The Passenger Information Display System Market is expected to register a CAGR of 11.6% 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 Component (Hardware, Software, Services); Display Type (LCD Display, LED Display, Others); Mode of Transportation (Roadways, Railways, Airways). 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 Passenger Information Display 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.
Passenger Information Display System Market Segmentation
Component- Hardware
- Software
- Services
- LCD Display
- LED Display
- Roadways
- Railways
- Airways
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South and Central America
Strategic Insights
Passenger Information Display System Market Growth Drivers- Increasing Demand for Real-Time Information: The need for real-time information in public transit systems is growing with increased complexity of transportation systems and passenger demand for more convenience. PIDS provides passengers with timely updates about schedules, delays, routes, and platform changes. This trend is most pronounced in airports, railway stations, and bus terminals, where efficient communication can enhance the passenger experience and operational efficiency. The increasing focus of passenger information display systems on customer satisfaction through better service and travel convenience boosts the market for PIDS.
- Technological Developments: Integration of advanced technologies such as Artificial Intelligence, Internet of Things, and cloud computing into a passenger information display system has brought unprecedented opportunities. AI can thus facilitate the optimization of delivery and allow the system to supply personalized, context-specific information to passengers. IoT enables the collection of real-time data from different sensors in the transport system, which increases the reliability and accuracy of the information provided. These innovations are also making PIDS more interactive and responsive, which is leading to growth in the market.
- Government Initiatives and Smart City Projects: Another key driver for the Passenger Information Display System market is government initiatives aimed at developing smart cities. As governments are investing in digital infrastructure to improve urban mobility, PIDS is an integral part of this effort. In a smart city, transportation is very well integrated with digital technologies, and the real-time information systems play a central role in facilitating smooth travel experiences. The deployment of PIDS in these environments is expected to grow as cities implement more connected and data-driven solutions for public transport management.
- Integration with AI and IoT: The future of the Passenger Information Display System (PIDS) market is leaning towards the integration of Artificial Intelligence (AI) and the Internet of Things (IoT). These technologies enable dynamic and real-time content updates, predictive analytics, and personalized passenger experiences. AI can help in analyzing passenger data to offer tailored information, while IoT integration can enable seamless connectivity with other transportation systems, making passenger journeys smoother and more efficient.
- Urbanization and Public Transport Growth: The rapid pace of urbanization and the increased preference for public transport as a more sustainable mode of traveling is fueling the need for efficient and user-friendly information systems. As cities continue to expand, public transportation networks are required to be developed in such a way that there is an effective PIDS to handle the flow of increasing passengers, update in real time, and make navigation easier. This is more significant in metropolitan areas where mass transit, such as subway, bus, and trains, is largely used.
- Improved Passenger Experience Focus: Transport authorities are focusing more on enhancing the general experience of passengers. PIDS is important in this by providing clear, readable information to avoid confusion and make the passenger feel confident while moving around transport hubs. The popularity of systems that include multimedia elements such as graphics, videos, and audio cues in addition to text is growing. This multimedia approach makes it possible to reach a wider audience, including non-native speakers and people with disabilities, which increases the use of PIDS.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Passenger Information Display 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 Passenger Information Display 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.
REGIONAL FRAMEWORK
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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
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
Government Initiatives and Smart City Projects is anticipated to play a significant role in the global passenger information display system market in the coming years
The major factors driving the passenger information display system market are:
1. Increasing Demand for Real-Time Information
2. Technological Advancements
The global passenger information display system market is expected to grow at a CAGR of 11.6% during the forecast period 2024 - 2031
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Passenger Information Display System Market - By Component
1.3.2Passenger Information Display System Market - By Display Type
1.3.3Passenger Information Display System Market - By Mode of Transportation
1.3.4Passenger Information Display System Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.PASSENGER INFORMATION DISPLAY SYSTEM MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PORTER'S FIVE FORCES ANALYSIS
4.2.1Bargaining Power of Buyers
4.2.1Bargaining Power of Suppliers
4.2.1Threat of Substitute
4.2.1Threat of New Entrants
4.2.1Competitive Rivalry
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.PASSENGER INFORMATION DISPLAY 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.PASSENGER INFORMATION DISPLAY SYSTEM MARKET - GLOBAL MARKET ANALYSIS
6.1.PASSENGER INFORMATION DISPLAY SYSTEM - GLOBAL MARKET OVERVIEW
6.2.PASSENGER INFORMATION DISPLAY SYSTEM - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.PASSENGER INFORMATION DISPLAY SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1.OVERVIEW
7.2.COMPONENT MARKET FORECASTS AND ANALYSIS
7.3.HARDWARE
7.3.1.Overview
7.3.2.Hardware Market Forecast and Analysis
7.4.SOFTWARE
7.4.1.Overview
7.4.2.Software Market Forecast and Analysis
7.5.SERVICES
7.5.1.Overview
7.5.2.Services Market Forecast and Analysis
8.PASSENGER INFORMATION DISPLAY SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - DISPLAY TYPE
8.1.OVERVIEW
8.2.DISPLAY TYPE MARKET FORECASTS AND ANALYSIS
8.3.LCD DISPLAY
8.3.1.Overview
8.3.2.LCD Display Market Forecast and Analysis
8.4.LED DISPLAY
8.4.1.Overview
8.4.2.LED Display Market Forecast and Analysis
8.5.OTHERS
8.5.1.Overview
8.5.2.Others Market Forecast and Analysis
9.PASSENGER INFORMATION DISPLAY SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - MODE OF TRANSPORTATION
9.1.OVERVIEW
9.2.MODE OF TRANSPORTATION MARKET FORECASTS AND ANALYSIS
9.3.ROADWAYS
9.3.1.Overview
9.3.2.Roadways Market Forecast and Analysis
9.4.RAILWAYS
9.4.1.Overview
9.4.2.Railways Market Forecast and Analysis
9.5.AIRWAYS
9.5.1.Overview
9.5.2.Airways Market Forecast and Analysis
10.PASSENGER INFORMATION DISPLAY SYSTEM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Passenger Information Display System Market Overview
10.1.2North America Passenger Information Display System Market Forecasts and Analysis
10.1.3North America Passenger Information Display System Market Forecasts and Analysis - By Component
10.1.4North America Passenger Information Display System Market Forecasts and Analysis - By Display Type
10.1.5North America Passenger Information Display System Market Forecasts and Analysis - By Mode of Transportation
10.1.6North America Passenger Information Display System Market Forecasts and Analysis - By Countries
10.1.6.1United States Passenger Information Display System Market
10.1.6.1.1United States Passenger Information Display System Market by Component
10.1.6.1.2United States Passenger Information Display System Market by Display Type
10.1.6.1.3United States Passenger Information Display System Market by Mode of Transportation
10.1.6.2Canada Passenger Information Display System Market
10.1.6.2.1Canada Passenger Information Display System Market by Component
10.1.6.2.2Canada Passenger Information Display System Market by Display Type
10.1.6.2.3Canada Passenger Information Display System Market by Mode of Transportation
10.1.6.3Mexico Passenger Information Display System Market
10.1.6.3.1Mexico Passenger Information Display System Market by Component
10.1.6.3.2Mexico Passenger Information Display System Market by Display Type
10.1.6.3.3Mexico Passenger Information Display System Market by Mode of Transportation
10.2.EUROPE
10.2.1Europe Passenger Information Display System Market Overview
10.2.2Europe Passenger Information Display System Market Forecasts and Analysis
10.2.3Europe Passenger Information Display System Market Forecasts and Analysis - By Component
10.2.4Europe Passenger Information Display System Market Forecasts and Analysis - By Display Type
10.2.5Europe Passenger Information Display System Market Forecasts and Analysis - By Mode of Transportation
10.2.6Europe Passenger Information Display System Market Forecasts and Analysis - By Countries
10.2.6.1Germany Passenger Information Display System Market
10.2.6.1.1Germany Passenger Information Display System Market by Component
10.2.6.1.2Germany Passenger Information Display System Market by Display Type
10.2.6.1.3Germany Passenger Information Display System Market by Mode of Transportation
10.2.6.2France Passenger Information Display System Market
10.2.6.2.1France Passenger Information Display System Market by Component
10.2.6.2.2France Passenger Information Display System Market by Display Type
10.2.6.2.3France Passenger Information Display System Market by Mode of Transportation
10.2.6.3Italy Passenger Information Display System Market
10.2.6.3.1Italy Passenger Information Display System Market by Component
10.2.6.3.2Italy Passenger Information Display System Market by Display Type
10.2.6.3.3Italy Passenger Information Display System Market by Mode of Transportation
10.2.6.4United Kingdom Passenger Information Display System Market
10.2.6.4.1United Kingdom Passenger Information Display System Market by Component
10.2.6.4.2United Kingdom Passenger Information Display System Market by Display Type
10.2.6.4.3United Kingdom Passenger Information Display System Market by Mode of Transportation
10.2.6.5Russia Passenger Information Display System Market
10.2.6.5.1Russia Passenger Information Display System Market by Component
10.2.6.5.2Russia Passenger Information Display System Market by Display Type
10.2.6.5.3Russia Passenger Information Display System Market by Mode of Transportation
10.2.6.6Rest of Europe Passenger Information Display System Market
10.2.6.6.1Rest of Europe Passenger Information Display System Market by Component
10.2.6.6.2Rest of Europe Passenger Information Display System Market by Display Type
10.2.6.6.3Rest of Europe Passenger Information Display System Market by Mode of Transportation
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Passenger Information Display System Market Overview
10.3.2Asia-Pacific Passenger Information Display System Market Forecasts and Analysis
10.3.3Asia-Pacific Passenger Information Display System Market Forecasts and Analysis - By Component
10.3.4Asia-Pacific Passenger Information Display System Market Forecasts and Analysis - By Display Type
10.3.5Asia-Pacific Passenger Information Display System Market Forecasts and Analysis - By Mode of Transportation
10.3.6Asia-Pacific Passenger Information Display System Market Forecasts and Analysis - By Countries
10.3.6.1Australia Passenger Information Display System Market
10.3.6.1.1Australia Passenger Information Display System Market by Component
10.3.6.1.2Australia Passenger Information Display System Market by Display Type
10.3.6.1.3Australia Passenger Information Display System Market by Mode of Transportation
10.3.6.2China Passenger Information Display System Market
10.3.6.2.1China Passenger Information Display System Market by Component
10.3.6.2.2China Passenger Information Display System Market by Display Type
10.3.6.2.3China Passenger Information Display System Market by Mode of Transportation
10.3.6.3India Passenger Information Display System Market
10.3.6.3.1India Passenger Information Display System Market by Component
10.3.6.3.2India Passenger Information Display System Market by Display Type
10.3.6.3.3India Passenger Information Display System Market by Mode of Transportation
10.3.6.4Japan Passenger Information Display System Market
10.3.6.4.1Japan Passenger Information Display System Market by Component
10.3.6.4.2Japan Passenger Information Display System Market by Display Type
10.3.6.4.3Japan Passenger Information Display System Market by Mode of Transportation
10.3.6.5South Korea Passenger Information Display System Market
10.3.6.5.1South Korea Passenger Information Display System Market by Component
10.3.6.5.2South Korea Passenger Information Display System Market by Display Type
10.3.6.5.3South Korea Passenger Information Display System Market by Mode of Transportation
10.3.6.6Rest of Asia-Pacific Passenger Information Display System Market
10.3.6.6.1Rest of Asia-Pacific Passenger Information Display System Market by Component
10.3.6.6.2Rest of Asia-Pacific Passenger Information Display System Market by Display Type
10.3.6.6.3Rest of Asia-Pacific Passenger Information Display System Market by Mode of Transportation
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Passenger Information Display System Market Overview
10.4.2Middle East and Africa Passenger Information Display System Market Forecasts and Analysis
10.4.3Middle East and Africa Passenger Information Display System Market Forecasts and Analysis - By Component
10.4.4Middle East and Africa Passenger Information Display System Market Forecasts and Analysis - By Display Type
10.4.5Middle East and Africa Passenger Information Display System Market Forecasts and Analysis - By Mode of Transportation
10.4.6Middle East and Africa Passenger Information Display System Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Passenger Information Display System Market
10.4.6.1.1South Africa Passenger Information Display System Market by Component
10.4.6.1.2South Africa Passenger Information Display System Market by Display Type
10.4.6.1.3South Africa Passenger Information Display System Market by Mode of Transportation
10.4.6.2Saudi Arabia Passenger Information Display System Market
10.4.6.2.1Saudi Arabia Passenger Information Display System Market by Component
10.4.6.2.2Saudi Arabia Passenger Information Display System Market by Display Type
10.4.6.2.3Saudi Arabia Passenger Information Display System Market by Mode of Transportation
10.4.6.3U.A.E Passenger Information Display System Market
10.4.6.3.1U.A.E Passenger Information Display System Market by Component
10.4.6.3.2U.A.E Passenger Information Display System Market by Display Type
10.4.6.3.3U.A.E Passenger Information Display System Market by Mode of Transportation
10.4.6.4Rest of Middle East and Africa Passenger Information Display System Market
10.4.6.4.1Rest of Middle East and Africa Passenger Information Display System Market by Component
10.4.6.4.2Rest of Middle East and Africa Passenger Information Display System Market by Display Type
10.4.6.4.3Rest of Middle East and Africa Passenger Information Display System Market by Mode of Transportation
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Passenger Information Display System Market Overview
10.5.2South and Central America Passenger Information Display System Market Forecasts and Analysis
10.5.3South and Central America Passenger Information Display System Market Forecasts and Analysis - By Component
10.5.4South and Central America Passenger Information Display System Market Forecasts and Analysis - By Display Type
10.5.5South and Central America Passenger Information Display System Market Forecasts and Analysis - By Mode of Transportation
10.5.6South and Central America Passenger Information Display System Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Passenger Information Display System Market
10.5.6.1.1Brazil Passenger Information Display System Market by Component
10.5.6.1.2Brazil Passenger Information Display System Market by Display Type
10.5.6.1.3Brazil Passenger Information Display System Market by Mode of Transportation
10.5.6.2Argentina Passenger Information Display System Market
10.5.6.2.1Argentina Passenger Information Display System Market by Component
10.5.6.2.2Argentina Passenger Information Display System Market by Display Type
10.5.6.2.3Argentina Passenger Information Display System Market by Mode of Transportation
10.5.6.3Rest of South and Central America Passenger Information Display System Market
10.5.6.3.1Rest of South and Central America Passenger Information Display System Market by Component
10.5.6.3.2Rest of South and Central America Passenger Information Display System Market by Display Type
10.5.6.3.3Rest of South and Central America Passenger Information Display System Market by Mode of Transportation
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.PASSENGER INFORMATION DISPLAY SYSTEM MARKET, KEY COMPANY PROFILES
12.1.ALSTOM
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.CUBIC CORPORATION
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.HITACHI, LTD.
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.INFOTEC LTD
12.4.1.Key Facts
12.4.2.Business Description
12.4.3.Products and Services
12.4.4.Financial Overview
12.4.5.SWOT Analysis
12.4.6.Key Developments
12.5.MITSUBISHI ELECTRIC CORPORATION
12.5.1.Key Facts
12.5.2.Business Description
12.5.3.Products and Services
12.5.4.Financial Overview
12.5.5.SWOT Analysis
12.5.6.Key Developments
12.6.ROCTEC TECHNOLOGY LIMITED
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.SIEMENS AG
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.TELESTE CORPORATION
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.TOSHIBA 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.TRAINFX LTD.
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. Alstom
2. Cubic Corporation
3. Hitachi, Ltd.
4. Infotec Ltd
5. Mitsubishi Electric Corporation
6. Roctec Technology Limited
7. Siemens AG
8. Teleste Corporation
9. Toshiba Corporation
10. TrainFX Ltd.
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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