Wireless POS Terminal Market SWOT Analysis by 2031
The wireless POS terminal market size is expected to grow at a CAGR of 28.2% from 2023 to 2031. The wireless POS terminal market includes growth prospects owing to the current wireless POS terminal market trends and their foreseeable impact during the forecast period. The wireless POS terminal market is growing due to factors such as the growing trend of a cashless economy and the growing adoption of wireless POS terminals. The extensive growth of online shopping platforms provides lucrative opportunities for the wireless POS terminal market growth.
Wireless POS Terminal Market Analysis
A wireless POS terminal is a portable cash register that businesses use to take payments from customers. Instead of being tied to a fixed location, it can be carried around, making it handy for restaurants, events, and shops. The main benefits of wireless POS terminals are flexibility and convenience. It lets businesses serve customers anywhere and process transactions quickly.
Wireless POS Terminal Market Industry Overview
- As businesses increasingly shift to mobile and contactless payments, the demand for wireless POS terminals is growing rapidly.
- Companies are constantly innovating to meet the needs of merchants, offering sleek designs, faster processing speeds, and enhanced security features.
- With the rise of e-commerce sector, there's a huge opportunity for wireless POS terminal growth, attracting both established players and new startups looking to capitalize on the trend.
Wireless POS Terminal Market Driver
Increasing Demand For Wireless POS Terminal To Drive The Wireless POS Terminal Market
- With more businesses adopting mobile and contactless payment solutions, the need for versatile and efficient payment processing systems grows. Industries ranging from retail and hospitality to transportation and healthcare are embracing wireless POS terminals to enhance customer experience and streamline operations.
- Moreover, the rise of online marketplaces and delivery services has further fuelled the demand for wireless POS terminals. Small businesses and independent sellers can easily accept payments on the go, whether at pop-up events or customers' doorsteps.
- As the trend toward cashless transactions continues to accelerate, the wireless POS terminal market is poised for sustained growth, driven by the need for convenience, efficiency, and flexibility in payment processing.
Wireless POS Terminal Market Report Segmentation Analysis
- Based on type, the wireless POS terminal market is segmented into hardware, software, and services. The hardware segment is expected to hold a substantial wireless POS terminal market share in 2023.
Wireless POS Terminal Market Share Analysis By Geography
The scope of the wireless POS terminal market is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is experiencing rapid growth and is anticipated to hold a significant wireless POS terminal market share. Retailers, restaurants, and service providers in the US and Canada are increasingly adopting wireless POS terminals to enhance customer convenience and streamline transactions. Further, the North American market has highly developed infrastructure for digital payments, including widespread access to high-speed internet and advanced mobile technology. All such factors drive the wireless POS terminal market in North America.
Wireless POS Terminal Market Report Scope
The "Wireless POS Terminal Market Analysis" was carried out based on component, vertical and geography. On the basis of component, the market is segmented into hardware, software, and services. Based on vertical, the market is segmented into retail, hospitality, healthcare, and entertainment. Transportation, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Wireless POS Terminal Market News and Recent Developments
Companies adopt inorganic and organic strategies such as mergers and acquisitions in the wireless POS terminal market. A few recent key market developments are listed below:
- In March 2024, NEXGO announced the launch of N6--the brand-new smart mini POS terminal. The N6 is a thin, light, slim, and portable smart POS terminal designed for mobile payment scenarios. N6 is based on Android 10.x, with ATEX and IP54 certified, runs on a quad-core processor, and can support all payment methods, including 2G, 3G, and 4G, as well as Wi-Fi and Bluetooth.
[Source: NEXGO, Press Release]
Wireless POS Terminal Market Report Coverage & Deliverables
The wireless POS terminal market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Wireless POS Terminal Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-
- Market size & forecast at global, regional, and country levels for all the key market segments covered under the scope.
- Market dynamics such as drivers, restraints, and key opportunities.
- Key future trends.
- Detailed PEST & SWOT analysis
- Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
- Detailed company profiles.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Wireless POS Terminal Market - By Component
1.3.2 Wireless POS Terminal Market - By Type
1.3.3 Wireless POS Terminal Market - By Industry Vertical
1.3.4 Wireless POS Terminal Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. WIRELESS POS TERMINAL MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. WIRELESS POS TERMINAL MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. WIRELESS POS TERMINAL MARKET - GLOBAL MARKET ANALYSIS
6.1. WIRELESS POS TERMINAL - GLOBAL MARKET OVERVIEW
6.2. WIRELESS POS TERMINAL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. WIRELESS POS TERMINAL MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. HARDWARE
7.3.1. Overview
7.3.2. Hardware Market Forecast and Analysis
7.4. SOFTWARE
7.4.1. Overview
7.4.2. Software Market Forecast and Analysis
8. WIRELESS POS TERMINAL MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
8.1. OVERVIEW
8.2. TYPE MARKET FORECASTS AND ANALYSIS
8.3. PORTABLE COUNTERTOP AND PIN PAD
8.3.1. Overview
8.3.2. Portable Countertop and PIN Pad Market Forecast and Analysis
8.4. MPOS
8.4.1. Overview
8.4.2. mPOS Market Forecast and Analysis
8.5. SMART POS
8.5.1. Overview
8.5.2. Smart POS Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. WIRELESS POS TERMINAL MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY VERTICAL
9.1. OVERVIEW
9.2. INDUSTRY VERTICAL MARKET FORECASTS AND ANALYSIS
9.3. RETAIL
9.3.1. Overview
9.3.2. Retail Market Forecast and Analysis
9.4. HOSPITALITY
9.4.1. Overview
9.4.2. Hospitality Market Forecast and Analysis
9.5. HEALTHCARE
9.5.1. Overview
9.5.2. Healthcare Market Forecast and Analysis
9.6. TRANSPORTATION
9.6.1. Overview
9.6.2. Transportation Market Forecast and Analysis
9.7. SPORTS AND ENTERTAINMENT
9.7.1. Overview
9.7.2. Sports and Entertainment Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. WIRELESS POS TERMINAL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Wireless POS Terminal Market Overview
10.1.2 North America Wireless POS Terminal Market Forecasts and Analysis
10.1.3 North America Wireless POS Terminal Market Forecasts and Analysis - By Component
10.1.4 North America Wireless POS Terminal Market Forecasts and Analysis - By Type
10.1.5 North America Wireless POS Terminal Market Forecasts and Analysis - By Industry Vertical
10.1.6 North America Wireless POS Terminal Market Forecasts and Analysis - By Countries
10.1.6.1 United States Wireless POS Terminal Market
10.1.6.1.1 United States Wireless POS Terminal Market by Component
10.1.6.1.2 United States Wireless POS Terminal Market by Type
10.1.6.1.3 United States Wireless POS Terminal Market by Industry Vertical
10.1.6.2 Canada Wireless POS Terminal Market
10.1.6.2.1 Canada Wireless POS Terminal Market by Component
10.1.6.2.2 Canada Wireless POS Terminal Market by Type
10.1.6.2.3 Canada Wireless POS Terminal Market by Industry Vertical
10.1.6.3 Mexico Wireless POS Terminal Market
10.1.6.3.1 Mexico Wireless POS Terminal Market by Component
10.1.6.3.2 Mexico Wireless POS Terminal Market by Type
10.1.6.3.3 Mexico Wireless POS Terminal Market by Industry Vertical
10.2. EUROPE
10.2.1 Europe Wireless POS Terminal Market Overview
10.2.2 Europe Wireless POS Terminal Market Forecasts and Analysis
10.2.3 Europe Wireless POS Terminal Market Forecasts and Analysis - By Component
10.2.4 Europe Wireless POS Terminal Market Forecasts and Analysis - By Type
10.2.5 Europe Wireless POS Terminal Market Forecasts and Analysis - By Industry Vertical
10.2.6 Europe Wireless POS Terminal Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Wireless POS Terminal Market
10.2.6.1.1 Germany Wireless POS Terminal Market by Component
10.2.6.1.2 Germany Wireless POS Terminal Market by Type
10.2.6.1.3 Germany Wireless POS Terminal Market by Industry Vertical
10.2.6.2 France Wireless POS Terminal Market
10.2.6.2.1 France Wireless POS Terminal Market by Component
10.2.6.2.2 France Wireless POS Terminal Market by Type
10.2.6.2.3 France Wireless POS Terminal Market by Industry Vertical
10.2.6.3 Italy Wireless POS Terminal Market
10.2.6.3.1 Italy Wireless POS Terminal Market by Component
10.2.6.3.2 Italy Wireless POS Terminal Market by Type
10.2.6.3.3 Italy Wireless POS Terminal Market by Industry Vertical
10.2.6.4 United Kingdom Wireless POS Terminal Market
10.2.6.4.1 United Kingdom Wireless POS Terminal Market by Component
10.2.6.4.2 United Kingdom Wireless POS Terminal Market by Type
10.2.6.4.3 United Kingdom Wireless POS Terminal Market by Industry Vertical
10.2.6.5 Russia Wireless POS Terminal Market
10.2.6.5.1 Russia Wireless POS Terminal Market by Component
10.2.6.5.2 Russia Wireless POS Terminal Market by Type
10.2.6.5.3 Russia Wireless POS Terminal Market by Industry Vertical
10.2.6.6 Rest of Europe Wireless POS Terminal Market
10.2.6.6.1 Rest of Europe Wireless POS Terminal Market by Component
10.2.6.6.2 Rest of Europe Wireless POS Terminal Market by Type
10.2.6.6.3 Rest of Europe Wireless POS Terminal Market by Industry Vertical
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Wireless POS Terminal Market Overview
10.3.2 Asia-Pacific Wireless POS Terminal Market Forecasts and Analysis
10.3.3 Asia-Pacific Wireless POS Terminal Market Forecasts and Analysis - By Component
10.3.4 Asia-Pacific Wireless POS Terminal Market Forecasts and Analysis - By Type
10.3.5 Asia-Pacific Wireless POS Terminal Market Forecasts and Analysis - By Industry Vertical
10.3.6 Asia-Pacific Wireless POS Terminal Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Wireless POS Terminal Market
10.3.6.1.1 Australia Wireless POS Terminal Market by Component
10.3.6.1.2 Australia Wireless POS Terminal Market by Type
10.3.6.1.3 Australia Wireless POS Terminal Market by Industry Vertical
10.3.6.2 China Wireless POS Terminal Market
10.3.6.2.1 China Wireless POS Terminal Market by Component
10.3.6.2.2 China Wireless POS Terminal Market by Type
10.3.6.2.3 China Wireless POS Terminal Market by Industry Vertical
10.3.6.3 India Wireless POS Terminal Market
10.3.6.3.1 India Wireless POS Terminal Market by Component
10.3.6.3.2 India Wireless POS Terminal Market by Type
10.3.6.3.3 India Wireless POS Terminal Market by Industry Vertical
10.3.6.4 Japan Wireless POS Terminal Market
10.3.6.4.1 Japan Wireless POS Terminal Market by Component
10.3.6.4.2 Japan Wireless POS Terminal Market by Type
10.3.6.4.3 Japan Wireless POS Terminal Market by Industry Vertical
10.3.6.5 South Korea Wireless POS Terminal Market
10.3.6.5.1 South Korea Wireless POS Terminal Market by Component
10.3.6.5.2 South Korea Wireless POS Terminal Market by Type
10.3.6.5.3 South Korea Wireless POS Terminal Market by Industry Vertical
10.3.6.6 Rest of Asia-Pacific Wireless POS Terminal Market
10.3.6.6.1 Rest of Asia-Pacific Wireless POS Terminal Market by Component
10.3.6.6.2 Rest of Asia-Pacific Wireless POS Terminal Market by Type
10.3.6.6.3 Rest of Asia-Pacific Wireless POS Terminal Market by Industry Vertical
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Wireless POS Terminal Market Overview
10.4.2 Middle East and Africa Wireless POS Terminal Market Forecasts and Analysis
10.4.3 Middle East and Africa Wireless POS Terminal Market Forecasts and Analysis - By Component
10.4.4 Middle East and Africa Wireless POS Terminal Market Forecasts and Analysis - By Type
10.4.5 Middle East and Africa Wireless POS Terminal Market Forecasts and Analysis - By Industry Vertical
10.4.6 Middle East and Africa Wireless POS Terminal Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Wireless POS Terminal Market
10.4.6.1.1 South Africa Wireless POS Terminal Market by Component
10.4.6.1.2 South Africa Wireless POS Terminal Market by Type
10.4.6.1.3 South Africa Wireless POS Terminal Market by Industry Vertical
10.4.6.2 Saudi Arabia Wireless POS Terminal Market
10.4.6.2.1 Saudi Arabia Wireless POS Terminal Market by Component
10.4.6.2.2 Saudi Arabia Wireless POS Terminal Market by Type
10.4.6.2.3 Saudi Arabia Wireless POS Terminal Market by Industry Vertical
10.4.6.3 U.A.E Wireless POS Terminal Market
10.4.6.3.1 U.A.E Wireless POS Terminal Market by Component
10.4.6.3.2 U.A.E Wireless POS Terminal Market by Type
10.4.6.3.3 U.A.E Wireless POS Terminal Market by Industry Vertical
10.4.6.4 Rest of Middle East and Africa Wireless POS Terminal Market
10.4.6.4.1 Rest of Middle East and Africa Wireless POS Terminal Market by Component
10.4.6.4.2 Rest of Middle East and Africa Wireless POS Terminal Market by Type
10.4.6.4.3 Rest of Middle East and Africa Wireless POS Terminal Market by Industry Vertical
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Wireless POS Terminal Market Overview
10.5.2 South and Central America Wireless POS Terminal Market Forecasts and Analysis
10.5.3 South and Central America Wireless POS Terminal Market Forecasts and Analysis - By Component
10.5.4 South and Central America Wireless POS Terminal Market Forecasts and Analysis - By Type
10.5.5 South and Central America Wireless POS Terminal Market Forecasts and Analysis - By Industry Vertical
10.5.6 South and Central America Wireless POS Terminal Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Wireless POS Terminal Market
10.5.6.1.1 Brazil Wireless POS Terminal Market by Component
10.5.6.1.2 Brazil Wireless POS Terminal Market by Type
10.5.6.1.3 Brazil Wireless POS Terminal Market by Industry Vertical
10.5.6.2 Argentina Wireless POS Terminal Market
10.5.6.2.1 Argentina Wireless POS Terminal Market by Component
10.5.6.2.2 Argentina Wireless POS Terminal Market by Type
10.5.6.2.3 Argentina Wireless POS Terminal Market by Industry Vertical
10.5.6.3 Rest of South and Central America Wireless POS Terminal Market
10.5.6.3.1 Rest of South and Central America Wireless POS Terminal Market by Component
10.5.6.3.2 Rest of South and Central America Wireless POS Terminal Market by Type
10.5.6.3.3 Rest of South and Central America Wireless POS Terminal Market by Industry 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. WIRELESS POS TERMINAL MARKET, KEY COMPANY PROFILES
12.1. BBPOS LIMITED
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. CASTLES TECHNOLOGY CO. LTD.
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. DIEBOLD NIXDORF
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. ELAVON INC.
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. FIRST DATA CORPORATION
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. INGENICO GROUP
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. NCR 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. PAX GLOBAL TECHNOLOGY LIMITED
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. SQUIRREL SYSTEMS
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. VERIFONE HOLDINGS INC.
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. BBPOS Limited
2. Castles Technology Co., Ltd.
3. Diebold Nixdorf
4. Elavon Inc.
5. First Data Corporation
6. Ingenico Group
7. NCR Corporation
8. PAX Global Technology Limited
9. Squirrel Systems
10. VeriFone Holdings, 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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