Intelligent Wheelchair Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Intelligent Wheelchair Market covers analysis by Type (Pediatric and Bariatric Wheelchairs, Rollators, and Mobility Scooters); End Use (Hospital Use, Home Use, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00024175
  • Category : Medical Device
  • No. of Pages : 150
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Intelligent Wheelchair Market SWOT Analysis by 2031

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MARKET OVERVIEW

Intelligent Wheelchair is a type of a power wheelchair to which sensors, computers and assistive technology are attached. Intelligent Wheelchair software is divided into separate programs to control concomitantly on multiple computing nodes to decrease the time required for data. Intelligent or smart wheelchairs have been in development to increase the accessibility and safety of powered wheelchairs for individuals with physical, sensory, or cognitive impairments.

MARKET SCOPE

The "Global Intelligent Wheelchair Market Analysis to 2031" is a specialized and in-depth study of the medical devices industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Intelligent wheelchair market with detailed market segmentation by type, end use, and geography. The report provides key statistics on the market status of the leading Intelligent wheelchair market players and offers key trends and opportunities in the market.MARKET SEGMENTATION

  •  Based on type, the global Intelligent wheelchair market is segmented into pediatric and bariatric wheelchairs, rollators, mobility scooters.
  •  On the basis of end use, the market is segmented into hospital use, home use.

MARKET DYNAMICS
Drivers:

  •  Rise in the consumer spending on healthcare related products and services.
  •  Rise in number of disorders such as spinal cord injuries.
  •  Rise in the geriatric population.
  •  Growing awareness regarding various innovative mobility assistive devices.
  •  Technological advancements.

Restraints:

  •  The high repair and maintenance cost is the major restraining factor for this market.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Intelligent wheelchair market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Intelligent wheelchair market in these regions.

IMPACT OF COVID-19 ON INTELLIGENT WHEELCHAIR MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

World Geography

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MARKET PLAYERS


The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Intelligent wheelchair market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Intelligent wheelchair market in these regions.

IMPACT OF COVID-19 ON INTELLIGENT WHEELCHAIR MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the Intelligent wheelchair market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Intelligent wheelchair market are anticipated to lucrative growth opportunities in the future with the rising demand for Intelligent wheelchair in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Intelligent wheelchair market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
  •  Medical Depot, Inc.
  •  Permobil AB
  •  Pride Mobility Products Ltd
  •  GE HEALTH PRODUCTS, INC
  •  Invacare Corporation
  •  Karman Healthcare, Inc.
  •  LEVO AG
  •  MEYRA GmbH
  •  Ottobock
  •  WHILL Inc.
    The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
    • 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
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    This text is related
    to segments covered.

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    This text is related
    to country scope.

    TABLE OF CONTENTS

    1. INTRODUCTION
    1.1. SCOPE OF THE STUDY
    1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
    1.3. MARKET SEGMENTATION
    1.3.1 Intelligent Wheelchair Market - By Type
    1.3.2 Intelligent Wheelchair Market - By End Use
    1.3.3 Intelligent Wheelchair Market - By Region
    1.3.3.1 By Country
    2. KEY TAKEAWAYS
    3. RESEARCH METHODOLOGY
    4. INTELLIGENT WHEELCHAIR MARKET LANDSCAPE
    4.1. OVERVIEW
    4.2. PEST ANALYSIS
    4.2.1 North America - Pest Analysis
    4.2.2 Europe - Pest Analysis
    4.2.3 Asia-Pacific - Pest Analysis
    4.2.4 Middle East and Africa - Pest Analysis
    4.2.5 South and Central America - Pest Analysis
    4.3. EXPERT OPINIONS
    5. INTELLIGENT WHEELCHAIR 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. INTELLIGENT WHEELCHAIR MARKET - GLOBAL MARKET ANALYSIS
    6.1. INTELLIGENT WHEELCHAIR - GLOBAL MARKET OVERVIEW
    6.2. INTELLIGENT WHEELCHAIR - GLOBAL MARKET AND FORECAST TO 2028
    6.3. MARKET POSITIONING
    7. INTELLIGENT WHEELCHAIR MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
    7.1. OVERVIEW
    7.2. TYPE MARKET FORECASTS AND ANALYSIS
    7.3. PEDIATRIC AND BARIATRIC WHEELCHAIRS
    7.3.1. Overview
    7.3.2. Pediatric and Bariatric Wheelchairs Market Forecast and Analysis
    7.4. ROLLATORS
    7.4.1. Overview
    7.4.2. Rollators Market Forecast and Analysis
    7.5. MOBILITY SCOOTERS
    7.5.1. Overview
    7.5.2. Mobility Scooters Market Forecast and Analysis
    8. INTELLIGENT WHEELCHAIR MARKET - REVENUE AND FORECASTS TO 2028 - END USE
    8.1. OVERVIEW
    8.2. END USE MARKET FORECASTS AND ANALYSIS
    8.3. HOSPITAL USE
    8.3.1. Overview
    8.3.2. Hospital Use Market Forecast and Analysis
    8.4. HOME USE
    8.4.1. Overview
    8.4.2. Home Use Market Forecast and Analysis
    8.5. OTHERS
    8.5.1. Overview
    8.5.2. Others Market Forecast and Analysis
    9. INTELLIGENT WHEELCHAIR MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
    9.1. NORTH AMERICA
    9.1.1 North America Intelligent Wheelchair Market Overview
    9.1.2 North America Intelligent Wheelchair Market Forecasts and Analysis
    9.1.3 North America Intelligent Wheelchair Market Forecasts and Analysis - By Type
    9.1.4 North America Intelligent Wheelchair Market Forecasts and Analysis - By End Use
    9.1.5 North America Intelligent Wheelchair Market Forecasts and Analysis - By Countries
    9.1.5.1 United States Intelligent Wheelchair Market
    9.1.5.1.1 United States Intelligent Wheelchair Market by Type
    9.1.5.1.2 United States Intelligent Wheelchair Market by End Use
    9.1.5.2 Canada Intelligent Wheelchair Market
    9.1.5.2.1 Canada Intelligent Wheelchair Market by Type
    9.1.5.2.2 Canada Intelligent Wheelchair Market by End Use
    9.1.5.3 Mexico Intelligent Wheelchair Market
    9.1.5.3.1 Mexico Intelligent Wheelchair Market by Type
    9.1.5.3.2 Mexico Intelligent Wheelchair Market by End Use
    9.2. EUROPE
    9.2.1 Europe Intelligent Wheelchair Market Overview
    9.2.2 Europe Intelligent Wheelchair Market Forecasts and Analysis
    9.2.3 Europe Intelligent Wheelchair Market Forecasts and Analysis - By Type
    9.2.4 Europe Intelligent Wheelchair Market Forecasts and Analysis - By End Use
    9.2.5 Europe Intelligent Wheelchair Market Forecasts and Analysis - By Countries
    9.2.5.1 Germany Intelligent Wheelchair Market
    9.2.5.1.1 Germany Intelligent Wheelchair Market by Type
    9.2.5.1.2 Germany Intelligent Wheelchair Market by End Use
    9.2.5.2 France Intelligent Wheelchair Market
    9.2.5.2.1 France Intelligent Wheelchair Market by Type
    9.2.5.2.2 France Intelligent Wheelchair Market by End Use
    9.2.5.3 Italy Intelligent Wheelchair Market
    9.2.5.3.1 Italy Intelligent Wheelchair Market by Type
    9.2.5.3.2 Italy Intelligent Wheelchair Market by End Use
    9.2.5.4 Spain Intelligent Wheelchair Market
    9.2.5.4.1 Spain Intelligent Wheelchair Market by Type
    9.2.5.4.2 Spain Intelligent Wheelchair Market by End Use
    9.2.5.5 United Kingdom Intelligent Wheelchair Market
    9.2.5.5.1 United Kingdom Intelligent Wheelchair Market by Type
    9.2.5.5.2 United Kingdom Intelligent Wheelchair Market by End Use
    9.2.5.6 Rest of Europe Intelligent Wheelchair Market
    9.2.5.6.1 Rest of Europe Intelligent Wheelchair Market by Type
    9.2.5.6.2 Rest of Europe Intelligent Wheelchair Market by End Use
    9.3. ASIA-PACIFIC
    9.3.1 Asia-Pacific Intelligent Wheelchair Market Overview
    9.3.2 Asia-Pacific Intelligent Wheelchair Market Forecasts and Analysis
    9.3.3 Asia-Pacific Intelligent Wheelchair Market Forecasts and Analysis - By Type
    9.3.4 Asia-Pacific Intelligent Wheelchair Market Forecasts and Analysis - By End Use
    9.3.5 Asia-Pacific Intelligent Wheelchair Market Forecasts and Analysis - By Countries
    9.3.5.1 Australia Intelligent Wheelchair Market
    9.3.5.1.1 Australia Intelligent Wheelchair Market by Type
    9.3.5.1.2 Australia Intelligent Wheelchair Market by End Use
    9.3.5.2 China Intelligent Wheelchair Market
    9.3.5.2.1 China Intelligent Wheelchair Market by Type
    9.3.5.2.2 China Intelligent Wheelchair Market by End Use
    9.3.5.3 India Intelligent Wheelchair Market
    9.3.5.3.1 India Intelligent Wheelchair Market by Type
    9.3.5.3.2 India Intelligent Wheelchair Market by End Use
    9.3.5.4 Japan Intelligent Wheelchair Market
    9.3.5.4.1 Japan Intelligent Wheelchair Market by Type
    9.3.5.4.2 Japan Intelligent Wheelchair Market by End Use
    9.3.5.5 South Korea Intelligent Wheelchair Market
    9.3.5.5.1 South Korea Intelligent Wheelchair Market by Type
    9.3.5.5.2 South Korea Intelligent Wheelchair Market by End Use
    9.3.5.6 Rest of Asia-Pacific Intelligent Wheelchair Market
    9.3.5.6.1 Rest of Asia-Pacific Intelligent Wheelchair Market by Type
    9.3.5.6.2 Rest of Asia-Pacific Intelligent Wheelchair Market by End Use
    9.4. MIDDLE EAST AND AFRICA
    9.4.1 Middle East and Africa Intelligent Wheelchair Market Overview
    9.4.2 Middle East and Africa Intelligent Wheelchair Market Forecasts and Analysis
    9.4.3 Middle East and Africa Intelligent Wheelchair Market Forecasts and Analysis - By Type
    9.4.4 Middle East and Africa Intelligent Wheelchair Market Forecasts and Analysis - By End Use
    9.4.5 Middle East and Africa Intelligent Wheelchair Market Forecasts and Analysis - By Countries
    9.4.5.1 South Africa Intelligent Wheelchair Market
    9.4.5.1.1 South Africa Intelligent Wheelchair Market by Type
    9.4.5.1.2 South Africa Intelligent Wheelchair Market by End Use
    9.4.5.2 Saudi Arabia Intelligent Wheelchair Market
    9.4.5.2.1 Saudi Arabia Intelligent Wheelchair Market by Type
    9.4.5.2.2 Saudi Arabia Intelligent Wheelchair Market by End Use
    9.4.5.3 U.A.E Intelligent Wheelchair Market
    9.4.5.3.1 U.A.E Intelligent Wheelchair Market by Type
    9.4.5.3.2 U.A.E Intelligent Wheelchair Market by End Use
    9.4.5.4 Rest of Middle East and Africa Intelligent Wheelchair Market
    9.4.5.4.1 Rest of Middle East and Africa Intelligent Wheelchair Market by Type
    9.4.5.4.2 Rest of Middle East and Africa Intelligent Wheelchair Market by End Use
    9.5. SOUTH AND CENTRAL AMERICA
    9.5.1 South and Central America Intelligent Wheelchair Market Overview
    9.5.2 South and Central America Intelligent Wheelchair Market Forecasts and Analysis
    9.5.3 South and Central America Intelligent Wheelchair Market Forecasts and Analysis - By Type
    9.5.4 South and Central America Intelligent Wheelchair Market Forecasts and Analysis - By End Use
    9.5.5 South and Central America Intelligent Wheelchair Market Forecasts and Analysis - By Countries
    9.5.5.1 Brazil Intelligent Wheelchair Market
    9.5.5.1.1 Brazil Intelligent Wheelchair Market by Type
    9.5.5.1.2 Brazil Intelligent Wheelchair Market by End Use
    9.5.5.2 Argentina Intelligent Wheelchair Market
    9.5.5.2.1 Argentina Intelligent Wheelchair Market by Type
    9.5.5.2.2 Argentina Intelligent Wheelchair Market by End Use
    9.5.5.3 Rest of South and Central America Intelligent Wheelchair Market
    9.5.5.3.1 Rest of South and Central America Intelligent Wheelchair Market by Type
    9.5.5.3.2 Rest of South and Central America Intelligent Wheelchair Market by End Use
    10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL INTELLIGENT WHEELCHAIR MARKET
    10.1 North America
    10.2 Europe
    10.3 Asia-Pacific
    10.4 Middle East and Africa
    10.5 South and Central America
    11. INDUSTRY LANDSCAPE
    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. INTELLIGENT WHEELCHAIR MARKET, KEY COMPANY PROFILES
    12.1. MEDICAL DEPOT, INC.
    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. PERMOBIL AB
    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. PRIDE MOBILITY PRODUCTS LTD
    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. GE HEALTH PRODUCTS, INC
    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. INVACARE CORPORATION
    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. KARMAN HEALTHCARE, INC.
    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. LEVO AG
    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. MEYRA GMBH
    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. OTTOBOCK
    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. WHILL INC.
    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
    The List of Companies

    1. Medical Depot, Inc.
    2. Permobil AB
    3. Pride Mobility Products Ltd
    4. GE HEALTH PRODUCTS, INC
    5. Invacare Corporation
    6. Karman Healthcare, Inc.
    7. LEVO AG
    8. MEYRA GmbH
    9. Ottobock
    10. WHILL Inc.
    11. Sunrise Medical
    12. Antano Group
    13. 21st Century SCIENTIFIC Inc.
    14. Hoveround Corporation
    15. Merits Health Products
    16. Ostrich Mobility
    17. KrosMedical Europe

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. 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.

    1. 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:

    Research Methodology

    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.

    1. 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.

    1. 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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