The global aviation sector is experiencing significant growth in number of aircrafts in the current market scenario. Both the commercial airlines as well as the military forces are procuring aircraft in large numbers, which is creating substantial market space for MRO activities. The increasing MRO activities in recent times are heavily driving the aviation MRO software market, as this software enables the end-users to solve and sort the problems easily. Additionally, the demand for prescriptive and predictive analysis based aircraft maintenance is growing exponentially among the end-users, which is catalyzing the growth of the aviation MRO software market. Rising demand for software as a service among the airlines, aircraft OEMs, and MRO companies is facilitating the aviation MRO software market to escalate over the years. Artificial Intelligence (AI), Internet of Things (IoT), and Big Data is extensively used to stimulate the demand for aviation MRO software market in the coming years.
MARKET SCOPE
The "Global Aviation MRO Software Market Analysis to 2028" is a specialized and in-depth study of the Aviation MRO Software market with a special focus on the global market trend analysis. The report aims to provide an overview of Aviation MRO Software market with detailed market segmentation by solution, end users, application and geography. The global Aviation MRO Software market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Aviation MRO Software market players and offers key trends and opportunities in the Aviation MRO Software market.
MARKET SEGMENTATION
- Based on Solution, the global Aviation MRO software market is segmented into Enterprise Resource Planning (ERP) Solution and Point Solution
- On the basis End Users, the market is segmented into MRO Companies, Airlines, and OEMs.
- Based on Application, the market is bifurcated into Commercial and Military.
MARKET DYNAMICS
Drivers:
- Both the commercial airlines as well as the military forces are procuring aircraft in large numbers
- Increasing MRO activities in recent times
- Demand for prescriptive and predictive analysis based aircraft maintenance is growing exponentially
- Rising demand for software as a service among the airlines, aircraft OEMs, and MRO companies
Restraint -
- High initial cost of the systems
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Aviation MRO Software market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Aviation MRO Software market in these regions.
IMPACT OF COVID-19 ON AVIATION MRO SOFTWARE MARKET
COVID-19 severely impacted the aviation industry by the end of 2020 as there were several travel bans and other lockdown related restrictions imposed across the globe. The impact of the pandemic extends to all segments of the aviation and aerospace industry, including Aviation MRO Software manufacturers. As a result of travel restrictions and economic slowdown due to the pandemic and the consequent fall in demand, airlines have been focusing on reducing costs and expenses, which includes cutting back on MRO spending. Due to long duration of parked aircrafts, there will be an accelerated rate of aircraft retirements and more efficient and sustainable aircrafts will be deployed. Since more maintenance is required by aircrafts as they age, the replacement of older aircrafts by new ones is further affecting the Aviation MRO Software market.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Aviation MRO Software market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Aviation MRO Software market in these regions.
IMPACT OF COVID-19 ON AVIATION MRO SOFTWARE MARKET
COVID-19 severely impacted the aviation industry by the end of 2020 as there were several travel bans and other lockdown related restrictions imposed across the globe. The impact of the pandemic extends to all segments of the aviation and aerospace industry, including Aviation MRO Software manufacturers. As a result of travel restrictions and economic slowdown due to the pandemic and the consequent fall in demand, airlines have been focusing on reducing costs and expenses, which includes cutting back on MRO spending. Due to long duration of parked aircrafts, there will be an accelerated rate of aircraft retirements and more efficient and sustainable aircrafts will be deployed. Since more maintenance is required by aircrafts as they age, the replacement of older aircrafts by new ones is further affecting the Aviation MRO Software market.
MARKET PLAYERS
The reports cover key developments in the Aviation MRO Software market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Aviation MRO Software market are anticipated to lucrative growth opportunities in the future with the rising demand for Aviation MRO Software market. Below mentioned is the list of few companies engaged in the Aviation MRO Software market.
The report also includes the profiles of key Aviation MRO Software market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- The Boeing Company
- IBM
- Ramco Systems Ltd.
- SAP SE
- HCL Technologies
- ORACLE
- Swiss Aviation Software AG
- IBS Software
- COMMSOFT
- Flatirons Solutions
- 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
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Aviation MRO Software Market - By Solution
1.3.2 Aviation MRO Software Market - By End Users
1.3.3 Aviation MRO Software Market - By Application
1.3.4 Aviation MRO Software Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AVIATION MRO SOFTWARE 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. AVIATION MRO SOFTWARE 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. AVIATION MRO SOFTWARE MARKET - GLOBAL MARKET ANALYSIS
6.1. AVIATION MRO SOFTWARE - GLOBAL MARKET OVERVIEW
6.2. AVIATION MRO SOFTWARE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AVIATION MRO SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - SOLUTION
7.1. OVERVIEW
7.2. SOLUTION MARKET FORECASTS AND ANALYSIS
7.3. ENTERPRISE RESOURCE PLANNING (ERP) SOLUTION
7.3.1. Overview
7.3.2. Enterprise Resource Planning (ERP) Solution Market Forecast and Analysis
7.4. POINT SOLUTION
7.4.1. Overview
7.4.2. Point Solution Market Forecast and Analysis
8. AVIATION MRO SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - END USERS
8.1. OVERVIEW
8.2. END USERS MARKET FORECASTS AND ANALYSIS
8.3. MRO COMPANIES
8.3.1. Overview
8.3.2. MRO Companies Market Forecast and Analysis
8.4. AIRLINES
8.4.1. Overview
8.4.2. Airlines Market Forecast and Analysis
8.5. OEMS
8.5.1. Overview
8.5.2. OEMs Market Forecast and Analysis
9. AVIATION MRO SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. COMMERCIAL
9.3.1. Overview
9.3.2. Commercial Market Forecast and Analysis
9.4. MILITARY
9.4.1. Overview
9.4.2. Military Market Forecast and Analysis
10. AVIATION MRO SOFTWARE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Aviation MRO Software Market Overview
10.1.2 North America Aviation MRO Software Market Forecasts and Analysis
10.1.3 North America Aviation MRO Software Market Forecasts and Analysis - By Solution
10.1.4 North America Aviation MRO Software Market Forecasts and Analysis - By End Users
10.1.5 North America Aviation MRO Software Market Forecasts and Analysis - By Application
10.1.6 North America Aviation MRO Software Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Aviation MRO Software Market
10.1.6.1.1 Canada Aviation MRO Software Market by Solution
10.1.6.1.2 Canada Aviation MRO Software Market by End Users
10.1.6.1.3 Canada Aviation MRO Software Market by Application
10.1.6.2 Mexico Aviation MRO Software Market
10.1.6.2.1 Mexico Aviation MRO Software Market by Solution
10.1.6.2.2 Mexico Aviation MRO Software Market by End Users
10.1.6.2.3 Mexico Aviation MRO Software Market by Application
10.1.6.3 US Aviation MRO Software Market
10.1.6.3.1 US Aviation MRO Software Market by Solution
10.1.6.3.2 US Aviation MRO Software Market by End Users
10.1.6.3.3 US Aviation MRO Software Market by Application
10.2. EUROPE
10.2.1 Europe Aviation MRO Software Market Overview
10.2.2 Europe Aviation MRO Software Market Forecasts and Analysis
10.2.3 Europe Aviation MRO Software Market Forecasts and Analysis - By Solution
10.2.4 Europe Aviation MRO Software Market Forecasts and Analysis - By End Users
10.2.5 Europe Aviation MRO Software Market Forecasts and Analysis - By Application
10.2.6 Europe Aviation MRO Software Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Aviation MRO Software Market
10.2.6.1.1 Germany Aviation MRO Software Market by Solution
10.2.6.1.2 Germany Aviation MRO Software Market by End Users
10.2.6.1.3 Germany Aviation MRO Software Market by Application
10.2.6.2 France Aviation MRO Software Market
10.2.6.2.1 France Aviation MRO Software Market by Solution
10.2.6.2.2 France Aviation MRO Software Market by End Users
10.2.6.2.3 France Aviation MRO Software Market by Application
10.2.6.3 Italy Aviation MRO Software Market
10.2.6.3.1 Italy Aviation MRO Software Market by Solution
10.2.6.3.2 Italy Aviation MRO Software Market by End Users
10.2.6.3.3 Italy Aviation MRO Software Market by Application
10.2.6.4 United Kingdom Aviation MRO Software Market
10.2.6.4.1 United Kingdom Aviation MRO Software Market by Solution
10.2.6.4.2 United Kingdom Aviation MRO Software Market by End Users
10.2.6.4.3 United Kingdom Aviation MRO Software Market by Application
10.2.6.5 Russia Aviation MRO Software Market
10.2.6.5.1 Russia Aviation MRO Software Market by Solution
10.2.6.5.2 Russia Aviation MRO Software Market by End Users
10.2.6.5.3 Russia Aviation MRO Software Market by Application
10.2.6.6 Rest of Europe Aviation MRO Software Market
10.2.6.6.1 Rest of Europe Aviation MRO Software Market by Solution
10.2.6.6.2 Rest of Europe Aviation MRO Software Market by End Users
10.2.6.6.3 Rest of Europe Aviation MRO Software Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Aviation MRO Software Market Overview
10.3.2 Asia-Pacific Aviation MRO Software Market Forecasts and Analysis
10.3.3 Asia-Pacific Aviation MRO Software Market Forecasts and Analysis - By Solution
10.3.4 Asia-Pacific Aviation MRO Software Market Forecasts and Analysis - By End Users
10.3.5 Asia-Pacific Aviation MRO Software Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Aviation MRO Software Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Aviation MRO Software Market
10.3.6.1.1 Australia Aviation MRO Software Market by Solution
10.3.6.1.2 Australia Aviation MRO Software Market by End Users
10.3.6.1.3 Australia Aviation MRO Software Market by Application
10.3.6.2 China Aviation MRO Software Market
10.3.6.2.1 China Aviation MRO Software Market by Solution
10.3.6.2.2 China Aviation MRO Software Market by End Users
10.3.6.2.3 China Aviation MRO Software Market by Application
10.3.6.3 India Aviation MRO Software Market
10.3.6.3.1 India Aviation MRO Software Market by Solution
10.3.6.3.2 India Aviation MRO Software Market by End Users
10.3.6.3.3 India Aviation MRO Software Market by Application
10.3.6.4 Japan Aviation MRO Software Market
10.3.6.4.1 Japan Aviation MRO Software Market by Solution
10.3.6.4.2 Japan Aviation MRO Software Market by End Users
10.3.6.4.3 Japan Aviation MRO Software Market by Application
10.3.6.5 South Korea Aviation MRO Software Market
10.3.6.5.1 South Korea Aviation MRO Software Market by Solution
10.3.6.5.2 South Korea Aviation MRO Software Market by End Users
10.3.6.5.3 South Korea Aviation MRO Software Market by Application
10.3.6.6 Rest of Asia-Pacific Aviation MRO Software Market
10.3.6.6.1 Rest of Asia-Pacific Aviation MRO Software Market by Solution
10.3.6.6.2 Rest of Asia-Pacific Aviation MRO Software Market by End Users
10.3.6.6.3 Rest of Asia-Pacific Aviation MRO Software Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Aviation MRO Software Market Overview
10.4.2 Middle East and Africa Aviation MRO Software Market Forecasts and Analysis
10.4.3 Middle East and Africa Aviation MRO Software Market Forecasts and Analysis - By Solution
10.4.4 Middle East and Africa Aviation MRO Software Market Forecasts and Analysis - By End Users
10.4.5 Middle East and Africa Aviation MRO Software Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Aviation MRO Software Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Aviation MRO Software Market
10.4.6.1.1 South Africa Aviation MRO Software Market by Solution
10.4.6.1.2 South Africa Aviation MRO Software Market by End Users
10.4.6.1.3 South Africa Aviation MRO Software Market by Application
10.4.6.2 Saudi Arabia Aviation MRO Software Market
10.4.6.2.1 Saudi Arabia Aviation MRO Software Market by Solution
10.4.6.2.2 Saudi Arabia Aviation MRO Software Market by End Users
10.4.6.2.3 Saudi Arabia Aviation MRO Software Market by Application
10.4.6.3 U.A.E Aviation MRO Software Market
10.4.6.3.1 U.A.E Aviation MRO Software Market by Solution
10.4.6.3.2 U.A.E Aviation MRO Software Market by End Users
10.4.6.3.3 U.A.E Aviation MRO Software Market by Application
10.4.6.4 Rest of Middle East and Africa Aviation MRO Software Market
10.4.6.4.1 Rest of Middle East and Africa Aviation MRO Software Market by Solution
10.4.6.4.2 Rest of Middle East and Africa Aviation MRO Software Market by End Users
10.4.6.4.3 Rest of Middle East and Africa Aviation MRO Software Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Aviation MRO Software Market Overview
10.5.2 South and Central America Aviation MRO Software Market Forecasts and Analysis
10.5.3 South and Central America Aviation MRO Software Market Forecasts and Analysis - By Solution
10.5.4 South and Central America Aviation MRO Software Market Forecasts and Analysis - By End Users
10.5.5 South and Central America Aviation MRO Software Market Forecasts and Analysis - By Application
10.5.6 South and Central America Aviation MRO Software Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Aviation MRO Software Market
10.5.6.1.1 Brazil Aviation MRO Software Market by Solution
10.5.6.1.2 Brazil Aviation MRO Software Market by End Users
10.5.6.1.3 Brazil Aviation MRO Software Market by Application
10.5.6.2 Argentina Aviation MRO Software Market
10.5.6.2.1 Argentina Aviation MRO Software Market by Solution
10.5.6.2.2 Argentina Aviation MRO Software Market by End Users
10.5.6.2.3 Argentina Aviation MRO Software Market by Application
10.5.6.3 Rest of South and Central America Aviation MRO Software Market
10.5.6.3.1 Rest of South and Central America Aviation MRO Software Market by Solution
10.5.6.3.2 Rest of South and Central America Aviation MRO Software Market by End Users
10.5.6.3.3 Rest of South and Central America Aviation MRO Software 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. AVIATION MRO SOFTWARE MARKET, KEY COMPANY PROFILES
12.1. THE BOEING COMPANY
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. IBM
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. RAMCO SYSTEMS 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. SAP SE
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. HCL TECHNOLOGIES
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. ORACLE
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. SWISS AVIATION SOFTWARE AG
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. IBS SOFTWARE
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. COMMSOFT
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. FLATIRONS SOLUTIONS
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. The Boeing Company
2. IBM
3. Ramco Systems Ltd.
4. SAP SE
5. HCL Technologies
6. ORACLE
7. Swiss Aviation Software AG
8. IBS Software
9. COMMSOFT
10. Flatirons Solutions
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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