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

Coverage: Industrial Service Market covers analysis By Type (Engineering and Consulting, Installation and Commissioning, Operational Improvement and Maintenance); Application (Distributed Control System (DCS), Programmable Logic Controller (PLC), Supervisory Control and Data Acquisition (SCADA), Electric Motors and Drives, Valves and Actuators, Human Machine Interface (HMI), Others); Industry (Oil and Gas, Chemicals, Automotive, Pharmaceuticals, Metals and Mining, Energy and Power, Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00015051
  • Category : Technology, Media and Telecommunications
  • Status : Upcoming
  • No. of Pages : 150
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MARKET INTRODUCTION

The Industrial Services are determined as the broader service portfolio that is being recognized by the service solution providers. The growth of industrial service has also progressed the large multinational organizations. Owing to its standardization of quality and price, the demand for improved asset utilization, the industrial services represents a clear competitive advantage for the clients.

MARKET DYNAMICS

The growing necessity for operational excellence and increasing demand for maintenance as a service are some of the major factors driving the growth of the industrial services market. Moreover, the collaboration of industrial services providers with OEMS is anticipated to boost the growth of the industrial services market.

MARKET SCOPE

The "Global Industrial Service Market Analysis to 2028" is a specialized and in-depth study of the industrial service market with a special focus on the global market trend analysis. The report aims to provide an overview of industrial service market with detailed market segmentation by type, application, industry. The global industrial service market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading industrial service market players and offers key trends and opportunities in the industrial service market.

MARKET SEGMENTATION

The global industrial service market is segmented on the basis of type, application, industry. On the basis of type, the market is segmented as engineering and consulting, installation and commissioning, operational improvement and maintenance. On the basis of application, the market is segmented as distributed control system (DCS), programmable logic controller (PLC), supervisory control and data acquisition (SCADA), electric motors and drives, valves and actuators, human machine interface (HMI), others. On the basis of industry, the market is segmented as oil and gas, chemicals, automotive, pharmaceuticals, metals and mining, energy and power, 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 industrial service 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 America. The industrial service 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 industrial service 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 America after evaluating political, economic, social and technological factors effecting the industrial service market in these regions.

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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 industrial service 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 America. The industrial service 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 industrial service 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 America after evaluating political, economic, social and technological factors effecting the industrial service market in these regions.

MARKET PLAYERS

The reports cover key developments in the industrial service 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 industrial service market are anticipated to lucrative growth opportunities in the future with the rising demand for industrial service market. Below mentioned is the list of few companies engaged in the industrial service market.

The report also includes the profiles of key industrial service 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.

  •   ABB
  •   Emerson Electric
  •   General Electric
  •   Honeywell International Inc.
  •   Metso Corporation
  •   Rockwell Automation
  •   Schneider Electric
  •   Siemens AG
  •   SKF AB
  •   Wood Group Mustang

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
1.3.1Industrial Service Market - By Type
1.3.2Industrial Service Market - By Application
1.3.3Industrial Service Market - By Industry
1.3.4Industrial Service Market - By Region
1.3.4.1By Country

2.KEY TAKEAWAYS

3.RESEARCH METHODOLOGY

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

5.INDUSTRIAL SERVICE 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.INDUSTRIAL SERVICE MARKET - GLOBAL MARKET ANALYSIS
6.1.INDUSTRIAL SERVICE - GLOBAL MARKET OVERVIEW
6.2.INDUSTRIAL SERVICE - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE

7.INDUSTRIAL SERVICE MARKET - REVENUE AND FORECASTS TO 2028 â" TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS AND ANALYSIS
7.3.ENGINEERING AND CONSULTING
7.3.1.Overview
7.3.2.Engineering and Consulting Market Forecast and Analysis
7.4.INSTALLATION AND COMMISSIONING
7.4.1.Overview
7.4.2.Installation and Commissioning Market Forecast and Analysis
7.5.OPERATIONAL IMPROVEMENT AND MAINTENANCE
7.5.1.Overview
7.5.2.Operational Improvement and Maintenance Market Forecast and Analysis
8.INDUSTRIAL SERVICE MARKET - REVENUE AND FORECASTS TO 2028 â" APPLICATION
8.1.OVERVIEW
8.2.APPLICATION MARKET FORECASTS AND ANALYSIS
8.3.DISTRIBUTED CONTROL SYSTEM (DCS)
8.3.1.Overview
8.3.2.Distributed Control System (DCS) Market Forecast and Analysis
8.4.PROGRAMMABLE LOGIC CONTROLLER (PLC)
8.4.1.Overview
8.4.2.Programmable Logic Controller (PLC) Market Forecast and Analysis
8.5.SUPERVISORY CONTROL AND DATA ACQUISITION (SCADA)
8.5.1.Overview
8.5.2.Supervisory Control and Data Acquisition (SCADA) Market Forecast and Analysis
8.6.ELECTRIC MOTORS AND DRIVES
8.6.1.Overview
8.6.2.Electric Motors and Drives Market Forecast and Analysis
8.7.VALVES AND ACTUATORS
8.7.1.Overview
8.7.2.Valves and Actuators Market Forecast and Analysis
8.8.HUMAN MACHINE INTERFACE (HMI)
8.8.1.Overview
8.8.2.Human Machine Interface (HMI) Market Forecast and Analysis
8.9.OTHERS
8.9.1.Overview
8.9.2.Others Market Forecast and Analysis
9.INDUSTRIAL SERVICE MARKET - REVENUE AND FORECASTS TO 2028 â" INDUSTRY
9.1.OVERVIEW
9.2.INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3.OIL AND GAS
9.3.1.Overview
9.3.2.Oil and Gas Market Forecast and Analysis
9.4.CHEMICALS
9.4.1.Overview
9.4.2.Chemicals Market Forecast and Analysis
9.5.AUTOMOTIVE
9.5.1.Overview
9.5.2.Automotive Market Forecast and Analysis
9.6.PHARMACEUTICALS
9.6.1.Overview
9.6.2.Pharmaceuticals Market Forecast and Analysis
9.7.METALS AND MINING
9.7.1.Overview
9.7.2.Metals and Mining Market Forecast and Analysis
9.8.ENERGY AND POWER
9.8.1.Overview
9.8.2.Energy and Power Market Forecast and Analysis
9.9.OTHERS
9.9.1.Overview
9.9.2.Others Market Forecast and Analysis

10.INDUSTRIAL SERVICE MARKET REVENUE AND FORECASTS TO 2028 â" GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Industrial Service Market Overview
10.1.2North America Industrial Service Market Forecasts and Analysis
10.1.3North America Industrial Service Market Forecasts and Analysis - By Type
10.1.4North America Industrial Service Market Forecasts and Analysis - By Application
10.1.5North America Industrial Service Market Forecasts and Analysis - By Industry
10.1.6North America Industrial Service Market Forecasts and Analysis - By Countries
10.1.6.1United States Industrial Service Market
10.1.6.1.1United States Industrial Service Market by Type
10.1.6.1.2United States Industrial Service Market by Application
10.1.6.1.3United States Industrial Service Market by Industry
10.1.6.2Canada Industrial Service Market
10.1.6.2.1Canada Industrial Service Market by Type
10.1.6.2.2Canada Industrial Service Market by Application
10.1.6.2.3Canada Industrial Service Market by Industry
10.1.6.3Mexico Industrial Service Market
10.1.6.3.1Mexico Industrial Service Market by Type
10.1.6.3.2Mexico Industrial Service Market by Application
10.1.6.3.3Mexico Industrial Service Market by Industry
10.2.EUROPE
10.2.1Europe Industrial Service Market Overview
10.2.2Europe Industrial Service Market Forecasts and Analysis
10.2.3Europe Industrial Service Market Forecasts and Analysis - By Type
10.2.4Europe Industrial Service Market Forecasts and Analysis - By Application
10.2.5Europe Industrial Service Market Forecasts and Analysis - By Industry
10.2.6Europe Industrial Service Market Forecasts and Analysis - By Countries
10.2.6.1Germany Industrial Service Market
10.2.6.1.1Germany Industrial Service Market by Type
10.2.6.1.2Germany Industrial Service Market by Application
10.2.6.1.3Germany Industrial Service Market by Industry
10.2.6.2France Industrial Service Market
10.2.6.2.1France Industrial Service Market by Type
10.2.6.2.2France Industrial Service Market by Application
10.2.6.2.3France Industrial Service Market by Industry
10.2.6.3Italy Industrial Service Market
10.2.6.3.1Italy Industrial Service Market by Type
10.2.6.3.2Italy Industrial Service Market by Application
10.2.6.3.3Italy Industrial Service Market by Industry
10.2.6.4United Kingdom Industrial Service Market
10.2.6.4.1United Kingdom Industrial Service Market by Type
10.2.6.4.2United Kingdom Industrial Service Market by Application
10.2.6.4.3United Kingdom Industrial Service Market by Industry
10.2.6.5Russia Industrial Service Market
10.2.6.5.1Russia Industrial Service Market by Type
10.2.6.5.2Russia Industrial Service Market by Application
10.2.6.5.3Russia Industrial Service Market by Industry
10.2.6.6Rest of Europe Industrial Service Market
10.2.6.6.1Rest of Europe Industrial Service Market by Type
10.2.6.6.2Rest of Europe Industrial Service Market by Application
10.2.6.6.3Rest of Europe Industrial Service Market by Industry
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Industrial Service Market Overview
10.3.2Asia-Pacific Industrial Service Market Forecasts and Analysis
10.3.3Asia-Pacific Industrial Service Market Forecasts and Analysis - By Type
10.3.4Asia-Pacific Industrial Service Market Forecasts and Analysis - By Application
10.3.5Asia-Pacific Industrial Service Market Forecasts and Analysis - By Industry
10.3.6Asia-Pacific Industrial Service Market Forecasts and Analysis - By Countries
10.3.6.1Australia Industrial Service Market
10.3.6.1.1Australia Industrial Service Market by Type
10.3.6.1.2Australia Industrial Service Market by Application
10.3.6.1.3Australia Industrial Service Market by Industry
10.3.6.2China Industrial Service Market
10.3.6.2.1China Industrial Service Market by Type
10.3.6.2.2China Industrial Service Market by Application
10.3.6.2.3China Industrial Service Market by Industry
10.3.6.3India Industrial Service Market
10.3.6.3.1India Industrial Service Market by Type
10.3.6.3.2India Industrial Service Market by Application
10.3.6.3.3India Industrial Service Market by Industry
10.3.6.4Japan Industrial Service Market
10.3.6.4.1Japan Industrial Service Market by Type
10.3.6.4.2Japan Industrial Service Market by Application
10.3.6.4.3Japan Industrial Service Market by Industry
10.3.6.5South Korea Industrial Service Market
10.3.6.5.1South Korea Industrial Service Market by Type
10.3.6.5.2South Korea Industrial Service Market by Application
10.3.6.5.3South Korea Industrial Service Market by Industry
10.3.6.6Rest of Asia-Pacific Industrial Service Market
10.3.6.6.1Rest of Asia-Pacific Industrial Service Market by Type
10.3.6.6.2Rest of Asia-Pacific Industrial Service Market by Application
10.3.6.6.3Rest of Asia-Pacific Industrial Service Market by Industry
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Industrial Service Market Overview
10.4.2Middle East and Africa Industrial Service Market Forecasts and Analysis
10.4.3Middle East and Africa Industrial Service Market Forecasts and Analysis - By Type
10.4.4Middle East and Africa Industrial Service Market Forecasts and Analysis - By Application
10.4.5Middle East and Africa Industrial Service Market Forecasts and Analysis - By Industry
10.4.6Middle East and Africa Industrial Service Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Industrial Service Market
10.4.6.1.1South Africa Industrial Service Market by Type
10.4.6.1.2South Africa Industrial Service Market by Application
10.4.6.1.3South Africa Industrial Service Market by Industry
10.4.6.2Saudi Arabia Industrial Service Market
10.4.6.2.1Saudi Arabia Industrial Service Market by Type
10.4.6.2.2Saudi Arabia Industrial Service Market by Application
10.4.6.2.3Saudi Arabia Industrial Service Market by Industry
10.4.6.3U.A.E Industrial Service Market
10.4.6.3.1U.A.E Industrial Service Market by Type
10.4.6.3.2U.A.E Industrial Service Market by Application
10.4.6.3.3U.A.E Industrial Service Market by Industry
10.4.6.4Rest of Middle East and Africa Industrial Service Market
10.4.6.4.1Rest of Middle East and Africa Industrial Service Market by Type
10.4.6.4.2Rest of Middle East and Africa Industrial Service Market by Application
10.4.6.4.3Rest of Middle East and Africa Industrial Service Market by Industry
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Industrial Service Market Overview
10.5.2South and Central America Industrial Service Market Forecasts and Analysis
10.5.3South and Central America Industrial Service Market Forecasts and Analysis - By Type
10.5.4South and Central America Industrial Service Market Forecasts and Analysis - By Application
10.5.5South and Central America Industrial Service Market Forecasts and Analysis - By Industry
10.5.6South and Central America Industrial Service Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Industrial Service Market
10.5.6.1.1Brazil Industrial Service Market by Type
10.5.6.1.2Brazil Industrial Service Market by Application
10.5.6.1.3Brazil Industrial Service Market by Industry
10.5.6.2Argentina Industrial Service Market
10.5.6.2.1Argentina Industrial Service Market by Type
10.5.6.2.2Argentina Industrial Service Market by Application
10.5.6.2.3Argentina Industrial Service Market by Industry
10.5.6.3Rest of South and Central America Industrial Service Market
10.5.6.3.1Rest of South and Central America Industrial Service Market by Type
10.5.6.3.2Rest of South and Central America Industrial Service Market by Application
10.5.6.3.3Rest of South and Central America Industrial Service Market by Industry

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.INDUSTRIAL SERVICE 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.EMERSON ELECTRIC
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.GENERAL ELECTRIC
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.HONEYWELL INTERNATIONAL 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.METSO CORPORATION
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.ROCKWELL AUTOMATION
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.SCHNEIDER ELECTRIC
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.SIEMENS AG
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.SKF AB
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.WOOD GROUP MUSTANG
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. Emerson Electric
3. General Electric
4. Honeywell International Inc.
5. Metso Corporation
6. Rockwell Automation
7. Schneider Electric
8. Siemens AG
9. SKF AB
10. Wood Group Mustang

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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