The public safety LTE market is projected to reach US$ 26.85 billion by 2028; it is estimated to grow at a compound annual growth rate of 21.5% from 2022 to 2028.
A rise in terrorism, an increased focus on public safety, and the need for having reliable networks during emergencies are the factors contributing to the public safety LTE market growth. However, high implementation costs, restricted data transit capabilities, and limited spectrum bandwidth hinder the market growth. Government investments in mission-critical communication systems in the defense sector, on the other hand, are providing significant opportunities for the future of the public safety LTE market growth.
MARKET DYNAMICS
Citizens expect 24×7 service and communications from government agencies. They also seek easy access to correct, up-to-date information and a smooth connection with the apt government officials. Moreover, people want swift, effective, and transparent delivery of services, followed by quick, effective, and transparent resolution of problems. Many government agencies still rely on outdated communications infrastructures, such as leased PBX systems or Centrex-type systems; these systems do not match today's high standards as they are rigid, difficult to manage, and expensive to maintain, leading to slower response times and decreased production. Providing accurate information about government priorities, programs, and actions to citizens helps governments establish legitimacy. Governments are developing and maintaining excellent communication systems to be respectable players in the public sphere. These factors enable them to assess residents' needs and preferences and promote a deliberative public arena for multi-stakeholder involvement, informed policy debate, and emergency development efficacy, which eventually boosts the public safety LTE market growth.
MARKET SCOPE
The "Global Public Safety LTE Market Analysis to 2028" is a specialized and in-depth study with a special focus on market trend analysis. The report aims to provide an overview of the public safety LTE market with detailed market segmentation based on infrastructure, management & integration solution, device, subscription, and application. The public safety LTE market report provides key statistics of the market based on the revenue performances of major market players and explains key market trends and opportunities.
Strategic Insights
MARKET SEGMENTATION
The public safety LTE market is segmented on the basis of infrastructure, management & integration solution, device, subscription, and application. In terms of infrastructure, the market is segmented in radio access networks, evolved packet core & policy, and mobile backhaul & transport. Based on management & integration solution, the public safety LTE market is segmented into network integration & testing, device management & user services, managed services, operations & maintenance, and cybersecurity. Further, in terms of devices, the market is segmented into smartphones & hand portable terminals, vehicle mount routers & terminals, tablets & notebook PCs, USB dongles, and others. Based on subscription, the market is bifurcated into private LTE and commercial LTE. Based on application, the public safety LTE market is segmented into video applications, GIS, AVLS & mapping, mobile VPN access & security, CAD, remote database access, telemetry & remote diagnostics, bulk multimedia/data transfers, PTT & voice over LTE, and situational awareness.
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global public safety LTE market based on various segments. It also provides market size and forecast estimates from 2020 to 2028 with respect to five major regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America. The market in each region is further segmented into respective countries and segments. The report covers an analysis and forecast of 18 countries, along with current trends and opportunities prevailing in the region.
North America is expected to hold the largest share of the public safety LTE market during the forecast period. The market in this region is subsegmented into the US, Canada, and Mexico. North America is the most technologically advanced region owing to factors such as high GPD and high GDP per capita, the positive outlook for the adoption of advanced technologies, an elevated standard of living, favorable economic policies in effect, etc. The region is known to have a high emphasis on public safety as the regional and national governments spend significant amounts on public safety. For instance, in 2020, New York Police Department, Los Angeles Police Department, Chicago Police Department, Philadelphia Police Department, and Toronto Police allocated budgets of US$ 5.92 billion, US$ 1.86 billion, US$ 1.76 billion, US$ 4.9 billion, US$ 1.22 billion, respectively, for the procurement of advanced technologies, including mission-critical communications and connected devices.
The below figure showcases the revenue growth trend in the global public safety LTE market:
Source: The Insight Partners Analysis
The report analyzes factors affecting the public safety LTE market from the demand and supply sides. Further, it evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends, influencing the market progress. The report also provides an exhaustive Porter's Five Forces analysis of the market.
IMPACT OF COVID-19 PANDEMIC
The COVID-19 pandemic had adverse effects on manufacturing businesses in North America in four critical areas: supply chain/operations, workforce, 2020 investments, and product offering. In the first nine months, overhead costs including expenses for sales, research & development (R&D), and administration of various providers fell adversely due to severe measures taken to control the disease spread. The COVID-19 pandemic significantly affected the mission-critical communication industry in North America, resulting in substantial financial losses for end-use industries, pushing them to postpone their public safety LTE implementation plans even more. The crisis also impacted operations at key public safety LTE hardware manufacturing sites, requiring a brief halt. As a result, several significant component suppliers and technology providers had to cut costs and output. As the demand for electronics remained constant, it helped the market to resume growth. Such increasing adoption of 5G smartphones is likely to favor the revival of the public safety LTW market after the pandemic subsides.
Post lockdown, the public safety LTE market witnessed increasing demand for digital devices. North America is among the eminent regions in adopting smart or IoT-based devices due to advanced infrastructure that supports high-speed internet services. The adoption of the 5G network has driven the market growth post-lockdown.
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The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global public safety LTE market based on various segments. It also provides market size and forecast estimates from 2020 to 2028 with respect to five major regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America. The market in each region is further segmented into respective countries and segments. The report covers an analysis and forecast of 18 countries, along with current trends and opportunities prevailing in the region.
North America is expected to hold the largest share of the public safety LTE market during the forecast period. The market in this region is subsegmented into the US, Canada, and Mexico. North America is the most technologically advanced region owing to factors such as high GPD and high GDP per capita, the positive outlook for the adoption of advanced technologies, an elevated standard of living, favorable economic policies in effect, etc. The region is known to have a high emphasis on public safety as the regional and national governments spend significant amounts on public safety. For instance, in 2020, New York Police Department, Los Angeles Police Department, Chicago Police Department, Philadelphia Police Department, and Toronto Police allocated budgets of US$ 5.92 billion, US$ 1.86 billion, US$ 1.76 billion, US$ 4.9 billion, US$ 1.22 billion, respectively, for the procurement of advanced technologies, including mission-critical communications and connected devices.
The below figure showcases the revenue growth trend in the global public safety LTE market:
Source: The Insight Partners Analysis
The report analyzes factors affecting the public safety LTE market from the demand and supply sides. Further, it evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends, influencing the market progress. The report also provides an exhaustive Porter's Five Forces analysis of the market.
IMPACT OF COVID-19 PANDEMIC
The COVID-19 pandemic had adverse effects on manufacturing businesses in North America in four critical areas: supply chain/operations, workforce, 2020 investments, and product offering. In the first nine months, overhead costs including expenses for sales, research & development (R&D), and administration of various providers fell adversely due to severe measures taken to control the disease spread. The COVID-19 pandemic significantly affected the mission-critical communication industry in North America, resulting in substantial financial losses for end-use industries, pushing them to postpone their public safety LTE implementation plans even more. The crisis also impacted operations at key public safety LTE hardware manufacturing sites, requiring a brief halt. As a result, several significant component suppliers and technology providers had to cut costs and output. As the demand for electronics remained constant, it helped the market to resume growth. Such increasing adoption of 5G smartphones is likely to favor the revival of the public safety LTW market after the pandemic subsides.
Post lockdown, the public safety LTE market witnessed increasing demand for digital devices. North America is among the eminent regions in adopting smart or IoT-based devices due to advanced infrastructure that supports high-speed internet services. The adoption of the 5G network has driven the market growth post-lockdown.
MARKET PLAYERS
The reports highlight key organic and inorganic growth strategies in the public safety LTE market. Organic growth strategies adopted by market players include product launches, product approvals, and patents and events. Further, the inorganic growth strategies witnessed in the market include acquisitions, partnerships, and collaborations. These activities have paved the way for the expansion of businesses and customer bases of market players.
The report also includes the profiles of key companies in the public safety LTE market, focusing on their SWOT analysis and market strategies. The company profile section focuses on leading industry players with information such as components and services offered, financial information for the last 3 years, and key development in the past 5 years. The list of a few companies engaged in the public safety LTE market is given below:
The report on the public safety LTE market presents the profiles of key companies in this market
- Amdocs
- Apple Inc.
- Alcatel-Lucent SA
- AT&T Inc.
- Broadcom Ltd.
- Cisco Systems Inc.
- Dell Inc.
- Eden Rock Communications
- Ericsson
- Fujitsu Ltd
The dedicated research and analysis team at The Insight Partner consists of experienced professionals with advanced statistical expertise. The team also offers various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Infrastructure, Management & Integration Solution, Device, Subscription, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
1 Introduction
1.1 Scope of Study
1.2 The Insight Partners Research Report Guidance
2 Key Takeaways
3 Public Safety LTE Market Landscape
3.1 Market Overview
3.2 Market Segmentation
3.2.1 Public Safety LTE Market - By Infrastructure
3.2.2 Public Safety LTE Market - By Management & Integration Solutions
3.2.3 Public Safety LTE Market - By Devices
3.2.4 Public Safety LTE Market - By Subscription
3.2.5 Public Safety LTE Market - By Application
3.2.6 Public Safety LTE Market - By Region
3.2.6.1 By Countries
3.3 PEST Analysis
3.3.1 North America - PEST Analysis
3.3.2 Europe - PEST Analysis
3.3.3 Asia Pacific - PEST Analysis
3.3.4 Middle East and Africa - PEST Analysis
3.3.5 South America - PEST Analysis
4 Public Safety LTE Market - Key Industry Dynamics
4.1 Key Market Drivers
4.2 Key Market Restraints
4.3 Key Market Opportunities
4.4 Future Trends
4.5 Impact Analysis
5 Public Safety LTE Market Analysis- Global
5.1 Global Public Safety LTE Market Overview
5.2 Global Public Safety LTE Market Forecasts and Analysis
6 Public Safety LTE Market Revenue and Forecasts to 2028 - Infrastructure
6.1 Overview
6.2 Infrastructure Market Forecasts and Analysis
6.3 Radio Access Network Market
6.3.1 Overview
6.3.2 Radio Access Network Market Forecasts and Analysis
6.4 Evolved Packet Core & Policy Market
6.4.1 Overview
6.4.2 Evolved Packet Core & Policy Market Forecasts and Analysis
6.5 Mobile Backhaul & Transport Market
6.5.1 Overview
6.5.2 Mobile Backhaul & Transport Market Forecasts and Analysis
7 Public Safety LTE Market Revenue and Forecasts to 2028 - Management & Integration Solutions
7.1 Overview
7.2 Management & Integration Solutions Market Forecasts and Analysis
7.3 Network Integration & Testing Market
7.3.1 Overview
7.3.2 Network Integration & Testing Market Forecasts and Analysis
7.4 Device Management & User Services Market
7.4.1 Overview
7.4.2 Device Management & User Services Market Forecasts and Analysis
7.5 Managed Services, Operations & Maintenance Market
7.5.1 Overview
7.5.2 Managed Services, Operations & Maintenance Market Forecasts and Analysis
7.6 Cybersecurity Market
7.6.1 Overview
7.6.2 Cybersecurity Market Forecasts and Analysis
8 Public Safety LTE Market Revenue and Forecasts to 2028 - Devices
8.1 Overview
8.2 Devices Market Forecasts and Analysis
8.3 Smartphones & Handportable Terminals Market
8.3.1 Overview
8.3.2 Smartphones & Handportable Terminals Market Forecasts and Analysis
8.4 Vehicle Mount Routers & Terminals Market
8.4.1 Overview
8.4.2 Vehicle Mount Routers & Terminals Market Forecasts and Analysis
8.5 Tablets & Notebook PCs Market
8.5.1 Overview
8.5.2 Tablets & Notebook PCs Market Forecasts and Analysis
8.6 USB Dongles Market
8.6.1 Overview
8.6.2 USB Dongles Market Forecasts and Analysis
8.7 Others Market
8.7.1 Overview
8.7.2 Others Market Forecasts and Analysis
9 Public Safety LTE Market Revenue and Forecasts to 2028 - Subscription
9.1 Overview
9.2 Subscription Market Forecasts and Analysis
9.3 Private LTE Market
9.3.1 Overview
9.3.2 Private LTE Market Forecasts and Analysis
9.4 Commercial LTE Market
9.4.1 Overview
9.4.2 Commercial LTE Market Forecasts and Analysis
10 Public Safety LTE Market Revenue and Forecasts to 2028 - Applications
10.1 Overview
10.2 Applications Market Forecasts and Analysis
10.3 Video Applications Market
10.3.1 Overview
10.3.2 Video Applications Market Forecasts and Analysis
10.4 GIS, AVLS & Mapping Market
10.4.1 Overview
10.4.2 GIS, AVLS & Mapping Market Forecasts and Analysis
10.5 Mobile VPN Access & Security Market
10.5.1 Overview
10.5.2 Mobile VPN Access & Security Market Forecasts and Analysis
10.6 CAD Market
10.6.1 Overview
10.6.2 CAD Market Forecasts and Analysis
10.7 Remote Database Access Market
10.7.1 Overview
10.7.2 Remote Database Access Market Forecasts and Analysis
10.8 Telemetry & Remote Diagnostics Market
10.8.1 Overview
10.8.2 Telemetry & Remote Diagnostics Market Forecasts and Analysis
10.9 Bulk Multimedia/Data Transfers Market
10.9.1 Overview
10.9.2 Bulk Multimedia/Data Transfers Market Forecasts and Analysis
10.10 PTT & Voice over LTE
10.10.1 Overview
10.10.2 PTT & Voice over LTE Market Forecasts and Analysis
10.11 Situational Awareness Applications
10.11.1 Overview
10.11.2 Situational Awareness Applications Market Forecasts and Analysis
11 Public Safety LTE Market Revenue and Forecasts to 2028 - Geographical Analysis
11.1 North America
11.1.1 North America Public Safety LTE Market Overview
11.1.2 North America Public Safety LTE Market Forecasts and Analysis
11.1.2.1 North America Market Forecasts and Analysis - By Countries
11.1.2.1.1 US market
11.1.2.1.2 Canada market
11.1.2.1.3 Mexico market
11.1.2.2 North America Market Forecasts and Analysis - By Infrastructure
11.1.2.3 North America Market Forecasts and Analysis - By Management & Integration Solutions
11.1.2.4 North America Market Forecasts and Analysis - By Devices
11.1.2.5 North America Market Forecasts and Analysis - By Subscription
11.1.2.6 North America Market Forecasts and Analysis - By Applications
11.2 Europe
11.2.1 Europe Public Safety LTE Market Overview
11.2.2 Europe Public Safety LTE Market Forecasts and Analysis
11.2.2.1 Europe Market Forecasts and Analysis - By Countries
11.2.2.1.1 France market
11.2.2.1.2 Germany market
11.2.2.1.3 Italy market
11.2.2.1.4 Spain market
11.2.2.1.5 UK market
11.2.2.2 Europe Market Forecasts and Analysis - By Infrastructure
11.2.2.3 Europe Market Forecasts and Analysis - By Management & Integration Solutions
11.2.2.4 Europe Market Forecasts and Analysis - By Devices
11.2.2.5 Europe Market Forecasts and Analysis - By Subscription
11.2.2.6 Europe Market Forecasts and Analysis - By Applications
11.3 Asia pacific (APAC)
11.3.1 Asia Pacific Public Safety LTE Market Overview
11.3.2 Asia Pacific Public Safety LTE Market Forecasts and Analysis
11.3.2.1 Asia Pacific Market Forecasts and Analysis - By Countries
11.3.2.1.1 Australia market
11.3.2.1.2 China market
11.3.2.1.3 India market
11.3.2.1.4 Japan market
11.3.2.2 Asia Pacific Market Forecasts and Analysis - By Infrastructure
11.3.2.3 Asia Pacific Market Forecasts and Analysis - By Management & Integration Solutions
11.3.2.4 Asia Pacific Market Forecasts and Analysis - By Devices
11.3.2.5 Asia Pacific Market Forecasts and Analysis - By Subscription
11.3.2.6 Asia Pacific Market Forecasts and Analysis - By Applications
11.4 Middle East and Africa (MEA)
11.4.1 Middle East and Africa Public Safety LTE Market Overview
11.4.2 Middle East and Africa Public Safety LTE Market Forecasts and Analysis
11.4.2.1 Middle East and Africa Market Forecasts and Analysis - By Countries
11.4.2.1.1 South Africa market
11.4.2.1.2 Saudi Arabia market
11.4.2.1.3 UAE market
11.4.2.2 Middle East and Africa Market Forecasts and Analysis - By Infrastructure
11.4.2.3 Middle East and Africa Market Forecasts and Analysis - By Management & Integration Solutions
11.4.2.4 Middle East and Africa Market Forecasts and Analysis - By Devices
11.4.2.5 Middle East and Africa Market Forecasts and Analysis - By Subscription
11.4.2.6 Middle East and Africa Market Forecasts and Analysis - By Application
11.5 South America (SAM)
11.5.1 South America Public Safety LTE Market Overview
11.5.2 South America Public Safety LTE Market Forecasts and Analysis
11.5.2.1 South America Market Forecasts and Analysis - By Countries
11.5.2.1.1 Brazil market
11.5.2.2 South America Market Forecasts and Analysis - By Infrastructure
11.5.2.3 South America Market Forecasts and Analysis - By Management & Integration Solutions
11.5.2.4 South America Market Forecasts and Analysis - By Devices
11.5.2.5 South America Market Forecasts and Analysis - By Subscription
11.5.2.6 South America Market Forecasts and Analysis - By Application
12 Industry Landscape
12.1 Mergers & acquisitions
12.2 Market Initiatives
12.3 New developments
12.4 Investment scenarios
13 Competitive Landscape
13.1 Competitive Product mapping
13.2 Market Positioning/ Market Share
14 Public Safety LTE Market, Key Company Profiles
14.1 Amdocs
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Apple, Inc.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Alcatel-Lucent SA
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 AT&T Inc.
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Broadcom Ltd.
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Cisco Systems, Inc.
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Dell, Inc.
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Eden Rock Communications
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Ericsson
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Fujitsu Ltd.
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15 Appendix
15.1 About The Insight Partners
15.2 Glossary of Terms
15.3 Research Methodology
The List of Companies
1. Amdocs
2. Apple Inc.
3. Alcatel-Lucent SA
4. AT&T Inc.
5. Broadcom Ltd.
6. Cisco Systems Inc.
7. Dell Inc.
8. Eden Rock Communications
9. Ericsson
10. Fujitsu Ltd.
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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