Remote Towers Market Share and Growth (2021-2031)
The Remote Towers Market is expected to register a CAGR of 19.8% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
Remote Towers Market covers analysis By Operation Type (Single, Multiple, Contingency); System Type (Airport Equipment, Remote Towers Module, Network Solutions); Application (Communication, Information and Control, Flight Data Handling, Surveillance, Visualization) , and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America)
Purpose of the ReportThe report Remote Towers 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.
Remote Towers Market Segmentation
Operation Type- Single
- Multiple
- Contingency;
- Airport Equipment
- Remote Towers Module
- Network Solutions;
- Communication
- Information and Control
- Flight Data Handling
- Surveillance
- Visualization
- 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
Remote Towers Market Growth Drivers- Growing Air Traffic and the Need for Enhanced Control: Growth in global air traffic is another key factor propelling growth of the remote towers market. With more people flying, they also manage more aircraft, often to the point where it becomes nearly impossible to manage surface or sky air traffic. Remote tower systems are capable of reducing this problem to an extent by allowing better traffic control and thus better organization. This is particularly relevant in developing airline markets where basic systems of managing air traffic could be overwhelmed with demand. In other words, given how critical air traffic management is for safety and ability to perform optimally, this makes remote towers a notable aviation system.
- Cost Efficiency and Resource Optimization: One of the key drivers for the remote towers market is the significant cost savings associated with remote tower systems. By reducing the need for on-site air traffic controllers and expensive infrastructure for each airport, airlines and air navigation service providers can lower operational costs. Remote towers allow for the consolidation of air traffic control services across multiple smaller airports, increasing resource efficiency and reducing redundancy in personnel and equipment. This cost-effective model is driving the adoption of remote towers, particularly in regions with smaller airports.
- Emphasis on Smart City Development: With most urban centers adopting smart city technologies, the development of remote tower systems as part of wider smart city projects creates an opportunity for urban air mobility solutions. This may be just a healthy bystander to such a development together with improving the urban traffic management systems and more so the design of the seamless sky. Most of the developing countries are looking inwards into their infrastructure base building them to enhance their compounded economic growth and strengthening.
- Integration with Unmanned Aircraft Systems (UAS) and Drone Traffic Management: As the use of drones and unmanned aerial vehicles (UAVs) continues to rise, integrating remote tower systems with unmanned aircraft traffic management (UTM) solutions will be increasingly important. Remote towers will need to evolve to accommodate the unique challenges posed by UAVs, such as lower altitudes, high volumes of small aircraft, and the need for automated traffic management. Future remote towers will be equipped with the capability to manage both traditional manned aircraft and UAVs, helping to create a more seamless airspace for all types of aircraft.
- Cross-Border and International Air Traffic Management: The ability to manage air traffic across multiple countries from a centralized location presents a major opportunity for remote towers. Remote tower technology enables the coordination of air traffic across borders, optimizing air traffic flow, reducing delays, and improving safety in crowded airspace. Countries or regions with high air traffic can collaborate on remote tower solutions, reducing costs and increasing efficiency while maintaining safety and compliance with international aviation standards.
- Growth of Airspace Safety and Security Systems: With growing concerns about airspace security, there is an increasing demand for advanced air traffic control systems that enhance safety and monitor aircraft activity in real-time. Remote tower solutions can be integrated with advanced security systems, such as radar and surveillance cameras, to detect and track unauthorized aircraft and other potential security threats. The opportunity to enhance airspace security while reducing operational costs presents a strong business case for remote tower solutions in the defense and security sectors.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Remote Towers 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 Remote Towers 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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- 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 Remote Towers market is estimated to witness a CAGR of 19.8% from 2023 to 2031
The major factors driving the marine navigation system market are: Rising investment in the smart city development projects across the globe drives the market growth.
High manufacturing cost of the remote towers hinders the market growth.
The market players includes Frequentis Group, L3Harris Corporation, Indra Navia AS, Leonardo S.p.a, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies, Saab AB, Searidge Technologies
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
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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