Household Robots Market Forecast (2024-2031)
The Household Robots Market is expected to register a CAGR of 16.1% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Offering (Products and Services), Type (Domestic, Entertainment and Leisure), Application (Vacuuming, Lawn Mowing, Companionship, Elderly and H and icap Assistance, Robot Toys and Hobby Systems, and Others). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments
Purpose of the ReportThe report Household Robots Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Household Robots Market Segmentation
Offering- Products and Services
- Domestic
- Entertainment and Leisure
- Vacuuming
- Lawn Mowing
- Companionship
- Elderly and H and icap Assistance
- Robot Toys and Hobby Systems
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Household Robots Market Growth Drivers- Rising Demand for Convenience and Time-Saving Solutions: As lifestyles become busier, consumers are increasingly seeking products that help save time and reduce daily chores. Household robots, such as robotic vacuum cleaners, floor mops, and window cleaners, offer significant convenience by automating tedious tasks. This growing demand for time-saving solutions is driving the adoption of household robots, particularly among working professionals and families.
- Advancements in Robotics and Artificial Intelligence (AI): Technological advancements in robotics, machine learning, and AI are enhancing the capabilities of household robots. These innovations have led to smarter robots that can adapt to different environments, recognize obstacles, and execute tasks with greater efficiency. As AI improves, household robots become more autonomous, reliable, and user-friendly, further fueling the growth of the market.
- Increased Disposable Income and Affordability: As disposable income rises, especially in developed regions, consumers are more willing to invest in household robots. The reduction in production costs, improved manufacturing processes, and the introduction of more affordable models have made household robots accessible to a broader audience. This trend is encouraging more consumers to purchase robots for tasks such as cleaning, cooking, and lawn maintenance, thus driving market growth
- Growing Popularity of Multi-Functional Robots: A prominent trend in the household robot market is the demand for multi-functional robots that can perform a variety of tasks. For example, robotic vacuum cleaners with additional features like mopping, air purifying, or UV sterilization are gaining popularity. Consumers are seeking robots that offer enhanced versatility, which makes them more cost-effective and convenient, leading to the growth of multifunctional robotic systems.
- Integration of Voice Assistants and Smart Home Connectivity: Another key trend is the increasing integration of household robots with voice assistants such as Amazon Alexa, Google Assistant, and Apple’s Siri, as well as compatibility with smart home ecosystems. These integrations allow users to control robots via voice commands and monitor them remotely through smartphones or other smart devices. As consumers embrace smart home technology, household robots are becoming an integral part of connected living environments, enhancing user convenience and experience.
- Focus on Energy Efficiency and Sustainability: With growing environmental concerns, there is an increasing trend toward energy-efficient and eco-friendly household robots. Consumers are looking for products that consume less power while delivering high performance. Manufacturers are focusing on creating robots that use rechargeable batteries, low-power technologies, and sustainable materials to meet eco-conscious consumer preferences. This trend is not only benefiting the environment but also contributing to the widespread adoption of household robots
- Increased Adoption of Robots for Elderly and Disabled Care: With the global population aging, there is a growing opportunity for household robots to assist elderly and disabled individuals in performing daily tasks. Robots designed to help with mobility, medication management, and home monitoring are becoming more prevalent. This market segment offers significant growth potential, as family members and caregivers look for innovative solutions to help manage care and improve the quality of life for aging populations.
- Development of Personal Assistant Robots: Personal assistant robots, designed to assist with tasks like cooking, cleaning, or even providing companionship, represent an exciting opportunity within the household robot market. As AI and robotics technology continue to advance, these robots are becoming more capable of performing complex tasks, offering greater autonomy, and interacting more naturally with users. The rise of personal assistant robots, especially in homes with busy professionals or young families, presents significant growth potential for companies in this space
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Household Robots Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Household Robots Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Household Robots Market is estimated to witness a CAGR of 16.1% from 2023 to 2031
Increasing Automation and Demand for Convenience, Aging Population and Need for Assisted Living, Advancements in Artificial Intelligence and Robotics
Focus on Aesthetics and User Experience
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation# as our team would review the same and check the feasibility
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Household Robots Market - By Offering
1.3.2Household Robots Market - By Type
1.3.3Household Robots Market - By Application
1.3.4Household Robots Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.HOUSEHOLD ROBOTS MARKET L and SCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.HOUSEHOLD ROBOTS MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS and RESTRAINTS
6.HOUSEHOLD ROBOTS MARKET - GLOBAL MARKET ANALYSIS
6.1.HOUSEHOLD ROBOTS - GLOBAL MARKET OVERVIEW
6.2.HOUSEHOLD ROBOTS - GLOBAL MARKET and FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.HOUSEHOLD ROBOTS MARKET - REVENUE and FORECASTS TO 2028 - OFFERING
7.1.OVERVIEW
7.2.OFFERING MARKET FORECASTS and ANALYSIS
7.3.PRODUCTS
7.3.1.Overview
7.3.2.Products Market Forecast and Analysis
7.4.SERVICES
7.4.1.Overview
7.4.2.Services Market Forecast and Analysis
8.HOUSEHOLD ROBOTS MARKET - REVENUE and FORECASTS TO 2028 - TYPE
8.1.OVERVIEW
8.2.TYPE MARKET FORECASTS and ANALYSIS
8.3.DOMESTIC
8.3.1.Overview
8.3.2.Domestic Market Forecast and Analysis
8.4.ENTERTAINMENT and LEISURE
8.4.1.Overview
8.4.2.Entertainment and Leisure Market Forecast and Analysis
9.HOUSEHOLD ROBOTS MARKET - REVENUE and FORECASTS TO 2028 - APPLICATION
9.1.OVERVIEW
9.2.APPLICATION MARKET FORECASTS and ANALYSIS
9.3.VACUUMING
9.3.1.Overview
9.3.2.Vacuuming Market Forecast and Analysis
9.4.LAWN MOWING
9.4.1.Overview
9.4.2.Lawn Mowing Market Forecast and Analysis
9.5.COMPANIONSHIP
9.5.1.Overview
9.5.2.Companionship Market Forecast and Analysis
9.6.ELDERLY and H and ICAP ASSISTANCE
9.6.1.Overview
9.6.2.Elderly and H and icap Assistance Market Forecast and Analysis
9.7.ROBOT TOYS and HOBBY SYSTEMS
9.7.1.Overview
9.7.2.Robot Toys and Hobby Systems Market Forecast and Analysis
9.8.OTHERS
9.8.1.Overview
9.8.2.Others Market Forecast and Analysis
10.HOUSEHOLD ROBOTS MARKET REVENUE and FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Household Robots Market Overview
10.1.2North America Household Robots Market Forecasts and Analysis
10.1.3North America Household Robots Market Forecasts and Analysis - By Offering
10.1.4North America Household Robots Market Forecasts and Analysis - By Type
10.1.5North America Household Robots Market Forecasts and Analysis - By Application
10.1.6North America Household Robots Market Forecasts and Analysis - By Countries
10.1.6.1United States Household Robots Market
10.1.6.1.1United States Household Robots Market by Offering
10.1.6.1.2United States Household Robots Market by Type
10.1.6.1.3United States Household Robots Market by Application
10.1.6.2Canada Household Robots Market
10.1.6.2.1Canada Household Robots Market by Offering
10.1.6.2.2Canada Household Robots Market by Type
10.1.6.2.3Canada Household Robots Market by Application
10.1.6.3Mexico Household Robots Market
10.1.6.3.1Mexico Household Robots Market by Offering
10.1.6.3.2Mexico Household Robots Market by Type
10.1.6.3.3Mexico Household Robots Market by Application
10.2.EUROPE
10.2.1Europe Household Robots Market Overview
10.2.2Europe Household Robots Market Forecasts and Analysis
10.2.3Europe Household Robots Market Forecasts and Analysis - By Offering
10.2.4Europe Household Robots Market Forecasts and Analysis - By Type
10.2.5Europe Household Robots Market Forecasts and Analysis - By Application
10.2.6Europe Household Robots Market Forecasts and Analysis - By Countries
10.2.6.1Germany Household Robots Market
10.2.6.1.1Germany Household Robots Market by Offering
10.2.6.1.2Germany Household Robots Market by Type
10.2.6.1.3Germany Household Robots Market by Application
10.2.6.2France Household Robots Market
10.2.6.2.1France Household Robots Market by Offering
10.2.6.2.2France Household Robots Market by Type
10.2.6.2.3France Household Robots Market by Application
10.2.6.3Italy Household Robots Market
10.2.6.3.1Italy Household Robots Market by Offering
10.2.6.3.2Italy Household Robots Market by Type
10.2.6.3.3Italy Household Robots Market by Application
10.2.6.4United Kingdom Household Robots Market
10.2.6.4.1United Kingdom Household Robots Market by Offering
10.2.6.4.2United Kingdom Household Robots Market by Type
10.2.6.4.3United Kingdom Household Robots Market by Application
10.2.6.5Russia Household Robots Market
10.2.6.5.1Russia Household Robots Market by Offering
10.2.6.5.2Russia Household Robots Market by Type
10.2.6.5.3Russia Household Robots Market by Application
10.2.6.6Rest of Europe Household Robots Market
10.2.6.6.1Rest of Europe Household Robots Market by Offering
10.2.6.6.2Rest of Europe Household Robots Market by Type
10.2.6.6.3Rest of Europe Household Robots Market by Application
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Household Robots Market Overview
10.3.2Asia-Pacific Household Robots Market Forecasts and Analysis
10.3.3Asia-Pacific Household Robots Market Forecasts and Analysis - By Offering
10.3.4Asia-Pacific Household Robots Market Forecasts and Analysis - By Type
10.3.5Asia-Pacific Household Robots Market Forecasts and Analysis - By Application
10.3.6Asia-Pacific Household Robots Market Forecasts and Analysis - By Countries
10.3.6.1Australia Household Robots Market
10.3.6.1.1Australia Household Robots Market by Offering
10.3.6.1.2Australia Household Robots Market by Type
10.3.6.1.3Australia Household Robots Market by Application
10.3.6.2China Household Robots Market
10.3.6.2.1China Household Robots Market by Offering
10.3.6.2.2China Household Robots Market by Type
10.3.6.2.3China Household Robots Market by Application
10.3.6.3India Household Robots Market
10.3.6.3.1India Household Robots Market by Offering
10.3.6.3.2India Household Robots Market by Type
10.3.6.3.3India Household Robots Market by Application
10.3.6.4Japan Household Robots Market
10.3.6.4.1Japan Household Robots Market by Offering
10.3.6.4.2Japan Household Robots Market by Type
10.3.6.4.3Japan Household Robots Market by Application
10.3.6.5South Korea Household Robots Market
10.3.6.5.1South Korea Household Robots Market by Offering
10.3.6.5.2South Korea Household Robots Market by Type
10.3.6.5.3South Korea Household Robots Market by Application
10.3.6.6Rest of Asia-Pacific Household Robots Market
10.3.6.6.1Rest of Asia-Pacific Household Robots Market by Offering
10.3.6.6.2Rest of Asia-Pacific Household Robots Market by Type
10.3.6.6.3Rest of Asia-Pacific Household Robots Market by Application
10.4.MIDDLE EAST and AFRICA
10.4.1Middle East and Africa Household Robots Market Overview
10.4.2Middle East and Africa Household Robots Market Forecasts and Analysis
10.4.3Middle East and Africa Household Robots Market Forecasts and Analysis - By Offering
10.4.4Middle East and Africa Household Robots Market Forecasts and Analysis - By Type
10.4.5Middle East and Africa Household Robots Market Forecasts and Analysis - By Application
10.4.6Middle East and Africa Household Robots Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Household Robots Market
10.4.6.1.1South Africa Household Robots Market by Offering
10.4.6.1.2South Africa Household Robots Market by Type
10.4.6.1.3South Africa Household Robots Market by Application
10.4.6.2Saudi Arabia Household Robots Market
10.4.6.2.1Saudi Arabia Household Robots Market by Offering
10.4.6.2.2Saudi Arabia Household Robots Market by Type
10.4.6.2.3Saudi Arabia Household Robots Market by Application
10.4.6.3U.A.E Household Robots Market
10.4.6.3.1U.A.E Household Robots Market by Offering
10.4.6.3.2U.A.E Household Robots Market by Type
10.4.6.3.3U.A.E Household Robots Market by Application
10.4.6.4Rest of Middle East and Africa Household Robots Market
10.4.6.4.1Rest of Middle East and Africa Household Robots Market by Offering
10.4.6.4.2Rest of Middle East and Africa Household Robots Market by Type
10.4.6.4.3Rest of Middle East and Africa Household Robots Market by Application
10.5.SOUTH and CENTRAL AMERICA
10.5.1South and Central America Household Robots Market Overview
10.5.2South and Central America Household Robots Market Forecasts and Analysis
10.5.3South and Central America Household Robots Market Forecasts and Analysis - By Offering
10.5.4South and Central America Household Robots Market Forecasts and Analysis - By Type
10.5.5South and Central America Household Robots Market Forecasts and Analysis - By Application
10.5.6South and Central America Household Robots Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Household Robots Market
10.5.6.1.1Brazil Household Robots Market by Offering
10.5.6.1.2Brazil Household Robots Market by Type
10.5.6.1.3Brazil Household Robots Market by Application
10.5.6.2Argentina Household Robots Market
10.5.6.2.1Argentina Household Robots Market by Offering
10.5.6.2.2Argentina Household Robots Market by Type
10.5.6.2.3Argentina Household Robots Market by Application
10.5.6.3Rest of South and Central America Household Robots Market
10.5.6.3.1Rest of South and Central America Household Robots Market by Offering
10.5.6.3.2Rest of South and Central America Household Robots Market by Type
10.5.6.3.3Rest of South and Central America Household Robots Market by Application
11.INDUSTRY L and SCAPE
11.1.MERGERS and ACQUISITIONS
11.2.AGREEMENTS, COLLABORATIONS and JOIN VENTURES
11.3.NEW PRODUCT LAUNCHES
11.4.EXPANSIONS and OTHER STRATEGIC DEVELOPMENTS
12.HOUSEHOLD ROBOTS MARKET, KEY COMPANY PROFILES
12.1.ALFRED KäRCHER SE and CO. KG
12.1.1.Key Facts
12.1.2.Business Description
12.1.3.Products and Services
12.1.4.Financial Overview
12.1.5.SWOT Analysis
12.1.6.Key Developments
12.2.BLUE FROG ROBOTICS
12.2.1.Key Facts
12.2.2.Business Description
12.2.3.Products and Services
12.2.4.Financial Overview
12.2.5.SWOT Analysis
12.2.6.Key Developments
12.3.DEERE and COMPANY
12.3.1.Key Facts
12.3.2.Business Description
12.3.3.Products and Services
12.3.4.Financial Overview
12.3.5.SWOT Analysis
12.3.6.Key Developments
12.4.DYSON LTD
12.4.1.Key Facts
12.4.2.Business Description
12.4.3.Products and Services
12.4.4.Financial Overview
12.4.5.SWOT Analysis
12.4.6.Key Developments
12.5.ECOVACS ROBOTICS
12.5.1.Key Facts
12.5.2.Business Description
12.5.3.Products and Services
12.5.4.Financial Overview
12.5.5.SWOT Analysis
12.5.6.Key Developments
12.6.IROBOT CORPORATION
12.6.1.Key Facts
12.6.2.Business Description
12.6.3.Products and Services
12.6.4.Financial Overview
12.6.5.SWOT Analysis
12.6.6.Key Developments
12.7.LG ELECTRONICS
12.7.1.Key Facts
12.7.2.Business Description
12.7.3.Products and Services
12.7.4.Financial Overview
12.7.5.SWOT Analysis
12.7.6.Key Developments
12.8.NEATO ROBOTICS, INC. (VORWERK)
12.8.1.Key Facts
12.8.2.Business Description
12.8.3.Products and Services
12.8.4.Financial Overview
12.8.5.SWOT Analysis
12.8.6.Key Developments
12.9.SAMSUNG ELECTRONICS
12.9.1.Key Facts
12.9.2.Business Description
12.9.3.Products and Services
12.9.4.Financial Overview
12.9.5.SWOT Analysis
12.9.6.Key Developments
12.10.THE LEGO GROUP (KIRKBI A/S)
12.10.1.Key Facts
12.10.2.Business Description
12.10.3.Products and Services
12.10.4.Financial Overview
12.10.5.SWOT Analysis
12.10.6.Key Developments
13.APPENDIX
13.1.ABOUT THE INSIGHT PARTNERS
13.2.GLOSSARY OF TERMS
1. Alfred Kärcher SE and Co. KG2. Blue Frog Robotics3. Deere and Company4. Dyson Ltd5. Ecovacs Robotics6. iRobot Corporation7. LG Electronics8. Neato Robotics, Inc. (Vorwerk)9. Samsung Electronics10. The Lego Group (KIRKBI A/S)
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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