Apf Active Power Filter For Electric Car Chargers Market
APF Active Power Filter for Electric Car Chargers Market Forecasts to 2030 - Global Analysis By Type (Shunt Active Power Filter, Hybrid Active Power Filters and Series Active Power Filter), Component (Hardware and Software), Sales Channel, Application and By Geography.
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $1.06 BN |
|
Projected Year Value (2030) |
US $1.40 BN |
|
CAGR (2023 - 2030) |
4.1% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global APF Active Power Filter for Electric Car Chargers Market is accounted for $1.06 billion in 2023 and is expected to reach $1.40 billion by 2030 growing at a CAGR of 4.1% during the forecast period. An Active Power Filter (APF) for Electric Car Chargers is a device used to improve the power quality and reduce harmonics in electrical systems associated with electric vehicle (EV) charging. It actively monitors the electrical currents and voltages, identifies any distortions or harmonics in the power waveform, and compensates for these disturbances to maintain a clean and efficient power supply.
According to the International Energy Agency 2021, global electric vehicle sales doubled in the year 2021 compared to 2020. In 2021, nearly 10% of the total cars sold worldwide were electric, reaching a new record of 6.6 million units.
Market Dynamics:
Driver:
Increasing adoption of electric vehicles
The increasing adoption of electric vehicles worldwide is a significant driver for the market for active power filters (APFs) in electric car chargers. As the demand for EVs rises due to environmental concerns and government incentives, the strain on power grids also escalates. APFs address this challenge by mitigating harmonics, enhancing power quality, and improving the efficiency of charging processes. They ensure a stable and clean power supply to EV chargers, supporting the exponential growth in EV adoption and promoting sustainable transportation. APFs play a crucial role in establishing a reliable and efficient charging infrastructure, essential for the accelerating transition towards electric mobility. Thus, there is an increasing demand for market growth.
Restraint:
High cost and limited awareness
The restraint of cost and affordability significantly impacts the APF active power filter market for electric car chargers. The initial investment for integrating APFs into charging infrastructure involves the cost of the APF device itself, installation, necessary hardware, and ongoing maintenance. These expenses can be substantial, especially for smaller-scale charging stations, operators, or organisations with limited financial resources. In addition, many stakeholders, including charging station operators, utility companies, and even consumers, may have limited knowledge about the role and benefits of APFs in enhancing power quality during electric vehicle charging.
Opportunity:
Technological advancements
The continuous evolution of APF technology leads to more efficient and sophisticated solutions. Advanced APFs now incorporate real-time monitoring, adaptive control algorithms, and digital signal processing, enabling precise harmonic detection and compensation. These technologies optimise power factor correction, reduce distortions, and enhance power quality during EV charging. Additionally, advancements in semiconductor devices, such as insulated gate bipolar transistors (IGBTs), enable higher switching frequencies and lower losses, improving the overall efficiency of APFs. Furthermore, the integration of smart grid capabilities and communication protocols allows for remote monitoring, control, and predictive maintenance, enhancing the reliability and effectiveness of APFs in the rapidly evolving electric car charger market. Thus, there is growing demand for market expansion.
Threat:
Environmental concerns
Environmental concerns regarding active power filters (APFs) in the electric car charger market relate to the potential ecological footprint associated with manufacturing, operation, and disposal. The production of APFs involves resource consumption and emissions, contributing to environmental impact. Additionally, improper disposal at the end of an APF's lifecycle can introduce harmful substances into the environment. As sustainability becomes a global focus, these concerns pose a threat to APFs' market adoption. Hence, it is a significant barrier to market demand.
Covid-19 Impact
The COVID-19 pandemic has impacted the market in multiple ways. The crisis disrupted supply chains, causing delays in production and deployment of APFs. Economic uncertainties and reduced consumer spending affected the purchase and installation of electric vehicle infrastructure, slowing down APF adoption. Travel restrictions and lockdowns decreased the utilization of electric vehicles, temporarily lowering the demand for charging solutions. Additionally, budget reallocations and financial strains on businesses during the pandemic led to deferred investments in upgrading charging infrastructures with APFs. However, as the world moves towards recovery and prioritizes sustainable transportation, there is an opportunity for APFs to play a crucial role in enhancing charging efficiency, power quality, and harmonics management, aligning with the evolving emphasis on sustainable and resilient energy solutions.
The DC Electric Car Chargers segment is expected to be the largest during the forecast period
The DC Electric Car Chargers segment is estimated to hold the largest share. The DC electric car charger market holds promise for active power filters (APFs). As DC fast chargers become more prevalent due to their rapid charging capabilities, the need to address power quality issues intensifies. APFs offer a viable solution by mitigating harmonics, stabilising voltage, and improving power factor in DC charging systems. Moreover, enhancing power quality is vital to ensuring efficient and reliable high-speed charging for electric vehicles. With advancements in APF technology tailored for DC chargers, this segment presents an opportunity for improved infrastructure performance, contributing to the growth and reliability of fast-charging networks.
The Hardware segment is expected to have the highest CAGR during the forecast period
The Hardware segment is anticipated to have lucrative growth during the forecast period. The hardware segment of active power filters (APFs) in the electric car charger market encompasses the physical components and devices that constitute the filtering system. This includes power electronic devices like insulated gate bipolar transistors (IGBTs), capacitors, inductors, and control circuitry. The hardware plays a critical role in the performance and efficiency of APFs, impacting their ability to reduce harmonics, enhance power factor, and stabilise voltage. Furthermore, advancements in hardware design, such as efficient semiconductor components and improved manufacturing techniques, are vital for optimising APF functionality.
Region with largest share:
Asia Pacific commanded the largest market share during the extrapolated period. The Asia-Pacific region holds immense potential for the integration and adoption of active power filters (APFs) in the electric car charger market. Rapid urbanisation, a burgeoning population, and an increasing focus on sustainable transportation drive the demand for electric vehicles (EVs) and, consequently, charging infrastructure. Furthermore, governments in countries like China, India, Japan, and South Korea are investing heavily in promoting EVs and developing robust charging networks. APFs, with their ability to enhance power quality and grid stability, are pivotal in supporting the growth of reliable and efficient charging infrastructure in the Asia-Pacific region, facilitating the transition towards sustainable and eco-friendly mobility.
Region with highest CAGR:
North America is expected to witness profitable growth over the projection period. North America is a key region for the integration of active power filters (APFs) in the electric car charger market. The region sees a surge in electric vehicle (EV) adoption due to environmental awareness and government incentives promoting clean energy. APFs address power quality challenges by reducing harmonics and stabilising the grid during EV charging. In the U.S., Canada, and Mexico, investments in charging infrastructure and grid modernization are driving the demand for APFs to ensure efficient and reliable power supply to charging stations. This signifies a significant opportunity for APFs to contribute to the development of a robust and sustainable EV charging ecosystem in North America.
Key players in the market
Some of the key players in the APF Active Power Filter for Electric Car Chargers Market include Eaton, Baron Power, ABB, Comsys AB, Danfoss, Schneider Electric, Delta, Crompton Greaves, Siemens, Emerson Electric, Schaffner Holding, MTE Corporation, Energy Insight, Shenzhen Hisrec and TDK.
Key Developments:
In October 2023, ABB partners with Pratexo in a minority investment deal. ABB has revealed it is entering a strategic partnership with US-based Pratexo, a leader in edge-to-cloud acceleration platform technology. The partnership is underpinned by a minority investment in Pratexo via ABB's venture capital unit, ABB Technology Ventures (ATV).
In September 2023, ABB India has announced a partnership with Tata Steel to collaborate on reducing the carbon footprint of steel production. The two companies will co-create solutions aimed at improving energy efficiency, decarbonisation, and circularity in Tata Steel’s manufacturing plants and production facilities.
Types Covered:
• Shunt Active Power Filter
• Hybrid Active Power Filters
• Series Active Power Filter
Components Covered:
• Hardware
• Software
Sales Channels Covered:
• Direct Sales
• Distributors and Resellers
• Online Sales
Applications Covered:
• DC Electric Car Chargers
• AC Electric Car Chargers
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global APF Active Power Filter for Electric Car Chargers Market, By Type
5.1 Introduction
5.2 Shunt Active Power Filter
5.3 Hybrid Active Power Filters
5.4 Series Active Power Filter
6 Global APF Active Power Filter for Electric Car Chargers Market, By Component
6.1 Introduction
6.2 Hardware
6.3 Software
7 Global APF Active Power Filter for Electric Car Chargers Market, By Sales Channel
7.1 Introduction
7.2 Direct Sales
7.3 Distributors and Resellers
7.4 Online Sales
8 Global APF Active Power Filter for Electric Car Chargers Market, By Application
8.1 Introduction
8.2 DC Electric Car Chargers
8.3 AC Electric Car Chargers
9 Global APF Active Power Filter for Electric Car Chargers Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Eaton
11.2 Baron Power
11.3 ABB
11.4 Comsys AB
11.5 Danfoss
11.6 Schneider Electric
11.7 Delta
11.8 Crompton Greaves
11.9 Siemens
11.10 Emerson Electric
11.11 Schaffner Holding
11.12 MTE Corporation
11.13 Energy Insight
11.14 Shenzhen Hisrec
11.15 TDK
List of Tables
1 Global APF Active Power Filter for Electric Car Chargers Market Outlook, By Region (2021-2030) ($MN)
2 Global APF Active Power Filter for Electric Car Chargers Market Outlook, By Type (2021-2030) ($MN)
3 Global APF Active Power Filter for Electric Car Chargers Market Outlook, By Shunt Active Power Filter (2021-2030) ($MN)
4 Global APF Active Power Filter for Electric Car Chargers Market Outlook, By Hybrid Active Power Filters (2021-2030) ($MN)
5 Global APF Active Power Filter for Electric Car Chargers Market Outlook, By Series Active Power Filter (2021-2030) ($MN)
6 Global APF Active Power Filter for Electric Car Chargers Market Outlook, By Component (2021-2030) ($MN)
7 Global APF Active Power Filter for Electric Car Chargers Market Outlook, By Hardware (2021-2030) ($MN)
8 Global APF Active Power Filter for Electric Car Chargers Market Outlook, By Software (2021-2030) ($MN)
9 Global APF Active Power Filter for Electric Car Chargers Market Outlook, By Sales Channel (2021-2030) ($MN)
10 Global APF Active Power Filter for Electric Car Chargers Market Outlook, By Direct Sales (2021-2030) ($MN)
11 Global APF Active Power Filter for Electric Car Chargers Market Outlook, By Distributors and Resellers (2021-2030) ($MN)
12 Global APF Active Power Filter for Electric Car Chargers Market Outlook, By Online Sales (2021-2030) ($MN)
13 Global APF Active Power Filter for Electric Car Chargers Market Outlook, By Application (2021-2030) ($MN)
14 Global APF Active Power Filter for Electric Car Chargers Market Outlook, By DC Electric Car Chargers (2021-2030) ($MN)
15 Global APF Active Power Filter for Electric Car Chargers Market Outlook, By AC Electric Car Chargers (2021-2030) ($MN)
16 North America APF Active Power Filter for Electric Car Chargers Market Outlook, By Country (2021-2030) ($MN)
17 North America APF Active Power Filter for Electric Car Chargers Market Outlook, By Type (2021-2030) ($MN)
18 North America APF Active Power Filter for Electric Car Chargers Market Outlook, By Shunt Active Power Filter (2021-2030) ($MN)
19 North America APF Active Power Filter for Electric Car Chargers Market Outlook, By Hybrid Active Power Filters (2021-2030) ($MN)
20 North America APF Active Power Filter for Electric Car Chargers Market Outlook, By Series Active Power Filter (2021-2030) ($MN)
21 North America APF Active Power Filter for Electric Car Chargers Market Outlook, By Component (2021-2030) ($MN)
22 North America APF Active Power Filter for Electric Car Chargers Market Outlook, By Hardware (2021-2030) ($MN)
23 North America APF Active Power Filter for Electric Car Chargers Market Outlook, By Software (2021-2030) ($MN)
24 North America APF Active Power Filter for Electric Car Chargers Market Outlook, By Sales Channel (2021-2030) ($MN)
25 North America APF Active Power Filter for Electric Car Chargers Market Outlook, By Direct Sales (2021-2030) ($MN)
26 North America APF Active Power Filter for Electric Car Chargers Market Outlook, By Distributors and Resellers (2021-2030) ($MN)
27 North America APF Active Power Filter for Electric Car Chargers Market Outlook, By Online Sales (2021-2030) ($MN)
28 North America APF Active Power Filter for Electric Car Chargers Market Outlook, By Application (2021-2030) ($MN)
29 North America APF Active Power Filter for Electric Car Chargers Market Outlook, By DC Electric Car Chargers (2021-2030) ($MN)
30 North America APF Active Power Filter for Electric Car Chargers Market Outlook, By AC Electric Car Chargers (2021-2030) ($MN)
31 Europe APF Active Power Filter for Electric Car Chargers Market Outlook, By Country (2021-2030) ($MN)
32 Europe APF Active Power Filter for Electric Car Chargers Market Outlook, By Type (2021-2030) ($MN)
33 Europe APF Active Power Filter for Electric Car Chargers Market Outlook, By Shunt Active Power Filter (2021-2030) ($MN)
34 Europe APF Active Power Filter for Electric Car Chargers Market Outlook, By Hybrid Active Power Filters (2021-2030) ($MN)
35 Europe APF Active Power Filter for Electric Car Chargers Market Outlook, By Series Active Power Filter (2021-2030) ($MN)
36 Europe APF Active Power Filter for Electric Car Chargers Market Outlook, By Component (2021-2030) ($MN)
37 Europe APF Active Power Filter for Electric Car Chargers Market Outlook, By Hardware (2021-2030) ($MN)
38 Europe APF Active Power Filter for Electric Car Chargers Market Outlook, By Software (2021-2030) ($MN)
39 Europe APF Active Power Filter for Electric Car Chargers Market Outlook, By Sales Channel (2021-2030) ($MN)
40 Europe APF Active Power Filter for Electric Car Chargers Market Outlook, By Direct Sales (2021-2030) ($MN)
41 Europe APF Active Power Filter for Electric Car Chargers Market Outlook, By Distributors and Resellers (2021-2030) ($MN)
42 Europe APF Active Power Filter for Electric Car Chargers Market Outlook, By Online Sales (2021-2030) ($MN)
43 Europe APF Active Power Filter for Electric Car Chargers Market Outlook, By Application (2021-2030) ($MN)
44 Europe APF Active Power Filter for Electric Car Chargers Market Outlook, By DC Electric Car Chargers (2021-2030) ($MN)
45 Europe APF Active Power Filter for Electric Car Chargers Market Outlook, By AC Electric Car Chargers (2021-2030) ($MN)
46 Asia Pacific APF Active Power Filter for Electric Car Chargers Market Outlook, By Country (2021-2030) ($MN)
47 Asia Pacific APF Active Power Filter for Electric Car Chargers Market Outlook, By Type (2021-2030) ($MN)
48 Asia Pacific APF Active Power Filter for Electric Car Chargers Market Outlook, By Shunt Active Power Filter (2021-2030) ($MN)
49 Asia Pacific APF Active Power Filter for Electric Car Chargers Market Outlook, By Hybrid Active Power Filters (2021-2030) ($MN)
50 Asia Pacific APF Active Power Filter for Electric Car Chargers Market Outlook, By Series Active Power Filter (2021-2030) ($MN)
51 Asia Pacific APF Active Power Filter for Electric Car Chargers Market Outlook, By Component (2021-2030) ($MN)
52 Asia Pacific APF Active Power Filter for Electric Car Chargers Market Outlook, By Hardware (2021-2030) ($MN)
53 Asia Pacific APF Active Power Filter for Electric Car Chargers Market Outlook, By Software (2021-2030) ($MN)
54 Asia Pacific APF Active Power Filter for Electric Car Chargers Market Outlook, By Sales Channel (2021-2030) ($MN)
55 Asia Pacific APF Active Power Filter for Electric Car Chargers Market Outlook, By Direct Sales (2021-2030) ($MN)
56 Asia Pacific APF Active Power Filter for Electric Car Chargers Market Outlook, By Distributors and Resellers (2021-2030) ($MN)
57 Asia Pacific APF Active Power Filter for Electric Car Chargers Market Outlook, By Online Sales (2021-2030) ($MN)
58 Asia Pacific APF Active Power Filter for Electric Car Chargers Market Outlook, By Application (2021-2030) ($MN)
59 Asia Pacific APF Active Power Filter for Electric Car Chargers Market Outlook, By DC Electric Car Chargers (2021-2030) ($MN)
60 Asia Pacific APF Active Power Filter for Electric Car Chargers Market Outlook, By AC Electric Car Chargers (2021-2030) ($MN)
61 South America APF Active Power Filter for Electric Car Chargers Market Outlook, By Country (2021-2030) ($MN)
62 South America APF Active Power Filter for Electric Car Chargers Market Outlook, By Type (2021-2030) ($MN)
63 South America APF Active Power Filter for Electric Car Chargers Market Outlook, By Shunt Active Power Filter (2021-2030) ($MN)
64 South America APF Active Power Filter for Electric Car Chargers Market Outlook, By Hybrid Active Power Filters (2021-2030) ($MN)
65 South America APF Active Power Filter for Electric Car Chargers Market Outlook, By Series Active Power Filter (2021-2030) ($MN)
66 South America APF Active Power Filter for Electric Car Chargers Market Outlook, By Component (2021-2030) ($MN)
67 South America APF Active Power Filter for Electric Car Chargers Market Outlook, By Hardware (2021-2030) ($MN)
68 South America APF Active Power Filter for Electric Car Chargers Market Outlook, By Software (2021-2030) ($MN)
69 South America APF Active Power Filter for Electric Car Chargers Market Outlook, By Sales Channel (2021-2030) ($MN)
70 South America APF Active Power Filter for Electric Car Chargers Market Outlook, By Direct Sales (2021-2030) ($MN)
71 South America APF Active Power Filter for Electric Car Chargers Market Outlook, By Distributors and Resellers (2021-2030) ($MN)
72 South America APF Active Power Filter for Electric Car Chargers Market Outlook, By Online Sales (2021-2030) ($MN)
73 South America APF Active Power Filter for Electric Car Chargers Market Outlook, By Application (2021-2030) ($MN)
74 South America APF Active Power Filter for Electric Car Chargers Market Outlook, By DC Electric Car Chargers (2021-2030) ($MN)
75 South America APF Active Power Filter for Electric Car Chargers Market Outlook, By AC Electric Car Chargers (2021-2030) ($MN)
76 Middle East & Africa APF Active Power Filter for Electric Car Chargers Market Outlook, By Country (2021-2030) ($MN)
77 Middle East & Africa APF Active Power Filter for Electric Car Chargers Market Outlook, By Type (2021-2030) ($MN)
78 Middle East & Africa APF Active Power Filter for Electric Car Chargers Market Outlook, By Shunt Active Power Filter (2021-2030) ($MN)
79 Middle East & Africa APF Active Power Filter for Electric Car Chargers Market Outlook, By Hybrid Active Power Filters (2021-2030) ($MN)
80 Middle East & Africa APF Active Power Filter for Electric Car Chargers Market Outlook, By Series Active Power Filter (2021-2030) ($MN)
81 Middle East & Africa APF Active Power Filter for Electric Car Chargers Market Outlook, By Component (2021-2030) ($MN)
82 Middle East & Africa APF Active Power Filter for Electric Car Chargers Market Outlook, By Hardware (2021-2030) ($MN)
83 Middle East & Africa APF Active Power Filter for Electric Car Chargers Market Outlook, By Software (2021-2030) ($MN)
84 Middle East & Africa APF Active Power Filter for Electric Car Chargers Market Outlook, By Sales Channel (2021-2030) ($MN)
85 Middle East & Africa APF Active Power Filter for Electric Car Chargers Market Outlook, By Direct Sales (2021-2030) ($MN)
86 Middle East & Africa APF Active Power Filter for Electric Car Chargers Market Outlook, By Distributors and Resellers (2021-2030) ($MN)
87 Middle East & Africa APF Active Power Filter for Electric Car Chargers Market Outlook, By Online Sales (2021-2030) ($MN)
88 Middle East & Africa APF Active Power Filter for Electric Car Chargers Market Outlook, By Application (2021-2030) ($MN)
89 Middle East & Africa APF Active Power Filter for Electric Car Chargers Market Outlook, By DC Electric Car Chargers (2021-2030) ($MN)
90 Middle East & Africa APF Active Power Filter for Electric Car Chargers Market Outlook, By AC Electric Car Chargers (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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