Vehicle Subscription Services Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Vehicle subscription is the service in which consumers pay fees in return for access to a vehicle. The fees include vehicle insurance, roadside assistance, and maintenance. A vehicle can be expensive in terms of the cost of a vehicle, maintenance, insurance, servicing, and component change. All these expenses are eliminated in the vehicle subscription service, which in turn fueling the growth of the vehicle subscription services market. Growing consumer awareness coupled with the presence of subscription service providers is another driver of the vehicle subscription services market.
MARKET DYNAMICS
Getting a vehicle via subscription is more convenient and flexible which comes with low financial liability. Continuously rise in automotive prices and regulations is significantly influence vehicle subscription services market growth. Further, users have the liberty to switch between models and trims, in case of dissatisfaction with the existing vehicle. These benefits are also booming the growth of the vehicle subscription services market. With the rise of mobility-as-a-service, an auto manufacturer is now increasingly trying car subscription services which anticipating the growth of the vehicle subscription services market.
MARKET SCOPE
The "Global Vehicle Subscription Services Market Analysis to 2031" is a specialized and in-depth study of the vehicle subscription services industry with a special focus on the global market trend analysis. The report aims to provide an overview vehicle subscription services market with detailed market segmentation as of service provider, subscription type, vehicle type, and geography. The global vehicle subscription services market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading vehicle subscription services market players and offers key trends and opportunities in the vehicle subscription services market.
MARKET SEGMENTATION
The global vehicle subscription services market is segmented on the basis of service provider, subscription type, vehicle type. On the basis of service provider the market is segmented as OEM, private service providers. On the basis of subscription type the market is segmented as monthly, quarterly, yearly. On the basis of vehicle type the market is segmented as economy, executive, premium.
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 vehicle subscription services 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 America. The vehicle subscription services 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 vehicle subscription services 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 vehicle subscription services 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 vehicle subscription services 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 America. The vehicle subscription services 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 vehicle subscription services 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 vehicle subscription services market in these regions.
MARKET PLAYERS
The reports cover key developments in the vehicle subscription services 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 vehicle subscription services market are anticipated to lucrative growth opportunities in the future with the rising demand for vehicle subscription services in the global market. Below mentioned is the list of few companies engaged in the vehicle subscription services market.
The report also includes the profiles of key vehicle subscription services 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.
- Access by BMW
- AUTO ONE Group
- Daimler Mobility AG
- Fair Financial Corp.
- FreshCar (Carma Car Inc.)
- Hyundai Motors
- Mahindra & Mahindra Limited
- Porsche Smart Mobility GmbH
- Prazo, Inc.
- Volvo Car Corporation
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.
- 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
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.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Vehicle Subscription Services Market - By Service Provider
1.3.2Vehicle Subscription Services Market - By Subscription Type
1.3.3Vehicle Subscription Services Market - By Vehicle Type
1.3.4Vehicle Subscription Services Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.VEHICLE SUBSCRIPTION SERVICES MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PORTER'S FIVE FORCES ANALYSIS
4.2.1Bargaining Power of Buyers
4.2.1Bargaining Power of Suppliers
4.2.1Threat of Substitute
4.2.1Threat of New Entrants
4.2.1Competitive Rivalry
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.VEHICLE SUBSCRIPTION SERVICES 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.VEHICLE SUBSCRIPTION SERVICES MARKET - GLOBAL MARKET ANALYSIS
6.1.VEHICLE SUBSCRIPTION SERVICES - GLOBAL MARKET OVERVIEW
6.2.VEHICLE SUBSCRIPTION SERVICES - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.VEHICLE SUBSCRIPTION SERVICES MARKET - REVENUE AND FORECASTS TO 2028 - SERVICE PROVIDER
7.1.OVERVIEW
7.2.SERVICE PROVIDER MARKET FORECASTS AND ANALYSIS
7.3.OEM
7.3.1.Overview
7.3.2.OEM Market Forecast and Analysis
7.4.PRIVATE SERVICE PROVIDERS
7.4.1.Overview
7.4.2.Private Service Providers Market Forecast and Analysis
8.VEHICLE SUBSCRIPTION SERVICES MARKET - REVENUE AND FORECASTS TO 2028 - SUBSCRIPTION TYPE
8.1.OVERVIEW
8.2.SUBSCRIPTION TYPE MARKET FORECASTS AND ANALYSIS
8.3.MONTHLY
8.3.1.Overview
8.3.2.Monthly Market Forecast and Analysis
8.4.QUARTERLY
8.4.1.Overview
8.4.2.Quarterly Market Forecast and Analysis
8.5.YEARLY
8.5.1.Overview
8.5.2.Yearly Market Forecast and Analysis
9.VEHICLE SUBSCRIPTION SERVICES MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
9.1.OVERVIEW
9.2.VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
9.3.ECONOMY
9.3.1.Overview
9.3.2.Economy Market Forecast and Analysis
9.4.EXECUTIVE
9.4.1.Overview
9.4.2.Executive Market Forecast and Analysis
9.5.PREMIUM
9.5.1.Overview
9.5.2.Premium Market Forecast and Analysis
10.VEHICLE SUBSCRIPTION SERVICES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Vehicle Subscription Services Market Overview
10.1.2North America Vehicle Subscription Services Market Forecasts and Analysis
10.1.3North America Vehicle Subscription Services Market Forecasts and Analysis - By Service Provider
10.1.4North America Vehicle Subscription Services Market Forecasts and Analysis - By Subscription Type
10.1.5North America Vehicle Subscription Services Market Forecasts and Analysis - By Vehicle Type
10.1.6North America Vehicle Subscription Services Market Forecasts and Analysis - By Countries
10.1.6.1United States Vehicle Subscription Services Market
10.1.6.1.1United States Vehicle Subscription Services Market by Service Provider
10.1.6.1.2United States Vehicle Subscription Services Market by Subscription Type
10.1.6.1.3United States Vehicle Subscription Services Market by Vehicle Type
10.1.6.2Canada Vehicle Subscription Services Market
10.1.6.2.1Canada Vehicle Subscription Services Market by Service Provider
10.1.6.2.2Canada Vehicle Subscription Services Market by Subscription Type
10.1.6.2.3Canada Vehicle Subscription Services Market by Vehicle Type
10.1.6.3Mexico Vehicle Subscription Services Market
10.1.6.3.1Mexico Vehicle Subscription Services Market by Service Provider
10.1.6.3.2Mexico Vehicle Subscription Services Market by Subscription Type
10.1.6.3.3Mexico Vehicle Subscription Services Market by Vehicle Type
10.2.EUROPE
10.2.1Europe Vehicle Subscription Services Market Overview
10.2.2Europe Vehicle Subscription Services Market Forecasts and Analysis
10.2.3Europe Vehicle Subscription Services Market Forecasts and Analysis - By Service Provider
10.2.4Europe Vehicle Subscription Services Market Forecasts and Analysis - By Subscription Type
10.2.5Europe Vehicle Subscription Services Market Forecasts and Analysis - By Vehicle Type
10.2.6Europe Vehicle Subscription Services Market Forecasts and Analysis - By Countries
10.2.6.1Germany Vehicle Subscription Services Market
10.2.6.1.1Germany Vehicle Subscription Services Market by Service Provider
10.2.6.1.2Germany Vehicle Subscription Services Market by Subscription Type
10.2.6.1.3Germany Vehicle Subscription Services Market by Vehicle Type
10.2.6.2France Vehicle Subscription Services Market
10.2.6.2.1France Vehicle Subscription Services Market by Service Provider
10.2.6.2.2France Vehicle Subscription Services Market by Subscription Type
10.2.6.2.3France Vehicle Subscription Services Market by Vehicle Type
10.2.6.3Italy Vehicle Subscription Services Market
10.2.6.3.1Italy Vehicle Subscription Services Market by Service Provider
10.2.6.3.2Italy Vehicle Subscription Services Market by Subscription Type
10.2.6.3.3Italy Vehicle Subscription Services Market by Vehicle Type
10.2.6.4United Kingdom Vehicle Subscription Services Market
10.2.6.4.1United Kingdom Vehicle Subscription Services Market by Service Provider
10.2.6.4.2United Kingdom Vehicle Subscription Services Market by Subscription Type
10.2.6.4.3United Kingdom Vehicle Subscription Services Market by Vehicle Type
10.2.6.5Russia Vehicle Subscription Services Market
10.2.6.5.1Russia Vehicle Subscription Services Market by Service Provider
10.2.6.5.2Russia Vehicle Subscription Services Market by Subscription Type
10.2.6.5.3Russia Vehicle Subscription Services Market by Vehicle Type
10.2.6.6Rest of Europe Vehicle Subscription Services Market
10.2.6.6.1Rest of Europe Vehicle Subscription Services Market by Service Provider
10.2.6.6.2Rest of Europe Vehicle Subscription Services Market by Subscription Type
10.2.6.6.3Rest of Europe Vehicle Subscription Services Market by Vehicle Type
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Vehicle Subscription Services Market Overview
10.3.2Asia-Pacific Vehicle Subscription Services Market Forecasts and Analysis
10.3.3Asia-Pacific Vehicle Subscription Services Market Forecasts and Analysis - By Service Provider
10.3.4Asia-Pacific Vehicle Subscription Services Market Forecasts and Analysis - By Subscription Type
10.3.5Asia-Pacific Vehicle Subscription Services Market Forecasts and Analysis - By Vehicle Type
10.3.6Asia-Pacific Vehicle Subscription Services Market Forecasts and Analysis - By Countries
10.3.6.1Australia Vehicle Subscription Services Market
10.3.6.1.1Australia Vehicle Subscription Services Market by Service Provider
10.3.6.1.2Australia Vehicle Subscription Services Market by Subscription Type
10.3.6.1.3Australia Vehicle Subscription Services Market by Vehicle Type
10.3.6.2China Vehicle Subscription Services Market
10.3.6.2.1China Vehicle Subscription Services Market by Service Provider
10.3.6.2.2China Vehicle Subscription Services Market by Subscription Type
10.3.6.2.3China Vehicle Subscription Services Market by Vehicle Type
10.3.6.3India Vehicle Subscription Services Market
10.3.6.3.1India Vehicle Subscription Services Market by Service Provider
10.3.6.3.2India Vehicle Subscription Services Market by Subscription Type
10.3.6.3.3India Vehicle Subscription Services Market by Vehicle Type
10.3.6.4Japan Vehicle Subscription Services Market
10.3.6.4.1Japan Vehicle Subscription Services Market by Service Provider
10.3.6.4.2Japan Vehicle Subscription Services Market by Subscription Type
10.3.6.4.3Japan Vehicle Subscription Services Market by Vehicle Type
10.3.6.5South Korea Vehicle Subscription Services Market
10.3.6.5.1South Korea Vehicle Subscription Services Market by Service Provider
10.3.6.5.2South Korea Vehicle Subscription Services Market by Subscription Type
10.3.6.5.3South Korea Vehicle Subscription Services Market by Vehicle Type
10.3.6.6Rest of Asia-Pacific Vehicle Subscription Services Market
10.3.6.6.1Rest of Asia-Pacific Vehicle Subscription Services Market by Service Provider
10.3.6.6.2Rest of Asia-Pacific Vehicle Subscription Services Market by Subscription Type
10.3.6.6.3Rest of Asia-Pacific Vehicle Subscription Services Market by Vehicle Type
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Vehicle Subscription Services Market Overview
10.4.2Middle East and Africa Vehicle Subscription Services Market Forecasts and Analysis
10.4.3Middle East and Africa Vehicle Subscription Services Market Forecasts and Analysis - By Service Provider
10.4.4Middle East and Africa Vehicle Subscription Services Market Forecasts and Analysis - By Subscription Type
10.4.5Middle East and Africa Vehicle Subscription Services Market Forecasts and Analysis - By Vehicle Type
10.4.6Middle East and Africa Vehicle Subscription Services Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Vehicle Subscription Services Market
10.4.6.1.1South Africa Vehicle Subscription Services Market by Service Provider
10.4.6.1.2South Africa Vehicle Subscription Services Market by Subscription Type
10.4.6.1.3South Africa Vehicle Subscription Services Market by Vehicle Type
10.4.6.2Saudi Arabia Vehicle Subscription Services Market
10.4.6.2.1Saudi Arabia Vehicle Subscription Services Market by Service Provider
10.4.6.2.2Saudi Arabia Vehicle Subscription Services Market by Subscription Type
10.4.6.2.3Saudi Arabia Vehicle Subscription Services Market by Vehicle Type
10.4.6.3U.A.E Vehicle Subscription Services Market
10.4.6.3.1U.A.E Vehicle Subscription Services Market by Service Provider
10.4.6.3.2U.A.E Vehicle Subscription Services Market by Subscription Type
10.4.6.3.3U.A.E Vehicle Subscription Services Market by Vehicle Type
10.4.6.4Rest of Middle East and Africa Vehicle Subscription Services Market
10.4.6.4.1Rest of Middle East and Africa Vehicle Subscription Services Market by Service Provider
10.4.6.4.2Rest of Middle East and Africa Vehicle Subscription Services Market by Subscription Type
10.4.6.4.3Rest of Middle East and Africa Vehicle Subscription Services Market by Vehicle Type
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Vehicle Subscription Services Market Overview
10.5.2South and Central America Vehicle Subscription Services Market Forecasts and Analysis
10.5.3South and Central America Vehicle Subscription Services Market Forecasts and Analysis - By Service Provider
10.5.4South and Central America Vehicle Subscription Services Market Forecasts and Analysis - By Subscription Type
10.5.5South and Central America Vehicle Subscription Services Market Forecasts and Analysis - By Vehicle Type
10.5.6South and Central America Vehicle Subscription Services Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Vehicle Subscription Services Market
10.5.6.1.1Brazil Vehicle Subscription Services Market by Service Provider
10.5.6.1.2Brazil Vehicle Subscription Services Market by Subscription Type
10.5.6.1.3Brazil Vehicle Subscription Services Market by Vehicle Type
10.5.6.2Argentina Vehicle Subscription Services Market
10.5.6.2.1Argentina Vehicle Subscription Services Market by Service Provider
10.5.6.2.2Argentina Vehicle Subscription Services Market by Subscription Type
10.5.6.2.3Argentina Vehicle Subscription Services Market by Vehicle Type
10.5.6.3Rest of South and Central America Vehicle Subscription Services Market
10.5.6.3.1Rest of South and Central America Vehicle Subscription Services Market by Service Provider
10.5.6.3.2Rest of South and Central America Vehicle Subscription Services Market by Subscription Type
10.5.6.3.3Rest of South and Central America Vehicle Subscription Services Market by Vehicle Type
11.INDUSTRY LANDSCAPE
11.1.MERGERS AND ACQUISITIONS
11.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3.NEW PRODUCT LAUNCHES
11.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12.VEHICLE SUBSCRIPTION SERVICES MARKET, KEY COMPANY PROFILES
12.1.ACCESS BY BMW
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.AUTO ONE GROUP
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.DAIMLER MOBILITY 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.FAIR FINANCIAL CORP.
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.FRESHCAR (CARMA CAR 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.HYUNDAI MOTORS
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.MAHINDRA AND MAHINDRA LIMITED
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.PORSCHE SMART MOBILITY 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.PRAZO, 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.VOLVO CAR CORPORATION
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. Access by BMW
2. AUTO ONE Group
3. Daimler Mobility AG
4. Fair Financial Corp.
5. FreshCar (Carma Car Inc.)
6. Hyundai Motors
7. Mahindra and Mahindra Limited
8. Porsche Smart Mobility GmbH
9. Prazo, Inc.
10. Volvo Car Corporation
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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