RFID Reader Market Drivers and Opportunities - 2031
The RFID Reader Market is expected to register a CAGR of 10.7% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Product Type (Handheld RFID Readers and Fixed RFID Readers), Frequency (Low Frequency (125 kHz - 134 kHz), High Frequency (13.56 MHz), and Ultra-high Frequency (860 MHz to 960 MHz)), and Industry Vertical (Apparel & Retail, Pharmaceutical & Healthcare, Transportation & Logistics, Industrial Manufacturing, Automotive, and Others). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments
Purpose of the Report
The report RFID Reader 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.
RFID Reader Market Segmentation
Product Type
- Handheld RFID Readers
- Fixed RFID Readers
Frequency
- Low Frequency
- High Frequency
- Ultra-high Frequency
Industry Vertical
- Apparel & Retail
- Pharmaceutical & Healthcare
- Transportation & Logistics
- Industrial Manufacturing
- Automotive
Geography
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Geography
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
RFID Reader Market Growth Drivers- Growing Adoption of Contactless Technology: The increasing preference for contactless technology is a major driver for the RFID reader market. RFID readers enable seamless, touchless transactions, improving speed and efficiency in applications such as retail, healthcare, and logistics. With the rise of digital payments, smart access control, and inventory management, demand for RFID readers has surged as they enhance the customer experience and streamline operations.
- Expansion of Supply Chain and Inventory Management Applications: The growing need for real-time tracking and management of goods in industries such as retail, logistics, and manufacturing is fueling the demand for RFID readers. RFID technology provides businesses with an efficient way to track inventory, manage assets, and prevent theft or loss. The increased focus on improving supply chain transparency and efficiency has driven the adoption of RFID systems, boosting the market for RFID readers.
- Implementation of Government Regulations for Asset Tracking: In certain industries, particularly healthcare, pharmaceuticals, and logistics, the implementation of government regulations requiring the tracking of goods and assets is driving the growth of the RFID reader market. Regulations that mandate product tracking, such as the FDA's UDI (Unique Device Identification) or the EU's Falsified Medicines Directive, require businesses to adopt RFID technology, which increases the need for RFID readers to comply with these regulations
- Integration of RFID with IoT (Internet of Things): The integration of RFID technology with IoT is one of the significant trends in the market. By connecting RFID readers to IoT networks, businesses can achieve greater levels of automation and data analytics. RFID-enabled IoT systems allow for real-time tracking, remote monitoring, and data collection, providing more intelligent solutions for industries like logistics, manufacturing, and healthcare. This trend is pushing the demand for advanced RFID readers capable of supporting IoT integration.
- Miniaturization and Portability of RFID Readers: A notable trend in the RFID reader market is the ongoing miniaturization and development of portable RFID readers. These smaller and more compact devices are easier to integrate into various applications, including wearable technology, mobile devices, and handheld terminals. As industries such as retail and warehousing require more flexible and mobile solutions, the demand for portable RFID readers has increased, facilitating their widespread adoption.
- Advancements in RFID Technology for Enhanced Data Capacity and Range: Advancements in RFID technology are contributing to improved data storage capacities and extended read ranges, which are becoming increasingly important for large-scale operations. Manufacturers are focusing on enhancing the capabilities of RFID readers to read data from multiple tags at greater distances, enabling faster and more efficient data collection in applications like warehouse management, transportation, and healthcare. These innovations in RFID technology are setting new market trends
- Growth in Retail and E-commerce Applications: As e-commerce continues to expand, there is a growing opportunity for RFID readers in retail and online supply chain management. Retailers are increasingly adopting RFID systems for inventory management, product tracking, and improving the customer experience. RFID readers help reduce human error, improve stock accuracy, and streamline checkout processes. The increasing integration of RFID with omnichannel retail strategies presents a key growth opportunity for the RFID reader market.
- Rising Demand for Healthcare Asset Tracking and Patient Monitoring: The healthcare industry presents significant opportunities for the RFID reader market, as hospitals and healthcare providers adopt RFID systems for tracking medical equipment, pharmaceuticals, and even patients. RFID readers enable efficient asset management, improve patient safety, and reduce operational costs. With the increasing focus on patient care and operational efficiency, the demand for RFID readers in healthcare applications is expected to grow, providing long-term opportunities.
- Expansion in Industrial Automation and Smart Manufacturing: RFID technology plays a crucial role in the ongoing trend of industrial automation and the development of smart manufacturing systems. RFID readers are used to track raw materials, monitor production processes, and manage equipment in real-time. As manufacturers seek to improve operational efficiency and reduce waste, the adoption of RFID readers in smart factories is expected to increase, providing a wealth of opportunities for RFID reader manufacturers to expand their market reach
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the RFID Reader 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 RFID Reader 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
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
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Increasing Adoption of Automation, Rising Need for Real-Time Tracking, Growth of E-commerce and Retail
Shift towards Mobile RFID Solutions
The RFID Reader Market is estimated to witness a CAGR of 10.7% from 2023 to 2031
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
- RFID Reader Market - By Product Type
- RFID Reader Market - By Frequency
- RFID Reader Market - By Industry Vertical
- RFID Reader Market - By Region
o By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. RFID READER MARKET LANDSCAPE
4.1. OVERVIEW
4.2. ECOSYSTEM ANALYSIS
4.3. PEST ANALYSIS
4.3.1. North America - PEST Analysis
4.3.2. Europe - PEST Analysis
4.3.3. Asia Pacific (APAC) - PEST Analysis
4.3.4. Middle East & Africa (MEA) - PEST Analysis
4.3.5. South America (SAM)- PEST Analysis
5. RFID READER MARKET - KEY INDUSTRY 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. RFID READER MARKET - GLOBAL MARKET ANALYSIS
6.1. RFID READER - GLOBAL MARKET OVERVIEW
6.2. RFID READER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/ MARKET SHARE
7. RFID READER MARKET REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. HANDHELD RFID READERS
7.3.1. Overview
7.3.2. Handheld RFID Readers Market Forecast and Analysis
7.4. FIXED RFID READERS
7.4.1. Overview
7.4.2. Fixed RFID Readers Market Forecast and Analysis
8. RFID READER MARKET REVENUE AND FORECASTS TO 2028 - FREQUENCY
8.1. OVERVIEW
8.2. FREQUENCY MARKET FORECASTS AND ANALYSIS
8.3. LOW FREQUENCY (125 KHZ - 134 KHZ)
8.3.1. Overview
8.3.2. Low Frequency (125 kHz - 134 kHz) Market Forecast and Analysis
8.4. HIGH FREQUENCY (13.56 MHZ)
8.4.1. Overview
8.4.2. High Frequency (13.56 MHz) Market Forecast and Analysis
8.5. ULTRA-HIGH FREQUENCY (860 MHZ TO 960 MHZ)
8.5.1. Overview
8.5.2. Ultra-high Frequency (860 MHz to 960 MHz) Market Forecast and Analysis
9. RFID READER MARKET REVENUE AND FORECASTS TO 2028 - INDUSTRY VERTICAL
9.1. OVERVIEW
9.2. INDUSTRY VERTICAL MARKET FORECASTS AND ANALYSIS
9.3. APPAREL & RETAIL
9.3.1. Overview
9.3.2. Apparel & Retail Market Forecast and Analysis
9.4. PHARMACEUTICAL & HEALTHCARE
9.4.1. Overview
9.4.2. Pharmaceutical & Healthcare Market Forecast and Analysis
9.5. TRANSPORTATION & LOGISTICS
9.5.1. Overview
9.5.2. Transportation & Logistics Market Forecast and Analysis
9.6. INDUSTRIAL MANUFACTURING
9.6.1. Overview
9.6.2. Industrial Manufacturing Market Forecast and Analysis
9.7. AUTOMOTIVE
9.7.1. Overview
9.7.2. Automotive Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. RFID READER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1. North America RFID Reader Market Overview
10.1.2. North America RFID Reader Market Forecasts and Analysis
10.1.3. North America Market Forecasts and Analysis - By Product Type
10.1.4. North America Market Forecasts and Analysis - By Frequency
10.1.5. North America Market Forecasts and Analysis - By Industry Vertical
10.1.6. North America Market Forecasts and Analysis - By Countries
10.1.6.1. US market
10.1.6.1.1. US Market by Product Type
10.1.6.1.2. US Market by Frequency
10.1.6.1.3. US Market by Industry Vertical
10.1.6.2. Canada market
10.1.6.2.1. Canada Market by Product Type
10.1.6.2.2. Canada Market by Frequency
10.1.6.2.3. Canada Market by Industry Vertical
10.1.6.3. Mexico market
10.1.6.3.1. Mexico Market by Product Type
10.1.6.3.2. Mexico Market by Frequency
10.1.6.3.3. Mexico Market by Industry Vertical
10.2. EUROPE
10.2.1. Europe RFID Reader Market Overview
10.2.2. Europe RFID Reader Market Forecasts and Analysis
10.2.3. Europe Market Forecasts and Analysis - By Product Type
10.2.4. Europe Market Forecasts and Analysis - By Frequency
10.2.5. Europe Market Forecasts and Analysis - By Industry Vertical
10.2.6. Europe Market Forecasts and Analysis - By Countries
10.2.6.1. France market
10.2.6.1.1. France Market by Product Type
10.2.6.1.2. France Market by Frequency
10.2.6.1.3. France Market by Industry Vertical
10.2.6.2. Germany market
10.2.6.2.1. Germany Market by Product Type
10.2.6.2.2. Germany Market by Frequency
10.2.6.2.3. Germany Market by Industry Vertical
10.2.6.3. Italy market
10.2.6.3.1. Italy Market by Product Type
10.2.6.3.2. Italy Market by Frequency
10.2.6.3.3. Italy Market by Industry Vertical
10.2.6.4. Russia market
10.2.6.4.1. Russia Market by Product Type
10.2.6.4.2. Russia Market by Frequency
10.2.6.4.3. Russia Market by Industry Vertical
10.2.6.5. UK market
10.2.6.5.1. UK Market by Product Type
10.2.6.5.2. UK Market by Frequency
10.2.6.5.3. UK Market by Industry Vertical
10.2.6.6. Rest of Europe market
10.2.6.6.1. Rest of Europe Market by Product Type
10.2.6.6.2. Rest of Europe Market by Frequency
10.2.6.6.3. Rest of Europe Market by Industry Vertical
10.3. ASIA PACIFIC (APAC)
10.3.1. Asia Pacific RFID Reader Market Overview
10.3.2. Asia Pacific RFID Reader Market Forecasts and Analysis
10.3.3. Asia Pacific Market Forecasts and Analysis - By Product Type
10.3.4. Asia Pacific Market Forecasts and Analysis - By Frequency
10.3.5. Asia Pacific Market Forecasts and Analysis - By Industry Vertical
10.3.6. Asia Pacific Market Forecasts and Analysis - By Countries
10.3.6.1. South Korea
10.3.6.1.1. South Korea Market by Product Type
10.3.6.1.2. South Korea Market by Frequency
10.3.6.1.3. South Korea Market by Industry Vertical
10.3.6.2. China market
10.3.6.2.1. China Market by Product Type
10.3.6.2.2. China Market by Frequency
10.3.6.2.3. China Market by Industry Vertical
10.3.6.3. India market
10.3.6.3.1. India Market by Product Type
10.3.6.3.2. India Market by Frequency
10.3.6.3.3. India Market by Industry Vertical
10.3.6.4. Japan market
10.3.6.4.1. Japan Market by Product Type
10.3.6.4.2. Japan Market by Frequency
10.3.6.4.3. Japan Market by Industry Vertical
10.3.6.5. Australia market
10.3.6.5.1. Australia Market by Product Type
10.3.6.5.2. Australia Market by Frequency
10.3.6.5.3. Australia Market by Industry Vertical
10.3.6.6. Rest of APAC market
10.3.6.6.1. Rest of APAC Market by Product Type
10.3.6.6.2. Rest of APAC Market by Frequency
10.3.6.6.3. Rest of APAC Market by Industry Vertical
10.4. MIDDLE EAST AND AFRICA (MEA)
10.4.1. Middle East and Africa RFID Reader Market Overview
10.4.2. Middle East and Africa RFID Reader Market Forecasts and Analysis
10.4.3. Middle East and Africa Market Forecasts and Analysis - By Product Type
10.4.4. Middle East and Africa Market Forecasts and Analysis - By Frequency
10.4.5. Middle East and Africa Market Forecasts and Analysis - By Industry Vertical
10.4.6. Middle East and Africa Market Forecasts and Analysis - By Countries
10.4.6.1. South Africa market
10.4.6.1.1. South Africa Market by Product Type
10.4.6.1.2. South Africa Market by Frequency
10.4.6.1.3. South Africa Market by Industry Vertical
10.4.6.2. Saudi Arabia market
10.4.6.2.1. Saudi Arabia Market by Product Type
10.4.6.2.2. Saudi Arabia Market by Frequency
10.4.6.2.3. Saudi Arabia Market by Industry Vertical
10.4.6.3. UAE market
10.4.6.3.1. UAE Market by Product Type
10.4.6.3.2. UAE Market by Frequency
10.4.6.3.3. UAE Market by Industry Vertical
10.4.6.4. Rest of MEA market
10.4.6.4.1. Rest of MEA Market by Product Type
10.4.6.4.2. Rest of MEA Market by Frequency
10.4.6.4.3. Rest of MEA Market by Industry Vertical
10.5. SOUTH AMERICA (SAM)
10.5.1. South America RFID Reader Market Overview
10.5.2. South America RFID Reader Market Forecasts and Analysis
10.5.3. South America Market Forecasts and Analysis - By Product Type
10.5.4. South America Market Forecasts and Analysis - By Frequency
10.5.5. South America Market Forecasts and Analysis - By Industry Vertical
10.5.6. South America Market Forecasts and Analysis - By Countries
10.5.6.1. Brazil market
10.5.6.1.1. Brazil Market by Product Type
10.5.6.1.2. Brazil Market by Frequency
10.5.6.1.3. Brazil Market by Industry Vertical
10.5.6.2. Argentina market
10.5.6.2.1. Argentina Market by Product Type
10.5.6.2.2. Argentina Market by Frequency
10.5.6.2.3. Argentina Market by Industry Vertical
10.5.6.3. Rest of SAM market
10.5.6.3.1. Rest of SAM Market by Product Type
10.5.6.3.2. Rest of SAM Market by Frequency
10.5.6.3.3. Rest of SAM Market by Industry Vertical
11. INDUSTRY LANDSCAPE
11.1. MERGERS & ACQUISITIONS
11.2. MARKET INITIATIVES
11.3. NEW DEVELOPMENTS
12. RFID READER MARKET, KEY COMPANY PROFILES
12.1. ALIEN TECHNOLOGY, LLC
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products & Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. APPLIED WIRELESS IDENTIFICATIONS GROUP, INC. (AWID)
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products & Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. CIPHERLAB CO., LTD.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products & Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. DATALOGIC S.P.A.
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products & Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. GAO RFID, INC.
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products & Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. HONEYWELL INTERNATIONAL INC.
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products & Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. IMPINJ, INC.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products & Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. INVENGO TECHNOLOGY PTE. LTD.
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products & Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. XEROX CORPORATION
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products & Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. ZEBRA TECHNOLOGIES CORPORATION
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products & 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
1. Alien Technology, LLC
2. Applied Wireless IDentifications Group, Inc. (AWID)
3. CIPHERLAB Co., Ltd.
4. Datalogic S.p.A.
5. GAO RFID, Inc.
6. Honeywell International Inc.
7. Impinj, Inc.
8. Invengo Technology Pte. Ltd.
9. Xerox Corporation
10. Zebra Technologies Corporation
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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