Security Ink Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Security Ink Market Size and Forecasts (2021 - 2031), Global and Regional Growth Opportunity Analysis, and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00018251
  • Category : Chemicals and Materials
  • No. of Pages : 150
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Security Ink Market Developments by 2031

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The Security Ink Market is expected to register a CAGR of 4% from 2024 to 2031, with a market size expanding from US$ XX Million in 2023 to US$ XX Million by 2031.

The security ink market report is segmented by type (invisible, biometric, fluorescent, thermochromic, and others). The market is segmented based on printing method (letterpress, offset, intaglio, and others). The market is segmented based on application (banknotes, official identity documents, tax banderoles, security labels, and others). The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis, segments, regions, and countries. The report covers market trends, as well as market dynamics such as drivers, restraints, and key opportunities. The report also covers industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the market.

Purpose of the Report

The report Security Ink 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.

Security Ink Market Segmentation

Type
  • Invisible
  • Biometric
  • Fluorescent
  • Thermochromic
Printing Method
  • Letterpress
  • Offset
  • Intaglio

Strategic Insights

Security Ink Market Growth Drivers
  • Rising Need for Anti-Counterfeiting Measures: With increasing instances of counterfeit products and fraud, security inks are widely used in the production of banknotes, passports, identity cards, and product packaging to prevent duplication and forgery. The growing global emphasis on security, especially in the financial, government, and packaging sectors, is driving the demand for specialized security inks.
  • Technological Advancements in Ink Formulation: The development of advanced security ink technologies, such as UV-sensitive inks, color-shifting inks, and micro-encapsulated inks, has expanded their use across various applications. Innovations that enhance the security and uniqueness of printed materials, making them more difficult to replicate, are fueling market growth.
  • Growth in Packaging and Labeling Industries: The use of security inks in product packaging and labeling to authenticate products, particularly in pharmaceuticals, luxury goods, and consumer electronics, is increasing. As consumer awareness about brand protection and the prevention of counterfeit products rises, the demand for security inks in packaging and labeling applications continues to grow.
Security Ink Market Future Trends
  • Digital Security Inks for Authentication: As counterfeit activities increase, the demand for advanced digital security inks is expected to rise. These inks will be designed for integration with blockchain technology, enabling enhanced authentication and traceability of documents and high-value items, providing a strong deterrent against fraud.
  • Sustainability and Eco-friendly Security Inks: With growing environmental awareness, there will be a shift towards developing eco-friendly security inks. These inks will use natural or biodegradable components, addressing both regulatory pressures and consumer demand for sustainable solutions. This trend is expected to be crucial in packaging and document printing.
  • Integration of Multi-layered Security Features: The future of security inks will see the combination of various security elements, such as UV-sensitive inks, thermochromic inks, and microtext, within one product. This integration will enhance document protection, ensuring advanced fraud prevention across a wide range of industries, including banking, government, and pharmaceuticals.
Security Ink Market Opportunities
  • Growth in the Printing and Packaging Industry: As the global packaging industry expands, especially with the rise of e-commerce and retail, the need for secure and branded packaging has increased. Security inks are used for brand protection and to ensure the safety of goods, particularly in the food, beverage, and pharmaceutical sectors, creating significant market potential.
  • Advancements in Security Ink Technology: Technological innovations, such as the development of new ink formulations with enhanced security features (e.g., RFID-enabled inks and holographic inks), are expanding the applications of security inks. These innovations increase the demand for more sophisticated anti-counterfeiting solutions, propelling market growth.
  • Demand for Anti-Counterfeiting Solutions: With the rising concerns over product counterfeiting and fraud in various industries, including pharmaceuticals, consumer goods, and currency, there is a growing need for secure and tamper-evident packaging. Security inks, which include invisible, UV-reactive, and color-shifting inks, are crucial in ensuring product authenticity, driving demand for these innovative solutions.

Market Report Scope

Key Selling Points

  • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Security Ink 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 Security Ink 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
World Geography

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

Frequently Asked Questions


What is the future trend for security ink market?

Integration of multi-layered security features is expected to be the key market trends.

Which is the fastest growing segment based on application?

Based on application, the security labels segment is expected to witness the fastest growth during the forecast period.

Based on geography, which region held the largest share of the security ink market?

Based on geography, Asia Pacific held the largest share of the security ink market due to the high demand for security labels and technological advancements in security printing.

What are the driving factors impacting the security ink market ?

Rising threat of counterfeiting and fraud is driving the market growth.

What are the key players operating in the security ink market?

Chroma Inks USA, Chromatic Technologies Inc, INK TEC INC, Gans Ink and Supply, Kao Collins Corporation, Microtrace LLC, NAIGAI INK, SICPA HOLDING SA, Sun Chemical, and Gleitsmann Security Inks GmbH are the key players operating in the security ink market.

What is the expected CAGR of the Security Ink Market ?

The Security Ink Market is estimated to witness a CAGR of 4% 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
1.3.1 Security Ink Market - By Type
1.3.2 Security Ink Market - By Printing Method
1.3.3 Security Ink Market - By Application
1.3.4 Security Ink Market - By Region
1.3.4.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. SECURITY INK 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. SECURITY INK 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. SECURITY INK MARKET - GLOBAL MARKET ANALYSIS
6.1. SECURITY INK - GLOBAL MARKET OVERVIEW
6.2. SECURITY INK - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE

7. SECURITY INK MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. INVISIBLE
7.3.1. Overview
7.3.2. Invisible Market Forecast and Analysis
7.4. BIOMETRIC
7.4.1. Overview
7.4.2. Biometric Market Forecast and Analysis
7.5. FLUORESCENT
7.5.1. Overview
7.5.2. Fluorescent Market Forecast and Analysis
7.6. THERMOCHROMIC
7.6.1. Overview
7.6.2. Thermochromic Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. SECURITY INK MARKET - REVENUE AND FORECASTS TO 2028 - PRINTING METHOD
8.1. OVERVIEW
8.2. PRINTING METHOD MARKET FORECASTS AND ANALYSIS
8.3. LETTERPRESS
8.3.1. Overview
8.3.2. Letterpress Market Forecast and Analysis
8.4. OFFSET
8.4.1. Overview
8.4.2. Offset Market Forecast and Analysis
8.5. INTAGLIO
8.5.1. Overview
8.5.2. Intaglio Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. SECURITY INK MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. BANKNOTES
9.3.1. Overview
9.3.2. Banknotes Market Forecast and Analysis
9.4. OFFICIAL IDENTITY DOCUMENTS
9.4.1. Overview
9.4.2. Official identity documents Market Forecast and Analysis
9.5. TAX BANDEROLES
9.5.1. Overview
9.5.2. Tax banderoles Market Forecast and Analysis
9.6. SECURITY LABELS
9.6.1. Overview
9.6.2. Security labels Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis

10. SECURITY INK MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Security Ink Market Overview
10.1.2 North America Security Ink Market Forecasts and Analysis
10.1.3 North America Security Ink Market Forecasts and Analysis - By Type
10.1.4 North America Security Ink Market Forecasts and Analysis - By Printing Method
10.1.5 North America Security Ink Market Forecasts and Analysis - By Application
10.1.6 North America Security Ink Market Forecasts and Analysis - By Countries
10.1.6.1 United States Security Ink Market
10.1.6.1.1 United States Security Ink Market by Type
10.1.6.1.2 United States Security Ink Market by Printing Method
10.1.6.1.3 United States Security Ink Market by Application
10.1.6.2 Canada Security Ink Market
10.1.6.2.1 Canada Security Ink Market by Type
10.1.6.2.2 Canada Security Ink Market by Printing Method
10.1.6.2.3 Canada Security Ink Market by Application
10.1.6.3 Mexico Security Ink Market
10.1.6.3.1 Mexico Security Ink Market by Type
10.1.6.3.2 Mexico Security Ink Market by Printing Method
10.1.6.3.3 Mexico Security Ink Market by Application
10.2. EUROPE
10.2.1 Europe Security Ink Market Overview
10.2.2 Europe Security Ink Market Forecasts and Analysis
10.2.3 Europe Security Ink Market Forecasts and Analysis - By Type
10.2.4 Europe Security Ink Market Forecasts and Analysis - By Printing Method
10.2.5 Europe Security Ink Market Forecasts and Analysis - By Application
10.2.6 Europe Security Ink Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Security Ink Market
10.2.6.1.1 Germany Security Ink Market by Type
10.2.6.1.2 Germany Security Ink Market by Printing Method
10.2.6.1.3 Germany Security Ink Market by Application
10.2.6.2 France Security Ink Market
10.2.6.2.1 France Security Ink Market by Type
10.2.6.2.2 France Security Ink Market by Printing Method
10.2.6.2.3 France Security Ink Market by Application
10.2.6.3 Italy Security Ink Market
10.2.6.3.1 Italy Security Ink Market by Type
10.2.6.3.2 Italy Security Ink Market by Printing Method
10.2.6.3.3 Italy Security Ink Market by Application
10.2.6.4 United Kingdom Security Ink Market
10.2.6.4.1 United Kingdom Security Ink Market by Type
10.2.6.4.2 United Kingdom Security Ink Market by Printing Method
10.2.6.4.3 United Kingdom Security Ink Market by Application
10.2.6.5 Rest of Europe Security Ink Market
10.2.6.5.1 Rest of Europe Security Ink Market by Type
10.2.6.5.2 Rest of Europe Security Ink Market by Printing Method
10.2.6.5.3 Rest of Europe Security Ink Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Security Ink Market Overview
10.3.2 Asia-Pacific Security Ink Market Forecasts and Analysis
10.3.3 Asia-Pacific Security Ink Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Security Ink Market Forecasts and Analysis - By Printing Method
10.3.5 Asia-Pacific Security Ink Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Security Ink Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Security Ink Market
10.3.6.1.1 Australia Security Ink Market by Type
10.3.6.1.2 Australia Security Ink Market by Printing Method
10.3.6.1.3 Australia Security Ink Market by Application
10.3.6.2 China Security Ink Market
10.3.6.2.1 China Security Ink Market by Type
10.3.6.2.2 China Security Ink Market by Printing Method
10.3.6.2.3 China Security Ink Market by Application
10.3.6.3 India Security Ink Market
10.3.6.3.1 India Security Ink Market by Type
10.3.6.3.2 India Security Ink Market by Printing Method
10.3.6.3.3 India Security Ink Market by Application
10.3.6.4 Japan Security Ink Market
10.3.6.4.1 Japan Security Ink Market by Type
10.3.6.4.2 Japan Security Ink Market by Printing Method
10.3.6.4.3 Japan Security Ink Market by Application
10.3.6.5 South Korea Security Ink Market
10.3.6.5.1 South Korea Security Ink Market by Type
10.3.6.5.2 South Korea Security Ink Market by Printing Method
10.3.6.5.3 South Korea Security Ink Market by Application
10.3.6.6 Rest of Asia-Pacific Security Ink Market
10.3.6.6.1 Rest of Asia-Pacific Security Ink Market by Type
10.3.6.6.2 Rest of Asia-Pacific Security Ink Market by Printing Method
10.3.6.6.3 Rest of Asia-Pacific Security Ink Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Security Ink Market Overview
10.4.2 Middle East and Africa Security Ink Market Forecasts and Analysis
10.4.3 Middle East and Africa Security Ink Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Security Ink Market Forecasts and Analysis - By Printing Method
10.4.5 Middle East and Africa Security Ink Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Security Ink Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Security Ink Market
10.4.6.1.1 South Africa Security Ink Market by Type
10.4.6.1.2 South Africa Security Ink Market by Printing Method
10.4.6.1.3 South Africa Security Ink Market by Application
10.4.6.2 Saudi Arabia Security Ink Market
10.4.6.2.1 Saudi Arabia Security Ink Market by Type
10.4.6.2.2 Saudi Arabia Security Ink Market by Printing Method
10.4.6.2.3 Saudi Arabia Security Ink Market by Application
10.4.6.3 U.A.E Security Ink Market
10.4.6.3.1 U.A.E Security Ink Market by Type
10.4.6.3.2 U.A.E Security Ink Market by Printing Method
10.4.6.3.3 U.A.E Security Ink Market by Application
10.4.6.4 Rest of Middle East and Africa Security Ink Market
10.4.6.4.1 Rest of Middle East and Africa Security Ink Market by Type
10.4.6.4.2 Rest of Middle East and Africa Security Ink Market by Printing Method
10.4.6.4.3 Rest of Middle East and Africa Security Ink Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Security Ink Market Overview
10.5.2 South and Central America Security Ink Market Forecasts and Analysis
10.5.3 South and Central America Security Ink Market Forecasts and Analysis - By Type
10.5.4 South and Central America Security Ink Market Forecasts and Analysis - By Printing Method
10.5.5 South and Central America Security Ink Market Forecasts and Analysis - By Application
10.5.6 South and Central America Security Ink Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Security Ink Market
10.5.6.1.1 Brazil Security Ink Market by Type
10.5.6.1.2 Brazil Security Ink Market by Printing Method
10.5.6.1.3 Brazil Security Ink Market by Application
10.5.6.2 Argentina Security Ink Market
10.5.6.2.1 Argentina Security Ink Market by Type
10.5.6.2.2 Argentina Security Ink Market by Printing Method
10.5.6.2.3 Argentina Security Ink Market by Application
10.5.6.3 Rest of South and Central America Security Ink Market
10.5.6.3.1 Rest of South and Central America Security Ink Market by Type
10.5.6.3.2 Rest of South and Central America Security Ink Market by Printing Method
10.5.6.3.3 Rest of South and Central America Security Ink 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. SECURITY INK MARKET, KEY COMPANY PROFILES
12.1. CHROMA INKS
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. CHROMATIC TECHNOLOGIES INC.
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. INK TEC INC.
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. GANS INK AND SUPPLY
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. KAO COLLINS CORPORATION
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. MICROTRACE
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. NAIGAI INK MFG. CO. LTD
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. SICPA HOLDING SA
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. SUN CHEMICAL
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. THE CRONITE COMPANY
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

1. Chroma Inks
2. Chromatic Technologies Inc.
3. Ink Tec Inc.
4. Gans Ink and Supply
5. Kao Collins Corporation
6. Microtrace
7. Naigai Ink Mfg. Co. Ltd
8. SICPA HOLDING SA
9. Sun Chemical
10. The Cronite Company

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

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