Smart Appliances Market Strategies and Share 2031
MARKET INTRODUCTION
Rising demand for kitchen as well as home appliances has resulted in increased consumption of electricity, thereby, possessing higher pressure on the electricity and power suppliers to increase the supply. Advent of smart appliances have significantly reduced the electricity consumption. In the coming years as the energy cost are projected to surge, the ability of the smart appliances to function at relatively low electricity consumption is expected to increase its demand in the coming years.
MARKET DYNAMICS
Exponential development and innovation in the home electronics and communications devices is expected to significantly drive the market for smart appliances market. The smart appliance market in the coming years is expected to experience growth in interoperability of the appliances and devices. For instance use of voice control technology for altering settings in a refrigerator.
MARKET SCOPE
The "Global Smart Appliances Market Analysis to 2031" is a specialized and in-depth study of the Smart Appliances industry with a special focus on the global market trend analysis. The report aims to provide an overview of Smart Appliances market with detailed market segmentation by product, services, technology and geography. The global Smart Appliances market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Smart Appliances market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global Smart Appliances market is segmented on the basis of product, services and technology. Based product, the market is segmented as Home Appliances and kitchen Appliances. The home appliances segmented is further classified into smart lighting, smart washing machine, smart security devices, smart vacuum cleaners, smart TV, and others. Whereas by kitchen appliances the market is segmented into smart dishwasher, smart refrigerator, smart cooktop, smart oven, and others. On the basis of the services the market is segmented as managed and professional services. The market on the basis of technology smart appliances market is classified as Wi-Fi, ZigBee, RFID, Bluetooth, and Others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Smart Appliances market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Smart Appliances market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Smart Appliances market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the Smart Appliances market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Smart Appliances market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Smart Appliances market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Smart Appliances market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the Smart Appliances market in these regions.
MARKET PLAYERS
The reports cover key developments in the Smart Appliances 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 expansion of business and customer base of market players. The market payers from Smart Appliances market are anticipated to lucrative growth opportunities in the future with the rising demand for Smart Appliances in the global market. Below mentioned is the list of few companies engaged in the Smart Appliances market.
The report also includes the profiles of key Smart Appliances companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- BSH Hausgerate GmbH
- Electrolux AB
- General Electric Co.
- Haier Co. Ltd.
- LG Inc.
- Miele & Cie. KG
- Panasonic Corp.
- Philips N.V.
- Samsung Electronics Co. Ltd.
- Whirlpool Corp.
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.
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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.
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 Smart Appliances Market - By Product
1.3.2 Smart Appliances Market - By Services
1.3.3 Smart Appliances Market - By Technology
1.3.4 Smart Appliances Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. SMART APPLIANCES 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. SMART APPLIANCES 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. SMART APPLIANCES MARKET - GLOBAL MARKET ANALYSIS
6.1. SMART APPLIANCES - GLOBAL MARKET OVERVIEW
6.2. SMART APPLIANCES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SMART APPLIANCES MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. HOME APPLIANCES
7.3.1. Overview
7.3.2. Home Appliances Market Forecast and Analysis
7.3.3. Smart Lighting Market
7.3.3.1. Overview
7.3.3.2. Smart Lighting Market Forecast and Analysis
7.3.4. Smart Washing Machine Market
7.3.4.1. Overview
7.3.4.2. Smart Washing Machine Market Forecast and Analysis
7.3.5. Smart Security Devices Market
7.3.5.1. Overview
7.3.5.2. Smart Security Devices Market Forecast and Analysis
7.3.6. Smart Vaccum Cleaners Market
7.3.6.1. Overview
7.3.6.2. Smart Vaccum Cleaners Market Forecast and Analysis
7.3.7. Smart TV Market
7.3.7.1. Overview
7.3.7.2. Smart TV Market Forecast and Analysis
7.3.8. Others Market
7.3.8.1. Overview
7.3.8.2. Others Market Forecast and Analysis
7.4. KITCHEN APPLIANCES
7.4.1. Overview
7.4.2. Kitchen Appliances Market Forecast and Analysis
7.4.3. Smart Dishwasher Market
7.4.3.1. Overview
7.4.3.2. Smart Dishwasher Market Forecast and Analysis
7.4.4. Smart Refrigerator Market
7.4.4.1. Overview
7.4.4.2. Smart Refrigerator Market Forecast and Analysis
7.4.5. Smart Cook-top Market
7.4.5.1. Overview
7.4.5.2. Smart Cook-top Market Forecast and Analysis
7.4.6. Smart Oven Market
7.4.6.1. Overview
7.4.6.2. Smart Oven Market Forecast and Analysis
7.4.7. Others Market
7.4.7.1. Overview
7.4.7.2. Others Market Forecast and Analysis
8. SMART APPLIANCES MARKET - REVENUE AND FORECASTS TO 2028 - SERVICES
8.1. OVERVIEW
8.2. SERVICES MARKET FORECASTS AND ANALYSIS
8.3. PROFESSIONAL SERVICES
8.3.1. Overview
8.3.2. Professional Services Market Forecast and Analysis
8.4. MANAGED SERVICES
8.4.1. Overview
8.4.2. Managed Services Market Forecast and Analysis
9. SMART APPLIANCES MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
9.1. OVERVIEW
9.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
9.3. WI-FI
9.3.1. Overview
9.3.2. Wi-Fi Market Forecast and Analysis
9.4. ZIGBEE
9.4.1. Overview
9.4.2. ZigBee Market Forecast and Analysis
9.5. RFID
9.5.1. Overview
9.5.2. RFID Market Forecast and Analysis
9.6. BLUETOOTH
9.6.1. Overview
9.6.2. Bluetooth Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. SMART APPLIANCES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Smart Appliances Market Overview
10.1.2 North America Smart Appliances Market Forecasts and Analysis
10.1.3 North America Smart Appliances Market Forecasts and Analysis - By Product
10.1.4 North America Smart Appliances Market Forecasts and Analysis - By Services
10.1.5 North America Smart Appliances Market Forecasts and Analysis - By Technology
10.1.6 North America Smart Appliances Market Forecasts and Analysis - By Countries
10.1.6.1 United States Smart Appliances Market
10.1.6.1.1 United States Smart Appliances Market by Product
10.1.6.1.2 United States Smart Appliances Market by Services
10.1.6.1.3 United States Smart Appliances Market by Technology
10.1.6.2 Canada Smart Appliances Market
10.1.6.2.1 Canada Smart Appliances Market by Product
10.1.6.2.2 Canada Smart Appliances Market by Services
10.1.6.2.3 Canada Smart Appliances Market by Technology
10.1.6.3 Mexico Smart Appliances Market
10.1.6.3.1 Mexico Smart Appliances Market by Product
10.1.6.3.2 Mexico Smart Appliances Market by Services
10.1.6.3.3 Mexico Smart Appliances Market by Technology
10.2. EUROPE
10.2.1 Europe Smart Appliances Market Overview
10.2.2 Europe Smart Appliances Market Forecasts and Analysis
10.2.3 Europe Smart Appliances Market Forecasts and Analysis - By Product
10.2.4 Europe Smart Appliances Market Forecasts and Analysis - By Services
10.2.5 Europe Smart Appliances Market Forecasts and Analysis - By Technology
10.2.6 Europe Smart Appliances Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Smart Appliances Market
10.2.6.1.1 Germany Smart Appliances Market by Product
10.2.6.1.2 Germany Smart Appliances Market by Services
10.2.6.1.3 Germany Smart Appliances Market by Technology
10.2.6.2 France Smart Appliances Market
10.2.6.2.1 France Smart Appliances Market by Product
10.2.6.2.2 France Smart Appliances Market by Services
10.2.6.2.3 France Smart Appliances Market by Technology
10.2.6.3 Italy Smart Appliances Market
10.2.6.3.1 Italy Smart Appliances Market by Product
10.2.6.3.2 Italy Smart Appliances Market by Services
10.2.6.3.3 Italy Smart Appliances Market by Technology
10.2.6.4 United Kingdom Smart Appliances Market
10.2.6.4.1 United Kingdom Smart Appliances Market by Product
10.2.6.4.2 United Kingdom Smart Appliances Market by Services
10.2.6.4.3 United Kingdom Smart Appliances Market by Technology
10.2.6.5 Russia Smart Appliances Market
10.2.6.5.1 Russia Smart Appliances Market by Product
10.2.6.5.2 Russia Smart Appliances Market by Services
10.2.6.5.3 Russia Smart Appliances Market by Technology
10.2.6.6 Rest of Europe Smart Appliances Market
10.2.6.6.1 Rest of Europe Smart Appliances Market by Product
10.2.6.6.2 Rest of Europe Smart Appliances Market by Services
10.2.6.6.3 Rest of Europe Smart Appliances Market by Technology
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Smart Appliances Market Overview
10.3.2 Asia-Pacific Smart Appliances Market Forecasts and Analysis
10.3.3 Asia-Pacific Smart Appliances Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Smart Appliances Market Forecasts and Analysis - By Services
10.3.5 Asia-Pacific Smart Appliances Market Forecasts and Analysis - By Technology
10.3.6 Asia-Pacific Smart Appliances Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Smart Appliances Market
10.3.6.1.1 Australia Smart Appliances Market by Product
10.3.6.1.2 Australia Smart Appliances Market by Services
10.3.6.1.3 Australia Smart Appliances Market by Technology
10.3.6.2 China Smart Appliances Market
10.3.6.2.1 China Smart Appliances Market by Product
10.3.6.2.2 China Smart Appliances Market by Services
10.3.6.2.3 China Smart Appliances Market by Technology
10.3.6.3 India Smart Appliances Market
10.3.6.3.1 India Smart Appliances Market by Product
10.3.6.3.2 India Smart Appliances Market by Services
10.3.6.3.3 India Smart Appliances Market by Technology
10.3.6.4 Japan Smart Appliances Market
10.3.6.4.1 Japan Smart Appliances Market by Product
10.3.6.4.2 Japan Smart Appliances Market by Services
10.3.6.4.3 Japan Smart Appliances Market by Technology
10.3.6.5 South Korea Smart Appliances Market
10.3.6.5.1 South Korea Smart Appliances Market by Product
10.3.6.5.2 South Korea Smart Appliances Market by Services
10.3.6.5.3 South Korea Smart Appliances Market by Technology
10.3.6.6 Rest of Asia-Pacific Smart Appliances Market
10.3.6.6.1 Rest of Asia-Pacific Smart Appliances Market by Product
10.3.6.6.2 Rest of Asia-Pacific Smart Appliances Market by Services
10.3.6.6.3 Rest of Asia-Pacific Smart Appliances Market by Technology
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Smart Appliances Market Overview
10.4.2 Middle East and Africa Smart Appliances Market Forecasts and Analysis
10.4.3 Middle East and Africa Smart Appliances Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Smart Appliances Market Forecasts and Analysis - By Services
10.4.5 Middle East and Africa Smart Appliances Market Forecasts and Analysis - By Technology
10.4.6 Middle East and Africa Smart Appliances Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Smart Appliances Market
10.4.6.1.1 South Africa Smart Appliances Market by Product
10.4.6.1.2 South Africa Smart Appliances Market by Services
10.4.6.1.3 South Africa Smart Appliances Market by Technology
10.4.6.2 Saudi Arabia Smart Appliances Market
10.4.6.2.1 Saudi Arabia Smart Appliances Market by Product
10.4.6.2.2 Saudi Arabia Smart Appliances Market by Services
10.4.6.2.3 Saudi Arabia Smart Appliances Market by Technology
10.4.6.3 U.A.E Smart Appliances Market
10.4.6.3.1 U.A.E Smart Appliances Market by Product
10.4.6.3.2 U.A.E Smart Appliances Market by Services
10.4.6.3.3 U.A.E Smart Appliances Market by Technology
10.4.6.4 Rest of Middle East and Africa Smart Appliances Market
10.4.6.4.1 Rest of Middle East and Africa Smart Appliances Market by Product
10.4.6.4.2 Rest of Middle East and Africa Smart Appliances Market by Services
10.4.6.4.3 Rest of Middle East and Africa Smart Appliances Market by Technology
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Smart Appliances Market Overview
10.5.2 South and Central America Smart Appliances Market Forecasts and Analysis
10.5.3 South and Central America Smart Appliances Market Forecasts and Analysis - By Product
10.5.4 South and Central America Smart Appliances Market Forecasts and Analysis - By Services
10.5.5 South and Central America Smart Appliances Market Forecasts and Analysis - By Technology
10.5.6 South and Central America Smart Appliances Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Smart Appliances Market
10.5.6.1.1 Brazil Smart Appliances Market by Product
10.5.6.1.2 Brazil Smart Appliances Market by Services
10.5.6.1.3 Brazil Smart Appliances Market by Technology
10.5.6.2 Argentina Smart Appliances Market
10.5.6.2.1 Argentina Smart Appliances Market by Product
10.5.6.2.2 Argentina Smart Appliances Market by Services
10.5.6.2.3 Argentina Smart Appliances Market by Technology
10.5.6.3 Rest of South and Central America Smart Appliances Market
10.5.6.3.1 Rest of South and Central America Smart Appliances Market by Product
10.5.6.3.2 Rest of South and Central America Smart Appliances Market by Services
10.5.6.3.3 Rest of South and Central America Smart Appliances Market by Technology
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. SMART APPLIANCES MARKET, KEY COMPANY PROFILES
12.1. BSH HAUSGERATE GMBH
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. ELECTROLUX AB
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. GENERAL ELECTRIC CO.
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. HAIER 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. LG INC.
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. MIELE AND CIE. KG
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. PANASONIC CORP.
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. PHILIPS N.V.
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. SAMSUNG ELECTRONICS CO. LTD.
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. WHIRLPOOL CORP.
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. BSH Hausgerate GmbH
2. Electrolux AB
3. General Electric Co.
4. Haier Co. Ltd.
5. LG Inc.
6. Miele and Cie. KG
7. Panasonic Corp.
8. Philips N. V.
9. Samsung Electronics Co. Ltd.
10. Whirlpool Corp.
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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