Automotive Battery Management System Market
Automotive Battery Management System Market Forecasts to 2028 - Global Analysis By Component (Battery Sensors, Battery IC and Other Components), Propulsion (Electric Vehicle, IC Engine Vehicle and Other Propulsions), Vehicle, Connection , Sales Channel and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $5.9 BN |
|
Projected Year Value (2028) |
US $13.9 BN |
|
CAGR (2022 - 2028) |
15.35% |
|
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 |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Automotive Battery Management System Market is accounted for $5.9 billion in 2022 and is expected to reach $13.9 billion by 2028 growing at a CAGR of 15.35% during the forecast period. The automotive battery management system aids in keeping track of a battery's performance and consumption. It regulates the operating area, balances the battery, provides protection for the battery and also manages rechargeable batteries. They are available in either master-slave or single-board architecture. The market is expanding due to factors such as temperature control, data logging, and improving battery longevity which is propelling the market growth.
According to the International Energy Agency (IEA), based on current trends and policies, the unit sales of electric cars, heavy trucks, vans and buses are projected to reach 145 million on the road worldwide.
Market Dynamics:
Driver:
Increasing usage of electric vehicles
Electric vehicles have BMS to monitor battery states like charge status and battery health. The automotive battery management system connects with other drive parts to keep track of the charge level. It aids in cell balance, battery heat protection, and current regulation during charging. In the coming years, the market is anticipated to witness the development of improved automotive battery management systems due to the increased usage of electric vehicles.
Restraint:
Complications in battery structures
The battery packs, main and aux chargers, motor controllers, safety devices, cooling and heating elements, SOC displays, and BMS main control units are various parts that make up an electric vehicle's battery management system. The deficient battery management systems cannot be combined with the intricate battery structure, severely limiting market expansion. This significant challenge in market expansion is hampered by battery management systems that are incapable of handling complicated battery structures.
Opportunity:
Increasing trend of electric vehicles
The increasing trend of electric vehicles is estimated to generate lucrative opportunities for the market, which will further expand the automotive battery management system market's growth rate in the future. Due to petrol price crisis, people started adopting electric vehicles. The industry players are confident that once the epidemic eases down, this market is poised to grow quickly because of the huge increase in electric car sales that occurred during the pandemic.
Threat:
High cost
The automotive battery management system sector is facing financial constraints in the developing nations due to problems with many of these nations' weak foundations. Import taxes have been consistently higher for parts other than those from emerging regions. The market is anticipated to be constrained by the high cost of producing battery management systems due to obstacles including port obligations, import levies, and taxes.
Covid-19 Impact
The market was immensely impacted by the outbreak of COVID-19. The demand diminished due to the worldwide travel and transportation bans as well as the stoppage of manufacturing operations. The big corporations are experiencing a close down as they cannot start new initiatives and complete product development. GST decrease is incorporated for a set amount of time. The corporations are anticipated to benefit from this approach by reducing future losses and easing the effects of previous losses.
The battery segment is expected to be the largest during the forecast period
The battery segment is estimated to have a lucrative growth, due to high capacity and ability of flow batteries. They have high energy density and metals used in it are environmentally friendly. They are non flammable, safe, releases high energy and have long shelf life. It has capacity to survive extreme temperatures which propels their market demand.
The modular segment is expected to have the highest CAGR during the forecast period
The modular segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its improved scalability. It performs better and offers a safe, reliable, and affordable solution for smart grids and electric vehicles. The system also offers enhanced manageability. Long cables are avoided by placing modules close to batteries which is anticipated to lucrative growth of the market.
Region with highest share:
North America is projected to hold the largest market share during the forecast period owing to the increasing demand of the commercial and passenger vehicle within the region. The presence of manufacturing facilities of major automotive manufacturers and significant investment in R&D activities and rise in funding for the development of hybrid electric vehicles is propelling the market.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period, owing to improved infrastructure development within the region. The increase in battery-electric automotive is also a significant contributor to the regional market expansion. Increasing rigidity on vehicular emission and rising support for electrification are fueling the market growth.
Key players in the market
Some of the key players profiled in the Automotive Battery Management System Market include Analog Devices, Inc, Toshiba Corporation, Renesas Electronics Corporation, Robert Bosch GmbH, Intel Corporation, AVL LIST GmbH, Continental AG, MIDTRONICS, Inc, Texas Instruments Inc, LG Chem Ltd, Johnson Matthey Plc, HORIBA MIRA Ltd, Lithium Balance A/S, Preh GmbH, NXP Semiconductors NV, Denso Corporation, Eberspacher, Elithion Inc, Leclanche SA, Marelli Holdings Co Ltd, Navitas System LLC, Nidec Motor Corporation, Aston Martin
Key Developments:
In March 2022, Aston Martin and Britishvolt disclosed a partnership to create high-performance cars' next-generation battery technology. This collaboration will concentrate on the creation of new battery modules and automotive BMS as part of Aston Martin's efforts to introduce an electric vehicle.
In May 2022, Marelli Holdings Co., Ltd. introduced the Wireless Distributed Battery Management System to expand its battery management technology for electric vehicles (wBMS). With this technology, connected physical connections are no longer necessary, resulting in better flexibility, enhanced efficiency, improved reliability, and lower costs than traditional battery management system architectures.
Components Covered:
• Battery Sensors
• Battery IC
• Other Components
Propulsions Covered:
• Electric Vehicle
• IC Engine Vehicle
• Other Propulsions
Connections Covered:
• Distributed
• Modular
• Centralised
• Other Connections
Vehicles Covered:
• Commercial Vehicles
• Passenger Cars
• Other Vehicles
Sales Channels Covered:
• Aftermarket
• OEM
• Other Sales Channels
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 2020, 2021, 2022, 2025, and 2028
- 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 Emerging Markets
3.7 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 Automotive Battery Management System Market, By Component
5.1 Introduction
5.2 Battery Sensors
5.3 Battery IC
5.4 Other Components
6 Global Automotive Battery Management System Market, By Propulsion
6.1 Introduction
6.2 Electric Vehicle
6.3 IC Engine Vehicle
6.4 Other Propulsions
7 Global Automotive Battery Management System Market, By Vehicle
7.1 Introduction
7.2 Commercial Vehicles
7.3 Passenger Cars
7.4 Other Vehicles
8 Global Automotive Battery Management System Market, By Connection
8.1 Introduction
8.2 Distributed
8.3 Modular
8.4 Centralised
8.5 Other Connections
9 Global Automotive Battery Management System Market, By Sales Channel
9.1 Introduction
9.2 Aftermarket
9.3 OEM
9.4 Other Sales Channels
10 Global Automotive Battery Management System Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Analog Devices, Inc
12.2 Toshiba Corporation
12.3 Renesas Electronics Corporation
12.4 Robert Bosch GmbH
12.5 Intel Corporation
12.6 AVL LIST GmbH
12.7 Continental AG
12.8 MIDTRONICS, Inc
12.9 Texas Instruments Inc
12.10 LG Chem Ltd
12.11 Johnson Matthey Plc
12.12 HORIBA MIRA Ltd
12.13 Lithium Balance A/S
12.14 Preh GmbH
12.15 NXP Semiconductors NV
12.16 Denso Corporation
12.17 Eberspacher
12.18 Elithion Inc
12.19 Leclanche SA
12.20 Marelli Holdings Co Ltd
12.21 Navitas System LLC
12.22 Nidec Motor Corporation
12.23 Aston Martin
List of Tables
1 Global Automotive Battery Management System Market Outlook, By Region (2020-2028) ($MN)
2 Global Automotive Battery Management System Market Outlook, By Component (2020-2028) ($MN)
3 Global Automotive Battery Management System Market Outlook, By Battery Sensors (2020-2028) ($MN)
4 Global Automotive Battery Management System Market Outlook, By Battery IC (2020-2028) ($MN)
5 Global Automotive Battery Management System Market Outlook, By Other Components (2020-2028) ($MN)
6 Global Automotive Battery Management System Market Outlook, By Propulsion (2020-2028) ($MN)
7 Global Automotive Battery Management System Market Outlook, By Electric Vehicle (2020-2028) ($MN)
8 Global Automotive Battery Management System Market Outlook, By IC Engine Vehicle (2020-2028) ($MN)
9 Global Automotive Battery Management System Market Outlook, By Other Propulsions (2020-2028) ($MN)
10 Global Automotive Battery Management System Market Outlook, By Vehicle (2020-2028) ($MN)
11 Global Automotive Battery Management System Market Outlook, By Commercial Vehicles (2020-2028) ($MN)
12 Global Automotive Battery Management System Market Outlook, By Passenger Cars (2020-2028) ($MN)
13 Global Automotive Battery Management System Market Outlook, By Other Vehicles (2020-2028) ($MN)
14 Global Automotive Battery Management System Market Outlook, By Connection (2020-2028) ($MN)
15 Global Automotive Battery Management System Market Outlook, By Distributed (2020-2028) ($MN)
16 Global Automotive Battery Management System Market Outlook, By Modular (2020-2028) ($MN)
17 Global Automotive Battery Management System Market Outlook, By Centralised (2020-2028) ($MN)
18 Global Automotive Battery Management System Market Outlook, By Other Connections (2020-2028) ($MN)
19 Global Automotive Battery Management System Market Outlook, By Sales Channel (2020-2028) ($MN)
20 Global Automotive Battery Management System Market Outlook, By Aftermarket (2020-2028) ($MN)
21 Global Automotive Battery Management System Market Outlook, By OEM (2020-2028) ($MN)
22 Global Automotive Battery Management System Market Outlook, By Other Sales Channels (2020-2028) ($MN)
23 North America Automotive Battery Management System Market Outlook, By Country (2020-2028) ($MN)
24 North America Automotive Battery Management System Market Outlook, By Component (2020-2028) ($MN)
25 North America Automotive Battery Management System Market Outlook, By Battery Sensors (2020-2028) ($MN)
26 North America Automotive Battery Management System Market Outlook, By Battery IC (2020-2028) ($MN)
27 North America Automotive Battery Management System Market Outlook, By Other Components (2020-2028) ($MN)
28 North America Automotive Battery Management System Market Outlook, By Propulsion (2020-2028) ($MN)
29 North America Automotive Battery Management System Market Outlook, By Electric Vehicle (2020-2028) ($MN)
30 North America Automotive Battery Management System Market Outlook, By IC Engine Vehicle (2020-2028) ($MN)
31 North America Automotive Battery Management System Market Outlook, By Other Propulsions (2020-2028) ($MN)
32 North America Automotive Battery Management System Market Outlook, By Vehicle (2020-2028) ($MN)
33 North America Automotive Battery Management System Market Outlook, By Commercial Vehicles (2020-2028) ($MN)
34 North America Automotive Battery Management System Market Outlook, By Passenger Cars (2020-2028) ($MN)
35 North America Automotive Battery Management System Market Outlook, By Other Vehicles (2020-2028) ($MN)
36 North America Automotive Battery Management System Market Outlook, By Connection (2020-2028) ($MN)
37 North America Automotive Battery Management System Market Outlook, By Distributed (2020-2028) ($MN)
38 North America Automotive Battery Management System Market Outlook, By Modular (2020-2028) ($MN)
39 North America Automotive Battery Management System Market Outlook, By Centralised (2020-2028) ($MN)
40 North America Automotive Battery Management System Market Outlook, By Other Connections (2020-2028) ($MN)
41 North America Automotive Battery Management System Market Outlook, By Sales Channel (2020-2028) ($MN)
42 North America Automotive Battery Management System Market Outlook, By Aftermarket (2020-2028) ($MN)
43 North America Automotive Battery Management System Market Outlook, By OEM (2020-2028) ($MN)
44 North America Automotive Battery Management System Market Outlook, By Other Sales Channels (2020-2028) ($MN)
45 Europe Automotive Battery Management System Market Outlook, By Country (2020-2028) ($MN)
46 Europe Automotive Battery Management System Market Outlook, By Component (2020-2028) ($MN)
47 Europe Automotive Battery Management System Market Outlook, By Battery Sensors (2020-2028) ($MN)
48 Europe Automotive Battery Management System Market Outlook, By Battery IC (2020-2028) ($MN)
49 Europe Automotive Battery Management System Market Outlook, By Other Components (2020-2028) ($MN)
50 Europe Automotive Battery Management System Market Outlook, By Propulsion (2020-2028) ($MN)
51 Europe Automotive Battery Management System Market Outlook, By Electric Vehicle (2020-2028) ($MN)
52 Europe Automotive Battery Management System Market Outlook, By IC Engine Vehicle (2020-2028) ($MN)
53 Europe Automotive Battery Management System Market Outlook, By Other Propulsions (2020-2028) ($MN)
54 Europe Automotive Battery Management System Market Outlook, By Vehicle (2020-2028) ($MN)
55 Europe Automotive Battery Management System Market Outlook, By Commercial Vehicles (2020-2028) ($MN)
56 Europe Automotive Battery Management System Market Outlook, By Passenger Cars (2020-2028) ($MN)
57 Europe Automotive Battery Management System Market Outlook, By Other Vehicles (2020-2028) ($MN)
58 Europe Automotive Battery Management System Market Outlook, By Connection (2020-2028) ($MN)
59 Europe Automotive Battery Management System Market Outlook, By Distributed (2020-2028) ($MN)
60 Europe Automotive Battery Management System Market Outlook, By Modular (2020-2028) ($MN)
61 Europe Automotive Battery Management System Market Outlook, By Centralised (2020-2028) ($MN)
62 Europe Automotive Battery Management System Market Outlook, By Other Connections (2020-2028) ($MN)
63 Europe Automotive Battery Management System Market Outlook, By Sales Channel (2020-2028) ($MN)
64 Europe Automotive Battery Management System Market Outlook, By Aftermarket (2020-2028) ($MN)
65 Europe Automotive Battery Management System Market Outlook, By OEM (2020-2028) ($MN)
66 Europe Automotive Battery Management System Market Outlook, By Other Sales Channels (2020-2028) ($MN)
67 Asia Pacific Automotive Battery Management System Market Outlook, By Country (2020-2028) ($MN)
68 Asia Pacific Automotive Battery Management System Market Outlook, By Component (2020-2028) ($MN)
69 Asia Pacific Automotive Battery Management System Market Outlook, By Battery Sensors (2020-2028) ($MN)
70 Asia Pacific Automotive Battery Management System Market Outlook, By Battery IC (2020-2028) ($MN)
71 Asia Pacific Automotive Battery Management System Market Outlook, By Other Components (2020-2028) ($MN)
72 Asia Pacific Automotive Battery Management System Market Outlook, By Propulsion (2020-2028) ($MN)
73 Asia Pacific Automotive Battery Management System Market Outlook, By Electric Vehicle (2020-2028) ($MN)
74 Asia Pacific Automotive Battery Management System Market Outlook, By IC Engine Vehicle (2020-2028) ($MN)
75 Asia Pacific Automotive Battery Management System Market Outlook, By Other Propulsions (2020-2028) ($MN)
76 Asia Pacific Automotive Battery Management System Market Outlook, By Vehicle (2020-2028) ($MN)
77 Asia Pacific Automotive Battery Management System Market Outlook, By Commercial Vehicles (2020-2028) ($MN)
78 Asia Pacific Automotive Battery Management System Market Outlook, By Passenger Cars (2020-2028) ($MN)
79 Asia Pacific Automotive Battery Management System Market Outlook, By Other Vehicles (2020-2028) ($MN)
80 Asia Pacific Automotive Battery Management System Market Outlook, By Connection (2020-2028) ($MN)
81 Asia Pacific Automotive Battery Management System Market Outlook, By Distributed (2020-2028) ($MN)
82 Asia Pacific Automotive Battery Management System Market Outlook, By Modular (2020-2028) ($MN)
83 Asia Pacific Automotive Battery Management System Market Outlook, By Centralised (2020-2028) ($MN)
84 Asia Pacific Automotive Battery Management System Market Outlook, By Other Connections (2020-2028) ($MN)
85 Asia Pacific Automotive Battery Management System Market Outlook, By Sales Channel (2020-2028) ($MN)
86 Asia Pacific Automotive Battery Management System Market Outlook, By Aftermarket (2020-2028) ($MN)
87 Asia Pacific Automotive Battery Management System Market Outlook, By OEM (2020-2028) ($MN)
88 Asia Pacific Automotive Battery Management System Market Outlook, By Other Sales Channels (2020-2028) ($MN)
89 South America Automotive Battery Management System Market Outlook, By Country (2020-2028) ($MN)
90 South America Automotive Battery Management System Market Outlook, By Component (2020-2028) ($MN)
91 South America Automotive Battery Management System Market Outlook, By Battery Sensors (2020-2028) ($MN)
92 South America Automotive Battery Management System Market Outlook, By Battery IC (2020-2028) ($MN)
93 South America Automotive Battery Management System Market Outlook, By Other Components (2020-2028) ($MN)
94 South America Automotive Battery Management System Market Outlook, By Propulsion (2020-2028) ($MN)
95 South America Automotive Battery Management System Market Outlook, By Electric Vehicle (2020-2028) ($MN)
96 South America Automotive Battery Management System Market Outlook, By IC Engine Vehicle (2020-2028) ($MN)
97 South America Automotive Battery Management System Market Outlook, By Other Propulsions (2020-2028) ($MN)
98 South America Automotive Battery Management System Market Outlook, By Vehicle (2020-2028) ($MN)
99 South America Automotive Battery Management System Market Outlook, By Commercial Vehicles (2020-2028) ($MN)
100 South America Automotive Battery Management System Market Outlook, By Passenger Cars (2020-2028) ($MN)
101 South America Automotive Battery Management System Market Outlook, By Other Vehicles (2020-2028) ($MN)
102 South America Automotive Battery Management System Market Outlook, By Connection (2020-2028) ($MN)
103 South America Automotive Battery Management System Market Outlook, By Distributed (2020-2028) ($MN)
104 South America Automotive Battery Management System Market Outlook, By Modular (2020-2028) ($MN)
105 South America Automotive Battery Management System Market Outlook, By Centralised (2020-2028) ($MN)
106 South America Automotive Battery Management System Market Outlook, By Other Connections (2020-2028) ($MN)
107 South America Automotive Battery Management System Market Outlook, By Sales Channel (2020-2028) ($MN)
108 South America Automotive Battery Management System Market Outlook, By Aftermarket (2020-2028) ($MN)
109 South America Automotive Battery Management System Market Outlook, By OEM (2020-2028) ($MN)
110 South America Automotive Battery Management System Market Outlook, By Other Sales Channels (2020-2028) ($MN)
111 Middle East & Africa Automotive Battery Management System Market Outlook, By Country (2020-2028) ($MN)
112 Middle East & Africa Automotive Battery Management System Market Outlook, By Component (2020-2028) ($MN)
113 Middle East & Africa Automotive Battery Management System Market Outlook, By Battery Sensors (2020-2028) ($MN)
114 Middle East & Africa Automotive Battery Management System Market Outlook, By Battery IC (2020-2028) ($MN)
115 Middle East & Africa Automotive Battery Management System Market Outlook, By Other Components (2020-2028) ($MN)
116 Middle East & Africa Automotive Battery Management System Market Outlook, By Propulsion (2020-2028) ($MN)
117 Middle East & Africa Automotive Battery Management System Market Outlook, By Electric Vehicle (2020-2028) ($MN)
118 Middle East & Africa Automotive Battery Management System Market Outlook, By IC Engine Vehicle (2020-2028) ($MN)
119 Middle East & Africa Automotive Battery Management System Market Outlook, By Other Propulsions (2020-2028) ($MN)
120 Middle East & Africa Automotive Battery Management System Market Outlook, By Vehicle (2020-2028) ($MN)
121 Middle East & Africa Automotive Battery Management System Market Outlook, By Commercial Vehicles (2020-2028) ($MN)
122 Middle East & Africa Automotive Battery Management System Market Outlook, By Passenger Cars (2020-2028) ($MN)
123 Middle East & Africa Automotive Battery Management System Market Outlook, By Other Vehicles (2020-2028) ($MN)
124 Middle East & Africa Automotive Battery Management System Market Outlook, By Connection (2020-2028) ($MN)
125 Middle East & Africa Automotive Battery Management System Market Outlook, By Distributed (2020-2028) ($MN)
126 Middle East & Africa Automotive Battery Management System Market Outlook, By Modular (2020-2028) ($MN)
127 Middle East & Africa Automotive Battery Management System Market Outlook, By Centralised (2020-2028) ($MN)
128 Middle East & Africa Automotive Battery Management System Market Outlook, By Other Connections (2020-2028) ($MN)
129 Middle East & Africa Automotive Battery Management System Market Outlook, By Sales Channel (2020-2028) ($MN)
130 Middle East & Africa Automotive Battery Management System Market Outlook, By Aftermarket (2020-2028) ($MN)
131 Middle East & Africa Automotive Battery Management System Market Outlook, By OEM (2020-2028) ($MN)
132 Middle East & Africa Automotive Battery Management System Market Outlook, By Other Sales Channels (2020-2028) ($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.
For more details about research methodology, kindly write to us at info@strategymrc.com
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