Aviation Blockchain Market
Aviation Blockchain Market Forecasts to 2030 - Global Analysis By Application (Aircraft Refueling, Airline Revenue Sharing, Cargo & Baggage Tracking, E-ticketing & Ticket Tokenization, Flight & Crew Data Management, Frequent Flyer Programs, Passenger Identity Management, Travel Insurance, Supply Chain Management, Aircraft Maintenance and Other Applications), End User (Airports, Lessors and Other End Users) and By Geography
Years Covered |
2022-2030 |
Estimated Year Value (2024) |
US $1.003 BN |
Projected Year Value (2030) |
US $3.698 BN |
CAGR (2024 - 2030) |
24.3% |
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 |
Europe |
According to Stratistics MRC, the Global Aviation Blockchain Market is accounted for $1.003 billion in 2024 and is expected to reach $3.698 billion by 2030 growing at a CAGR of 24.3% during the forecast period. Aviation Blockchain refers to the application of blockchain technology within the aviation industry to enhance efficiency, security, and transparency in various processes. By utilizing blockchain, a decentralized and immutable ledger system, aviation stakeholders such as airlines, airports, maintenance providers, and regulators can streamline operations, reduce costs, and mitigate risks associated with data manipulation or fraudulent activities.
According to the data released by the International Civil Aviation Organization (ICAO), 4.3 billion passengers were carried by airlines in the year 2018.
Market Dynamics:
Driver:
Increased transparency and traceability
Blockchain's decentralized ledger system ensures that every transaction and data entry is recorded securely and immutably, providing a transparent view of the entire supply chain and operational processes. This transparency helps stakeholders, including airlines, manufacturers, maintenance providers, and regulators, to verify the authenticity and integrity of data related to aircraft maintenance, parts tracking, and flight records. Moreover, blockchain's tamper-proof nature ensures that once information is entered into the system, it cannot be altered retroactively, thus enhancing trust among parties and reducing the risk of fraud or errors.
Restraint:
Data privacy and security concerns
Data privacy and security concerns pose significant obstacles to the growth of the Aviation Blockchain Market. Aviation data, which often includes sensitive information such as passenger details, flight schedules, and maintenance records, must be securely stored and accessed. Ensuring the privacy and security of this data within a blockchain framework remains a complex task. However, concerns regarding data breaches, unauthorized access, and compliance with regulations such as GDPR further exacerbate these challenges.
Opportunity:
Smart contracts for automation
Smart Contracts play a pivotal role in enhancing the Aviation Blockchain Market by automating various processes within the industry. These self-executing contracts, powered by blockchain technology, enable secure and transparent automation of agreements between parties without the need for intermediaries. In the aviation sector, smart contracts facilitate streamlined operations across a range of activities, including aircraft leasing, ticketing, cargo handling, and maintenance scheduling. For instance, smart contracts can automatically trigger payments for leasing agreements based on predefined conditions such as flight hours or maintenance milestones. This automation not only reduces administrative overhead but also minimizes the risk of errors and disputes.
Threat:
Legacy systems integration
The Aviation Blockchain Market faces a significant hurdle in legacy systems integration. Legacy systems, often built on outdated technology and protocols, lack compatibility with blockchain frameworks, leading to complexities in data migration and synchronization. The aviation industry operates within a highly regulated environment, necessitating adherence to stringent standards and protocols, further complicating the integration process. Overcoming these integration barriers requires concerted efforts from industry stakeholders to develop interoperable standards and frameworks that facilitate the seamless incorporation of blockchain technology into existing aviation infrastructure
Covid-19 Impact:
With widespread travel restrictions, plummeting passenger numbers, and airlines scaling back operations, the need for innovative solutions became even more pronounced. While some blockchain projects in aviation may have been delayed or put on hold due to budget constraints and uncertainty, others gained momentum as stakeholders sought ways to streamline processes, enhance supply chain resilience, and ensure compliance with evolving health and safety regulations. However, the sudden downturn in air travel demand and financial constraints faced by airlines led to a slowdown in the implementation of blockchain solutions.
The Frequent Flyer Programs segment is expected to be the largest during the forecast period
Frequent Flyer Programs segment is expected to be the largest during the forecast period. Blockchain's immutable ledger system allows airlines to securely track and manage loyalty rewards, such as miles and points, across multiple partners and platforms. This transparency builds trust among travelers and encourages participation in FFPs, driving customer loyalty and engagement. Furthermore, blockchain enables real-time transactions and seamless redemption of rewards, reducing administrative costs and enhancing operational efficiency for airlines.
The Lessors segment is expected to have the highest CAGR during the forecast period
Lessors segment is expected to have the highest CAGR during the forecast period. By embracing blockchain technology, lessors can streamline and secure various processes involved in leasing aircraft, including documentation, transactions, and maintenance records. It facilitates real-time monitoring of aircraft utilization and performance data, enabling lessors to make informed decisions swiftly. This enhanced efficiency not only optimizes operational costs but also improves overall aircraft asset management.
Region with largest share:
North America region is poised to hold the largest market share throughout the forecasted period. By integrating blockchain, North American aviation stakeholders are streamlining processes such as aircraft maintenance, supply chain management, and passenger data management. Smart contracts automate and enforce agreements, reducing administrative overhead and enhancing trust among industry participants across the region. Additionally, blockchain facilitates the secure sharing of critical data across stakeholders, fostering collaboration and improving overall safety standards. This integration not only optimizes operational workflows but also mitigates risks associated with data breaches and counterfeit parts throughout the region.
Region with highest CAGR:
Europe region is expected to witness lucrative growth during the extrapolated period. Government regulations are fostering a conducive environment for the regional adoption of blockchain technology within the aviation industry. By mandating transparency, security, and efficiency standards, regulatory bodies are incentivizing airlines, airports, and other stakeholders to integrate blockchain solutions into their operations across the region. With blockchain's inherent characteristics such as immutability, decentralization, and cryptographic security, it offers a robust framework for enhancing various aspects of aviation, including supply chain management, maintenance tracking and passenger data management throughout the region.
Key players in the market
Some of the key players in Aviation Blockchain market include Aeron Labs, Infosys Limited, Insolar Technologies, International Business Machines Corporation, Microsoft Corporation, Moog Inc, Safeflights, Inc, Sweetbridge Ltd, Volantio Inc and Zamna Technologies Limited.
Key Developments:
In April 2024, Infosys a global leader in next-generation digital services and consulting, announced a definitive agreement to acquire in-tech, a leading Engineering R&D services provider focused on German automotive industry. This strategic investment further strengthens Infosys' Engineering R&D capabilities and reaffirms its continued commitment to global clients to navigate their digital engineering journey.
In October 2023, IBM is announcing that it has acquired Manta Software Inc – a world-class data lineage platform — to complement its capabilities within watsonx.ai, watsonx.data and watsonx.governance and help businesses deliver products that are built on principles of trust and transparency.
Applications Covered:
• Aircraft Refueling
• Airline Revenue Sharing
• Cargo & Baggage Tracking
• E-ticketing & Ticket Tokenization
• Flight & Crew Data Management
• Frequent Flyer Programs
• Passenger Identity Management
• Travel Insurance
• Supply Chain Management
• Aircraft Maintenance
• Other Applications
End Users Covered:
• Airports
• Lessors
• Other End Users
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 2022, 2023, 2024, 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
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 End User Analysis
3.8 Emerging Markets
3.9 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 Aviation Blockchain Market, By Application
5.1 Introduction
5.2 Aircraft Refueling
5.3 Airline Revenue Sharing
5.4 Cargo & Baggage Tracking
5.5 E-ticketing & Ticket Tokenization
5.6 Flight & Crew Data Management
5.7 Frequent Flyer Programs
5.8 Passenger Identity Management
5.9 Travel Insurance
5.10 Supply Chain Management
5.10.1 Parts Tracking
5.10.2 Parts Health Monitoring
5.11 Aircraft Maintenance
5.12 Other Applications
6 Global Aviation Blockchain Market, By End User
6.1 Introduction
6.2 Airports
6.3 Lessors
6.4 Other End Users
7 Global Aviation Blockchain Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Aeron Labs
9.2 Infosys Limited
9.3 Insolar Technologies
9.4 International Business Machines Corporation
9.5 Microsoft Corporation
9.6 Moog Inc
9.7 Safeflights, Inc
9.8 Sweetbridge Ltd
9.9 Volantio Inc
9.10 Zamna Technologies Limited
List of Tables
1 Global Aviation Blockchain Market Outlook, By Region (2022-2030) ($MN)
2 Global Aviation Blockchain Market Outlook, By Application (2022-2030) ($MN)
3 Global Aviation Blockchain Market Outlook, By Aircraft Refueling (2022-2030) ($MN)
4 Global Aviation Blockchain Market Outlook, By Airline Revenue Sharing (2022-2030) ($MN)
5 Global Aviation Blockchain Market Outlook, By Cargo & Baggage Tracking (2022-2030) ($MN)
6 Global Aviation Blockchain Market Outlook, By E-ticketing & Ticket Tokenization (2022-2030) ($MN)
7 Global Aviation Blockchain Market Outlook, By Flight & Crew Data Management (2022-2030) ($MN)
8 Global Aviation Blockchain Market Outlook, By Frequent Flyer Programs (2022-2030) ($MN)
9 Global Aviation Blockchain Market Outlook, By Passenger Identity Management (2022-2030) ($MN)
10 Global Aviation Blockchain Market Outlook, By Travel Insurance (2022-2030) ($MN)
11 Global Aviation Blockchain Market Outlook, By Supply Chain Management (2022-2030) ($MN)
12 Global Aviation Blockchain Market Outlook, By Parts Tracking (2022-2030) ($MN)
13 Global Aviation Blockchain Market Outlook, By Parts Health Monitoring (2022-2030) ($MN)
14 Global Aviation Blockchain Market Outlook, By Aircraft Maintenance (2022-2030) ($MN)
15 Global Aviation Blockchain Market Outlook, By Other Applications (2022-2030) ($MN)
16 Global Aviation Blockchain Market Outlook, By End User (2022-2030) ($MN)
17 Global Aviation Blockchain Market Outlook, By Airports (2022-2030) ($MN)
18 Global Aviation Blockchain Market Outlook, By Lessors (2022-2030) ($MN)
19 Global Aviation Blockchain Market Outlook, By Other End Users (2022-2030) ($MN)
20 North America Aviation Blockchain Market Outlook, By Country (2022-2030) ($MN)
21 North America Aviation Blockchain Market Outlook, By Application (2022-2030) ($MN)
22 North America Aviation Blockchain Market Outlook, By Aircraft Refueling (2022-2030) ($MN)
23 North America Aviation Blockchain Market Outlook, By Airline Revenue Sharing (2022-2030) ($MN)
24 North America Aviation Blockchain Market Outlook, By Cargo & Baggage Tracking (2022-2030) ($MN)
25 North America Aviation Blockchain Market Outlook, By E-ticketing & Ticket Tokenization (2022-2030) ($MN)
26 North America Aviation Blockchain Market Outlook, By Flight & Crew Data Management (2022-2030) ($MN)
27 North America Aviation Blockchain Market Outlook, By Frequent Flyer Programs (2022-2030) ($MN)
28 North America Aviation Blockchain Market Outlook, By Passenger Identity Management (2022-2030) ($MN)
29 North America Aviation Blockchain Market Outlook, By Travel Insurance (2022-2030) ($MN)
30 North America Aviation Blockchain Market Outlook, By Supply Chain Management (2022-2030) ($MN)
31 North America Aviation Blockchain Market Outlook, By Parts Tracking (2022-2030) ($MN)
32 North America Aviation Blockchain Market Outlook, By Parts Health Monitoring (2022-2030) ($MN)
33 North America Aviation Blockchain Market Outlook, By Aircraft Maintenance (2022-2030) ($MN)
34 North America Aviation Blockchain Market Outlook, By Other Applications (2022-2030) ($MN)
35 North America Aviation Blockchain Market Outlook, By End User (2022-2030) ($MN)
36 North America Aviation Blockchain Market Outlook, By Airports (2022-2030) ($MN)
37 North America Aviation Blockchain Market Outlook, By Lessors (2022-2030) ($MN)
38 North America Aviation Blockchain Market Outlook, By Other End Users (2022-2030) ($MN)
39 Europe Aviation Blockchain Market Outlook, By Country (2022-2030) ($MN)
40 Europe Aviation Blockchain Market Outlook, By Application (2022-2030) ($MN)
41 Europe Aviation Blockchain Market Outlook, By Aircraft Refueling (2022-2030) ($MN)
42 Europe Aviation Blockchain Market Outlook, By Airline Revenue Sharing (2022-2030) ($MN)
43 Europe Aviation Blockchain Market Outlook, By Cargo & Baggage Tracking (2022-2030) ($MN)
44 Europe Aviation Blockchain Market Outlook, By E-ticketing & Ticket Tokenization (2022-2030) ($MN)
45 Europe Aviation Blockchain Market Outlook, By Flight & Crew Data Management (2022-2030) ($MN)
46 Europe Aviation Blockchain Market Outlook, By Frequent Flyer Programs (2022-2030) ($MN)
47 Europe Aviation Blockchain Market Outlook, By Passenger Identity Management (2022-2030) ($MN)
48 Europe Aviation Blockchain Market Outlook, By Travel Insurance (2022-2030) ($MN)
49 Europe Aviation Blockchain Market Outlook, By Supply Chain Management (2022-2030) ($MN)
50 Europe Aviation Blockchain Market Outlook, By Parts Tracking (2022-2030) ($MN)
51 Europe Aviation Blockchain Market Outlook, By Parts Health Monitoring (2022-2030) ($MN)
52 Europe Aviation Blockchain Market Outlook, By Aircraft Maintenance (2022-2030) ($MN)
53 Europe Aviation Blockchain Market Outlook, By Other Applications (2022-2030) ($MN)
54 Europe Aviation Blockchain Market Outlook, By End User (2022-2030) ($MN)
55 Europe Aviation Blockchain Market Outlook, By Airports (2022-2030) ($MN)
56 Europe Aviation Blockchain Market Outlook, By Lessors (2022-2030) ($MN)
57 Europe Aviation Blockchain Market Outlook, By Other End Users (2022-2030) ($MN)
58 Asia Pacific Aviation Blockchain Market Outlook, By Country (2022-2030) ($MN)
59 Asia Pacific Aviation Blockchain Market Outlook, By Application (2022-2030) ($MN)
60 Asia Pacific Aviation Blockchain Market Outlook, By Aircraft Refueling (2022-2030) ($MN)
61 Asia Pacific Aviation Blockchain Market Outlook, By Airline Revenue Sharing (2022-2030) ($MN)
62 Asia Pacific Aviation Blockchain Market Outlook, By Cargo & Baggage Tracking (2022-2030) ($MN)
63 Asia Pacific Aviation Blockchain Market Outlook, By E-ticketing & Ticket Tokenization (2022-2030) ($MN)
64 Asia Pacific Aviation Blockchain Market Outlook, By Flight & Crew Data Management (2022-2030) ($MN)
65 Asia Pacific Aviation Blockchain Market Outlook, By Frequent Flyer Programs (2022-2030) ($MN)
66 Asia Pacific Aviation Blockchain Market Outlook, By Passenger Identity Management (2022-2030) ($MN)
67 Asia Pacific Aviation Blockchain Market Outlook, By Travel Insurance (2022-2030) ($MN)
68 Asia Pacific Aviation Blockchain Market Outlook, By Supply Chain Management (2022-2030) ($MN)
69 Asia Pacific Aviation Blockchain Market Outlook, By Parts Tracking (2022-2030) ($MN)
70 Asia Pacific Aviation Blockchain Market Outlook, By Parts Health Monitoring (2022-2030) ($MN)
71 Asia Pacific Aviation Blockchain Market Outlook, By Aircraft Maintenance (2022-2030) ($MN)
72 Asia Pacific Aviation Blockchain Market Outlook, By Other Applications (2022-2030) ($MN)
73 Asia Pacific Aviation Blockchain Market Outlook, By End User (2022-2030) ($MN)
74 Asia Pacific Aviation Blockchain Market Outlook, By Airports (2022-2030) ($MN)
75 Asia Pacific Aviation Blockchain Market Outlook, By Lessors (2022-2030) ($MN)
76 Asia Pacific Aviation Blockchain Market Outlook, By Other End Users (2022-2030) ($MN)
77 South America Aviation Blockchain Market Outlook, By Country (2022-2030) ($MN)
78 South America Aviation Blockchain Market Outlook, By Application (2022-2030) ($MN)
79 South America Aviation Blockchain Market Outlook, By Aircraft Refueling (2022-2030) ($MN)
80 South America Aviation Blockchain Market Outlook, By Airline Revenue Sharing (2022-2030) ($MN)
81 South America Aviation Blockchain Market Outlook, By Cargo & Baggage Tracking (2022-2030) ($MN)
82 South America Aviation Blockchain Market Outlook, By E-ticketing & Ticket Tokenization (2022-2030) ($MN)
83 South America Aviation Blockchain Market Outlook, By Flight & Crew Data Management (2022-2030) ($MN)
84 South America Aviation Blockchain Market Outlook, By Frequent Flyer Programs (2022-2030) ($MN)
85 South America Aviation Blockchain Market Outlook, By Passenger Identity Management (2022-2030) ($MN)
86 South America Aviation Blockchain Market Outlook, By Travel Insurance (2022-2030) ($MN)
87 South America Aviation Blockchain Market Outlook, By Supply Chain Management (2022-2030) ($MN)
88 South America Aviation Blockchain Market Outlook, By Parts Tracking (2022-2030) ($MN)
89 South America Aviation Blockchain Market Outlook, By Parts Health Monitoring (2022-2030) ($MN)
90 South America Aviation Blockchain Market Outlook, By Aircraft Maintenance (2022-2030) ($MN)
91 South America Aviation Blockchain Market Outlook, By Other Applications (2022-2030) ($MN)
92 South America Aviation Blockchain Market Outlook, By End User (2022-2030) ($MN)
93 South America Aviation Blockchain Market Outlook, By Airports (2022-2030) ($MN)
94 South America Aviation Blockchain Market Outlook, By Lessors (2022-2030) ($MN)
95 South America Aviation Blockchain Market Outlook, By Other End Users (2022-2030) ($MN)
96 Middle East & Africa Aviation Blockchain Market Outlook, By Country (2022-2030) ($MN)
97 Middle East & Africa Aviation Blockchain Market Outlook, By Application (2022-2030) ($MN)
98 Middle East & Africa Aviation Blockchain Market Outlook, By Aircraft Refueling (2022-2030) ($MN)
99 Middle East & Africa Aviation Blockchain Market Outlook, By Airline Revenue Sharing (2022-2030) ($MN)
100 Middle East & Africa Aviation Blockchain Market Outlook, By Cargo & Baggage Tracking (2022-2030) ($MN)
101 Middle East & Africa Aviation Blockchain Market Outlook, By E-ticketing & Ticket Tokenization (2022-2030) ($MN)
102 Middle East & Africa Aviation Blockchain Market Outlook, By Flight & Crew Data Management (2022-2030) ($MN)
103 Middle East & Africa Aviation Blockchain Market Outlook, By Frequent Flyer Programs (2022-2030) ($MN)
104 Middle East & Africa Aviation Blockchain Market Outlook, By Passenger Identity Management (2022-2030) ($MN)
105 Middle East & Africa Aviation Blockchain Market Outlook, By Travel Insurance (2022-2030) ($MN)
106 Middle East & Africa Aviation Blockchain Market Outlook, By Supply Chain Management (2022-2030) ($MN)
107 Middle East & Africa Aviation Blockchain Market Outlook, By Parts Tracking (2022-2030) ($MN)
108 Middle East & Africa Aviation Blockchain Market Outlook, By Parts Health Monitoring (2022-2030) ($MN)
109 Middle East & Africa Aviation Blockchain Market Outlook, By Aircraft Maintenance (2022-2030) ($MN)
110 Middle East & Africa Aviation Blockchain Market Outlook, By Other Applications (2022-2030) ($MN)
111 Middle East & Africa Aviation Blockchain Market Outlook, By End User (2022-2030) ($MN)
112 Middle East & Africa Aviation Blockchain Market Outlook, By Airports (2022-2030) ($MN)
113 Middle East & Africa Aviation Blockchain Market Outlook, By Lessors (2022-2030) ($MN)
114 Middle East & Africa Aviation Blockchain Market Outlook, By Other End Users (2022-2030) ($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.
For more details about research methodology, kindly write to us at info@strategymrc.com
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