The Artificial Stone Market is expected to register a CAGR of 6% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Type (Quartz, Marble, Sintered Stone, Others). The report further presents analysis based on,Application (Wall Cladding, Flooring, Countertop, Stone Paving, Others). Based on End Use report is segmented into (Commercial, Residential, and Industrial);. The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Artificial Stone Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Artificial Stone Market Segmentation
Type- Quartz
- Marble
- Sintered Stone
- Wall Cladding
- Flooring
- Countertop
- Stone Paving
Strategic Insights
Artificial Stone Market Growth Drivers- Preference for Aesthetic Appeal: Many factors are fueling the growth of the artificial stone market. The foremost being its decorative aspect and its customizability. More and more homeowners and designers gravitate towards artificial stone than natural stone because they have a wide range of colors, designs, and textures of their products. Such expansion enable different designs depending on the preferences available and it also helps improve the aesthetic value of homes and other business structures.
- Customization Enhances Popularity of Artificial Stone: The aspect of customization makes artificial stone even more appealing. Companies can design so that clients pick the desired degree of finishes, designs and shapes. Such importance of customization caters to all consumers preferences and needs therefore making artificial stone suitable for use on many places such as incorporating it in kitchen countertops or even on floors.
- Advancements in Manufacturing Improve Quality and Durability: In addition to that, the quality and the outlook of the artificial stone has also improved because of the advancement in the manufacturing technology. This way, the products are made to resemble natural stones but are more durable with properties that require less care. Looking at the market trends, a consumer today wants functionality and beauty in one product, and therefore artificial stones are ideal solutions since they are not only functional but attractive too.
- Cost Effectiveness as Compared to Natural Stone: Cost-effectiveness is turning out to be one of the key factors which the artificial stone market is experiencing growth. Due to high costs incurred in constructing and renovating buildings, homeowners and businesses are on the look out for cheaper replacements. The cheaper alternative which is most loved and appreciated by persons who want quality without paying an arm and a leg is Artificial stone since it can imitate the nature of real stone.
- Low Maintenance Costs Make Artificial Stone Attractive: Another factor that makes artificial stone a low-cost material is also the maintenance cost. This is unlike natural stone that may come with a lot of drawbacks, this is because it is it easier to clean and does not need much attention. This aspect appeals to the people who are looking to save costs over time, and so the sales of these items increase.
- Technological Advancements Drive Competitive Pricing in Artificial Stone Production: The production process of an artificial stone has also matured enabling mass production to take place at very competitive prices. Technological advancements have improved how raw materials are processed inclusively reduced wastages allowing proper pricing of products without compromising on their standards. Thus, these manufacturers can take on a larger percentage of the market.
- Lower Installation and Maintenance Costs: Emerging as a pivotal factor in the growth of adoption of artificial stones are the lower installation and maintenance costs. Homeowners and business entities alike are looking for materials that are pleasing to the eye and cost-effective at the same time. Artificial stone has the advantage of being easy to install thus minimizing labor costs which makes it a preferred option where budgets or timelines are limited for the project.
- Durability of Artificial Stone Offers Long-Term Value: Artificial stone’s durability is also a factor that adds value for money with its long term use. Natural stone, for instance, could chip or even stain, but such is not the case with artificial stones that are built to sustain such effects. This strength reduces the rate of repairs or even replacements hence becoming favorable for the end user in the long run.
- Ease of Maintenance Makes Artificial Stone a Popular Choice: Similarly, artificial stone is associated with significantly lower maintenance needs than the conventional materials. There is no sealing nor any cleansing products that are essential, hence it is easy and cheap to maintain. This kind of ease of maintenance would be appreciated by busy homeowners and commercial property managers thus increasing its attractiveness in the market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Artificial Stone Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Artificial Stone Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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.
Frequently Asked Questions
Based on geography, Asia Pacific held the largest share of the artificial stone market.
#Cost Effectiveness as Compared to Natural Stone is expected to be the key market trends.
Preference for Aesthetic Appeal is driving the market growth
A.St.A. WORLD-WIDE, Classic Marble Company Pvt Ltd, Diresco are some of the key players operating in the artificial stone market
Based on type, sintered stone is expected to witness the fastest growth during the forecast period
The Artificial Stone Market is estimated to witness a CAGR of 6% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Artificial Stone Market - By Type
1.3.2 Artificial Stone Market - By Application
1.3.3 Artificial Stone Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ARTIFICIAL STONE 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. ARTIFICIAL STONE 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. ARTIFICIAL STONE MARKET - GLOBAL MARKET ANALYSIS
6.1. ARTIFICIAL STONE - GLOBAL MARKET OVERVIEW
6.2. ARTIFICIAL STONE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. ARTIFICIAL STONE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. RANSOM STONE
7.3.1. Overview
7.3.2. Ransom Stone Market Forecast and Analysis
7.4. CONCRETE BLOCK
7.4.1. Overview
7.4.2. Concrete Block Market Forecast and Analysis
7.5. ARTIFICIAL MARBLE
7.5.1. Overview
7.5.2. Artificial Marble Market Forecast and Analysis
7.6. BITUMINOUS STONE
7.6.1. Overview
7.6.2. Bituminous Stone Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. ARTIFICIAL STONE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. CONSTRUCTION AND DECORATION
8.3.1. Overview
8.3.2. Construction and Decoration Market Forecast and Analysis
8.4. FURNITURE
8.4.1. Overview
8.4.2. Furniture Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. ARTIFICIAL STONE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Artificial Stone Market Overview
9.1.2 North America Artificial Stone Market Forecasts and Analysis
9.1.3 North America Artificial Stone Market Forecasts and Analysis - By Type
9.1.4 North America Artificial Stone Market Forecasts and Analysis - By Application
9.1.5 North America Artificial Stone Market Forecasts and Analysis - By Countries
9.1.5.1 United States Artificial Stone Market
9.1.5.1.1 United States Artificial Stone Market by Type
9.1.5.1.2 United States Artificial Stone Market by Application
9.1.5.2 Canada Artificial Stone Market
9.1.5.2.1 Canada Artificial Stone Market by Type
9.1.5.2.2 Canada Artificial Stone Market by Application
9.1.5.3 Mexico Artificial Stone Market
9.1.5.3.1 Mexico Artificial Stone Market by Type
9.1.5.3.2 Mexico Artificial Stone Market by Application
9.2. EUROPE
9.2.1 Europe Artificial Stone Market Overview
9.2.2 Europe Artificial Stone Market Forecasts and Analysis
9.2.3 Europe Artificial Stone Market Forecasts and Analysis - By Type
9.2.4 Europe Artificial Stone Market Forecasts and Analysis - By Application
9.2.5 Europe Artificial Stone Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Artificial Stone Market
9.2.5.1.1 Germany Artificial Stone Market by Type
9.2.5.1.2 Germany Artificial Stone Market by Application
9.2.5.2 France Artificial Stone Market
9.2.5.2.1 France Artificial Stone Market by Type
9.2.5.2.2 France Artificial Stone Market by Application
9.2.5.3 Italy Artificial Stone Market
9.2.5.3.1 Italy Artificial Stone Market by Type
9.2.5.3.2 Italy Artificial Stone Market by Application
9.2.5.4 United Kingdom Artificial Stone Market
9.2.5.4.1 United Kingdom Artificial Stone Market by Type
9.2.5.4.2 United Kingdom Artificial Stone Market by Application
9.2.5.5 Russia Artificial Stone Market
9.2.5.5.1 Russia Artificial Stone Market by Type
9.2.5.5.2 Russia Artificial Stone Market by Application
9.2.5.6 Rest of Europe Artificial Stone Market
9.2.5.6.1 Rest of Europe Artificial Stone Market by Type
9.2.5.6.2 Rest of Europe Artificial Stone Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Artificial Stone Market Overview
9.3.2 Asia-Pacific Artificial Stone Market Forecasts and Analysis
9.3.3 Asia-Pacific Artificial Stone Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Artificial Stone Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Artificial Stone Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Artificial Stone Market
9.3.5.1.1 Australia Artificial Stone Market by Type
9.3.5.1.2 Australia Artificial Stone Market by Application
9.3.5.2 China Artificial Stone Market
9.3.5.2.1 China Artificial Stone Market by Type
9.3.5.2.2 China Artificial Stone Market by Application
9.3.5.3 India Artificial Stone Market
9.3.5.3.1 India Artificial Stone Market by Type
9.3.5.3.2 India Artificial Stone Market by Application
9.3.5.4 Japan Artificial Stone Market
9.3.5.4.1 Japan Artificial Stone Market by Type
9.3.5.4.2 Japan Artificial Stone Market by Application
9.3.5.5 South Korea Artificial Stone Market
9.3.5.5.1 South Korea Artificial Stone Market by Type
9.3.5.5.2 South Korea Artificial Stone Market by Application
9.3.5.6 Rest of Asia-Pacific Artificial Stone Market
9.3.5.6.1 Rest of Asia-Pacific Artificial Stone Market by Type
9.3.5.6.2 Rest of Asia-Pacific Artificial Stone Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Artificial Stone Market Overview
9.4.2 Middle East and Africa Artificial Stone Market Forecasts and Analysis
9.4.3 Middle East and Africa Artificial Stone Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Artificial Stone Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Artificial Stone Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Artificial Stone Market
9.4.5.1.1 South Africa Artificial Stone Market by Type
9.4.5.1.2 South Africa Artificial Stone Market by Application
9.4.5.2 Saudi Arabia Artificial Stone Market
9.4.5.2.1 Saudi Arabia Artificial Stone Market by Type
9.4.5.2.2 Saudi Arabia Artificial Stone Market by Application
9.4.5.3 U.A.E Artificial Stone Market
9.4.5.3.1 U.A.E Artificial Stone Market by Type
9.4.5.3.2 U.A.E Artificial Stone Market by Application
9.4.5.4 Rest of Middle East and Africa Artificial Stone Market
9.4.5.4.1 Rest of Middle East and Africa Artificial Stone Market by Type
9.4.5.4.2 Rest of Middle East and Africa Artificial Stone Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Artificial Stone Market Overview
9.5.2 South and Central America Artificial Stone Market Forecasts and Analysis
9.5.3 South and Central America Artificial Stone Market Forecasts and Analysis - By Type
9.5.4 South and Central America Artificial Stone Market Forecasts and Analysis - By Application
9.5.5 South and Central America Artificial Stone Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Artificial Stone Market
9.5.5.1.1 Brazil Artificial Stone Market by Type
9.5.5.1.2 Brazil Artificial Stone Market by Application
9.5.5.2 Argentina Artificial Stone Market
9.5.5.2.1 Argentina Artificial Stone Market by Type
9.5.5.2.2 Argentina Artificial Stone Market by Application
9.5.5.3 Rest of South and Central America Artificial Stone Market
9.5.5.3.1 Rest of South and Central America Artificial Stone Market by Type
9.5.5.3.2 Rest of South and Central America Artificial Stone Market by Application
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. ARTIFICIAL STONE MARKET, KEY COMPANY PROFILES
11.1. A.ST.A. WORLD-WIDE
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. CLASSIC MARBLE COMPANY PVT LTD
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. DIRESCO
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. GRANITE AND MARBLE SPECIALTIES
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. LG HAUSYS
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. POKARNA
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. QUARTZFORMS
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. SANTA MARGHERITA S.P.A
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. SILESTONE
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. STONE ITALIANA S.P.A.
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
11.11. JOHNSON MARBLE AND QUARTZ
11.11.1. Key Facts
11.11.2. Business Description
11.11.3. Products and Services
11.11.4. Financial Overview
11.11.5. SWOT Analysis
11.11.6. Key Developments
11.12. VICOSTONE
11.12.1. Key Facts
11.12.2. Business Description
11.12.3. Products and Services
11.12.4. Financial Overview
11.12.5. SWOT Analysis
11.12.6. Key Developments
11.13. COSENTINO S.A.
11.13.1. Key Facts
11.13.2. Business Description
11.13.3. Products and Services
11.13.4. Financial Overview
11.13.5. SWOT Analysis
11.13.6. Key Developments
11.14. TECHNISTONE S.R.O
11.14.1. Key Facts
11.14.2. Business Description
11.14.3. Products and Services
11.14.4. Financial Overview
11.14.5. SWOT Analysis
11.14.6. Key Developments
11.15. RMS
11.15.1. Key Facts
11.15.2. Business Description
11.15.3. Products and Services
11.15.4. Financial Overview
11.15.5. SWOT Analysis
11.15.6. Key Developments
11.16. TOPZSTONE
11.16.1. Key Facts
11.16.2. Business Description
11.16.3. Products and Services
11.16.4. Financial Overview
11.16.5. SWOT Analysis
11.16.6. Key Developments
11.17. VIATERA USA
11.17.1. Key Facts
11.17.2. Business Description
11.17.3. Products and Services
11.17.4. Financial Overview
11.17.5. SWOT Analysis
11.17.6. Key Developments
11.18. PLAMAR USA
11.18.1. Key Facts
11.18.2. Business Description
11.18.3. Products and Services
11.18.4. Financial Overview
11.18.5. SWOT Analysis
11.18.6. Key Developments
11.19. PALASH INTERNATIONAL
11.19.1. Key Facts
11.19.2. Business Description
11.19.3. Products and Services
11.19.4. Financial Overview
11.19.5. SWOT Analysis
11.19.6. Key Developments
11.20. CAESARSTONE LTD.
11.20.1. Key Facts
11.20.2. Business Description
11.20.3. Products and Services
11.20.4. Financial Overview
11.20.5. SWOT Analysis
11.20.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. A.St.A. WORLD-WIDE
2. Classic Marble Company Pvt Ltd
3. Diresco
4. Granite and Marble Specialties
5. LG HAUSYS
6. POKARNA
7. Quartzforms
8. Santa Margherita S.p.a
9. Silestone
10. Stone Italiana S.p.A.
11. Johnson Marble and Quartz
12. Vicostone
13. Cosentino S.A.
14. Technistone S.R.O
15. RMS
16. Topzstone
17. Viatera USA
18. PLAMAR USA
19. Palash International
20.CaesarStone Ltd.
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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