Cables And Accessories Market
Cables and Accessories Market Forecasts to 2030 - Global Analysis By Voltage (Low Voltage, Medium Voltage and High Voltage), Power Range (Overhead Cables & Accessories, Underground Cables & Accessories and Submarine Cables & Accessories), End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $64.4 BN |
|
Projected Year Value (2030) |
US $119.3 BN |
|
CAGR (2023 - 2030) |
9.2% |
|
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 Cables and Accessories Market is accounted for $64.4 billion in 2023 and is expected to reach $119.3 billion by 2030 growing at a CAGR of 9.2% during the forecast period. Cables and accessories represent essential components within electrical and communication systems, facilitating the transmission of power, data, and signals across various applications and industries. These components play a crucial role in connecting devices, enabling communication networks, and powering machinery and infrastructure.
According to the Indian Ministry of Power, the Government of India plans to add 48 GW of solar power capacity by 2019 and 93 GW by 2022, under a project called Power for All.
Market Dynamics:
Driver:
Rising investments in infrastructure projects
The investments encompass a wide range of initiatives, such as transportation networks, utility expansions, smart city developments, and industrial infrastructure. As these projects progress, there is a substantial demand for cables and accessories to facilitate power transmission, communication, and data connectivity within these infrastructural developments. Moreover, the growing need for robust and efficient cable solutions to support these projects creates a considerable market opportunity, driving the demand for various types of cables and accessories, thereby contributing to the market's growth and expansion.
Restraint:
Volatility in raw material prices
Fluctuations in prices of essential materials like copper, aluminium, and polymers directly impact production costs, profit margins, and pricing strategies within the industry. Sudden spikes in raw material prices can disrupt manufacturing budgets, leading to increased expenses, affecting competitiveness, and limiting investment capacity for innovation and expansion. Thus, there is a decreasing demand for market growth.
Opportunity:
Escalating demand for renewable energy
The escalating demand for renewable energy sources, like solar and wind power, offers a promising opportunity within the cable and accessory market. As the renewable energy sector expands, there's a heightened need for specialised cables and accessories tailored for efficient energy transmission and connectivity. Furthermore, these components play a vital role in interconnecting solar panels, wind turbines, and energy storage systems, enabling the seamless distribution of clean energy to the grid. Capitalising on this escalating demand fosters innovation and growth prospects for manufacturers offering reliable and high-performance cables and accessories for renewable energy infrastructure.
Threat:
Availability of inexpensive products in grey markets
Grey markets often offer counterfeit or low-quality products at cheaper rates, undermining the market for genuine and certified cables and accessories. These illicit products compromise safety, reliability, and performance standards, eroding consumer confidence in authentic products. The availability of cheap alternatives affects market competitiveness, profit margins, and brand reputation for legitimate manufacturers, leading to revenue loss and market share decline. Thereby, it will impede market demand.
Covid-19 Impact
The COVID-19 pandemic, causing supply chain disruptions and manufacturing shutdowns, led to delays in production and distribution. The slowdown in construction projects and industrial activities further dampened demand. Remote working trends increased the need for data cables but reduced demand for commercial construction-related cables. However, increased investments in digital infrastructure, renewable energy projects, and the gradual resumption of construction activities aided market recovery.
The low voltage segment is expected to be the largest during the forecast period
The low voltage segment is estimated to hold the largest share. Low-voltage refers to cables designed for electricity transmission at lower voltage levels, typically up to 1,000 volts. These cables are crucial for various applications, like residential, commercial, and some industrial settings where lower power requirements exist. They include wiring used for lighting, appliances, small machinery, and internal electrical systems. Furthermore, low-voltage cables and accessories play a fundamental role in powering everyday electrical devices and systems while ensuring safety and reliability in diverse settings.
The infrastructure segment is expected to have the highest CAGR during the forecast period
The infrastructure segment is anticipated to have lucrative growth during the forecast period. Cables and accessories required for the development and maintenance of critical infrastructure systems like transportation, utilities, and public services. These cables encompass power transmission cables, communication cables, and wiring necessary for bridges, roads, railways, airports, and utilities such as water and wastewater management. Moreover, accessories in this segment encompass connectors, junction boxes, conduits, and terminations designed to meet the specific demands of infrastructure projects, ensuring reliable connectivity and efficient functioning of essential systems for societal development and connectivity.
Region with largest share:
Asia Pacific commanded the largest market share during the extrapolated period due to massive T&D network expansion and increasing urbanization and industrialization projects in China and India. The global market for power transmission and distribution systems is expanding due in large part to the rising demand for electricity, which in turn is propelling the market for low-voltage cables and accessories. Accelerated urbanization, renewable energy projects, and technological advancements fuel this market, catering to diverse industries such as energy, telecommunications, automotive, and construction.
Region with highest CAGR:
North America is expected to witness profitable growth over the projection period, owing to the expansion of the transmission and distribution network and the adoption of smart grid technology. The region, including the United States and Canada, witnesses substantial demand for power cables, fibre optics, and connectivity accessories across various sectors. Furthermore, the market showcases a competitive landscape with a mix of established companies and innovative startups, fostering continuous advancements and investments in cutting-edge technologies for enhanced connectivity and energy transmission solutions.
Key players in the market
Some of the key players in the Cables And Accessories Market include ABB, NKT Cables, Nexans, General Cable, Sumitomo, Southwire, Prysmian, LS Cable, Dubai Cable, Tele-Fonika, Elsewedy, Kabelwerke, Furukawa, Eland Cables Ltd, TE Connectivity Ltd and Brugg Kabel AG.
Key Developments:
In December 2022, NKT was awarded a turnkey cable system contract for the electrification of the North of Alvheim (NOA) and Krafla offshore fields in the North Sea's NOAKA area. More than 255 kilometers of 145kV high-voltage AC power cables will be designed, manufactured, and installed by the cable-laying vessel NKT Victoria.
In February 2022, Sumitomo Electric Industries, Ltd. was granted a Limited Notice to Proceed (LNTP) by Samsung C&T Corporation to supply a direct High-Voltage Current (HVDC) cable to Abu Dhabi National Oil Company (ADNOC) in the United Arab Emirates (UAE). The project is worth approximately USD 200 million, and system operations are planned to begin in 2025.
Voltages Covered:
• Low Voltage
• Medium Voltage
• High Voltage
Power Ranges Covered:
• Overhead Cables & Accessories
• Underground Cables & Accessories
• Submarine Cables & Accessories
End Users Covered:
• Industrial
• Infrastructure
• Renewable
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 End User 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 Cables And Accessories Market, By Voltage
5.1 Introduction
5.2 Low Voltage
5.3 Medium Voltage
5.4 High Voltage
6 Global Cables And Accessories Market, By Power Range
6.1 Introduction
6.2 Overhead Cables & Accessories
6.3 Underground Cables & Accessories
6.4 Submarine Cables & Accessories
7 Global Cables And Accessories Market, By End User
7.1 Introduction
7.2 Industrial
7.2.1 Utilities
7.2.2 Mining & Metals
7.2.3 Oil & Gas
7.2.4 Chemicals & Petrochemicals
7.3 Infrastructure
7.3.1 Transportation
7.3.2 Commercial & Residential
7.4 Renewable
7.4.1 Solar Power
7.4.2 Wind Power
8 Global Cables And Accessories Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 ABB
10.2 NKT Cables
10.3 Nexans
10.4 General Cable
10.5 Sumitomo
10.6 Southwire
10.7 Prysmian
10.8 LS Cable
10.9 Dubai Cable
10.10 Tele-Fonika
10.11 Elsewedy
10.12 Kabelwerke
10.13 Furukawa
10.14 Eland Cables Ltd
10.15 TE Connectivity Ltd
10.16 Brugg Kabel AG
List of Tables
1 Global Cables And Accessories Market Outlook, By Region (2021-2030) ($MN)
2 Global Cables And Accessories Market Outlook, By Voltage (2021-2030) ($MN)
3 Global Cables And Accessories Market Outlook, By Low Voltage (2021-2030) ($MN)
4 Global Cables And Accessories Market Outlook, By Medium Voltage (2021-2030) ($MN)
5 Global Cables And Accessories Market Outlook, By High Voltage (2021-2030) ($MN)
6 Global Cables And Accessories Market Outlook, By Power Range (2021-2030) ($MN)
7 Global Cables And Accessories Market Outlook, By Overhead Cables & Accessories (2021-2030) ($MN)
8 Global Cables And Accessories Market Outlook, By Underground Cables & Accessories (2021-2030) ($MN)
9 Global Cables And Accessories Market Outlook, By Submarine Cables & Accessories (2021-2030) ($MN)
10 Global Cables And Accessories Market Outlook, By End User (2021-2030) ($MN)
11 Global Cables And Accessories Market Outlook, By Industrial (2021-2030) ($MN)
12 Global Cables And Accessories Market Outlook, By Utilities (2021-2030) ($MN)
13 Global Cables And Accessories Market Outlook, By Mining & Metals (2021-2030) ($MN)
14 Global Cables And Accessories Market Outlook, By Oil & Gas (2021-2030) ($MN)
15 Global Cables And Accessories Market Outlook, By Chemicals & Petrochemicals (2021-2030) ($MN)
16 Global Cables And Accessories Market Outlook, By Infrastructure (2021-2030) ($MN)
17 Global Cables And Accessories Market Outlook, By Transportation (2021-2030) ($MN)
18 Global Cables And Accessories Market Outlook, By Commercial & Residential (2021-2030) ($MN)
19 Global Cables And Accessories Market Outlook, By Renewable (2021-2030) ($MN)
20 Global Cables And Accessories Market Outlook, By Solar Power (2021-2030) ($MN)
21 Global Cables And Accessories Market Outlook, By Wind Power (2021-2030) ($MN)
22 North America Cables And Accessories Market Outlook, By Country (2021-2030) ($MN)
23 North America Cables And Accessories Market Outlook, By Voltage (2021-2030) ($MN)
24 North America Cables And Accessories Market Outlook, By Low Voltage (2021-2030) ($MN)
25 North America Cables And Accessories Market Outlook, By Medium Voltage (2021-2030) ($MN)
26 North America Cables And Accessories Market Outlook, By High Voltage (2021-2030) ($MN)
27 North America Cables And Accessories Market Outlook, By Power Range (2021-2030) ($MN)
28 North America Cables And Accessories Market Outlook, By Overhead Cables & Accessories (2021-2030) ($MN)
29 North America Cables And Accessories Market Outlook, By Underground Cables & Accessories (2021-2030) ($MN)
30 North America Cables And Accessories Market Outlook, By Submarine Cables & Accessories (2021-2030) ($MN)
31 North America Cables And Accessories Market Outlook, By End User (2021-2030) ($MN)
32 North America Cables And Accessories Market Outlook, By Industrial (2021-2030) ($MN)
33 North America Cables And Accessories Market Outlook, By Utilities (2021-2030) ($MN)
34 North America Cables And Accessories Market Outlook, By Mining & Metals (2021-2030) ($MN)
35 North America Cables And Accessories Market Outlook, By Oil & Gas (2021-2030) ($MN)
36 North America Cables And Accessories Market Outlook, By Chemicals & Petrochemicals (2021-2030) ($MN)
37 North America Cables And Accessories Market Outlook, By Infrastructure (2021-2030) ($MN)
38 North America Cables And Accessories Market Outlook, By Transportation (2021-2030) ($MN)
39 North America Cables And Accessories Market Outlook, By Commercial & Residential (2021-2030) ($MN)
40 North America Cables And Accessories Market Outlook, By Renewable (2021-2030) ($MN)
41 North America Cables And Accessories Market Outlook, By Solar Power (2021-2030) ($MN)
42 North America Cables And Accessories Market Outlook, By Wind Power (2021-2030) ($MN)
43 Europe Cables And Accessories Market Outlook, By Country (2021-2030) ($MN)
44 Europe Cables And Accessories Market Outlook, By Voltage (2021-2030) ($MN)
45 Europe Cables And Accessories Market Outlook, By Low Voltage (2021-2030) ($MN)
46 Europe Cables And Accessories Market Outlook, By Medium Voltage (2021-2030) ($MN)
47 Europe Cables And Accessories Market Outlook, By High Voltage (2021-2030) ($MN)
48 Europe Cables And Accessories Market Outlook, By Power Range (2021-2030) ($MN)
49 Europe Cables And Accessories Market Outlook, By Overhead Cables & Accessories (2021-2030) ($MN)
50 Europe Cables And Accessories Market Outlook, By Underground Cables & Accessories (2021-2030) ($MN)
51 Europe Cables And Accessories Market Outlook, By Submarine Cables & Accessories (2021-2030) ($MN)
52 Europe Cables And Accessories Market Outlook, By End User (2021-2030) ($MN)
53 Europe Cables And Accessories Market Outlook, By Industrial (2021-2030) ($MN)
54 Europe Cables And Accessories Market Outlook, By Utilities (2021-2030) ($MN)
55 Europe Cables And Accessories Market Outlook, By Mining & Metals (2021-2030) ($MN)
56 Europe Cables And Accessories Market Outlook, By Oil & Gas (2021-2030) ($MN)
57 Europe Cables And Accessories Market Outlook, By Chemicals & Petrochemicals (2021-2030) ($MN)
58 Europe Cables And Accessories Market Outlook, By Infrastructure (2021-2030) ($MN)
59 Europe Cables And Accessories Market Outlook, By Transportation (2021-2030) ($MN)
60 Europe Cables And Accessories Market Outlook, By Commercial & Residential (2021-2030) ($MN)
61 Europe Cables And Accessories Market Outlook, By Renewable (2021-2030) ($MN)
62 Europe Cables And Accessories Market Outlook, By Solar Power (2021-2030) ($MN)
63 Europe Cables And Accessories Market Outlook, By Wind Power (2021-2030) ($MN)
64 Asia Pacific Cables And Accessories Market Outlook, By Country (2021-2030) ($MN)
65 Asia Pacific Cables And Accessories Market Outlook, By Voltage (2021-2030) ($MN)
66 Asia Pacific Cables And Accessories Market Outlook, By Low Voltage (2021-2030) ($MN)
67 Asia Pacific Cables And Accessories Market Outlook, By Medium Voltage (2021-2030) ($MN)
68 Asia Pacific Cables And Accessories Market Outlook, By High Voltage (2021-2030) ($MN)
69 Asia Pacific Cables And Accessories Market Outlook, By Power Range (2021-2030) ($MN)
70 Asia Pacific Cables And Accessories Market Outlook, By Overhead Cables & Accessories (2021-2030) ($MN)
71 Asia Pacific Cables And Accessories Market Outlook, By Underground Cables & Accessories (2021-2030) ($MN)
72 Asia Pacific Cables And Accessories Market Outlook, By Submarine Cables & Accessories (2021-2030) ($MN)
73 Asia Pacific Cables And Accessories Market Outlook, By End User (2021-2030) ($MN)
74 Asia Pacific Cables And Accessories Market Outlook, By Industrial (2021-2030) ($MN)
75 Asia Pacific Cables And Accessories Market Outlook, By Utilities (2021-2030) ($MN)
76 Asia Pacific Cables And Accessories Market Outlook, By Mining & Metals (2021-2030) ($MN)
77 Asia Pacific Cables And Accessories Market Outlook, By Oil & Gas (2021-2030) ($MN)
78 Asia Pacific Cables And Accessories Market Outlook, By Chemicals & Petrochemicals (2021-2030) ($MN)
79 Asia Pacific Cables And Accessories Market Outlook, By Infrastructure (2021-2030) ($MN)
80 Asia Pacific Cables And Accessories Market Outlook, By Transportation (2021-2030) ($MN)
81 Asia Pacific Cables And Accessories Market Outlook, By Commercial & Residential (2021-2030) ($MN)
82 Asia Pacific Cables And Accessories Market Outlook, By Renewable (2021-2030) ($MN)
83 Asia Pacific Cables And Accessories Market Outlook, By Solar Power (2021-2030) ($MN)
84 Asia Pacific Cables And Accessories Market Outlook, By Wind Power (2021-2030) ($MN)
85 South America Cables And Accessories Market Outlook, By Country (2021-2030) ($MN)
86 South America Cables And Accessories Market Outlook, By Voltage (2021-2030) ($MN)
87 South America Cables And Accessories Market Outlook, By Low Voltage (2021-2030) ($MN)
88 South America Cables And Accessories Market Outlook, By Medium Voltage (2021-2030) ($MN)
89 South America Cables And Accessories Market Outlook, By High Voltage (2021-2030) ($MN)
90 South America Cables And Accessories Market Outlook, By Power Range (2021-2030) ($MN)
91 South America Cables And Accessories Market Outlook, By Overhead Cables & Accessories (2021-2030) ($MN)
92 South America Cables And Accessories Market Outlook, By Underground Cables & Accessories (2021-2030) ($MN)
93 South America Cables And Accessories Market Outlook, By Submarine Cables & Accessories (2021-2030) ($MN)
94 South America Cables And Accessories Market Outlook, By End User (2021-2030) ($MN)
95 South America Cables And Accessories Market Outlook, By Industrial (2021-2030) ($MN)
96 South America Cables And Accessories Market Outlook, By Utilities (2021-2030) ($MN)
97 South America Cables And Accessories Market Outlook, By Mining & Metals (2021-2030) ($MN)
98 South America Cables And Accessories Market Outlook, By Oil & Gas (2021-2030) ($MN)
99 South America Cables And Accessories Market Outlook, By Chemicals & Petrochemicals (2021-2030) ($MN)
100 South America Cables And Accessories Market Outlook, By Infrastructure (2021-2030) ($MN)
101 South America Cables And Accessories Market Outlook, By Transportation (2021-2030) ($MN)
102 South America Cables And Accessories Market Outlook, By Commercial & Residential (2021-2030) ($MN)
103 South America Cables And Accessories Market Outlook, By Renewable (2021-2030) ($MN)
104 South America Cables And Accessories Market Outlook, By Solar Power (2021-2030) ($MN)
105 South America Cables And Accessories Market Outlook, By Wind Power (2021-2030) ($MN)
106 Middle East & Africa Cables And Accessories Market Outlook, By Country (2021-2030) ($MN)
107 Middle East & Africa Cables And Accessories Market Outlook, By Voltage (2021-2030) ($MN)
108 Middle East & Africa Cables And Accessories Market Outlook, By Low Voltage (2021-2030) ($MN)
109 Middle East & Africa Cables And Accessories Market Outlook, By Medium Voltage (2021-2030) ($MN)
110 Middle East & Africa Cables And Accessories Market Outlook, By High Voltage (2021-2030) ($MN)
111 Middle East & Africa Cables And Accessories Market Outlook, By Power Range (2021-2030) ($MN)
112 Middle East & Africa Cables And Accessories Market Outlook, By Overhead Cables & Accessories (2021-2030) ($MN)
113 Middle East & Africa Cables And Accessories Market Outlook, By Underground Cables & Accessories (2021-2030) ($MN)
114 Middle East & Africa Cables And Accessories Market Outlook, By Submarine Cables & Accessories (2021-2030) ($MN)
115 Middle East & Africa Cables And Accessories Market Outlook, By End User (2021-2030) ($MN)
116 Middle East & Africa Cables And Accessories Market Outlook, By Industrial (2021-2030) ($MN)
117 Middle East & Africa Cables And Accessories Market Outlook, By Utilities (2021-2030) ($MN)
118 Middle East & Africa Cables And Accessories Market Outlook, By Mining & Metals (2021-2030) ($MN)
119 Middle East & Africa Cables And Accessories Market Outlook, By Oil & Gas (2021-2030) ($MN)
120 Middle East & Africa Cables And Accessories Market Outlook, By Chemicals & Petrochemicals (2021-2030) ($MN)
121 Middle East & Africa Cables And Accessories Market Outlook, By Infrastructure (2021-2030) ($MN)
122 Middle East & Africa Cables And Accessories Market Outlook, By Transportation (2021-2030) ($MN)
123 Middle East & Africa Cables And Accessories Market Outlook, By Commercial & Residential (2021-2030) ($MN)
124 Middle East & Africa Cables And Accessories Market Outlook, By Renewable (2021-2030) ($MN)
125 Middle East & Africa Cables And Accessories Market Outlook, By Solar Power (2021-2030) ($MN)
126 Middle East & Africa Cables And Accessories Market Outlook, By Wind Power (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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