The Solid State Battery Market is expected to register a CAGR of 34.2% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Type (Bulk and Thin Film), Capacity (Less than 20 mAh, 20 mAh - 500 mAh, and Above 500 mAh), Application (Electric Vehicles, Smart Card, Medical Devices, Consumer Electronics, and Wireless Devices). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments
Purpose of the Report
The report Solid State Battery 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.
Solid State Battery Market Segmentation
Type
- Bulk and Thin Film
Capacity
- Less than 20 mAh
- 20 mAh - 500 mAh
- Above 500 mAh
Application
- Electric Vehicles
- Smart Card
- Medical Devices
- Consumer Electronics
- Wireless Devices
Geography
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
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Solid State Battery Market: Strategic Insights
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Solid State Battery Market Growth Drivers
- Demand for High-Energy Density Batteries: Solid-state batteries offer higher energy density compared to traditional lithium-ion batteries, which is a significant driver for their adoption. This enhanced energy capacity is critical for applications like electric vehicles (EVs) and portable electronics, where longer battery life is essential. As these industries grow, the demand for solid-state batteries is increasing, propelling market growth.
- Growing Asia Pacific EV Market: With the growth in population and rising disposable income of the people in the Asia Pacific, the Asia Pacific is becoming a huge market for electric vehicles, which is driving the market growth. Countries such as China, Japan, and South Korea are leading the way in EV battery innovation. Six Japanese companies are among the top 10 patent holders for the technology, and the country is now dominating the world in solid-state battery development. More recently, Japan calculated that it needs US$ 24 billion in public and private investment to increase its capacity for battery production. By 2030, Japan's Ministry of Economy, Trade, and Industry hopes to secure 30,000 educated people for supply chains and battery manufacturing.
Solid State Battery Market Future Trends
- Miniaturization of electronics: There is growth in the demand for electronics that can incorporate a greater number of technologies in small packages. In addition, there is a growing demand for portable devices. These devices are expected to perform well with enhanced battery solutions. The solid state batteries offer higher energy density and a small form factor. This factor makes them an ideal solution for small and compact devices. The rapid demand for small smart wearable and miniaturized electronics components fosters the solid state battery market growth.
- Advancements in Battery Technology: Recent advancements in materials science and manufacturing processes have made solid-state batteries more viable for commercial use. These innovations are improving the performance, efficiency, and safety of solid-state batteries, which helps to overcome previous challenges, such as high production costs and limited scalability, driving market expansion.
Solid State Battery Market Opportunities
- Shift from Lithium-Ion to Solid-State Batteries: As the limitations of traditional lithium-ion batteries become more evident, there is a clear shift toward solid-state battery technology. Solid-state batteries promise enhanced safety, higher efficiency, and longer lifespans, positioning them as the next generation of energy storage. This trend is driving investments and research into solid-state battery development.
- Partnerships and Collaborations for R&D: To accelerate the development and commercialization of solid-state batteries, many key players in the battery and automotive industries are forming strategic partnerships and collaborations. Joint ventures between battery manufacturers, automakers, and technology companies are enabling faster innovation, reducing R&D costs, and bringing solid-state batteries to market quicker, driving the industry's growth.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Solid State Battery 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 Solid State Battery 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.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Some of the customization options available based on the request are an 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
Miniaturization of electronics are likely to remain a key trend in the market.
Demand from EV market and growing Asia Pacific EV market are the major factors driving the solid state battery market.
The Solid State Battery Market is estimated to witness a CAGR of 34.2% from 2023 to 2031
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Solid State Battery Market - By Type
1.3.2 Solid State Battery Market - By Capacity
1.3.3 Solid State Battery Market - By Application
1.3.4 Solid State Battery Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SOLID STATE BATTERY 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. SOLID STATE BATTERY 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. SOLID STATE BATTERY MARKET - GLOBAL MARKET ANALYSIS
6.1. SOLID STATE BATTERY - GLOBAL MARKET OVERVIEW
6.2. SOLID STATE BATTERY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SOLID STATE BATTERY MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. LEAD ACID
7.3.1. Overview
7.3.2. Lead Acid Market Forecast and Analysis
7.4. NICKEL METAL HYBRID BATTERY
7.4.1. Overview
7.4.2. Nickel Metal Hybrid Battery Market Forecast and Analysis
7.5. LITHIUM-ION
7.5.1. Overview
7.5.2. Lithium-Ion Market Forecast and Analysis
7.6. LITHIUM METAL BATTERY
7.6.1. Overview
7.6.2. Lithium Metal Battery Market Forecast and Analysis
8. SOLID STATE BATTERY MARKET - REVENUE AND FORECASTS TO 2028 - CAPACITY
8.1. OVERVIEW
8.2. CAPACITY MARKET FORECASTS AND ANALYSIS
8.3. LESS THAN 20 MAH
8.3.1. Overview
8.3.2. Less than 20 mAh Market Forecast and Analysis
8.4. 20 MAH - 500 MAH
8.4.1. Overview
8.4.2. 20 mAh - 500 mAh Market Forecast and Analysis
8.5. ABOVE 500 MAH
8.5.1. Overview
8.5.2. Above 500 mAh Market Forecast and Analysis
9. SOLID STATE BATTERY MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. ELECTRIC VEHICLES
9.3.1. Overview
9.3.2. Electric Vehicles Market Forecast and Analysis
9.4. SMART CARD
9.4.1. Overview
9.4.2. Smart Card Market Forecast and Analysis
9.5. MEDICAL DEVICES
9.5.1. Overview
9.5.2. Medical Devices Market Forecast and Analysis
9.6. CONSUMER ELECTRONICS
9.6.1. Overview
9.6.2. Consumer Electronics Market Forecast and Analysis
9.7. WITRELESS DEVICES
9.7.1. Overview
9.7.2. Witreless Devices Market Forecast and Analysis
10. SOLID STATE BATTERY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Solid State Battery Market Overview
10.1.2 North America Solid State Battery Market Forecasts and Analysis
10.1.3 North America Solid State Battery Market Forecasts and Analysis - By Type
10.1.4 North America Solid State Battery Market Forecasts and Analysis - By Capacity
10.1.5 North America Solid State Battery Market Forecasts and Analysis - By Application
10.1.6 North America Solid State Battery Market Forecasts and Analysis - By Countries
10.1.6.1 United States Solid State Battery Market
10.1.6.1.1 United States Solid State Battery Market by Type
10.1.6.1.2 United States Solid State Battery Market by Capacity
10.1.6.1.3 United States Solid State Battery Market by Application
10.1.6.2 Canada Solid State Battery Market
10.1.6.2.1 Canada Solid State Battery Market by Type
10.1.6.2.2 Canada Solid State Battery Market by Capacity
10.1.6.2.3 Canada Solid State Battery Market by Application
10.1.6.3 Mexico Solid State Battery Market
10.1.6.3.1 Mexico Solid State Battery Market by Type
10.1.6.3.2 Mexico Solid State Battery Market by Capacity
10.1.6.3.3 Mexico Solid State Battery Market by Application
10.2. EUROPE
10.2.1 Europe Solid State Battery Market Overview
10.2.2 Europe Solid State Battery Market Forecasts and Analysis
10.2.3 Europe Solid State Battery Market Forecasts and Analysis - By Type
10.2.4 Europe Solid State Battery Market Forecasts and Analysis - By Capacity
10.2.5 Europe Solid State Battery Market Forecasts and Analysis - By Application
10.2.6 Europe Solid State Battery Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Solid State Battery Market
10.2.6.1.1 Germany Solid State Battery Market by Type
10.2.6.1.2 Germany Solid State Battery Market by Capacity
10.2.6.1.3 Germany Solid State Battery Market by Application
10.2.6.2 France Solid State Battery Market
10.2.6.2.1 France Solid State Battery Market by Type
10.2.6.2.2 France Solid State Battery Market by Capacity
10.2.6.2.3 France Solid State Battery Market by Application
10.2.6.3 Italy Solid State Battery Market
10.2.6.3.1 Italy Solid State Battery Market by Type
10.2.6.3.2 Italy Solid State Battery Market by Capacity
10.2.6.3.3 Italy Solid State Battery Market by Application
10.2.6.4 United Kingdom Solid State Battery Market
10.2.6.4.1 United Kingdom Solid State Battery Market by Type
10.2.6.4.2 United Kingdom Solid State Battery Market by Capacity
10.2.6.4.3 United Kingdom Solid State Battery Market by Application
10.2.6.5 Russia Solid State Battery Market
10.2.6.5.1 Russia Solid State Battery Market by Type
10.2.6.5.2 Russia Solid State Battery Market by Capacity
10.2.6.5.3 Russia Solid State Battery Market by Application
10.2.6.6 Rest of Europe Solid State Battery Market
10.2.6.6.1 Rest of Europe Solid State Battery Market by Type
10.2.6.6.2 Rest of Europe Solid State Battery Market by Capacity
10.2.6.6.3 Rest of Europe Solid State Battery Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Solid State Battery Market Overview
10.3.2 Asia-Pacific Solid State Battery Market Forecasts and Analysis
10.3.3 Asia-Pacific Solid State Battery Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Solid State Battery Market Forecasts and Analysis - By Capacity
10.3.5 Asia-Pacific Solid State Battery Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Solid State Battery Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Solid State Battery Market
10.3.6.1.1 Australia Solid State Battery Market by Type
10.3.6.1.2 Australia Solid State Battery Market by Capacity
10.3.6.1.3 Australia Solid State Battery Market by Application
10.3.6.2 China Solid State Battery Market
10.3.6.2.1 China Solid State Battery Market by Type
10.3.6.2.2 China Solid State Battery Market by Capacity
10.3.6.2.3 China Solid State Battery Market by Application
10.3.6.3 India Solid State Battery Market
10.3.6.3.1 India Solid State Battery Market by Type
10.3.6.3.2 India Solid State Battery Market by Capacity
10.3.6.3.3 India Solid State Battery Market by Application
10.3.6.4 Japan Solid State Battery Market
10.3.6.4.1 Japan Solid State Battery Market by Type
10.3.6.4.2 Japan Solid State Battery Market by Capacity
10.3.6.4.3 Japan Solid State Battery Market by Application
10.3.6.5 South Korea Solid State Battery Market
10.3.6.5.1 South Korea Solid State Battery Market by Type
10.3.6.5.2 South Korea Solid State Battery Market by Capacity
10.3.6.5.3 South Korea Solid State Battery Market by Application
10.3.6.6 Rest of Asia-Pacific Solid State Battery Market
10.3.6.6.1 Rest of Asia-Pacific Solid State Battery Market by Type
10.3.6.6.2 Rest of Asia-Pacific Solid State Battery Market by Capacity
10.3.6.6.3 Rest of Asia-Pacific Solid State Battery Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Solid State Battery Market Overview
10.4.2 Middle East and Africa Solid State Battery Market Forecasts and Analysis
10.4.3 Middle East and Africa Solid State Battery Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Solid State Battery Market Forecasts and Analysis - By Capacity
10.4.5 Middle East and Africa Solid State Battery Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Solid State Battery Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Solid State Battery Market
10.4.6.1.1 South Africa Solid State Battery Market by Type
10.4.6.1.2 South Africa Solid State Battery Market by Capacity
10.4.6.1.3 South Africa Solid State Battery Market by Application
10.4.6.2 Saudi Arabia Solid State Battery Market
10.4.6.2.1 Saudi Arabia Solid State Battery Market by Type
10.4.6.2.2 Saudi Arabia Solid State Battery Market by Capacity
10.4.6.2.3 Saudi Arabia Solid State Battery Market by Application
10.4.6.3 U.A.E Solid State Battery Market
10.4.6.3.1 U.A.E Solid State Battery Market by Type
10.4.6.3.2 U.A.E Solid State Battery Market by Capacity
10.4.6.3.3 U.A.E Solid State Battery Market by Application
10.4.6.4 Rest of Middle East and Africa Solid State Battery Market
10.4.6.4.1 Rest of Middle East and Africa Solid State Battery Market by Type
10.4.6.4.2 Rest of Middle East and Africa Solid State Battery Market by Capacity
10.4.6.4.3 Rest of Middle East and Africa Solid State Battery Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Solid State Battery Market Overview
10.5.2 South and Central America Solid State Battery Market Forecasts and Analysis
10.5.3 South and Central America Solid State Battery Market Forecasts and Analysis - By Type
10.5.4 South and Central America Solid State Battery Market Forecasts and Analysis - By Capacity
10.5.5 South and Central America Solid State Battery Market Forecasts and Analysis - By Application
10.5.6 South and Central America Solid State Battery Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Solid State Battery Market
10.5.6.1.1 Brazil Solid State Battery Market by Type
10.5.6.1.2 Brazil Solid State Battery Market by Capacity
10.5.6.1.3 Brazil Solid State Battery Market by Application
10.5.6.2 Argentina Solid State Battery Market
10.5.6.2.1 Argentina Solid State Battery Market by Type
10.5.6.2.2 Argentina Solid State Battery Market by Capacity
10.5.6.2.3 Argentina Solid State Battery Market by Application
10.5.6.3 Rest of South and Central America Solid State Battery Market
10.5.6.3.1 Rest of South and Central America Solid State Battery Market by Type
10.5.6.3.2 Rest of South and Central America Solid State Battery Market by Capacity
10.5.6.3.3 Rest of South and Central America Solid State Battery Market by Application
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. SOLID STATE BATTERY MARKET, KEY COMPANY PROFILES
12.1. BRIGHTVOLT INC.
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. CYMBET CORPORATION
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. EXCELLATRON SOLID STATE, LLC
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. PLANAR ENERGY DEVICES, INC.
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. POLYPLUS BATTERY COMPANIES
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. QUANTUMSCAPE CORPORATION
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. ROBERT BOSCH GMBH
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. SOLID POWER
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. PROLOGIUM TECHNOLOGY
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. STMICROELECTRONICS N.V.
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
The List of Companies
1. BRIGHTVOLT INC.
2. CYMBET CORPORATION
3. Excellatron Solid State, LLC
4. Planar Energy Devices, Inc.
5. Polyplus Battery Companies
6. QUANTUMSCAPE CORPORATION
7. Robert Bosch GmbH
8. Solid Power
9. PROLOGIUM TECHNOLOGY
10. STMICROELECTRONICS N.V.
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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