The Asia Pacific weather forecasting services market is expected to grow from US$ 298.87 million in 2021 to US$ 592.96 million by 2028; it is estimated to grow at a CAGR of 10.3% from 2021 to 2028.
Weather forecasting is a consulting service that delivers real-time forecasts and aids in efficient day-to-day planning and informed decision-making in various industrial settings. Advanced weather notifications enable enterprises to plan weather-sensitive operations ahead of time, ensuring safety, efficiency, better sustainability, and significant cost savings. Weather forecasting services are used extensively in various industries, including oil and gas, renewable energy, shipping, media, agriculture, aviation, utilities, and construction. Over the projection period, the renewable energy sector is expected to dominate the market, owing to increased electricity consumption and energy requirements in various end-use industries. Various industrial enterprises are being encouraged to cut their greenhouse gas emissions to produce clean energy due to further strong government measures aimed at substituting non-renewable resources with renewable energy. During the forecast period, these factors are anticipated to increase demand for weather forecasting services.
The government's containment measure in this region has negatively affected several industrial operations in the region. China is the leading manufacturing country in this region and is among the worst-hit countries along with India. This has ultimately impacted the production across various sectors. However, the increasing environmental concerns are still supporting the need for weather forecasting services in Asia Pacific. Further, due the interruption in supply chain and logistics, the procurement rate of various electronics equipment used for building weather forecasting equipment/systems, has been impacted severely. India, South Korea, Japan, Vietnam, and other Asian countries have witnessed a sharp decline in the production operation across various manufacturing units. The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries in the region. For instance, China is the Asia Pacific hub of manufacturing and largest raw material supplier for various industries, and it is one of the worst affected COVID-19 countries. Hence, the ongoing disruptions in supply of raw materials and components are expected to impact the growth of the weather forecasting services market in coming quarters in Asia Pacific.
With the new advancements and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific weather forecasting services market. With a constant increase in the temperature and the air becoming warmer, water evaporation has intensified, leading to frequent downpours and heavy snowfall. This heavy precipitation is not spread evenly across the region with some places not getting required amount of precipitation. Since climate change causes a shift in air and ocean currents, it changes weather patterns. The rising incidence of natural disasters due to undesired climatic changes and subsequent security concerns has surfaced as the key factor behind the growth in the Asia Pacific weather forecasting services market. Advanced and reliable weather forecasting achieved within the stipulated time can lead to significant cost savings and also help with protection against catastrophes and natural disasters. The technological advancements in computing systems, such as advanced data analytics, model development, and machine learning tools and techniques, are likely to boost he demand for weather forecasting services market.
Asia Pacific Weather Forecasting Services Market Revenue and Forecast to 2028 (US$ Million)
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Asia Pacific Weather Forecasting Services Market Segmentation
Asia Pacific Weather Forecasting Services Market – By Industry
- Agriculture
- Aviation
- Marine
- Transport and Logistics
- Energy and Utilities
- Oil and Gas
- Media
- Insurance
- Retail
- Construction and Mining
- Others
Asia Pacific Weather Forecasting Services Market – By Purpose
- Operational Efficiency
- Safety
- Others
Asia Pacific Weather Forecasting Services Market– By Forecasting Type
- Nowcast
- Short Range
- Medium Range
- Long Range
Asia Pacific Weather Forecasting Services Market – By Organization Size
- Large Enterprises
- Small and Medium-Sized Enterprises
Asia Pacific Weather Forecasting Services Market – By Country
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
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
1.3.1 Asia Pacific Weather Forecasting Services Market – By Industry
1.3.2 Asia Pacific Weather Forecasting Services Market – By Purpose
1.3.3 Asia Pacific Weather Forecasting Services Market – By Forecasting Type
1.3.4 Asia Pacific Weather Forecasting Services Market – By Organization Size
1.3.5 Asia Pacific Weather Forecasting Services Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Weather Forecasting Services Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
4.5 Premium Insights
4.5.1 Overview
4.5.1.1 Weatherbit.io
4.5.1.2 AccuWeather
4.5.1.3 Weather Underground
4.5.1.4 World Climate Service
4.5.1.5 Weather Source
4.5.1.6 Meteomatics
5. Weather Forecasting Services Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Fluctuation in Climate Leading to Uncertainties in Rainfall
5.1.2 Significant Investments along with Government Support
5.2 Market Restraints
5.2.1 Incrementing Complications Related to Weather Forecasting Models
5.3 Market Opportunities
5.3.1 Heightening Use of Technologically Advanced Systems Among Airports
5.4 Future Trends
5.4.1 Development of Advanced Technologies in Weather Forecasting Services
5.5 Impact Analysis of Drivers and Restraints
6. Weather Forecasting Services Market – Asia Pacific Market Analysis
6.1 Asia Pacific Weather Forecasting Services Market Overview
6.2 Asia Pacific Weather Forecasting Services Market Forecast and Analysis
7. Asia Pacific Weather Forecasting Services Market Analysis – By Industry
7.1 Overview
7.2 Weather Forecasting Services, by Industry (2020 and 2028)
7.3 Agriculture
7.3.1 Overview
7.3.2 Agriculture: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Aviation
7.4.1 Overview
7.4.2 Aviation: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Marine
7.5.1 Overview
7.5.2 Marine: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Transport and Logistics
7.6.1 Overview
7.6.2 Transport and Logistics: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
7.7 Energy and Utilities
7.7.1 Overview
7.7.2 Energy and Utilities: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
7.8 Oil and Gas
7.8.1 Overview
7.8.2 Oil and Gas: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
7.9 Media
7.9.1 Overview
7.9.2 Media: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
7.10 Insurance
7.10.1 Overview
7.10.2 Insurance: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
7.11 Retail
7.11.1 Overview
7.11.2 Retail: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
7.12 Construction and Mining
7.12.1 Overview
7.12.2 Construction and Mining: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
7.13 Others
7.13.1 Overview
7.13.2 Others: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
8. Asia Pacific Weather Forecasting Services Market Analysis – By Purpose
8.1 Overview
8.2 Weather Forecasting Services, by Purpose (2020 and 2028)
8.3 Operational Efficiency
8.3.1 Overview
8.3.2 Operational Efficiency: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Safety
8.4.1 Overview
8.4.2 Safety: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
9. Asia Pacific Weather Forecasting Services Market Analysis – By Forecasting Type
9.1 Overview
9.2 Weather Forecasting Services, by Forecasting Type (2020 and 2028)
9.3 Nowcast
9.3.1 Overview
9.3.2 Nowcast: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Short-Range
9.4.1 Overview
9.4.2 Short-Range: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Medium-Range
9.5.1 Overview
9.5.2 Medium-Range: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Long-Range
9.6.1 Overview
9.6.2 Long-Range: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
10. Asia Pacific Weather Forecasting Services Market Analysis – By Organization Size
10.1 Overview
10.2 Weather Forecasting Services, by Organization Size (2020 and 2028)
10.3 Small and Medium-Sized Enterprises
10.3.1 Overview
10.3.2 Small and Medium-Sized Enterprises: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Large Enterprises
10.4.1 Overview
10.4.2 Large Enterprises: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
11. Asia Pacific Weather Forecasting Services Market – Country Analysis
11.1 APAC: Weather Forecasting Services Market
11.1.1 APAC: Weather Forecasting Services Market- by Key Country
11.1.1.1 China: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 China: Weather Forecasting Services Market- by Industry
11.1.1.1.2 China: Weather Forecasting Services Market- By Purpose
11.1.1.1.3 China: Weather Forecasting Services Market- By Forecasting Type
11.1.1.1.4 China: Weather Forecasting Services Market- By Organization Size
11.1.1.2 India: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 India: Weather Forecasting Services Market- by Industry
11.1.1.2.2 India: Weather Forecasting Services Market- By Purpose
11.1.1.2.3 India: Weather Forecasting Services Market- By Forecasting Type
11.1.1.2.4 India: Weather Forecasting Services Market- By Organization Size
11.1.1.3 Japan: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 Japan: Weather Forecasting Services Market- by Industry
11.1.1.3.2 Japan: Weather Forecasting Services Market- By Purpose
11.1.1.3.3 Japan: Weather Forecasting Services Market- By Forecasting Type
11.1.1.3.4 Japan: Weather Forecasting Services Market- By Organization Size
11.1.1.4 Australia: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.4.1 Australia: Weather Forecasting Services Market- by Industry
11.1.1.4.2 Australia: Weather Forecasting Services Market- By Purpose
11.1.1.4.3 Australia: Weather Forecasting Services Market- By Forecasting Type
11.1.1.4.4 Australia: Weather Forecasting Services Market- By Organization Size
11.1.1.4.5 South Korea: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.4.6 South Korea: Weather Forecasting Services Market- by Industry
11.1.1.4.7 South Korea: Weather Forecasting Services Market- By Purpose
11.1.1.4.8 South Korea: Weather Forecasting Services Market- By Forecasting Type
11.1.1.4.9 South Korea: Weather Forecasting Services Market- By Organization Size
11.1.1.5 Rest of APAC: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.5.1 Rest of APAC: Weather Forecasting Services Market- by Industry
11.1.1.5.2 Rest of APAC: Weather Forecasting Services Market- By Purpose
11.1.1.5.3 Rest of APAC: Weather Forecasting Services Market- By Forecasting Type
11.1.1.5.4 Rest of APAC: Weather Forecasting Services Market- By Organization Size
12. Asia Pacific Weather Forecasting Services Market - COVID-19 Impact Analysis
12.1 Asia Pacific
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Merger and Acquisition
14. Company Profiles
14.1 AccuWeather, 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 IBM Corporation
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 DTN
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 StormGeo
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 Fugro
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 ENAV S.p.A.
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 The Tomorrow Companies 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 BMT Group Ltd.
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
15. Appendix
15.1 About The Insight Partners
15.2 Glossary
LIST OF TABLES
Table 1. Asia Pacific Weather Forecasting Services Market, Revenue and Forecast, 2019–2028 (US$ Mn)
Table 2. China: Weather Forecasting Services Market- by Industry –Revenue and Forecast to 2028 (US$ Million)
Table 3. China: Weather Forecasting Services Market- By Purpose –Revenue and Forecast to 2028 (US$ Million)
Table 4. China: Weather Forecasting Services Market- By Forecasting Type –Revenue and Forecast to 2028 (US$ Million)
Table 5. China: Weather Forecasting Services Market- By Organization Size –Revenue and Forecast to 2028 (US$ Million)
Table 6. India: Weather Forecasting Services Market- by Industry –Revenue and Forecast to 2028 (US$ Million)
Table 7. India: Weather Forecasting Services Market- By Purpose –Revenue and Forecast to 2028 (US$ Million)
Table 8. India: Weather Forecasting Services Market- By Forecasting Type –Revenue and Forecast to 2028 (US$ Million)
Table 9. India: Weather Forecasting Services Market- By Organization Size –Revenue and Forecast to 2028 (US$ Million)
Table 10. Japan: Weather Forecasting Services Market- by Industry –Revenue and Forecast to 2028 (US$ Million)
Table 11. Japan: Weather Forecasting Services Market- By Purpose –Revenue and Forecast to 2028 (US$ Million)
Table 12. Japan: Weather Forecasting Services Market- By Forecasting Type –Revenue and Forecast to 2028 (US$ Million)
Table 13. Japan: Weather Forecasting Services Market- By Organization Size –Revenue and Forecast to 2028 (US$ Million)
Table 14. Australia: Weather Forecasting Services Market- by Industry –Revenue and Forecast to 2028 (US$ Million)
Table 15. Australia: Weather Forecasting Services Market- By Purpose –Revenue and Forecast to 2028 (US$ Million)
Table 16. Australia: Weather Forecasting Services Market- By Forecasting Type –Revenue and Forecast to 2028 (US$ Million)
Table 17. Australia: Weather Forecasting Services Market- By Organization Size –Revenue and Forecast to 2028 (US$ Million)
Table 18. South Korea: Weather Forecasting Services Market- by Industry –Revenue and Forecast to 2028 (US$ Million)
Table 19. South Korea: Weather Forecasting Services Market- By Purpose –Revenue and Forecast to 2028 (US$ Million)
Table 20. South Korea: Weather Forecasting Services Market- By Forecasting Type –Revenue and Forecast to 2028 (US$ Million)
Table 21. South Korea: Weather Forecasting Services Market- By Organization Size –Revenue and Forecast to 2028 (US$ Million)
Table 22. Rest of APAC: Weather Forecasting Services Market- by Industry –Revenue and Forecast to 2028 (US$ Million)
Table 23. Rest of APAC: Weather Forecasting Services Market- By Purpose –Revenue and Forecast to 2028 (US$ Million)
Table 24. Rest of APAC: Weather Forecasting Services Market- By Forecasting Type –Revenue and Forecast to 2028 (US$ Million)
Table 25. Rest of APAC: Weather Forecasting Services Market- By Organization Size –Revenue and Forecast to 2028 (US$ Million)
Table 26. Glossary of Terms, Weather Forecasting Services Market
LIST OF FIGURES
Figure 1. Weather Forecasting Services Market Segmentation
Figure 2. Weather Forecasting Services Market Segmentation - Country
Figure 3. Weather Forecasting Services Market Overview
Figure 4. Weather Forecasting Services Market, By Industry
Figure 5. Weather Forecasting Services Market, By Purpose
Figure 6. Weather Forecasting Services Market, By Forecasting Type
Figure 7. Weather Forecasting Services Market, By Organization Size
Figure 8. Weather Forecasting Services Market, By Country
Figure 9. Asia Pacific PEST Analysis
Figure 10. Weather Forecasting Services Market Ecosystem Analysis
Figure 11. Expert Opinion
Figure 12. Weather Forecasting Services Market Impact Analysis of Drivers and Restraints
Figure 13. Asia Pacific Weather Forecasting Services Market, Forecast and Analysis (US$ Mn)
Figure 14. Weather Forecasting Services Market Revenue Share, by Industry (2020 and 2028)
Figure 15. Agriculture: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Aviation: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Marine: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Transport and Logistics: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Energy and Utilities: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Oil and Gas: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Media: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Insurance: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Retail: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Construction and Mining: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Others: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Weather Forecasting Services Market Revenue Share, by Purpose (2020 and 2028)
Figure 27. Operational Efficiency: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Safety: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Others: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Weather Forecasting Services Market Revenue Share, by Forecasting Type (2020 and 2028)
Figure 31. Nowcast: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Short-Range: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Medium-Range: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Long-Range: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Weather Forecasting Services Market Revenue Share, by Organization Size (2020 and 2028)
Figure 36. Small and Medium-Sized Enterprises: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 37. Large Enterprises: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 38. Asia Pacific: Weather Forecasting Services Market, by Key Country – Revenue (2020) (USD Million)
Figure 39. APAC: Weather Forecasting Services Market Revenue Share, by Key Country (2020 and 2028)
Figure 40. China: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 41. India: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 42. Japan: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 43. Australia: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 44. South Korea: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 45. Rest of APAC: Weather Forecasting Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 46. Impact of COVID-19 Pandemic in APAC Country Markets
- AccuWeather, Inc.
- IBM Corporation
- DTN
- StormGeo
- Fugro
- ENAV S.p.A.
- The Tomorrow Companies Inc.
- BMT Group 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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