Rare Earth Elements Market Report - (Growth and Size by 2031)
The Rare Earth Elements Market is expected to register a CAGR of 10.9% from 2024 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 (lanthanum oxide, cerium oxide, neodymium oxide, europium oxide, terbium oxide, dysprosium oxide, and others). The report is segmented by application (catalysts, metallurgy, ceramics and glass, polishing, phosphors, and others). The report further presents an analysis based on the end use (electrical and electronics, wind energy, automotive [conventional vehicles and electric vehicles], and others). The report scope covers five regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America and key countries under each region. The global analysis is further broken down at the regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Rare Earth Elements 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.
Rare Earth Elements Market Segmentation
Type- Lanthanum Oxide
- Cerium Oxide
- Neodymium Oxide
- Europium Oxide
- Terbium Oxide
- Dysprosium Oxide
- Catalysts
- Metallurgy
- Ceramics and Glass
- Polishing
- Phosphors
- Electrical and Electronics
- Wind Energy
- Automotive
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Rare Earth Elements Market Growth Drivers- Focus on renewable energy: Demand for rare earth elements increases as the world moves towards renewable energy sources and away from carbon. Rare earths are essential in the manufacturing of wind turbines, electric vehicle batteries, and many other clean energy technologies. For example, take electric vehicles; it would quite significantly require rare earth, specifically neodymium, and dysprosium, that are used to produce super-strong permanent magnets that go into motors. Rare earths are crucial for producing photovoltaic panels and light bulbs. Thus, demand is likely to be higher in any green energy application.
- Strategic initiatives by key players: The rare earth elements' global supply chain is concentrated in just a few countries, led by China, which accounts for more than half of global supplies. Thus, geopolitical tensions between China and the United States have increased concern over the supply chain's vulnerability. As a result, countries like the U.S. and the European Union are now diversifying their strategies in sourcing rare earth, so the strategic importance of the elements has increased further. Domestic mining, processing capability, and recycling technologies are now being invested. Thus demand for critical materials increases further due to the smaller and much more efficient technological devices that require more rare earth elements for electronics.
- Growing consumption of smart electronic devices: High-performance electronics that include smartphones, laptops, and cameras consume tiny bits of rare earth to make components like speakers, microphones, and displays. Advances in medical imaging technology, such as MRI machines that contain the rare earth element gadolinium, are creating an ever-growing demand for rare earths. New uses in quantum computing, super-speed communication, and state-of-the-art sensors fuel the demand for REEs.
- Exploration of new mines: One big trend observed here is the diversification of the supply of rare earth outside the domain of China. Countries like the United States, Japan, and the European nations are searching hard to extricate themselves from dependence upon Chinese exports. Most efforts are geared toward the creation of mining projects of rare earths in Australia, Canada, and Greenland, apart from intensifying recycling work to extract rare earths in used electronics. That helps reduce the risks associated with geopolitical instability and builds a stronger supply chain.
- Recycling of rare earth elements: The recycling of rare earth elements is a developing trend as an emergent direction that responds to the interest in overcoming supply chain constraints and reducing the footprint of mining on the environment. The companies invest in technologies recovering rare earths from discarded electronics, magnets, and wind turbines. The approach of circular economy gains ground because it facilitates the reduction of dependence on primary mining, economic value generation through waste materials, and furtherance of sustainability goals.
- Government focus on rare earth elements: Governments around the world are waking up to the strategic importance of rare earth elements and are becoming more aggressive in securing their supplies. U.S. and European countries set up strategic stockpiles of rare earths as a hedge to national security and economy. Policies are formulated, including subsidies and incentives on the projects involved in mining and processing rare earth. Innovation in the mineability and the management of the resources receives more interest.
- Growing market of EVs: Continued growth in the electric vehicle market presents a growth opportunity for the rare earth elements industry. As the world moves away from internal combustion engines toward EVs, there will be a huge increase in demand for rare earths, especially neodymium and praseodymium because of their application in electric motor magnets. This applies to other manufacturers of batteries, and to suppliers of components and the makers of original equipment that will produce EVs. There is a rapidly escalating demand for EVs and people are looking for reliable sources for rare earths.
- Increasing deployment of renewable energy: Apart from electric vehicles, the growing use of renewable energy systems, such as wind and solar power, offers a huge opportunity for rare earth elements. For example, neodymium and dysprosium exist in the magnet component of wind turbines, and rare earths are used in technologies to convert energy efficiently from solar power generation systems. The demand for these critical materials will increase as countries invest in and expand clean energy infrastructures, opening up substantial market opportunities for producers.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Rare Earth Elements 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 Rare Earth Elements 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
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
On the basis of geography, the rare earth elements market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
Alkane Resources Ltd, Arafura Rare Earths Ltd, Avalon Advanced Materials Inc, Canada Rare Earth Corp, Greenland Minerals Ltd, ILUKA RESOURCES LTD, IREL (India) Ltd, Lynas Rare Earths Ltd, Rare Element Resources Ltd, and Shin-Etsu Chemical Co Ltd
The major factors driving the rare earth elements market are:
1. Rising Demand for Clean Energy Technologies.
2. Geopolitical Tensions and Supply Chain Security.
The Rare Earth Elements Market is estimated to witness a CAGR of 10.9% from 2023 to 2031
Supply chain diversification is expected to be the key market trend.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Rare Earth Elements Market - By Product
1.3.2 Rare Earth Elements Market - By Application
1.3.3 Rare Earth Elements Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. RARE EARTH ELEMENTS 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. RARE EARTH ELEMENTS 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. RARE EARTH ELEMENTS MARKET - GLOBAL MARKET ANALYSIS
6.1. RARE EARTH ELEMENTS - GLOBAL MARKET OVERVIEW
6.2. RARE EARTH ELEMENTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. RARE EARTH ELEMENTS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. CERIUM
7.3.1. Overview
7.3.2. Cerium Market Forecast and Analysis
7.4. DYSPROSIUM
7.4.1. Overview
7.4.2. Dysprosium Market Forecast and Analysis
7.5. ERBIUM
7.5.1. Overview
7.5.2. Erbium Market Forecast and Analysis
7.6. SCANDIUM
7.6.1. Overview
7.6.2. Scandium Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. RARE EARTH ELEMENTS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. POLISHING
8.3.1. Overview
8.3.2. Polishing Market Forecast and Analysis
8.4. PHOSPHORS
8.4.1. Overview
8.4.2. Phosphors Market Forecast and Analysis
8.5. CERAMICS
8.5.1. Overview
8.5.2. Ceramics Market Forecast and Analysis
8.6. METALLURGY. OTHERS
8.6.1. Overview
8.6.2. Metallurgy. Others Market Forecast and Analysis
9. RARE EARTH ELEMENTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Rare Earth Elements Market Overview
9.1.2 North America Rare Earth Elements Market Forecasts and Analysis
9.1.3 North America Rare Earth Elements Market Forecasts and Analysis - By Product
9.1.4 North America Rare Earth Elements Market Forecasts and Analysis - By Application
9.1.5 North America Rare Earth Elements Market Forecasts and Analysis - By Countries
9.1.5.1 United States Rare Earth Elements Market
9.1.5.1.1 United States Rare Earth Elements Market by Product
9.1.5.1.2 United States Rare Earth Elements Market by Application
9.1.5.2 Canada Rare Earth Elements Market
9.1.5.2.1 Canada Rare Earth Elements Market by Product
9.1.5.2.2 Canada Rare Earth Elements Market by Application
9.1.5.3 Mexico Rare Earth Elements Market
9.1.5.3.1 Mexico Rare Earth Elements Market by Product
9.1.5.3.2 Mexico Rare Earth Elements Market by Application
9.2. EUROPE
9.2.1 Europe Rare Earth Elements Market Overview
9.2.2 Europe Rare Earth Elements Market Forecasts and Analysis
9.2.3 Europe Rare Earth Elements Market Forecasts and Analysis - By Product
9.2.4 Europe Rare Earth Elements Market Forecasts and Analysis - By Application
9.2.5 Europe Rare Earth Elements Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Rare Earth Elements Market
9.2.5.1.1 Germany Rare Earth Elements Market by Product
9.2.5.1.2 Germany Rare Earth Elements Market by Application
9.2.5.2 France Rare Earth Elements Market
9.2.5.2.1 France Rare Earth Elements Market by Product
9.2.5.2.2 France Rare Earth Elements Market by Application
9.2.5.3 Italy Rare Earth Elements Market
9.2.5.3.1 Italy Rare Earth Elements Market by Product
9.2.5.3.2 Italy Rare Earth Elements Market by Application
9.2.5.4 United Kingdom Rare Earth Elements Market
9.2.5.4.1 United Kingdom Rare Earth Elements Market by Product
9.2.5.4.2 United Kingdom Rare Earth Elements Market by Application
9.2.5.5 Russia Rare Earth Elements Market
9.2.5.5.1 Russia Rare Earth Elements Market by Product
9.2.5.5.2 Russia Rare Earth Elements Market by Application
9.2.5.6 Rest of Europe Rare Earth Elements Market
9.2.5.6.1 Rest of Europe Rare Earth Elements Market by Product
9.2.5.6.2 Rest of Europe Rare Earth Elements Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Rare Earth Elements Market Overview
9.3.2 Asia-Pacific Rare Earth Elements Market Forecasts and Analysis
9.3.3 Asia-Pacific Rare Earth Elements Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Rare Earth Elements Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Rare Earth Elements Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Rare Earth Elements Market
9.3.5.1.1 Australia Rare Earth Elements Market by Product
9.3.5.1.2 Australia Rare Earth Elements Market by Application
9.3.5.2 China Rare Earth Elements Market
9.3.5.2.1 China Rare Earth Elements Market by Product
9.3.5.2.2 China Rare Earth Elements Market by Application
9.3.5.3 India Rare Earth Elements Market
9.3.5.3.1 India Rare Earth Elements Market by Product
9.3.5.3.2 India Rare Earth Elements Market by Application
9.3.5.4 Japan Rare Earth Elements Market
9.3.5.4.1 Japan Rare Earth Elements Market by Product
9.3.5.4.2 Japan Rare Earth Elements Market by Application
9.3.5.5 South Korea Rare Earth Elements Market
9.3.5.5.1 South Korea Rare Earth Elements Market by Product
9.3.5.5.2 South Korea Rare Earth Elements Market by Application
9.3.5.6 Rest of Asia-Pacific Rare Earth Elements Market
9.3.5.6.1 Rest of Asia-Pacific Rare Earth Elements Market by Product
9.3.5.6.2 Rest of Asia-Pacific Rare Earth Elements Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Rare Earth Elements Market Overview
9.4.2 Middle East and Africa Rare Earth Elements Market Forecasts and Analysis
9.4.3 Middle East and Africa Rare Earth Elements Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Rare Earth Elements Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Rare Earth Elements Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Rare Earth Elements Market
9.4.5.1.1 South Africa Rare Earth Elements Market by Product
9.4.5.1.2 South Africa Rare Earth Elements Market by Application
9.4.5.2 Saudi Arabia Rare Earth Elements Market
9.4.5.2.1 Saudi Arabia Rare Earth Elements Market by Product
9.4.5.2.2 Saudi Arabia Rare Earth Elements Market by Application
9.4.5.3 U.A.E Rare Earth Elements Market
9.4.5.3.1 U.A.E Rare Earth Elements Market by Product
9.4.5.3.2 U.A.E Rare Earth Elements Market by Application
9.4.5.4 Rest of Middle East and Africa Rare Earth Elements Market
9.4.5.4.1 Rest of Middle East and Africa Rare Earth Elements Market by Product
9.4.5.4.2 Rest of Middle East and Africa Rare Earth Elements Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Rare Earth Elements Market Overview
9.5.2 South and Central America Rare Earth Elements Market Forecasts and Analysis
9.5.3 South and Central America Rare Earth Elements Market Forecasts and Analysis - By Product
9.5.4 South and Central America Rare Earth Elements Market Forecasts and Analysis - By Application
9.5.5 South and Central America Rare Earth Elements Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Rare Earth Elements Market
9.5.5.1.1 Brazil Rare Earth Elements Market by Product
9.5.5.1.2 Brazil Rare Earth Elements Market by Application
9.5.5.2 Argentina Rare Earth Elements Market
9.5.5.2.1 Argentina Rare Earth Elements Market by Product
9.5.5.2.2 Argentina Rare Earth Elements Market by Application
9.5.5.3 Rest of South and Central America Rare Earth Elements Market
9.5.5.3.1 Rest of South and Central America Rare Earth Elements Market by Product
9.5.5.3.2 Rest of South and Central America Rare Earth Elements Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. RARE EARTH ELEMENTS MARKET, KEY COMPANY PROFILES
11.1. ALKANE RESOURCES LTD.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ARAFURA RESOURCES LIMITED
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. AVALON RARE METALS INC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. CHINA RARE EARTH HOLDINGS LIMITED
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. GREAT WESTERN MINERALS GROUP LTD.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. GREENL AND MINERALS LTD.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. LYNAS CORPORATION LTD.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. MOLYCORP INC.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. QUEST RARE MINERALS LTD.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. RARE ELEMENT RESOURCES LTD.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Alkane Resources Ltd.
2. Arafura Resources Limited
3. Avalon Rare Metals Inc.
4. China Rare Earth Holdings Limited
5. Great Western Minerals Group Ltd.
6. Greenl and Minerals Ltd.
7. Lynas Corporation Ltd.
8. Molycorp Inc.
9. Quest Rare Minerals Ltd.
10. Rare Element Resources 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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