The Commercial Vehicles (CV) active power steering market volume is expected to grow from 12,572 units in 2016 to 955,233 by 2025 at a CAGR of 18.38% between 2017 and 2025.
Large number of manufacturers are shifting towards EPS because eliminating an engine-driven hydraulic pump increases gas mileage by about 1 mpg. Therefore Electric power steering segment is leading the global Commercial Vehicle (CV) active power steering market in 2015, and is expected to continue its dominance during the forecast period. However, safety is one of the prime focus in heavy commercial vehicles. Automotive manufacturers are advancing existing steering systems by integrating new safety modules in hydraulic steering systems such as active steering.
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Commercial Vehicle (CV) Active Power Steering Market: Strategic Insights
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Key trend which will predominantly effect the market in the coming years is advanced assistance functions of power steering. The advanced active power steering are known to be highly compatible with the advanced assistance systems and therefore in the years to come it may witness numerous improvised and novel assistance functions for steering, that presently are under development. These assistance functions when integrated with the steering systems can generate a significant improvisation in the assistance systems which can be further enhanced by the integration of steering data with the assistance functions.
Commercial Vehicles (CV) active power steering market by application is segmented into medium and heavy commercial vehicles. Majority of the commercial vehicles operating in the medium and heavy range are largely steered by hydraulic power steering. Very few MCVs use an electrified steering solution, while none of the HCVs are able to use electrified steering because of the front axle load. However, LCV`s remain the highly accepted vehicles with active steering in EPS. Heavy vehicles will observe the first implementations followed by medium vehicles.
The overall Commercial Vehicles (CV) active power steering market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the Commercial Vehicles (CV) active power steering market.
Some of the key players of Commercial Vehicles (CV) active power steering market includes
- ZF Friedrichshafen AG
- tedrive steering systems GmbH
- BMW AG
- Ognibene Power SPA
- AB Volvo
- Daimler AG
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.
Table of Contents
1. Table of Contents
1.1 List of Tables 9
1.2 List of Figures 10
2 Introduction 14
2.1 The Insight Partners Research Report Guidance 14
3 Key Takeaways 15
4 Commercial Vehicle (CV) Active Power Steering Market Landscape 17
4.1 Overview 17
4.2 Market Segmentation 18
4.2.1 Global Commercial Vehicle (CV) Active Power Steering Market - By Type 19
4.2.2 Global Commercial Vehicle (CV) Active Power Steering Market - By Application 20
4.2.3 Global Commercial Vehicle (CV) Active Power Steering Market - By Geography 20
4.3 PEST Analysis 21
4.3.1 North America PEST Analysis 21
4.3.2 Europe PEST Analysis 23
4.3.3 Asia Pacific PEST Analysis 25
4.3.4 Middle East and Africa PEST Analysis 28
4.3.5 South America PEST Analysis 31
5 Global Commercial Vehicle (CV) Active Power Steering Market - Key Industry Dynamics 33
5.1 Key Market Drivers 33
5.1.1 Emerging Demand for fuel efficient driving solutions 33
5.1.2 Burgeoning Number of Commercial Vehicles 33
5.1.3 Shift in driving technology 34
5.2 Key Market Restraints 35
5.2.1 Low awareness and moderate adoption rate 35
5.2.2 Highly expensive 35
5.3 Key Market Opportunities 35
5.3.1 Emergence of Advanced Driver Assistance Systems (ADAS) 35
5.3.2 Growing adoption of active safety systems in vehicles 36
5.4 Future Trends 36
5.4.1 Advanced assistance functions of power steering 36
5.5 Technological Trends 37
5.6 Impact Analysis of Drivers and Restraints 38
6 Commercial Vehicle (CV) Active Power Steering Market - Global 39
6.1 Global Commercial Vehicle (CV) Active Power Steering Market Overview 39
6.2 Global Commercial Vehicle (CV) Active Power Steering Market Forecast and Analysis 40
7 Global Commercial Vehicle (CV) Active Power Steering Market Analysis - By Type 43
7.1 Overview 43
7.2 Electric Power Steering (EPS) 44
7.2.1 Overview 44
7.2.2 Global Electric Power Steering (EPS) Market Volume and Forecasts to 2025 (Units) 44
7.3 Electro-Hydraulic Power Steering (EHPS) 46
7.3.1 Overview 46
7.3.2 Global Electro-Hydraulic Power Steering (EHPS) Market Volume and Forecasts to 2025 (Units) 46
8 Global Commercial Vehicle (CV) Active Power Steering Market Analysis -By Application 48
8.1 Overview 48
8.2 Medium Commercial Vehicle 49
8.2.1 Overview 49
8.2.2 Global Medium Commercial Vehicle Market Volume and Forecasts to 2025 (Units) 49
8.3 Heavy Commercial Vehicle 50
8.3.1 Overview 50
8.3.2 Global Heavy Commercial Vehicle Market Volume and Forecasts to 2025 (Units) 51
9 Global Commercial Vehicle (CV) Active Power Steering Market - Geographical Analysis 52
9.1 Overview 52
9.2 North America Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 53
9.2.1 Overview 53
9.2.2 North America Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 54
9.2.3 North America Commercial Vehicle (CV) Active Power Steering Market Breakdown by Key Countries 56
9.2.3.1 U.S. Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 57
9.2.3.2 Canada Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 58
9.2.3.3 Mexico Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 59
9.2.4 North America Commercial Vehicle (CV) Active Power Steering Market Breakdown by Type 60
9.2.5 North America Commercial Vehicle (CV) Active Power Steering Market Breakdown by Application 61
9.3 Europe Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 63
9.3.1 Overview 63
9.3.2 Europe Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 64
9.3.3 Europe Commercial Vehicle (CV) Active Power Steering Market Breakdown by Key Countries 65
9.3.3.1 France Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 66
9.3.3.2 Germany Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 67
9.3.3.3 UK Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 68
9.3.3.4 Italy Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 69
9.3.3.5 Spain Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 70
9.3.4 Europe Commercial Vehicle (CV) Active Power Steering Market Breakdown by Type 71
9.3.5 Europe Commercial Vehicle (CV) Active Power Steering Market Breakdown by Application 72
9.4 Asia Pacific (APAC) Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 74
9.4.1 Overview 74
9.4.2 Asia Pacific Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 74
9.4.3 Asia Pacific Commercial Vehicle (CV) Active Power Steering Market Breakdown by Key Countries 76
9.4.3.1 China Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 77
9.4.3.2 India Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 78
9.4.3.3 Australia Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 79
9.4.3.4 Japan Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 80
9.4.4 Asia Pacific Commercial Vehicle (CV) Active Power Steering Market Breakdown by Type 81
9.4.5 Asia Pacific Commercial Vehicle (CV) Active Power Steering Market Breakdown by Application 82
9.5 Middle East & Africa (MEA) Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 84
9.5.1 Overview 84
9.5.2 Middle East & Africa Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 84
9.5.3 Middle East & Africa Commercial Vehicle (CV) Active Power Steering Market Breakdown by Key Countries 86
9.5.3.1 Saudi Arabia Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 87
9.5.3.2 UAE Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 88
9.5.3.3 South Africa Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 89
9.5.4 Middle East & Africa Commercial Vehicle (CV) Active Power Steering Market Breakdown by Type 90
9.5.5 Middle East & Africa Commercial Vehicle (CV) Active Power Steering Market Breakdown by Application 91
9.6 South America Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 93
9.6.1 Overview 93
9.6.2 South America Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 93
9.6.3 South America Commercial Vehicle (CV) Active Power Steering Market Breakdown by Key Countries 94
9.6.3.1 Brazil Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 96
9.6.4 South America Commercial Vehicle (CV) Active Power Steering Market Breakdown by Type 97
9.6.5 South America Commercial Vehicle (CV) Active Power Steering Market Breakdown by Application 98
10 Industry Landscape 101
10.1 Market Initative 101
10.2 Merger and Acquisition 101
10.3 New Development 102
10.4 Investment Scenario 102
11 Competitive Landscape 103
11.1 Competitive Product Mapping 103
12 Commercial Vehicle (CV) Active Power Steering Market, Key Company Profiles 104
12.1 BMW AG 104
12.1.1 Key Facts 104
12.1.2 Business Description 104
12.1.3 Financial Overview 105
12.1.4 SWOT Analysis 106
12.1.5 Key Developments 108
12.2 Knorr-Bremse AG 109
12.2.1 Key Facts 109
12.2.2 Business Description 109
12.2.3 Financial Overview 110
12.2.4 SWOT Analysis 111
12.2.5 Key Developments 113
12.3 Ognibene Power SPA 114
12.3.1 Key Facts 114
12.3.2 Business Description 114
12.3.3 Financial Overview 114
12.3.4 SWOT Analysis 115
12.3.5 Key Developments 116
12.4 Robert Bosch GmbH 117
12.4.1 Key Facts 117
12.4.2 Business Description 117
12.4.3 Financial Overview 118
12.4.4 SWOT Analysis 119
12.4.5 Key Developments 121
12.5 tedrive Steering Systems GmbH 122
12.5.1 Key Facts 122
12.5.2 Business Description 122
12.5.3 Financial Overview 122
12.5.4 SWOT Analysis 123
12.5.5 Key Developments 125
12.6 AB Volvo 126
12.6.1 Key Facts 126
12.6.2 Business Description 126
12.6.3 Financial Overview 127
12.6.4 SWOT Analysis 128
12.6.5 Key Developments 130
12.7 Daimler AG 132
12.7.1 Key Facts 132
12.7.2 Business Description 132
12.7.3 Financial Overview 133
12.7.4 SWOT Analysis 134
12.7.5 Key Developments 136
13 Appendix 137
13.1 About The Insight Partners 137
13.2 Glossary of Terms 137
13.3 Methodology 138
13.3.1 Coverage 139
13.3.2 Secondary Research 139
13.3.3 Primary Research 140
13.4 Contact Us 141
13.5 Disclaimer 141
List of Tables
Table 1: Global Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 41
Table 2: North America Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 - By Type (Units) 61
Table 3: North America Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 - By Application (Units) 62
Table 4: Europe Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 - By Type (Units) 72
Table 5: Europe Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 - By Application (Units) 73
Table 6: Asia Pacific Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 - By Type (Units) 82
Table 7: Asia Pacific Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 - By Application (Units) 83
Table 8: Middle East & Africa Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 - By Type (Units) 91
Table 9: Middle East & Africa Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 - By Application (Units) 92
Table 10: South America Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 - By Type (Units) 98
Table 11: South America Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 - By Application (Units) 99
Table 12: Glossary of Terms, Commercial Vehicle (CV) Active Power Steering Market 137
List of Figures
Figure 1: Commercial Vehicle (CV) Active Power Steering Market, Global Volume (Units), 2020 - 2025 15
Figure 2: Commercial Vehicle (CV) Active Power Steering Market Segmentation 18
Figure 3: Commercial Vehicle (CV) Active Power Steering Market Segmentation 19
Figure 4: North America PEST Analysis 21
Figure 5: Europe PEST Analysis 23
Figure 6: APAC PEST Analysis 25
Figure 7: MEA PEST Analysis 28
Figure 8: SAM PEST Analysis 31
Figure 9: Global Commercial Vehicle (CV) Active Power Steering Market Impact Analysis of Driver and Restraints 38
Figure 10: Global Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 42
Figure 11: Global Commercial Vehicle (CV) Active Power Steering Market Breakdown By Type, 2020 & 2025 (%) 44
Figure 12: Global Electric Power Steering (EPS) Market Volume and Forecasts to 2025 (Units) 45
Figure 13: Global Electro-Hydraulic Power Steering (EHPS) Market Volume and Forecasts to 2025 (Units) 47
Figure 14: Global Commercial Vehicle (CV) Active Power Steering Market Breakdown By Application, 2021 & 2025 (%) 49
Figure 15: Global Medium Commercial Vehicle Market Volume and Forecasts to 2025 (Units) 50
Figure 16: Global Heavy Commercial Vehicle Market Volume and Forecasts to 2025 (Units) 51
Figure 17: Commercial Vehicle (CV) Active Power Steering Market, Global Breakdown by Regions, 2015 & 2025 (%) 52
Figure 18: North America Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 55
Figure 19: North America Commercial Vehicle (CV) Active Power Steering Market Breakdown by Key Countries, 2015 & 2025(%) 56
Figure 20: U.S. Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 57
Figure 21: Canada Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 58
Figure 22: Mexico Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 59
Figure 23: North America Commercial Vehicle (CV) Active Power Steering Market Breakdown by Type, 2015 & 2025 (%) 60
Figure 24: North America Commercial Vehicle (CV) Active Power Steering Market Breakdown By Application, 2021 & 2025 (%) 62
Figure 25: Europe Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 64
Figure 26: Europe Commercial Vehicle (CV) Active Power Steering Market Breakdown by Key Countries, 2015 & 2025(%) 65
Figure 27: France Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 66
Figure 28: Germany Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 67
Figure 29: UK Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 68
Figure 30: Italy Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 69
Figure 31: Spain Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 70
Figure 32: Europe Commercial Vehicle (CV) Active Power Steering Market Breakdown by Type, 2015 & 2025 (%) 71
Figure 33: Europe Commercial Vehicle (CV) Active Power Steering Market Breakdown By Application, 2015 & 2025 (%) 73
Figure 34: Asia Pacific Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 75
Figure 35: Asia Pacific Commercial Vehicle (CV) Active Power Steering Market Breakdown by Key Countries, 2015 & 2025(%) 76
Figure 36: China Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 77
Figure 37: India Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 78
Figure 38: Australia Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 79
Figure 39: Japan Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 80
Figure 40: Asia Pacific Commercial Vehicle (CV) Active Power Steering Market Breakdown by Type, 2015 & 2025 (%) 81
Figure 41: Asia Pacific Commercial Vehicle (CV) Active Power Steering Market Breakdown By Application, 2021 & 2025(%) 83
Figure 42: Middle East & Africa Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 85
Figure 43: Middle East & Africa Commercial Vehicle (CV) Active Power Steering Market Breakdown by Key Countries, 2015 & 2025 (%) 86
Figure 44: Saudi Arabia Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 87
Figure 45: UAE Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 88
Figure 46: South Africa Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 89
Figure 47: Middle East & Africa Commercial Vehicle (CV) Active Power Steering Market Breakdown by Type, 2015 & 2025 (%) 90
Figure 48: Middle East & Africa Commercial Vehicle (CV) Active Power Steering Market Breakdown By Application, 2021 & 2025(%) 92
Figure 49: South America Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 94
Figure 50: South America Commercial Vehicle (CV) Active Power Steering Market Breakdown by Key Countries, 2015 & 2025 (%) 95
Figure 51: Brazil Commercial Vehicle (CV) Active Power Steering Market Volume and Forecasts to 2025 (Units) 96
Figure 52: South America Commercial Vehicle (CV) Active Power Steering Market Breakdown by Type, 2015 & 2025 (%) 97
Figure 53: South America Commercial Vehicle (CV) Active Power Steering Market Breakdown By Application, 2021 & 2025(%) 99
Figure 54: Commercial Vehicle (CV) Active Power Steering Market Competitive Product Mapping 103
The List of Companies - Commercial Vehicle (CV) Active Power Steering Market
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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