Bathroom Flooring Market
Bathroom Flooring Market Forecasts to 2030 - Global Analysis By Product Type (Tiles, Planks and Sheets/Rolls), Type (Ceramic Tile, Vinyl Sheet, Stone Flooring, Laminate Flooring, Wood Flooring, Porcelain Tiles and Other Types), Special Feature, End User and By Geography
|
Years Covered |
2021-2030 |
|
CAGR (2023 - 2030) |
6.5% |
|
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 Bathroom Flooring Market is growing at a CAGR of 6.5% during the forecast period. Bathroom flooring refers to the materials used to cover the floor surfaces in bathrooms. It plays an essential role in providing aesthetics, durability, and functionality to the bathroom space. Materials commonly used for bathroom flooring include ceramic or porcelain tiles, vinyl, laminate natural stone like marble or granite, and waterproof options such as luxury vinyl and engineered wood and various other materials tailored to withstand the moisture-rich environment of bathrooms.
According to a Harvard Joint Centre for housing studies article published in January 2021, the growth of house remodeling and repair expenditures has increased from 3.5% in 2020 to 3.8% in 2021, based on the most recent Leading Indicator of Remodeling Activity (LIRA).
Market Dynamics:
Driver:
Surge in renovation and remodelling endeavours
With an increasing focus on upgrading living spaces, both in residential and commercial sectors, there's a heightened demand for modernizing and enhancing bathroom aesthetics and functionality. Homeowners and businesses alike undertake remodelling projects to revamp outdated spaces, and bathrooms are a primary focus due to their significance in property value and personal comfort. This trend propels the demand for innovative, durable, and visually appealing flooring materials designed specifically for bathroom spaces.
Restraint:
High installation and maintenance costs
Certain premium flooring materials, such as natural stone or specialised tiles, involve expensive installation processes and necessitate ongoing maintenance, which may be cost-prohibitive for many consumers. These elevated expenses limit the accessibility and affordability of these flooring options, steering some individuals towards more budget-friendly alternatives. Also, the need for specialised installation expertise and periodic maintenance increases the overall lifetime cost of ownership, potentially deterring potential buyers and affecting the widespread adoption of high-end flooring materials in the market.
Opportunity:
Smart flooring solutions
Smart flooring solutions present a significant opportunity in the bathroom flooring market by integrating advanced technology into flooring materials. These solutions encompass innovations such as heated floors, anti-slip sensors, and moisture-detecting systems. Heated floors offer comfort, while anti-slip sensors minimise accidents in wet areas. Additionally, moisture-detecting systems aid in early leak detection. The integration of technology into flooring not only improves the user experience but also positions manufacturers at the forefront of innovation, meeting the increasing demand for sophisticated and intelligent bathroom flooring options in modern living spaces.
Threat:
Rapidly changing trends
Rapidly changing trends pose a threat to the bathroom flooring market as they demand swift adaptations from manufacturers and suppliers. Constant shifts in design styles, colours, and materials challenge the industry to predict and produce flooring options in line with evolving consumer preferences. Failure to swiftly respond can lead to inventory obsolescence and an inability to meet market demands, impacting sales and market competitiveness.
Covid-19 Impact
The COVID-19 is initially causing supply chain disruptions, leading to material shortages, delaying projects, and increasing prices. Consumer behaviour shifted towards online shopping due to lockdowns, impacting showroom sales. Demand for antimicrobial and easy-to-clean flooring surged, emphasising hygiene concerns. However, as restrictions eased, a rebound in renovation and construction projects occurred, boosting the market's recovery.
The ceramic tile segment is expected to be the largest during the forecast period
The ceramic tile segment is estimated to hold the largest share. Its popularity stems from its durability, water resistance, and diverse design options, which appeal to consumers seeking long-lasting and aesthetically pleasing flooring solutions. Innovations in larger-format tiles, textured finishes, and eco-friendly materials elevated its appeal. Furthermore, with its versatility and ability to emulate various materials, ceramic tile remains a prominent choice for consumers seeking both practicality and style in their bathroom flooring.
The waterproof flooring segment is expected to have the highest CAGR during the forecast period
The waterproof flooring segment is anticipated to have lucrative growth during the forecast period, due to its resilience against moisture and spills. This segment encompasses diverse materials like ceramic tile and waterproof laminates, catering to consumer preferences for durability and functionality. With an emphasis on preventing water damage and mould growth, innovative advancements in technology and materials have emerged. These include rigid core flooring and engineered vinyl planks, offering superior water resistance and aesthetics and meeting the evolving needs of consumers seeking reliable and long-lasting bathroom flooring solutions.
Region with largest share:
Asia Pacific commanded the largest market share during the extrapolated period due to rapid urbanisation, rising disposable incomes, and evolving consumer preferences. The region displayed resilience, witnessing a swift rebound post-lockdowns with a surge in construction and renovation activities. The market experienced a shift towards eco-friendly, low-maintenance, and technologically advanced flooring solutions like luxury vinyl tiles and ceramic tiles. Emerging economies, coupled with a growing focus on aesthetics and functionality, continue to fuel innovation, making the Asia Pacific a vibrant hub for diverse and innovative bathroom flooring options.
Region with highest CAGR:
North America is expected to witness profitable growth over the projection period due to innovations in sustainable materials and digital advancements. Innovations in sustainable materials, such as recycled content and eco-friendly options, gained prominence. Moreover, technological advancements, including digital imaging for realistic textures and designs, continued shaping the market. North America's focus on hygiene, sustainability, and advancing technologies has propelled a diverse range of resilient and stylish bathroom flooring options to meet evolving consumer demands in the region.
Key players in the market
Some of the key players in the Bathroom Flooring Market include Armstrong Flooring Residential, NOX corporation, Mannington Mills, Gerflor, Forbo, Congoleum, Metroflor, Moduleo, Karndean, Dur-A-Flex, Riviera Home UK, Beauflor, Crossville, Inc., Porcelanosa Group, Shaw Industries Group, Inc., Interface, Inc., Tarkett and Mohawk Industries.
Key Developments:
In September 2022, Mannington Mills has partnered with Roomvo, allowing retailers who utilize the visualization platform to add the manufacturer’s floors to applications. It enables consumers to easily evaluate different designs in their own home.
In December 2020, Mannington Mills has entered into an exclusive partnership with Microban, a leading antimicrobial consumer brand, and will feature the surface protection technology on a majority of its Adura LVT products.
Product Types Covered:
• Tiles
• Planks
• Sheets/Rolls
Types Covered:
• Ceramic Tile
• Vinyl Sheet
• Stone Flooring
• Laminate Flooring
• Wood Flooring
• Porcelain Tiles
• Other Types
Special Features Covered:
• Waterproof Flooring
• Heated Flooring
• Non-Slip Flooring
End Users Covered:
• Commercial
• Residential
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
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 Product 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 Bathroom Flooring Market, By Product Type
5.1 Introduction
5.2 Tiles
5.3 Planks
5.4 Sheets/Rolls
6 Global Bathroom Flooring Market, By Type
6.1 Introduction
6.2 Ceramic Tile
6.3 Vinyl Sheet
6.4 Stone Flooring
6.5 Laminate Flooring
6.6 Wood Flooring
6.7 Porcelain Tiles
6.8 Other Types
7 Global Bathroom Flooring Market, By Special Features
7.1 Introduction
7.2 Waterproof Flooring
7.3 Heated Flooring
7.4 Non-Slip Flooring
8 Global Bathroom Flooring Market, By End User
8.1 Introduction
8.2 Commercial
8.3 Residential
9 Global Bathroom Flooring 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 Armstrong Flooring Residential
11.2 NOX corporation
11.3 Mannington Mills
11.4 Gerflor
11.5 Forbo
11.6 Congoleum
11.7 Metroflor
11.8 Moduleo
11.9 Karndean
11.10 Dur-A-Flex
11.11 Riviera Home UK
11.12 Beauflor
11.13 Crossville, Inc.
11.14 Porcelanosa Group
11.15 Shaw Industries Group, Inc.
11.16 Interface, Inc.
11.17 Tarkett
11.18 Mohawk Industries
List of Tables
1 Global Bathroom Flooring Market Outlook, By Region (2021-2030) ($MN)
2 Global Bathroom Flooring Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Bathroom Flooring Market Outlook, By Tiles (2021-2030) ($MN)
4 Global Bathroom Flooring Market Outlook, By Planks (2021-2030) ($MN)
5 Global Bathroom Flooring Market Outlook, By Sheets/Rolls (2021-2030) ($MN)
6 Global Bathroom Flooring Market Outlook, By Type (2021-2030) ($MN)
7 Global Bathroom Flooring Market Outlook, By Ceramic Tile (2021-2030) ($MN)
8 Global Bathroom Flooring Market Outlook, By Vinyl Sheet (2021-2030) ($MN)
9 Global Bathroom Flooring Market Outlook, By Stone Flooring (2021-2030) ($MN)
10 Global Bathroom Flooring Market Outlook, By Laminate Flooring (2021-2030) ($MN)
11 Global Bathroom Flooring Market Outlook, By Wood Flooring (2021-2030) ($MN)
12 Global Bathroom Flooring Market Outlook, By Porcelain Tiles (2021-2030) ($MN)
13 Global Bathroom Flooring Market Outlook, By Other Types (2021-2030) ($MN)
14 Global Bathroom Flooring Market Outlook, By Special Features (2021-2030) ($MN)
15 Global Bathroom Flooring Market Outlook, By Waterproof Flooring (2021-2030) ($MN)
16 Global Bathroom Flooring Market Outlook, By Heated Flooring (2021-2030) ($MN)
17 Global Bathroom Flooring Market Outlook, By Non-Slip Flooring (2021-2030) ($MN)
18 Global Bathroom Flooring Market Outlook, By End User (2021-2030) ($MN)
19 Global Bathroom Flooring Market Outlook, By Commercial (2021-2030) ($MN)
20 Global Bathroom Flooring Market Outlook, By Residential (2021-2030) ($MN)
21 North America Bathroom Flooring Market Outlook, By Country (2021-2030) ($MN)
22 North America Bathroom Flooring Market Outlook, By Product Type (2021-2030) ($MN)
23 North America Bathroom Flooring Market Outlook, By Tiles (2021-2030) ($MN)
24 North America Bathroom Flooring Market Outlook, By Planks (2021-2030) ($MN)
25 North America Bathroom Flooring Market Outlook, By Sheets/Rolls (2021-2030) ($MN)
26 North America Bathroom Flooring Market Outlook, By Type (2021-2030) ($MN)
27 North America Bathroom Flooring Market Outlook, By Ceramic Tile (2021-2030) ($MN)
28 North America Bathroom Flooring Market Outlook, By Vinyl Sheet (2021-2030) ($MN)
29 North America Bathroom Flooring Market Outlook, By Stone Flooring (2021-2030) ($MN)
30 North America Bathroom Flooring Market Outlook, By Laminate Flooring (2021-2030) ($MN)
31 North America Bathroom Flooring Market Outlook, By Wood Flooring (2021-2030) ($MN)
32 North America Bathroom Flooring Market Outlook, By Porcelain Tiles (2021-2030) ($MN)
33 North America Bathroom Flooring Market Outlook, By Other Types (2021-2030) ($MN)
34 North America Bathroom Flooring Market Outlook, By Special Features (2021-2030) ($MN)
35 North America Bathroom Flooring Market Outlook, By Waterproof Flooring (2021-2030) ($MN)
36 North America Bathroom Flooring Market Outlook, By Heated Flooring (2021-2030) ($MN)
37 North America Bathroom Flooring Market Outlook, By Non-Slip Flooring (2021-2030) ($MN)
38 North America Bathroom Flooring Market Outlook, By End User (2021-2030) ($MN)
39 North America Bathroom Flooring Market Outlook, By Commercial (2021-2030) ($MN)
40 North America Bathroom Flooring Market Outlook, By Residential (2021-2030) ($MN)
41 Europe Bathroom Flooring Market Outlook, By Country (2021-2030) ($MN)
42 Europe Bathroom Flooring Market Outlook, By Product Type (2021-2030) ($MN)
43 Europe Bathroom Flooring Market Outlook, By Tiles (2021-2030) ($MN)
44 Europe Bathroom Flooring Market Outlook, By Planks (2021-2030) ($MN)
45 Europe Bathroom Flooring Market Outlook, By Sheets/Rolls (2021-2030) ($MN)
46 Europe Bathroom Flooring Market Outlook, By Type (2021-2030) ($MN)
47 Europe Bathroom Flooring Market Outlook, By Ceramic Tile (2021-2030) ($MN)
48 Europe Bathroom Flooring Market Outlook, By Vinyl Sheet (2021-2030) ($MN)
49 Europe Bathroom Flooring Market Outlook, By Stone Flooring (2021-2030) ($MN)
50 Europe Bathroom Flooring Market Outlook, By Laminate Flooring (2021-2030) ($MN)
51 Europe Bathroom Flooring Market Outlook, By Wood Flooring (2021-2030) ($MN)
52 Europe Bathroom Flooring Market Outlook, By Porcelain Tiles (2021-2030) ($MN)
53 Europe Bathroom Flooring Market Outlook, By Other Types (2021-2030) ($MN)
54 Europe Bathroom Flooring Market Outlook, By Special Features (2021-2030) ($MN)
55 Europe Bathroom Flooring Market Outlook, By Waterproof Flooring (2021-2030) ($MN)
56 Europe Bathroom Flooring Market Outlook, By Heated Flooring (2021-2030) ($MN)
57 Europe Bathroom Flooring Market Outlook, By Non-Slip Flooring (2021-2030) ($MN)
58 Europe Bathroom Flooring Market Outlook, By End User (2021-2030) ($MN)
59 Europe Bathroom Flooring Market Outlook, By Commercial (2021-2030) ($MN)
60 Europe Bathroom Flooring Market Outlook, By Residential (2021-2030) ($MN)
61 Asia Pacific Bathroom Flooring Market Outlook, By Country (2021-2030) ($MN)
62 Asia Pacific Bathroom Flooring Market Outlook, By Product Type (2021-2030) ($MN)
63 Asia Pacific Bathroom Flooring Market Outlook, By Tiles (2021-2030) ($MN)
64 Asia Pacific Bathroom Flooring Market Outlook, By Planks (2021-2030) ($MN)
65 Asia Pacific Bathroom Flooring Market Outlook, By Sheets/Rolls (2021-2030) ($MN)
66 Asia Pacific Bathroom Flooring Market Outlook, By Type (2021-2030) ($MN)
67 Asia Pacific Bathroom Flooring Market Outlook, By Ceramic Tile (2021-2030) ($MN)
68 Asia Pacific Bathroom Flooring Market Outlook, By Vinyl Sheet (2021-2030) ($MN)
69 Asia Pacific Bathroom Flooring Market Outlook, By Stone Flooring (2021-2030) ($MN)
70 Asia Pacific Bathroom Flooring Market Outlook, By Laminate Flooring (2021-2030) ($MN)
71 Asia Pacific Bathroom Flooring Market Outlook, By Wood Flooring (2021-2030) ($MN)
72 Asia Pacific Bathroom Flooring Market Outlook, By Porcelain Tiles (2021-2030) ($MN)
73 Asia Pacific Bathroom Flooring Market Outlook, By Other Types (2021-2030) ($MN)
74 Asia Pacific Bathroom Flooring Market Outlook, By Special Features (2021-2030) ($MN)
75 Asia Pacific Bathroom Flooring Market Outlook, By Waterproof Flooring (2021-2030) ($MN)
76 Asia Pacific Bathroom Flooring Market Outlook, By Heated Flooring (2021-2030) ($MN)
77 Asia Pacific Bathroom Flooring Market Outlook, By Non-Slip Flooring (2021-2030) ($MN)
78 Asia Pacific Bathroom Flooring Market Outlook, By End User (2021-2030) ($MN)
79 Asia Pacific Bathroom Flooring Market Outlook, By Commercial (2021-2030) ($MN)
80 Asia Pacific Bathroom Flooring Market Outlook, By Residential (2021-2030) ($MN)
81 South America Bathroom Flooring Market Outlook, By Country (2021-2030) ($MN)
82 South America Bathroom Flooring Market Outlook, By Product Type (2021-2030) ($MN)
83 South America Bathroom Flooring Market Outlook, By Tiles (2021-2030) ($MN)
84 South America Bathroom Flooring Market Outlook, By Planks (2021-2030) ($MN)
85 South America Bathroom Flooring Market Outlook, By Sheets/Rolls (2021-2030) ($MN)
86 South America Bathroom Flooring Market Outlook, By Type (2021-2030) ($MN)
87 South America Bathroom Flooring Market Outlook, By Ceramic Tile (2021-2030) ($MN)
88 South America Bathroom Flooring Market Outlook, By Vinyl Sheet (2021-2030) ($MN)
89 South America Bathroom Flooring Market Outlook, By Stone Flooring (2021-2030) ($MN)
90 South America Bathroom Flooring Market Outlook, By Laminate Flooring (2021-2030) ($MN)
91 South America Bathroom Flooring Market Outlook, By Wood Flooring (2021-2030) ($MN)
92 South America Bathroom Flooring Market Outlook, By Porcelain Tiles (2021-2030) ($MN)
93 South America Bathroom Flooring Market Outlook, By Other Types (2021-2030) ($MN)
94 South America Bathroom Flooring Market Outlook, By Special Features (2021-2030) ($MN)
95 South America Bathroom Flooring Market Outlook, By Waterproof Flooring (2021-2030) ($MN)
96 South America Bathroom Flooring Market Outlook, By Heated Flooring (2021-2030) ($MN)
97 South America Bathroom Flooring Market Outlook, By Non-Slip Flooring (2021-2030) ($MN)
98 South America Bathroom Flooring Market Outlook, By End User (2021-2030) ($MN)
99 South America Bathroom Flooring Market Outlook, By Commercial (2021-2030) ($MN)
100 South America Bathroom Flooring Market Outlook, By Residential (2021-2030) ($MN)
101 Middle East & Africa Bathroom Flooring Market Outlook, By Country (2021-2030) ($MN)
102 Middle East & Africa Bathroom Flooring Market Outlook, By Product Type (2021-2030) ($MN)
103 Middle East & Africa Bathroom Flooring Market Outlook, By Tiles (2021-2030) ($MN)
104 Middle East & Africa Bathroom Flooring Market Outlook, By Planks (2021-2030) ($MN)
105 Middle East & Africa Bathroom Flooring Market Outlook, By Sheets/Rolls (2021-2030) ($MN)
106 Middle East & Africa Bathroom Flooring Market Outlook, By Type (2021-2030) ($MN)
107 Middle East & Africa Bathroom Flooring Market Outlook, By Ceramic Tile (2021-2030) ($MN)
108 Middle East & Africa Bathroom Flooring Market Outlook, By Vinyl Sheet (2021-2030) ($MN)
109 Middle East & Africa Bathroom Flooring Market Outlook, By Stone Flooring (2021-2030) ($MN)
110 Middle East & Africa Bathroom Flooring Market Outlook, By Laminate Flooring (2021-2030) ($MN)
111 Middle East & Africa Bathroom Flooring Market Outlook, By Wood Flooring (2021-2030) ($MN)
112 Middle East & Africa Bathroom Flooring Market Outlook, By Porcelain Tiles (2021-2030) ($MN)
113 Middle East & Africa Bathroom Flooring Market Outlook, By Other Types (2021-2030) ($MN)
114 Middle East & Africa Bathroom Flooring Market Outlook, By Special Features (2021-2030) ($MN)
115 Middle East & Africa Bathroom Flooring Market Outlook, By Waterproof Flooring (2021-2030) ($MN)
116 Middle East & Africa Bathroom Flooring Market Outlook, By Heated Flooring (2021-2030) ($MN)
117 Middle East & Africa Bathroom Flooring Market Outlook, By Non-Slip Flooring (2021-2030) ($MN)
118 Middle East & Africa Bathroom Flooring Market Outlook, By End User (2021-2030) ($MN)
119 Middle East & Africa Bathroom Flooring Market Outlook, By Commercial (2021-2030) ($MN)
120 Middle East & Africa Bathroom Flooring Market Outlook, By Residential (2021-2030) ($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.
For more details about research methodology, kindly write to us at info@strategymrc.com
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