Mileage Tracking Software Market SWOT Analysis by 2031
Mileage tracking software is used to calculate the distance travelled by the user in a given period of time. The software is widely used for organizations to monitor and manage the distance travelled by their employees. Such software used for recording distance travelled by employee for tax and reimbursement purposes. The software is majorly used by field service technicians, sales personnel, project managers, and other employees.
MARKET DYNAMICS
Owing the increasing in inclination for tracking and monitoring the activities and movement of field employees the mileage tracking software market is gaining traction. However, lack of adoption by small and medium organization in developing countries is hampering the growth of the mileage tracking software market. Meanwhile, the increasing reporting norms for regulatory compliances is anticipated to flourish the mileage tracking software market in forth coming future.
MARKET SCOPE
The "Mileage Tracking Software Market Analysis to 2031" is a specialized and in-depth study of the technology, media, and telecommunication with a special focus on the global market trend analysis. The report aims to provide an overview of mileage tracking software market with detailed market segmentation by type, deployment, industry vertical, and geography. The global mileage tracking software market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading mileage tracking software market players and offers key trends and opportunities in the mileage tracking software market.
MARKET SEGMENTATION
The global mileage tracking software market is segmented on the basis of deployment, organization size, and subscription type. On the basis of deployment, the market is segmented as web based and cloud based. On the basis of organization size, the market is segmented as SMEs and large enterprise. On the basis of deployment, the market is segmented as web based and cloud based. On the basis of subscription type, the market is segmented as monthly and annually.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global mileage tracking software market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The mileage tracking software market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting mileage tracking software market from both demand and supply side and further evaluates market dynamics effecting the market during 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 effecting the mileage tracking software market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global mileage tracking software market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The mileage tracking software market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting mileage tracking software market from both demand and supply side and further evaluates market dynamics effecting the market during 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 effecting the mileage tracking software market in these regions.
MARKET PLAYERS
The reports cover key developments in the mileage tracking software 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 market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from mileage tracking software market are anticipated to lucrative growth opportunities in the future with the rising demand for aircraft brakes market. Below mentioned is the list of few companies engaged in the aircraft brakes market.
The report also includes the profiles of key mileage tracking software market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- BizLog
- Everlance
- Fyle
- MileCatcher
- MileIQ
- Motus
- StreetSmart
- SureMileage
- Timeero
- TripLog
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.
Frequently Asked Questions
The market is expected to register a CAGR of 14% during 2021–2032
The need for accurate reporting of mileage has created an opportunity for Mileage Tracking Software Market, fueled by the increasing trend of working remotely and rise in the gig economy. The market is expected to expand further due to the regulatory changes and tax incentives offered by various government bodies.
Key trends in this market nclude the rising levels of automation through mobile apps allowing mileage logging in real-time, integration into expense and fleet management systems, and the use of data analytics to help businesses to lower their costs and enhance their decision-making.
Key players in this market are - BizLog, Everlance, Fyle, MileCatcher, MileIQ, Motus, StreetSmart, SureMileage, Timeero
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 Mileage Tracking Software Market - By Deployment Type
1.3.2 Mileage Tracking Software Market - By Organization Size
1.3.3 Mileage Tracking Software Market - By Subscription Type
1.3.4 Mileage Tracking Software Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MILEAGE TRACKING SOFTWARE 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. MILEAGE TRACKING SOFTWARE 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. MILEAGE TRACKING SOFTWARE MARKET - GLOBAL MARKET ANALYSIS
6.1. MILEAGE TRACKING SOFTWARE - GLOBAL MARKET OVERVIEW
6.2. MILEAGE TRACKING SOFTWARE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. MILEAGE TRACKING SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT TYPE
7.1. OVERVIEW
7.2. DEPLOYMENT TYPE MARKET FORECASTS AND ANALYSIS
7.3. CLOUD BASED
7.3.1. Overview
7.3.2. Cloud Based Market Forecast and Analysis
7.4. WEB BASED
7.4.1. Overview
7.4.2. Web Based Market Forecast and Analysis
8. MILEAGE TRACKING SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - ORGANIZATION SIZE
8.1. OVERVIEW
8.2. ORGANIZATION SIZE MARKET FORECASTS AND ANALYSIS
8.3. LARGE ENTERPRISES
8.3.1. Overview
8.3.2. Large Enterprises Market Forecast and Analysis
8.4. SMES
8.4.1. Overview
8.4.2. SMEs Market Forecast and Analysis
9. MILEAGE TRACKING SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - SUBSCRIPTION TYPE
9.1. OVERVIEW
9.2. SUBSCRIPTION TYPE MARKET FORECASTS AND ANALYSIS
9.3. MONTHLY
9.3.1. Overview
9.3.2. Monthly Market Forecast and Analysis
9.4. ANNUALLY
9.4.1. Overview
9.4.2. Annually Market Forecast and Analysis
10. MILEAGE TRACKING SOFTWARE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Mileage Tracking Software Market Overview
10.1.2 North America Mileage Tracking Software Market Forecasts and Analysis
10.1.3 North America Mileage Tracking Software Market Forecasts and Analysis - By Deployment Type
10.1.4 North America Mileage Tracking Software Market Forecasts and Analysis - By Organization Size
10.1.5 North America Mileage Tracking Software Market Forecasts and Analysis - By Subscription Type
10.1.6 North America Mileage Tracking Software Market Forecasts and Analysis - By Countries
10.1.6.1 United States Mileage Tracking Software Market
10.1.6.1.1 United States Mileage Tracking Software Market by Deployment Type
10.1.6.1.2 United States Mileage Tracking Software Market by Organization Size
10.1.6.1.3 United States Mileage Tracking Software Market by Subscription Type
10.1.6.2 Canada Mileage Tracking Software Market
10.1.6.2.1 Canada Mileage Tracking Software Market by Deployment Type
10.1.6.2.2 Canada Mileage Tracking Software Market by Organization Size
10.1.6.2.3 Canada Mileage Tracking Software Market by Subscription Type
10.1.6.3 Mexico Mileage Tracking Software Market
10.1.6.3.1 Mexico Mileage Tracking Software Market by Deployment Type
10.1.6.3.2 Mexico Mileage Tracking Software Market by Organization Size
10.1.6.3.3 Mexico Mileage Tracking Software Market by Subscription Type
10.2. EUROPE
10.2.1 Europe Mileage Tracking Software Market Overview
10.2.2 Europe Mileage Tracking Software Market Forecasts and Analysis
10.2.3 Europe Mileage Tracking Software Market Forecasts and Analysis - By Deployment Type
10.2.4 Europe Mileage Tracking Software Market Forecasts and Analysis - By Organization Size
10.2.5 Europe Mileage Tracking Software Market Forecasts and Analysis - By Subscription Type
10.2.6 Europe Mileage Tracking Software Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Mileage Tracking Software Market
10.2.6.1.1 Germany Mileage Tracking Software Market by Deployment Type
10.2.6.1.2 Germany Mileage Tracking Software Market by Organization Size
10.2.6.1.3 Germany Mileage Tracking Software Market by Subscription Type
10.2.6.2 France Mileage Tracking Software Market
10.2.6.2.1 France Mileage Tracking Software Market by Deployment Type
10.2.6.2.2 France Mileage Tracking Software Market by Organization Size
10.2.6.2.3 France Mileage Tracking Software Market by Subscription Type
10.2.6.3 Italy Mileage Tracking Software Market
10.2.6.3.1 Italy Mileage Tracking Software Market by Deployment Type
10.2.6.3.2 Italy Mileage Tracking Software Market by Organization Size
10.2.6.3.3 Italy Mileage Tracking Software Market by Subscription Type
10.2.6.4 United Kingdom Mileage Tracking Software Market
10.2.6.4.1 United Kingdom Mileage Tracking Software Market by Deployment Type
10.2.6.4.2 United Kingdom Mileage Tracking Software Market by Organization Size
10.2.6.4.3 United Kingdom Mileage Tracking Software Market by Subscription Type
10.2.6.5 Russia Mileage Tracking Software Market
10.2.6.5.1 Russia Mileage Tracking Software Market by Deployment Type
10.2.6.5.2 Russia Mileage Tracking Software Market by Organization Size
10.2.6.5.3 Russia Mileage Tracking Software Market by Subscription Type
10.2.6.6 Rest of Europe Mileage Tracking Software Market
10.2.6.6.1 Rest of Europe Mileage Tracking Software Market by Deployment Type
10.2.6.6.2 Rest of Europe Mileage Tracking Software Market by Organization Size
10.2.6.6.3 Rest of Europe Mileage Tracking Software Market by Subscription Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Mileage Tracking Software Market Overview
10.3.2 Asia-Pacific Mileage Tracking Software Market Forecasts and Analysis
10.3.3 Asia-Pacific Mileage Tracking Software Market Forecasts and Analysis - By Deployment Type
10.3.4 Asia-Pacific Mileage Tracking Software Market Forecasts and Analysis - By Organization Size
10.3.5 Asia-Pacific Mileage Tracking Software Market Forecasts and Analysis - By Subscription Type
10.3.6 Asia-Pacific Mileage Tracking Software Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Mileage Tracking Software Market
10.3.6.1.1 Australia Mileage Tracking Software Market by Deployment Type
10.3.6.1.2 Australia Mileage Tracking Software Market by Organization Size
10.3.6.1.3 Australia Mileage Tracking Software Market by Subscription Type
10.3.6.2 China Mileage Tracking Software Market
10.3.6.2.1 China Mileage Tracking Software Market by Deployment Type
10.3.6.2.2 China Mileage Tracking Software Market by Organization Size
10.3.6.2.3 China Mileage Tracking Software Market by Subscription Type
10.3.6.3 India Mileage Tracking Software Market
10.3.6.3.1 India Mileage Tracking Software Market by Deployment Type
10.3.6.3.2 India Mileage Tracking Software Market by Organization Size
10.3.6.3.3 India Mileage Tracking Software Market by Subscription Type
10.3.6.4 Japan Mileage Tracking Software Market
10.3.6.4.1 Japan Mileage Tracking Software Market by Deployment Type
10.3.6.4.2 Japan Mileage Tracking Software Market by Organization Size
10.3.6.4.3 Japan Mileage Tracking Software Market by Subscription Type
10.3.6.5 South Korea Mileage Tracking Software Market
10.3.6.5.1 South Korea Mileage Tracking Software Market by Deployment Type
10.3.6.5.2 South Korea Mileage Tracking Software Market by Organization Size
10.3.6.5.3 South Korea Mileage Tracking Software Market by Subscription Type
10.3.6.6 Rest of Asia-Pacific Mileage Tracking Software Market
10.3.6.6.1 Rest of Asia-Pacific Mileage Tracking Software Market by Deployment Type
10.3.6.6.2 Rest of Asia-Pacific Mileage Tracking Software Market by Organization Size
10.3.6.6.3 Rest of Asia-Pacific Mileage Tracking Software Market by Subscription Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Mileage Tracking Software Market Overview
10.4.2 Middle East and Africa Mileage Tracking Software Market Forecasts and Analysis
10.4.3 Middle East and Africa Mileage Tracking Software Market Forecasts and Analysis - By Deployment Type
10.4.4 Middle East and Africa Mileage Tracking Software Market Forecasts and Analysis - By Organization Size
10.4.5 Middle East and Africa Mileage Tracking Software Market Forecasts and Analysis - By Subscription Type
10.4.6 Middle East and Africa Mileage Tracking Software Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Mileage Tracking Software Market
10.4.6.1.1 South Africa Mileage Tracking Software Market by Deployment Type
10.4.6.1.2 South Africa Mileage Tracking Software Market by Organization Size
10.4.6.1.3 South Africa Mileage Tracking Software Market by Subscription Type
10.4.6.2 Saudi Arabia Mileage Tracking Software Market
10.4.6.2.1 Saudi Arabia Mileage Tracking Software Market by Deployment Type
10.4.6.2.2 Saudi Arabia Mileage Tracking Software Market by Organization Size
10.4.6.2.3 Saudi Arabia Mileage Tracking Software Market by Subscription Type
10.4.6.3 U.A.E Mileage Tracking Software Market
10.4.6.3.1 U.A.E Mileage Tracking Software Market by Deployment Type
10.4.6.3.2 U.A.E Mileage Tracking Software Market by Organization Size
10.4.6.3.3 U.A.E Mileage Tracking Software Market by Subscription Type
10.4.6.4 Rest of Middle East and Africa Mileage Tracking Software Market
10.4.6.4.1 Rest of Middle East and Africa Mileage Tracking Software Market by Deployment Type
10.4.6.4.2 Rest of Middle East and Africa Mileage Tracking Software Market by Organization Size
10.4.6.4.3 Rest of Middle East and Africa Mileage Tracking Software Market by Subscription Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Mileage Tracking Software Market Overview
10.5.2 South and Central America Mileage Tracking Software Market Forecasts and Analysis
10.5.3 South and Central America Mileage Tracking Software Market Forecasts and Analysis - By Deployment Type
10.5.4 South and Central America Mileage Tracking Software Market Forecasts and Analysis - By Organization Size
10.5.5 South and Central America Mileage Tracking Software Market Forecasts and Analysis - By Subscription Type
10.5.6 South and Central America Mileage Tracking Software Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Mileage Tracking Software Market
10.5.6.1.1 Brazil Mileage Tracking Software Market by Deployment Type
10.5.6.1.2 Brazil Mileage Tracking Software Market by Organization Size
10.5.6.1.3 Brazil Mileage Tracking Software Market by Subscription Type
10.5.6.2 Argentina Mileage Tracking Software Market
10.5.6.2.1 Argentina Mileage Tracking Software Market by Deployment Type
10.5.6.2.2 Argentina Mileage Tracking Software Market by Organization Size
10.5.6.2.3 Argentina Mileage Tracking Software Market by Subscription Type
10.5.6.3 Rest of South and Central America Mileage Tracking Software Market
10.5.6.3.1 Rest of South and Central America Mileage Tracking Software Market by Deployment Type
10.5.6.3.2 Rest of South and Central America Mileage Tracking Software Market by Organization Size
10.5.6.3.3 Rest of South and Central America Mileage Tracking Software Market by Subscription Type
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. MILEAGE TRACKING SOFTWARE MARKET, KEY COMPANY PROFILES
12.1. BIZLOG
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. EVERLANCE
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. FYLE
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. MILECATCHER
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. MILEIQ
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. MOTUS
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. STREETSMART
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. SUREMILEAGE
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. TIMEERO
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. TRIPLOG
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
2. Everlance
3. Fyle
4. MileCatcher
5. MileIQ
6. Motus
7. StreetSmart
8. SureMileage
9. Timeero
10. TripLog
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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