Satellite Bus Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Satellite Bus is also known as spacecraft bus designed to carry payloads such as instruments or other space experiments products. The market is majorly driven by increasing demand for small satellite buses due to their performance and increasing payload carrying capacity. In addition, increasing investment by the various governments into the space industry is propelling market growth. For instance, in October 2021, SpaceX announced to launch of Photon, the first satellite-based on a Rocket Lab bus, in early 2023. Similarly, Millennium has also announced the development of A U.S. Space Force missile warning experimental satellite, which will be built on the Millennium Space bus to be launched by 2022 in orbit. Such increasing development and rising investment are bolstering the market growth.
MARKET SCOPE
The "Global Satellite Bus Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Satellite Bus market with detailed market segmentation by satellite size, subsystem, application, and geography. The report provides key statistics on the market status of the leading Satellite Bus market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on satellite size, the market is segmented as small, medium, and large.
- On the basis of the subsystem, the market is segmented into structures and mechanisms, thermal control, electric power system, attitude control system, propulsion, telemetry tracking and command (TT&C), and flight software.
- On the basis of application, the market is segmented into earth observation and meteorology, communication, scientific research and exploration, surveillance and security, mapping and navigation, and others.
MARKET DYNAMICS
Drivers:
- The increasing demand for satellite-based communication services is a significant factor in driving the growth of the satellite bus market.
- Growing demand for small satellite buses is bolstering the market growth.
Restraints:
- High cost of satellite bus development is limiting the market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Satellite Bus market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Satellite Bus market in these regions
IMPACT OF COVID-19 ON SATELLITE BUS MARKET
The outbreak of the COVID-19 has severely impacted the aviation and space industry. According to the OECD (Organisation for Economic Co-operation and Development), the space industry took a severe hit from the COVID - 19 pandemic. Specifically, small players in the space sector faced a considerable downturn in their financial condition. The OECD also mentioned there is a substantial chance that the space industry will be led towards more concentration, eliminating smaller players due to the high cost of entry and operation to the sector. However, according to the survey conducted by the Korea Association for the Promotion of Space Technology, 42% of space companies surveyed in Korea are expecting to recover business in the first half of 2021, showing a positive sign for the market growth.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Satellite Bus market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Satellite Bus market in these regions
IMPACT OF COVID-19 ON SATELLITE BUS MARKET
The outbreak of the COVID-19 has severely impacted the aviation and space industry. According to the OECD (Organisation for Economic Co-operation and Development), the space industry took a severe hit from the COVID - 19 pandemic. Specifically, small players in the space sector faced a considerable downturn in their financial condition. The OECD also mentioned there is a substantial chance that the space industry will be led towards more concentration, eliminating smaller players due to the high cost of entry and operation to the sector. However, according to the survey conducted by the Korea Association for the Promotion of Space Technology, 42% of space companies surveyed in Korea are expecting to recover business in the first half of 2021, showing a positive sign for the market growth.
MARKET PLAYERS
The report covers key developments in the Satellite Bus market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Satellite Bus market are anticipated to lucrative growth opportunities in the future with the rising demand for Satellite Bus in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Satellite Bus market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Airbus S.A.S.
- BALL CORPORATION
- CAST
- Honeywell International Inc.
- IAI
- Lockheed Martin Corporation
- Mitsubishi Electric Corporation
- Northrop Grumman
- Sierra Nevada Corporation
- Thales Group
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
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Segment Covered
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Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
This text is related
to country scope.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Satellite Bus Market - By Satellite Size
1.3.2Satellite Bus Market - By Subsystem
1.3.3Satellite Bus Market - By Application
1.3.4Satellite Bus Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.SATELLITE BUS MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PORTER'S FIVE FORCES ANALYSIS
4.2.1Bargaining Power of Buyers
4.2.1Bargaining Power of Suppliers
4.2.1Threat of Substitute
4.2.1Threat of New Entrants
4.2.1Competitive Rivalry
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.SATELLITE BUS 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.SATELLITE BUS MARKET - GLOBAL MARKET ANALYSIS
6.1.SATELLITE BUS - GLOBAL MARKET OVERVIEW
6.2.SATELLITE BUS - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.SATELLITE BUS MARKET - REVENUE AND FORECASTS TO 2028 â" SATELLITE SIZE
7.1.OVERVIEW
7.2.SATELLITE SIZE MARKET FORECASTS AND ANALYSIS
7.3.SMALL (1-500KG)
7.3.1.Overview
7.3.2.Small (1-500kg) Market Forecast and Analysis
7.4.MEDIUM (501-2,500KG)
7.4.1.Overview
7.4.2.Medium (501-2,500kg) Market Forecast and Analysis
7.5.LARGE (>2,500KG)
7.5.1.Overview
7.5.2.Large (>2,500kg) Market Forecast and Analysis
8.SATELLITE BUS MARKET - REVENUE AND FORECASTS TO 2028 â" SUBSYSTEM
8.1.OVERVIEW
8.2.SUBSYSTEM MARKET FORECASTS AND ANALYSIS
8.3.STRUCTURES AND MECHANISMS
8.3.1.Overview
8.3.2.Structures and Mechanisms Market Forecast and Analysis
8.4.THERMAL CONTROL
8.4.1.Overview
8.4.2.Thermal Control Market Forecast and Analysis
8.5.ELECTRIC POWER SYSTEM
8.5.1.Overview
8.5.2.Electric Power System Market Forecast and Analysis
8.6.ATTITUDE CONTROL SYSTEM
8.6.1.Overview
8.6.2.Attitude Control System Market Forecast and Analysis
8.7.FLIGHT SOFTWARE
8.7.1.Overview
8.7.2.Flight Software Market Forecast and Analysis
8.8.OTHERS
8.8.1.Overview
8.8.2.Others Market Forecast and Analysis
9.SATELLITE BUS MARKET - REVENUE AND FORECASTS TO 2028 â" APPLICATION
9.1.OVERVIEW
9.2.APPLICATION MARKET FORECASTS AND ANALYSIS
9.3.EARTH OBSERVATION AND METEOROLOGY
9.3.1.Overview
9.3.2.Earth Observation and Meteorology Market Forecast and Analysis
9.4.SCIENTIFIC RESEARCH AND EXPLORATION
9.4.1.Overview
9.4.2.Scientific Research and Exploration Market Forecast and Analysis
9.5.SURVEILLANCE AND SECURITY
9.5.1.Overview
9.5.2.Surveillance and Security Market Forecast and Analysis
9.6.MAPPING AND NAVIGATION
9.6.1.Overview
9.6.2.Mapping and Navigation Market Forecast and Analysis
9.7.OTHERS
9.7.1.Overview
9.7.2.Others Market Forecast and Analysis
10.SATELLITE BUS MARKET REVENUE AND FORECASTS TO 2028 â" GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Satellite Bus Market Overview
10.1.2North America Satellite Bus Market Forecasts and Analysis
10.1.3North America Satellite Bus Market Forecasts and Analysis - By Satellite Size
10.1.4North America Satellite Bus Market Forecasts and Analysis - By Subsystem
10.1.5North America Satellite Bus Market Forecasts and Analysis - By Application
10.1.6North America Satellite Bus Market Forecasts and Analysis - By Countries
10.1.6.1United States Satellite Bus Market
10.1.6.1.1United States Satellite Bus Market by Satellite Size
10.1.6.1.2United States Satellite Bus Market by Subsystem
10.1.6.1.3United States Satellite Bus Market by Application
10.1.6.2Canada Satellite Bus Market
10.1.6.2.1Canada Satellite Bus Market by Satellite Size
10.1.6.2.2Canada Satellite Bus Market by Subsystem
10.1.6.2.3Canada Satellite Bus Market by Application
10.1.6.3Mexico Satellite Bus Market
10.1.6.3.1Mexico Satellite Bus Market by Satellite Size
10.1.6.3.2Mexico Satellite Bus Market by Subsystem
10.1.6.3.3Mexico Satellite Bus Market by Application
10.2.EUROPE
10.2.1Europe Satellite Bus Market Overview
10.2.2Europe Satellite Bus Market Forecasts and Analysis
10.2.3Europe Satellite Bus Market Forecasts and Analysis - By Satellite Size
10.2.4Europe Satellite Bus Market Forecasts and Analysis - By Subsystem
10.2.5Europe Satellite Bus Market Forecasts and Analysis - By Application
10.2.6Europe Satellite Bus Market Forecasts and Analysis - By Countries
10.2.6.1Germany Satellite Bus Market
10.2.6.1.1Germany Satellite Bus Market by Satellite Size
10.2.6.1.2Germany Satellite Bus Market by Subsystem
10.2.6.1.3Germany Satellite Bus Market by Application
10.2.6.2France Satellite Bus Market
10.2.6.2.1France Satellite Bus Market by Satellite Size
10.2.6.2.2France Satellite Bus Market by Subsystem
10.2.6.2.3France Satellite Bus Market by Application
10.2.6.3Italy Satellite Bus Market
10.2.6.3.1Italy Satellite Bus Market by Satellite Size
10.2.6.3.2Italy Satellite Bus Market by Subsystem
10.2.6.3.3Italy Satellite Bus Market by Application
10.2.6.4United Kingdom Satellite Bus Market
10.2.6.4.1United Kingdom Satellite Bus Market by Satellite Size
10.2.6.4.2United Kingdom Satellite Bus Market by Subsystem
10.2.6.4.3United Kingdom Satellite Bus Market by Application
10.2.6.5Russia Satellite Bus Market
10.2.6.5.1Russia Satellite Bus Market by Satellite Size
10.2.6.5.2Russia Satellite Bus Market by Subsystem
10.2.6.5.3Russia Satellite Bus Market by Application
10.2.6.6Rest of Europe Satellite Bus Market
10.2.6.6.1Rest of Europe Satellite Bus Market by Satellite Size
10.2.6.6.2Rest of Europe Satellite Bus Market by Subsystem
10.2.6.6.3Rest of Europe Satellite Bus Market by Application
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Satellite Bus Market Overview
10.3.2Asia-Pacific Satellite Bus Market Forecasts and Analysis
10.3.3Asia-Pacific Satellite Bus Market Forecasts and Analysis - By Satellite Size
10.3.4Asia-Pacific Satellite Bus Market Forecasts and Analysis - By Subsystem
10.3.5Asia-Pacific Satellite Bus Market Forecasts and Analysis - By Application
10.3.6Asia-Pacific Satellite Bus Market Forecasts and Analysis - By Countries
10.3.6.1Australia Satellite Bus Market
10.3.6.1.1Australia Satellite Bus Market by Satellite Size
10.3.6.1.2Australia Satellite Bus Market by Subsystem
10.3.6.1.3Australia Satellite Bus Market by Application
10.3.6.2China Satellite Bus Market
10.3.6.2.1China Satellite Bus Market by Satellite Size
10.3.6.2.2China Satellite Bus Market by Subsystem
10.3.6.2.3China Satellite Bus Market by Application
10.3.6.3India Satellite Bus Market
10.3.6.3.1India Satellite Bus Market by Satellite Size
10.3.6.3.2India Satellite Bus Market by Subsystem
10.3.6.3.3India Satellite Bus Market by Application
10.3.6.4Japan Satellite Bus Market
10.3.6.4.1Japan Satellite Bus Market by Satellite Size
10.3.6.4.2Japan Satellite Bus Market by Subsystem
10.3.6.4.3Japan Satellite Bus Market by Application
10.3.6.5South Korea Satellite Bus Market
10.3.6.5.1South Korea Satellite Bus Market by Satellite Size
10.3.6.5.2South Korea Satellite Bus Market by Subsystem
10.3.6.5.3South Korea Satellite Bus Market by Application
10.3.6.6Rest of Asia-Pacific Satellite Bus Market
10.3.6.6.1Rest of Asia-Pacific Satellite Bus Market by Satellite Size
10.3.6.6.2Rest of Asia-Pacific Satellite Bus Market by Subsystem
10.3.6.6.3Rest of Asia-Pacific Satellite Bus Market by Application
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Satellite Bus Market Overview
10.4.2Middle East and Africa Satellite Bus Market Forecasts and Analysis
10.4.3Middle East and Africa Satellite Bus Market Forecasts and Analysis - By Satellite Size
10.4.4Middle East and Africa Satellite Bus Market Forecasts and Analysis - By Subsystem
10.4.5Middle East and Africa Satellite Bus Market Forecasts and Analysis - By Application
10.4.6Middle East and Africa Satellite Bus Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Satellite Bus Market
10.4.6.1.1South Africa Satellite Bus Market by Satellite Size
10.4.6.1.2South Africa Satellite Bus Market by Subsystem
10.4.6.1.3South Africa Satellite Bus Market by Application
10.4.6.2Saudi Arabia Satellite Bus Market
10.4.6.2.1Saudi Arabia Satellite Bus Market by Satellite Size
10.4.6.2.2Saudi Arabia Satellite Bus Market by Subsystem
10.4.6.2.3Saudi Arabia Satellite Bus Market by Application
10.4.6.3U.A.E Satellite Bus Market
10.4.6.3.1U.A.E Satellite Bus Market by Satellite Size
10.4.6.3.2U.A.E Satellite Bus Market by Subsystem
10.4.6.3.3U.A.E Satellite Bus Market by Application
10.4.6.4Rest of Middle East and Africa Satellite Bus Market
10.4.6.4.1Rest of Middle East and Africa Satellite Bus Market by Satellite Size
10.4.6.4.2Rest of Middle East and Africa Satellite Bus Market by Subsystem
10.4.6.4.3Rest of Middle East and Africa Satellite Bus Market by Application
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Satellite Bus Market Overview
10.5.2South and Central America Satellite Bus Market Forecasts and Analysis
10.5.3South and Central America Satellite Bus Market Forecasts and Analysis - By Satellite Size
10.5.4South and Central America Satellite Bus Market Forecasts and Analysis - By Subsystem
10.5.5South and Central America Satellite Bus Market Forecasts and Analysis - By Application
10.5.6South and Central America Satellite Bus Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Satellite Bus Market
10.5.6.1.1Brazil Satellite Bus Market by Satellite Size
10.5.6.1.2Brazil Satellite Bus Market by Subsystem
10.5.6.1.3Brazil Satellite Bus Market by Application
10.5.6.2Argentina Satellite Bus Market
10.5.6.2.1Argentina Satellite Bus Market by Satellite Size
10.5.6.2.2Argentina Satellite Bus Market by Subsystem
10.5.6.2.3Argentina Satellite Bus Market by Application
10.5.6.3Rest of South and Central America Satellite Bus Market
10.5.6.3.1Rest of South and Central America Satellite Bus Market by Satellite Size
10.5.6.3.2Rest of South and Central America Satellite Bus Market by Subsystem
10.5.6.3.3Rest of South and Central America Satellite Bus 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.SATELLITE BUS MARKET, KEY COMPANY PROFILES
12.1.AIRBUS S.A.S.
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.BALL 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.CASTÂ
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.HONEYWELL INTERNATIONAL INC.
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.IAIÂ
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.LOCKHEED MARTIN 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.MITSUBISHI ELECTRIC CORPORATION
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.NORTHROP GRUMMAN
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.SIERRA NEVADA CORPORATION
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.Airbus S.A.S.
2.BALL CORPORATION
3.CASTÂ
4.Honeywell International Inc.
5.IAI
6.Lockheed Martin Corporation
7.Mitsubishi Electric Corporation
8.Northrop Grumman
9.Sierra Nevada Corporation
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.