The machine condition monitoring market in South America is expected to grow from US$ 191.0Million in 2019 to US$ 306.2Million by 2027; it is estimated to grow at a CAGR of 6.1%from 2020 to 2027.
The Brazil and Argentina are major economies in South America. In recent years, several manufacturers across industries in the developing countries are demanding for machine condition monitoring solutions. The rising demand for condition monitoring solution is majorly attributed to the increasing awareness related to the benefits of condition monitoring. The developing countries such as Brazil, and Argentina are experiencing substantial growth in the number of manufacturing plants in various industries. The usage of sizeable reciprocating machinery has been surging over the past few years in the countries mentioned above. The demand for condition monitoring solution is majorly for the newer machinery in the modern manufacturing facilities. The significant rise in industrialization in the developing countries is catalyzing the demand for condition monitoring solutions, thereby throttling the South America machine condition monitoring market size. The key industries demanding condition monitoring solutions include aerospace & defense, automotive, oil & gas, manufacturing, power generation, and food & beverage. These industries utilize higher volumes of rotating machines, which experience considerable vibration, corrosion, temperature difference, and oil seepage, which ultimately cause the system to fail in case the problem prevails for an extended period. With an objective to avoid such downtime and monetary loss, the end users in the developing countries are procuring condition monitoring solutions, which is propelling the machine condition monitoring market.
In South America, Brazil is the worst hit by outbreak of COVID-19, followed by Ecuador, Chile, Peru, and Argentina, among others. The governments across South America are enacting various measures to contain the virus. It is anticipated that South America will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe, and the US, which are important trade partners. Also, in the electric and electronic manufacturing, Brazilian companies imported over 40% of components from Chinese companies. Further, other Asian companies accounted for over 35% of imports in 2019, signifying dependence on Asian economies. Moreover, automotive production in the region has also been impacted as manufacturers are suspending production amid coronavirus outbreak. Containment measures in several countries of South America will reduce economic activity in the manufacturing sectors for at least the next quarter, and is expected to rebound once the pandemic is contained.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the machine condition monitoring market. The South America machine condition monitoring market is expected to grow at a good CAGR during the forecast period.
South America Machine Condition Monitoring Market Revenue and Forecast to 2027 (US$ Mn)
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South America Machine Condition Monitoring Market Segmentation
South America Machine Condition Monitoring Market – By Monitoring Technique
- Vibration Monitoring
- Thermography
- Oil Analysis
- Corrosion Monitoring
- Ultrasound Emission
- Motor Current Analysis
South America Machine Condition Monitoring Market – By Offering
- Hardware
- Software
South America Machine Condition Monitoring Market – By Deployment
- On-premise
- Cloud
South America Machine Condition Monitoring Market – ByMonitoring Process
- Online Condition Monitoring
- Portable Condition Monitoring
South America Machine Condition Monitoring Market – By End-user
- Oil & Gas
- Power Generation
- Automotive
- Aerospace & Defense
- Food & Beverage
- Manufacturing
- Others
South America Machine Condition Monitoring Market – By Country
- Brazil
- Rest of South America
South America Machine Condition Monitoring Market-Companies Mentioned
- Honeywell International Inc.
- Schaeffler Technologies AG & Co. KG
- General Electric Company
- Emerson Electric Co.
- Parker Hannifin Corporation
- Rockwell Automation, Inc.
- SKF
- Wilcoxon Sensing Technologies
- ALS Limited
- National Instruments Corporation
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Monitoring Technique, Offering, Deployment, Monitoring Process, and End-user
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Brazil, Argentina
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. SAM Machine Condition Monitoring Market Landscape
4.1 Market Overview
4.2 SAM – PEST Analysis
4.3 Ecosystem Analysis
5. SAM Machine Condition Monitoring Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rise in adoption of automation solutions among End Users in Developing Countries
5.2 Market Restraints
5.2.1 Cost intensive maintenance of machine monitoring system.
5.3 Market Opportunities
5.3.1 Integration of Wireless Technologies in Manufacturing.
5.4 Future Trends
5.4.1 Wireless Technologies and Sensors to Transform the Dynamics of Market
5.5 Impact Analysis of Drivers and Restraints
6. SAM Machine Condition Monitoring Market – Analysis
6.1 Overview
6.2 SAM Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning –Market Players Ranking
7. Machine Condition Monitoring Market Analysis – By Monitoring Technique
7.1 Overview
7.2 SAM Machine Condition Monitoring Market, By Monitoring Technique (2019 and 2027)
7.3 Vibration Monitoring
7.3.1 Overview
7.3.2 Vibration Monitoring: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Thermography
7.4.1 Thermography: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Oil Analysis
7.5.1 Oil Analysis: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
7.6 Corrosion Monitoring
7.6.1 Corrosion Monitoring: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
7.7 Ultrasound Emission
7.7.1 Ultrasound Emission: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
7.8 Motor Current Analysis
7.8.1 Motor Current Analysis: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8. Machine Condition Monitoring Market Analysis – By Offering
8.1 Overview
8.2 SAM Machine Condition Monitoring Market, By Offering (2019 and 2027)
8.3 Hardware
8.3.1 Overview
8.3.2 Hardware: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.3 Vibration Sensors
8.3.3.1 Vibration Sensors: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.4 Proximity Probes
8.3.4.1 Proximity Probes: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.5 Tachometer
8.3.5.1 Tachometer: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.6 Infrared Sensors
8.3.6.1 Infrared Sensors: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.7 Spectrometer
8.3.7.1 Spectrometer: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.8 Ultrasound Detectors
8.3.8.1 Ultrasound Detectors: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.9 Corrosion Probes
8.3.9.1 Corrosion Probes: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.10 Other
8.3.10.1 Other: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Software
8.4.1 Software: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.4.2 Data Integrator
8.4.3 Diagnosis Reporting
8.4.4 Order Tracking Analysis
8.4.5 Parameter Calculation
9. Machine Condition Monitoring Market Analysis – By Deployment Type
9.1 Overview
9.2 SAM Machine Condition Monitoring Market, By Deployment Type (2019 and 2027)
9.3 Cloud
9.3.1 Overview
9.3.2 Cloud: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
9.4 On-Premise
9.4.1 Overview
9.4.2 On-Premise: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
10. Machine Condition Monitoring Market Analysis – By Monitoring Process
10.1 Overview
10.2 SAM Machine Condition Monitoring Market, By Monitoring Process (2019 and 2027)
10.3 Online Condition Monitoring
10.3.1 Overview
10.3.2 Online Condition Monitoring: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
10.4 Portable Condition Monitoring
10.4.1 Overview
10.4.2 Portable Condition Monitoring: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
11. Machine Condition Monitoring Market Analysis – By End User
11.1 Overview
11.2 SAM Machine Condition Monitoring Market, By End User (2019 and 2027)
11.3 Oil & Gas
11.3.1 Overview
11.3.2 Oil & Gas: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
11.4 Power Generation
11.4.1 Overview
11.4.2 Power Generation: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
11.5 Automotive
11.5.1 Overview
11.5.2 Automotive: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
11.6 Aerospace & Defense
11.6.1 Overview
11.6.2 Aerospace & Defense: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
11.7 Food & Beverage
11.7.1 Overview
11.7.2 Food & Beverage: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
11.8 Manufacturing
11.8.1 Overview
11.8.2 Manufacturing: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
11.9 Other
11.9.1 Overview
11.9.2 Other: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
12. Machine Condition Monitoring Market – Country Analysis
12.1 Overview
12.1.1 SAM: Machine Condition Monitoring Market, By Country
12.1.1.1 Brazil: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
12.1.1.1.1 Brazil: Machine Condition Monitoring Market, by Monitoring Technique
12.1.1.1.2 Brazil: Machine Condition Monitoring Market, by Offering
12.1.1.1.2.1 Brazil: Machine Condition Monitoring Market, by Hardware
12.1.1.1.3 Brazil: Machine Condition Monitoring Market, by Deployment Type
12.1.1.1.4 Brazil: Machine Condition Monitoring Market, by Monitoring Process
12.1.1.1.5 Brazil: Machine Condition Monitoring Market, by End User
12.1.1.2 Rest of SAM: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
12.1.1.2.1 Rest of SAM: Machine Condition Monitoring Market, by Monitoring Technique
12.1.1.2.2 Rest of SAM: Machine Condition Monitoring Market, by Offering
12.1.1.2.2.1 Rest of SAM: Machine Condition Monitoring Market, by Hardware
12.1.1.2.3 Rest of SAM: Machine Condition Monitoring Market, by Deployment Type
12.1.1.2.4 Rest of SAM: Machine Condition Monitoring Market, by Monitoring Process
12.1.1.2.5 Rest of SAM: Machine Condition Monitoring Market, by End-user
13. Impact of Coronavirus Outbreak
13.1.1 SAM: Impact Assessment of COVID-19 Pandemic
14. Industry Landscape
14.1 Overview
14.2 Market Initiative
14.3 New Development
15. Company Profiles
15.1 Honeywell International Inc.
15.1.1 Key Facts
15.1.2 Business Description
15.1.3 Products and Services
15.1.4 Financial Overview
15.1.5 SWOT Analysis
15.1.6 Key Developments
15.2 Schaeffler Technologies AG & Co. KG
15.2.1 Key Facts
15.2.2 Business Description
15.2.3 Products and Services
15.2.4 Financial Overview
15.2.5 SWOT Analysis
15.2.6 Key Developments
15.3 General Electric Company
15.3.1 Key Facts
15.3.2 Business Description
15.3.3 Products and Services
15.3.4 Financial Overview
15.3.5 SWOT Analysis
15.3.6 Key Developments
15.4 Emerson Electric Co.
15.4.1 Key Facts
15.4.2 Business Description
15.4.3 Products and Services
15.4.4 Financial Overview
15.4.5 SWOT Analysis
15.4.6 Key Developments
15.5 Parker Hannifin Corporation
15.5.1 Key Facts
15.5.2 Business Description
15.5.3 Products and Services
15.5.4 Financial Overview
15.5.5 SWOT Analysis
15.5.6 Key Developments
15.6 Rockwell Automation, Inc.
15.6.1 Key Facts
15.6.2 Business Description
15.6.3 Products and Services
15.6.4 Financial Overview
15.6.5 SWOT Analysis
15.6.6 Key Developments
15.7 SKF
15.7.1 Key Facts
15.7.2 Business Description
15.7.3 Products and Services
15.7.4 Financial Overview
15.7.5 SWOT Analysis
15.7.6 Key Developments
15.8 Wilcoxon Sensing Technologies
15.8.1 Key Facts
15.8.2 Business Description
15.8.3 Products and Services
15.8.4 Financial Overview
15.8.5 SWOT Analysis
15.8.6 Key Developments
15.9 ALS Limited
15.9.1 Key Facts
15.9.2 Business Description
15.9.3 Products and Services
15.9.4 Financial Overview
15.9.5 SWOT Analysis
15.9.6 Key Developments
15.10 National Instruments Corporation
15.10.1 Key Facts
15.10.2 Business Description
15.10.3 Products and Services
15.10.4 Financial Overview
15.10.5 SWOT Analysis
15.10.6 Key Developments
16. Appendix
16.1 About The Insight Partners
16.2 Word Index
LIST OF TABLES
Table 1. SAM Machine Condition Monitoring Market – Revenue, and Forecast to 2027 (US$ Million)
Table 2. SAM Machine Condition Monitoring Market, By Country – Revenue and Forecast to 2027 (US$ Million)
Table 3. Brazil Machine Condition Monitoring Market, By Monitoring Technique – Revenue and Forecast to 2027 (US$ Million)
Table 4. Brazil Machine Condition Monitoring Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 5. Brazil Machine Condition Monitoring Market, By Hardware – Revenue and Forecast to 2027 (US$ Million)
Table 6. Brazil Machine Condition Monitoring Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. Brazil Machine Condition Monitoring Market, By Monitoring Process – Revenue and Forecast to 2027 (US$ Million)
Table 8. Brazil Machine Condition Monitoring Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 9. Rest of SAM Machine Condition Monitoring Market, By Monitoring Technique – Revenue and Forecast to 2027 (US$ Million)
Table 10. Rest of SAM Machine Condition Monitoring Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 11. Rest of SAM Machine Condition Monitoring Market, By Hardware – Revenue and Forecast to 2027 (US$ Million)
Table 12. Rest of SAM Machine Condition Monitoring Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 13. Rest of SAM Machine Condition Monitoring Market, By Monitoring Process – Revenue and Forecast to 2027 (US$ Million)
Table 14. Rest of SAM Machine Condition Monitoring Market, By End-user – Revenue and Forecast to 2027 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. SAM Machine Condition Monitoring Market Segmentation
Figure 2. SAM Condition Monitoring Market Overview
Figure 3. SAM Machine Condition Monitoring Market, by Country
Figure 4. SAM Machine Condition Monitoring Market, By Monitoring Technique
Figure 5. SAM Machine Condition Monitoring Market, By Offering
Figure 6. SAM Machine Condition Monitoring Market, By Monitoring Process
Figure 7. SAM Machine Condition Monitoring Market, By End User
Figure 8. SAM Machine Condition Monitoring Market, By Monitoring Process
Figure 9. SAM Machine Condition Monitoring Market, By Deployment
Figure 10. SAM - PEST Analysis
Figure 11. Machine Condition Monitoring Market – Ecosystem Analysis
Figure 12. SAM Machine Condition Monitoring Market: Impact Analysis of Drivers and Restraints
Figure 13. SAM Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. SAM Machine Condition Monitoring Market Revenue Share, by Monitoring Technique (2019 and 2027)
Figure 15. SAM Vibration Monitoring: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. SAM Thermography: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. SAM Oil Analysis: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. SAM Corrosion Monitoring: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. SAM Ultrasound Emission: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. SAM Motor Current Analysis: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. SAM Machine Condition Monitoring Market Revenue Share, by Offering (2019 and 2027)
Figure 22. SAM Hardware: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. SAM Vibration Sensors: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. SAM Proximity Probes: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. SAM Tachometer: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. SAM Infrared Sensors: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. SAM Spectrometer: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. SAM Ultrasound Detectors: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. SAM Corrosion Probes: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 30. SAM Other: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. SAM Software: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 32. SAM Machine Condition Monitoring Market Revenue Share, by Deployment Type (2019 and 2027)
Figure 33. SAM Cloud: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 34. SAM On-Premise: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 35. SAM Machine Condition Monitoring Market Revenue Share, by Monitoring Process (2019 and 2027)
Figure 36. SAM Online Condition Monitoring: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 37. SAM Portable Condition Monitoring: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 38. SAM Machine Condition Monitoring Market Revenue Share, by End User (2019 and 2027)
Figure 39. SAM Oil & Gas: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 40. SAM Power Generation: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 41. SAM Automotive: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
Figure 42. SAM Aerospace & Defense: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
Figure 43. SAM Food & Beverage: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
Figure 44. SAM Manufacturing: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
Figure 45. SAM Other: Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
Figure 46. SAM: Machine Condition Monitoring Market Revenue Share, By Country (2019 and 2027)
Figure 47. Brazil: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 48. Rest of SAM: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 49. Impact of COVID-19 Pandemic in SAM Markets
The List of Companies - South America Machine Condition Monitoring Market
- Honeywell International Inc.
- Schaeffler Technologies AG & Co. KG
- General Electric Company
- Emerson Electric Co.
- Parker Hannifin Corporation
- Rockwell Automation, Inc.
- AB SKF
- Wilcoxon Sensing Technologies
- ALS Limited
- National Instruments Corporation
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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