Food Automation Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Food Automation Market covers analysis by Type (Motors and Generators, Motor Controls, Discrete Controller Systems and Visualization, Rotary and Linear Products, Others); Function (Packaging and Re-Packaging, Palletizing, Sorting and Grading, Picking and Placing, Processing, Other Functions); Application (Dairy, Bakery, Beverage, Confectionery, Fruits and Vegetables, Meat Poultry and Seafood, Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00005144
  • Category : Manufacturing and Construction
  • Status : Upcoming
  • No. of Pages : 150
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MARKET INTRODUCTION
Automation is the formation of technology and its application to control and monitor the production and delivery of various goods and services. It executes tasks that were previously done by humans. Food automation is used in the food and beverage industry to prepare, processed, and packaged food products by an automated process. Food automation provides consistently better quality, improves picking and handling times, and increases output by speeding up packaging processes of the food product in food processing. The implementation of food automation in the food industry is all because of the increasing demand for profitability, quality, and production of foods.

MARKET DYNAMICS
Technological advancements in food and beverage industry across the globe is driving the demand for food automation market. Furthermore demand for advanced machinery with high productivity and efficiency is also projected to greatly influence the food automation market. Moreover, inclination of consumers towards processed and ready to eat foods worldwide is expected to have a robust impact in the food automation market. Emerging strict international food safety regulations in the developed nation is estimated to generate untapped opportunity for the market participants.

MARKET SCOPE
The "Global Food Automation Market Analysis to 2028" is a specialized and in-depth study of the food and beverage industry with a special focus on the global market trend analysis. The report aims to provide an overview of food automation market with detailed market segmentation by type, function, application and geography. The global food automation market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading food automation market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION
The global food automation market is segmented on the basis of type, function and application. Based on type, the market is segmented into motors & generators, motor controls, discrete controller systems & visualization, rotary & linear products and others. On the basis of the function the market is segmented into packaging & re-packaging, palletizing, sorting & grading, picking & placing, processing and other functions. On the basis of the application the market is segmented into dairy, bakery, beverage, confectionery, fruits & vegetables, meat poultry and seafood, and others. REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global food automation market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The food automation market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting food automation market from both demand and supply side and further evaluates market dynamics effecting 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 & Central America after evaluating political, economic, social and technological factors effecting the food automation market in these regions.

World Geography

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MARKET PLAYERS

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global food automation market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The food automation market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting food automation market from both demand and supply side and further evaluates market dynamics effecting 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 & Central America after evaluating political, economic, social and technological factors effecting the food automation market in these regions.

MARKET PLAYERS
The reports cover key developments in the food automation 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 payers from food automation market are anticipated to lucrative growth opportunities in the future with the rising demand for food automation in the global market. Below mentioned is the list of few companies engaged in the food automation market.

The report also includes the profiles of key food automation 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.
  • ABB
  • GEA Group AG,
  • Mitsubishi Electric Corporation
  • Rexnord Industries, LLC
  • Rockwell Automation, Inc.,
  • Schneider Electric SE
  • Siemens AG
  • The Emerson Electric Co
  • The Yaskawa Electric Corporation
  • Yokogawa Electric Corporation
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

  • 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
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

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 Food Automation Market - By Type
1.3.2 Food Automation Market - By Function
1.3.3 Food Automation Market - By Application
1.3.4 Food Automation Market - By Region
1.3.4.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. FOOD AUTOMATION MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS

5. FOOD AUTOMATION 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC

6. FOOD AUTOMATION MARKET - GLOBAL MARKET ANALYSIS
6.1. FOOD AUTOMATION - GLOBAL MARKET OVERVIEW
6.2. FOOD AUTOMATION - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE

7. FOOD AUTOMATION MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. MOTORS AND GENERATORS
7.3.1. Overview
7.3.2. Motors and Generators Market Forecast and Analysis
7.4. MOTOR CONTROLS
7.4.1. Overview
7.4.2. Motor Controls Market Forecast and Analysis
7.5. DISCRETE CONTROLLER SYSTEMS AND VISUALIZATION
7.5.1. Overview
7.5.2. Discrete Controller Systems and Visualization Market Forecast and Analysis
7.6. ROTARY AND LINEAR PRODUCTS
7.6.1. Overview
7.6.2. Rotary and Linear Products Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. FOOD AUTOMATION MARKET - REVENUE AND FORECASTS TO 2028 - FUNCTION
8.1. OVERVIEW
8.2. FUNCTION MARKET FORECASTS AND ANALYSIS
8.3. PACKAGING AND RE-PACKAGING
8.3.1. Overview
8.3.2. Packaging and Re-Packaging Market Forecast and Analysis
8.4. PALLETIZING
8.4.1. Overview
8.4.2. Palletizing Market Forecast and Analysis
8.5. SORTING AND GRADING
8.5.1. Overview
8.5.2. Sorting and Grading Market Forecast and Analysis
8.6. PICKING AND PLACING
8.6.1. Overview
8.6.2. Picking and Placing Market Forecast and Analysis
8.7. PROCESSING
8.7.1. Overview
8.7.2. Processing Market Forecast and Analysis
8.8. OTHER FUNCTIONS
8.8.1. Overview
8.8.2. Other Functions Market Forecast and Analysis
9. FOOD AUTOMATION MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. DAIRY
9.3.1. Overview
9.3.2. Dairy Market Forecast and Analysis
9.4. BAKERY
9.4.1. Overview
9.4.2. Bakery Market Forecast and Analysis
9.5. BEVERAGE
9.5.1. Overview
9.5.2. Beverage Market Forecast and Analysis
9.6. CONFECTIONERY
9.6.1. Overview
9.6.2. Confectionery Market Forecast and Analysis
9.7. FRUITS AND VEGETABLES
9.7.1. Overview
9.7.2. Fruits and Vegetables Market Forecast and Analysis
9.8. MEAT POULTRY AND SEAFOOD
9.8.1. Overview
9.8.2. Meat Poultry and Seafood Market Forecast and Analysis
9.9. OTHERS
9.9.1. Overview
9.9.2. Others Market Forecast and Analysis

10. FOOD AUTOMATION MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Food Automation Market Overview
10.1.2 North America Food Automation Market Forecasts and Analysis
10.1.3 North America Food Automation Market Forecasts and Analysis - By Type
10.1.4 North America Food Automation Market Forecasts and Analysis - By Function
10.1.5 North America Food Automation Market Forecasts and Analysis - By Application
10.1.6 North America Food Automation Market Forecasts and Analysis - By Countries
10.1.6.1 United States Food Automation Market
10.1.6.1.1 United States Food Automation Market by Type
10.1.6.1.2 United States Food Automation Market by Function
10.1.6.1.3 United States Food Automation Market by Application
10.1.6.2 Canada Food Automation Market
10.1.6.2.1 Canada Food Automation Market by Type
10.1.6.2.2 Canada Food Automation Market by Function
10.1.6.2.3 Canada Food Automation Market by Application
10.1.6.3 Mexico Food Automation Market
10.1.6.3.1 Mexico Food Automation Market by Type
10.1.6.3.2 Mexico Food Automation Market by Function
10.1.6.3.3 Mexico Food Automation Market by Application
10.2. EUROPE
10.2.1 Europe Food Automation Market Overview
10.2.2 Europe Food Automation Market Forecasts and Analysis
10.2.3 Europe Food Automation Market Forecasts and Analysis - By Type
10.2.4 Europe Food Automation Market Forecasts and Analysis - By Function
10.2.5 Europe Food Automation Market Forecasts and Analysis - By Application
10.2.6 Europe Food Automation Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Food Automation Market
10.2.6.1.1 Germany Food Automation Market by Type
10.2.6.1.2 Germany Food Automation Market by Function
10.2.6.1.3 Germany Food Automation Market by Application
10.2.6.2 France Food Automation Market
10.2.6.2.1 France Food Automation Market by Type
10.2.6.2.2 France Food Automation Market by Function
10.2.6.2.3 France Food Automation Market by Application
10.2.6.3 Italy Food Automation Market
10.2.6.3.1 Italy Food Automation Market by Type
10.2.6.3.2 Italy Food Automation Market by Function
10.2.6.3.3 Italy Food Automation Market by Application
10.2.6.4 United Kingdom Food Automation Market
10.2.6.4.1 United Kingdom Food Automation Market by Type
10.2.6.4.2 United Kingdom Food Automation Market by Function
10.2.6.4.3 United Kingdom Food Automation Market by Application
10.2.6.5 Russia Food Automation Market
10.2.6.5.1 Russia Food Automation Market by Type
10.2.6.5.2 Russia Food Automation Market by Function
10.2.6.5.3 Russia Food Automation Market by Application
10.2.6.6 Rest of Europe Food Automation Market
10.2.6.6.1 Rest of Europe Food Automation Market by Type
10.2.6.6.2 Rest of Europe Food Automation Market by Function
10.2.6.6.3 Rest of Europe Food Automation Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Food Automation Market Overview
10.3.2 Asia-Pacific Food Automation Market Forecasts and Analysis
10.3.3 Asia-Pacific Food Automation Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Food Automation Market Forecasts and Analysis - By Function
10.3.5 Asia-Pacific Food Automation Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Food Automation Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Food Automation Market
10.3.6.1.1 Australia Food Automation Market by Type
10.3.6.1.2 Australia Food Automation Market by Function
10.3.6.1.3 Australia Food Automation Market by Application
10.3.6.2 China Food Automation Market
10.3.6.2.1 China Food Automation Market by Type
10.3.6.2.2 China Food Automation Market by Function
10.3.6.2.3 China Food Automation Market by Application
10.3.6.3 India Food Automation Market
10.3.6.3.1 India Food Automation Market by Type
10.3.6.3.2 India Food Automation Market by Function
10.3.6.3.3 India Food Automation Market by Application
10.3.6.4 Japan Food Automation Market
10.3.6.4.1 Japan Food Automation Market by Type
10.3.6.4.2 Japan Food Automation Market by Function
10.3.6.4.3 Japan Food Automation Market by Application
10.3.6.5 South Korea Food Automation Market
10.3.6.5.1 South Korea Food Automation Market by Type
10.3.6.5.2 South Korea Food Automation Market by Function
10.3.6.5.3 South Korea Food Automation Market by Application
10.3.6.6 Rest of Asia-Pacific Food Automation Market
10.3.6.6.1 Rest of Asia-Pacific Food Automation Market by Type
10.3.6.6.2 Rest of Asia-Pacific Food Automation Market by Function
10.3.6.6.3 Rest of Asia-Pacific Food Automation Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Food Automation Market Overview
10.4.2 Middle East and Africa Food Automation Market Forecasts and Analysis
10.4.3 Middle East and Africa Food Automation Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Food Automation Market Forecasts and Analysis - By Function
10.4.5 Middle East and Africa Food Automation Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Food Automation Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Food Automation Market
10.4.6.1.1 South Africa Food Automation Market by Type
10.4.6.1.2 South Africa Food Automation Market by Function
10.4.6.1.3 South Africa Food Automation Market by Application
10.4.6.2 Saudi Arabia Food Automation Market
10.4.6.2.1 Saudi Arabia Food Automation Market by Type
10.4.6.2.2 Saudi Arabia Food Automation Market by Function
10.4.6.2.3 Saudi Arabia Food Automation Market by Application
10.4.6.3 U.A.E Food Automation Market
10.4.6.3.1 U.A.E Food Automation Market by Type
10.4.6.3.2 U.A.E Food Automation Market by Function
10.4.6.3.3 U.A.E Food Automation Market by Application
10.4.6.4 Rest of Middle East and Africa Food Automation Market
10.4.6.4.1 Rest of Middle East and Africa Food Automation Market by Type
10.4.6.4.2 Rest of Middle East and Africa Food Automation Market by Function
10.4.6.4.3 Rest of Middle East and Africa Food Automation Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Food Automation Market Overview
10.5.2 South and Central America Food Automation Market Forecasts and Analysis
10.5.3 South and Central America Food Automation Market Forecasts and Analysis - By Type
10.5.4 South and Central America Food Automation Market Forecasts and Analysis - By Function
10.5.5 South and Central America Food Automation Market Forecasts and Analysis - By Application
10.5.6 South and Central America Food Automation Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Food Automation Market
10.5.6.1.1 Brazil Food Automation Market by Type
10.5.6.1.2 Brazil Food Automation Market by Function
10.5.6.1.3 Brazil Food Automation Market by Application
10.5.6.2 Argentina Food Automation Market
10.5.6.2.1 Argentina Food Automation Market by Type
10.5.6.2.2 Argentina Food Automation Market by Function
10.5.6.2.3 Argentina Food Automation Market by Application
10.5.6.3 Rest of South and Central America Food Automation Market
10.5.6.3.1 Rest of South and Central America Food Automation Market by Type
10.5.6.3.2 Rest of South and Central America Food Automation Market by Function
10.5.6.3.3 Rest of South and Central America Food Automation 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. FOOD AUTOMATION MARKET, KEY COMPANY PROFILES
12.1. ABB
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. GEA GROUP AG,
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. MITSUBISHI ELECTRIC CORPORATION
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. REXNORD INDUSTRIES, LLC
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. ROCKWELL AUTOMATION, 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. SCHNEIDER ELECTRIC SE
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. SIEMENS 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. THE EMERSON ELECTRIC CO
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. THE YASKAWA ELECTRIC CORPORATION
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. YOKOGAWA ELECTRIC CORPORATION
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments

13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies

1.ABB
2.GEA Group AG,
3.Mitsubishi Electric Corporation
4.Rexnord Industries, LLC
5.Rockwell Automation, Inc.,
6.Schneider Electric SE
7.Siemens AG
8.The Emerson Electric Co
9.The Yaskawa Electric Corporation
10.Yokogawa Electric Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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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