Oil and Gas Automation Control Systems Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
MARKET INTRODUCTION
Oil & gas automation & control systems includes sensors and various electronic and mechanical components that enables monitoring the flow of oil and gas by automating the opening and closing of the oil & gas valves. These systems are utilized for emergency shutdown of oil & gas production facilities, checking flows in the pipelines and smoothening processes across oil & gas refineries.
MARKET DYNAMICS
The decrease in oil price is increasing the need for oil and gas companies to lower their production costs to remain profitable. Automation is one of the major area for cost reduction in the entire production chain starting from oil drilling to processing. Therefore, oil & gas companies are automating their processes to reduce their costs and thereby influencing the growth of the oil & gas automation control system market.
MARKET SCOPE
The "Global Oil & Gas Automation Control System Market Analysis To 2031" is a specialized and in-depth study of the technology, media, and telecommunications industry with a special focus on global market trend analysis. The oil & gas automation control system market report aims to provide an overview of the oil & gas automation control system market with detailed market segmentation by automation technology, process, and geography. The global oil & gas automation control system market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading oil & gas automation control system market player and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global oil & gas automation control system market is segmented based on automation technology, process. Based on automation technology, the oil & gas automation control system market is segmented into Distributed Control System (DCS), Programmable Logic Controller (PLC), Safety Instrumented System (SIS), Supervisory Control and Data Acquisition (SCADA), Manufacturing Execution System (MES), Other. Based on process, the oil & gas automation control system market is segmented into the upstream, midstream, downstream.
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 oil & gas automation control system 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), Middle East and Africa (MEA) and South & Central America. The oil & gas automation control system market by each region is later sub-segmented by respective countries and segments. The oil & gas automation control system market 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 oil & gas automation control system market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the oil & gas automation control system market in these regions.
IMPACT OF COVID-19 ON OIL & GAS AUTOMATION CONTROL SYSTEM MARKET
The sudden outbreak of the COIVD-19 pandemic negatively impacted the growth of the global oil & gas automation control system market. The demand for oil & gas automation control system from the oil & gas industry declined significantly from the owing to strict lockdown imposed by government bodies which affect the demand side of the market. Additionally, the stringent lockdown imposed by various government bodies across impacted the oil & gas automation control system manufacturing thereby impacting the growth of the global oil & gas automation control system market from the supply side as well.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global oil & gas automation control system 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), Middle East and Africa (MEA) and South & Central America. The oil & gas automation control system market by each region is later sub-segmented by respective countries and segments. The oil & gas automation control system market 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 oil & gas automation control system market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the oil & gas automation control system market in these regions.
IMPACT OF COVID-19 ON OIL & GAS AUTOMATION CONTROL SYSTEM MARKET
The sudden outbreak of the COIVD-19 pandemic negatively impacted the growth of the global oil & gas automation control system market. The demand for oil & gas automation control system from the oil & gas industry declined significantly from the owing to strict lockdown imposed by government bodies which affect the demand side of the market. Additionally, the stringent lockdown imposed by various government bodies across impacted the oil & gas automation control system manufacturing thereby impacting the growth of the global oil & gas automation control system market from the supply side as well.
MARKET PLAYERS
The reports cover key developments in the oil & gas automation control system 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 the expansion of business and customer base of market players. The market players from oil & gas automation control system market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the oil & gas automation control system market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the oil & gas automation control system 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.
- ABB
- Mitsubishi Electric Corporation
- Cameron International Corporation
- Emerson Electric
- Honeywell International Inc.
- Rockwell Automation
- Siemens AG
- Yokogawa Electric Corp.
- Schneider Electric
- Texas Instruments
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.
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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.
Table Of Contents
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Oil And Gas Automation Control Systems Market - By Automation Technology
1.3.2 Oil And Gas Automation Control Systems Market - By Process
1.3.3 Oil And Gas Automation Control Systems Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. OIL AND GAS AUTOMATION CONTROL SYSTEMS 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. EXPERT OPINIONS
5. OIL AND GAS AUTOMATION CONTROL SYSTEMS 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. OIL AND GAS AUTOMATION CONTROL SYSTEMS MARKET - GLOBAL MARKET ANALYSIS
6.1. OIL AND GAS AUTOMATION CONTROL SYSTEMS - GLOBAL MARKET OVERVIEW
6.2. OIL AND GAS AUTOMATION CONTROL SYSTEMS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. OIL AND GAS AUTOMATION CONTROL SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - AUTOMATION TECHNOLOGY
7.1. OVERVIEW
7.2. AUTOMATION TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. DISTRIBUTED CONTROL SYSTEM (DCS)
7.3.1. Overview
7.3.2. Distributed Control System (DCS) Market Forecast and Analysis
7.4. PROGRAMMABLE LOGIC CONTROLLER (PLC)
7.4.1. Overview
7.4.2. Programmable Logic Controller (PLC) Market Forecast and Analysis
7.5. SAFETY INSTRUMENTED SYSTEM (SIS)
7.5.1. Overview
7.5.2. Safety Instrumented System (SIS) Market Forecast and Analysis
7.6. SUPERVISORY CONTROL AND DATA ACQUISITION (SCADA)
7.6.1. Overview
7.6.2. Supervisory Control and Data Acquisition (SCADA) Market Forecast and Analysis
7.7. MANUFACTURING EXECUTION SYSTEM (MES)
7.7.1. Overview
7.7.2. Manufacturing Execution System (MES) Market Forecast and Analysis
7.8. OTHER
7.8.1. Overview
7.8.2. Other Market Forecast and Analysis
8. OIL AND GAS AUTOMATION CONTROL SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - PROCESS
8.1. OVERVIEW
8.2. PROCESS MARKET FORECASTS AND ANALYSIS
8.3. UPSTREAM
8.3.1. Overview
8.3.2. Upstream Market Forecast and Analysis
8.4. MIDSTREAM
8.4.1. Overview
8.4.2. Midstream Market Forecast and Analysis
8.5. DOWNSTREAM
8.5.1. Overview
8.5.2. Downstream Market Forecast and Analysis
9. OIL AND GAS AUTOMATION CONTROL SYSTEMS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Oil And Gas Automation Control Systems Market Overview
9.1.2 North America Oil And Gas Automation Control Systems Market Forecasts and Analysis
9.1.3 North America Oil And Gas Automation Control Systems Market Forecasts and Analysis - By Automation Technology
9.1.4 North America Oil And Gas Automation Control Systems Market Forecasts and Analysis - By Process
9.1.5 North America Oil And Gas Automation Control Systems Market Forecasts and Analysis - By Countries
9.1.5.1 United States Oil And Gas Automation Control Systems Market
9.1.5.1.1 United States Oil And Gas Automation Control Systems Market by Automation Technology
9.1.5.1.2 United States Oil And Gas Automation Control Systems Market by Process
9.1.5.2 Canada Oil And Gas Automation Control Systems Market
9.1.5.2.1 Canada Oil And Gas Automation Control Systems Market by Automation Technology
9.1.5.2.2 Canada Oil And Gas Automation Control Systems Market by Process
9.1.5.3 Mexico Oil And Gas Automation Control Systems Market
9.1.5.3.1 Mexico Oil And Gas Automation Control Systems Market by Automation Technology
9.1.5.3.2 Mexico Oil And Gas Automation Control Systems Market by Process
9.2. EUROPE
9.2.1 Europe Oil And Gas Automation Control Systems Market Overview
9.2.2 Europe Oil And Gas Automation Control Systems Market Forecasts and Analysis
9.2.3 Europe Oil And Gas Automation Control Systems Market Forecasts and Analysis - By Automation Technology
9.2.4 Europe Oil And Gas Automation Control Systems Market Forecasts and Analysis - By Process
9.2.5 Europe Oil And Gas Automation Control Systems Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Oil And Gas Automation Control Systems Market
9.2.5.1.1 Germany Oil And Gas Automation Control Systems Market by Automation Technology
9.2.5.1.2 Germany Oil And Gas Automation Control Systems Market by Process
9.2.5.2 France Oil And Gas Automation Control Systems Market
9.2.5.2.1 France Oil And Gas Automation Control Systems Market by Automation Technology
9.2.5.2.2 France Oil And Gas Automation Control Systems Market by Process
9.2.5.3 Spain Oil And Gas Automation Control Systems Market
9.2.5.3.1 Spain Oil And Gas Automation Control Systems Market by Automation Technology
9.2.5.3.2 Spain Oil And Gas Automation Control Systems Market by Process
9.2.5.4 United Kingdom Oil And Gas Automation Control Systems Market
9.2.5.4.1 United Kingdom Oil And Gas Automation Control Systems Market by Automation Technology
9.2.5.4.2 United Kingdom Oil And Gas Automation Control Systems Market by Process
9.2.5.5 Russia Oil And Gas Automation Control Systems Market
9.2.5.5.1 Russia Oil And Gas Automation Control Systems Market by Automation Technology
9.2.5.5.2 Russia Oil And Gas Automation Control Systems Market by Process
9.2.5.6 Rest of Europe Oil And Gas Automation Control Systems Market
9.2.5.6.1 Rest of Europe Oil And Gas Automation Control Systems Market by Automation Technology
9.2.5.6.2 Rest of Europe Oil And Gas Automation Control Systems Market by Process
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Oil And Gas Automation Control Systems Market Overview
9.3.2 Asia-Pacific Oil And Gas Automation Control Systems Market Forecasts and Analysis
9.3.3 Asia-Pacific Oil And Gas Automation Control Systems Market Forecasts and Analysis - By Automation Technology
9.3.4 Asia-Pacific Oil And Gas Automation Control Systems Market Forecasts and Analysis - By Process
9.3.5 Asia-Pacific Oil And Gas Automation Control Systems Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Oil And Gas Automation Control Systems Market
9.3.5.1.1 Australia Oil And Gas Automation Control Systems Market by Automation Technology
9.3.5.1.2 Australia Oil And Gas Automation Control Systems Market by Process
9.3.5.2 China Oil And Gas Automation Control Systems Market
9.3.5.2.1 China Oil And Gas Automation Control Systems Market by Automation Technology
9.3.5.2.2 China Oil And Gas Automation Control Systems Market by Process
9.3.5.3 India Oil And Gas Automation Control Systems Market
9.3.5.3.1 India Oil And Gas Automation Control Systems Market by Automation Technology
9.3.5.3.2 India Oil And Gas Automation Control Systems Market by Process
9.3.5.4 Japan Oil And Gas Automation Control Systems Market
9.3.5.4.1 Japan Oil And Gas Automation Control Systems Market by Automation Technology
9.3.5.4.2 Japan Oil And Gas Automation Control Systems Market by Process
9.3.5.5 South Korea Oil And Gas Automation Control Systems Market
9.3.5.5.1 South Korea Oil And Gas Automation Control Systems Market by Automation Technology
9.3.5.5.2 South Korea Oil And Gas Automation Control Systems Market by Process
9.3.5.6 Rest of Asia-Pacific Oil And Gas Automation Control Systems Market
9.3.5.6.1 Rest of Asia-Pacific Oil And Gas Automation Control Systems Market by Automation Technology
9.3.5.6.2 Rest of Asia-Pacific Oil And Gas Automation Control Systems Market by Process
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Oil And Gas Automation Control Systems Market Overview
9.4.2 Middle East and Africa Oil And Gas Automation Control Systems Market Forecasts and Analysis
9.4.3 Middle East and Africa Oil And Gas Automation Control Systems Market Forecasts and Analysis - By Automation Technology
9.4.4 Middle East and Africa Oil And Gas Automation Control Systems Market Forecasts and Analysis - By Process
9.4.5 Middle East and Africa Oil And Gas Automation Control Systems Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Oil And Gas Automation Control Systems Market
9.4.5.1.1 South Africa Oil And Gas Automation Control Systems Market by Automation Technology
9.4.5.1.2 South Africa Oil And Gas Automation Control Systems Market by Process
9.4.5.2 Saudi Arabia Oil And Gas Automation Control Systems Market
9.4.5.2.1 Saudi Arabia Oil And Gas Automation Control Systems Market by Automation Technology
9.4.5.2.2 Saudi Arabia Oil And Gas Automation Control Systems Market by Process
9.4.5.3 U.A.E Oil And Gas Automation Control Systems Market
9.4.5.3.1 U.A.E Oil And Gas Automation Control Systems Market by Automation Technology
9.4.5.3.2 U.A.E Oil And Gas Automation Control Systems Market by Process
9.4.5.4 Rest of Middle East and Africa Oil And Gas Automation Control Systems Market
9.4.5.4.1 Rest of Middle East and Africa Oil And Gas Automation Control Systems Market by Automation Technology
9.4.5.4.2 Rest of Middle East and Africa Oil And Gas Automation Control Systems Market by Process
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Oil And Gas Automation Control Systems Market Overview
9.5.2 South and Central America Oil And Gas Automation Control Systems Market Forecasts and Analysis
9.5.3 South and Central America Oil And Gas Automation Control Systems Market Forecasts and Analysis - By Automation Technology
9.5.4 South and Central America Oil And Gas Automation Control Systems Market Forecasts and Analysis - By Process
9.5.5 South and Central America Oil And Gas Automation Control Systems Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Oil And Gas Automation Control Systems Market
9.5.5.1.1 Brazil Oil And Gas Automation Control Systems Market by Automation Technology
9.5.5.1.2 Brazil Oil And Gas Automation Control Systems Market by Process
9.5.5.2 Argentina Oil And Gas Automation Control Systems Market
9.5.5.2.1 Argentina Oil And Gas Automation Control Systems Market by Automation Technology
9.5.5.2.2 Argentina Oil And Gas Automation Control Systems Market by Process
9.5.5.3 Rest of South and Central America Oil And Gas Automation Control Systems Market
9.5.5.3.1 Rest of South and Central America Oil And Gas Automation Control Systems Market by Automation Technology
9.5.5.3.2 Rest of South and Central America Oil And Gas Automation Control Systems Market by Process
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. OIL AND GAS AUTOMATION CONTROL SYSTEMS MARKET, KEY COMPANY PROFILES
11.1. ABB
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. MITSUBISHI ELECTRIC CORPORATION
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CAMERON INTERNATIONAL CORPORATION
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. EMERSON ELECTRIC
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. HONEYWELL INTERNATIONAL INC.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. ROCKWELL AUTOMATION
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. SIEMENS AG
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. YOKOGAWA ELECTRIC CORP.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SCHNEIDER ELECTRIC
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TEXAS INSTRUMENTS
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List Of Companies
- ABB
- Mitsubishi Electric Corporation
- Cameron International Corporation
- Emerson Electric
- Honeywell International Inc.
- Rockwell Automation
- Siemens AG
- Yokogawa Electric Corp.
- Schneider Electric
- Texas Instruments
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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