Retro-reflective Market SWOT Analysis by 2031
Analyst Perspective
The global retro-reflective materials market is estimated to register a CAGR of 17.7%. The growth potential of the automotive sector in developing countries and growing construction and road safety activities are expected to drive the market for retro-reflective materials. The use of ceramic beads is an emerging trend in the retro-reflective materials market as ceramic beads have a high reflective index and are more robust when compared is an opportunity in the retro-reflective materials market. Retro-reflective materials have limited shelf life, hence they must be changed periodically, which can be challenging for the retro-reflective material market.
Market Overview
Retro-reflective materials are materials used to reflect the light to its source with minimum scattering. Retro-reflective materials are widely used in road safety, so investment in highway and infrastructure development often influences the retro-reflective material market growth. The demand for retro-reflective materials is expected to grow as these materials have no close substitutes, and government regulations are forming strict regulations regarding workwear, which can enhance visibility in low light conditions. The market is expected to grow in the forecasted period because of safety benefits and increasing demand for infrastructure and the automotive sector.
Market Drivers
- Increasing growth in automotive and construction sector
- Retro-reflective materials are used for safety in different industries, such as construction, mining, infrastructure, textile, and automobile industries.
- Growing traffic plays a vital role in creating demand for retro-reflective materials.
- Increased focus on road safety drives demand for reflective materials on signs, barriers and marking tape for better visibility in low light conditions.
- Reflective clothing and gear for pedestrians, cyclists and construction workers enhance their visibility to drivers, reducing chances of accident.
- New technologies have led to brighter, more durable, and versatile retro-reflective material with wider application
- Increased awareness of safety and sustainability.
- Developing countries are experiencing rapid growth in vehicle ownership and infrastructure development, boosting demand for retro-reflective materials.
Market Segmentation
The global retro-reflective materials market is segmented based on technology, product type, and application. The global retro-reflective materials market is segmented based on technology into micro prismatic technology, glass beads technology, and ceramic beads technology. The global retro-reflective materials market is segmented based on product type: films, sheets & tapes, inks & coatings, and others. The retro-reflective materials market is segmented based on application traffic control, safety apparel, automotive, industrial, and others.
Regional Analysis
The report provides a detailed industry overview, which includes qualitative and quantitative information. It gives information on an overview and forecast of the global retro-reflective materials market based on several segments. It also provides market size and forecast estimates from 2021 to 2031 concerning five major regions: Europe, North America, Asia-Pacific (APAC), Middle East & Africa (MEA) and South & Central America. The retro-reflective materials market by region is also sub-segmented by respective countries and segments. The retro-reflective Materials market Report covers an analysis and forecast of eighteen countries globally and the prevailing trends and opportunities in the region.
The report analyses factors affecting the retro-reflective materials market from both the demand and supply side. Furthermore, it evaluates market dynamics during the forecast period, i.e., drivers, challenges, opportunities, and future trends. The report also provides an extensive Porter's Five Forces analysis highlighting factors affecting these regions' retro-reflective materials market.
Key Players
The reports cover vital organic and inorganic growth strategy developments in the retro-reflective materials market. Various companies concentrate on organic growth strategies such as product launches, approvals, patents, and others. Inorganic growth strategies activities observed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the development of the business and customer base of market players. The retro-reflective materials market players are anticipated to have lucrative growth opportunities with the increasing demand for safety products in the global market.
The report includes key companies' profiles, SWOT analysis, and retro-reflective materials market strategies. The report also focuses on leading market players with information including components, and services offered, company profiles, financial information for the last three years, and critical development in the past five years.
Below is a list of companies engaged in the retro-reflective materials market.
- 3M Company
- ORAFOL
- Asian Paints PPG
- Reflomax
- Avery Dennison
- Nippon Carbide Industries
- Taiwan Paiho Ltd
- Changzhou Hua Sheng
- DM reflective material co ltd
- Honeywell International Inc
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Retro-reflective Materials Market - By Technology
1.3.2 Retro-reflective Materials Market - By Product Type
1.3.3 Retro-reflective Materials Market - By Application
1.3.4 Retro-reflective Materials Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. RETRO-REFLECTIVE MATERIALS 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. RETRO-REFLECTIVE MATERIALS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. RETRO-REFLECTIVE MATERIALS MARKET - GLOBAL MARKET ANALYSIS
6.1. RETRO-REFLECTIVE MATERIALS - GLOBAL MARKET OVERVIEW
6.2. RETRO-REFLECTIVE MATERIALS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. RETRO-REFLECTIVE MATERIALS MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
7.1. OVERVIEW
7.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. MICROPRISMATIC TECHNOLOGY
7.3.1. Overview
7.3.2. Microprismatic Technology Market Forecast and Analysis
7.4. GLASS BEADS TECHNOLOGY
7.4.1. Overview
7.4.2. Glass Beads Technology Market Forecast and Analysis
7.5. CERAMIC BEADS TECHNOLOGY
7.5.1. Overview
7.5.2. Ceramic Beads Technology Market Forecast and Analysis
8. RETRO-REFLECTIVE MATERIALS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
8.1. OVERVIEW
8.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
8.3. FILMS SHEETS AND TAPES
8.3.1. Overview
8.3.2. Films Sheets and Tapes Market Forecast and Analysis
8.4. PAINTS INKS AND COATINGS
8.4.1. Overview
8.4.2. Paints Inks and Coatings Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. RETRO-REFLECTIVE MATERIALS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. TRAFFIC CONTROL AND WORK ZONE
9.3.1. Overview
9.3.2. Traffic Control and Work Zone Market Forecast and Analysis
9.4. CONSPICUITY AND FLEET AND VEHICLE REGISTRATION
9.4.1. Overview
9.4.2. Conspicuity and Fleet and Vehicle Registration Market Forecast and Analysis
9.5. PERSONAL SAFETY
9.5.1. Overview
9.5.2. Personal Safety Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. RETRO-REFLECTIVE MATERIALS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Retro-reflective Materials Market Overview
10.1.2 North America Retro-reflective Materials Market Forecasts and Analysis
10.1.3 North America Retro-reflective Materials Market Forecasts and Analysis - By Technology
10.1.4 North America Retro-reflective Materials Market Forecasts and Analysis - By Product Type
10.1.5 North America Retro-reflective Materials Market Forecasts and Analysis - By Application
10.1.6 North America Retro-reflective Materials Market Forecasts and Analysis - By Countries
10.1.6.1 United States Retro-reflective Materials Market
10.1.6.1.1 United States Retro-reflective Materials Market by Technology
10.1.6.1.2 United States Retro-reflective Materials Market by Product Type
10.1.6.1.3 United States Retro-reflective Materials Market by Application
10.1.6.2 Canada Retro-reflective Materials Market
10.1.6.2.1 Canada Retro-reflective Materials Market by Technology
10.1.6.2.2 Canada Retro-reflective Materials Market by Product Type
10.1.6.2.3 Canada Retro-reflective Materials Market by Application
10.1.6.3 Mexico Retro-reflective Materials Market
10.1.6.3.1 Mexico Retro-reflective Materials Market by Technology
10.1.6.3.2 Mexico Retro-reflective Materials Market by Product Type
10.1.6.3.3 Mexico Retro-reflective Materials Market by Application
10.2. EUROPE
10.2.1 Europe Retro-reflective Materials Market Overview
10.2.2 Europe Retro-reflective Materials Market Forecasts and Analysis
10.2.3 Europe Retro-reflective Materials Market Forecasts and Analysis - By Technology
10.2.4 Europe Retro-reflective Materials Market Forecasts and Analysis - By Product Type
10.2.5 Europe Retro-reflective Materials Market Forecasts and Analysis - By Application
10.2.6 Europe Retro-reflective Materials Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Retro-reflective Materials Market
10.2.6.1.1 Germany Retro-reflective Materials Market by Technology
10.2.6.1.2 Germany Retro-reflective Materials Market by Product Type
10.2.6.1.3 Germany Retro-reflective Materials Market by Application
10.2.6.2 France Retro-reflective Materials Market
10.2.6.2.1 France Retro-reflective Materials Market by Technology
10.2.6.2.2 France Retro-reflective Materials Market by Product Type
10.2.6.2.3 France Retro-reflective Materials Market by Application
10.2.6.3 Italy Retro-reflective Materials Market
10.2.6.3.1 Italy Retro-reflective Materials Market by Technology
10.2.6.3.2 Italy Retro-reflective Materials Market by Product Type
10.2.6.3.3 Italy Retro-reflective Materials Market by Application
10.2.6.4 United Kingdom Retro-reflective Materials Market
10.2.6.4.1 United Kingdom Retro-reflective Materials Market by Technology
10.2.6.4.2 United Kingdom Retro-reflective Materials Market by Product Type
10.2.6.4.3 United Kingdom Retro-reflective Materials Market by Application
10.2.6.5 Russia Retro-reflective Materials Market
10.2.6.5.1 Russia Retro-reflective Materials Market by Technology
10.2.6.5.2 Russia Retro-reflective Materials Market by Product Type
10.2.6.5.3 Russia Retro-reflective Materials Market by Application
10.2.6.6 Rest of Europe Retro-reflective Materials Market
10.2.6.6.1 Rest of Europe Retro-reflective Materials Market by Technology
10.2.6.6.2 Rest of Europe Retro-reflective Materials Market by Product Type
10.2.6.6.3 Rest of Europe Retro-reflective Materials Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Retro-reflective Materials Market Overview
10.3.2 Asia-Pacific Retro-reflective Materials Market Forecasts and Analysis
10.3.3 Asia-Pacific Retro-reflective Materials Market Forecasts and Analysis - By Technology
10.3.4 Asia-Pacific Retro-reflective Materials Market Forecasts and Analysis - By Product Type
10.3.5 Asia-Pacific Retro-reflective Materials Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Retro-reflective Materials Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Retro-reflective Materials Market
10.3.6.1.1 Australia Retro-reflective Materials Market by Technology
10.3.6.1.2 Australia Retro-reflective Materials Market by Product Type
10.3.6.1.3 Australia Retro-reflective Materials Market by Application
10.3.6.2 China Retro-reflective Materials Market
10.3.6.2.1 China Retro-reflective Materials Market by Technology
10.3.6.2.2 China Retro-reflective Materials Market by Product Type
10.3.6.2.3 China Retro-reflective Materials Market by Application
10.3.6.3 India Retro-reflective Materials Market
10.3.6.3.1 India Retro-reflective Materials Market by Technology
10.3.6.3.2 India Retro-reflective Materials Market by Product Type
10.3.6.3.3 India Retro-reflective Materials Market by Application
10.3.6.4 Japan Retro-reflective Materials Market
10.3.6.4.1 Japan Retro-reflective Materials Market by Technology
10.3.6.4.2 Japan Retro-reflective Materials Market by Product Type
10.3.6.4.3 Japan Retro-reflective Materials Market by Application
10.3.6.5 South Korea Retro-reflective Materials Market
10.3.6.5.1 South Korea Retro-reflective Materials Market by Technology
10.3.6.5.2 South Korea Retro-reflective Materials Market by Product Type
10.3.6.5.3 South Korea Retro-reflective Materials Market by Application
10.3.6.6 Rest of Asia-Pacific Retro-reflective Materials Market
10.3.6.6.1 Rest of Asia-Pacific Retro-reflective Materials Market by Technology
10.3.6.6.2 Rest of Asia-Pacific Retro-reflective Materials Market by Product Type
10.3.6.6.3 Rest of Asia-Pacific Retro-reflective Materials Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Retro-reflective Materials Market Overview
10.4.2 Middle East and Africa Retro-reflective Materials Market Forecasts and Analysis
10.4.3 Middle East and Africa Retro-reflective Materials Market Forecasts and Analysis - By Technology
10.4.4 Middle East and Africa Retro-reflective Materials Market Forecasts and Analysis - By Product Type
10.4.5 Middle East and Africa Retro-reflective Materials Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Retro-reflective Materials Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Retro-reflective Materials Market
10.4.6.1.1 South Africa Retro-reflective Materials Market by Technology
10.4.6.1.2 South Africa Retro-reflective Materials Market by Product Type
10.4.6.1.3 South Africa Retro-reflective Materials Market by Application
10.4.6.2 Saudi Arabia Retro-reflective Materials Market
10.4.6.2.1 Saudi Arabia Retro-reflective Materials Market by Technology
10.4.6.2.2 Saudi Arabia Retro-reflective Materials Market by Product Type
10.4.6.2.3 Saudi Arabia Retro-reflective Materials Market by Application
10.4.6.3 U.A.E Retro-reflective Materials Market
10.4.6.3.1 U.A.E Retro-reflective Materials Market by Technology
10.4.6.3.2 U.A.E Retro-reflective Materials Market by Product Type
10.4.6.3.3 U.A.E Retro-reflective Materials Market by Application
10.4.6.4 Rest of Middle East and Africa Retro-reflective Materials Market
10.4.6.4.1 Rest of Middle East and Africa Retro-reflective Materials Market by Technology
10.4.6.4.2 Rest of Middle East and Africa Retro-reflective Materials Market by Product Type
10.4.6.4.3 Rest of Middle East and Africa Retro-reflective Materials Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Retro-reflective Materials Market Overview
10.5.2 South and Central America Retro-reflective Materials Market Forecasts and Analysis
10.5.3 South and Central America Retro-reflective Materials Market Forecasts and Analysis - By Technology
10.5.4 South and Central America Retro-reflective Materials Market Forecasts and Analysis - By Product Type
10.5.5 South and Central America Retro-reflective Materials Market Forecasts and Analysis - By Application
10.5.6 South and Central America Retro-reflective Materials Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Retro-reflective Materials Market
10.5.6.1.1 Brazil Retro-reflective Materials Market by Technology
10.5.6.1.2 Brazil Retro-reflective Materials Market by Product Type
10.5.6.1.3 Brazil Retro-reflective Materials Market by Application
10.5.6.2 Argentina Retro-reflective Materials Market
10.5.6.2.1 Argentina Retro-reflective Materials Market by Technology
10.5.6.2.2 Argentina Retro-reflective Materials Market by Product Type
10.5.6.2.3 Argentina Retro-reflective Materials Market by Application
10.5.6.3 Rest of South and Central America Retro-reflective Materials Market
10.5.6.3.1 Rest of South and Central America Retro-reflective Materials Market by Technology
10.5.6.3.2 Rest of South and Central America Retro-reflective Materials Market by Product Type
10.5.6.3.3 Rest of South and Central America Retro-reflective Materials 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. RETRO-REFLECTIVE MATERIALS MARKET, KEY COMPANY PROFILES
12.1. 3M COMPANY
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. AMERICAN AND EFIRD LLC
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. ASIAN PAINTS LIMITED
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. AVERY DENNISON 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. CHANGZHOU HUA R SHENG REFLECTIVE MATERIAL CO., LTD.
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. COATS GROUP PLC
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. NIPPON CARBIDE INDUSTRIES CO., INC
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. ORAFOL EUROPE GMBH
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. PAIHO GROUP
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. REFLOMAX 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
The List of Companies
- 3M Company
- American & Efird LLC
- Asian Paints Limited
- Avery Dennison Corporation
- Changzhou Hua R Sheng Reflective Material Co., Ltd.
- Coats Group plc
- Nippon Carbide Industries Co., Inc.
- ORAFOL Europe GmbH
- Paiho Group
- REFLOMAX 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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