The Parking Reservation System Market is expected to register a CAGR of 11.4% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Type (Off-Street Parking, On-Street Parking); Solution (Web-Based Solution, Mobile Application-Based Solution, Voice Call-Based Solution); Industry Vertical (Transportation and Transit, Retail, Government, Hospitality, Recreation, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Parking Reservation System 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.
Parking Reservation System Market Segmentation
Type- Off-Street Parking
- On-Street Parking
- Web-Based Solution
- Mobile Application-Based Solution
- Voice Call-Based Solution
- Transportation and Transit
- Retail
- Government
- Hospitality
- Recreation
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Parking Reservation System Market Growth Drivers- Urbanization and Increased Vehicle Ownership: While cities are expanding into colossal urban areas, the demand for parking space has increased, necessitating another tier of parking management. Rising disposable incomes and the growing private and commercial vehicular population have complicated management. Parking reservation systems could assist effectively in allocating parking resources in busy urban areas.
- Need for Efficiency and Time-Saving: Parking reservation systems are designed for saving time for drivers by enabling them to occupy a particular parking space before reaching a destination, hence eliminating time wasted in search of a parking space. These systems also aim to increase better use of parking lots, with a resultant relative decrease in traffic congestion and thereby increase parking experience overall.
- Environmental and Sustainability Concerns: These systems are really a solution toward sustainability, for by lessening the time that the drivers spend looking for a parking space they would spend less on fuel and cut carbon emissions. With these new parking systems, energy-efficient solutions such as LED lights, electric vehicle charges, and solar power parking meters have become widely adopted.
- Dynamic Pricing and Real-Time Availability: The trend of dynamic pricing based on real-time demand is gaining momentum in the parking reservation system market. Similar to how ride-hailing services like Uber apply surge pricing, parking systems are beginning to use real-time data to adjust pricing for parking spaces depending on demand, location, and time of day. This trend is aimed at optimizing the use of parking spaces, encouraging drivers to park in less crowded areas, and generating higher revenue for parking facility operators. The integration of such dynamic pricing models into parking reservation systems is expected to become a standard feature in the coming years.
- Government Regulations and Support : Various elements of intellectual infrastructure have seen increasing government investment for the sake of improving urban mobility, among which parking reservation systems deserve special mention. Various municipalities have thereby written up the use of technology as an answer to traffic congestion, pollution, and inefficient land use. Parking management systems promise to alleviate those issues.
- Expansion of Smart Cities and IoT Integration: As smart cities continue to grow and integrate more Internet of Things (IoT) technologies, there is a significant opportunity for parking reservation systems to become part of the broader urban mobility ecosystem. IoT-enabled parking systems can provide real-time data on available parking spaces, offer dynamic pricing based on demand, and optimize parking management. Companies offering parking reservation systems can expand their market share by partnering with smart city initiatives, offering solutions that contribute to the overall efficiency and sustainability of urban environments.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Parking Reservation System 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 Parking Reservation System 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.
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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
- 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
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to country scope.
Frequently Asked Questions
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
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Growing Environmental and Sustainability Concerns is anticipated to play a significant role in the global Parking Reservation System market in the coming years
The major factors driving the Parking Reservation System market are Urbanization and Increased Vehicle Ownership and Need for Efficiency and Time-Saving.
The Parking Reservation System Market is estimated to witness a CAGR of 11.4% from 2023 to 2031
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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 Parking Reservation System Market - By Type
1.3.2 Parking Reservation System Market - By Solution
1.3.3 Parking Reservation System Market - By Industry Vertical
1.3.4 Parking Reservation System Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PARKING RESERVATION SYSTEM 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. PARKING RESERVATION SYSTEM 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. PARKING RESERVATION SYSTEM MARKET - GLOBAL MARKET ANALYSIS
6.1. PARKING RESERVATION SYSTEM - GLOBAL MARKET OVERVIEW
6.2. PARKING RESERVATION SYSTEM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PARKING RESERVATION SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. OFF-STREET PARKING
7.3.1. Overview
7.3.2. Off-Street Parking Market Forecast and Analysis
7.4. ON-STREET PARKING
7.4.1. Overview
7.4.2. On-Street Parking Market Forecast and Analysis
8. PARKING RESERVATION SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - SOLUTION
8.1. OVERVIEW
8.2. SOLUTION MARKET FORECASTS AND ANALYSIS
8.3. WEB-BASED SOLUTION
8.3.1. Overview
8.3.2. Web-Based Solution Market Forecast and Analysis
8.4. MOBILE APPLICATION-BASED SOLUTION
8.4.1. Overview
8.4.2. Mobile Application-Based Solution Market Forecast and Analysis
8.5. VOICE CALL-BASED SOLUTION
8.5.1. Overview
8.5.2. Voice Call-Based Solution Market Forecast and Analysis
9. PARKING RESERVATION SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY VERTICAL
9.1. OVERVIEW
9.2. INDUSTRY VERTICAL MARKET FORECASTS AND ANALYSIS
9.3. TRANSPORTATION AND TRANSIT
9.3.1. Overview
9.3.2. Transportation and Transit Market Forecast and Analysis
9.4. RETAIL
9.4.1. Overview
9.4.2. Retail Market Forecast and Analysis
9.5. GOVERNMENT
9.5.1. Overview
9.5.2. Government Market Forecast and Analysis
9.6. HOSPITALITY
9.6.1. Overview
9.6.2. Hospitality Market Forecast and Analysis
9.7. RECREATION
9.7.1. Overview
9.7.2. Recreation Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. PARKING RESERVATION SYSTEM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Parking Reservation System Market Overview
10.1.2 North America Parking Reservation System Market Forecasts and Analysis
10.1.3 North America Parking Reservation System Market Forecasts and Analysis - By Type
10.1.4 North America Parking Reservation System Market Forecasts and Analysis - By Solution
10.1.5 North America Parking Reservation System Market Forecasts and Analysis - By Industry Vertical
10.1.6 North America Parking Reservation System Market Forecasts and Analysis - By Countries
10.1.6.1 United States Parking Reservation System Market
10.1.6.1.1 United States Parking Reservation System Market by Type
10.1.6.1.2 United States Parking Reservation System Market by Solution
10.1.6.1.3 United States Parking Reservation System Market by Industry Vertical
10.1.6.2 Canada Parking Reservation System Market
10.1.6.2.1 Canada Parking Reservation System Market by Type
10.1.6.2.2 Canada Parking Reservation System Market by Solution
10.1.6.2.3 Canada Parking Reservation System Market by Industry Vertical
10.1.6.3 Mexico Parking Reservation System Market
10.1.6.3.1 Mexico Parking Reservation System Market by Type
10.1.6.3.2 Mexico Parking Reservation System Market by Solution
10.1.6.3.3 Mexico Parking Reservation System Market by Industry Vertical
10.2. EUROPE
10.2.1 Europe Parking Reservation System Market Overview
10.2.2 Europe Parking Reservation System Market Forecasts and Analysis
10.2.3 Europe Parking Reservation System Market Forecasts and Analysis - By Type
10.2.4 Europe Parking Reservation System Market Forecasts and Analysis - By Solution
10.2.5 Europe Parking Reservation System Market Forecasts and Analysis - By Industry Vertical
10.2.6 Europe Parking Reservation System Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Parking Reservation System Market
10.2.6.1.1 Germany Parking Reservation System Market by Type
10.2.6.1.2 Germany Parking Reservation System Market by Solution
10.2.6.1.3 Germany Parking Reservation System Market by Industry Vertical
10.2.6.2 France Parking Reservation System Market
10.2.6.2.1 France Parking Reservation System Market by Type
10.2.6.2.2 France Parking Reservation System Market by Solution
10.2.6.2.3 France Parking Reservation System Market by Industry Vertical
10.2.6.3 Italy Parking Reservation System Market
10.2.6.3.1 Italy Parking Reservation System Market by Type
10.2.6.3.2 Italy Parking Reservation System Market by Solution
10.2.6.3.3 Italy Parking Reservation System Market by Industry Vertical
10.2.6.4 United Kingdom Parking Reservation System Market
10.2.6.4.1 United Kingdom Parking Reservation System Market by Type
10.2.6.4.2 United Kingdom Parking Reservation System Market by Solution
10.2.6.4.3 United Kingdom Parking Reservation System Market by Industry Vertical
10.2.6.5 Russia Parking Reservation System Market
10.2.6.5.1 Russia Parking Reservation System Market by Type
10.2.6.5.2 Russia Parking Reservation System Market by Solution
10.2.6.5.3 Russia Parking Reservation System Market by Industry Vertical
10.2.6.6 Rest of Europe Parking Reservation System Market
10.2.6.6.1 Rest of Europe Parking Reservation System Market by Type
10.2.6.6.2 Rest of Europe Parking Reservation System Market by Solution
10.2.6.6.3 Rest of Europe Parking Reservation System Market by Industry Vertical
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Parking Reservation System Market Overview
10.3.2 Asia-Pacific Parking Reservation System Market Forecasts and Analysis
10.3.3 Asia-Pacific Parking Reservation System Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Parking Reservation System Market Forecasts and Analysis - By Solution
10.3.5 Asia-Pacific Parking Reservation System Market Forecasts and Analysis - By Industry Vertical
10.3.6 Asia-Pacific Parking Reservation System Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Parking Reservation System Market
10.3.6.1.1 Australia Parking Reservation System Market by Type
10.3.6.1.2 Australia Parking Reservation System Market by Solution
10.3.6.1.3 Australia Parking Reservation System Market by Industry Vertical
10.3.6.2 China Parking Reservation System Market
10.3.6.2.1 China Parking Reservation System Market by Type
10.3.6.2.2 China Parking Reservation System Market by Solution
10.3.6.2.3 China Parking Reservation System Market by Industry Vertical
10.3.6.3 India Parking Reservation System Market
10.3.6.3.1 India Parking Reservation System Market by Type
10.3.6.3.2 India Parking Reservation System Market by Solution
10.3.6.3.3 India Parking Reservation System Market by Industry Vertical
10.3.6.4 Japan Parking Reservation System Market
10.3.6.4.1 Japan Parking Reservation System Market by Type
10.3.6.4.2 Japan Parking Reservation System Market by Solution
10.3.6.4.3 Japan Parking Reservation System Market by Industry Vertical
10.3.6.5 South Korea Parking Reservation System Market
10.3.6.5.1 South Korea Parking Reservation System Market by Type
10.3.6.5.2 South Korea Parking Reservation System Market by Solution
10.3.6.5.3 South Korea Parking Reservation System Market by Industry Vertical
10.3.6.6 Rest of Asia-Pacific Parking Reservation System Market
10.3.6.6.1 Rest of Asia-Pacific Parking Reservation System Market by Type
10.3.6.6.2 Rest of Asia-Pacific Parking Reservation System Market by Solution
10.3.6.6.3 Rest of Asia-Pacific Parking Reservation System Market by Industry Vertical
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Parking Reservation System Market Overview
10.4.2 Middle East and Africa Parking Reservation System Market Forecasts and Analysis
10.4.3 Middle East and Africa Parking Reservation System Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Parking Reservation System Market Forecasts and Analysis - By Solution
10.4.5 Middle East and Africa Parking Reservation System Market Forecasts and Analysis - By Industry Vertical
10.4.6 Middle East and Africa Parking Reservation System Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Parking Reservation System Market
10.4.6.1.1 South Africa Parking Reservation System Market by Type
10.4.6.1.2 South Africa Parking Reservation System Market by Solution
10.4.6.1.3 South Africa Parking Reservation System Market by Industry Vertical
10.4.6.2 Saudi Arabia Parking Reservation System Market
10.4.6.2.1 Saudi Arabia Parking Reservation System Market by Type
10.4.6.2.2 Saudi Arabia Parking Reservation System Market by Solution
10.4.6.2.3 Saudi Arabia Parking Reservation System Market by Industry Vertical
10.4.6.3 U.A.E Parking Reservation System Market
10.4.6.3.1 U.A.E Parking Reservation System Market by Type
10.4.6.3.2 U.A.E Parking Reservation System Market by Solution
10.4.6.3.3 U.A.E Parking Reservation System Market by Industry Vertical
10.4.6.4 Rest of Middle East and Africa Parking Reservation System Market
10.4.6.4.1 Rest of Middle East and Africa Parking Reservation System Market by Type
10.4.6.4.2 Rest of Middle East and Africa Parking Reservation System Market by Solution
10.4.6.4.3 Rest of Middle East and Africa Parking Reservation System Market by Industry Vertical
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Parking Reservation System Market Overview
10.5.2 South and Central America Parking Reservation System Market Forecasts and Analysis
10.5.3 South and Central America Parking Reservation System Market Forecasts and Analysis - By Type
10.5.4 South and Central America Parking Reservation System Market Forecasts and Analysis - By Solution
10.5.5 South and Central America Parking Reservation System Market Forecasts and Analysis - By Industry Vertical
10.5.6 South and Central America Parking Reservation System Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Parking Reservation System Market
10.5.6.1.1 Brazil Parking Reservation System Market by Type
10.5.6.1.2 Brazil Parking Reservation System Market by Solution
10.5.6.1.3 Brazil Parking Reservation System Market by Industry Vertical
10.5.6.2 Argentina Parking Reservation System Market
10.5.6.2.1 Argentina Parking Reservation System Market by Type
10.5.6.2.2 Argentina Parking Reservation System Market by Solution
10.5.6.2.3 Argentina Parking Reservation System Market by Industry Vertical
10.5.6.3 Rest of South and Central America Parking Reservation System Market
10.5.6.3.1 Rest of South and Central America Parking Reservation System Market by Type
10.5.6.3.2 Rest of South and Central America Parking Reservation System Market by Solution
10.5.6.3.3 Rest of South and Central America Parking Reservation System Market by Industry Vertical
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. PARKING RESERVATION SYSTEM MARKET, KEY COMPANY PROFILES
12.1. ACE PARKING MANAGEMENT INC.
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. AIDC GROUP
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. APCOA PARKING HOLDINGS GMBH
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. INRIX 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. JUSTPARK LIMITED
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. LAZ PARKING
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. PARK24 CO., LTD.
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. Q-PARK
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. SP PLUS CORPORATION
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. STREETLINE
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
The List of Companies
1. Ace Parking Management Inc.
2. AIDC Group
3. APCOA PARKING Holdings GmbH
4. INRIX Inc.
5. JustPark Limited
6. LAZ Parking
7. Park24 Co., Ltd.
8. Q-Park
9. SP Plus Corporation
10. Streetline
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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