The SuperMarket is expected to register a CAGR of 16.5% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
Research on supermarket AI-Powered Checkout Market in supermarkets provides an overview of the dynamics currently predominant in the market, along with growth trends likely to be observed in the coming future. The report highlights key drivers of innovation, including improved customer experience and operational efficiency, rising contactless payments, among other drivers, and challenges faced by the sector, such as privacy and implementation costs.
The global market is segmented based on components, and organization size. Segmentation provides great insight into the specific functionalities and preferences that drive each segment.
The report SuperMarket 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.
SuperMarket Segmentation
component- solution
- service
- Small
- Medium
- Large
Strategic Insights
SuperMarket Growth Drivers- Improved operational efficiency and enhanced customer experience: Improved customer experience, being one of the major reasons, is probably why AI checkout systems are being largely adopted. Traditional checkout systems make customers wait for long periods of time, which tends to irritate them. As indicated by a study conducted in 2022 by IHL Group, self-checkout systems can reduce wait times up to 40%. With this checkout streamlining, queues will definitely lessen, since customers can do the transaction at their own pace, which is what most consumers who are tech-savvy like.
- Cost efficiency: Automating checkouts helps supermarkets save labor costs by a huge margin. A McKinsey report says that automated solutions can help retailers save up to 25% in operational costs. An AI-driven system has the capability to analyze real-time data of customer flow and optimize staffing to ensure that no resource is underdeployed or overutilized without affecting service quality.
- AI-powered checkout systems: These systems enable supermarkets to gain valuable insights through data analytics of customer behaviors. This system will not only provide information on purchase patterns but also help the retailer in devising specific marketing strategies as well as manage product inventory. According to a Deloitte study, data-driven decisions increase the productivity and profitability of retail by approximately 5-6%. Knowing customers' likes, the supermarket would make informed decisions on promotions and stock levels, thus boosting sales and enhancing customer satisfaction. According to one study conducted by JDA and Centiro, 62% of consumers prefer stores which have self-service checkout options. The reason behind this change in attitude in consumer behavior signals a change that needs to occur in the supermarket business to meet the expectations set forth by their consumers.
- High-tech AI technologies: The supermarket AI-powered checkout market is a source of significant transformation, moving from several key trends reflecting both advances in technology and changing consumer preferences. After all, today's consumer would like to shop more quickly and conveniently. Because of that, one of the major trends that is finding a hold in the retail sector is an increase in self-checkout systems. Many supermarkets already deploy AI-based self-checkout systems to enable customers to scan items for purchase and independently make a payment. With this, it reduces waiting in line, thus improving customer overall satisfaction. The other critical trend involves the incorporation of high-tech AI technologies like machine learning and computer vision into checkout systems. This sets processes running smooth and automated for item scanning and processing of payments with minimal human error, hence high levels of accuracy. It has been shown from research that a considerable proportion of consumers do not mind adopting this technology if it will add some value to their shopping experience.
- Personalization in the AI-powered checkout: supermarkets exploit data analytics to offer relevant and personalized one-to-one promotions and product recommendations upon checkout. Supported by the analysis of customers' buying behavior, AI can make personalized offers that appeal directly to every unique taste, thus fostering loyalty and encouraging repeat business.
- Real time Transaction Monitoring: While the technology of automation rises, security has become a major concern for AI-powered checkout systems. These can monitor transactions in real time and flag those which may be suspicious or fraudulent activities. As retail theft is an extremely costly one for supermarkets, the use of AI with enhanced security features to contribute to lesser shrinkage protects the profitability of a supermarket business.
- Improve the experience of customers: Attacting better CX by reducing waiting time through features such as automatic checkout and smart carts. Customers can scan their items as they shop; this will give them an efficient and smooth checkout. Supermarkets will have a greater chance of improving customer satisfaction and loyalty from these systems, further foreseen to improve supermarket AI-powered checkout market share in coming.
- Cater Personalized shopping experience: AI can analyze customers' purchase histories and preferences. That gives recommendations and promotions at the point of checkout. This will be a pleasant shopping experience and will also encourage incremental sales since customers are likely to purchase something that comes up as their recommendation and is of interest to them.
- Inventory Management: AI-integrated checkout systems will provide real-time views of inventory. By observing the constant purchasing of certain products together, or trending customer behaviour, supermarkets will be able to keep the appropriate levels of stock and optimize the supply chain by reducing waste and further improving profitability.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the SuperMarket, 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 SuperMarket 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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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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
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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.
Leading market players in this market are -Mashgin, Inc., AiFi Inc., FOCAL SYSTEMS INC., Accel Robotics Corporation, Toshiba Corporation, Fujitsu Limited, NCR Corporation, Standard Cognition, Trigo, Zippin
The market is expected to register a CAGR of 16.5% during 2021-2031
The supermarket AI-powered checkout market is driven by the need for enhanced customer experience, cost efficiency, real-time analytics, and the integration of advanced technologies.
the future of the supermarket AI-powered checkout market is characterized by advancements in technology, personalization, and sustainability.
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 Supermarket AI-powered Checkout Market - By Component
1.3.2 Supermarket AI-powered Checkout Market - By Organization Size
1.3.3 Supermarket AI-powered Checkout Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SUPERMARKET AI-POWERED CHECKOUT 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. SUPERMARKET AI-POWERED CHECKOUT 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. SUPERMARKET AI-POWERED CHECKOUT MARKET - GLOBAL MARKET ANALYSIS
6.1. SUPER - GLOBAL MARKET OVERVIEW
6.2. SUPER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SUPERMARKET AI-POWERED CHECKOUT MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. SOLUTION
7.3.1. Overview
7.3.2. Solution Market Forecast and Analysis
7.4. SERVICES
7.4.1. Overview
7.4.2. Services Market Forecast and Analysis
8. SUPERMARKET AI-POWERED CHECKOUT MARKET - REVENUE AND FORECASTS TO 2028 - ORGANIZATION SIZE
8.1. OVERVIEW
8.2. ORGANIZATION SIZE MARKET FORECASTS AND ANALYSIS
8.3. LARGE ENTERPRISE
8.3.1. Overview
8.3.2. Large Enterprise Market Forecast and Analysis
8.4. SMALL AND MEDIUM ENTERPRISE
8.4.1. Overview
8.4.2. Small and Medium Enterprise Market Forecast and Analysis
9. SUPERMARKET AI-POWERED CHECKOUT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Supermarket AI-powered Checkout Market Overview
9.1.2 North America Supermarket AI-powered Checkout Market Forecasts and Analysis
9.1.3 North America Supermarket AI-powered Checkout Market Forecasts and Analysis - By Component
9.1.4 North America Supermarket AI-powered Checkout Market Forecasts and Analysis - By Organization Size
9.1.5 North America Supermarket AI-powered Checkout Market Forecasts and Analysis - By Countries
9.1.5.1 United States Supermarket AI-powered Checkout Market
9.1.5.1.1 United States Supermarket AI-powered Checkout Market by Component
9.1.5.1.2 United States Supermarket AI-powered Checkout Market by Organization Size
9.1.5.2 Canada Supermarket AI-powered Checkout Market
9.1.5.2.1 Canada Supermarket AI-powered Checkout Market by Component
9.1.5.2.2 Canada Supermarket AI-powered Checkout Market by Organization Size
9.1.5.3 Mexico Supermarket AI-powered Checkout Market
9.1.5.3.1 Mexico Supermarket AI-powered Checkout Market by Component
9.1.5.3.2 Mexico Supermarket AI-powered Checkout Market by Organization Size
9.2. EUROPE
9.2.1 Europe Supermarket AI-powered Checkout Market Overview
9.2.2 Europe Supermarket AI-powered Checkout Market Forecasts and Analysis
9.2.3 Europe Supermarket AI-powered Checkout Market Forecasts and Analysis - By Component
9.2.4 Europe Supermarket AI-powered Checkout Market Forecasts and Analysis - By Organization Size
9.2.5 Europe Supermarket AI-powered Checkout Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Supermarket AI-powered Checkout Market
9.2.5.1.1 Germany Supermarket AI-powered Checkout Market by Component
9.2.5.1.2 Germany Supermarket AI-powered Checkout Market by Organization Size
9.2.5.2 France Supermarket AI-powered Checkout Market
9.2.5.2.1 France Supermarket AI-powered Checkout Market by Component
9.2.5.2.2 France Supermarket AI-powered Checkout Market by Organization Size
9.2.5.3 Italy Supermarket AI-powered Checkout Market
9.2.5.3.1 Italy Supermarket AI-powered Checkout Market by Component
9.2.5.3.2 Italy Supermarket AI-powered Checkout Market by Organization Size
9.2.5.4 United Kingdom Supermarket AI-powered Checkout Market
9.2.5.4.1 United Kingdom Supermarket AI-powered Checkout Market by Component
9.2.5.4.2 United Kingdom Supermarket AI-powered Checkout Market by Organization Size
9.2.5.5 Russia Supermarket AI-powered Checkout Market
9.2.5.5.1 Russia Supermarket AI-powered Checkout Market by Component
9.2.5.5.2 Russia Supermarket AI-powered Checkout Market by Organization Size
9.2.5.6 Rest of Europe Supermarket AI-powered Checkout Market
9.2.5.6.1 Rest of Europe Supermarket AI-powered Checkout Market by Component
9.2.5.6.2 Rest of Europe Supermarket AI-powered Checkout Market by Organization Size
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Supermarket AI-powered Checkout Market Overview
9.3.2 Asia-Pacific Supermarket AI-powered Checkout Market Forecasts and Analysis
9.3.3 Asia-Pacific Supermarket AI-powered Checkout Market Forecasts and Analysis - By Component
9.3.4 Asia-Pacific Supermarket AI-powered Checkout Market Forecasts and Analysis - By Organization Size
9.3.5 Asia-Pacific Supermarket AI-powered Checkout Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Supermarket AI-powered Checkout Market
9.3.5.1.1 Australia Supermarket AI-powered Checkout Market by Component
9.3.5.1.2 Australia Supermarket AI-powered Checkout Market by Organization Size
9.3.5.2 China Supermarket AI-powered Checkout Market
9.3.5.2.1 China Supermarket AI-powered Checkout Market by Component
9.3.5.2.2 China Supermarket AI-powered Checkout Market by Organization Size
9.3.5.3 India Supermarket AI-powered Checkout Market
9.3.5.3.1 India Supermarket AI-powered Checkout Market by Component
9.3.5.3.2 India Supermarket AI-powered Checkout Market by Organization Size
9.3.5.4 Japan Supermarket AI-powered Checkout Market
9.3.5.4.1 Japan Supermarket AI-powered Checkout Market by Component
9.3.5.4.2 Japan Supermarket AI-powered Checkout Market by Organization Size
9.3.5.5 South Korea Supermarket AI-powered Checkout Market
9.3.5.5.1 South Korea Supermarket AI-powered Checkout Market by Component
9.3.5.5.2 South Korea Supermarket AI-powered Checkout Market by Organization Size
9.3.5.6 Rest of Asia-Pacific Supermarket AI-powered Checkout Market
9.3.5.6.1 Rest of Asia-Pacific Supermarket AI-powered Checkout Market by Component
9.3.5.6.2 Rest of Asia-Pacific Supermarket AI-powered Checkout Market by Organization Size
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Supermarket AI-powered Checkout Market Overview
9.4.2 Middle East and Africa Supermarket AI-powered Checkout Market Forecasts and Analysis
9.4.3 Middle East and Africa Supermarket AI-powered Checkout Market Forecasts and Analysis - By Component
9.4.4 Middle East and Africa Supermarket AI-powered Checkout Market Forecasts and Analysis - By Organization Size
9.4.5 Middle East and Africa Supermarket AI-powered Checkout Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Supermarket AI-powered Checkout Market
9.4.5.1.1 South Africa Supermarket AI-powered Checkout Market by Component
9.4.5.1.2 South Africa Supermarket AI-powered Checkout Market by Organization Size
9.4.5.2 Saudi Arabia Supermarket AI-powered Checkout Market
9.4.5.2.1 Saudi Arabia Supermarket AI-powered Checkout Market by Component
9.4.5.2.2 Saudi Arabia Supermarket AI-powered Checkout Market by Organization Size
9.4.5.3 U.A.E Supermarket AI-powered Checkout Market
9.4.5.3.1 U.A.E Supermarket AI-powered Checkout Market by Component
9.4.5.3.2 U.A.E Supermarket AI-powered Checkout Market by Organization Size
9.4.5.4 Rest of Middle East and Africa Supermarket AI-powered Checkout Market
9.4.5.4.1 Rest of Middle East and Africa Supermarket AI-powered Checkout Market by Component
9.4.5.4.2 Rest of Middle East and Africa Supermarket AI-powered Checkout Market by Organization Size
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Supermarket AI-powered Checkout Market Overview
9.5.2 South and Central America Supermarket AI-powered Checkout Market Forecasts and Analysis
9.5.3 South and Central America Supermarket AI-powered Checkout Market Forecasts and Analysis - By Component
9.5.4 South and Central America Supermarket AI-powered Checkout Market Forecasts and Analysis - By Organization Size
9.5.5 South and Central America Supermarket AI-powered Checkout Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Supermarket AI-powered Checkout Market
9.5.5.1.1 Brazil Supermarket AI-powered Checkout Market by Component
9.5.5.1.2 Brazil Supermarket AI-powered Checkout Market by Organization Size
9.5.5.2 Argentina Supermarket AI-powered Checkout Market
9.5.5.2.1 Argentina Supermarket AI-powered Checkout Market by Component
9.5.5.2.2 Argentina Supermarket AI-powered Checkout Market by Organization Size
9.5.5.3 Rest of South and Central America Supermarket AI-powered Checkout Market
9.5.5.3.1 Rest of South and Central America Supermarket AI-powered Checkout Market by Component
9.5.5.3.2 Rest of South and Central America Supermarket AI-powered Checkout Market by Organization Size
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SUPERMARKET AI-POWERED CHECKOUT MARKET, KEY COMPANY PROFILES
11.1. MASHGIN, INC.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. AIFI INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. FOCAL SYSTEMS INC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. ACCEL ROBOTICS CORPORATION
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. TOSHIBA CORPORATION
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. FUJITSU LIMITED
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. NCR CORPORATION
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. STANDARD COGNITION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. TRIGO
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. ZIPPIN
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. Mashgin, Inc.
2. AiFi Inc.
3. FOCAL SYSTEMS INC.
4. Accel Robotics Corporation
5. Toshiba Corporation
6. Fujitsu Limited
7. NCR Corporation
8. Standard Cognition
9. Trigo
10. Zippin
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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