Chile Forklifts Market Trends, Share, and Growth (2021-2031)
The Chile forklifts market size is projected to reach US$ 1,711.91 million by 2031 from US$ 766.62 million in 2023. The market is expected to register a CAGR of 10.56% during 2023–2031. The growing adoption of electric and hybrid forklifts is likely to emerge as a key trend in the market during the forecast period.
Chile Forklifts Market Analysis
The e-commerce sector in Chile has experienced growth over the last decade owing to the country's rapid and continuing technological and infrastructure development. The introduction of 5G service in 2021 and the growing acceptance of e-commerce since the beginning of the COVID-19 pandemic fueled the requirement for warehouse management. There is an increased demand for competent and technologically advanced industrial vehicles such as forklifts to achieve smooth and efficient operations in the e-commerce sector in Chile.
Chile Forklifts Market Overview
The Chile forklifts market growth is driven by increasing investments in the food industries in the country, along with growing warehouse optimization. In August 2023, the International Finance Corporation (IFC) invested US$ 50 million in Chile-based food processing company Sugal Chile Limitada, a subsidiary of the Sugal Group. The company is the second largest exporter and producer of tomato pastes. Such, increasing investments in the food processing industry drives the market growth.
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Chile Forklifts Market: Strategic Insights
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Chile Forklifts Market: Strategic Insights
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Speak to AnalystChile Forklifts Market Drivers and Opportunities
Rising E-Commerce Business Activities Drives Chile Forklifts Market Growth
The changing consumer shopping preference from physical shops to online stores and apps is a key factor supporting the growth of e-commerce facilities in Chile. Also, there was an increase in cross-border e-commerce activities as consumers purchased products from international markets and had items delivered locally using logistics services. Apparel and accessories, food and beverages, cosmetics and personal care products, medicines and drugs, books, footwear, furniture and home decor items, and electronic appliances are major items purchased using e-commerce facilities in Chile. As per the Santiago Chamber of Commerce (CCS), business-to-customer (B2C) e-commerce sales reached US$ 10.5 billion in 2022. Chile held the fourth-largest e-commerce market share in Latin America in 2023, accounting for about ~6.3% of regional e-commerce revenue share. The country’s e-commerce position is steadily increasing, with an online shopping growth rate of more than ~26% in 2023. Rising inclination toward online shopping propels the demand for proper logistics and warehouse services in the country.
E-commerce giants and logistics service providers are increasingly investing in high-end warehouses that depend heavily on industrial vehicles for material handling and storage. Forklifts, an important component of these operations, are employed to effectively move and stack goods within advanced warehouse facilities. The demand for forklifts equipped with advanced features such as telematics and automation are growing as businesses strive to boost operational efficiency and meet the massive demands of online consumers. Thus, the growing e-commerce sector bolsters the forklift market growth in Chile.
Positive Outlook of Mining Sector
The mining sector's involvement in Chile’s GDP was ~13.6% in 2022, and mining exports accounted for ~58% of total country exports. The country is one of the leading copper producers across the world, holding ~24% of global copper production. Chile is also one of the major producers of lithium, contributing to ~30% of world production, as per the United States Geological Survey (USGS). As per the USGS, Chile's lithium production output increased from 28,300 MT of lithium content in 2021 to 39,000 MT in 2022. Chile is also promoting the discovery of new mineral exploration sites.
Chile Forklifts Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Chile forklifts market analysis are product type, class, movement type, and end-use industry.
- Based on product type, the Chile forklifts market is segmented into outrigger, narrow-aisle, and counterbalance. The counterbalance segment held the largest market share in 2023.
- In terms of class, the market is divided into class I, class II, class III, class IV, class V, class VI, and class VII. The class I segment dominated the market in 2023.
- In terms of movement type, the Chile forklifts market is bifurcated into traditional and omnidirectional. The traditional segment dominated the market in 2023.
- In terms of application, the market is segmented into industrial, food and beverages, transportation and logistics, retail and e-commerce, chemicals, and others. The transportation and logistics segment dominated the market in 2023.
Chile Forklifts Market Share Analysis by Geography
The geographic scope of the Chile forklifts market report offers a detailed country analysis. Chile's economy primarily relies on export-oriented sectors such as mining, forestry, and agriculture. In 2023, the GDP witnessed a modest decline of 0.5% compared to 2022, attributed to weakened domestic demand and constrained credit conditions, as per the IMF data. However, Chile's economy is expected to rise in 2024 and 2025, with growth rates predicted at 1.6% and 2.3%, respectively. Chile has a progressive food processing industry that generates ~US$ 23.3 billion annually and is predicted to develop by ~35% by 2030. The country has been one of the developing economies across South America and has a dynamic food retail industry. Wine, dairy, fresh fruits, salmon, poultry, pork, and forestry products are the key products exported by Chile. In the country, mining is one of the major industries, contributing to a substantial share of the overall economy of Chile. The mining sector's contribution to the country's GDP was ~13.6% in 2022, and mining exports reached ~58% of total country exports. Chile is one of the leading copper producers globally, with ~24% of global copper production, according to the United States Geological Survey (USGS). The country is also one of the substantial producers of lithium, with ~30% share of global production.
The growing developments in the industrial sector drive the forklifts market in Chile. Forklifts have potential applications in the food & beverages, industrial, chemicals, and logistics sectors. Additionally, the increasing advancements in the manufacturing sector and growing developments in the e-commerce and retail sectors propel the market growth. The growing consumer inclination for online shopping is increasing the requirement for warehouses and logistic services, which is fueling the application of forklifts for moving, transferring, storing, and delivering products in warehouses or storage hubs. Furthermore, product developments and upgrading and maintaining features in existing product lines drive the Chile forklifts market growth. Konecranes, Toyota Material Handling, and J C Bamford Excavators Ltd. are among the key companies offering forklifts in Chile.
Chile Forklifts Market Report Scope
Chile Forklifts Market News and Recent Developments
The Chile forklifts market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the market are listed below:
- Cyngn Inc. (a pioneer in AI-powered autonomous driving solutions for industrial settings) and Arauco (a global sustainable forestry products, pulp, and engineered wood provider for the construction and furniture sectors) announced the continuation of their partnership with a paid pre-order agreement. Cyngn announced that Arauco made a commitment to purchase 100 DriveMod Forklifts on August 8, a testament to Arauco's dedication to automating their material handling processes within wood and pulp manufacturing facilities. (Source: Kayflow, Press Release, September 2023)
- Komatsu Ltd. developed and unveiled a concept machine for an electric forklift powered by sodium-ion batteries, ready to start PoC tests at customer worksites from March 2024. This marks Komatsu's inaugural venture into equipping machines with sodium-ion batteries, and it is also a pioneering effort in the world to install them on forklifts. The forthcoming site trials aim to validate the optimal usage based on the new battery's performance and its unique characteristics, with an eye toward future commercial production. (Source: Komatsu Ltd, Press Release, March 2024)
Chile Forklifts Market Report Coverage and Deliverables
The “Chile Forklifts Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Chile forklifts market size and forecast at country levels for all the key market segments covered under the scope
- Chile forklifts market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Chile forklifts market analysis covering key market trends, country framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Chile forklifts market
- Detailed company profiles
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
The mining sector's involvement in Chile’s GDP was ~13.6% in 2022, and mining exports accounted for ~58% of total country exports. The country is one of the leading copper producers across the world, holding ~24% of global copper production. Chile is also one of the major producers of lithium, contributing to ~30% of world production, as per the United States Geological Survey (USGS). As per the USGS, Chile's lithium production output increased from 28,300 MT of lithium content in 2021 to 39,000 MT in 2022. Chile is also promoting the discovery of new mineral exploration sites.
The mounting importance of sustainability and eco-friendly solutions in the industrial sector fuels the demand for innovative industrial vehicles. Electric and hybrid forklifts are increasingly preferred as eco-friendly alternatives to address concerns about high carbon emissions, poor air quality, and the carbon footprint of industrial operations.
The e-commerce sector in Chile has experienced growth over the last decade owing to the country's rapid and continuing technological and infrastructure development. The introduction of 5G service in 2021 and the growing acceptance of e-commerce since the beginning of the COVID-19 pandemic fuel the requirement for warehouse management. There is an increased demand for competent and technologically advanced industrial vehicles, such as forklifts, to achieve smooth and efficient operations in the e-commerce sector in Chile.
EP Equipment; Toyota Industries Corporation; MITSUBISHI HEAVY INDUSTRIES, LTD.; Komatsu Limited; Konecranes; Anhui Heli Co., Ltd.; Hyster-Yale Materials Handling, Inc.; Jungheinrich AG; Crown Equipment Corporation; and Clark Material Handling Company are among the key players operating in the Chile forklifts market.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Chile Forklifts Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 Suppliers and Component Manufacturers
4.3.2 Manufacturers
4.3.3 End Users
4.3.4 List of Vendors in the Value Chain
5. Chile Forklifts Market – Key Market Dynamics
5.1 Chile Forklifts Market – Key Market Dynamics
5.2 Key Market Drivers:
5.2.1 Rising E-Commerce Business Activities
5.2.2 Rising Demand from Growing Food Industry
5.3 Key Market Restraints:
5.3.1 Growing Adoption of Industrial Robotics and Automation
5.4 Key Market Opportunities:
5.4.1 Positive Outlook of Mining Sector
5.5 Future Trends:
5.5.1 Growing Adoption of Electric and Hybrid Forklifts
5.6 Impact of Drivers and Restraints
6. Chile Forklifts Market Analysis
6.1 Chile Forklifts Market Revenue (US$ Million), 2023 – 2031
6.2 Chile Forklifts Market Revenue (US$ Million), 2021–2031
6.3 Chile Forklifts Market Forecast and Analysis
7. Chile Forklifts Market Analysis – by Product Type
7.1 Outrigger
7.1.1 Overview
7.1.2 Outrigger: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Narrow-Aisle
7.2.1 Overview
7.2.2 Narrow-Aisle: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
7.3 Counterbalance
7.3.1 Overview
7.3.2 Counterbalance: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
8. Chile Forklifts Market Analysis – by Class
8.1 Class I
8.1.1 Overview
8.1.2 Class I: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Class II
8.2.1 Overview
8.2.2 Class II: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Class III
8.3.1 Overview
8.3.2 Class III: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
8.4 Class IV
8.4.1 Overview
8.4.2 Class IV: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
8.5 Class V
8.5.1 Overview
8.5.2 Class V: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
8.6 Class VI
8.6.1 Overview
8.6.2 Class VI: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
8.7 Class VII
8.7.1 Overview
8.7.2 Class VII: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
9. Chile Forklifts Market Analysis – by Movement Type
9.1 Traditional
9.1.1 Overview
9.1.2 Traditional: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
9.2 Omnidirectional
9.2.1 Overview
9.2.2 Omnidirectional: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
10. Chile Forklifts Market Analysis – by End-use Industry
10.1 Industrial
10.1.1 Overview
10.1.2 Industrial: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
10.2 Food and Beverages
10.2.1 Overview
10.2.2 Food and Beverages: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
10.3 Transportation and Logistics
10.3.1 Overview
10.3.2 Transportation and Logistics: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
10.4 Retail and E-Commerce
10.4.1 Overview
10.4.2 Retail and E-Commerce: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
10.5 Chemicals
10.5.1 Overview
10.5.2 Chemicals: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
10.6 Others
10.6.1 Overview
10.6.2 Others: Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
12. Company Profiles
12.1 Hyster-Yale Materials Handling 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 CLARK Material Handling Co
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 Konecranes Plc
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 Toyota Material Handling 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 Caterpillar Inc
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 J C Bamford Excavators Ltd
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 Crown Equipment Corp
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 Komatsu Ltd
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 EP Equipment
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 SINOWAY INDUSTRIAL (SHANGHAI) CO.,LTD.
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
List of Tables
Table 1. Chile Forklifts Market Segmentation
Table 2. List of Vendors
Table 3. Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 5. Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million) – by Class
Table 6. Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million) – by Movement Type
Table 7. Chile Forklifts Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
List of Figures
Figure 1. Chile Forklifts Market Segmentation, by Country
Figure 2. Chile Forklifts Market - PEST Analysis
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Chile Forklifts Market Revenue (US$ Million), 2021–2031
Figure 5. Chile Forklifts Market Share (%) – by Product Type, 2023 and 2031
Figure 6. Outrigger: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
Figure 7. Narrow-Aisle: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
Figure 8. Counterbalance: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
Figure 9. Chile Forklifts Market Share (%) – by Class, 2023 and 2031
Figure 10. Class I: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
Figure 11. Class II: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
Figure 12. Class III: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
Figure 13. Class IV: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
Figure 14. Class V: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
Figure 15. Class VI: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
Figure 16. Class VII: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
Figure 17. Chile Forklifts Market Share (%) – by Movement Type, 2023 and 2031
Figure 18. Traditional: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
Figure 19. Omnidirectional: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
Figure 20. Chile Forklifts Market Share (%) – by End-use Industry, 2023 and 2031
Figure 21. Industrial: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
Figure 22. Food and Beverages: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
Figure 23. Transportation and Logistics: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
Figure 24. Retail and E-Commerce: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
Figure 25. Chemicals: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
Figure 26. Others: Chile Forklifts Market– Revenue and Forecast to 2031 (US$ Million)
The List of Companies - Chile Forklifts Market
- EP Equipment
- Toyota Industries Corporation
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- Komatsu Limited
- Konecranes
- Anhui Heli Co., Ltd.
- Hyster-Yale Materials Handling, Inc.
- Jungheinrich AG
- Crown Equipment Corporation
- Clark Material Handling Company
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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