Medium Voltage AC Drives Market Developments by 2031
The Medium Voltage AC Drives Market is expected to register a CAGR of 3.8% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Medium Voltage AC Drives Market Report is segmented by Voltage into the following subsegments: Low Voltage and Medium Voltage. It is also segmented by Application, including Pumps, Fans, Compressors, Conveyors, Extruders, and Others. Additionally, the market is categorized by Industry, which includes Oil & Gas, Building Automation, Food & Beverage, and Others. The global analysis is broken down at the regional level and by major countries. The market evaluation is presented in US$ for the above segmental analysis.
Purpose of the ReportThe report Medium Voltage AC Drives 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.
Medium Voltage AC Drives Market Segmentation
Voltage- Low Voltage
- Medium Voltage
- Pumps
- Fans
- Compressors
- Conveyors
- Extruders
- Others
- Oil & Gas
- Building Automation
- Food & Beverage
- Others
Strategic Insights
Medium Voltage AC Drives Market Growth Drivers- Energy efficiency legislation and issues with the environment: To face the pressure of regulations on energy saving and carbon footprints, industrial sectors are now subjected to them. The burden is put directly on demand for energy efficiency in medium voltage AC drives. In this context, such systems help to maximize efficiency in the consumption of energy while cutting down operational costs.
- Industrial Growth and Automation: Induction of oil and gas, mining, and manufacturing industries with an added need for medium voltage AC drives because of the growing needs for automation and process control. The drives bring efficiency in the control of motors, better operation efficiencies, and even increased productivity in industries.
- Aging Infrastructure and Modernization Call: Many industrial plants replace aging electrical infrastructure with medium voltage AC drives that prove to be more efficient and reliable for them. Replacing the archaic system with newer drive technology improves performance, reduces downtime, and increases overall life span.
- Integration with IoT and Smart Control Systems: Medium voltage AC drives become integrated into the IoT-based monitoring and control systems that provide real time performance data, predictive maintenance, and remote diagnostic capabilities. The integration is rather high in industries where chances for unpredictable breakdowns are also high with continuous operations.
- Increased adaptability in renewable energy projects: Because of global transitions towards the utilization of renewable forms of energy, most wind and solar power plants have had to remain adaptable and continue adopting medium voltage AC drives to control generators and turbines to achieve stable operations and integration to the grid.
- Compact and Modular Drive Solutions: With the fast transformation in the industrial landscape related to climate, space, and power utilization, there is an emerging demand for more compact, modular, and scalable medium voltage AC drives-easily integrable with various applications. Robust flexibility across a range of industrial environments, including the very limited-space settings
- Growth in emerging markets: Industrialization in developing economies generates a huge requirement for energy-efficient and reliable motor control solution. Medium-voltage AC drives have good prospects in the emerging economies like Asia-Pacific, Africa, and Latin America.
- Advanced Features and Connectivity: It will allow manufacturers to differenciate this product on regenerative braking, remote monitoring, and fault detection amongst myriad advanced features. Manufacturers will be able to provide for industries requiring high-operational reliability.
- Retrofit and Upgrade Market: As the focus of industries on energy efficiency and optimum operation poses the requirement to retrofit older systems with modern medium voltage AC drives, a huge market surfaces in front of drive manufacturers and service providers.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Medium Voltage AC Drives 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 Medium Voltage AC Drives 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
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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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 market is expected to register a CAGR of 3.8% during 2023–2031.
The major drivers are the increasing demand for energy-efficient and low-cost solutions in industrial automation, the growth in smart grids, and the increasing need for variable speed control systems in order to reduce energy consumption.
Future trends are trends related to the incorporation of the Internet of Things, Artificial Intelligence, and predictive maintenance in drives; changes toward digitalization within industrial applications; and green and energy-efficient technologies entering into manufacturing and power generation.
The major players include ABB, Siemens, Schneider Electric, Hitachi, Fuji Electric Co Ltd, Yaskawa Electric Corp, Honeywell Automation, Danfoss, Rockwell Automation Inc,
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 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.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Medium Voltage AC Drives Market - By Voltage
1.3.2 Medium Voltage AC Drives Market - By Application
1.3.3 Medium Voltage AC Drives Market - By Industry
1.3.4 Medium Voltage AC Drives Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MEDIUM VOLTAGE AC DRIVES 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. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. MEDIUM VOLTAGE AC DRIVES 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. MEDIUM VOLTAGE AC DRIVES MARKET - GLOBAL MARKET ANALYSIS
6.1. MEDIUM VOLTAGE AC DRIVES - GLOBAL MARKET OVERVIEW
6.2. MEDIUM VOLTAGE AC DRIVES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. MEDIUM VOLTAGE AC DRIVES MARKET - REVENUE AND FORECASTS TO 2028 - VOLTAGE
7.1. OVERVIEW
7.2. VOLTAGE MARKET FORECASTS AND ANALYSIS
7.3. LOW VOLTAGE
7.3.1. Overview
7.3.2. Low Voltage Market Forecast and Analysis
7.4. MEDIUM VOLTAGE
7.4.1. Overview
7.4.2. Medium Voltage Market Forecast and Analysis
8. MEDIUM VOLTAGE AC DRIVES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. PUMPS
8.3.1. Overview
8.3.2. Pumps Market Forecast and Analysis
8.4. FANS
8.4.1. Overview
8.4.2. Fans Market Forecast and Analysis
8.5. COMPRESSORS
8.5.1. Overview
8.5.2. Compressors Market Forecast and Analysis
8.6. CONVEYORS
8.6.1. Overview
8.6.2. Conveyors Market Forecast and Analysis
8.7. EXTRUDERS
8.7.1. Overview
8.7.2. Extruders Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. MEDIUM VOLTAGE AC DRIVES MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY
9.1. OVERVIEW
9.2. INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. OIL & GAS
9.3.1. Overview
9.3.2. Oil & Gas Market Forecast and Analysis
9.4. BUILDING AUTOMATION
9.4.1. Overview
9.4.2. Building Automation Market Forecast and Analysis
9.5. FOOD & BEVERAGE
9.5.1. Overview
9.5.2. Food & Beverage Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. MEDIUM VOLTAGE AC DRIVES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Medium Voltage AC Drives Market Overview
10.1.2 North America Medium Voltage AC Drives Market Forecasts and Analysis
10.1.3 North America Medium Voltage AC Drives Market Forecasts and Analysis - By Voltage
10.1.4 North America Medium Voltage AC Drives Market Forecasts and Analysis - By Application
10.1.5 North America Medium Voltage AC Drives Market Forecasts and Analysis - By Industry
10.1.6 North America Medium Voltage AC Drives Market Forecasts and Analysis - By Countries
10.1.6.1 United States Medium Voltage AC Drives Market
10.1.6.1.1 United States Medium Voltage AC Drives Market by Voltage
10.1.6.1.2 United States Medium Voltage AC Drives Market by Application
10.1.6.1.3 United States Medium Voltage AC Drives Market by Industry
10.1.6.2 Canada Medium Voltage AC Drives Market
10.1.6.2.1 Canada Medium Voltage AC Drives Market by Voltage
10.1.6.2.2 Canada Medium Voltage AC Drives Market by Application
10.1.6.2.3 Canada Medium Voltage AC Drives Market by Industry
10.1.6.3 Mexico Medium Voltage AC Drives Market
10.1.6.3.1 Mexico Medium Voltage AC Drives Market by Voltage
10.1.6.3.2 Mexico Medium Voltage AC Drives Market by Application
10.1.6.3.3 Mexico Medium Voltage AC Drives Market by Industry
10.2. EUROPE
10.2.1 Europe Medium Voltage AC Drives Market Overview
10.2.2 Europe Medium Voltage AC Drives Market Forecasts and Analysis
10.2.3 Europe Medium Voltage AC Drives Market Forecasts and Analysis - By Voltage
10.2.4 Europe Medium Voltage AC Drives Market Forecasts and Analysis - By Application
10.2.5 Europe Medium Voltage AC Drives Market Forecasts and Analysis - By Industry
10.2.6 Europe Medium Voltage AC Drives Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Medium Voltage AC Drives Market
10.2.6.1.1 Germany Medium Voltage AC Drives Market by Voltage
10.2.6.1.2 Germany Medium Voltage AC Drives Market by Application
10.2.6.1.3 Germany Medium Voltage AC Drives Market by Industry
10.2.6.2 France Medium Voltage AC Drives Market
10.2.6.2.1 France Medium Voltage AC Drives Market by Voltage
10.2.6.2.2 France Medium Voltage AC Drives Market by Application
10.2.6.2.3 France Medium Voltage AC Drives Market by Industry
10.2.6.3 Italy Medium Voltage AC Drives Market
10.2.6.3.1 Italy Medium Voltage AC Drives Market by Voltage
10.2.6.3.2 Italy Medium Voltage AC Drives Market by Application
10.2.6.3.3 Italy Medium Voltage AC Drives Market by Industry
10.2.6.4 United Kingdom Medium Voltage AC Drives Market
10.2.6.4.1 United Kingdom Medium Voltage AC Drives Market by Voltage
10.2.6.4.2 United Kingdom Medium Voltage AC Drives Market by Application
10.2.6.4.3 United Kingdom Medium Voltage AC Drives Market by Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Medium Voltage AC Drives Market Overview
10.3.2 Asia-Pacific Medium Voltage AC Drives Market Forecasts and Analysis
10.3.3 Asia-Pacific Medium Voltage AC Drives Market Forecasts and Analysis - By Voltage
10.3.4 Asia-Pacific Medium Voltage AC Drives Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Medium Voltage AC Drives Market Forecasts and Analysis - By Industry
10.3.6 Asia-Pacific Medium Voltage AC Drives Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Medium Voltage AC Drives Market
10.3.6.1.1 Australia Medium Voltage AC Drives Market by Voltage
10.3.6.1.2 Australia Medium Voltage AC Drives Market by Application
10.3.6.1.3 Australia Medium Voltage AC Drives Market by Industry
10.3.6.2 China Medium Voltage AC Drives Market
10.3.6.2.1 China Medium Voltage AC Drives Market by Voltage
10.3.6.2.2 China Medium Voltage AC Drives Market by Application
10.3.6.2.3 China Medium Voltage AC Drives Market by Industry
10.3.6.3 India Medium Voltage AC Drives Market
10.3.6.3.1 India Medium Voltage AC Drives Market by Voltage
10.3.6.3.2 India Medium Voltage AC Drives Market by Application
10.3.6.3.3 India Medium Voltage AC Drives Market by Industry
10.3.6.4 Japan Medium Voltage AC Drives Market
10.3.6.4.1 Japan Medium Voltage AC Drives Market by Voltage
10.3.6.4.2 Japan Medium Voltage AC Drives Market by Application
10.3.6.4.3 Japan Medium Voltage AC Drives Market by Industry
10.3.6.5 Rest of Asia-Pacific Medium Voltage AC Drives Market
10.3.6.5.1 Rest of Asia-Pacific Medium Voltage AC Drives Market by Voltage
10.3.6.5.2 Rest of Asia-Pacific Medium Voltage AC Drives Market by Application
10.3.6.5.3 Rest of Asia-Pacific Medium Voltage AC Drives Market by Industry
10.3.6.6 Rest of SouthEast Asia Medium Voltage AC Drives Market
10.3.6.6.1 Rest of SouthEast Asia Medium Voltage AC Drives Market by Voltage
10.3.6.6.2 Rest of SouthEast Asia Medium Voltage AC Drives Market by Application
10.3.6.6.3 Rest of SouthEast Asia Medium Voltage AC Drives Market by Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Medium Voltage AC Drives Market Overview
10.4.2 Middle East and Africa Medium Voltage AC Drives Market Forecasts and Analysis
10.4.3 Middle East and Africa Medium Voltage AC Drives Market Forecasts and Analysis - By Voltage
10.4.4 Middle East and Africa Medium Voltage AC Drives Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Medium Voltage AC Drives Market Forecasts and Analysis - By Industry
10.4.6 Middle East and Africa Medium Voltage AC Drives Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Medium Voltage AC Drives Market
10.4.6.1.1 South Africa Medium Voltage AC Drives Market by Voltage
10.4.6.1.2 South Africa Medium Voltage AC Drives Market by Application
10.4.6.1.3 South Africa Medium Voltage AC Drives Market by Industry
10.4.6.2 Saudi Arabia Medium Voltage AC Drives Market
10.4.6.2.1 Saudi Arabia Medium Voltage AC Drives Market by Voltage
10.4.6.2.2 Saudi Arabia Medium Voltage AC Drives Market by Application
10.4.6.2.3 Saudi Arabia Medium Voltage AC Drives Market by Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Medium Voltage AC Drives Market Overview
10.5.2 South and Central America Medium Voltage AC Drives Market Forecasts and Analysis
10.5.3 South and Central America Medium Voltage AC Drives Market Forecasts and Analysis - By Voltage
10.5.4 South and Central America Medium Voltage AC Drives Market Forecasts and Analysis - By Application
10.5.5 South and Central America Medium Voltage AC Drives Market Forecasts and Analysis - By Industry
10.5.6 South and Central America Medium Voltage AC Drives Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Medium Voltage AC Drives Market
10.5.6.1.1 Brazil Medium Voltage AC Drives Market by Voltage
10.5.6.1.2 Brazil Medium Voltage AC Drives Market by Application
10.5.6.1.3 Brazil Medium Voltage AC Drives Market by Industry
10.5.6.2 Argentina Medium Voltage AC Drives Market
10.5.6.2.1 Argentina Medium Voltage AC Drives Market by Voltage
10.5.6.2.2 Argentina Medium Voltage AC Drives Market by Application
10.5.6.2.3 Argentina Medium Voltage AC Drives Market by Industry
10.5.6.3 Rest of South and Central America Medium Voltage AC Drives Market
10.5.6.3.1 Rest of South and Central America Medium Voltage AC Drives Market by Voltage
10.5.6.3.2 Rest of South and Central America Medium Voltage AC Drives Market by Application
10.5.6.3.3 Rest of South and Central America Medium Voltage AC Drives Market by Industry
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. MEDIUM VOLTAGE AC DRIVES MARKET, KEY COMPANY PROFILES
12.1. ABB
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. SIEMENS
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. SCHNEIDER ELECTRIC
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. HITACHI
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. FUJI ELECTRIC CO. LTD.
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. YASKAWA ELECTRIC CORP.
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. HONEYWELL AUTOMATION
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. DANFOSS
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. ROCKWELL AUTOMATION INC.
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
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1.ABB
2.Siemens
3.Schneider Electric
4.Hitachi
5.Fuji Electric Co. Ltd.
6.Yaskawa Electric Corp.
7.Honeywell Automation
8.Danfoss
9.Rockwell Automation Inc.
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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