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

Coverage: Maritime Surveillance Market covers analysis By Component (Radar, Sensors, AIS Receiver, Others); Type (Surveillance and Tracking, Detectors, Others); Application (Naval, Coast Guard, Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00016102
  • Category : Aerospace and Defense
  • No. of Pages : 150
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Maritime Surveillance Market Developments by 2031

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The Maritime Surveillance Market is expected to register a CAGR of 6.1% 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 Component (Radar, Sensors, AIS Receiver, Others); Type (Surveillance and Tracking, Detectors, Others); Application (Naval, Coast Guard, 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 Report

The report Maritime Surveillance 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.

Maritime Surveillance Market Segmentation

Component
  • Radar
  • Sensors
  • AIS Receiver
  • Others
Type
  • Surveillance and Tracking
  • Detectors
  • Others
Application
  • Naval
  • Coast Guard
  • Others

Strategic Insights

Maritime Surveillance Market Growth Drivers
  • Increased Maritime Security Concerns: The increasing piracy, smuggling, and illegal fishing concerns have led to higher demand for maritime surveillance solutions. Governmental and organizational investment in cutting-edge monitoring systems that would bolster security and protect maritime assets further fuels the demand for surveillance technologies.
  • Regulatory Compliance and International Standards: The stringent rules and the strict international norms in terms of marine security are forcing the group to introduce advanced monitoring mechanisms. For example, through form of guidelines from the International Maritime Organization, the need to embrace an effective monitoring solution forms regulation compliance, thus propelling demand.
  • Advancements in surveillance technology: Surveillance technology developments including radars, satellite imagery, and unmanned aerial vehicles enable the speed improvement in the monitoring capabilities within the maritime arena. It would mean real-time collection and analysis of data in real time to improve awareness and decisions in the maritime domain.
Maritime Surveillance Market Future Trends
  • Increased Use of Drones and UAVs: More usage of drones and UAVs for maritime surveillance is gaining ground. Such technologies can provide real-time aerial monitoring and cover vast areas rapidly, thus improving situational awareness and reducing response times in maritime security operations.
  • Cloud-based solutions are becoming the trend: Maritime surveillance solution using clouds are rapidly going trendy. Cloud technologies will hold unlimited amounts of data storage as well as analytics, which makes information across multiple stakeholders available in a better way and on a real-time basis to everybody, thereby enhancing overall efficiency in operations.
Maritime Surveillance Market Opportunities
  • Multi-functional System Development: Opportunities will arise in terms of developing multi-functional surveillance maritime systems with various compositions that are possible through variously available technologies, for instance, radar, AIS, or video surveillance. It means that comprehensive solutions would then arise with robust monitoring capabilities which are attractive to a wide array of customers.
  • Partnerships and Collaborations: Partnerships with the government, defense contractors, and technology providers can open up further possibilities in capabilities and market reach of maritime surveillance solutions. The innovation brought forth by collaboration and partnership will open up new markets to a wider variety of customers in the maritime sector.

Market Report Scope

Key Selling Points

  • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Maritime Surveillance 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 Maritime Surveillance 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.

REGIONAL FRAMEWORK
World Geography

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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

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to country scope.

Frequently Asked Questions


What is the expected CAGR of the Maritime Surveillance Market?

The Maritime Surveillance Market is estimated to witness a CAGR of 6.1% from 2023 to 2031

What are the driving factors impacting the maritime surveillance market?

The major factors driving the maritime surveillance market are:

1. Increasing Number of Contracts for Surveillance Systems

2. Demand for Coastal Surveillance Systems

What are the future trends of the maritime surveillance market?

Some of the major trends driving the maritime surveillance market are:

1. Awareness for Reducing the Illegal Activities

What are the deliverable formats of the maritime surveillance market report?

The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.

What are the options available for the customization of this report?

Some of the customization options available based on request are 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.

TABLE OF CONTENTS

1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Maritime Surveillance Market - By Component
1.3.2Maritime Surveillance Market - By Type
1.3.3Maritime Surveillance Market - By Application
1.3.4Maritime Surveillance Market - By Region
1.3.4.1By Country

2.KEY TAKEAWAYS

3.RESEARCH METHODOLOGY

4.MARITIME SURVEILLANCE MARKET LANDSCAPE
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.MARITIME SURVEILLANCE 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.MARITIME SURVEILLANCE MARKET - GLOBAL MARKET ANALYSIS
6.1.MARITIME SURVEILLANCE - GLOBAL MARKET OVERVIEW
6.2.MARITIME SURVEILLANCE - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE

7.MARITIME SURVEILLANCE MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1.OVERVIEW
7.2.COMPONENT MARKET FORECASTS AND ANALYSIS
7.3.RADAR
7.3.1.Overview
7.3.2.Radar Market Forecast and Analysis
7.4.SENSORS
7.4.1.Overview
7.4.2.Sensors Market Forecast and Analysis
7.5.AIS RECEIVER
7.5.1.Overview
7.5.2.AIS Receiver Market Forecast and Analysis
7.6.OTHERS
7.6.1.Overview
7.6.2.Others Market Forecast and Analysis
8.MARITIME SURVEILLANCE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
8.1.OVERVIEW
8.2.TYPE MARKET FORECASTS AND ANALYSIS
8.3.SURVEILLANCE AND TRACKING
8.3.1.Overview
8.3.2.Surveillance and Tracking Market Forecast and Analysis
8.4.DETECTORS
8.4.1.Overview
8.4.2.Detectors Market Forecast and Analysis
8.5.OTHERS
8.5.1.Overview
8.5.2.Others Market Forecast and Analysis
9.MARITIME SURVEILLANCE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1.OVERVIEW
9.2.APPLICATION MARKET FORECASTS AND ANALYSIS
9.3.NAVAL
9.3.1.Overview
9.3.2.Naval Market Forecast and Analysis
9.4.COAST GUARD
9.4.1.Overview
9.4.2.Coast Guard Market Forecast and Analysis
9.5.OTHERS
9.5.1.Overview
9.5.2.Others Market Forecast and Analysis

10.MARITIME SURVEILLANCE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Maritime Surveillance Market Overview
10.1.2North America Maritime Surveillance Market Forecasts and Analysis
10.1.3North America Maritime Surveillance Market Forecasts and Analysis - By Component
10.1.4North America Maritime Surveillance Market Forecasts and Analysis - By Type
10.1.5North America Maritime Surveillance Market Forecasts and Analysis - By Application
10.1.6North America Maritime Surveillance Market Forecasts and Analysis - By Countries
10.1.6.1United States Maritime Surveillance Market
10.1.6.1.1United States Maritime Surveillance Market by Component
10.1.6.1.2United States Maritime Surveillance Market by Type
10.1.6.1.3United States Maritime Surveillance Market by Application
10.1.6.2Canada Maritime Surveillance Market
10.1.6.2.1Canada Maritime Surveillance Market by Component
10.1.6.2.2Canada Maritime Surveillance Market by Type
10.1.6.2.3Canada Maritime Surveillance Market by Application
10.1.6.3Mexico Maritime Surveillance Market
10.1.6.3.1Mexico Maritime Surveillance Market by Component
10.1.6.3.2Mexico Maritime Surveillance Market by Type
10.1.6.3.3Mexico Maritime Surveillance Market by Application
10.2.EUROPE
10.2.1Europe Maritime Surveillance Market Overview
10.2.2Europe Maritime Surveillance Market Forecasts and Analysis
10.2.3Europe Maritime Surveillance Market Forecasts and Analysis - By Component
10.2.4Europe Maritime Surveillance Market Forecasts and Analysis - By Type
10.2.5Europe Maritime Surveillance Market Forecasts and Analysis - By Application
10.2.6Europe Maritime Surveillance Market Forecasts and Analysis - By Countries
10.2.6.1Germany Maritime Surveillance Market
10.2.6.1.1Germany Maritime Surveillance Market by Component
10.2.6.1.2Germany Maritime Surveillance Market by Type
10.2.6.1.3Germany Maritime Surveillance Market by Application
10.2.6.2France Maritime Surveillance Market
10.2.6.2.1France Maritime Surveillance Market by Component
10.2.6.2.2France Maritime Surveillance Market by Type
10.2.6.2.3France Maritime Surveillance Market by Application
10.2.6.3Italy Maritime Surveillance Market
10.2.6.3.1Italy Maritime Surveillance Market by Component
10.2.6.3.2Italy Maritime Surveillance Market by Type
10.2.6.3.3Italy Maritime Surveillance Market by Application
10.2.6.4United Kingdom Maritime Surveillance Market
10.2.6.4.1United Kingdom Maritime Surveillance Market by Component
10.2.6.4.2United Kingdom Maritime Surveillance Market by Type
10.2.6.4.3United Kingdom Maritime Surveillance Market by Application
10.2.6.5Russia Maritime Surveillance Market
10.2.6.5.1Russia Maritime Surveillance Market by Component
10.2.6.5.2Russia Maritime Surveillance Market by Type
10.2.6.5.3Russia Maritime Surveillance Market by Application
10.2.6.6Rest of Europe Maritime Surveillance Market
10.2.6.6.1Rest of Europe Maritime Surveillance Market by Component
10.2.6.6.2Rest of Europe Maritime Surveillance Market by Type
10.2.6.6.3Rest of Europe Maritime Surveillance Market by Application
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Maritime Surveillance Market Overview
10.3.2Asia-Pacific Maritime Surveillance Market Forecasts and Analysis
10.3.3Asia-Pacific Maritime Surveillance Market Forecasts and Analysis - By Component
10.3.4Asia-Pacific Maritime Surveillance Market Forecasts and Analysis - By Type
10.3.5Asia-Pacific Maritime Surveillance Market Forecasts and Analysis - By Application
10.3.6Asia-Pacific Maritime Surveillance Market Forecasts and Analysis - By Countries
10.3.6.1Australia Maritime Surveillance Market
10.3.6.1.1Australia Maritime Surveillance Market by Component
10.3.6.1.2Australia Maritime Surveillance Market by Type
10.3.6.1.3Australia Maritime Surveillance Market by Application
10.3.6.2China Maritime Surveillance Market
10.3.6.2.1China Maritime Surveillance Market by Component
10.3.6.2.2China Maritime Surveillance Market by Type
10.3.6.2.3China Maritime Surveillance Market by Application
10.3.6.3India Maritime Surveillance Market
10.3.6.3.1India Maritime Surveillance Market by Component
10.3.6.3.2India Maritime Surveillance Market by Type
10.3.6.3.3India Maritime Surveillance Market by Application
10.3.6.4Japan Maritime Surveillance Market
10.3.6.4.1Japan Maritime Surveillance Market by Component
10.3.6.4.2Japan Maritime Surveillance Market by Type
10.3.6.4.3Japan Maritime Surveillance Market by Application
10.3.6.5South Korea Maritime Surveillance Market
10.3.6.5.1South Korea Maritime Surveillance Market by Component
10.3.6.5.2South Korea Maritime Surveillance Market by Type
10.3.6.5.3South Korea Maritime Surveillance Market by Application
10.3.6.6Rest of Asia-Pacific Maritime Surveillance Market
10.3.6.6.1Rest of Asia-Pacific Maritime Surveillance Market by Component
10.3.6.6.2Rest of Asia-Pacific Maritime Surveillance Market by Type
10.3.6.6.3Rest of Asia-Pacific Maritime Surveillance Market by Application
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Maritime Surveillance Market Overview
10.4.2Middle East and Africa Maritime Surveillance Market Forecasts and Analysis
10.4.3Middle East and Africa Maritime Surveillance Market Forecasts and Analysis - By Component
10.4.4Middle East and Africa Maritime Surveillance Market Forecasts and Analysis - By Type
10.4.5Middle East and Africa Maritime Surveillance Market Forecasts and Analysis - By Application
10.4.6Middle East and Africa Maritime Surveillance Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Maritime Surveillance Market
10.4.6.1.1South Africa Maritime Surveillance Market by Component
10.4.6.1.2South Africa Maritime Surveillance Market by Type
10.4.6.1.3South Africa Maritime Surveillance Market by Application
10.4.6.2Saudi Arabia Maritime Surveillance Market
10.4.6.2.1Saudi Arabia Maritime Surveillance Market by Component
10.4.6.2.2Saudi Arabia Maritime Surveillance Market by Type
10.4.6.2.3Saudi Arabia Maritime Surveillance Market by Application
10.4.6.3U.A.E Maritime Surveillance Market
10.4.6.3.1U.A.E Maritime Surveillance Market by Component
10.4.6.3.2U.A.E Maritime Surveillance Market by Type
10.4.6.3.3U.A.E Maritime Surveillance Market by Application
10.4.6.4Rest of Middle East and Africa Maritime Surveillance Market
10.4.6.4.1Rest of Middle East and Africa Maritime Surveillance Market by Component
10.4.6.4.2Rest of Middle East and Africa Maritime Surveillance Market by Type
10.4.6.4.3Rest of Middle East and Africa Maritime Surveillance Market by Application
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Maritime Surveillance Market Overview
10.5.2South and Central America Maritime Surveillance Market Forecasts and Analysis
10.5.3South and Central America Maritime Surveillance Market Forecasts and Analysis - By Component
10.5.4South and Central America Maritime Surveillance Market Forecasts and Analysis - By Type
10.5.5South and Central America Maritime Surveillance Market Forecasts and Analysis - By Application
10.5.6South and Central America Maritime Surveillance Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Maritime Surveillance Market
10.5.6.1.1Brazil Maritime Surveillance Market by Component
10.5.6.1.2Brazil Maritime Surveillance Market by Type
10.5.6.1.3Brazil Maritime Surveillance Market by Application
10.5.6.2Argentina Maritime Surveillance Market
10.5.6.2.1Argentina Maritime Surveillance Market by Component
10.5.6.2.2Argentina Maritime Surveillance Market by Type
10.5.6.2.3Argentina Maritime Surveillance Market by Application
10.5.6.3Rest of South and Central America Maritime Surveillance Market
10.5.6.3.1Rest of South and Central America Maritime Surveillance Market by Component
10.5.6.3.2Rest of South and Central America Maritime Surveillance Market by Type
10.5.6.3.3Rest of South and Central America Maritime Surveillance Market by Application

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.MARITIME SURVEILLANCE MARKET, KEY COMPANY PROFILES
12.1.ELBIT SYSTEMS LTD.
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.FURUNO ELECTRIC CO.,LTD
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.INDRA SISTEMAS, S.A.
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.KONGSBERG DEFENCE AND AEROSPACE
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.RAYTHEON TECHNOLOGIES.
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.SAAB AB
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.SRT MARINE SYSTEMS PLC
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.TERMA
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.THALES GROUP
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.TOKYO KEIKI 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. Elbit Systems Ltd.
2. FURUNO ELECTRIC CO.,LTD
3. Indra Sistemas, S.A.
4. Kongsberg Defence and Aerospace
5. Raytheon Technologies.
6. Saab AB
7. SRT Marine Systems plc
8. TERMA
9. Thales Group
10. TOKYO KEIKI INC

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.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

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