Programmable logic controller (PLC) is a solid-state electronic device which is used to control and monitor operations of various types of machines and processes. Micro PLCs are generally compact in size than the regular PLCs with a lesser number of I/O pins. The requirement of compact automation systems is one of the factors driving the growth of the micro PLC market. The market of micro PLC is highly competitive with the presence of a large number of players operating in the market
MARKET SCOPE
The "Global Micro PLC Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the micro PLC market with detailed market segmentation by component, architecture, and industry. The report provides key statistics on the market status of the leading micro PLC market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on component, the global micro PLC market is bifurcated into hardware and software.
- On the basis of architecture, the market is segmented into fixed PLC and modular PLC.
- Based on industry, the market is segmented into automotive, energy and power, oil and gas, pharmaceutical, metals and mining and, others.
MARKET DYNAMICS
Drivers
- Growing focus towards home automation, increasing adoption of IoT connectivity, and integration of micro PLC with HMI are some of the significant factors driving the growth of the micro PLC market.
Restraints
- However, the additional cost incurred with the micro PLCs might limit the growth of the micro PLC 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 micro PLC 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 micro PLC market in these regions.
IMPACT OF COVID-19 ON MICRO PLC 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.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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 micro PLC 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 micro PLC market in these regions.
IMPACT OF COVID-19 ON MICRO PLC 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 micro PLC 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 micro PLC market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the micro PLC 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.
- Eaton
- EMC Automation
- IDEC Corporation
- Infineon Technologies AG
- Mitsubishi Electric Corporation
- MRS Electronic GmbH and Co. KG
- Omron Corporation
- Pixsys Electronics
- Rockwell Automation Inc.
- Yaskawa Europe GmbH
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
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Micro PLC Market - By Component
1.3.2 Micro PLC Market - By Architecture
1.3.3 Micro PLC Market - By Industry
1.3.4 Micro PLC Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MICRO PLC MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. MICRO PLC 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. MICRO PLC MARKET - GLOBAL MARKET ANALYSIS
6.1. MICRO PLC - GLOBAL MARKET OVERVIEW
6.2. MICRO PLC - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. MICRO PLC MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. HARDWARE
7.3.1. Overview
7.3.2. Hardware Market Forecast and Analysis
7.4. SOFTWARE
7.4.1. Overview
7.4.2. Software Market Forecast and Analysis
8. MICRO PLC MARKET - REVENUE AND FORECASTS TO 2028 - ARCHITECTURE
8.1. OVERVIEW
8.2. ARCHITECTURE MARKET FORECASTS AND ANALYSIS
8.3. FIXED PLC
8.3.1. Overview
8.3.2. Fixed PLC Market Forecast and Analysis
8.4. MODULAR PLC
8.4.1. Overview
8.4.2. Modular PLC Market Forecast and Analysis
9. MICRO PLC MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY
9.1. OVERVIEW
9.2. INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. AUTOMOTIVE
9.3.1. Overview
9.3.2. Automotive Market Forecast and Analysis
9.4. ENERGY AND POWER
9.4.1. Overview
9.4.2. Energy and Power Market Forecast and Analysis
9.5. OIL AND GAS
9.5.1. Overview
9.5.2. Oil and Gas Market Forecast and Analysis
9.6. PHARMACEUTICAL
9.6.1. Overview
9.6.2. Pharmaceutical Market Forecast and Analysis
9.7. METALS AND MINING
9.7.1. Overview
9.7.2. Metals and Mining Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. MICRO PLC MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Micro PLC Market Overview
10.1.2 North America Micro PLC Market Forecasts and Analysis
10.1.3 North America Micro PLC Market Forecasts and Analysis - By Component
10.1.4 North America Micro PLC Market Forecasts and Analysis - By Architecture
10.1.5 North America Micro PLC Market Forecasts and Analysis - By Industry
10.1.6 North America Micro PLC Market Forecasts and Analysis - By Countries
10.1.6.1 United States Micro PLC Market
10.1.6.1.1 United States Micro PLC Market by Component
10.1.6.1.2 United States Micro PLC Market by Architecture
10.1.6.1.3 United States Micro PLC Market by Industry
10.1.6.2 Canada Micro PLC Market
10.1.6.2.1 Canada Micro PLC Market by Component
10.1.6.2.2 Canada Micro PLC Market by Architecture
10.1.6.2.3 Canada Micro PLC Market by Industry
10.1.6.3 Mexico Micro PLC Market
10.1.6.3.1 Mexico Micro PLC Market by Component
10.1.6.3.2 Mexico Micro PLC Market by Architecture
10.1.6.3.3 Mexico Micro PLC Market by Industry
10.2. EUROPE
10.2.1 Europe Micro PLC Market Overview
10.2.2 Europe Micro PLC Market Forecasts and Analysis
10.2.3 Europe Micro PLC Market Forecasts and Analysis - By Component
10.2.4 Europe Micro PLC Market Forecasts and Analysis - By Architecture
10.2.5 Europe Micro PLC Market Forecasts and Analysis - By Industry
10.2.6 Europe Micro PLC Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Micro PLC Market
10.2.6.1.1 Germany Micro PLC Market by Component
10.2.6.1.2 Germany Micro PLC Market by Architecture
10.2.6.1.3 Germany Micro PLC Market by Industry
10.2.6.2 France Micro PLC Market
10.2.6.2.1 France Micro PLC Market by Component
10.2.6.2.2 France Micro PLC Market by Architecture
10.2.6.2.3 France Micro PLC Market by Industry
10.2.6.3 Italy Micro PLC Market
10.2.6.3.1 Italy Micro PLC Market by Component
10.2.6.3.2 Italy Micro PLC Market by Architecture
10.2.6.3.3 Italy Micro PLC Market by Industry
10.2.6.4 United Kingdom Micro PLC Market
10.2.6.4.1 United Kingdom Micro PLC Market by Component
10.2.6.4.2 United Kingdom Micro PLC Market by Architecture
10.2.6.4.3 United Kingdom Micro PLC Market by Industry
10.2.6.5 Russia Micro PLC Market
10.2.6.5.1 Russia Micro PLC Market by Component
10.2.6.5.2 Russia Micro PLC Market by Architecture
10.2.6.5.3 Russia Micro PLC Market by Industry
10.2.6.6 Rest of Europe Micro PLC Market
10.2.6.6.1 Rest of Europe Micro PLC Market by Component
10.2.6.6.2 Rest of Europe Micro PLC Market by Architecture
10.2.6.6.3 Rest of Europe Micro PLC Market by Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Micro PLC Market Overview
10.3.2 Asia-Pacific Micro PLC Market Forecasts and Analysis
10.3.3 Asia-Pacific Micro PLC Market Forecasts and Analysis - By Component
10.3.4 Asia-Pacific Micro PLC Market Forecasts and Analysis - By Architecture
10.3.5 Asia-Pacific Micro PLC Market Forecasts and Analysis - By Industry
10.3.6 Asia-Pacific Micro PLC Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Micro PLC Market
10.3.6.1.1 Australia Micro PLC Market by Component
10.3.6.1.2 Australia Micro PLC Market by Architecture
10.3.6.1.3 Australia Micro PLC Market by Industry
10.3.6.2 China Micro PLC Market
10.3.6.2.1 China Micro PLC Market by Component
10.3.6.2.2 China Micro PLC Market by Architecture
10.3.6.2.3 China Micro PLC Market by Industry
10.3.6.3 India Micro PLC Market
10.3.6.3.1 India Micro PLC Market by Component
10.3.6.3.2 India Micro PLC Market by Architecture
10.3.6.3.3 India Micro PLC Market by Industry
10.3.6.4 Japan Micro PLC Market
10.3.6.4.1 Japan Micro PLC Market by Component
10.3.6.4.2 Japan Micro PLC Market by Architecture
10.3.6.4.3 Japan Micro PLC Market by Industry
10.3.6.5 South Korea Micro PLC Market
10.3.6.5.1 South Korea Micro PLC Market by Component
10.3.6.5.2 South Korea Micro PLC Market by Architecture
10.3.6.5.3 South Korea Micro PLC Market by Industry
10.3.6.6 Rest of Asia-Pacific Micro PLC Market
10.3.6.6.1 Rest of Asia-Pacific Micro PLC Market by Component
10.3.6.6.2 Rest of Asia-Pacific Micro PLC Market by Architecture
10.3.6.6.3 Rest of Asia-Pacific Micro PLC Market by Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Micro PLC Market Overview
10.4.2 Middle East and Africa Micro PLC Market Forecasts and Analysis
10.4.3 Middle East and Africa Micro PLC Market Forecasts and Analysis - By Component
10.4.4 Middle East and Africa Micro PLC Market Forecasts and Analysis - By Architecture
10.4.5 Middle East and Africa Micro PLC Market Forecasts and Analysis - By Industry
10.4.6 Middle East and Africa Micro PLC Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Micro PLC Market
10.4.6.1.1 South Africa Micro PLC Market by Component
10.4.6.1.2 South Africa Micro PLC Market by Architecture
10.4.6.1.3 South Africa Micro PLC Market by Industry
10.4.6.2 Saudi Arabia Micro PLC Market
10.4.6.2.1 Saudi Arabia Micro PLC Market by Component
10.4.6.2.2 Saudi Arabia Micro PLC Market by Architecture
10.4.6.2.3 Saudi Arabia Micro PLC Market by Industry
10.4.6.3 U.A.E Micro PLC Market
10.4.6.3.1 U.A.E Micro PLC Market by Component
10.4.6.3.2 U.A.E Micro PLC Market by Architecture
10.4.6.3.3 U.A.E Micro PLC Market by Industry
10.4.6.4 Rest of Middle East and Africa Micro PLC Market
10.4.6.4.1 Rest of Middle East and Africa Micro PLC Market by Component
10.4.6.4.2 Rest of Middle East and Africa Micro PLC Market by Architecture
10.4.6.4.3 Rest of Middle East and Africa Micro PLC Market by Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Micro PLC Market Overview
10.5.2 South and Central America Micro PLC Market Forecasts and Analysis
10.5.3 South and Central America Micro PLC Market Forecasts and Analysis - By Component
10.5.4 South and Central America Micro PLC Market Forecasts and Analysis - By Architecture
10.5.5 South and Central America Micro PLC Market Forecasts and Analysis - By Industry
10.5.6 South and Central America Micro PLC Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Micro PLC Market
10.5.6.1.1 Brazil Micro PLC Market by Component
10.5.6.1.2 Brazil Micro PLC Market by Architecture
10.5.6.1.3 Brazil Micro PLC Market by Industry
10.5.6.2 Argentina Micro PLC Market
10.5.6.2.1 Argentina Micro PLC Market by Component
10.5.6.2.2 Argentina Micro PLC Market by Architecture
10.5.6.2.3 Argentina Micro PLC Market by Industry
10.5.6.3 Rest of South and Central America Micro PLC Market
10.5.6.3.1 Rest of South and Central America Micro PLC Market by Component
10.5.6.3.2 Rest of South and Central America Micro PLC Market by Architecture
10.5.6.3.3 Rest of South and Central America Micro PLC 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. MICRO PLC MARKET, KEY COMPANY PROFILES
12.1. EATON
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. EMC AUTOMATION
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. IDEC CORPORATION
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. INFINEON TECHNOLOGIES AG
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. MITSUBISHI ELECTRIC 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. MRS ELECTRONIC GMBH AND CO. KG
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. OMRON CORPORATION
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. PIXSYS ELECTRONICS
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
12.10. • YASKAWA EUROPE GMBH
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Eaton
2. EMC Automation
3. IDEC Corporation
4. Infineon Technologies AG
5. Mitsubishi Electric Corporation
6. MRS Electronic GmbH and Co. KG
7. Omron Corporation
8. Pixsys Electronics
9. Rockwell Automation Inc.
10. - Yaskawa Europe GmbH
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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