Lithium Compounds Market Opportunities 2031
The lithium compounds market is expected to grow from US$ 6.3 billion in 2021 to US$ 25.1 billion by 2031; it is estimated to grow at a CAGR of 22.0% between 2022 and 2031.
The consumer electronics and automotive industry has been flourishing rapidly over the years. The increase in demand for mobile phones, cameras, laptops, electronic toys, wireless headphones, handheld power tools, small and large appliances, electric vehicles, and electrical energy storage systems that are powered through lithium-ion batteries is propelling the need for lithium-ion batteries, which is fueling the lithium compounds market growth.
MARKET DYNAMICS
Lithium is a silver-white alkali metal generally extracted from ores and mineral springs. It is a mixture of the isotopes Li6 and Li7, which are corrosive and burn with a white flame. It has the lowest density of all the metals and forms organic and inorganic compounds like oxide, nitride, carbide, hydride, and hydroxide. These compounds are widely utilized in various industrial applications, such as the manufacturing of ceramics, nuclear materials, glass, pharmaceuticals, and batteries. Moreover, lithium compounds are versatile and find extensive applications in various end use industries, such as li-ion batteries, glass, ceramics, lubricants, metallurgy, polymers, and air treatment. All these aforementioned factors are propelling the market growth.
MARKET SCOPE
The "Global Lithium Compounds Market Forecast to 2031" report aims to provide an overview of the lithium compounds market with detailed market segmentation based on derivative and end use. The report provides key statistics based on the performance of the leading market players. It also offers key trends and opportunities in the lithium compounds market.
Strategic Insights
MARKET SEGMENTATION
The global lithium compounds market is bifurcated on the basis of derivative and end use. Based on derivative, the market is segmented into lithium carbonate, lithium hydroxide, lithium concentrate, lithium metal, lithium chloride, butyllithium, and others. By end use, the market is segmented into li-ion batteries, glass and ceramics, medical, lubricants, metallurgy, polymers, air treatment, and others.
The global lithium compounds market is segmented into five major regions—North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South America. The report covers analysis and forecast of 18 countries across the world along with trends and opportunities prevailing in the region.
From the regional perspective, Asia Pacific dominated the lithium compounds market with ~42% share in 2021. The market growth in the region is majorly attributed to the increasing demand for grid connected energy storage, new energy storage applications in vehicles, and the high demand for consumer gadgets. A few key lithium compounds manufacturers in the region include Albemarle Corporation, Livent, and Galaxy Resources Limited. These suppliers witness constant demand from various end-use markets. The below figure shows the revenue growth trend in the global lithium compounds market:
Source: The Insight Partners Analysis
The report analyzes factors, such as drivers, restraints, opportunities, and future trends, which are impacting the lithium compounds market. The report also provides exhaustive Porter's five forces analysis of the factors influencing the market in these regions.
IMPACT OF COVID-19 PANDEMIC
The COVID-19 outbreak disrupted the lithium compounds industry owing to the various economic and legal restrictions imposed in countries across the world. The restrictions and bans on trade, export, import, and other inter-country and inter-state activities adversely affected the lithium compounds market in terms of production, supply–chain management, and distribution. The restrictions were in effect for a major part of 2021. However, after the restrictions were eased out and the bans were lifted the lithium compounds market recovered.
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The global lithium compounds market is segmented into five major regions—North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South America. The report covers analysis and forecast of 18 countries across the world along with trends and opportunities prevailing in the region.
From the regional perspective, Asia Pacific dominated the lithium compounds market with ~42% share in 2021. The market growth in the region is majorly attributed to the increasing demand for grid connected energy storage, new energy storage applications in vehicles, and the high demand for consumer gadgets. A few key lithium compounds manufacturers in the region include Albemarle Corporation, Livent, and Galaxy Resources Limited. These suppliers witness constant demand from various end-use markets. The below figure shows the revenue growth trend in the global lithium compounds market:
Source: The Insight Partners Analysis
The report analyzes factors, such as drivers, restraints, opportunities, and future trends, which are impacting the lithium compounds market. The report also provides exhaustive Porter's five forces analysis of the factors influencing the market in these regions.
IMPACT OF COVID-19 PANDEMIC
The COVID-19 outbreak disrupted the lithium compounds industry owing to the various economic and legal restrictions imposed in countries across the world. The restrictions and bans on trade, export, import, and other inter-country and inter-state activities adversely affected the lithium compounds market in terms of production, supply–chain management, and distribution. The restrictions were in effect for a major part of 2021. However, after the restrictions were eased out and the bans were lifted the lithium compounds market recovered.
MARKET PLAYERS
The reports cover key developments in the lithium compounds market. Various companies are focusing on organic growth strategies such as product launches, product approvals, patents, and events. Acquisitions, and partnership & collaborations are among the inorganic growth strategic activities witnessed in the market. These activities have paved way for the expansion of business and customer base of market players. The market players are anticipated to experience lucrative growth opportunities in the future due to the rising demand for lithium compounds.
The report also includes the profiles of key lithium compounds market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players’ information such as company profiles, components and services offered, financial information of last three years, and key development in past five years. Below mentioned is the list of a few companies engaged in the lithium compounds market.
- Sociedad Quimica y Minera de Chile S.A. (SQM)
- Livent Corporation
- Albemarle Corporation
- Tianqi Lithium Industries Inc.
- Ganfeng Lithium Company Limited
- China Lithium Products Technology Company Limited
- Sichuan Ni&Co Guorun New Materials Company Limited
- Shanghai China Lithium Industrial Company Limited
- Nemaska Lithium Inc.
- Bacanora Lithium
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Derivative and End Use
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
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 Lithium Compounds Market - By End Use
1.3.2 Lithium Compounds Market - By Derivatives
1.3.3 Lithium Compounds Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. LITHIUM COMPOUNDS 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. LITHIUM COMPOUNDS 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. LITHIUM COMPOUNDS MARKET - GLOBAL MARKET ANALYSIS
6.1. LITHIUM COMPOUNDS - GLOBAL MARKET OVERVIEW
6.2. LITHIUM COMPOUNDS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. LITHIUM COMPOUNDS MARKET - REVENUE AND FORECASTS TO 2028 - END USE
7.1. OVERVIEW
7.2. END USE MARKET FORECASTS AND ANALYSIS
7.3. LI-ION BATTERIES
7.3.1. Overview
7.3.2. Li-ion Batteries Market Forecast and Analysis
7.4. GLASS AND CERAMICS
7.4.1. Overview
7.4.2. Glass and Ceramics Market Forecast and Analysis
7.5. MEDICAL
7.5.1. Overview
7.5.2. Medical Market Forecast and Analysis
7.6. LUBRICANTS
7.6.1. Overview
7.6.2. Lubricants Market Forecast and Analysis
7.7. METALLURGY
7.7.1. Overview
7.7.2. Metallurgy Market Forecast and Analysis
7.8. POLYMERS
7.8.1. Overview
7.8.2. Polymers Market Forecast and Analysis
7.9. OTHERS
7.9.1. Overview
7.9.2. Others Market Forecast and Analysis
8. LITHIUM COMPOUNDS MARKET - REVENUE AND FORECASTS TO 2028 - DERIVATIVES
8.1. OVERVIEW
8.2. DERIVATIVES MARKET FORECASTS AND ANALYSIS
8.3. LITHIUM CARBONATE
8.3.1. Overview
8.3.2. Lithium Carbonate Market Forecast and Analysis
8.4. LITHIUM HYDROXIDE
8.4.1. Overview
8.4.2. Lithium Hydroxide Market Forecast and Analysis
8.5. LITHIUM CONCENTRATE
8.5.1. Overview
8.5.2. Lithium Concentrate Market Forecast and Analysis
8.6. LITHIUM METAL
8.6.1. Overview
8.6.2. Lithium Metal Market Forecast and Analysis
8.7. BUTYL LITHIUM
8.7.1. Overview
8.7.2. Butyl Lithium Market Forecast and Analysis
8.8. LITHIUM CHLORIDE
8.8.1. Overview
8.8.2. Lithium Chloride Market Forecast and Analysis
8.9. OTHERS
8.9.1. Overview
8.9.2. Others Market Forecast and Analysis
9. LITHIUM COMPOUNDS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Lithium Compounds Market Overview
9.1.2 North America Lithium Compounds Market Forecasts and Analysis
9.1.3 North America Lithium Compounds Market Forecasts and Analysis - By End Use
9.1.4 North America Lithium Compounds Market Forecasts and Analysis - By Derivatives
9.1.5 North America Lithium Compounds Market Forecasts and Analysis - By Countries
9.1.5.1 United States Lithium Compounds Market
9.1.5.1.1 United States Lithium Compounds Market by End Use
9.1.5.1.2 United States Lithium Compounds Market by Derivatives
9.1.5.2 Canada Lithium Compounds Market
9.1.5.2.1 Canada Lithium Compounds Market by End Use
9.1.5.2.2 Canada Lithium Compounds Market by Derivatives
9.1.5.3 Mexico Lithium Compounds Market
9.1.5.3.1 Mexico Lithium Compounds Market by End Use
9.1.5.3.2 Mexico Lithium Compounds Market by Derivatives
9.2. EUROPE
9.2.1 Europe Lithium Compounds Market Overview
9.2.2 Europe Lithium Compounds Market Forecasts and Analysis
9.2.3 Europe Lithium Compounds Market Forecasts and Analysis - By End Use
9.2.4 Europe Lithium Compounds Market Forecasts and Analysis - By Derivatives
9.2.5 Europe Lithium Compounds Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Lithium Compounds Market
9.2.5.1.1 Germany Lithium Compounds Market by End Use
9.2.5.1.2 Germany Lithium Compounds Market by Derivatives
9.2.5.2 France Lithium Compounds Market
9.2.5.2.1 France Lithium Compounds Market by End Use
9.2.5.2.2 France Lithium Compounds Market by Derivatives
9.2.5.3 Italy Lithium Compounds Market
9.2.5.3.1 Italy Lithium Compounds Market by End Use
9.2.5.3.2 Italy Lithium Compounds Market by Derivatives
9.2.5.4 Spain Lithium Compounds Market
9.2.5.4.1 Spain Lithium Compounds Market by End Use
9.2.5.4.2 Spain Lithium Compounds Market by Derivatives
9.2.5.5 United Kingdom Lithium Compounds Market
9.2.5.5.1 United Kingdom Lithium Compounds Market by End Use
9.2.5.5.2 United Kingdom Lithium Compounds Market by Derivatives
9.2.5.6 Russia Lithium Compounds Market
9.2.5.6.1 Russia Lithium Compounds Market by End Use
9.2.5.6.2 Russia Lithium Compounds Market by Derivatives
9.2.5.7 Rest of Europe Lithium Compounds Market
9.2.5.7.1 Rest of Europe Lithium Compounds Market by End Use
9.2.5.7.2 Rest of Europe Lithium Compounds Market by Derivatives
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Lithium Compounds Market Overview
9.3.2 Asia-Pacific Lithium Compounds Market Forecasts and Analysis
9.3.3 Asia-Pacific Lithium Compounds Market Forecasts and Analysis - By End Use
9.3.4 Asia-Pacific Lithium Compounds Market Forecasts and Analysis - By Derivatives
9.3.5 Asia-Pacific Lithium Compounds Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Lithium Compounds Market
9.3.5.1.1 Australia Lithium Compounds Market by End Use
9.3.5.1.2 Australia Lithium Compounds Market by Derivatives
9.3.5.2 China Lithium Compounds Market
9.3.5.2.1 China Lithium Compounds Market by End Use
9.3.5.2.2 China Lithium Compounds Market by Derivatives
9.3.5.3 India Lithium Compounds Market
9.3.5.3.1 India Lithium Compounds Market by End Use
9.3.5.3.2 India Lithium Compounds Market by Derivatives
9.3.5.4 Japan Lithium Compounds Market
9.3.5.4.1 Japan Lithium Compounds Market by End Use
9.3.5.4.2 Japan Lithium Compounds Market by Derivatives
9.3.5.5 South Korea Lithium Compounds Market
9.3.5.5.1 South Korea Lithium Compounds Market by End Use
9.3.5.5.2 South Korea Lithium Compounds Market by Derivatives
9.3.5.6 Rest of Asia-Pacific Lithium Compounds Market
9.3.5.6.1 Rest of Asia-Pacific Lithium Compounds Market by End Use
9.3.5.6.2 Rest of Asia-Pacific Lithium Compounds Market by Derivatives
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Lithium Compounds Market Overview
9.4.2 Middle East and Africa Lithium Compounds Market Forecasts and Analysis
9.4.3 Middle East and Africa Lithium Compounds Market Forecasts and Analysis - By End Use
9.4.4 Middle East and Africa Lithium Compounds Market Forecasts and Analysis - By Derivatives
9.4.5 Middle East and Africa Lithium Compounds Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Lithium Compounds Market
9.4.5.1.1 South Africa Lithium Compounds Market by End Use
9.4.5.1.2 South Africa Lithium Compounds Market by Derivatives
9.4.5.2 Saudi Arabia Lithium Compounds Market
9.4.5.2.1 Saudi Arabia Lithium Compounds Market by End Use
9.4.5.2.2 Saudi Arabia Lithium Compounds Market by Derivatives
9.4.5.3 U.A.E Lithium Compounds Market
9.4.5.3.1 U.A.E Lithium Compounds Market by End Use
9.4.5.3.2 U.A.E Lithium Compounds Market by Derivatives
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Lithium Compounds Market Overview
9.5.2 South and Central America Lithium Compounds Market Forecasts and Analysis
9.5.3 South and Central America Lithium Compounds Market Forecasts and Analysis - By End Use
9.5.4 South and Central America Lithium Compounds Market Forecasts and Analysis - By Derivatives
9.5.5 South and Central America Lithium Compounds Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Lithium Compounds Market
9.5.5.1.1 Brazil Lithium Compounds Market by End Use
9.5.5.1.2 Brazil Lithium Compounds Market by Derivatives
9.5.5.2 Argentina Lithium Compounds Market
9.5.5.2.1 Argentina Lithium Compounds Market by End Use
9.5.5.2.2 Argentina Lithium Compounds Market by Derivatives
9.5.5.3 Rest of South and Central America Lithium Compounds Market
9.5.5.3.1 Rest of South and Central America Lithium Compounds Market by End Use
9.5.5.3.2 Rest of South and Central America Lithium Compounds Market by Derivatives
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. LITHIUM COMPOUNDS MARKET, KEY COMPANY PROFILES
11.1. ALBEMARLE CORPORATION
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. SOCIEDAD QUIMICA Y MINERA DE CHILE S.A. (SQM)
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. LIVENT CORPORATION
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. TIANQI LITHIUM INDUSTRIES INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. GANFENG LITHIUM CO. LTD.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. CHINA LITHIUM PRODUCTS TECHNOLOGY CO. LTD.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. SICHUAN NIANDCO GUORUN NEW MATERIALS CO. LTD.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SHANGHAI CHINA LITHIUM INDUSTRIAL CO. LTD.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. NEMASKA LITHIUM INC.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. BACANORA LITHIUM
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. Albemarle Corporation
2. Sociedad Quimica Y Minera De Chile S.A. (SQM)
3. Livent Corporation
4. Tianqi Lithium Industries Inc.
5. Ganfeng Lithium Co. Ltd.
6. China Lithium Products Technology Co. Ltd.
7. Sichuan NiandCo Guorun New Materials Co. Ltd.
8. Shanghai China Lithium Industrial Co. Ltd.
9. Nemaska Lithium Inc.
10. Bacanora Lithium
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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