Pest Control Market Trends, Size and Forecast (2021-2031)
The Pest Control Market is expected to register a CAGR of 6% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report presents analysis based on pest type (termites, cockroaches, mosquitoes and flies, rodents, and others). The report is segmented by product type (baits, sprays, traps, powder, and others). The report is segmented by end use (residential, commercial, industrial, and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Pest Control 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.
Pest Control Market Segmentation
Pest Type- Termites
- Cockroaches
- Mosquitoes and Flies
- Rodents
- Others
- Baits
- Sprays
- Traps
- Powder
- Others
- Residential
- Commercial
- Industrial
- Others
- 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
Pest Control Market Growth Drivers- Health and Hygiene Awareness Driving Market Growth: The growth of the market is majorly influenced by health and hygiene awareness. Consumers and businesses are going to great lengths today to avoid pests and seek pest management solutions to increase global awareness of the health risks associated with pests. Pests such as rodents, mosquitoes, and cockroaches, known and documented disease carriers, therefore contribute to increasing demand for pest control services.
- Demand for Pest Control in Residential and Commercial Spaces: With increased public awareness of hygiene and diseases, there has thus been a demand for pest control in residential and commercial areas. With such moves by this food industry, healthcare institutions, and hospitality businesses, they focus on pest management, creating sanitary environments that will protect the customers as well as the employees from potential health risks.
- Rise in Vector-Borne Diseases Fueling Pest Control Solutions: Vector-borne diseases, such as mosquitoes and ticks, have increased more to implement pest control solutions. The growing awareness campaigns regarding diseases like malaria, dengue, and Zika virus have encouraged people and governments to spend money on effective pest management methods, thus further boosting growth in the market.
- Integration of Technology Transforms the Pest Control Market: Integration of technology is one of the most rapidly changing trends that changes the pest control market. The revolutionary smart pest control systems, like IoT-enabled devices, have transformed pest monitoring and management into making made possible to track real-time pest activity. It enables more effective and timely interventions for residential and commercial clients.
- AI and Data Analytics Enhance Pest Control Efficiency: Advances in data analytics and AI continue to enhance pest control. Early detection tools based on AI can better detect infestations much earlier and identify them more accurately, resulting in targeted treatments to minimize chemical usage. Such results lead to even more efficient, eco-friendly pest management, appealing to conscious consumers in the marketplace.
- Drones and Autonomous Equipment Improve Pest Control Operations: There is also the new application of drones and other autonomous equipment for pest control. Drones have already been applied in large-scale agricultural systems as an aerial monitor to scout the pest population and the areas needing treatment. This technology increases efficiency in operations, decreases labor expenses, and leads to more accurate practices of pest management in agriculture and cities.
- Urban Growth in Developing Countries Driving Pest Control Demand: A significant number of developing countries are experiencing high rates of growth in the urban population, and many possess great potential to support the growth of pest control markets. These factors tend to heighten the need for effective pest control management within the city for high populations. Sanitation or waste management often proves difficult and adds to pest infestation within the cities, and thus, people would look towards hiring professionals to control pest conditions.
- Rising Health Consciousness Boosts Pest Control Market: Greater prosperity in developing economies has led to an increased awareness of hygiene and health consciousness among the urban middle class. With an increase in disposable income, consumers are willing to spend more on pest control products and services to protect their homes, businesses, and public spaces. This, in turn, is leading to higher demand for pest control solutions in residential and commercial markets.
- Pest Control in the Construction and Real Estate Sectors: The other category is the construction and real estate sectors of developing nations. Newly erected buildings, especially in areas where cities are increasing, give rise to pest infestations during and after construction. Therefore, pest control services are always needed before and after building new developments and already existing cities.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Pest Control 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 Pest Control 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
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
The Pest Control Market is estimated to witness a CAGR of 6% from 2023 to 2031
Health and hygiene awareness is driving the market growth.
BASF SE; Environmental Science US Inc; FMC Corporation; Fort Products Ltd; Liphatech Inc; Neogen Corp; Nihon Nohyaku Co Ltd; PelGar International; Sumitomo Chemical Co Ltd; and Syngenta AG are some of the key players operating in the pest control market
Based on product type, the baits segment is expected to witness the fastest growth during the forecast period
Based on geography, North America held the largest share of the pest control market due to high consumer awareness of health and hygiene, advanced pest control technologies, and stringent regulatory standards that promote safe and effective pest management.
Technology integration are expected to be the key market trends.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Pest Control Market - By Type
1.3.2 Pest Control Market - By Pest Type
1.3.3 Pest Control Market - By Application
1.3.4 Pest Control Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. PEST CONTROL MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. PEST CONTROL 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. PEST CONTROL MARKET - GLOBAL MARKET ANALYSIS
6.1. PEST CONTROL - GLOBAL MARKET OVERVIEW
6.2. PEST CONTROL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PEST CONTROL MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. CHEMICAL
7.3.1. Overview
7.3.2. Chemical Market Forecast and Analysis
7.4. MECHANICAL
7.4.1. Overview
7.4.2. Mechanical Market Forecast and Analysis
7.5. BIOLOGICAL
7.5.1. Overview
7.5.2. Biological Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. PEST CONTROL MARKET - REVENUE AND FORECASTS TO 2028 - PEST TYPE
8.1. OVERVIEW
8.2. PEST TYPE MARKET FORECASTS AND ANALYSIS
8.3. INSECTS
8.3.1. Overview
8.3.2. Insects Market Forecast and Analysis
8.4. TERMITES
8.4.1. Overview
8.4.2. Termites Market Forecast and Analysis
8.5. RODENTS
8.5.1. Overview
8.5.2. Rodents Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. PEST CONTROL MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. COMMERCIAL
9.3.1. Overview
9.3.2. Commercial Market Forecast and Analysis
9.4. RESIDENTIAL
9.4.1. Overview
9.4.2. Residential Market Forecast and Analysis
9.5. AGRICULTURAL
9.5.1. Overview
9.5.2. Agricultural Market Forecast and Analysis
9.6. INDUSTRIAL
9.6.1. Overview
9.6.2. Industrial Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. PEST CONTROL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Pest Control Market Overview
10.1.2 North America Pest Control Market Forecasts and Analysis
10.1.3 North America Pest Control Market Forecasts and Analysis - By Type
10.1.4 North America Pest Control Market Forecasts and Analysis - By Pest Type
10.1.5 North America Pest Control Market Forecasts and Analysis - By Application
10.1.6 North America Pest Control Market Forecasts and Analysis - By Countries
10.1.6.1 United States Pest Control Market
10.1.6.1.1 United States Pest Control Market by Type
10.1.6.1.2 United States Pest Control Market by Pest Type
10.1.6.1.3 United States Pest Control Market by Application
10.1.6.2 Canada Pest Control Market
10.1.6.2.1 Canada Pest Control Market by Type
10.1.6.2.2 Canada Pest Control Market by Pest Type
10.1.6.2.3 Canada Pest Control Market by Application
10.1.6.3 Mexico Pest Control Market
10.1.6.3.1 Mexico Pest Control Market by Type
10.1.6.3.2 Mexico Pest Control Market by Pest Type
10.1.6.3.3 Mexico Pest Control Market by Application
10.2. EUROPE
10.2.1 Europe Pest Control Market Overview
10.2.2 Europe Pest Control Market Forecasts and Analysis
10.2.3 Europe Pest Control Market Forecasts and Analysis - By Type
10.2.4 Europe Pest Control Market Forecasts and Analysis - By Pest Type
10.2.5 Europe Pest Control Market Forecasts and Analysis - By Application
10.2.6 Europe Pest Control Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Pest Control Market
10.2.6.1.1 Germany Pest Control Market by Type
10.2.6.1.2 Germany Pest Control Market by Pest Type
10.2.6.1.3 Germany Pest Control Market by Application
10.2.6.2 France Pest Control Market
10.2.6.2.1 France Pest Control Market by Type
10.2.6.2.2 France Pest Control Market by Pest Type
10.2.6.2.3 France Pest Control Market by Application
10.2.6.3 Italy Pest Control Market
10.2.6.3.1 Italy Pest Control Market by Type
10.2.6.3.2 Italy Pest Control Market by Pest Type
10.2.6.3.3 Italy Pest Control Market by Application
10.2.6.4 United Kingdom Pest Control Market
10.2.6.4.1 United Kingdom Pest Control Market by Type
10.2.6.4.2 United Kingdom Pest Control Market by Pest Type
10.2.6.4.3 United Kingdom Pest Control Market by Application
10.2.6.5 Russia Pest Control Market
10.2.6.5.1 Russia Pest Control Market by Type
10.2.6.5.2 Russia Pest Control Market by Pest Type
10.2.6.5.3 Russia Pest Control Market by Application
10.2.6.6 Rest of Europe Pest Control Market
10.2.6.6.1 Rest of Europe Pest Control Market by Type
10.2.6.6.2 Rest of Europe Pest Control Market by Pest Type
10.2.6.6.3 Rest of Europe Pest Control Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Pest Control Market Overview
10.3.2 Asia-Pacific Pest Control Market Forecasts and Analysis
10.3.3 Asia-Pacific Pest Control Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Pest Control Market Forecasts and Analysis - By Pest Type
10.3.5 Asia-Pacific Pest Control Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Pest Control Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Pest Control Market
10.3.6.1.1 Australia Pest Control Market by Type
10.3.6.1.2 Australia Pest Control Market by Pest Type
10.3.6.1.3 Australia Pest Control Market by Application
10.3.6.2 China Pest Control Market
10.3.6.2.1 China Pest Control Market by Type
10.3.6.2.2 China Pest Control Market by Pest Type
10.3.6.2.3 China Pest Control Market by Application
10.3.6.3 India Pest Control Market
10.3.6.3.1 India Pest Control Market by Type
10.3.6.3.2 India Pest Control Market by Pest Type
10.3.6.3.3 India Pest Control Market by Application
10.3.6.4 Japan Pest Control Market
10.3.6.4.1 Japan Pest Control Market by Type
10.3.6.4.2 Japan Pest Control Market by Pest Type
10.3.6.4.3 Japan Pest Control Market by Application
10.3.6.5 South Korea Pest Control Market
10.3.6.5.1 South Korea Pest Control Market by Type
10.3.6.5.2 South Korea Pest Control Market by Pest Type
10.3.6.5.3 South Korea Pest Control Market by Application
10.3.6.6 Rest of Asia-Pacific Pest Control Market
10.3.6.6.1 Rest of Asia-Pacific Pest Control Market by Type
10.3.6.6.2 Rest of Asia-Pacific Pest Control Market by Pest Type
10.3.6.6.3 Rest of Asia-Pacific Pest Control Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Pest Control Market Overview
10.4.2 Middle East and Africa Pest Control Market Forecasts and Analysis
10.4.3 Middle East and Africa Pest Control Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Pest Control Market Forecasts and Analysis - By Pest Type
10.4.5 Middle East and Africa Pest Control Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Pest Control Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Pest Control Market
10.4.6.1.1 South Africa Pest Control Market by Type
10.4.6.1.2 South Africa Pest Control Market by Pest Type
10.4.6.1.3 South Africa Pest Control Market by Application
10.4.6.2 Saudi Arabia Pest Control Market
10.4.6.2.1 Saudi Arabia Pest Control Market by Type
10.4.6.2.2 Saudi Arabia Pest Control Market by Pest Type
10.4.6.2.3 Saudi Arabia Pest Control Market by Application
10.4.6.3 U.A.E Pest Control Market
10.4.6.3.1 U.A.E Pest Control Market by Type
10.4.6.3.2 U.A.E Pest Control Market by Pest Type
10.4.6.3.3 U.A.E Pest Control Market by Application
10.4.6.4 Rest of Middle East and Africa Pest Control Market
10.4.6.4.1 Rest of Middle East and Africa Pest Control Market by Type
10.4.6.4.2 Rest of Middle East and Africa Pest Control Market by Pest Type
10.4.6.4.3 Rest of Middle East and Africa Pest Control Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Pest Control Market Overview
10.5.2 South and Central America Pest Control Market Forecasts and Analysis
10.5.3 South and Central America Pest Control Market Forecasts and Analysis - By Type
10.5.4 South and Central America Pest Control Market Forecasts and Analysis - By Pest Type
10.5.5 South and Central America Pest Control Market Forecasts and Analysis - By Application
10.5.6 South and Central America Pest Control Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Pest Control Market
10.5.6.1.1 Brazil Pest Control Market by Type
10.5.6.1.2 Brazil Pest Control Market by Pest Type
10.5.6.1.3 Brazil Pest Control Market by Application
10.5.6.2 Argentina Pest Control Market
10.5.6.2.1 Argentina Pest Control Market by Type
10.5.6.2.2 Argentina Pest Control Market by Pest Type
10.5.6.2.3 Argentina Pest Control Market by Application
10.5.6.3 Rest of South and Central America Pest Control Market
10.5.6.3.1 Rest of South and Central America Pest Control Market by Type
10.5.6.3.2 Rest of South and Central America Pest Control Market by Pest Type
10.5.6.3.3 Rest of South and Central America Pest Control 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. PEST CONTROL MARKET, KEY COMPANY PROFILES
12.1. ARROW EXTERMINATORS BASF SE
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. BAYER AG
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. ECOLAB
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. ENSYSTEX
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. FMC 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. LINDSEY PEST SERVICES
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. ROLLINS, 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. SYNGENTA
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. THE TERMINIX INTERNATIONAL COMPANY LIMITED PARTNERSHIP
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
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Arrow Exterminators
2. BASF SE
3. Bayer AG
4. Ecolab
5. Ensystex
6. FMC Corporation
7. Lindsey Pest Services
8. Rollins, Inc.
9. Syngenta
10. The Terminix International Company Limited Partnership
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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