Mining Automation Market Key Findings and Size by 2031
The Mining Automation Market is expected to register a CAGR of 7.2% 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 Technique (Underground Mining, Surface Mining), Component (Equipment, Software, Communication Devices), and Application (Mine Development, Mining Process, Mine Maintenance). The global analysis is further broken down at the regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Mining Automation 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.
Mining Automation Market Segmentation
Technique- Underground Mining
- Surface Mining
- Equipment
- Software
- Communication Devices
- Mine Development
- Mining Process
- Mine Maintenance
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Mining Automation Market Growth Drivers- Reduction of expenses and improvements in effectiveness: Mining enterprises are always compelled to cut down on their operational expenses as well as improve their effectiveness mostly because of the changing prices of commodities as well as increasing labor costs. The integration of automated systems such as driverless trucks, drills, and even loaders reduces dependence on human labor erratic procedures and enhances overall efficiency. Moreover, due to automation, there is better control of the processes, lesser idle times, and better extraction of resources, which translates into lower operational costs.
- Health and Safety Concerns: There is no doubt about it that, mining is one of those industries that present a lot of dangers for the workers, more so in underground mining and distant operations. The objective of automation technology is to alleviate the amount of time and risk an individual has to spend doing dangerous tasks. In jobs such as blasting and drilling, as well as the transport of materials, machines can now do these tasks, thereby reducing the need for human labor. Furthermore, this extends to social sustainability since resource management practices help conserve energy and mitigate the impacts of mining on the environment.
- Advancements in AI and Machine Learning for Predictive Maintenance: Integration of artificial intelligence (AI) and machine learning (ML) in the mining automation field is one of the most promising aspects. These allow the prediction of equipment failure using real-time data gathered from sensors so that the equipment can be repaired before the damage occurs. This is beneficial since it reduces the downtime of the machine. Predictive maintenance offers extended life to the assets and reduces causes of idle time, and thus, costs continue to trend downwards.
- The Growth of Autonomous Fleet Management: The introduction of autonomous fleets - self-driving haul trucks and autonomous drilling rigs, among others - is being embraced at an unprecedented rate in the mining industry. More and more companies are adopting total fleet management, and in that process, logistics become highly automated. A good example is the case of autonomous trucks, which can operate around the clock for days on end without breakdowns caused by demanding human management. Provided that premise, it’s easy to imagine how such a solution can be applied even on more remote, poorly manned mining sites where human ability to take up certain functions becomes a challenge.
- Digitalization in Mining Processes and the Emergence of Smart Mines: The primary trend is perhaps in the emerging mining technologies - the adoption of the mining industry digitalization. The emergence of smart mines, which combine IoT sensors, real-time analytics, and cloud computing, has changed the operational dynamics of mining. Smart mines enhance the existing system with improved connectivity, better resource management, and superior decision-making. This comes as companies also embrace digital twins, telemetry and control systems, and various levels of automation in mining processes. As a result, the mining sector is on the way to becoming more interconnected, information-rich, and productive. This acceleration of the transition is anticipated to continue as mining operators maintain investments in digital technologies and automatic machinery.
- Emergence of Automation in Underground Mining: Although automation has been widely adopted in open-pit mining, there is significant growth potential in underground mining automation. Underground operations are more complex and hazardous, making automation essential for enhancing safety and operational efficiency. The adoption of autonomous drilling, mapping, and transportation systems in underground mining is an opportunity for companies to innovate and drive growth in this segment of the market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Mining Automation 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 Mining Automation 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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- 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
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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 Mining Automation Market is estimated to witness a CAGR of 7.2% from 2023 to 2031
The major factors driving the mining automation market are:
1.Reduction of expenses and improvements in effectiveness.
2.Health and Safety Concerns
Advancements in AI and Machine Learning for Predictive Maintenance are likely to remain a key trend in the market.
Key players in the mining automation market include Atlas Copco AB, Autonomous Solution Inc., Caterpillar, Epiroc AB, Hexagon AB, Hitachi, Ltd., Komatsu Ltd., Liebherr Group, MST (Mine Site Technologies), and Rio Tinto
Some of the customization options available based on the request are an 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 Mining Automation Market - By Technique
1.3.2 Mining Automation Market - By Component
1.3.3 Mining Automation Market - By Application
1.3.4 Mining Automation Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MINING AUTOMATION 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. MINING AUTOMATION 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. MINING AUTOMATION MARKET - GLOBAL MARKET ANALYSIS
6.1. MINING AUTOMATION - GLOBAL MARKET OVERVIEW
6.2. MINING AUTOMATION - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. MINING AUTOMATION MARKET - REVENUE AND FORECASTS TO 2028 - TECHNIQUE
7.1. OVERVIEW
7.2. TECHNIQUE MARKET FORECASTS AND ANALYSIS
7.3. UNDERGROUND MINING
7.3.1. Overview
7.3.2. Underground Mining Market Forecast and Analysis
7.4. SURFACE MINING
7.4.1. Overview
7.4.2. Surface Mining Market Forecast and Analysis
8. MINING AUTOMATION MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
8.1. OVERVIEW
8.2. COMPONENT MARKET FORECASTS AND ANALYSIS
8.3. EQUIPMENT
8.3.1. Overview
8.3.2. Equipment Market Forecast and Analysis
8.4. SOFTWARE
8.4.1. Overview
8.4.2. Software Market Forecast and Analysis
8.5. COMMUNICATION DEVICES
8.5.1. Overview
8.5.2. Communication Devices Market Forecast and Analysis
9. MINING AUTOMATION MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. MINE DEVELOPMENT
9.3.1. Overview
9.3.2. Mine Development Market Forecast and Analysis
9.4. MINING PROCESS
9.4.1. Overview
9.4.2. Mining Process Market Forecast and Analysis
9.5. MINE MAINTENANCE
9.5.1. Overview
9.5.2. Mine Maintenance Market Forecast and Analysis
10. MINING AUTOMATION MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Mining Automation Market Overview
10.1.2 North America Mining Automation Market Forecasts and Analysis
10.1.3 North America Mining Automation Market Forecasts and Analysis - By Technique
10.1.4 North America Mining Automation Market Forecasts and Analysis - By Component
10.1.5 North America Mining Automation Market Forecasts and Analysis - By Application
10.1.6 North America Mining Automation Market Forecasts and Analysis - By Countries
10.1.6.1 United States Mining Automation Market
10.1.6.1.1 United States Mining Automation Market by Technique
10.1.6.1.2 United States Mining Automation Market by Component
10.1.6.1.3 United States Mining Automation Market by Application
10.1.6.2 Canada Mining Automation Market
10.1.6.2.1 Canada Mining Automation Market by Technique
10.1.6.2.2 Canada Mining Automation Market by Component
10.1.6.2.3 Canada Mining Automation Market by Application
10.1.6.3 Mexico Mining Automation Market
10.1.6.3.1 Mexico Mining Automation Market by Technique
10.1.6.3.2 Mexico Mining Automation Market by Component
10.1.6.3.3 Mexico Mining Automation Market by Application
10.2. EUROPE
10.2.1 Europe Mining Automation Market Overview
10.2.2 Europe Mining Automation Market Forecasts and Analysis
10.2.3 Europe Mining Automation Market Forecasts and Analysis - By Technique
10.2.4 Europe Mining Automation Market Forecasts and Analysis - By Component
10.2.5 Europe Mining Automation Market Forecasts and Analysis - By Application
10.2.6 Europe Mining Automation Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Mining Automation Market
10.2.6.1.1 Germany Mining Automation Market by Technique
10.2.6.1.2 Germany Mining Automation Market by Component
10.2.6.1.3 Germany Mining Automation Market by Application
10.2.6.2 France Mining Automation Market
10.2.6.2.1 France Mining Automation Market by Technique
10.2.6.2.2 France Mining Automation Market by Component
10.2.6.2.3 France Mining Automation Market by Application
10.2.6.3 Italy Mining Automation Market
10.2.6.3.1 Italy Mining Automation Market by Technique
10.2.6.3.2 Italy Mining Automation Market by Component
10.2.6.3.3 Italy Mining Automation Market by Application
10.2.6.4 United Kingdom Mining Automation Market
10.2.6.4.1 United Kingdom Mining Automation Market by Technique
10.2.6.4.2 United Kingdom Mining Automation Market by Component
10.2.6.4.3 United Kingdom Mining Automation Market by Application
10.2.6.5 Russia Mining Automation Market
10.2.6.5.1 Russia Mining Automation Market by Technique
10.2.6.5.2 Russia Mining Automation Market by Component
10.2.6.5.3 Russia Mining Automation Market by Application
10.2.6.6 Rest of Europe Mining Automation Market
10.2.6.6.1 Rest of Europe Mining Automation Market by Technique
10.2.6.6.2 Rest of Europe Mining Automation Market by Component
10.2.6.6.3 Rest of Europe Mining Automation Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Mining Automation Market Overview
10.3.2 Asia-Pacific Mining Automation Market Forecasts and Analysis
10.3.3 Asia-Pacific Mining Automation Market Forecasts and Analysis - By Technique
10.3.4 Asia-Pacific Mining Automation Market Forecasts and Analysis - By Component
10.3.5 Asia-Pacific Mining Automation Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Mining Automation Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Mining Automation Market
10.3.6.1.1 Australia Mining Automation Market by Technique
10.3.6.1.2 Australia Mining Automation Market by Component
10.3.6.1.3 Australia Mining Automation Market by Application
10.3.6.2 China Mining Automation Market
10.3.6.2.1 China Mining Automation Market by Technique
10.3.6.2.2 China Mining Automation Market by Component
10.3.6.2.3 China Mining Automation Market by Application
10.3.6.3 India Mining Automation Market
10.3.6.3.1 India Mining Automation Market by Technique
10.3.6.3.2 India Mining Automation Market by Component
10.3.6.3.3 India Mining Automation Market by Application
10.3.6.4 Japan Mining Automation Market
10.3.6.4.1 Japan Mining Automation Market by Technique
10.3.6.4.2 Japan Mining Automation Market by Component
10.3.6.4.3 Japan Mining Automation Market by Application
10.3.6.5 South Korea Mining Automation Market
10.3.6.5.1 South Korea Mining Automation Market by Technique
10.3.6.5.2 South Korea Mining Automation Market by Component
10.3.6.5.3 South Korea Mining Automation Market by Application
10.3.6.6 Rest of Asia-Pacific Mining Automation Market
10.3.6.6.1 Rest of Asia-Pacific Mining Automation Market by Technique
10.3.6.6.2 Rest of Asia-Pacific Mining Automation Market by Component
10.3.6.6.3 Rest of Asia-Pacific Mining Automation Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Mining Automation Market Overview
10.4.2 Middle East and Africa Mining Automation Market Forecasts and Analysis
10.4.3 Middle East and Africa Mining Automation Market Forecasts and Analysis - By Technique
10.4.4 Middle East and Africa Mining Automation Market Forecasts and Analysis - By Component
10.4.5 Middle East and Africa Mining Automation Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Mining Automation Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Mining Automation Market
10.4.6.1.1 South Africa Mining Automation Market by Technique
10.4.6.1.2 South Africa Mining Automation Market by Component
10.4.6.1.3 South Africa Mining Automation Market by Application
10.4.6.2 Saudi Arabia Mining Automation Market
10.4.6.2.1 Saudi Arabia Mining Automation Market by Technique
10.4.6.2.2 Saudi Arabia Mining Automation Market by Component
10.4.6.2.3 Saudi Arabia Mining Automation Market by Application
10.4.6.3 U.A.E Mining Automation Market
10.4.6.3.1 U.A.E Mining Automation Market by Technique
10.4.6.3.2 U.A.E Mining Automation Market by Component
10.4.6.3.3 U.A.E Mining Automation Market by Application
10.4.6.4 Rest of Middle East and Africa Mining Automation Market
10.4.6.4.1 Rest of Middle East and Africa Mining Automation Market by Technique
10.4.6.4.2 Rest of Middle East and Africa Mining Automation Market by Component
10.4.6.4.3 Rest of Middle East and Africa Mining Automation Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Mining Automation Market Overview
10.5.2 South and Central America Mining Automation Market Forecasts and Analysis
10.5.3 South and Central America Mining Automation Market Forecasts and Analysis - By Technique
10.5.4 South and Central America Mining Automation Market Forecasts and Analysis - By Component
10.5.5 South and Central America Mining Automation Market Forecasts and Analysis - By Application
10.5.6 South and Central America Mining Automation Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Mining Automation Market
10.5.6.1.1 Brazil Mining Automation Market by Technique
10.5.6.1.2 Brazil Mining Automation Market by Component
10.5.6.1.3 Brazil Mining Automation Market by Application
10.5.6.2 Argentina Mining Automation Market
10.5.6.2.1 Argentina Mining Automation Market by Technique
10.5.6.2.2 Argentina Mining Automation Market by Component
10.5.6.2.3 Argentina Mining Automation Market by Application
10.5.6.3 Rest of South and Central America Mining Automation Market
10.5.6.3.1 Rest of South and Central America Mining Automation Market by Technique
10.5.6.3.2 Rest of South and Central America Mining Automation Market by Component
10.5.6.3.3 Rest of South and Central America Mining Automation 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. MINING AUTOMATION MARKET, KEY COMPANY PROFILES
12.1. ABB 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. AUTONOMOUS SOLUTIONS INC.
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. ATLAS COPCO
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. CATERPILLAR INC.
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. HEXAGON AB
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. KOMATSU LTD.
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. ROCKWELL AUTOMATION, INC.
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. SANDVIK AB
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. SIEMENS AG
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. TRIMBLE 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
1. ABB Ltd.
2. Autonomous Solutions Inc.
3. Atlas Copco
4. Caterpillar Inc.
5. Hexagon AB
6. Komatsu Ltd.
7. Rockwell Automation, Inc.
8. Sandvik AB
9. Siemens AG
10. Trimble 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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