Power Tools Market Strategies and Share 2031
Power tools are a class of tools and mechanical devices that operate when a secondary power source and mechanism are activated rather than being operated manually. Electric motors and compressed or internal combustion engines are examples of this. From hand-held machine drills to hydraulic presses and pneumatic equipment, power tools cover a wide range of applications. Power tools can be used for a variety of tasks, including home chores, construction, and gardening. The key drivers of the power tool markets include increasing demand from the industrial sector, increasing demand from the professional segment, and increasing use of power tools for DIY and domestic activities. Power tools also have applications across various verticals.
MARKET SCOPE
The "Global Power Tools Market Analysis to 2031" is a specialized and in-depth study of the Power tools Market with a special focus on the global market trend analysis. The report aims to provide an overview of power tools market with detailed market segmentation by mode, type and end-user. The global power tools market expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading power tools market player and offers key trends and opportunities in the power tools market.
MARKET SEGMENTATION
- Based on mode the market is segmented as, electric, pneumatic and others.
- Based on type the market is segmented as, drilling and fastening, sawing, demolition and material removal.
- Based on end-user the market is segmented as, residential, commercial and industrial.
MARKET DYNAMICS
Drivers:
- The key driving factors for power tools market are, rise in disposable incomes, technological advancements in tooling, increase in popularity of DIY techniques.
- Growth in popularity of cordless and wireless power tools is expected to fuel market growth during the forecast period.
- Growth in construction industry across the globe along with growing application of power tools across verticals is also expected to spur market growth during the forecast period.
Restraints:
- High cost of power tools, and their maintenance cost is expected to restrain market growth during the forecast period.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global power tools market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The power tools market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting power tools Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the power tools market in these regions.
IMPACT OF COVID-19 ON POWER TOOLS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
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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
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global power tools market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The power tools market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting power tools Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the power tools market in these regions.
IMPACT OF COVID-19 ON POWER TOOLS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The reports cover key developments in the power tools market 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 expansion of business and customer base of market players. The market players from power tools market are anticipated to lucrative growth opportunities in the future with the rising demand for power tools market. Below mentioned is the list of few companies engaged in the power tools market.
The report also includes the profiles of key power tools market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- AIMCO
- Atlas Copco
- Hilti Corporation
- KYOCERA Industrial Tools Corporation
- Makita U.S.A., Inc
- Panasonic Life Solutions India Pvt. Ltd
- Robert Bosch Tool Corporation
- Snap - on Incorporated
- Stanley Black and Decker, Inc.
- Techtronic Industries Co. Ltd
- 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
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Power Tools Market - By Mode
1.3.2 Power Tools Market - By Type
1.3.3 Power Tools Market - By End-user
1.3.4 Power Tools Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. POWER TOOLS 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. POWER TOOLS 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. POWER TOOLS MARKET - GLOBAL MARKET ANALYSIS
6.1. POWER TOOLS - GLOBAL MARKET OVERVIEW
6.2. POWER TOOLS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. POWER TOOLS MARKET - REVENUE AND FORECASTS TO 2028 - MODE
7.1. OVERVIEW
7.2. MODE MARKET FORECASTS AND ANALYSIS
7.3. ELECTRIC
7.3.1. Overview
7.3.2. Electric Market Forecast and Analysis
7.4. PNEUMATIC
7.4.1. Overview
7.4.2. Pneumatic Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. POWER TOOLS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
8.1. OVERVIEW
8.2. TYPE MARKET FORECASTS AND ANALYSIS
8.3. DRILLING AND FASTENING
8.3.1. Overview
8.3.2. Drilling and Fastening Market Forecast and Analysis
8.4. SAWING
8.4.1. Overview
8.4.2. Sawing Market Forecast and Analysis
8.5. DEMOLITION
8.5.1. Overview
8.5.2. Demolition Market Forecast and Analysis
8.6. MATERIAL REMOVAL
8.6.1. Overview
8.6.2. Material Removal Market Forecast and Analysis
9. POWER TOOLS MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
9.1. OVERVIEW
9.2. END-USER MARKET FORECASTS AND ANALYSIS
9.3. RESIDENTIAL
9.3.1. Overview
9.3.2. Residential Market Forecast and Analysis
9.4. COMMERCIAL
9.4.1. Overview
9.4.2. Commercial Market Forecast and Analysis
9.5. INDUSTRIAL
9.5.1. Overview
9.5.2. Industrial Market Forecast and Analysis
10. POWER TOOLS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Power Tools Market Overview
10.1.2 North America Power Tools Market Forecasts and Analysis
10.1.3 North America Power Tools Market Forecasts and Analysis - By Mode
10.1.4 North America Power Tools Market Forecasts and Analysis - By Type
10.1.5 North America Power Tools Market Forecasts and Analysis - By End-user
10.1.6 North America Power Tools Market Forecasts and Analysis - By Countries
10.1.6.1 United States Power Tools Market
10.1.6.1.1 United States Power Tools Market by Mode
10.1.6.1.2 United States Power Tools Market by Type
10.1.6.1.3 United States Power Tools Market by End-user
10.1.6.2 Canada Power Tools Market
10.1.6.2.1 Canada Power Tools Market by Mode
10.1.6.2.2 Canada Power Tools Market by Type
10.1.6.2.3 Canada Power Tools Market by End-user
10.1.6.3 Mexico Power Tools Market
10.1.6.3.1 Mexico Power Tools Market by Mode
10.1.6.3.2 Mexico Power Tools Market by Type
10.1.6.3.3 Mexico Power Tools Market by End-user
10.2. EUROPE
10.2.1 Europe Power Tools Market Overview
10.2.2 Europe Power Tools Market Forecasts and Analysis
10.2.3 Europe Power Tools Market Forecasts and Analysis - By Mode
10.2.4 Europe Power Tools Market Forecasts and Analysis - By Type
10.2.5 Europe Power Tools Market Forecasts and Analysis - By End-user
10.2.6 Europe Power Tools Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Power Tools Market
10.2.6.1.1 Germany Power Tools Market by Mode
10.2.6.1.2 Germany Power Tools Market by Type
10.2.6.1.3 Germany Power Tools Market by End-user
10.2.6.2 France Power Tools Market
10.2.6.2.1 France Power Tools Market by Mode
10.2.6.2.2 France Power Tools Market by Type
10.2.6.2.3 France Power Tools Market by End-user
10.2.6.3 Italy Power Tools Market
10.2.6.3.1 Italy Power Tools Market by Mode
10.2.6.3.2 Italy Power Tools Market by Type
10.2.6.3.3 Italy Power Tools Market by End-user
10.2.6.4 United Kingdom Power Tools Market
10.2.6.4.1 United Kingdom Power Tools Market by Mode
10.2.6.4.2 United Kingdom Power Tools Market by Type
10.2.6.4.3 United Kingdom Power Tools Market by End-user
10.2.6.5 Russia Power Tools Market
10.2.6.5.1 Russia Power Tools Market by Mode
10.2.6.5.2 Russia Power Tools Market by Type
10.2.6.5.3 Russia Power Tools Market by End-user
10.2.6.6 Rest of Europe Power Tools Market
10.2.6.6.1 Rest of Europe Power Tools Market by Mode
10.2.6.6.2 Rest of Europe Power Tools Market by Type
10.2.6.6.3 Rest of Europe Power Tools Market by End-user
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Power Tools Market Overview
10.3.2 Asia-Pacific Power Tools Market Forecasts and Analysis
10.3.3 Asia-Pacific Power Tools Market Forecasts and Analysis - By Mode
10.3.4 Asia-Pacific Power Tools Market Forecasts and Analysis - By Type
10.3.5 Asia-Pacific Power Tools Market Forecasts and Analysis - By End-user
10.3.6 Asia-Pacific Power Tools Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Power Tools Market
10.3.6.1.1 Australia Power Tools Market by Mode
10.3.6.1.2 Australia Power Tools Market by Type
10.3.6.1.3 Australia Power Tools Market by End-user
10.3.6.2 China Power Tools Market
10.3.6.2.1 China Power Tools Market by Mode
10.3.6.2.2 China Power Tools Market by Type
10.3.6.2.3 China Power Tools Market by End-user
10.3.6.3 India Power Tools Market
10.3.6.3.1 India Power Tools Market by Mode
10.3.6.3.2 India Power Tools Market by Type
10.3.6.3.3 India Power Tools Market by End-user
10.3.6.4 Japan Power Tools Market
10.3.6.4.1 Japan Power Tools Market by Mode
10.3.6.4.2 Japan Power Tools Market by Type
10.3.6.4.3 Japan Power Tools Market by End-user
10.3.6.5 South Korea Power Tools Market
10.3.6.5.1 South Korea Power Tools Market by Mode
10.3.6.5.2 South Korea Power Tools Market by Type
10.3.6.5.3 South Korea Power Tools Market by End-user
10.3.6.6 Rest of Asia-Pacific Power Tools Market
10.3.6.6.1 Rest of Asia-Pacific Power Tools Market by Mode
10.3.6.6.2 Rest of Asia-Pacific Power Tools Market by Type
10.3.6.6.3 Rest of Asia-Pacific Power Tools Market by End-user
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Power Tools Market Overview
10.4.2 Middle East and Africa Power Tools Market Forecasts and Analysis
10.4.3 Middle East and Africa Power Tools Market Forecasts and Analysis - By Mode
10.4.4 Middle East and Africa Power Tools Market Forecasts and Analysis - By Type
10.4.5 Middle East and Africa Power Tools Market Forecasts and Analysis - By End-user
10.4.6 Middle East and Africa Power Tools Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Power Tools Market
10.4.6.1.1 South Africa Power Tools Market by Mode
10.4.6.1.2 South Africa Power Tools Market by Type
10.4.6.1.3 South Africa Power Tools Market by End-user
10.4.6.2 Saudi Arabia Power Tools Market
10.4.6.2.1 Saudi Arabia Power Tools Market by Mode
10.4.6.2.2 Saudi Arabia Power Tools Market by Type
10.4.6.2.3 Saudi Arabia Power Tools Market by End-user
10.4.6.3 U.A.E Power Tools Market
10.4.6.3.1 U.A.E Power Tools Market by Mode
10.4.6.3.2 U.A.E Power Tools Market by Type
10.4.6.3.3 U.A.E Power Tools Market by End-user
10.4.6.4 Rest of Middle East and Africa Power Tools Market
10.4.6.4.1 Rest of Middle East and Africa Power Tools Market by Mode
10.4.6.4.2 Rest of Middle East and Africa Power Tools Market by Type
10.4.6.4.3 Rest of Middle East and Africa Power Tools Market by End-user
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Power Tools Market Overview
10.5.2 South and Central America Power Tools Market Forecasts and Analysis
10.5.3 South and Central America Power Tools Market Forecasts and Analysis - By Mode
10.5.4 South and Central America Power Tools Market Forecasts and Analysis - By Type
10.5.5 South and Central America Power Tools Market Forecasts and Analysis - By End-user
10.5.6 South and Central America Power Tools Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Power Tools Market
10.5.6.1.1 Brazil Power Tools Market by Mode
10.5.6.1.2 Brazil Power Tools Market by Type
10.5.6.1.3 Brazil Power Tools Market by End-user
10.5.6.2 Argentina Power Tools Market
10.5.6.2.1 Argentina Power Tools Market by Mode
10.5.6.2.2 Argentina Power Tools Market by Type
10.5.6.2.3 Argentina Power Tools Market by End-user
10.5.6.3 Rest of South and Central America Power Tools Market
10.5.6.3.1 Rest of South and Central America Power Tools Market by Mode
10.5.6.3.2 Rest of South and Central America Power Tools Market by Type
10.5.6.3.3 Rest of South and Central America Power Tools Market by End-user
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. POWER TOOLS MARKET, KEY COMPANY PROFILES
12.1. AIMCO
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. ATLAS COPCO
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. HILTI CORPORATION
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. KYOCERA INDUSTRIAL TOOLS CORPORATION
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. MAKITA U.S.A., INC
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. PANASONIC LIFE SOLUTIONS INDIA PVT. LTD
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. ROBERT BOSCH TOOL CORPORATION
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. SNAP - ON INCORPORATED
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. STANLEY BLACK AND DECKER, INC.
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. TECHTRONIC INDUSTRIES CO. 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. AIMCO
2. Atlas Copco
3. Hilti Corporation
4. KYOCERA Industrial Tools Corporation
5. Makita U.S.A., Inc
6. Panasonic Life Solutions India Pvt. Ltd
7. Robert Bosch Tool Corporation
8. Snap - on Incorporated
9. Stanley Black and Decker, Inc.
10. Techtronic Industries Co. 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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