The Pyrometer Market is expected to register a CAGR of 6.7% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The Pyrometer Market report covers analysis by Type, Technology, End User, and Geography. The market covers analysis by top growth drivers and trends.
Purpose of the ReportThe report Pyrometer 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.
Pyrometer Market Segmentation
Type- Handheld
- Stationary
- Infrared
- Optical
- Metal Industry
- Glass Manufacturing Industry
- Polymer Industry
- Mining
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Pyrometer Market Growth Drivers- Metal Processing Industry Drives Pyrometer Use: Global market trends show that more than 70% of the plants in the metal processing industries globally use advanced pyrometry systems. This further complements the growth and increase of the market share.
- Automation and Industry 4.0 Fuel Market Growth: The global shift toward Industry 4.0 and automation is moving the pyrometer market forward. Automatic temperature monitoring utilizing pyrometers has improved process control with lower instances of human error and production downtime. Market analysis indicates that factories that integrate automation have made operations run 30% better. Integration of smart sensors and real-time data analytics into automated systems is also driving the pyrometer market report and makes it very relevant in all manufacturing sectors.
- Emissions Regulations Boost Pyrometer Demand: The global acceptance of strict emissions regulations fosters demand for pyrometers in various industry sectors. Pyrometers help monitor combustion efficiency, thus minimizing excess emissions while adhering to regulatory requirements. About 60% of industrial plants in developed countries make use of pyrometers for environmental compliance. The trend is still strong to grow as companies spend lavishly on temperature monitoring technologies to avoid penalties and reduce their carbon footprint.
- Non-contact Measurement in Harsh Environments: With growing industrial automation, pyrometers are increasingly required for non-contact temperature measurement, particularly in hostile environments. They find an essential place in metal manufacturing industries and glass making industries. Market trends suggest that acceptance of infrared pyrometers is on the increase as they give precise results even at extreme temperatures, mostly above 2000°C. A SWOT analysis shows demand exists with a strong response, but there would be considerable competition from other temperature sensors.
- Multi-wavelength Pyrometers Enable Accuracy: Technological advancement such as multi-wavelength pyrometers are increasingly on steam that allows accuracy in different varying conditions. The major players have focused their endeavors on fitting AI and IoT capabilities into the devices that might allow real-time data analysis. According to PEST analysis, regulatory standards in terms of industrial safety form the primary drivers of innovation. Therefore, these market strategies are likely to change competitive dynamics in the industry.
- Asia-Pacific Market Sees Strong Pyrometer Growth: This is mostly due to the rapidly growing manufacturing base in Asia-Pacific countries. Such countries saw an increase in the use of pyrometers that was pegged at 15% annually up to 2023 in India and China. A majority of the market strategies in these regions are cost-effective devices with durable products. A PEST analysis showed positive leaning government policies favoring industrial modernization. With the big players venturing into the same, demand for high-end temperature measurement tools will keep spiking, thereby changing the face of global competition.
- Energy and Power Sectors Drive Pyrometer Demand: Pyrometers are increasingly being used in the energy and power-generating sectors. Stepping forward with an entirely clean agenda for energy, the push for more precise thermal measurement tools will contribute to the expansion of this industry, and a good number of pyrometer businesses will have the opportunity to gain traction firmly in the North American market and reach further eastward.
- Smart Manufacturing Drives Global Pyrometer Adoption: Smart manufacturing in the industrial space has brought an excellent business opportunity for pyrometers. According to estimates, over 50 percent of the manufacturing plants worldwide have adopted smart sensors, which also comprise pyrometers, to track real-time temperature variations. The competitive analysis informs that manufacturers can save up to 25 percent of waste in production and thereby gain operational advantage. These trends are seen across geographies, and the trend is led by Europe and North America in adopting the smart factory process.
- Metallurgy and Cement Industries Depend on Pyrometers: Two major industries that currently have a huge dependency on pyrometers for precision maintenance of high-temperature processes are metallurgy and cement. Among these, North America presents the major growth prospect due to its demand stimulated by strictly adhered standards of quality. Such a trend of development in the industry increases similar advancements in the technology of sensing temperature to fulfill these demands.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Pyrometer 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 Pyrometer 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
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Key companies in this market are: Accurate Sensors Technologies, Advanced Energy Industries Inc, AMETEK Land Land Instruments International Ltd, AOIP, Calex Electronics Limited, Micro Epsilon, OPTEX CO, Optris GmbH, Optron GmbH
The Pyrometer Market is expected to register a CAGR of 6.7% from 2023-2031.
Key future trends in this market are - Rising demand in industrial monitoring, Non-contact temperature measurement, Adoption in manufacturing
The major factors impacting the Pyrometer Market are: Stringent Environmental Regulations, Rising Automation in Manufacturing, and Increasing Demand from Metal Processing Industries
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Pyrometer Market - By Type
1.3.2 Pyrometer Market - By Technology
1.3.3 Pyrometer Market - By End User
1.3.4 Pyrometer Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PYROMETER 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. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. PYROMETER 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. PYROMETER MARKET - GLOBAL MARKET ANALYSIS
6.1. PYROMETER - GLOBAL MARKET OVERVIEW
6.2. PYROMETER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PYROMETER MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. HANDHELD
7.3.1. Overview
7.3.2. Handheld Market Forecast and Analysis
7.4. STATIONARY
7.4.1. Overview
7.4.2. Stationary Market Forecast and Analysis
8. PYROMETER MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. INFRARED
8.3.1. Overview
8.3.2. Infrared Market Forecast and Analysis
8.4. OPTICAL
8.4.1. Overview
8.4.2. Optical Market Forecast and Analysis
9. PYROMETER MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. METAL INDUSTRY
9.3.1. Overview
9.3.2. Metal Industry Market Forecast and Analysis
9.4. GLASS MANUFACTURING INDUSTRY
9.4.1. Overview
9.4.2. Glass Manufacturing Industry Market Forecast and Analysis
9.5. POLYMER INDUSTRY
9.5.1. Overview
9.5.2. Polymer Industry Market Forecast and Analysis
9.6. MINING
9.6.1. Overview
9.6.2. Mining Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. PYROMETER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Pyrometer Market Overview
10.1.2 North America Pyrometer Market Forecasts and Analysis
10.1.3 North America Pyrometer Market Forecasts and Analysis - By Type
10.1.4 North America Pyrometer Market Forecasts and Analysis - By Technology
10.1.5 North America Pyrometer Market Forecasts and Analysis - By End User
10.1.6 North America Pyrometer Market Forecasts and Analysis - By Countries
10.1.6.1 United States Pyrometer Market
10.1.6.1.1 United States Pyrometer Market by Type
10.1.6.1.2 United States Pyrometer Market by Technology
10.1.6.1.3 United States Pyrometer Market by End User
10.1.6.2 Canada Pyrometer Market
10.1.6.2.1 Canada Pyrometer Market by Type
10.1.6.2.2 Canada Pyrometer Market by Technology
10.1.6.2.3 Canada Pyrometer Market by End User
10.1.6.3 Mexico Pyrometer Market
10.1.6.3.1 Mexico Pyrometer Market by Type
10.1.6.3.2 Mexico Pyrometer Market by Technology
10.1.6.3.3 Mexico Pyrometer Market by End User
10.2. EUROPE
10.2.1 Europe Pyrometer Market Overview
10.2.2 Europe Pyrometer Market Forecasts and Analysis
10.2.3 Europe Pyrometer Market Forecasts and Analysis - By Type
10.2.4 Europe Pyrometer Market Forecasts and Analysis - By Technology
10.2.5 Europe Pyrometer Market Forecasts and Analysis - By End User
10.2.6 Europe Pyrometer Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Pyrometer Market
10.2.6.1.1 Germany Pyrometer Market by Type
10.2.6.1.2 Germany Pyrometer Market by Technology
10.2.6.1.3 Germany Pyrometer Market by End User
10.2.6.2 France Pyrometer Market
10.2.6.2.1 France Pyrometer Market by Type
10.2.6.2.2 France Pyrometer Market by Technology
10.2.6.2.3 France Pyrometer Market by End User
10.2.6.3 Italy Pyrometer Market
10.2.6.3.1 Italy Pyrometer Market by Type
10.2.6.3.2 Italy Pyrometer Market by Technology
10.2.6.3.3 Italy Pyrometer Market by End User
10.2.6.4 United Kingdom Pyrometer Market
10.2.6.4.1 United Kingdom Pyrometer Market by Type
10.2.6.4.2 United Kingdom Pyrometer Market by Technology
10.2.6.4.3 United Kingdom Pyrometer Market by End User
10.2.6.5 Russia Pyrometer Market
10.2.6.5.1 Russia Pyrometer Market by Type
10.2.6.5.2 Russia Pyrometer Market by Technology
10.2.6.5.3 Russia Pyrometer Market by End User
10.2.6.6 Rest of Europe Pyrometer Market
10.2.6.6.1 Rest of Europe Pyrometer Market by Type
10.2.6.6.2 Rest of Europe Pyrometer Market by Technology
10.2.6.6.3 Rest of Europe Pyrometer Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Pyrometer Market Overview
10.3.2 Asia-Pacific Pyrometer Market Forecasts and Analysis
10.3.3 Asia-Pacific Pyrometer Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Pyrometer Market Forecasts and Analysis - By Technology
10.3.5 Asia-Pacific Pyrometer Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Pyrometer Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Pyrometer Market
10.3.6.1.1 Australia Pyrometer Market by Type
10.3.6.1.2 Australia Pyrometer Market by Technology
10.3.6.1.3 Australia Pyrometer Market by End User
10.3.6.2 China Pyrometer Market
10.3.6.2.1 China Pyrometer Market by Type
10.3.6.2.2 China Pyrometer Market by Technology
10.3.6.2.3 China Pyrometer Market by End User
10.3.6.3 India Pyrometer Market
10.3.6.3.1 India Pyrometer Market by Type
10.3.6.3.2 India Pyrometer Market by Technology
10.3.6.3.3 India Pyrometer Market by End User
10.3.6.4 Japan Pyrometer Market
10.3.6.4.1 Japan Pyrometer Market by Type
10.3.6.4.2 Japan Pyrometer Market by Technology
10.3.6.4.3 Japan Pyrometer Market by End User
10.3.6.5 South Korea Pyrometer Market
10.3.6.5.1 South Korea Pyrometer Market by Type
10.3.6.5.2 South Korea Pyrometer Market by Technology
10.3.6.5.3 South Korea Pyrometer Market by End User
10.3.6.6 Rest of Asia-Pacific Pyrometer Market
10.3.6.6.1 Rest of Asia-Pacific Pyrometer Market by Type
10.3.6.6.2 Rest of Asia-Pacific Pyrometer Market by Technology
10.3.6.6.3 Rest of Asia-Pacific Pyrometer Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Pyrometer Market Overview
10.4.2 Middle East and Africa Pyrometer Market Forecasts and Analysis
10.4.3 Middle East and Africa Pyrometer Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Pyrometer Market Forecasts and Analysis - By Technology
10.4.5 Middle East and Africa Pyrometer Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Pyrometer Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Pyrometer Market
10.4.6.1.1 South Africa Pyrometer Market by Type
10.4.6.1.2 South Africa Pyrometer Market by Technology
10.4.6.1.3 South Africa Pyrometer Market by End User
10.4.6.2 Saudi Arabia Pyrometer Market
10.4.6.2.1 Saudi Arabia Pyrometer Market by Type
10.4.6.2.2 Saudi Arabia Pyrometer Market by Technology
10.4.6.2.3 Saudi Arabia Pyrometer Market by End User
10.4.6.3 U.A.E Pyrometer Market
10.4.6.3.1 U.A.E Pyrometer Market by Type
10.4.6.3.2 U.A.E Pyrometer Market by Technology
10.4.6.3.3 U.A.E Pyrometer Market by End User
10.4.6.4 Rest of Middle East and Africa Pyrometer Market
10.4.6.4.1 Rest of Middle East and Africa Pyrometer Market by Type
10.4.6.4.2 Rest of Middle East and Africa Pyrometer Market by Technology
10.4.6.4.3 Rest of Middle East and Africa Pyrometer Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Pyrometer Market Overview
10.5.2 South and Central America Pyrometer Market Forecasts and Analysis
10.5.3 South and Central America Pyrometer Market Forecasts and Analysis - By Type
10.5.4 South and Central America Pyrometer Market Forecasts and Analysis - By Technology
10.5.5 South and Central America Pyrometer Market Forecasts and Analysis - By End User
10.5.6 South and Central America Pyrometer Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Pyrometer Market
10.5.6.1.1 Brazil Pyrometer Market by Type
10.5.6.1.2 Brazil Pyrometer Market by Technology
10.5.6.1.3 Brazil Pyrometer Market by End User
10.5.6.2 Argentina Pyrometer Market
10.5.6.2.1 Argentina Pyrometer Market by Type
10.5.6.2.2 Argentina Pyrometer Market by Technology
10.5.6.2.3 Argentina Pyrometer Market by End User
10.5.6.3 Rest of South and Central America Pyrometer Market
10.5.6.3.1 Rest of South and Central America Pyrometer Market by Type
10.5.6.3.2 Rest of South and Central America Pyrometer Market by Technology
10.5.6.3.3 Rest of South and Central America Pyrometer Market by End User
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. PYROMETER MARKET, KEY COMPANY PROFILES
12.1. ACCURATE SENSORS TECHNOLOGIES
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. ADVANCED ENERGY INDUSTRIES, INC.
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. AMETEK LAND (LAND INSTRUMENTS INTERNATIONAL LTD)
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. AOIP
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. CALEX ELECTRONICS LIMITED
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. MICRO-EPSILON
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. OPTEX CO.
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. OPTRIS GMBH
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. OPTRON GMBH
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. PROXITRON GMBH
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
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Accurate Sensors Technologies
2. Advanced Energy Industries, Inc.
3. AMETEK Land (Land Instruments International Ltd)
4. AOIP
5. Calex Electronics Limited
6. Micro-Epsilon
7. OPTEX CO.
8. Optris GmbH
9. Optron GmbH
10. Proxitron GmbH
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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