Remote Towers Market Scope and Size by 2031
Remote towers solutions provide an advanced system to air traffic control by digitizing and incorporating airport functions. It allows air base Air Traffic Control (ATC) or Flight Information Service (FIS) from a remote position to facilitate streaming in real time of the view and to maintain a level of operational safety. The remote towers market is anticipated to grow as there is a high demand for remote towers due to increasing air traffic at tier 1 airports.
MARKET SCOPE
The "Global Remote Towers Market Analysis to 2031" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the remote towers market with detailed market segmentation by type, category, distribution channel, and geography. The report provides key statistics on the market status of the leading remote towers market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on operation type, the global remote towers market is segmented into single, multiple and contingency.
- On the basis of system type, the market is segmented into airport equipment, remote towers module and network solutions.
- Based on application, the market is bifurcated into communication, information and control, flight data handling, surveillance, and visualization.
MARKET DYNAMICS
Drivers:
- Rapid increase in the number of airports due to the high demand for air transit
- increased need for efficiency and safety in air traffic control
- Remote towers is also a potential alternative to the construction of a new control towers when an airport expands and helps in cost savings.
- Modernization, digitalization, and overall growth of Air Traffic Management industry
Restraints
- Limited network infrastructure and the capacity issue of big airports due to fire technical failure or a security issue
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The remote towers market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring 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 affecting the remote towers market in these regions.
IMPACT OF COVID-19 ON REMOTE TOWER MARKET
The COVID-19 pandemic has forced governments and aviation related businesses to take several stringent measures to contain the spread of the virus. Airports and air traffic around the world had come to a virtual halt in the second quarter of 2021 which led to decline in airport traffic and revenue losses in the aviation industry across all regions. Although, several countries have now started to gradually reopen many parts of the economy, many countries in different region are again exposed to subsequent waves of infections and governments of these countries have opted for the re-imposition of partial or complete lockdowns. Since the health, safety and wellbeing of passengers and staff is aviation industry’s topmost priority, airports and airlines have partnered with governments to prepare the restart of global connectivity as and when the epidemiological situation allows. It is expected that if the global vaccination efforts are successful, the number of passengers traveling by air and outside of their countries is likely to increase by the second half of 2021.
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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 an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The remote towers market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring 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 affecting the remote towers market in these regions.
IMPACT OF COVID-19 ON REMOTE TOWER MARKET
The COVID-19 pandemic has forced governments and aviation related businesses to take several stringent measures to contain the spread of the virus. Airports and air traffic around the world had come to a virtual halt in the second quarter of 2021 which led to decline in airport traffic and revenue losses in the aviation industry across all regions. Although, several countries have now started to gradually reopen many parts of the economy, many countries in different region are again exposed to subsequent waves of infections and governments of these countries have opted for the re-imposition of partial or complete lockdowns. Since the health, safety and wellbeing of passengers and staff is aviation industry’s topmost priority, airports and airlines have partnered with governments to prepare the restart of global connectivity as and when the epidemiological situation allows. It is expected that if the global vaccination efforts are successful, the number of passengers traveling by air and outside of their countries is likely to increase by the second half of 2021.
MARKET PLAYERS
The report covers key developments in the remote towers market as 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 the expansion of business and customer base of market players. The market payers from remote towers market are anticipated to lucrative growth opportunities in the future with the rising demand for remote towers in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the remote towers market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Frequentis Group
- L3Harris Corporation
- Indra Navia AS
- Leonardo S. P. A
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Raytheon Technologies
- Saab AB
- Searidge Technologies
- Thales Group
The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- 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 Remote Towers Market - By Operation Type
1.3.2 Remote Towers Market - By System Type
1.3.3 Remote Towers Market - By Application
1.3.4 Remote Towers Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. REMOTE TOWERS 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. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. REMOTE TOWERS 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. REMOTE TOWERS MARKET - GLOBAL MARKET ANALYSIS
6.1. REMOTE TOWERS - GLOBAL MARKET OVERVIEW
6.2. REMOTE TOWERS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. REMOTE TOWERS MARKET - REVENUE AND FORECASTS TO 2028 - OPERATION TYPE
7.1. OVERVIEW
7.2. OPERATION TYPE MARKET FORECASTS AND ANALYSIS
7.3. SINGLE
7.3.1. Overview
7.3.2. Single Market Forecast and Analysis
7.4. MULTIPLE
7.4.1. Overview
7.4.2. Multiple Market Forecast and Analysis
7.5. CONTINGENCY
7.5.1. Overview
7.5.2. Contingency Market Forecast and Analysis
8. REMOTE TOWERS MARKET - REVENUE AND FORECASTS TO 2028 - SYSTEM TYPE
8.1. OVERVIEW
8.2. SYSTEM TYPE MARKET FORECASTS AND ANALYSIS
8.3. AIRPORT EQUIPMENT
8.3.1. Overview
8.3.2. Airport Equipment Market Forecast and Analysis
8.4. REMOTE TOWERS MODULE
8.4.1. Overview
8.4.2. Remote Towers Module Market Forecast and Analysis
8.5. NETWORK SOLUTIONS
8.5.1. Overview
8.5.2. Network Solutions Market Forecast and Analysis
9. REMOTE TOWERS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. COMMUNICATION
9.3.1. Overview
9.3.2. Communication Market Forecast and Analysis
9.4. INFORMATION AND CONTROL
9.4.1. Overview
9.4.2. Information and Control Market Forecast and Analysis
9.5. FLIGHT DATA HANDLING
9.5.1. Overview
9.5.2. Flight Data Handling Market Forecast and Analysis
9.6. SURVEILLANCE
9.6.1. Overview
9.6.2. Surveillance Market Forecast and Analysis
9.7. VISUALIZATION
9.7.1. Overview
9.7.2. Visualization Market Forecast and Analysis
10. REMOTE TOWERS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Remote Towers Market Overview
10.1.2 North America Remote Towers Market Forecasts and Analysis
10.1.3 North America Remote Towers Market Forecasts and Analysis - By Operation Type
10.1.4 North America Remote Towers Market Forecasts and Analysis - By System Type
10.1.5 North America Remote Towers Market Forecasts and Analysis - By Application
10.1.6 North America Remote Towers Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Remote Towers Market
10.1.6.1.1 Canada Remote Towers Market by Operation Type
10.1.6.1.2 Canada Remote Towers Market by System Type
10.1.6.1.3 Canada Remote Towers Market by Application
10.1.6.2 Mexico Remote Towers Market
10.1.6.2.1 Mexico Remote Towers Market by Operation Type
10.1.6.2.2 Mexico Remote Towers Market by System Type
10.1.6.2.3 Mexico Remote Towers Market by Application
10.1.6.3 US Remote Towers Market
10.1.6.3.1 US Remote Towers Market by Operation Type
10.1.6.3.2 US Remote Towers Market by System Type
10.1.6.3.3 US Remote Towers Market by Application
10.2. EUROPE
10.2.1 Europe Remote Towers Market Overview
10.2.2 Europe Remote Towers Market Forecasts and Analysis
10.2.3 Europe Remote Towers Market Forecasts and Analysis - By Operation Type
10.2.4 Europe Remote Towers Market Forecasts and Analysis - By System Type
10.2.5 Europe Remote Towers Market Forecasts and Analysis - By Application
10.2.6 Europe Remote Towers Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Remote Towers Market
10.2.6.1.1 Germany Remote Towers Market by Operation Type
10.2.6.1.2 Germany Remote Towers Market by System Type
10.2.6.1.3 Germany Remote Towers Market by Application
10.2.6.2 France Remote Towers Market
10.2.6.2.1 France Remote Towers Market by Operation Type
10.2.6.2.2 France Remote Towers Market by System Type
10.2.6.2.3 France Remote Towers Market by Application
10.2.6.3 Italy Remote Towers Market
10.2.6.3.1 Italy Remote Towers Market by Operation Type
10.2.6.3.2 Italy Remote Towers Market by System Type
10.2.6.3.3 Italy Remote Towers Market by Application
10.2.6.4 United Kingdom Remote Towers Market
10.2.6.4.1 United Kingdom Remote Towers Market by Operation Type
10.2.6.4.2 United Kingdom Remote Towers Market by System Type
10.2.6.4.3 United Kingdom Remote Towers Market by Application
10.2.6.5 Russia Remote Towers Market
10.2.6.5.1 Russia Remote Towers Market by Operation Type
10.2.6.5.2 Russia Remote Towers Market by System Type
10.2.6.5.3 Russia Remote Towers Market by Application
10.2.6.6 Rest of Europe Remote Towers Market
10.2.6.6.1 Rest of Europe Remote Towers Market by Operation Type
10.2.6.6.2 Rest of Europe Remote Towers Market by System Type
10.2.6.6.3 Rest of Europe Remote Towers Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Remote Towers Market Overview
10.3.2 Asia-Pacific Remote Towers Market Forecasts and Analysis
10.3.3 Asia-Pacific Remote Towers Market Forecasts and Analysis - By Operation Type
10.3.4 Asia-Pacific Remote Towers Market Forecasts and Analysis - By System Type
10.3.5 Asia-Pacific Remote Towers Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Remote Towers Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Remote Towers Market
10.3.6.1.1 Australia Remote Towers Market by Operation Type
10.3.6.1.2 Australia Remote Towers Market by System Type
10.3.6.1.3 Australia Remote Towers Market by Application
10.3.6.2 China Remote Towers Market
10.3.6.2.1 China Remote Towers Market by Operation Type
10.3.6.2.2 China Remote Towers Market by System Type
10.3.6.2.3 China Remote Towers Market by Application
10.3.6.3 India Remote Towers Market
10.3.6.3.1 India Remote Towers Market by Operation Type
10.3.6.3.2 India Remote Towers Market by System Type
10.3.6.3.3 India Remote Towers Market by Application
10.3.6.4 Japan Remote Towers Market
10.3.6.4.1 Japan Remote Towers Market by Operation Type
10.3.6.4.2 Japan Remote Towers Market by System Type
10.3.6.4.3 Japan Remote Towers Market by Application
10.3.6.5 South Korea Remote Towers Market
10.3.6.5.1 South Korea Remote Towers Market by Operation Type
10.3.6.5.2 South Korea Remote Towers Market by System Type
10.3.6.5.3 South Korea Remote Towers Market by Application
10.3.6.6 Rest of Asia-Pacific Remote Towers Market
10.3.6.6.1 Rest of Asia-Pacific Remote Towers Market by Operation Type
10.3.6.6.2 Rest of Asia-Pacific Remote Towers Market by System Type
10.3.6.6.3 Rest of Asia-Pacific Remote Towers Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Remote Towers Market Overview
10.4.2 Middle East and Africa Remote Towers Market Forecasts and Analysis
10.4.3 Middle East and Africa Remote Towers Market Forecasts and Analysis - By Operation Type
10.4.4 Middle East and Africa Remote Towers Market Forecasts and Analysis - By System Type
10.4.5 Middle East and Africa Remote Towers Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Remote Towers Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Remote Towers Market
10.4.6.1.1 South Africa Remote Towers Market by Operation Type
10.4.6.1.2 South Africa Remote Towers Market by System Type
10.4.6.1.3 South Africa Remote Towers Market by Application
10.4.6.2 Saudi Arabia Remote Towers Market
10.4.6.2.1 Saudi Arabia Remote Towers Market by Operation Type
10.4.6.2.2 Saudi Arabia Remote Towers Market by System Type
10.4.6.2.3 Saudi Arabia Remote Towers Market by Application
10.4.6.3 U.A.E Remote Towers Market
10.4.6.3.1 U.A.E Remote Towers Market by Operation Type
10.4.6.3.2 U.A.E Remote Towers Market by System Type
10.4.6.3.3 U.A.E Remote Towers Market by Application
10.4.6.4 Rest of Middle East and Africa Remote Towers Market
10.4.6.4.1 Rest of Middle East and Africa Remote Towers Market by Operation Type
10.4.6.4.2 Rest of Middle East and Africa Remote Towers Market by System Type
10.4.6.4.3 Rest of Middle East and Africa Remote Towers Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Remote Towers Market Overview
10.5.2 South and Central America Remote Towers Market Forecasts and Analysis
10.5.3 South and Central America Remote Towers Market Forecasts and Analysis - By Operation Type
10.5.4 South and Central America Remote Towers Market Forecasts and Analysis - By System Type
10.5.5 South and Central America Remote Towers Market Forecasts and Analysis - By Application
10.5.6 South and Central America Remote Towers Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Remote Towers Market
10.5.6.1.1 Brazil Remote Towers Market by Operation Type
10.5.6.1.2 Brazil Remote Towers Market by System Type
10.5.6.1.3 Brazil Remote Towers Market by Application
10.5.6.2 Argentina Remote Towers Market
10.5.6.2.1 Argentina Remote Towers Market by Operation Type
10.5.6.2.2 Argentina Remote Towers Market by System Type
10.5.6.2.3 Argentina Remote Towers Market by Application
10.5.6.3 Rest of South and Central America Remote Towers Market
10.5.6.3.1 Rest of South and Central America Remote Towers Market by Operation Type
10.5.6.3.2 Rest of South and Central America Remote Towers Market by System Type
10.5.6.3.3 Rest of South and Central America Remote Towers 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. REMOTE TOWERS MARKET, KEY COMPANY PROFILES
12.1. FREQUENTIS GROUP
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. L3HARRIS 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. INDRA NAVIA AS
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. LEONARDO S.P.A
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. LOCKHEED MARTIN 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. NORTHROP GRUMMAN CORPORATION
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. RAYTHEON TECHNOLOGIES
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. SAAB AB
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. SEARIDGE TECHNOLOGIES
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. THALES GROUP
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. Frequentis Group
2. L3Harris Corporation
3. Indra Navia AS
4. Leonardo S.p.a
5. Lockheed Martin Corporation
6. Northrop Grumman Corporation
7. Raytheon Technologies
8. Saab AB
9. Searidge Technologies
10. Thales Group
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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