Europe Military Optronics Surveillance and Sighting Systems Market Drivers by 2028
Europe Military Optronics Surveillance and Sighting Systems Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (Image Intensification, Military Laser Systems, and Electro-Optics/Infrared), Device Type (Night Vision Devices, Handheld Thermal Imaging Devices, Integrated Observation Equipment, Standalone Infrared, Seismic and Acoustic Sensors, and Others), and Platform (Ground, Airborne, and Naval)
- Report Date : Jan 2022
- Report Code : TIPRE00026767
- Category : Aerospace and Defense
- Status : Published
- Available Report Formats :
- No. of Pages : 149
The military optronics surveillance and sighting systems market in Europe is expected to grow from US$ 2,992.66 million in 2021 to US$ 4.345.09 million by 2028; it is estimated to grow at a CAGR of 5.5% from 2021 to 2028.
Germany, France, Italy, the UK, and Russia are major economies in Europe. The world is undergoing a ‘fourth industrial’ revolution, characterized by rapid and converging advances in multiple next-generation technologies, including artificial intelligence (AI). AI is not only undergoing a renaissance in its technical development but is also starting to shape deterrence relations among nuclear-armed states. The potential of weaker nuclear-armed states can be increased with the integration of AI into their military platforms. In January 2021, Lockheed Martin Corp. announced to build three new next-generation infrared spacecraft to help detect enemy ballistic missile launches. In March 2021, Elbit Systems, the Israeli defense company, launched its next-generation advanced multi-sensor payload system (AMPS NG). Team Tempest—a UK technology and a defense partnership formed by BAE Systems, Leonardo, MBDA, Rolls-Royce, and the RAF—announced the development of new radar technology by 2035 to deliver unparalleled data processing capability on the battlespace. Thus, technological advancements in the military and defense system are driving the military optronics surveillance and sighting system market. Thus, implementation of next-gen technologies in defense systems is the major factor driving the growth of the Europe military optronics surveillance and sighting systems market.The COVID-19 outbreak across Europe have had a substantial impact on military capabilities. The armed forces have been a critical component of national crisis response across the European countries. Initially, this covered general military support, such as assistance with command and control, repatriation of citizens, logistics, disinfection of public spaces and also in some countries, support to police and internal security. In addition, in many countries, the armed forces supported the nursing and social care system. This experience identified some friction in the processes of managing demand in national health systems and at European level that would have also constrained strategic casualty regulation and evacuation in the event of major conflict in Eastern Europe. Moreover, the requirement of continuous surveillance for military operations has driven the military optronics surveillance and sighting systems market across European countries during FY 2020. Moreover, a few of the countries across Europe are also disclosing their plans for the acquisition of and investments in defense technologies across their respective armed forces, which is also expected to aid in the growth of the market during the forecast period.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe military optronics surveillance and sighting systems market. The Europe military optronics surveillance and sighting systems market is expected to grow at a good CAGR during the forecast period.
Europe Military Optronics Surveillance and Sighting Systems
Market Revenue and Forecast to 2028 (US$ Million)
Europe Military Optronics Surveillance and Sighting Systems Market Segmentation
Europe Military Optronics Surveillance and Sighting Systems Market – By Technology
- Image Intensification
- Military Laser Systems
- Electro-Optics/Infrared
Europe Military Optronics Surveillance and Sighting Systems Market – By Device Type
- Night Vision Devices
- Handheld Thermal Imaging Devices
- Integrated Observation Equipment
- Standalone Infrared
- Seismic and Acoustic Sensors
- Others
Europe Military Optronics Surveillance and Sighting Systems Market – By Platform
- Ground
- Airborne
- Naval
Europe Military Optronics Surveillance and Sighting Systems Market, by Country
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Europe Military Optronics Surveillance and Sighting Systems Market - Companies Mentioned
- HENSOLDT
- Israel Aerospace Industries
- L3Harris Technologies Inc.
- Lockheed Martin Corporation
- Rafael Advanced Defense Systems Ltd.
- Raytheon Company
- Safran S.A.
- Teledyne FLIR LLC
- Thales Group
- Ultra Electronics Holdings plc.
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. Europe Military Optronics Surveillance & Sighting Systems Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
5. Europe Military Optronics Surveillance & Sighting Systems – Market Dynamics
5.1 Market Drivers
5.1.1 Rising Usage of Light-Weight Night Vision Devices
5.1.2 Next-Gen Technologies in Defense Systems Getting Implemented
5.2 Market Restraints
5.2.1 Huge Initial and Maintenance Cost
5.3 Market Opportunities
5.3.1 Surging Deployment in UAVs
5.4 Future Trends
5.4.1 Growing Need for Multiple Data Sharing and Storing Facilities
6. Military Optronics Surveillance & Sighting Systems Market – Europe Overview
6.1 Europe Military Optronics Surveillance & Sighting Systems Market Revenue Forecast and Analysis
7. Europe Military Optronics Surveillance and Sighting Systems Market Analysis – By Technology
7.1 Overview
7.2 Europe Military Optronics Surveillance and Sighting Systems Market, By Technology (2020 and 2028)
7.3 Image Intensification
7.3.1 Overview
7.3.2 Image Intensification: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Military Laser Systems
7.4.1 Overview
7.4.2 Military Laser Systems: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Electro-Optics/Infrared
7.5.1 Overview
7.5.2 Electro-Optics/Infrared: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
8. Europe Military Optronics Surveillance and Sighting Systems Market Analysis – By Device Type
8.1 Overview
8.2 Europe Military Optronics Surveillance and Sighting Systems Market, by Device Type (2020 and 2028)
8.3 Night Vision Devices
8.3.1 Overview
8.3.2 Night Vision Devices: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Handheld Thermal Imaging Devices
8.4.1 Overview
8.4.2 Handheld Thermal Imaging Devices: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Integrated Observation Equipment
8.5.1 Overview
8.5.2 Integrated Observation Equipment: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Standalone Infrared
8.6.1 Overview
8.6.2 Standalone Infrared: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Seismic and Acoustic Sensors
8.7.1 Overview
8.7.2 Seismic and Acoustic Sensors: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
9. Europe Military Optronics Surveillance and Sighting Systems Market Analysis– By Platform
9.1 Overview
9.2 Europe Military Optronics Surveillance and Sighting Systems Market, by Platform (2020 and 2028)
9.3 Ground
9.3.1 Overview
9.3.2 Ground: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Airborne
9.4.1 Overview
9.4.2 Airborne: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Naval
9.5.1 Overview
9.5.2 Naval: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
10. Europe Military Optronics Surveillance & Sighting Systems Market – Country Analysis
10.1 Overview
10.1.1 Europe: Military Optronics Surveillance & Sighting Systems Market, By Country
10.1.1.1 Germany: Military Optronics Surveillance & Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 Germany: Military Optronics Surveillance & Sighting Systems Market, By Technology
10.1.1.1.2 Germany: Military Optronics Surveillance & Sighting Systems Market, By Device Type
10.1.1.1.3 Germany: Military Optronics Surveillance & Sighting Systems Market, By Platform
10.1.1.2 France: Military Optronics Surveillance & Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 France: Military Optronics Surveillance & Sighting Systems Market, By Technology
10.1.1.2.2 France: Military Optronics Surveillance & Sighting Systems Market, By Device Type
10.1.1.2.3 France: Military Optronics Surveillance & Sighting Systems Market, By Platform
10.1.1.3 Italy: Military Optronics Surveillance & Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Italy: Military Optronics Surveillance & Sighting Systems Market, By Technology
10.1.1.3.2 Italy: Military Optronics Surveillance & Sighting Systems Market, By Device Type
10.1.1.3.3 Italy: Military Optronics Surveillance & Sighting Systems Market, By Platform
10.1.1.4 UK: Military Optronics Surveillance & Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 UK: Military Optronics Surveillance & Sighting Systems Market, By Technology
10.1.1.4.2 UK: Military Optronics Surveillance & Sighting Systems Market, By Device Type
10.1.1.4.3 UK: Military Optronics Surveillance & Sighting Systems Market, By Platform
10.1.1.5 Russia: Military Optronics Surveillance & Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.5.1 Russia: Military Optronics Surveillance & Sighting Systems Market, By Technology
10.1.1.5.2 Russia: Military Optronics Surveillance & Sighting Systems Market, By Device Type
10.1.1.5.3 Russia: Military Optronics Surveillance & Sighting Systems Market, By Platform
10.1.1.6 Rest of Europe: Military Optronics Surveillance & Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.6.1 Rest of Europe: Military Optronics Surveillance & Sighting Systems Market, By Technology
10.1.1.6.2 Rest of Europe: Military Optronics Surveillance & Sighting Systems Market, By Device Type
10.1.1.6.3 Rest of Europe: Military Optronics Surveillance & Sighting Systems Market, By Platform
11. Europe Military Optronics Surveillance & Sighting Systems Market - COVID-19 Impact Analysis
11.1 Europe: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Market Initiative
12.2 New Development
13. Company Profiles
13.1 HENSOLDT
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Lockheed Martin Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Thales Group
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 L3Harris Technologies, Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Israel Aerospace Industries Ltd.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Raytheon Technologies Corporation
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Safran
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Ultra Electronics Holdings plc.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Teledyne FLIR LLC
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Rafael Advanced Defense Systems Ltd.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Europe Military Optronics Surveillance & Sighting Systems Market Revenue and Forecast to 2028 (US$ Million)
Table 2. Europe Military Optronics Surveillance & Sighting Systems Market, By Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. Germany Military Optronics Surveillance & Sighting Systems Market, By Technology– Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany Military Optronics Surveillance & Sighting Systems Market, By Device Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. Germany Military Optronics Surveillance & Sighting Systems Market, By Platform – Revenue and Forecast to 2028 (US$ Million)
Table 6. France Military Optronics Surveillance & Sighting Systems Market, By Technology– Revenue and Forecast to 2028 (US$ Million)
Table 7. France Military Optronics Surveillance & Sighting Systems Market, By Device Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. France Military Optronics Surveillance & Sighting Systems Market, By Platform– Revenue and Forecast to 2028 (US$ Million)
Table 9. Italy Military Optronics Surveillance & Sighting Systems Market, By Technology– Revenue and Forecast to 2028 (US$ Million)
Table 10. Italy Military Optronics Surveillance & Sighting Systems Market, By Device Type – Revenue and Forecast to 2028 (US$ Million)
Table 11. Italy Military Optronics Surveillance & Sighting Systems Market, By Platform – Revenue and Forecast to 2028 (US$ Million)
Table 12. UK Military Optronics Surveillance & Sighting Systems Market, By Technology– Revenue and Forecast to 2028 (US$ Million)
Table 13. UK Military Optronics Surveillance & Sighting Systems Market, By Device Type– Revenue and Forecast to 2028 (US$ Million)
Table 14. UK Military Optronics Surveillance & Sighting Systems Market, By Platform – Revenue and Forecast to 2028 (US$ Million)
Table 15. Russia Military Optronics Surveillance & Sighting Systems Market, By Technology– Revenue and Forecast to 2028 (US$ Million)
Table 16. Russia Military Optronics Surveillance & Sighting Systems Market, By Device Type – Revenue and Forecast to 2028 (US$ Million)
Table 17. Russia Military Optronics Surveillance & Sighting Systems Market, By Platform – Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of Europe Military Optronics Surveillance & Sighting Systems Market, By Technology– Revenue and Forecast to 2028 (US$ Million)
Table 19. Rest of Europe Military Optronics Surveillance & Sighting Systems Market, By Device Type – Revenue and Forecast to 2028 (US$ Million)
Table 20. Rest of Europe Military Optronics Surveillance & Sighting Systems Market, By Platform – Revenue and Forecast to 2028 (US$ Million)
Table 21. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Military Optronics Surveillance & Sighting Systems Market Segmentation
Figure 2. Europe Military Optronics Surveillance & Sighting Systems Market Segmentation – By Country
Figure 3. Europe Military Optronics Surveillance & Sighting Systems Market Overview
Figure 4. Europe Military Optronics Surveillance & Sighting Systems Market, by Technology
Figure 5. Europe Military Optronics Surveillance & Sighting Systems Market, by Device Type
Figure 6. Europe Military Optronics Surveillance & Sighting Systems Market, by Platform
Figure 7. Europe Military Optronics Surveillance & Sighting Systems Market, By Country
Figure 8. Porter’s Five Forces Analysis
Figure 9. Ecosystem Analysis
Figure 10. Europe Military Optronics Surveillance & Sighting Systems Market: Impact Analysis of Drivers and Restraints
Figure 11. Europe Military Optronics Surveillance & Sighting Systems Market Revenue Forecast and Analysis (US$ Million)
Figure 12. Europe Military Optronics Surveillance and Sighting Systems Market Revenue Share, by Technology (2020 and 2028)
Figure 13. Europe Image Intensification: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Europe Military Laser Systems: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Europe Electro-Optics/Infrared: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Europe Military Optronics Surveillance and Sighting Systems Market Revenue Share, by Device Type (2020 and 2028)
Figure 17. Europe Night Vision Devices: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Europe Handheld Thermal Imaging Devices: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Europe Integrated Observation Equipment: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Europe Standalone Infrared: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Europe Seismic and Acoustic Sensors: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Europe Others: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Europe Military Optronics Surveillance and Sighting Systems Market Revenue Share, by Platform (2020 and 2028)
Figure 24. Europe Ground: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Europe Airborne: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Europe Naval: Military Optronics Surveillance and Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Europe: Military Optronics Surveillance & Sighting Systems Market, by Key Country – Revenue (2020) (US$ Million)
Figure 28. Europe: Military Optronics Surveillance & Sighting Systems Market Revenue Share, By Country (2020 and 2028)
Figure 29. Germany: Military Optronics Surveillance & Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. France: Military Optronics Surveillance & Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Italy: Military Optronics Surveillance & Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. UK: Military Optronics Surveillance & Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Russia: Military Optronics Surveillance & Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Rest of Europe: Military Optronics Surveillance & Sighting Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Impact of COVID-19 Pandemic in Europe Country Markets
- HENSOLDT
- Israel Aerospace Industries
- L3Harris Technologies Inc.
- Lockheed Martin Corporation
- Rafael Advanced Defense Systems Ltd.
- Raytheon Company
- Safran S.A.
- Teledyne FLIR LLC
- Thales Group
- Ultra Electronics Holdings plc.
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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