Technologies of Solar PV Balance of System Market Key Players Analysis 2031
MARKET INTRODUCTION
The balance of a PV system is a component excluding modules that transfers the energy generated by solar panels through a conversion system that produces electricity. It is usually the system balance factor of PV that controls costs, increases efficiency and modernizes PV systems. The PV system has three major sections: stand-alone, grid tie, and PV. The island system is independent, not connected to the grid, and has several backup systems. No maintenance or regular fuel is required. In a grid connection system, the load is supplied directly from the PV generator if there is sufficient solar radiation and also from the grid if there is insufficient solar radiation.
MARKET DYNAMICS
The solar energy sector has achieved grid equivalence but is competing with itself to provide advanced and efficient energy solutions. Today, many consumer goods are powered by solar power. The energy consumed by such devices is low and has great potential for applications. The photovoltaic sector is gaining popularity in countries such as the United States, Italy, Japan, the United Kingdom, France, Germany and India. There is considerable interest, research effort and funding in this area. This global interest is driven by many factors, including the search for new energy sources with strong pressure on traditional fuels, simplicity, cleanliness, and direct conversion to electricity.
MARKET SCOPE
The "Global Technologies of Solar PV Balance of System Market Analysis to 2031" is a specialized and in-depth study of the technologies of solar PV balance of system market with a special focus on the global market trend analysis. The report aims to provide an overview of the technologies of solar PV balance of system market with detailed market segmentation by type, application, and geography. The global technologies of solar PV balance of system' market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading technologies of solar PV balance of system market players and offers key trends and opportunities in the technologies of solar PV balance of system' market.
MARKET SEGMENTATION
The global technologies of solar PV balance of system market are segmented based on type and application. Based on its technology, technologies of solar PV balance of system' market can be segmented into DC cabling, combiner boxes, connectors, inverters, monitoring hardware and others. Based on its application, technologies of solar PV balance of system' market can be segmented into commercial, residential, agricultural, and public facilities.
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IMPACT OF COVID-19 ON TECHNOLOGIES OF SOLAR PV BALANCE OF SYSTEM MARKET
With the recent outbreak of COVID 19, the series tractor market is expected to experience a slight decline due to the blockade policies adopted by various governments around the world. However, the market continued is growth owing to the ongoing government project. For instance, in April 2021, China's State Grid Corporation of China (SGCC), a power transmission system operator in China, established an ultra-high voltage (U.H.V.) DC (DC) of 800 kV and 800 MW between Yulin, Shaanxi and Wuhan provinces. Construction of a power transmission project has started.
REGIONAL FRAMEWORK Naveen Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Technologies of Solar PV Balance of System Market based on various segments. It also provides market size and forecast estimates from year 2017 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Technologies of Solar PV Balance of System 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 Technologies of Solar PV Balance of System 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 America after evaluating political, economic, social and technological factors effecting the technologies of solar PV balance of system 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 Technologies of Solar PV Balance of System Market based on various segments. It also provides market size and forecast estimates from year 2017 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Technologies of Solar PV Balance of System 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 Technologies of Solar PV Balance of System 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 America after evaluating political, economic, social and technological factors effecting the technologies of solar PV balance of system market in these regions.
MARKET PLAYERS
The reports cover key developments in the technologies of solar PV balance of system 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 players from technologies of solar PV balance of system market are anticipated to lucrative growth opportunities in the future with the rising demand for technologies of solar PV balance of system market. Below mentioned is the list of few companies engaged in the technologies of solar PV balance of system market.
The report also includes the profiles of key technologies of solar PV balance of system market 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.
- Solea AG
- Magnum Energy
- Sensus Energy
- SMA
- SolarEdge
- OutBack Power
- ABB
- IronRidge
- Fronius
- Unirac Inc.
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
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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 Technologies Of Solar PV Balance Of System Market - By Type
1.3.2 Technologies Of Solar PV Balance Of System Market - By End Users
1.3.3 Technologies Of Solar PV Balance Of System Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. TECHNOLOGIES OF SOLAR PV BALANCE OF SYSTEM MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. TECHNOLOGIES OF SOLAR PV BALANCE OF 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 AND RESTRAINTS
6. TECHNOLOGIES OF SOLAR PV BALANCE OF SYSTEM MARKET - GLOBAL MARKET ANALYSIS
6.1. TECHNOLOGIES OF SOLAR PV BALANCE OF SYSTEM - GLOBAL MARKET OVERVIEW
6.2. TECHNOLOGIES OF SOLAR PV BALANCE OF SYSTEM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. TECHNOLOGIES OF SOLAR PV BALANCE OF SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. DC CABLING
7.3.1. Overview
7.3.2. DC Cabling Market Forecast and Analysis
7.4. COMBINER BOXES
7.4.1. Overview
7.4.2. Combiner Boxes Market Forecast and Analysis
7.5. CONNECTORS
7.5.1. Overview
7.5.2. Connectors Market Forecast and Analysis
7.6. INVERTERS
7.6.1. Overview
7.6.2. Inverters Market Forecast and Analysis
7.7. MONITORING HARDWARE
7.7.1. Overview
7.7.2. Monitoring Hardware Market Forecast and Analysis
7.8. OTHERS
7.8.1. Overview
7.8.2. Others Market Forecast and Analysis
8. TECHNOLOGIES OF SOLAR PV BALANCE OF SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - END USERS
8.1. OVERVIEW
8.2. END USERS MARKET FORECASTS AND ANALYSIS
8.3. COMMERCIAL
8.3.1. Overview
8.3.2. Commercial Market Forecast and Analysis
8.4. RESIDENTIAL
8.4.1. Overview
8.4.2. Residential Market Forecast and Analysis
8.5. AGRICULTURAL
8.5.1. Overview
8.5.2. Agricultural Market Forecast and Analysis
8.6. PUBLIC FACILITIES
8.6.1. Overview
8.6.2. Public facilities Market Forecast and Analysis
9. TECHNOLOGIES OF SOLAR PV BALANCE OF SYSTEM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Technologies Of Solar PV Balance Of System Market Overview
9.1.2 North America Technologies Of Solar PV Balance Of System Market Forecasts and Analysis
9.1.3 North America Technologies Of Solar PV Balance Of System Market Forecasts and Analysis - By Type
9.1.4 North America Technologies Of Solar PV Balance Of System Market Forecasts and Analysis - By End Users
9.1.5 North America Technologies Of Solar PV Balance Of System Market Forecasts and Analysis - By Countries
9.1.5.1 United States Technologies Of Solar PV Balance Of System Market
9.1.5.1.1 United States Technologies Of Solar PV Balance Of System Market by Type
9.1.5.1.2 United States Technologies Of Solar PV Balance Of System Market by End Users
9.1.5.2 Canada Technologies Of Solar PV Balance Of System Market
9.1.5.2.1 Canada Technologies Of Solar PV Balance Of System Market by Type
9.1.5.2.2 Canada Technologies Of Solar PV Balance Of System Market by End Users
9.1.5.3 Mexico Technologies Of Solar PV Balance Of System Market
9.1.5.3.1 Mexico Technologies Of Solar PV Balance Of System Market by Type
9.1.5.3.2 Mexico Technologies Of Solar PV Balance Of System Market by End Users
9.2. EUROPE
9.2.1 Europe Technologies Of Solar PV Balance Of System Market Overview
9.2.2 Europe Technologies Of Solar PV Balance Of System Market Forecasts and Analysis
9.2.3 Europe Technologies Of Solar PV Balance Of System Market Forecasts and Analysis - By Type
9.2.4 Europe Technologies Of Solar PV Balance Of System Market Forecasts and Analysis - By End Users
9.2.5 Europe Technologies Of Solar PV Balance Of System Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Technologies Of Solar PV Balance Of System Market
9.2.5.1.1 Germany Technologies Of Solar PV Balance Of System Market by Type
9.2.5.1.2 Germany Technologies Of Solar PV Balance Of System Market by End Users
9.2.5.2 France Technologies Of Solar PV Balance Of System Market
9.2.5.2.1 France Technologies Of Solar PV Balance Of System Market by Type
9.2.5.2.2 France Technologies Of Solar PV Balance Of System Market by End Users
9.2.5.3 Italy Technologies Of Solar PV Balance Of System Market
9.2.5.3.1 Italy Technologies Of Solar PV Balance Of System Market by Type
9.2.5.3.2 Italy Technologies Of Solar PV Balance Of System Market by End Users
9.2.5.4 United Kingdom Technologies Of Solar PV Balance Of System Market
9.2.5.4.1 United Kingdom Technologies Of Solar PV Balance Of System Market by Type
9.2.5.4.2 United Kingdom Technologies Of Solar PV Balance Of System Market by End Users
9.2.5.5 Russia Technologies Of Solar PV Balance Of System Market
9.2.5.5.1 Russia Technologies Of Solar PV Balance Of System Market by Type
9.2.5.5.2 Russia Technologies Of Solar PV Balance Of System Market by End Users
9.2.5.6 Rest of Europe Technologies Of Solar PV Balance Of System Market
9.2.5.6.1 Rest of Europe Technologies Of Solar PV Balance Of System Market by Type
9.2.5.6.2 Rest of Europe Technologies Of Solar PV Balance Of System Market by End Users
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Technologies Of Solar PV Balance Of System Market Overview
9.3.2 Asia-Pacific Technologies Of Solar PV Balance Of System Market Forecasts and Analysis
9.3.3 Asia-Pacific Technologies Of Solar PV Balance Of System Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Technologies Of Solar PV Balance Of System Market Forecasts and Analysis - By End Users
9.3.5 Asia-Pacific Technologies Of Solar PV Balance Of System Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Technologies Of Solar PV Balance Of System Market
9.3.5.1.1 Australia Technologies Of Solar PV Balance Of System Market by Type
9.3.5.1.2 Australia Technologies Of Solar PV Balance Of System Market by End Users
9.3.5.2 China Technologies Of Solar PV Balance Of System Market
9.3.5.2.1 China Technologies Of Solar PV Balance Of System Market by Type
9.3.5.2.2 China Technologies Of Solar PV Balance Of System Market by End Users
9.3.5.3 India Technologies Of Solar PV Balance Of System Market
9.3.5.3.1 India Technologies Of Solar PV Balance Of System Market by Type
9.3.5.3.2 India Technologies Of Solar PV Balance Of System Market by End Users
9.3.5.4 Japan Technologies Of Solar PV Balance Of System Market
9.3.5.4.1 Japan Technologies Of Solar PV Balance Of System Market by Type
9.3.5.4.2 Japan Technologies Of Solar PV Balance Of System Market by End Users
9.3.5.5 South Korea Technologies Of Solar PV Balance Of System Market
9.3.5.5.1 South Korea Technologies Of Solar PV Balance Of System Market by Type
9.3.5.5.2 South Korea Technologies Of Solar PV Balance Of System Market by End Users
9.3.5.6 Rest of Asia-Pacific Technologies Of Solar PV Balance Of System Market
9.3.5.6.1 Rest of Asia-Pacific Technologies Of Solar PV Balance Of System Market by Type
9.3.5.6.2 Rest of Asia-Pacific Technologies Of Solar PV Balance Of System Market by End Users
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Technologies Of Solar PV Balance Of System Market Overview
9.4.2 Middle East and Africa Technologies Of Solar PV Balance Of System Market Forecasts and Analysis
9.4.3 Middle East and Africa Technologies Of Solar PV Balance Of System Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Technologies Of Solar PV Balance Of System Market Forecasts and Analysis - By End Users
9.4.5 Middle East and Africa Technologies Of Solar PV Balance Of System Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Technologies Of Solar PV Balance Of System Market
9.4.5.1.1 South Africa Technologies Of Solar PV Balance Of System Market by Type
9.4.5.1.2 South Africa Technologies Of Solar PV Balance Of System Market by End Users
9.4.5.2 Saudi Arabia Technologies Of Solar PV Balance Of System Market
9.4.5.2.1 Saudi Arabia Technologies Of Solar PV Balance Of System Market by Type
9.4.5.2.2 Saudi Arabia Technologies Of Solar PV Balance Of System Market by End Users
9.4.5.3 U.A.E Technologies Of Solar PV Balance Of System Market
9.4.5.3.1 U.A.E Technologies Of Solar PV Balance Of System Market by Type
9.4.5.3.2 U.A.E Technologies Of Solar PV Balance Of System Market by End Users
9.4.5.4 Rest of Middle East and Africa Technologies Of Solar PV Balance Of System Market
9.4.5.4.1 Rest of Middle East and Africa Technologies Of Solar PV Balance Of System Market by Type
9.4.5.4.2 Rest of Middle East and Africa Technologies Of Solar PV Balance Of System Market by End Users
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Technologies Of Solar PV Balance Of System Market Overview
9.5.2 South and Central America Technologies Of Solar PV Balance Of System Market Forecasts and Analysis
9.5.3 South and Central America Technologies Of Solar PV Balance Of System Market Forecasts and Analysis - By Type
9.5.4 South and Central America Technologies Of Solar PV Balance Of System Market Forecasts and Analysis - By End Users
9.5.5 South and Central America Technologies Of Solar PV Balance Of System Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Technologies Of Solar PV Balance Of System Market
9.5.5.1.1 Brazil Technologies Of Solar PV Balance Of System Market by Type
9.5.5.1.2 Brazil Technologies Of Solar PV Balance Of System Market by End Users
9.5.5.2 Argentina Technologies Of Solar PV Balance Of System Market
9.5.5.2.1 Argentina Technologies Of Solar PV Balance Of System Market by Type
9.5.5.2.2 Argentina Technologies Of Solar PV Balance Of System Market by End Users
9.5.5.3 Rest of South and Central America Technologies Of Solar PV Balance Of System Market
9.5.5.3.1 Rest of South and Central America Technologies Of Solar PV Balance Of System Market by Type
9.5.5.3.2 Rest of South and Central America Technologies Of Solar PV Balance Of System Market by End Users
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. TECHNOLOGIES OF SOLAR PV BALANCE OF SYSTEM MARKET, KEY COMPANY PROFILES
11.1. SOLEA AG
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. MAGNUM ENERGY
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. SENSUS ENERGY
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. SMA
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. SOLAREDGE
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. OUTBACK POWER
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. ABB
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. IRONRIDGE
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. FRONIUS
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. UNIRAC INC
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List Of Companies
- Solea AG
- Magnum Energy
- Sensus Energy
- SMA
- SolarEdge
- OutBack Power
- ABB
- IronRidge
- Fronius
- Unirac Inc
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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