Connected Ships Market
PUBLISHED: 2024 ID: SMRC24933
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Connected Ships Market

Connected Ships Market Forecasts to 2030 - Global Analysis By Ship Type (Defense and Commercial), Fit (Line Fit, Hybrid Fit and Retrofit), Platform, Installation, Application and By Geography

4.4 (88 reviews)
4.4 (88 reviews)
Published: 2024 ID: SMRC24933

This report covers the impact of COVID-19 on this global market
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Years Covered

2021-2030

Estimated Year Value (2023)

US $6.31 BN

Projected Year Value (2030)

US $11.62 BN

CAGR (2023 - 2030)

9.1%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Connected Ships Market is accounted for $6.31 billion in 2023 and is expected to reach $11.62 billion by 2030 growing at a CAGR of 9.1% during the forecast period. Connected ships refer to vessels equipped with advanced digital technologies and connectivity solutions aimed at enhancing various aspects of maritime operations. These vessels leverage cutting-edge technologies such as the Internet of Things (IoT), artificial intelligence (AI), data analytics, satellite communication, and automation tools to establish seamless connectivity between ship systems, onboard equipment, and onshore infrastructure. The application of connected technology on ships or vessels includes the improved management of critical ship operations, ship condition monitoring for preventive maintenance, and ship traffic management, among others. 

According to the United Nations Conference on Trade and Development (UNCTAD), up to 80% of world trade takes place by sea in various seaports.

Market Dynamics: 

Driver: 

Surge in seaborne trade

With the continuous growth of global trade activities, there is an escalating demand for efficient and reliable maritime transportation. Connected ships equipped with advanced technologies such as IoT, AI, and data analytics cater to this demand by optimising vessel operations, enhancing navigation, and improving communication. Furthermore, these innovations enable smoother logistics, timely delivery of goods, and streamlined cargo handling, meeting the increased demand for efficient seaborne trade. Thereby, it will propel market demand.

Restraint:

Complexity and integration challenges

Integrating diverse digital systems and technologies, ensuring compatibility, and managing the intricacies of interconnected solutions pose hurdles. Combining various platforms, legacy systems, and new technologies into a cohesive ecosystem requires meticulous planning, expertise, and synchronization. Challenges in seamless integration may lead to operational disruptions, increased costs, and delays in implementation. As a result, it will hinder market growth.

Opportunity:

Integration of IoT and big data analytics

By combining IoT sensors and devices with sophisticated data analytics, maritime operators can collect vast amounts of real-time data from various ship systems. This integration enables predictive maintenance, operational optimisations, and informed decision-making. Analysing data streams for patterns and trends offers insights into fuel consumption, machinery performance, and safety, facilitating proactive measures to enhance efficiency, reduce downtime, and improve overall vessel operations. Thus, market demand is substantial.

Threat:

Data management and privacy concerns

The vast volume of data collected from interconnected ship systems raises apprehensions regarding storage, confidentiality, and compliance with data protection regulations like GDPR. Managing data across several platforms and protecting sensitive information offers issues that could lead to breaches or unauthorised access. Failure to address data privacy issues may lead to regulatory non-compliance and erosion of trust, hindering the widespread adoption of connected technologies in maritime operations.

Covid-19 Impact

The government's restrictions forced shipyards, shipbuilding businesses, and other vendors to drastically change their operations, leading to the halt of shipbuilding activities. The declining demand for travel and shipping enterprises resulted in the cancellation of orders for new ships, which had an immediate impact on the associated shipping industry. In addition, cruise ships were anchored because of a drop in passenger flow during the pandemic. In some cases, this led to delays in cruise deliveries and cancellations of orders. Consequently, the market expansion was adversely impacted by the decrease in demand for new ships and the reduction in production activities.

The line fit segment is expected to be the largest during the forecast period

The line fit segment is estimated to hold the largest share. Line fit refers to the integration of connectivity and digital solutions directly into newly built vessels during their manufacturing process. Line Fit solutions are pre-installed by the original equipment manufacturer (OEM) or shipbuilder, ensuring seamless integration of connectivity features such as IoT, data analytics, communication systems, and automation tools. These are customized to the vessel's specifications and operational requirements, providing an optimized and integrated digital infrastructure from the outset.  

The vessel traffic management segment is expected to have the highest CAGR during the forecast period

The vessel traffic management segment is anticipated to have lucrative growth during the forecast period. Vessel Traffic Management systems enable real-time monitoring, tracking, and management of vessel movements, optimising traffic flow, preventing collisions, and ensuring navigational safety in busy waterways. These solutions facilitate efficient communication between vessels and shore-based authorities, supporting navigation, compliance with regulations, and overall operational efficiency, contributing to safer and more organised maritime transportation.

Region with largest share:

Asia Pacific commanded the largest market share during the extrapolated period due to increasing demand for efficient maritime operations. This region embraces digital transformation, integrating IoT, AI, and connectivity solutions to enhance vessel efficiency, safety, and fleet management. With a focus on optimising navigation, fuel consumption, remote monitoring, and predictive maintenance, the market witnesses the rising adoption of connected ship technologies. Moreover, government initiatives, growing trade activities, and the need for cost-effective, environmentally friendly shipping solutions further propel the adoption of connected ship technologies. 

Region with highest CAGR:

North America is expected to witness profitable growth over the projection period. This market segment encompasses the integration of cutting-edge technologies and digital solutions to optimize vessel performance, safety, and operational efficiency across the maritime industry. Furthermore, North America fosters collaboration among industry stakeholders, technology providers, research institutions, and government bodies. Partnerships drive innovation, support R&D initiatives, and facilitate the implementation of advanced technologies in the maritime sector. 

Key players in the market

Some of the key players in the Connected Ships Market include ABB Ltd., Schneider Electric SE, Rockwell Automation Inc., General Electric Company, Northrop Grumman Corporation, Emerson Electric Co., Valmet Oyj, Kongsberg Gruppen ASA, Wartsila Corporation, Marlink AS, Atos SE, Synectics Global, Ulstein Group ASA, Hyundai Heavy Industries (HHI), Jason, Mitsubishi Heavy Industries Group, RH Marine, Honeywell International Inc., Siemens AG and Rolls-Royce Holdings plc.

Key Developments:

In January 2023, Marlink announced an agreement with Singapore-based ship manager Thome Group for the delivery of hybrid network connectivity services for at least 100 ships.

In February 2022, Mitsubishi Shipbuilding agrees to construct the World's first demonstration test ship for liquefied CO2 transportation. The ship will integrate the company's liquefied gas handling technologies for tomorrow's long-distance, high-volume LCO2 transport needs.

Ship Types Covered:
• Defense
• Commercial

Fits Covered:
• Line Fit
• Hybrid Fit
• Retrofit

Platforms Covered:
• Ports
• Ships
• Cargo

Installations Covered:
• Onshore
• Onboard

Applications Covered:
• Fleet Health Monitoring 
• Vessel Traffic Management 
• Fleet Operation 
• Other Applications 

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 Application Analysis     
 3.7 Emerging Markets      
 3.8 Impact of Covid-19      
         
4 Porters Five Force Analysis      
 4.1 Bargaining power of suppliers     
 4.2 Bargaining power of buyers     
 4.3 Threat of substitutes     
 4.4 Threat of new entrants     
 4.5 Competitive rivalry      
         
5 Global Connected Ships Market, By Ship Type    
 5.1 Introduction      
 5.2 Defense       
 5.3 Commercial      
         
6 Global Connected Ships Market, By Fit     
 6.1 Introduction      
 6.2 Line Fit       
 6.3 Hybrid Fit      
 6.4 Retrofit       
         
7 Global Connected Ships Market, By Platform    
 7.1 Introduction      
 7.2 Ports       
 7.3 Ships       
 7.4 Cargo       
         
8 Global Connected Ships Market, By Installation    
 8.1 Introduction      
 8.2 Onshore       
 8.3 Onboard       
         
9 Global Connected Ships Market, By Application    
 9.1 Introduction      
 9.2 Fleet Health Monitoring     
 9.3 Vessel Traffic Management     
 9.4 Fleet Operation      
 9.5 Other Applications      
         
10 Global Connected Ships 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 ABB Ltd.     
 12.2 Schneider Electric SE     
 12.3 Rockwell Automation Inc.     
 12.4 General Electric Company    
 12.5 Northrop Grumman Corporation
 12.6 Emerson Electric Co.     
 12.7 Valmet Oyj    
 12.8 Kongsberg Gruppen ASA     
 12.9 Wartsila Corporation     
 12.10 Marlink AS      
 12.11 Atos SE       
 12.12 Synectics Global      
 12.13 Ulstein Group ASA      
 12.14 Hyundai Heavy Industries (HHI)    
 12.15 Jason       
 12.16 Mitsubishi Heavy Industries Group    
 12.17 RH Marine      
 12.18 Honeywell International Inc.     
 12.19 Siemens AG      
 12.20 Rolls-Royce Holdings plc     

         
List of Tables        
1 Global Connected Ships Market Outlook, By Region (2021-2030) ($MN)  
2 Global Connected Ships Market Outlook, By Ship Type (2021-2030) ($MN) 
3 Global Connected Ships Market Outlook, By Defense (2021-2030) ($MN)  
4 Global Connected Ships Market Outlook, By Commercial (2021-2030) ($MN) 
5 Global Connected Ships Market Outlook, By Fit (2021-2030) ($MN)  
6 Global Connected Ships Market Outlook, By Line Fit (2021-2030) ($MN)  
7 Global Connected Ships Market Outlook, By Hybrid Fit (2021-2030) ($MN) 
8 Global Connected Ships Market Outlook, By Retrofit (2021-2030) ($MN)  
9 Global Connected Ships Market Outlook, By Platform (2021-2030) ($MN)  
10 Global Connected Ships Market Outlook, By Ports (2021-2030) ($MN)  
11 Global Connected Ships Market Outlook, By Ships (2021-2030) ($MN)  
12 Global Connected Ships Market Outlook, By Cargo (2021-2030) ($MN)  
13 Global Connected Ships Market Outlook, By Installation (2021-2030) ($MN) 
14 Global Connected Ships Market Outlook, By Onshore (2021-2030) ($MN)  
15 Global Connected Ships Market Outlook, By Onboard (2021-2030) ($MN)  
16 Global Connected Ships Market Outlook, By Application (2021-2030) ($MN) 
17 Global Connected Ships Market Outlook, By Fleet Health Monitoring (2021-2030) ($MN)
18 Global Connected Ships Market Outlook, By Vessel Traffic Management (2021-2030) ($MN)
19 Global Connected Ships Market Outlook, By Fleet Operation (2021-2030) ($MN) 
20 Global Connected Ships Market Outlook, By Other Applications (2021-2030) ($MN) 
21 North America Connected Ships Market Outlook, By Country (2021-2030) ($MN) 
22 North America Connected Ships Market Outlook, By Ship Type (2021-2030) ($MN) 
23 North America Connected Ships Market Outlook, By Defense (2021-2030) ($MN) 
24 North America Connected Ships Market Outlook, By Commercial (2021-2030) ($MN)
25 North America Connected Ships Market Outlook, By Fit (2021-2030) ($MN) 
26 North America Connected Ships Market Outlook, By Line Fit (2021-2030) ($MN) 
27 North America Connected Ships Market Outlook, By Hybrid Fit (2021-2030) ($MN) 
28 North America Connected Ships Market Outlook, By Retrofit (2021-2030) ($MN) 
29 North America Connected Ships Market Outlook, By Platform (2021-2030) ($MN) 
30 North America Connected Ships Market Outlook, By Ports (2021-2030) ($MN) 
31 North America Connected Ships Market Outlook, By Ships (2021-2030) ($MN) 
32 North America Connected Ships Market Outlook, By Cargo (2021-2030) ($MN) 
33 North America Connected Ships Market Outlook, By Installation (2021-2030) ($MN) 
34 North America Connected Ships Market Outlook, By Onshore (2021-2030) ($MN) 
35 North America Connected Ships Market Outlook, By Onboard (2021-2030) ($MN) 
36 North America Connected Ships Market Outlook, By Application (2021-2030) ($MN)
37 North America Connected Ships Market Outlook, By Fleet Health Monitoring (2021-2030) ($MN)
38 North America Connected Ships Market Outlook, By Vessel Traffic Management (2021-2030) ($MN)
39 North America Connected Ships Market Outlook, By Fleet Operation (2021-2030) ($MN)
40 North America Connected Ships Market Outlook, By Other Applications (2021-2030) ($MN)
41 Europe Connected Ships Market Outlook, By Country (2021-2030) ($MN)  
42 Europe Connected Ships Market Outlook, By Ship Type (2021-2030) ($MN) 
43 Europe Connected Ships Market Outlook, By Defense (2021-2030) ($MN)  
44 Europe Connected Ships Market Outlook, By Commercial (2021-2030) ($MN) 
45 Europe Connected Ships Market Outlook, By Fit (2021-2030) ($MN)  
46 Europe Connected Ships Market Outlook, By Line Fit (2021-2030) ($MN)  
47 Europe Connected Ships Market Outlook, By Hybrid Fit (2021-2030) ($MN) 
48 Europe Connected Ships Market Outlook, By Retrofit (2021-2030) ($MN)  
49 Europe Connected Ships Market Outlook, By Platform (2021-2030) ($MN) 
50 Europe Connected Ships Market Outlook, By Ports (2021-2030) ($MN)  
51 Europe Connected Ships Market Outlook, By Ships (2021-2030) ($MN)  
52 Europe Connected Ships Market Outlook, By Cargo (2021-2030) ($MN)  
53 Europe Connected Ships Market Outlook, By Installation (2021-2030) ($MN) 
54 Europe Connected Ships Market Outlook, By Onshore (2021-2030) ($MN) 
55 Europe Connected Ships Market Outlook, By Onboard (2021-2030) ($MN) 
56 Europe Connected Ships Market Outlook, By Application (2021-2030) ($MN) 
57 Europe Connected Ships Market Outlook, By Fleet Health Monitoring (2021-2030) ($MN)
58 Europe Connected Ships Market Outlook, By Vessel Traffic Management (2021-2030) ($MN)
59 Europe Connected Ships Market Outlook, By Fleet Operation (2021-2030) ($MN) 
60 Europe Connected Ships Market Outlook, By Other Applications (2021-2030) ($MN) 
61 Asia Pacific Connected Ships Market Outlook, By Country (2021-2030) ($MN) 
62 Asia Pacific Connected Ships Market Outlook, By Ship Type (2021-2030) ($MN) 
63 Asia Pacific Connected Ships Market Outlook, By Defense (2021-2030) ($MN) 
64 Asia Pacific Connected Ships Market Outlook, By Commercial (2021-2030) ($MN) 
65 Asia Pacific Connected Ships Market Outlook, By Fit (2021-2030) ($MN)  
66 Asia Pacific Connected Ships Market Outlook, By Line Fit (2021-2030) ($MN) 
67 Asia Pacific Connected Ships Market Outlook, By Hybrid Fit (2021-2030) ($MN) 
68 Asia Pacific Connected Ships Market Outlook, By Retrofit (2021-2030) ($MN) 
69 Asia Pacific Connected Ships Market Outlook, By Platform (2021-2030) ($MN) 
70 Asia Pacific Connected Ships Market Outlook, By Ports (2021-2030) ($MN) 
71 Asia Pacific Connected Ships Market Outlook, By Ships (2021-2030) ($MN) 
72 Asia Pacific Connected Ships Market Outlook, By Cargo (2021-2030) ($MN) 
73 Asia Pacific Connected Ships Market Outlook, By Installation (2021-2030) ($MN) 
74 Asia Pacific Connected Ships Market Outlook, By Onshore (2021-2030) ($MN) 
75 Asia Pacific Connected Ships Market Outlook, By Onboard (2021-2030) ($MN) 
76 Asia Pacific Connected Ships Market Outlook, By Application (2021-2030) ($MN) 
77 Asia Pacific Connected Ships Market Outlook, By Fleet Health Monitoring (2021-2030) ($MN)
78 Asia Pacific Connected Ships Market Outlook, By Vessel Traffic Management (2021-2030) ($MN)
79 Asia Pacific Connected Ships Market Outlook, By Fleet Operation (2021-2030) ($MN)
80 Asia Pacific Connected Ships Market Outlook, By Other Applications (2021-2030) ($MN)
81 South America Connected Ships Market Outlook, By Country (2021-2030) ($MN) 
82 South America Connected Ships Market Outlook, By Ship Type (2021-2030) ($MN) 
83 South America Connected Ships Market Outlook, By Defense (2021-2030) ($MN) 
84 South America Connected Ships Market Outlook, By Commercial (2021-2030) ($MN)
85 South America Connected Ships Market Outlook, By Fit (2021-2030) ($MN) 
86 South America Connected Ships Market Outlook, By Line Fit (2021-2030) ($MN) 
87 South America Connected Ships Market Outlook, By Hybrid Fit (2021-2030) ($MN) 
88 South America Connected Ships Market Outlook, By Retrofit (2021-2030) ($MN) 
89 South America Connected Ships Market Outlook, By Platform (2021-2030) ($MN) 
90 South America Connected Ships Market Outlook, By Ports (2021-2030) ($MN) 
91 South America Connected Ships Market Outlook, By Ships (2021-2030) ($MN) 
92 South America Connected Ships Market Outlook, By Cargo (2021-2030) ($MN) 
93 South America Connected Ships Market Outlook, By Installation (2021-2030) ($MN) 
94 South America Connected Ships Market Outlook, By Onshore (2021-2030) ($MN) 
95 South America Connected Ships Market Outlook, By Onboard (2021-2030) ($MN) 
96 South America Connected Ships Market Outlook, By Application (2021-2030) ($MN)
97 South America Connected Ships Market Outlook, By Fleet Health Monitoring (2021-2030) ($MN)
98 South America Connected Ships Market Outlook, By Vessel Traffic Management (2021-2030) ($MN)
99 South America Connected Ships Market Outlook, By Fleet Operation (2021-2030) ($MN)
100 South America Connected Ships Market Outlook, By Other Applications (2021-2030) ($MN)
101 Middle East & Africa Connected Ships Market Outlook, By Country (2021-2030) ($MN)
102 Middle East & Africa Connected Ships Market Outlook, By Ship Type (2021-2030) ($MN)
103 Middle East & Africa Connected Ships Market Outlook, By Defense (2021-2030) ($MN)
104 Middle East & Africa Connected Ships Market Outlook, By Commercial (2021-2030) ($MN)
105 Middle East & Africa Connected Ships Market Outlook, By Fit (2021-2030) ($MN) 
106 Middle East & Africa Connected Ships Market Outlook, By Line Fit (2021-2030) ($MN)
107 Middle East & Africa Connected Ships Market Outlook, By Hybrid Fit (2021-2030) ($MN)
108 Middle East & Africa Connected Ships Market Outlook, By Retrofit (2021-2030) ($MN)
109 Middle East & Africa Connected Ships Market Outlook, By Platform (2021-2030) ($MN)
110 Middle East & Africa Connected Ships Market Outlook, By Ports (2021-2030) ($MN) 
111 Middle East & Africa Connected Ships Market Outlook, By Ships (2021-2030) ($MN) 
112 Middle East & Africa Connected Ships Market Outlook, By Cargo (2021-2030) ($MN) 
113 Middle East & Africa Connected Ships Market Outlook, By Installation (2021-2030) ($MN)
114 Middle East & Africa Connected Ships Market Outlook, By Onshore (2021-2030) ($MN)
115 Middle East & Africa Connected Ships Market Outlook, By Onboard (2021-2030) ($MN)
116 Middle East & Africa Connected Ships Market Outlook, By Application (2021-2030) ($MN)
117 Middle East & Africa Connected Ships Market Outlook, By Fleet Health Monitoring (2021-2030) ($MN)
118 Middle East & Africa Connected Ships Market Outlook, By Vessel Traffic Management (2021-2030) ($MN)
119 Middle East & Africa Connected Ships Market Outlook, By Fleet Operation (2021-2030) ($MN)
120 Middle East & Africa Connected Ships Market Outlook, By Other Applications (2021-2030) ($MN)

List of Figures

RESEARCH METHODOLOGY


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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