The Static VAR Compensator Market is expected to register a CAGR of 5.3% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The Static VAR Compensator Market report covers analysis by Type (Thyristor-Based, MCR-Based); Component (Power Electronic Device, Harmonic Filter, Thyristor, Reactor, Capacitor Bank, GIS Switchgear, Others); Vertical (Electric Utility, Renewable, Railway, Industrial, Oil and Gas). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Static VAR Compensator 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.
Static VAR Compensator Market Segmentation
Type- Thyristor-Based
- MCR-Based
- Power Electronic Device
- Harmonic Filter
- Thyristor
- Reactor
- Capacitor Bank
- GIS Switchgear
- Electric Utility
- Renewable
- Railway
- Industrial
- Oil and Gas
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Static VAR Compensator Market Growth Drivers- Increasing demand for grid stability: The integration of renewable energy sources like wind and solar power into the grid can cause fluctuations in voltage and frequency. SVCs are crucial for maintaining grid stability by quickly compensating for reactive power variations.
- Growing demand for power quality: SVCs play a vital role in improving power quality by mitigating voltage sags, swells, and harmonics, which are detrimental to sensitive electronic equipment.
- Expansion of power transmission and distribution networks: The expansion of power grids to meet the growing demand for electricity is driving the need for SVCs to enhance grid reliability and efficiency.
- Advancements in power electronics: The development of more efficient and cost-effective power electronic components will enable the development of more compact and reliable SVCs.
- Integration of smart grid technologies: SVCs will be increasingly integrated with smart grid technologies, such as phasor measurement units (PMUs) and advanced control systems, to enhance grid flexibility and responsiveness.
- Focus on modular and flexible designs: The demand for modular and flexible SVC designs will increase to accommodate the evolving needs of the grid and facilitate easier installation and maintenance.
- Emerging markets: The growing demand for electricity in developing countries presents significant opportunities for the SVC market, driven by the need to modernize and expand power infrastructure.
- Microgrid applications: SVCs are increasingly being used in microgrid applications to enhance grid stability and reliability in distributed energy systems.
- Integration with energy storage systems: The integration of SVCs with energy storage systems, such as batteries, can enhance grid stability and provide ancillary services, such as frequency regulation and voltage support.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Static VAR Compensator 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 Static VAR Compensator 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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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
The report can be delivered in PDF/PPT format; we can also share 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.
Key companies of this market are: ABB, American Superconductor, Eaton Corporation Inc, General Electric Company, HYOSUNG HEAVY INDUSTRIES, JEMA Energy, Mitsubishi Electric Corporation, NR Electric Co Ltd, Rongxin Power Electronic Co Ltd
Key future trends in this market are growing power demand, shift toward renewable energy, and technological advancements.
The Static VAR Compensator Market is estimated to witness a CAGR of 5.3% from 2023 to 2031.
The major factors driving the static VAR compensator market are the increased demand for power quality in electric grid systems, the integration of renewable energy sources, and advancements in power electronics.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1Static VAR Compensator Market - By Type
1.3.2Static VAR Compensator Market - By Component
1.3.3Static VAR Compensator Market - By Vertical
1.3.4Static VAR Compensator Market - By Region
1.3.4.1By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4.STATIC VAR COMPENSATOR 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.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.STATIC VAR COMPENSATOR 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.STATIC VAR COMPENSATOR MARKET - GLOBAL MARKET ANALYSIS
6.1.STATIC VAR COMPENSATOR - GLOBAL MARKET OVERVIEW
6.2.STATIC VAR COMPENSATOR - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.STATIC VAR COMPENSATOR MARKET - REVENUE AND FORECASTS TO 2028- TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS AND ANALYSIS
7.3.THYRISTOR-BASED
7.3.1.Overview
7.3.2.Thyristor-Based Market Forecast and Analysis
7.4.MCR-BASED
7.4.1.Overview
7.4.2.MCR-Based Market Forecast and Analysis
8.STATIC VAR COMPENSATOR MARKET - REVENUE AND FORECASTS TO 2028- COMPONENT
8.1.OVERVIEW
8.2.COMPONENT MARKET FORECASTS AND ANALYSIS
8.3.POWER ELECTRONIC DEVICE
8.3.1.Overview
8.3.2.Power Electronic Device Market Forecast and Analysis
8.4.HARMONIC FILTER
8.4.1.Overview
8.4.2.Harmonic Filter Market Forecast and Analysis
8.5.THYRISTOR
8.5.1.Overview
8.5.2.Thyristor Market Forecast and Analysis
8.6.REACTOR
8.6.1.Overview
8.6.2.Reactor Market Forecast and Analysis
8.7.CAPACITOR BANK
8.7.1.Overview
8.7.2.Capacitor Bank Market Forecast and Analysis
8.8.GIS SWITCHGEAR
8.8.1.Overview
8.8.2.GIS Switchgear Market Forecast and Analysis
8.9.OTHERS
8.9.1.Overview
8.9.2.Others Market Forecast and Analysis
9.STATIC VAR COMPENSATOR MARKET - REVENUE AND FORECASTS TO 2028- VERTICAL
9.1.OVERVIEW
9.2.VERTICAL MARKET FORECASTS AND ANALYSIS
9.3.ELECTRIC UTILITY
9.3.1.Overview
9.3.2.Electric Utility Market Forecast and Analysis
9.4.RENEWABLE
9.4.1.Overview
9.4.2.Renewable Market Forecast and Analysis
9.5.RAILWAY
9.5.1.Overview
9.5.2.Railway Market Forecast and Analysis
9.6.INDUSTRIAL
9.6.1.Overview
9.6.2.Industrial Market Forecast and Analysis
9.7.OIL AND GAS
9.7.1.Overview
9.7.2.Oil and Gas Market Forecast and Analysis
10.STATIC VAR COMPENSATOR MARKET REVENUE AND FORECASTS TO 2028- GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Static VAR Compensator Market Overview
10.1.2North America Static VAR Compensator Market Forecasts and Analysis
10.1.3North America Static VAR Compensator Market Forecasts and Analysis - By Type
10.1.4North America Static VAR Compensator Market Forecasts and Analysis - By Component
10.1.5North America Static VAR Compensator Market Forecasts and Analysis - By Vertical
10.1.6North America Static VAR Compensator Market Forecasts and Analysis - By Countries
10.1.6.1United States Static VAR Compensator Market
10.1.6.1.1United States Static VAR Compensator Market by Type
10.1.6.1.2United States Static VAR Compensator Market by Component
10.1.6.1.3United States Static VAR Compensator Market by Vertical
10.1.6.2Canada Static VAR Compensator Market
10.1.6.2.1Canada Static VAR Compensator Market by Type
10.1.6.2.2Canada Static VAR Compensator Market by Component
10.1.6.2.3Canada Static VAR Compensator Market by Vertical
10.1.6.3Mexico Static VAR Compensator Market
10.1.6.3.1Mexico Static VAR Compensator Market by Type
10.1.6.3.2Mexico Static VAR Compensator Market by Component
10.1.6.3.3Mexico Static VAR Compensator Market by Vertical
10.2.EUROPE
10.2.1Europe Static VAR Compensator Market Overview
10.2.2Europe Static VAR Compensator Market Forecasts and Analysis
10.2.3Europe Static VAR Compensator Market Forecasts and Analysis - By Type
10.2.4Europe Static VAR Compensator Market Forecasts and Analysis - By Component
10.2.5Europe Static VAR Compensator Market Forecasts and Analysis - By Vertical
10.2.6Europe Static VAR Compensator Market Forecasts and Analysis - By Countries
10.2.6.1Germany Static VAR Compensator Market
10.2.6.1.1Germany Static VAR Compensator Market by Type
10.2.6.1.2Germany Static VAR Compensator Market by Component
10.2.6.1.3Germany Static VAR Compensator Market by Vertical
10.2.6.2France Static VAR Compensator Market
10.2.6.2.1France Static VAR Compensator Market by Type
10.2.6.2.2France Static VAR Compensator Market by Component
10.2.6.2.3France Static VAR Compensator Market by Vertical
10.2.6.3Italy Static VAR Compensator Market
10.2.6.3.1Italy Static VAR Compensator Market by Type
10.2.6.3.2Italy Static VAR Compensator Market by Component
10.2.6.3.3Italy Static VAR Compensator Market by Vertical
10.2.6.4United Kingdom Static VAR Compensator Market
10.2.6.4.1United Kingdom Static VAR Compensator Market by Type
10.2.6.4.2United Kingdom Static VAR Compensator Market by Component
10.2.6.4.3United Kingdom Static VAR Compensator Market by Vertical
10.2.6.5Russia Static VAR Compensator Market
10.2.6.5.1Russia Static VAR Compensator Market by Type
10.2.6.5.2Russia Static VAR Compensator Market by Component
10.2.6.5.3Russia Static VAR Compensator Market by Vertical
10.2.6.6Rest of Europe Static VAR Compensator Market
10.2.6.6.1Rest of Europe Static VAR Compensator Market by Type
10.2.6.6.2Rest of Europe Static VAR Compensator Market by Component
10.2.6.6.3Rest of Europe Static VAR Compensator Market by Vertical
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Static VAR Compensator Market Overview
10.3.2Asia-Pacific Static VAR Compensator Market Forecasts and Analysis
10.3.3Asia-Pacific Static VAR Compensator Market Forecasts and Analysis - By Type
10.3.4Asia-Pacific Static VAR Compensator Market Forecasts and Analysis - By Component
10.3.5Asia-Pacific Static VAR Compensator Market Forecasts and Analysis - By Vertical
10.3.6Asia-Pacific Static VAR Compensator Market Forecasts and Analysis - By Countries
10.3.6.1Australia Static VAR Compensator Market
10.3.6.1.1Australia Static VAR Compensator Market by Type
10.3.6.1.2Australia Static VAR Compensator Market by Component
10.3.6.1.3Australia Static VAR Compensator Market by Vertical
10.3.6.2China Static VAR Compensator Market
10.3.6.2.1China Static VAR Compensator Market by Type
10.3.6.2.2China Static VAR Compensator Market by Component
10.3.6.2.3China Static VAR Compensator Market by Vertical
10.3.6.3India Static VAR Compensator Market
10.3.6.3.1India Static VAR Compensator Market by Type
10.3.6.3.2India Static VAR Compensator Market by Component
10.3.6.3.3India Static VAR Compensator Market by Vertical
10.3.6.4Japan Static VAR Compensator Market
10.3.6.4.1Japan Static VAR Compensator Market by Type
10.3.6.4.2Japan Static VAR Compensator Market by Component
10.3.6.4.3Japan Static VAR Compensator Market by Vertical
10.3.6.5South Korea Static VAR Compensator Market
10.3.6.5.1South Korea Static VAR Compensator Market by Type
10.3.6.5.2South Korea Static VAR Compensator Market by Component
10.3.6.5.3South Korea Static VAR Compensator Market by Vertical
10.3.6.6Rest of Asia-Pacific Static VAR Compensator Market
10.3.6.6.1Rest of Asia-Pacific Static VAR Compensator Market by Type
10.3.6.6.2Rest of Asia-Pacific Static VAR Compensator Market by Component
10.3.6.6.3Rest of Asia-Pacific Static VAR Compensator Market by Vertical
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Static VAR Compensator Market Overview
10.4.2Middle East and Africa Static VAR Compensator Market Forecasts and Analysis
10.4.3Middle East and Africa Static VAR Compensator Market Forecasts and Analysis - By Type
10.4.4Middle East and Africa Static VAR Compensator Market Forecasts and Analysis - By Component
10.4.5Middle East and Africa Static VAR Compensator Market Forecasts and Analysis - By Vertical
10.4.6Middle East and Africa Static VAR Compensator Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Static VAR Compensator Market
10.4.6.1.1South Africa Static VAR Compensator Market by Type
10.4.6.1.2South Africa Static VAR Compensator Market by Component
10.4.6.1.3South Africa Static VAR Compensator Market by Vertical
10.4.6.2Saudi Arabia Static VAR Compensator Market
10.4.6.2.1Saudi Arabia Static VAR Compensator Market by Type
10.4.6.2.2Saudi Arabia Static VAR Compensator Market by Component
10.4.6.2.3Saudi Arabia Static VAR Compensator Market by Vertical
10.4.6.3U.A.E Static VAR Compensator Market
10.4.6.3.1U.A.E Static VAR Compensator Market by Type
10.4.6.3.2U.A.E Static VAR Compensator Market by Component
10.4.6.3.3U.A.E Static VAR Compensator Market by Vertical
10.4.6.4Rest of Middle East and Africa Static VAR Compensator Market
10.4.6.4.1Rest of Middle East and Africa Static VAR Compensator Market by Type
10.4.6.4.2Rest of Middle East and Africa Static VAR Compensator Market by Component
10.4.6.4.3Rest of Middle East and Africa Static VAR Compensator Market by Vertical
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Static VAR Compensator Market Overview
10.5.2South and Central America Static VAR Compensator Market Forecasts and Analysis
10.5.3South and Central America Static VAR Compensator Market Forecasts and Analysis - By Type
10.5.4South and Central America Static VAR Compensator Market Forecasts and Analysis - By Component
10.5.5South and Central America Static VAR Compensator Market Forecasts and Analysis - By Vertical
10.5.6South and Central America Static VAR Compensator Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Static VAR Compensator Market
10.5.6.1.1Brazil Static VAR Compensator Market by Type
10.5.6.1.2Brazil Static VAR Compensator Market by Component
10.5.6.1.3Brazil Static VAR Compensator Market by Vertical
10.5.6.2Argentina Static VAR Compensator Market
10.5.6.2.1Argentina Static VAR Compensator Market by Type
10.5.6.2.2Argentina Static VAR Compensator Market by Component
10.5.6.2.3Argentina Static VAR Compensator Market by Vertical
10.5.6.3Rest of South and Central America Static VAR Compensator Market
10.5.6.3.1Rest of South and Central America Static VAR Compensator Market by Type
10.5.6.3.2Rest of South and Central America Static VAR Compensator Market by Component
10.5.6.3.3Rest of South and Central America Static VAR Compensator Market by Vertical
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.STATIC VAR COMPENSATOR MARKET, KEY COMPANY PROFILES
12.1.ABB
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.AMERICAN SUPERCONDUCTOR
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.EATON CORPORATION 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.GENERAL ELECTRIC COMPANY
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.HYOSUNG Â HEAVY Â INDUSTRIES
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.JEMA ENERGY
12.6.1.Key Facts
12.6.2.Business Description
12.6.3.Products and Services
12.6.4.Financial Overview
12.6.5.SWOT Analysis
12.6.6.Key Developments
12.7.MITSUBISHI ELECTRIC CORPORATION
12.7.1.Key Facts
12.7.2.Business Description
12.7.3.Products and Services
12.7.4.Financial Overview
12.7.5.SWOT Analysis
12.7.6.Key Developments
12.8.NR ELECTRIC CO., LTD
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.RONGXIN POWER ELECTRONIC 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.SIEMENS AG
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. ABB
2. American Superconductor
3. Eaton Corporation Inc
4. General Electric Company
5. HYOSUNG HEAVY INDUSTRIES
6. JEMA Energy
7. Mitsubishi Electric Corporation
8. NR Electric Co., Ltd
9. Rongxin Power Electronic Co., Ltd.
10. Siemens AG
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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