The North America transformer services market size is expected to grow from US$ 433.9 million in 2022 to US$ 593.7 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2022 to 2028.
North America transformer services market growth is primarily attributed to increasing focus on transformer maintenance and service activities, intense emphasis on routine maintenance and aging of transformers. The growth prospects in renewable energy are augmenting the need for the erection and installation of new transformers, which is propelling the market growth. As per the EIA, the US renewable generation across all sectors increased from 7% in 2021 to 10% in 2022. Thus, as per the EIA projections, coal will be the second-most prevalent electricity source in 2022. Thus, such growth prospects in the renewable industry are a crucial factor attributed to the growth of the transformer services market in North America.
The presence of a large number of transformer services providers in North America is creating potential competition in the North America transformer services market growth. GE, RESA Power LLC, Hitachi Energy Ltd, Siemens, and Vertiv Group Corp. are among the major players operating in the market. The growing initiatives from the leading players for taking strategic decisions are also contributing to the market growth. In May 2022, Northern Transformer Corporation, a leading manufacturer of power transformers for the North American utility based in Toronto, announced the acquisition of the North American brand, products, and designs of VRT Power Ltd. of Tel Aviv, Israel. Thus, the adoption of inorganic growth strategies in the market, along with the provision of add-on services for transformer services such as technical training, is driving the North America transformer services market during the projected timeframe.
Impact of COVID-19 Pandemic on North America Transformer Services Market
Due to the emergence of the COVID-19 outbreak, the energy consumption from residential consumers has increased significantly in North American countries due to an increased focus on work from home model. During office hours the load consumption in the residential sector has increased dramatically specifically from residential homes. The increased load consumption is influencing the need for transformer services on the distribution side. Due to high power consumption, the need for services has erupted significantly, which has increased the demand for transformer services.
Lucrative Regions for North America Transformer Services Market
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Shift to Digitalization and Modern Approaches in Service Offerings
Developing smart transformers that can detect and resolve the problem before the breakdown is expected to be one of the prominent trends in the power industry. Digitalization increases the reliability and performance of transformers for better control of voltages in the grid. Digitalization in transformers majorly comprises an agnostic suite of sensors, data collection, analysis tools, and an alert mechanism that collects the operational parameters data and provides suitable alerts for services for individual components. Thus, a shift to digitalization accelerates transformer efficiency through increased adoption across North America. For instance, in September 2021, Hitachi ABB Power Grids developed a TXpert digitalized transformer, which is equipped with digital devices to monitor and analyze the health of the transformer, enhancing reliability and performance. Thus, such advancements in technology are catalyzing the market size which helps augment the market growth.
The key players engaged in delivering transformer services are helping identify any degradation or contamination in the transformer oil, allowing corrective action to be taken before any damage occurs. For instance, RESA Power Service offers expert oil laboratory and field services to customers across North America. Additionally, General Electric’s Field specialists undertake extensive investigation and condition assessment before repairing or modernizing aging transformers. Also, Kinectrics offers additional transformer consulting services, including factory acceptance testing (FAT), high voltage and high current lab capabilities, transformer and fleet condition assessments, geomagnetic induced current (GIC) vulnerability, and transformer monitoring systems. Thus, a shift to digitalization and modern approaches in service offerings by key market players will be a key market trend in the North America transformer services market.
Service Type Segment Insights
Based on service type, the North America transformer services market is categorized into installation & relocation, testing & monitoring, and repair & maintenance. The repair & maintenance segment led the market share of around 52% in 2021 and is expected to hold ~53% share by 2028. Installation & relocation services are one-time services used for successful transformer operations. However, the repair & maintenance activities are carried out regularly, which is augmenting the segment’s growth.
North America Transformer Services Market, by Service Type (% Share)
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Application Segment Insights
Based on application, the North America transformer services market is categorized into power transformer, distribution transformer, and renewable transformer. The power transformer segment led the market with a share of around 43% in 2021 and is expected to account for over 45% of the total North America transformer services market by 2028. The power transformer oil level and oil taps need to be checked on a monthly basis, which is fueling the demand for maintenance and repair services. Thus, the increasing need for maintenance and repair activities in transformers is anticipated to drive the North America transformer services market over the forecast period.
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North America Transformer Services Market: Strategic Insights
Market Size Value in US$ 433.9 million in 2022 Market Size Value by US$ 593.7 million by 2028 Growth rate CAGR of 5.4% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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North America Transformer Services Market: Strategic Insights
| Market Size Value in | US$ 433.9 million in 2022 |
| Market Size Value by | US$ 593.7 million by 2028 |
| Growth rate | CAGR of 5.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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The North America transformer services market players focus on new product innovations and developments by integrating advanced technologies and features into service offerings. In September 2021, Hitachi ABB Power Grids developed TXpert digitalized transformer, which is equipped with digital devices to monitor and analyze the health of the transformer, enhancing reliability and performance. The North America transformer services market analysis helps to understand the upcoming trends, new technologies, and macro and micro factors that influences the market growth in coming years.
Based on service type, the North America transformer services market is categorized into installation & relocation, testing & monitoring, and repair & maintenance. Based on application, the North America transformer services market is bifurcated into power transformer, distribution transformer, and renewable transformer. Based on country, the North America transformer services market is segmented into three countries — the US, Canada, and Mexico.
GE, RESA Power LLC, Hitachi Energy Ltd, Siemens, and Vertiv Group Corp are the five key market players operating in the North America transformer services market. Stark International Ltd.; Houghton International; VCM Solutions; Power Substation Services; Magneto Electric North American Substation Services Ltd. (NASS); Transformer Services, Inc.; Kinectrics; Transformer Engineering Service; EMERALD; SDMyers; ELSCO TRANSFORMERS; American Superconductor; Tru-Amp Corporation; Controlled Magnetics, Inc.; CES Transformers; Aevitas Lineman's Testing Laboratories Of Canada Limited; van Kooy Transformer Consulting Services Inc; EthosEnergy; Sunbelt Solomon; Maschinenfabrik Reinhausen GmbH; TCI of NY (G&S Family of Companies); Pace Technologies Inc.; Scherer Electric; and Eaton are among other major players operating in the market. The North America transformer services market report provides detailed market insights which helps the key players to strategize the growth in coming years.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Service Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Canada, Mexico, United States
1. Introduction
1.1 Scope of the Study
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. Transformer Services Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Transformer Services Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Focus on Intensive Routine Maintenance
5.1.2 Aging of Transformers in North America
5.2 Market Restraints
5.2.1 Technological Advancements in Transformers Enhanced Product Performance and reduces service requirements
5.3 Market Opportunities
5.3.1 Growing Initiatives for Strengthening Existing Transmission and Distribution Infrastructure
5.4 Future Trends
5.4.1 Shift to Digitalization and Modern Approaches in Service Offerings
5.5 Impact analysis of Drivers and Restraints
6. Transformer Services Market – North America Market Analysis
6.1 North America Transformer Services Market Overview
6.2 North America Transformer Services Market Forecast and Analysis
6.3 Market Positioning- Top Five Players
7. Transformer Services Market – By Service Type
7.1 Overview
7.2 Transformer Services Market, by Service Type (2021 and 2028)
7.3 Installation and Relocation
7.3.1 Overview
7.3.2 Installation and Relocation: Transformer Services Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Testing and Monitoring
7.4.1 Overview
7.4.2 Testing and Monitoring: Transformer Services Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Repair & maintenance
7.5.1 Overview
7.5.2 Repair & maintenance: Transformer Services Market – Revenue and Forecast to 2028 (US$ Million)
8. Transformer Services Market – By Application
8.1 Overview
8.2 Transformer Services Market, by Application (2021 and 2028)
8.3 Power Transformer
8.3.1 Overview
8.3.2 Power Transformer: Transformer Services Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Distribution Transformer
8.4.1 Overview
8.4.2 Distribution Transformer: Transformer Services Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Renewable Transformer
8.5.1 Overview
8.5.2 Renewable Transformer: Transformer Services Market – Revenue and Forecast to 2028 (US$ Million)
9. Transformer Services Market – Country Analysis
9.1 Overview
9.2 North America: Transformer Services Market
9.2.1 North America Transformer Services Market Breakdown, by Country
9.2.1.1 US Transformer Services Market, Revenue and Forecast to 2028
9.2.1.1.1 US Transformer Services Market Breakdown, by Service Type
9.2.1.1.2 US Transformer Services Market Breakdown, by Application
9.2.1.2 Canada Transformer Services Market, Revenue and Forecast to 2028
9.2.1.2.1 Canada Transformer Services Market Breakdown, by Service Type
9.2.1.2.2 Canada Transformer Services Market Breakdown, by Application
9.2.1.3 Mexico Transformer Services Market, Revenue and Forecast to 2028
9.2.1.3.1 Mexico Transformer Services Market Breakdown, by Service Type
9.2.1.3.2 Mexico Transformer Services Market Breakdown, by Application
10. Impact of COVID-19 Pandemic on Transformer Services Market
10.1 Overview
10.1.1 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Merger and Acquisition
11.4 New Development
12. COMPANY PROFILES
12.1 SDMyers, LLC
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 EMERALD TRANSFORMER
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 General Electric Company
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Vertiv Group Corp.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Hitachi Energy Ltd.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Siemens Energy
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Stark International Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 VCM Solutions
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 ELSCO Transformers
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 American Superconductor
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
12.11 Tru-Amp Corporation
12.11.1 Key Facts
12.11.2 Business Description
12.11.3 Products and Services
12.11.4 Financial Overview
12.11.5 SWOT Analysis
12.11.6 Key Developments
12.12 RESA Power, LLC.
12.12.1 Key Facts
12.12.2 Business Description
12.12.3 Products and Services
12.12.4 Financial Overview
12.12.5 SWOT Analysis
12.12.6 Key Developments
12.13 Houghton International
12.13.1 Key Facts
12.13.2 Business Description
12.13.3 Products and Services
12.13.4 Financial Overview
12.13.5 SWOT Analysis
12.13.6 Key Developments
12.14 Power Substation Services
12.14.1 Key Facts
12.14.2 Business Description
12.14.3 Products and Services
12.14.4 Financial Overview
12.14.5 SWOT Analysis
12.14.6 Key Developments
12.15 Magneto Electric
12.15.1 Key Facts
12.15.2 Business Description
12.15.3 Products and Services
12.15.4 Financial Overview
12.15.5 SWOT Analysis
12.15.6 Key Developments
12.16 North American Substation Services Ltd. NAAS
12.16.1 Key Facts
12.16.2 Business Description
12.16.3 Products and Services
12.16.4 Financial Overview
12.16.5 SWOT Analysis
12.16.6 Key Developments
12.17 Transformer Services, Inc.
12.17.1 Key Facts
12.17.2 Business Description
12.17.3 Products and Services
12.17.4 Financial Overview
12.17.5 SWOT Analysis
12.17.6 Key Developments
12.18 Kinectrics
12.18.1 Key Facts
12.18.2 Business Description
12.18.3 Products and Services
12.18.4 Financial Overview
12.18.5 SWOT Analysis
12.18.6 Key Developments
12.19 Eaton
12.19.1 Key Facts
12.19.2 Business Description
12.19.3 Products and Services
12.19.4 Financial Overview
12.19.5 SWOT Analysis
12.19.6 Key Developments
12.20 Maschinenfabrik Reinhausen GmbH
12.20.1 Key Facts
12.20.2 Business Description
12.20.3 Products and Services
12.20.4 Financial Overview
12.20.5 SWOT Analysis
12.20.6 Key Developments
12.21 Transformer Engineering Service
12.21.1 Key Facts
12.21.2 Business Description
12.21.3 Products and Services
12.21.4 Financial Overview
12.21.5 SWOT Analysis
12.21.6 Key Developments
12.22 EthosEnergy
12.22.1 Key Facts
12.22.2 Business Description
12.22.3 Products and Services
12.22.4 Financial Overview
12.22.5 SWOT Analysis
12.22.6 Key Developments
12.23 Sunbelt Solomon
12.23.1 Key Facts
12.23.2 Business Description
12.23.3 Products and Services
12.23.4 Financial Overview
12.23.5 SWOT Analysis
12.23.6 Key Developments
12.24 Pace Technologies Inc.
12.24.1 Key Facts
12.24.2 Business Description
12.24.3 Products and Services
12.24.4 Financial Overview
12.24.5 SWOT Analysis
12.24.6 Key Developments
12.25 Scherer Electric
12.25.1 Key Facts
12.25.2 Business Description
12.25.3 Products and Services
12.25.4 Financial Overview
12.25.5 SWOT Analysis
12.25.6 Key Developments
12.26 TCI of NY
12.26.1 Key Facts
12.26.2 Business Description
12.26.3 Products and Services
12.26.4 Financial Overview
12.26.5 SWOT Analysis
12.26.6 Key Developments
12.27 Controlled Magnetics, Inc
12.27.1 Key Facts
12.27.2 Business Description
12.27.3 Products and Services
12.27.4 Financial Overview
12.27.5 SWOT Analysis
12.27.6 Key Developments
12.28 Lineman's Testing Laboratories Of Canada Limited
12.28.1 Key Facts
12.28.2 Business Description
12.28.3 Products and Services
12.28.4 Financial Overview
12.28.5 SWOT Analysis
12.28.6 Key Developments
12.29 CES Transformers
12.29.1 Key Facts
12.29.2 Business Description
12.29.3 Products and Services
12.29.4 Financial Overview
12.29.5 SWOT Analysis
12.29.6 Key Developments
12.30 van Kooy Transformer Consulting Services Inc.
12.30.1 Key Facts
12.30.2 Business Description
12.30.3 Products and Services
12.30.4 Financial Overview
12.30.5 SWOT Analysis
12.30.6 Key Developments
12.31 Aevitas
12.31.1 Key Facts
12.31.2 Business Description
12.31.3 Products and Services
12.31.4 Financial Overview
12.31.5 SWOT Analysis
12.31.6 Key Developments
12.32 SPX CORPORATION
12.32.1 Key Facts
12.32.2 Business Description
12.32.3 Products and Services
12.32.4 Financial Overview
12.32.5 SWOT Analysis
12.32.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary
LIST OF TABLES
Table 1. North America Transformer Services Market, Revenue and Forecast, 2019–2028 (US$ Mn)
Table 2. North America Transformer Services Market- Top Player Market Share
Table 3. North America Transformer Services Market, Revenue and Forecast to 2028 – By Country (US$ Million)
Table 4. US Transformer Services Market, Revenue and Forecast to 2028 – By Service Type (US$ Million)
Table 5. US Transformer Services Market, Revenue and Forecast to 2028 – By Application (US$ Million)
Table 6. Canada Transformer Services Market, Revenue and Forecast to 2028 – By Service Type (US$ Million)
Table 7. Canada Transformer Services Market, Revenue and Forecast to 2028 – By Application (US$ Million)
Table 8. Mexico Transformer Services Market, Revenue and Forecast to 2028 – By Service Type (US$ Million)
Table 9. Mexico Transformer Services Market, Revenue and Forecast to 2028 – By Application (US$ Million)
Table 10. Glossary of Terms, Transformer Services Market
LIST OF FIGURES
Figure 1. Transformer Services Market Segmentation
Figure 2. Transformer Services Market Segmentation – Region
Figure 3. Transformer Services Market Overview
Figure 4. Transformer Services Market, By Service Type
Figure 5. Transformer Services Market, By Application
Figure 6. North America: PEST Analysis
Figure 7. Transformer Services Market: Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. North America Transformer Services Market: Impact Analysis of Drivers and Restraints
Figure 10. North America Transformer Services Market
Figure 11. North America Transformer Services Market, Forecast and Analysis (US$ Mn)
Figure 12. Market Positioning- Top Five Players
Figure 13. Transformer Services Market Revenue Share, by service type(2021 and 2028)
Figure 14. Installation and Relocation: Transformer Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Testing and monitoring: Transformer Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Repair & maintenance: Transformer Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Transformer Services Market Revenue Share, by Application (2021 and 2028)
Figure 18. Power transformer: Transformer Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Distribution transformer: Transformer Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Renewable transformer: Transformer Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. North America Transformer Services Market Breakdown, by Country, 2021 & 2028 (%)
Figure 22. US Transformer Services Market, Revenue and Forecast to 2028 (US$ Million)
Figure 23. Canada Transformer Services Market, Revenue and Forecast to 2028 (US$ Million)
Figure 24. Mexico Transformer Services Market, Revenue and Forecast to 2028 (US$ Million)
Figure 25. Impact of COVID-19 Pandemic in North American Country Markets
- GE
- Hitachi Energy Ltd
- Siemens
- Vertiv Group Corp.
- Stark International Inc.
- RESA Power LLC
- Houghton International
- VCM Solutions
- Power Substation Services
- Magneto Electric
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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