The Road Marking Materials Market is expected to register a CAGR of 5% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
Road Marking Materials Market covers analysis By Type (Performance-Based Markings, Paint-Based Markings); Application (Road Markings, Factory Markings, Parking Lot Markings, Airport Markings, Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). Road marking materials are used on roadways and walkways to provide pedestrians and drivers with direction and information. To eliminate driveway confusion and improve road safety, markings are standardized. Furthermore, technological developments such as retro reflectivity, marking lifespan, and cheap installation cost are being used to expand the market for road marking materials.
Purpose of the ReportThe report Road Marking Materials 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.
Road Marking Materials Market Segmentation
Type- Performance-Based Markings
- Paint-Based Markings
- Road Markings
- Factory Markings
- Parking Lot Markings
- Airport Markings
Strategic Insights
Road Marking Materials Market Growth Drivers- Urbanization and Economic Growth Drive Demand for Road Marking Materials: As the urbanization and economic growth increase the demand for road infrastructure, this market for road marking materials is blossoming. The most effective systems are required for new highways, expressways, and new urban roads for the management of traffic, safety, and guidance purposes, providing ample scope for durable high-performance road marking materials.
- Rising Road Safety Concerns Fuel Need for Improved Road Markings: As more people urbanize and gain cars to move about, the cases of congestion and the need for increasing safety on the roads arise. The need to have marked roads will increase demand for better flow of traffic and safety. Expanding more road networks to hold more vehicles increases the need for road marking materials as well.
- Environmental Concerns Boost Demand for Eco-Friendly Road Marking Materials: Current environmental concerns create a demand for eco-friendly road marking materials. Water-based paints, thermoplastic materials, and reflective glass beads are used to lower the content of damaging emissions to the atmosphere while making transportation infrastructure safer. Increasing adoption of environmentally responsible materials by governments and road authorities is fueling growth in the green road marking materials segment.
- Government Regulations Drive Demand for High-Quality Road Marking Materials: Regulation of government on the road marking for stricter standards of safety with respect to visibility, reflectivity, and durability of marks enhances the requirement for high-class road marking materials. Pedestrian safety-related regulations, road signs, and lane demarcation all require the application of advanced materials like thermoplastic paints and tapes for complying with the standards of road markings.
- Innovative Technologies Enhance Road Marking Visibility and Durability: The innovative road marking technologies of the kind that develop retro-reflective coatings and cold-applied liquid paints improve road marking visibility and durability. Development of these features into safer and more durable markings provides the foundation for market growth as municipalities and construction companies adopt new solutions.
- Government Focus on Road Safety Increases Demand for High-Quality Materials: There are important features in road safety through lane marking, pedestrian crossings, and signages. Governments around the world are focusing on road safety measures, which are increasing the demand for high-quality road marking materials, thereby maximizing visibility and reducing road traffic accident.
- Smart City Developments Drive Demand for Advanced Road Marking Materials: With cities transforming to become smart cities, better road markings are now required. Road markings are what will supplement smart traffic management systems, such as automated vehicles, sensors, and cameras. Technology-driven city infrastructure is increasing the demand for high-performance and long-lasting road marking material for more reliably formed smart cities.
- Frequent Road Maintenance Boosts Demand for Durable Marking Solutions: Road maintenance activities, often carried out frequently to enable safety and functioning in both the urban and rural areas, enhance the road marking materials market. The more frequent repainting and updating of road traffic lanes, especially in areas with harsh climatic conditions, demand more durable and weather-resistant products for road marking.
- Investments in Transportation Infrastructure Spur Growth in Road Marking Market: The continued investments in global transportation infrastructure, especially in the emerging markets, are boosting the growth in the road marking materials market. New constructions of roads, bridges, and tunnels within emerging regions boost demand for an efficient, durable, and cost-effective marking solution that assures safe and effective transportation networks.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Road Marking Materials 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 Road Marking Materials Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The Asia Pacific market is expected to account for the highest CAGR during the forecast period owing to the growing construction industry in the region.
The road markings application segment accounted for the largest market share in 2023
Sherwin Williams Company, Geveko Marking, Aximum SA, Kelly Bros Erinline, Swarco Limburger Lackfabric GmbH, Ozark Materials LLC, Ennis Flint, Roadmarking Industry Association of Australia, Evonik Industries, and Automack Technologies are some of the key players in the market.
Growing infrastructure developments is a key driver in the market
The Road Marking Materials Market is estimated to witness a CAGR of 5% from 2023 to 2031
Stringent government regulations is an emerging trend in the market
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Road Marking Materials Market - By Type
1.3.2 Road Marking Materials Market - By Application
1.3.3 Road Marking Materials Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ROAD MARKING MATERIALS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. ROAD MARKING 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 AND RESTRAINTS
6. ROAD MARKING MATERIALS MARKET - GLOBAL MARKET ANALYSIS
6.1. ROAD MARKING MATERIALS - GLOBAL MARKET OVERVIEW
6.2. ROAD MARKING MATERIALS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ROAD MARKING MATERIALS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. PERFORMANCE-BASED MARKINGS
7.3.1. Overview
7.3.2. Performance-Based Markings Market Forecast and Analysis
7.4. PAINT-BASED MARKINGS
7.4.1. Overview
7.4.2. Paint-Based Markings Market Forecast and Analysis
8. ROAD MARKING MATERIALS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ROAD MARKINGS
8.3.1. Overview
8.3.2. Road Markings Market Forecast and Analysis
8.4. FACTORY MARKINGS
8.4.1. Overview
8.4.2. Factory Markings Market Forecast and Analysis
8.5. PARKING LOT MARKINGS
8.5.1. Overview
8.5.2. Parking Lot Markings Market Forecast and Analysis
8.6. AIRPORT MARKINGS
8.6.1. Overview
8.6.2. Airport Markings Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. ROAD MARKING MATERIALS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Road Marking Materials Market Overview
9.1.2 North America Road Marking Materials Market Forecasts and Analysis
9.1.3 North America Road Marking Materials Market Forecasts and Analysis - By Type
9.1.4 North America Road Marking Materials Market Forecasts and Analysis - By Application
9.1.5 North America Road Marking Materials Market Forecasts and Analysis - By Countries
9.1.5.1 United States Road Marking Materials Market
9.1.5.1.1 United States Road Marking Materials Market by Type
9.1.5.1.2 United States Road Marking Materials Market by Application
9.1.5.2 Canada Road Marking Materials Market
9.1.5.2.1 Canada Road Marking Materials Market by Type
9.1.5.2.2 Canada Road Marking Materials Market by Application
9.1.5.3 Mexico Road Marking Materials Market
9.1.5.3.1 Mexico Road Marking Materials Market by Type
9.1.5.3.2 Mexico Road Marking Materials Market by Application
9.2. EUROPE
9.2.1 Europe Road Marking Materials Market Overview
9.2.2 Europe Road Marking Materials Market Forecasts and Analysis
9.2.3 Europe Road Marking Materials Market Forecasts and Analysis - By Type
9.2.4 Europe Road Marking Materials Market Forecasts and Analysis - By Application
9.2.5 Europe Road Marking Materials Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Road Marking Materials Market
9.2.5.1.1 Germany Road Marking Materials Market by Type
9.2.5.1.2 Germany Road Marking Materials Market by Application
9.2.5.2 France Road Marking Materials Market
9.2.5.2.1 France Road Marking Materials Market by Type
9.2.5.2.2 France Road Marking Materials Market by Application
9.2.5.3 Italy Road Marking Materials Market
9.2.5.3.1 Italy Road Marking Materials Market by Type
9.2.5.3.2 Italy Road Marking Materials Market by Application
9.2.5.4 United Kingdom Road Marking Materials Market
9.2.5.4.1 United Kingdom Road Marking Materials Market by Type
9.2.5.4.2 United Kingdom Road Marking Materials Market by Application
9.2.5.5 Russia Road Marking Materials Market
9.2.5.5.1 Russia Road Marking Materials Market by Type
9.2.5.5.2 Russia Road Marking Materials Market by Application
9.2.5.6 Rest of Europe Road Marking Materials Market
9.2.5.6.1 Rest of Europe Road Marking Materials Market by Type
9.2.5.6.2 Rest of Europe Road Marking Materials Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Road Marking Materials Market Overview
9.3.2 Asia-Pacific Road Marking Materials Market Forecasts and Analysis
9.3.3 Asia-Pacific Road Marking Materials Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Road Marking Materials Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Road Marking Materials Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Road Marking Materials Market
9.3.5.1.1 Australia Road Marking Materials Market by Type
9.3.5.1.2 Australia Road Marking Materials Market by Application
9.3.5.2 China Road Marking Materials Market
9.3.5.2.1 China Road Marking Materials Market by Type
9.3.5.2.2 China Road Marking Materials Market by Application
9.3.5.3 India Road Marking Materials Market
9.3.5.3.1 India Road Marking Materials Market by Type
9.3.5.3.2 India Road Marking Materials Market by Application
9.3.5.4 Japan Road Marking Materials Market
9.3.5.4.1 Japan Road Marking Materials Market by Type
9.3.5.4.2 Japan Road Marking Materials Market by Application
9.3.5.5 South Korea Road Marking Materials Market
9.3.5.5.1 South Korea Road Marking Materials Market by Type
9.3.5.5.2 South Korea Road Marking Materials Market by Application
9.3.5.6 Rest of Asia-Pacific Road Marking Materials Market
9.3.5.6.1 Rest of Asia-Pacific Road Marking Materials Market by Type
9.3.5.6.2 Rest of Asia-Pacific Road Marking Materials Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Road Marking Materials Market Overview
9.4.2 Middle East and Africa Road Marking Materials Market Forecasts and Analysis
9.4.3 Middle East and Africa Road Marking Materials Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Road Marking Materials Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Road Marking Materials Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Road Marking Materials Market
9.4.5.1.1 South Africa Road Marking Materials Market by Type
9.4.5.1.2 South Africa Road Marking Materials Market by Application
9.4.5.2 Saudi Arabia Road Marking Materials Market
9.4.5.2.1 Saudi Arabia Road Marking Materials Market by Type
9.4.5.2.2 Saudi Arabia Road Marking Materials Market by Application
9.4.5.3 U.A.E Road Marking Materials Market
9.4.5.3.1 U.A.E Road Marking Materials Market by Type
9.4.5.3.2 U.A.E Road Marking Materials Market by Application
9.4.5.4 Rest of Middle East and Africa Road Marking Materials Market
9.4.5.4.1 Rest of Middle East and Africa Road Marking Materials Market by Type
9.4.5.4.2 Rest of Middle East and Africa Road Marking Materials Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Road Marking Materials Market Overview
9.5.2 South and Central America Road Marking Materials Market Forecasts and Analysis
9.5.3 South and Central America Road Marking Materials Market Forecasts and Analysis - By Type
9.5.4 South and Central America Road Marking Materials Market Forecasts and Analysis - By Application
9.5.5 South and Central America Road Marking Materials Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Road Marking Materials Market
9.5.5.1.1 Brazil Road Marking Materials Market by Type
9.5.5.1.2 Brazil Road Marking Materials Market by Application
9.5.5.2 Argentina Road Marking Materials Market
9.5.5.2.1 Argentina Road Marking Materials Market by Type
9.5.5.2.2 Argentina Road Marking Materials Market by Application
9.5.5.3 Rest of South and Central America Road Marking Materials Market
9.5.5.3.1 Rest of South and Central America Road Marking Materials Market by Type
9.5.5.3.2 Rest of South and Central America Road Marking Materials Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. ROAD MARKING MATERIALS MARKET, KEY COMPANY PROFILES
11.1. SHERWIN WILLIAMS COMPANY
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. GEVEKO MARKING
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. AXIMUM SA
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. KELLY BROS ERINLINE
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. SWARCO LIMBURGER LACKFABRIC GMBH
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. OZARK MATERIALS LLC
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. ENNIS FLINT
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. ROADMARKING INDUSTRY ASSOCIATION OF AUSTRALIA
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. EVONIK INDUSTRIES
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. AUTOMACK TECHNOLOGIES
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
11.11. ASIAN PAINTS LTD.
11.11.1. Key Facts
11.11.2. Business Description
11.11.3. Products and Services
11.11.4. Financial Overview
11.11.5. SWOT Analysis
11.11.6. Key Developments
11.12. REDA NATIONAL CO.
11.12.1. Key Facts
11.12.2. Business Description
11.12.3. Products and Services
11.12.4. Financial Overview
11.12.5. SWOT Analysis
11.12.6. Key Developments
11.13. PPG INDUSTRIES INC.
11.13.1. Key Facts
11.13.2. Business Description
11.13.3. Products and Services
11.13.4. Financial Overview
11.13.5. SWOT Analysis
11.13.6. Key Developments
11.14. TATU TRAFFIC GROUP
11.14.1. Key Facts
11.14.2. Business Description
11.14.3. Products and Services
11.14.4. Financial Overview
11.14.5. SWOT Analysis
11.14.6. Key Developments
11.15. NIPPON PAINT HOLDINGS CO. LTD.
11.15.1. Key Facts
11.15.2. Business Description
11.15.3. Products and Services
11.15.4. Financial Overview
11.15.5. SWOT Analysis
11.15.6. Key Developments
11.16. HELIOS GROUP
11.16.1. Key Facts
11.16.2. Business Description
11.16.3. Products and Services
11.16.4. Financial Overview
11.16.5. SWOT Analysis
11.16.6. Key Developments
11.17. SEALMASTER
11.17.1. Key Facts
11.17.2. Business Description
11.17.3. Products and Services
11.17.4. Financial Overview
11.17.5. SWOT Analysis
11.17.6. Key Developments
11.18. LANINO
11.18.1. Key Facts
11.18.2. Business Description
11.18.3. Products and Services
11.18.4. Financial Overview
11.18.5. SWOT Analysis
11.18.6. Key Developments
11.19. ZHEJIANG BROTHER GUIDEPOST PAINT CO. LTD.
11.19.1. Key Facts
11.19.2. Business Description
11.19.3. Products and Services
11.19.4. Financial Overview
11.19.5. SWOT Analysis
11.19.6. Key Developments
11.20. 3M
11.20.1. Key Facts
11.20.2. Business Description
11.20.3. Products and Services
11.20.4. Financial Overview
11.20.5. SWOT Analysis
11.20.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.Sherwin Williams Company
2.Geveko Marking
3.Aximum SA
4.Kelly Bros Erinline
5.Swarco Limburger Lackfabric GmbH
6.Ozark Materials LLC
7.Ennis Flint
8.Roadmarking Industry Association of Australia
9.Evonik Industries
10.Automack Technologies
11.Asian Paints Ltd.
12.Reda National Co.
13.PPG Industries Inc.
14.TATU Traffic Group
15.Nippon Paint Holdings Co. Ltd.
16.Helios Group
17.SealMaster
18.LANINO
19.Zhejiang Brother Guidepost Paint Co. Ltd.
20.3M
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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