Solar PV Mounting Systems Market Size & CAGR (2023-2031)
The Solar PV Mounting Systems Market is expected to register a CAGR of 8% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Product (Rooftop, Ground mounted). The report further presents an analysis based on Technology (Fixed, Tracking) and End User (Residential, Commercial, Utility) . The global analysis is further broken down at the regional level and major countries. The Report Offers the Value in US$ for the above analysis and segments.
Purpose of the ReportThe report Solar PV Mounting Systems 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.
Solar PV Mounting Systems Market Segmentation
Product- Rooftop
- Ground mounted
- Fixed
- Tracking
- Residential
- Commercial
- Utility
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Solar PV Mounting Systems Market Growth Drivers- Popularity of Renewable Energy: The need for renewable energy globally, mainly due to the surge in energy prices and awareness about climate change-related issues, boosts demand for the market.
- Upgrades in Technology: Technological advancements made on high-efficiency solar PV modules at low costs make solar power more feasible to be adopted economically, and therefore act as a growth driver.
- Government Incentives and Subsidies: Government policies promoting renewable energy, such as tax credits and subsidies, stimulate market growth.
- Bifaciality: Bifaciality is on the upswing wherein electricity-generating modules are on both sides. The Hinging Mounting System for such modules should be designed to optimize energy capture from both surfaces. Flexible solar modules, which are increasingly popular and nowadays applied in BIPV projects, require a lightweight and flexible system in mounting. An increase in the efficiency of solar monitoring systems for single-axis and dual-axis tracking will emerge, increasing demand for mounting structures that can adapt to these systems.
- Assembled Mounting: The assembly of modules and pre-assembled mounting structures will be made easier and cheaper. Thus, it will be expected that the energy storage systems integrated with the solar PV components shall require a robust yet flexible mounting solution that will support the assembly together in one location.
- Integration with Building-Integrated Photovoltaics (BIPV): BIPV systems, which integrate solar cells into building materials, will become more common.
- Government Policies: Positive government policies and incentives via tax credits and subsidies have accelerated the momentum toward high adoption levels of solar PV, thus driving the demand for mounting solutions.
- Increasing Rooftop Installations: As rooftop installations have been on the rising trend, particularly in urban cities, avenues are opened to apply innovative mounting solutions that are otherwise space-efficient.
- Commercial and Industrial Solar: Large-scale solar projects on commercial and industrial rooftops and ground-mounted systems will drive market expansion.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Solar PV Mounting Systems 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 Solar PV Mounting Systems 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
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
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.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The leading players in the Solar PV Mounting Systems Market are: Esdec BV, First Solar, IBC SOLAR AG, K2 Systems GmbH, Mounting Systems GmbH, Quick Mount PV, RBI Solar Inc., SCHLETTER SOLAR GMBH, UNIRAC Inc., Xiamen, Fasten Solar Technology Co.,Ltd.
The future trends of the Solar PV Mounting Systems Market are: Bifaciality, Assembled Mounting
Solar PV Mounting Systems Marketis expected to grow at a CAGR of 8% between 2023-2031
The driving factors impacting the Solar PV Mounting Systems Market are: Popularity of Renewable Energy, Upgrades in Technology
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Solar PV Mounting Systems Market - By Product
1.3.2Solar PV Mounting Systems Market - By Technology
1.3.3Solar PV Mounting Systems Market - By End-user
1.3.4Solar PV Mounting Systems Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.SOLAR PV MOUNTING SYSTEMS MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.SOLAR PV MOUNTING SYSTEMS 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.SOLAR PV MOUNTING SYSTEMS MARKET - GLOBAL MARKET ANALYSIS
6.1.SOLAR PV MOUNTING SYSTEMS - GLOBAL MARKET OVERVIEW
6.2.SOLAR PV MOUNTING SYSTEMS - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.SOLAR PV MOUNTING SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 " PRODUCT
7.1.OVERVIEW
7.2.PRODUCT MARKET FORECASTS AND ANALYSIS
7.3.ROOFTOP
7.3.1.Overview
7.3.2.Rooftop Market Forecast and Analysis
7.4.GROUND MOUNTED
7.4.1.Overview
7.4.2.Ground Mounted Market Forecast and Analysis
8.SOLAR PV MOUNTING SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 " TECHNOLOGY
8.1.OVERVIEW
8.2.TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3.FIXED
8.3.1.Overview
8.3.2.Fixed Market Forecast and Analysis
8.4.TRACKING
8.4.1.Overview
8.4.2.Tracking Market Forecast and Analysis
9.SOLAR PV MOUNTING SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 " END-USER
9.1.OVERVIEW
9.2.END-USER MARKET FORECASTS AND ANALYSIS
9.3.RESIDENTIAL
9.3.1.Overview
9.3.2.Residential Market Forecast and Analysis
9.4.COMMERCIAL
9.4.1.Overview
9.4.2.Commercial Market Forecast and Analysis
9.5.UTILITY
9.5.1.Overview
9.5.2.Utility Market Forecast and Analysis
10.SOLAR PV MOUNTING SYSTEMS MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Solar PV Mounting Systems Market Overview
10.1.2North America Solar PV Mounting Systems Market Forecasts and Analysis
10.1.3North America Solar PV Mounting Systems Market Forecasts and Analysis - By Product
10.1.4North America Solar PV Mounting Systems Market Forecasts and Analysis - By Technology
10.1.5North America Solar PV Mounting Systems Market Forecasts and Analysis - By End-user
10.1.6North America Solar PV Mounting Systems Market Forecasts and Analysis - By Countries
10.1.6.1United States Solar PV Mounting Systems Market
10.1.6.1.1United States Solar PV Mounting Systems Market by Product
10.1.6.1.2United States Solar PV Mounting Systems Market by Technology
10.1.6.1.3United States Solar PV Mounting Systems Market by End-user
10.1.6.2Canada Solar PV Mounting Systems Market
10.1.6.2.1Canada Solar PV Mounting Systems Market by Product
10.1.6.2.2Canada Solar PV Mounting Systems Market by Technology
10.1.6.2.3Canada Solar PV Mounting Systems Market by End-user
10.1.6.3Mexico Solar PV Mounting Systems Market
10.1.6.3.1Mexico Solar PV Mounting Systems Market by Product
10.1.6.3.2Mexico Solar PV Mounting Systems Market by Technology
10.1.6.3.3Mexico Solar PV Mounting Systems Market by End-user
10.2.EUROPE
10.2.1Europe Solar PV Mounting Systems Market Overview
10.2.2Europe Solar PV Mounting Systems Market Forecasts and Analysis
10.2.3Europe Solar PV Mounting Systems Market Forecasts and Analysis - By Product
10.2.4Europe Solar PV Mounting Systems Market Forecasts and Analysis - By Technology
10.2.5Europe Solar PV Mounting Systems Market Forecasts and Analysis - By End-user
10.2.6Europe Solar PV Mounting Systems Market Forecasts and Analysis - By Countries
10.2.6.1Germany Solar PV Mounting Systems Market
10.2.6.1.1Germany Solar PV Mounting Systems Market by Product
10.2.6.1.2Germany Solar PV Mounting Systems Market by Technology
10.2.6.1.3Germany Solar PV Mounting Systems Market by End-user
10.2.6.2France Solar PV Mounting Systems Market
10.2.6.2.1France Solar PV Mounting Systems Market by Product
10.2.6.2.2France Solar PV Mounting Systems Market by Technology
10.2.6.2.3France Solar PV Mounting Systems Market by End-user
10.2.6.3Italy Solar PV Mounting Systems Market
10.2.6.3.1Italy Solar PV Mounting Systems Market by Product
10.2.6.3.2Italy Solar PV Mounting Systems Market by Technology
10.2.6.3.3Italy Solar PV Mounting Systems Market by End-user
10.2.6.4United Kingdom Solar PV Mounting Systems Market
10.2.6.4.1United Kingdom Solar PV Mounting Systems Market by Product
10.2.6.4.2United Kingdom Solar PV Mounting Systems Market by Technology
10.2.6.4.3United Kingdom Solar PV Mounting Systems Market by End-user
10.2.6.5Russia Solar PV Mounting Systems Market
10.2.6.5.1Russia Solar PV Mounting Systems Market by Product
10.2.6.5.2Russia Solar PV Mounting Systems Market by Technology
10.2.6.5.3Russia Solar PV Mounting Systems Market by End-user
10.2.6.6Rest of Europe Solar PV Mounting Systems Market
10.2.6.6.1Rest of Europe Solar PV Mounting Systems Market by Product
10.2.6.6.2Rest of Europe Solar PV Mounting Systems Market by Technology
10.2.6.6.3Rest of Europe Solar PV Mounting Systems Market by End-user
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Solar PV Mounting Systems Market Overview
10.3.2Asia-Pacific Solar PV Mounting Systems Market Forecasts and Analysis
10.3.3Asia-Pacific Solar PV Mounting Systems Market Forecasts and Analysis - By Product
10.3.4Asia-Pacific Solar PV Mounting Systems Market Forecasts and Analysis - By Technology
10.3.5Asia-Pacific Solar PV Mounting Systems Market Forecasts and Analysis - By End-user
10.3.6Asia-Pacific Solar PV Mounting Systems Market Forecasts and Analysis - By Countries
10.3.6.1Australia Solar PV Mounting Systems Market
10.3.6.1.1Australia Solar PV Mounting Systems Market by Product
10.3.6.1.2Australia Solar PV Mounting Systems Market by Technology
10.3.6.1.3Australia Solar PV Mounting Systems Market by End-user
10.3.6.2China Solar PV Mounting Systems Market
10.3.6.2.1China Solar PV Mounting Systems Market by Product
10.3.6.2.2China Solar PV Mounting Systems Market by Technology
10.3.6.2.3China Solar PV Mounting Systems Market by End-user
10.3.6.3India Solar PV Mounting Systems Market
10.3.6.3.1India Solar PV Mounting Systems Market by Product
10.3.6.3.2India Solar PV Mounting Systems Market by Technology
10.3.6.3.3India Solar PV Mounting Systems Market by End-user
10.3.6.4Japan Solar PV Mounting Systems Market
10.3.6.4.1Japan Solar PV Mounting Systems Market by Product
10.3.6.4.2Japan Solar PV Mounting Systems Market by Technology
10.3.6.4.3Japan Solar PV Mounting Systems Market by End-user
10.3.6.5South Korea Solar PV Mounting Systems Market
10.3.6.5.1South Korea Solar PV Mounting Systems Market by Product
10.3.6.5.2South Korea Solar PV Mounting Systems Market by Technology
10.3.6.5.3South Korea Solar PV Mounting Systems Market by End-user
10.3.6.6Rest of Asia-Pacific Solar PV Mounting Systems Market
10.3.6.6.1Rest of Asia-Pacific Solar PV Mounting Systems Market by Product
10.3.6.6.2Rest of Asia-Pacific Solar PV Mounting Systems Market by Technology
10.3.6.6.3Rest of Asia-Pacific Solar PV Mounting Systems Market by End-user
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Solar PV Mounting Systems Market Overview
10.4.2Middle East and Africa Solar PV Mounting Systems Market Forecasts and Analysis
10.4.3Middle East and Africa Solar PV Mounting Systems Market Forecasts and Analysis - By Product
10.4.4Middle East and Africa Solar PV Mounting Systems Market Forecasts and Analysis - By Technology
10.4.5Middle East and Africa Solar PV Mounting Systems Market Forecasts and Analysis - By End-user
10.4.6Middle East and Africa Solar PV Mounting Systems Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Solar PV Mounting Systems Market
10.4.6.1.1South Africa Solar PV Mounting Systems Market by Product
10.4.6.1.2South Africa Solar PV Mounting Systems Market by Technology
10.4.6.1.3South Africa Solar PV Mounting Systems Market by End-user
10.4.6.2Saudi Arabia Solar PV Mounting Systems Market
10.4.6.2.1Saudi Arabia Solar PV Mounting Systems Market by Product
10.4.6.2.2Saudi Arabia Solar PV Mounting Systems Market by Technology
10.4.6.2.3Saudi Arabia Solar PV Mounting Systems Market by End-user
10.4.6.3U.A.E Solar PV Mounting Systems Market
10.4.6.3.1U.A.E Solar PV Mounting Systems Market by Product
10.4.6.3.2U.A.E Solar PV Mounting Systems Market by Technology
10.4.6.3.3U.A.E Solar PV Mounting Systems Market by End-user
10.4.6.4Rest of Middle East and Africa Solar PV Mounting Systems Market
10.4.6.4.1Rest of Middle East and Africa Solar PV Mounting Systems Market by Product
10.4.6.4.2Rest of Middle East and Africa Solar PV Mounting Systems Market by Technology
10.4.6.4.3Rest of Middle East and Africa Solar PV Mounting Systems Market by End-user
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Solar PV Mounting Systems Market Overview
10.5.2South and Central America Solar PV Mounting Systems Market Forecasts and Analysis
10.5.3South and Central America Solar PV Mounting Systems Market Forecasts and Analysis - By Product
10.5.4South and Central America Solar PV Mounting Systems Market Forecasts and Analysis - By Technology
10.5.5South and Central America Solar PV Mounting Systems Market Forecasts and Analysis - By End-user
10.5.6South and Central America Solar PV Mounting Systems Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Solar PV Mounting Systems Market
10.5.6.1.1Brazil Solar PV Mounting Systems Market by Product
10.5.6.1.2Brazil Solar PV Mounting Systems Market by Technology
10.5.6.1.3Brazil Solar PV Mounting Systems Market by End-user
10.5.6.2Argentina Solar PV Mounting Systems Market
10.5.6.2.1Argentina Solar PV Mounting Systems Market by Product
10.5.6.2.2Argentina Solar PV Mounting Systems Market by Technology
10.5.6.2.3Argentina Solar PV Mounting Systems Market by End-user
10.5.6.3Rest of South and Central America Solar PV Mounting Systems Market
10.5.6.3.1Rest of South and Central America Solar PV Mounting Systems Market by Product
10.5.6.3.2Rest of South and Central America Solar PV Mounting Systems Market by Technology
10.5.6.3.3Rest of South and Central America Solar PV Mounting Systems Market by End-user
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.SOLAR PV MOUNTING SYSTEMS MARKET, KEY COMPANY PROFILES
12.1.ESDEC BV
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.FIRST SOLAR
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.IBC SOLAR AG
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.K2 SYSTEMS GMBH
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.MOUNTING SYSTEMS GMBH
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.QUICK MOUNT PV
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.RBI SOLAR INC.
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.SCHLETTER SOLAR GMBH
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.UNIRAC 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.XIAMEN FASTEN SOLAR TECHNOLOGY CO.,LTD.
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.Esdec BV
2.First Solar
3.IBC SOLAR AG
4.K2 Systems GmbH
5.Mounting Systems GmbH
6.Quick Mount PV
7.RBI Solar Inc.
8.SCHLETTER SOLAR GMBH
9.UNIRAC Inc.
10.Xiamen Fasten Solar Technology Co.,Ltd.
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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