The side view camera system market is expected to register a CAGR of 35.9% during 2023–2031. The increasing adoption of luxury electric vehicles is one of the major trends in the side-view camera system market.
Side View Camera System Market Analysis
- The growth in automotive production across different regions is one of the major factors supporting the market growth for side view camera systems worldwide. Further, the rising commercial vehicle production is another major factor fuelling the side view camera system market growth. This is due to the boom in transportation and logistics sectors that has been witnessing a strong rise in terms of the demand for commercial vehicles such as trucks and trailers. This is further propelling the demand for side-view camera systems worldwide.
Side View Camera System Market Overview
- The global side view camera system market is likely to witness significant growth in the coming years. This is mainly due to the growing production of automobiles including passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). Moreover, the growth production of premium electric vehicles across different regions is another major factor likely to provide new opportunities for market vendors in the coming years.
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Side View Camera System Market: Strategic Insights
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Side View Camera System Market: Strategic Insights
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Side View Camera System Market Drivers and Opportunities
Growing Sales of Luxury Cars
- Overall, the side view camera system market is increasing at a significant rate due to a higher rate of passenger cars. This is mainly due to the growing demand for vehicles among the upper-middle class and upper population worldwide which is also propelled by the rising disposable income per individual across different regions.
- Further, according to The Insight Partners’ analysis, the total luxury vehicles sold in 2021 worldwide was around 151.3 thousand units which further recorded a sale of around 184.3 thousand units in 2023. Moreover, in 2024, the sales of luxury cars are likely to hit a figure of around 187 thousand units which is further likely to drive the demand for side view camera systems market globally.
Demand from Vehicle Upgrades
- Most vehicle owners across different regions have their preferences for making their vehicles according to their comfort and usage. Another factor includes the constantly rising global fleet and sales of passenger and commercial vehicles. This factor is pushing the adoption of side-view camera systems among different end users of vehicles worldwide. Moreover, the future growth for side view camera systems is also expected to be impacted positively by the demand generated from the aftermarket and demand generated from the need to upgrade the vehicle features among the end users.
Side View Camera System Market Report Segmentation Analysis
Key segments that contributed to the derivation of the side view camera system market analysis are type, component, and vehicle type.
- Based on type, the side view camera system market is segmented into single-camera systems and multi-camera systems.
- Based on vehicle type, the side view camera system market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles.
- Based on components, the side view camera system market is segmented into ECU, camera, and display.
Side View Camera System Market Share Analysis by Geography
- Side View Camera System Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering side view camera system market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the side view camera system market in these regions.
Side View Camera System Market Report Scope
Side View Camera System Market News and Recent Developments
The side view camera system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the side view camera system market are listed below:
- Pro-Vision, a leading provider of mobile video solutions, is excited to announce the launch of their AHD Mirror-Mount Side Camera. Designed specifically for trucks with boxes wider than the cab, this advanced camera system extends visibility and significantly reduces blind spots, improving safety and mobility on the road. (Source: Pro-Vision, Company Website, July 2023)
- Motive, the leader in Automated Operations for the physical economy, today announced the launch of its AI Omnicam, the first ever AI-enabled camera built for side, rear, passenger, and cargo monitoring. The AI Omnicam, when paired with Motive’s market-leading AI Dashcam, will give businesses that operate commercial vehicles a full 360° view of their vehicle, its interior, and its surroundings to improve road and job site monitoring and safety, investigate and combat potential fraudulent claims, and resolve disputes over transportation and handling of valuable cargo and goods. (Source: Motive, Company Website, June 2023)
Side View Camera System Market Report Coverage and Deliverables
The “Side View Camera System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Side view camera system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Side view camera system market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST analysis
- Side view camera system market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the side view camera system market
- Detailed company profiles
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 global side view camera system market is expected to grow at a CAGR of 35.9% during the forecast period 2023 - 2031.
Growing sales of luxury cars and increasing upgrades of the existing fleet of vehicles worldwide are some of the major factors driving the side view camera system market.
The increasing adoption of luxury electric vehicles in the coming years is one of the major future trends for the market.
The leading players operating in the side view camera system market are Magna International Inc, Mitsubishi Electric, Continental AG, Panasonic Corporation, Kyocera Corporation, Robert Bosch GmbH, Gentex Corporation, Denso Corporation, Valeo, Hyundai Mobis, Texas Instruments Inc, Kappa Optronics GmbH, and SL Corporation.
The report can be delivered in PDF/PPT format; we can also share an Excel dataset based on the request.
Some of the customization options available based on request are 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.
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 Side View Camera System Market - By Type
1.3.2 Side View Camera System Market - By Component
1.3.3 Side View Camera System Market - By Vehicle Type
1.3.4 Side View Camera System Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SIDE VIEW CAMERA SYSTEM MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. SIDE VIEW CAMERA SYSTEM MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. SIDE VIEW CAMERA SYSTEM MARKET - GLOBAL MARKET ANALYSIS
6.1. SIDE VIEW CAMERA SYSTEM - GLOBAL MARKET OVERVIEW
6.2. SIDE VIEW CAMERA SYSTEM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SIDE VIEW CAMERA SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. SINGLE CAMERA SYSTEM
7.3.1. Overview
7.3.2. Single Camera System Market Forecast and Analysis
7.4. MULTI CAMERA SYSTEM
7.4.1. Overview
7.4.2. Multi Camera System Market Forecast and Analysis
8. SIDE VIEW CAMERA SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
8.1. OVERVIEW
8.2. COMPONENT MARKET FORECASTS AND ANALYSIS
8.3. ECU
8.3.1. Overview
8.3.2. ECU Market Forecast and Analysis
8.4. CAMERA
8.4.1. Overview
8.4.2. Camera Market Forecast and Analysis
8.5. DISPLAY
8.5.1. Overview
8.5.2. Display Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. SIDE VIEW CAMERA SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
9.1. OVERVIEW
9.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
9.3. PASSENGER CARS
9.3.1. Overview
9.3.2. Passenger Cars Market Forecast and Analysis
9.4. LIGHT COMMERCIAL VEHICLES
9.4.1. Overview
9.4.2. Light Commercial Vehicles Market Forecast and Analysis
9.5. HEAVY COMMERCIAL VEHICLES
9.5.1. Overview
9.5.2. Heavy Commercial Vehicles Market Forecast and Analysis
10. SIDE VIEW CAMERA SYSTEM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Side View Camera System Market Overview
10.1.2 North America Side View Camera System Market Forecasts and Analysis
10.1.3 North America Side View Camera System Market Forecasts and Analysis - By Type
10.1.4 North America Side View Camera System Market Forecasts and Analysis - By Component
10.1.5 North America Side View Camera System Market Forecasts and Analysis - By Vehicle Type
10.1.6 North America Side View Camera System Market Forecasts and Analysis - By Countries
10.1.6.1 United States Side View Camera System Market
10.1.6.1.1 United States Side View Camera System Market by Type
10.1.6.1.2 United States Side View Camera System Market by Component
10.1.6.1.3 United States Side View Camera System Market by Vehicle Type
10.1.6.2 Canada Side View Camera System Market
10.1.6.2.1 Canada Side View Camera System Market by Type
10.1.6.2.2 Canada Side View Camera System Market by Component
10.1.6.2.3 Canada Side View Camera System Market by Vehicle Type
10.1.6.3 Mexico Side View Camera System Market
10.1.6.3.1 Mexico Side View Camera System Market by Type
10.1.6.3.2 Mexico Side View Camera System Market by Component
10.1.6.3.3 Mexico Side View Camera System Market by Vehicle Type
10.2. EUROPE
10.2.1 Europe Side View Camera System Market Overview
10.2.2 Europe Side View Camera System Market Forecasts and Analysis
10.2.3 Europe Side View Camera System Market Forecasts and Analysis - By Type
10.2.4 Europe Side View Camera System Market Forecasts and Analysis - By Component
10.2.5 Europe Side View Camera System Market Forecasts and Analysis - By Vehicle Type
10.2.6 Europe Side View Camera System Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Side View Camera System Market
10.2.6.1.1 Germany Side View Camera System Market by Type
10.2.6.1.2 Germany Side View Camera System Market by Component
10.2.6.1.3 Germany Side View Camera System Market by Vehicle Type
10.2.6.2 France Side View Camera System Market
10.2.6.2.1 France Side View Camera System Market by Type
10.2.6.2.2 France Side View Camera System Market by Component
10.2.6.2.3 France Side View Camera System Market by Vehicle Type
10.2.6.3 Italy Side View Camera System Market
10.2.6.3.1 Italy Side View Camera System Market by Type
10.2.6.3.2 Italy Side View Camera System Market by Component
10.2.6.3.3 Italy Side View Camera System Market by Vehicle Type
10.2.6.4 United Kingdom Side View Camera System Market
10.2.6.4.1 United Kingdom Side View Camera System Market by Type
10.2.6.4.2 United Kingdom Side View Camera System Market by Component
10.2.6.4.3 United Kingdom Side View Camera System Market by Vehicle Type
10.2.6.5 Russia Side View Camera System Market
10.2.6.5.1 Russia Side View Camera System Market by Type
10.2.6.5.2 Russia Side View Camera System Market by Component
10.2.6.5.3 Russia Side View Camera System Market by Vehicle Type
10.2.6.6 Rest of Europe Side View Camera System Market
10.2.6.6.1 Rest of Europe Side View Camera System Market by Type
10.2.6.6.2 Rest of Europe Side View Camera System Market by Component
10.2.6.6.3 Rest of Europe Side View Camera System Market by Vehicle Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Side View Camera System Market Overview
10.3.2 Asia-Pacific Side View Camera System Market Forecasts and Analysis
10.3.3 Asia-Pacific Side View Camera System Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Side View Camera System Market Forecasts and Analysis - By Component
10.3.5 Asia-Pacific Side View Camera System Market Forecasts and Analysis - By Vehicle Type
10.3.6 Asia-Pacific Side View Camera System Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Side View Camera System Market
10.3.6.1.1 Australia Side View Camera System Market by Type
10.3.6.1.2 Australia Side View Camera System Market by Component
10.3.6.1.3 Australia Side View Camera System Market by Vehicle Type
10.3.6.2 China Side View Camera System Market
10.3.6.2.1 China Side View Camera System Market by Type
10.3.6.2.2 China Side View Camera System Market by Component
10.3.6.2.3 China Side View Camera System Market by Vehicle Type
10.3.6.3 India Side View Camera System Market
10.3.6.3.1 India Side View Camera System Market by Type
10.3.6.3.2 India Side View Camera System Market by Component
10.3.6.3.3 India Side View Camera System Market by Vehicle Type
10.3.6.4 Japan Side View Camera System Market
10.3.6.4.1 Japan Side View Camera System Market by Type
10.3.6.4.2 Japan Side View Camera System Market by Component
10.3.6.4.3 Japan Side View Camera System Market by Vehicle Type
10.3.6.5 South Korea Side View Camera System Market
10.3.6.5.1 South Korea Side View Camera System Market by Type
10.3.6.5.2 South Korea Side View Camera System Market by Component
10.3.6.5.3 South Korea Side View Camera System Market by Vehicle Type
10.3.6.6 Rest of Asia-Pacific Side View Camera System Market
10.3.6.6.1 Rest of Asia-Pacific Side View Camera System Market by Type
10.3.6.6.2 Rest of Asia-Pacific Side View Camera System Market by Component
10.3.6.6.3 Rest of Asia-Pacific Side View Camera System Market by Vehicle Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Side View Camera System Market Overview
10.4.2 Middle East and Africa Side View Camera System Market Forecasts and Analysis
10.4.3 Middle East and Africa Side View Camera System Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Side View Camera System Market Forecasts and Analysis - By Component
10.4.5 Middle East and Africa Side View Camera System Market Forecasts and Analysis - By Vehicle Type
10.4.6 Middle East and Africa Side View Camera System Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Side View Camera System Market
10.4.6.1.1 South Africa Side View Camera System Market by Type
10.4.6.1.2 South Africa Side View Camera System Market by Component
10.4.6.1.3 South Africa Side View Camera System Market by Vehicle Type
10.4.6.2 Saudi Arabia Side View Camera System Market
10.4.6.2.1 Saudi Arabia Side View Camera System Market by Type
10.4.6.2.2 Saudi Arabia Side View Camera System Market by Component
10.4.6.2.3 Saudi Arabia Side View Camera System Market by Vehicle Type
10.4.6.3 U.A.E Side View Camera System Market
10.4.6.3.1 U.A.E Side View Camera System Market by Type
10.4.6.3.2 U.A.E Side View Camera System Market by Component
10.4.6.3.3 U.A.E Side View Camera System Market by Vehicle Type
10.4.6.4 Rest of Middle East and Africa Side View Camera System Market
10.4.6.4.1 Rest of Middle East and Africa Side View Camera System Market by Type
10.4.6.4.2 Rest of Middle East and Africa Side View Camera System Market by Component
10.4.6.4.3 Rest of Middle East and Africa Side View Camera System Market by Vehicle Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Side View Camera System Market Overview
10.5.2 South and Central America Side View Camera System Market Forecasts and Analysis
10.5.3 South and Central America Side View Camera System Market Forecasts and Analysis - By Type
10.5.4 South and Central America Side View Camera System Market Forecasts and Analysis - By Component
10.5.5 South and Central America Side View Camera System Market Forecasts and Analysis - By Vehicle Type
10.5.6 South and Central America Side View Camera System Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Side View Camera System Market
10.5.6.1.1 Brazil Side View Camera System Market by Type
10.5.6.1.2 Brazil Side View Camera System Market by Component
10.5.6.1.3 Brazil Side View Camera System Market by Vehicle Type
10.5.6.2 Argentina Side View Camera System Market
10.5.6.2.1 Argentina Side View Camera System Market by Type
10.5.6.2.2 Argentina Side View Camera System Market by Component
10.5.6.2.3 Argentina Side View Camera System Market by Vehicle Type
10.5.6.3 Rest of South and Central America Side View Camera System Market
10.5.6.3.1 Rest of South and Central America Side View Camera System Market by Type
10.5.6.3.2 Rest of South and Central America Side View Camera System Market by Component
10.5.6.3.3 Rest of South and Central America Side View Camera System Market by Vehicle Type
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. SIDE VIEW CAMERA SYSTEM MARKET, KEY COMPANY PROFILES
12.1. CONTINENTAL AG
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. DENSO 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. GENTEX CORPORATION
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. HYUNDAI MOBIS CO., LTD.
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. KYOCERA 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. MAGNA INTERNATIONAL INC.
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. ROBERT BOSCH GMBH
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. SAMVARDHANA MOTHERSON GROUP
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. STONERIDGE, INC.
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. VALEO SA
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.Continental AG
2.Denso Corporation
3.Gentex Corporation
4.Hyundai Mobis Co., Ltd.
5.KYOCERA Corporation
6.Magna International Inc.
7.Robert Bosch GmbH
8.Samvardhana Motherson Group
9.Stoneridge, Inc.
10.Valeo SA
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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