The India & South-East Asia air cargo security and screening systems market is expected to grow from US$ 46.2 million in 2021 to US$ 87.9 million by 2028; it is estimated to grow at a CAGR of 9.6% from 2021 to 2028.
Governments across India & South-East Asia are bringing advancements in the aviation sector and associated industries. Growing investments in the construction of new airports and expansion of the existing ones encourage the adoption of enhanced solutions for better operations. The increasing number of airports propels the growth of the air cargo business. Therefore, the need for deploying security and screening systems in airports to detect narcotics, explosive objects, and metal & contraband is increasing.
For instance, in August 2020, Singapore Changi Airport extended its partnership with Smiths Detection to supply advanced explosives detection systems. For the Terminal 2 Parcel Handling System redevelopment, the airport installed 20 Smiths Detection HI-SCAN 10080 XCT automatic explosives detection systems (EDS). Similarly, several metal detectors were installed at Tan Son Nhat International Airport for cargo detection and passengers screening in April 2021. Additionally, in September 2018, Vietnam’s Noi Bai International Airport installed an X-ray machine provided by the US. The donation was within the framework of the Export Control and Related Border Security (EXBS) Program, with a total cost of nearly US$ 200,000. The initiative was done to strengthen Vietnam's capabilities to prevent unauthorized trading of weapons of mass destruction from entering the country. Indian & South-East Asian countries are increasingly installing x-ray systems, ETD (explosives trace detectors), and EDS (explosives detection system) technology to detect narcotics, explosive objects, and metal & contraband to reduce the risk of terror attacks. Thus, the deployment of security and screening systems at airports across the region fuels the growth of the India & South-East Asia air cargo security and screening systems market
Impact of COVID-19 Pandemic on India Air Cargo Security and Screening Systems Market
The demand for air cargo was unaffected by the lockdowns in India, and the operating conditions remain supportive for air cargo. The air cargo and freighter operators have reported brisk business owing to the increased transportation of COVID-19 related essentials by air. For instance, SpiceExpress (an air cargo subsidiary of SpiceJet) is encouraging performance as its fleet is increasingly being deployed to transport essential items and medical goods to deal with the COVID-19 pandemic. The cargo delivered to various parts of the country includes COVID-19 related medical equipment, reagents, enzymes, masks, testing kits & PPE, gloves & other accessories. Further, the ministry of civil aviation in India has undertaken continuous efforts at the policy level and ground level to add substantially to the country’s fight against COVID-19. For instance, Air India and IAF (Indian Air Force) collaborated for supplying medical equipment across Ladakh, Imphal, Dimapur, Gangtok, Bagdogra, Guwahati, Chennai, and Port Blair. A dedicated medical air cargo-related website Lifeline Udan has been launched and is functional. Therefore, with the growing demand for air cargo for supplying medical equipment, the requirement for security and screening systems has also increased. Thus, the air cargo business in India has reflected positive market growth.
India & South-East Asia Air Cargo Security and Screening Systems Market Revenue and Forecast to 2028 (US$ Million)
India & South-East Asia Air Cargo Security and Screening Systems Market Segmentation
India & South-East Asia Air Cargo Security and Screening Systems Market – by Size
- Small Parcel
- Break and Pallet Cargo
- Oversized Cargo
India & South-East Asia Air Cargo Security and Screening Systems Market – by Technology
- X-ray systems
- ETD
- EDS
- Others
India & South-East Asia Air Cargo Security and Screening Systems Market – by Application
- Narcotics detection
- Explosive detection
- Metal and Contraband Detection
- Others
India & South-East Asia Air Cargo Security and Screening Systems Market - Companies Mentioned
- Astrophysics Inc.
- Dhonaadhi Hitec Innovations
- Krystalvision Image Systems Pvt. Ltd.
- Nuctech Company Limited
- Rapiscan Systems, Inc.
- Safran
- VOTI Detection Inc.
- Safeway Inspection System Limited
- Smiths Detection Group Ltd. (Smiths Group plc)
- FocusTest Inc.
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 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. India & South-East Asia Air Cargo Security and Screening Systems Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 India – PEST Analysis
4.2.2 South-East Asia – PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. India & South-East Asia Air Cargo Security and Screening Systems Market – Key Market Dynamics. Error! Bookmark not defined.
6. India & South-East Air Cargo Security and Screening Systems Market – Key Market Dynamics
6.1 Market Drivers
6.1.1 Increasing Deployment of Security and Screening Systems at Airport
6.1.2 Constant Need to Transport Temperature-Sensitive Products
6.2 Market Restraints
6.2.1 Lack of Technical Expertise and Attack on Airport IT Infrastructure
6.3 Market Opportunities
6.3.1 Growing Safety Concerns due to Rising Incidence of Terrorism
6.4 Future Trends
6.4.1 Rapid Adoption of E-commerce
6.5 Impact Analysis of Drivers and Restraints
7. Air Cargo Security and Screening Systems Market – India & South-East Asia Market Analysis
7.1 Air Cargo Security and Screening Systems Market - India & South-East Asia Overview
7.2 India & South-East Asia: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
7.3 India & South-East Asia: Air Cargo Security and Screening Systems Market: Market Positioning – Five Key Players
8. India & South-East Asia Air Cargo Security and Screening Systems Market Analysis –By Size
8.1 Overview
8.2 India & South-East Asia Air Cargo Security and Screening Systems Market Breakdown, By Size, 2020 & 2028
8.3 Small Parcel
8.3.1 Overview
8.3.2 Small Parcel: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
8.3.3 Small Parcel: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Break and Pallet Cargo
8.4.1 Overview
8.4.2 Break and Pallet Cargo: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
8.4.3 Break and Pallet Cargo: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Oversized Cargo
8.5.1 Overview
8.5.2 Oversized Cargo: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
8.5.3 Oversized Cargo: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
9. India & South-East Asia Air Cargo Security and Screening Systems Market Analysis – By Technology
9.1 Overview
9.2 India & South-East Asia Air Cargo Security and Screening Systems Market Breakdown, By Technology, 2020 & 2028
9.3 X-ray systems
9.3.1 Overview
9.3.2 X-ray systems: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
9.4 ETD
9.4.1 Overview
9.4.2 ETD: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
9.5 EDS
9.5.1 Overview
9.5.2 EDS: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
10. India & South-East Asia Air Cargo Security and Screening Systems Market Analysis – By Application
10.1 Overview
10.2 India & South-East Asia Air Cargo Security and Screening Systems Market Breakdown, By Application, 2020 & 2028
10.3 Narcotics Detection
10.3.1 Overview
10.3.2 Narcotics Detection: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Explosive Detection
10.4.1 Overview
10.4.2 Explosive Detection: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.5 Metal and Contraband Detection
10.5.1 Overview
10.5.2 Metal and Contraband Detection: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.6 Others
10.6.1 Overview
10.6.2 Others: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
11. India & South-East Asia Air Cargo Security and Screening Systems Market – Country Analysis
11.1 Overview
11.1.1 India & South-East Asia: Air Cargo Security and Screening Systems Market- by Key Country
11.1.1.1 India: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 India: Air Cargo Security and Screening Systems Market, by Size
11.1.1.1.2 India: Air Cargo Security and Screening Systems Market, by Technology
11.1.1.1.3 India: Air Cargo Security and Screening Systems Market, by Application
11.1.1.2 Indonesia: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 Indonesia: Air Cargo Security and Screening Systems Market, by Size
11.1.1.2.2 Indonesia: Air Cargo Security and Screening Systems Market, by Technology
11.1.1.2.3 Indonesia: Air Cargo Security and Screening Systems Market, by Application
11.1.1.3 Singapore: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 Singapore: Air Cargo Security and Screening Systems Market, by Size
11.1.1.3.2 Singapore: Air Cargo Security and Screening Systems Market, by Technology
11.1.1.3.3 Singapore: Air Cargo Security and Screening Systems Market, by Application
11.1.1.4 Malaysia: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.4.1 Malaysia: Air Cargo Security and Screening Systems Market, by Size
11.1.1.4.2 Malaysia: Air Cargo Security and Screening Systems Market, by Technology
11.1.1.4.3 Malaysia: Air Cargo Security and Screening Systems Market, by Application
11.1.1.5 Vietnam: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.5.1 Vietnam: Air Cargo Security and Screening Systems Market, by Size
11.1.1.5.2 Vietnam: Air Cargo Security and Screening Systems Market, by Technology
11.1.1.5.3 Vietnam: Air Cargo Security and Screening Systems Market, by Application
11.1.1.6 Thailand: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.6.1 Thailand: Air Cargo Security and Screening Systems Market, by Size
11.1.1.6.2 Thailand: Air Cargo Security and Screening Systems Market, by Technology
11.1.1.6.3 Thailand: Air Cargo Security and Screening Systems Market, by Application
11.1.1.7 Rest of South-East Asia: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.7.1 Rest of South-East Asia: Air Cargo Security and Screening Systems Market, by Size
11.1.1.7.2 Rest of India & South-East Asia: Air Cargo Security and Screening Systems Market, by Technology
11.1.1.7.3 Rest of India & South-East Asia: Air Cargo Security and Screening Systems Market, by Application
12. India & South-East Asia Air Cargo Security and Screening Systems Market - COVID-19 Impact Analysis
12.1 India: Impact Assessment of COVID-19 Pandemic
12.2 South-East Asia: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Overview
14. Company Profiles
14.1 Astrophysics Inc.
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Dhonaadhi Hitec Innovations
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Krystalvision Image Systems Pvt. Ltd.
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Nuctech Company Limited
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Rapiscan Systems, Inc.
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Safran
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 VOTI Detection Inc.
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Safeway Inspection System Limited
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Smiths Detection Group Ltd. (Smiths Group plc)
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue, and Forecast to 2028 (US$ Million)
Table 2. India: Air Cargo Security and Screening Systems Market, by Size –Revenue and Forecast to 2028 (US$ Million)
Table 3. India: Air Cargo Security and Screening Systems Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 4. India: Air Cargo Security and Screening Systems Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 5. Indonesia: Air Cargo Security and Screening Systems Market, by Size –Revenue and Forecast to 2028 (US$ Million)
Table 6. Indonesia: Air Cargo Security and Screening Systems Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 7. Indonesia: Air Cargo Security and Screening Systems Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 8. Singapore: Air Cargo Security and Screening Systems Market, by Size –Revenue and Forecast to 2028 (US$ Million)
Table 9. Singapore: Air Cargo Security and Screening Systems Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 10. Singapore: Air Cargo Security and Screening Systems Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 11. Malaysia: Air Cargo Security and Screening Systems Market, by Size –Revenue and Forecast to 2028 (US$ Million)
Table 12. Malaysia: Air Cargo Security and Screening Systems Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 13. Malaysia: Air Cargo Security and Screening Systems Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 14. Vietnam: Air Cargo Security and Screening Systems Market, by Size –Revenue and Forecast to 2028 (US$ Million)
Table 15. Vietnam: Air Cargo Security and Screening Systems Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 16. Vietnam: Air Cargo Security and Screening Systems Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 17. Thailand: Air Cargo Security and Screening Systems Market, by Size –Revenue and Forecast to 2028 (US$ Million)
Table 18. Thailand: Air Cargo Security and Screening Systems Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 19. Thailand: Air Cargo Security and Screening Systems Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 20. Rest of South-East Asia: Air Cargo Security and Screening Systems Market, by Size –Revenue and Forecast to 2028 (US$ Million)
Table 21. Rest of India & South-East Asia: Air Cargo Security and Screening Systems Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 22. Rest of India & South-East Asia: Air Cargo Security and Screening Systems Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 23. List of Abbreviation
LIST OF FIGURES
Figure 1. India & South-East Asia: Air Cargo Security and Screening Systems Market Segmentation
Figure 2. India & South-East Asia Air Cargo Security and Screening Systems Market Segmentation – By Country
Figure 3. The India & South-East Asia Air Cargo Security and Screening Systems Market Overview
Figure 4. Break & Pallet Cargo Held the Largest Market Share in 2020
Figure 5. X-ray Systems Held the La0rgest Market Share in 2020
Figure 6. Explosives Held the Largest Market Share in 2020
Figure 7. India – PEST Analysis
Figure 8. South-East Asia – PEST Analysis
Figure 9. India & South-East Asia Air Cargo Security and Screening Systems Market– Ecosystem Analysis
Figure 10. Expert Opinion
Figure 11. India & South-East Asia Air Cargo Security and Screening Systems Market: Impact Analysis of Drivers and Restraints
Figure 12. India & South-East Asia: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. India & South-East Asia Air Cargo Security and Screening Systems Market Breakdown, By size, 2020 & 2028 (%)
Figure 14. India & South-East Asia Air Cargo Security and Screening Systems Market Breakdown, By Technology, 2020 & 2028 (%)
Figure 15. X-ray systems: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. ETD: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. EDS: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Others: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. India & South-East Asia Air Cargo Security and Screening Systems Market Breakdown, By Application, 2020 & 2028 (%)
Figure 20. Narcotics Detection: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Explosive Detection: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Metal and Contraband Detection: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Others: India & South-East Asia Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. India & South-East Asia: Air Cargo Security and Screening Systems Market Revenue Share, By Key Country (2020 and 2028)
Figure 25. India: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Indonesia: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Singapore: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Malaysia: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Vietnam: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Thailand: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Rest of South-East Asia: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Impact of COVID-19 Pandemic in Indian Market
Figure 33. Impact of COVID-19 Pandemic in South-East Asia Country Markets
The List of Companies - India & South-East Asia Air Cargo Security and Screening Systems Market
- Astrophysics Inc.
- Dhonaadhi Hitec Innovations
- Krystalvision Image Systems Pvt. Ltd.
- Nuctech Company Limited
- Rapiscan Systems, Inc.
- Safran
- VOTI Detection Inc.
- Safeway Inspection System Limited
- Smiths Detection Group Ltd. (Smiths Group plc)
- FocusTest 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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