Dc Motor Control Devices Market
DC Motor Control Devices Market Forecasts to 2030 - Global Analysis By Type (Brushed, Brushless and Stepper), Power Rating (Low Voltage - below 24V, Medium Voltage - from 24V to 600V and High Voltage - Above 600V), Technology, Application, and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $1,092.21 MN |
|
Projected Year Value (2030) |
US $2,022.40 MN |
|
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 DC Motor Control Devices Market is accounted for $1,092.21 million in 2023 and is expected to reach $2,022.40 million by 2030 growing at a CAGR of 9.2% during the forecast period. A DC motor control is a device with batteries, microcontrollers, and engines at the same time. These devices play a crucial role in governing the speed, direction, torque, and overall performance of DC motors across various industrial, commercial, and consumer applications. They ensure precise control and efficient utilisation of electrical energy in motor-driven systems.
According to the International Trade Administration, domestic vehicle production in China is expected to reach 35 million by year 2025.
Market Dynamics:
Driver:
Demand for DC motor control devices
Industries relying on automation, such as manufacturing, automotive, and electronics, create a continual need for precise and efficient motor control. Additionally, the rise in electric vehicle production and the demand for energy-efficient solutions further propel this market. As technological advancements continue to enhance these devices' performance and efficiency, the growing global demand from various sectors significantly influences the market's growth trajectory and fosters innovation in DC motor control technology.
Restraint:
High initial investment
Implementing DC motor control devices systems requires substantial upfront capital for equipment, installation, and specialised training. This financial barrier particularly affects small to medium-sized enterprises (SMEs) or industries with limited budgets, impeding their ability to adopt or upgrade to DC motor control solutions. The substantial initial costs often deter potential users, hindering widespread adoption and potentially limiting market growth.
Opportunity:
Integration of DC motor control devices into smart devices
As smart technology continues to proliferate across various sectors, including homes, industries, and IoT ecosystems, DC motor control devices play a pivotal role. They enable precise control and automation of smart home appliances, robotics, IoT-enabled systems, and other interconnected devices. This integration not only enhances efficiency and performance but also opens up new market segments and applications, fostering innovation and market expansion for DC motor control devices amidst the growing demand for interconnected and intelligent devices in modern lifestyles.
Threat:
Fluctuations in raw material prices
Fluctuations in the prices of essential components like rare-earth magnets, copper, and specific metals impact manufacturing costs. Sudden price hikes may escalate production expenses, potentially compelling manufacturers to increase product prices. Such cost increases can deter consumer adoption and strain profit margins for businesses. Maintaining price competitiveness becomes challenging amid uncertain raw material costs, affecting market stability and potentially hindering the widespread adoption of DC motor control devices across industries.
Covid-19 Impact
The COVID-19 pandemic significantly impacted the DC motor control device market. Supply chain disruptions, production halts, and reduced industrial activities during lockdowns led to decreased demand for these devices across various sectors, notably automotive and manufacturing. Delays in project timelines and investment cutbacks within industries affected the adoption of motor control devices. However, the crisis also accelerated digital transformation and automation, increasing the long-term demand for these devices, particularly in sectors emphasising efficiency and automation.
The brushed segment is expected to be the largest during the forecast period
The brushed segment is estimated to hold the largest share. These motors feature brushes and a commutator for delivering electrical current to the motor windings, facilitating rotor movement. Despite their simplicity and cost-effectiveness, brushed DC motors are known for lower efficiency, a limited lifespan due to brush wear, and electromagnetic interference. However, they find applications in smaller-scale devices, toys, automotive systems, and appliances where precise speed control isn't a priority, offering simplicity and affordability for specific applications requiring less complex motor control solutions.
The automotive & transportation segment is expected to have the highest CAGR during the forecast period
The automotive & transportation segment is anticipated to have lucrative growth during the forecast period. The DC Motor Control Devices Market encompasses control devices tailored for vehicles to manage and regulate the operation of DC motors in automotive systems, including electric power steering, electric braking systems, HVAC (heating, ventilation, and air conditioning), and various automotive actuators. As the automotive industry shifts towards electrification and smart vehicle technologies, the demand for advanced DC motor control devices in the automotive and transportation sectors continues to grow, driving innovation and technological advancements within this segment.
Region with largest share:
Asia Pacific commanded the largest market share during the extrapolated period due to industrialization, infrastructure development, and technological advancements. Countries like China, India, Japan, and Southeast Asian nations witness increased demand for DC motor control devices due to expanding manufacturing sectors, automation initiatives, and the adoption of electric vehicles. Furthermore, the market growth is propelled by the rising need for efficient motor control in various industries, such as automotive, electronics, and energy. Government initiatives supporting industrial automation and energy-efficient solutions further boost market expansion.
Region with highest CAGR:
North America is expected to witness profitable growth over the projection period due to technological advancements and industrial automation. Technological innovation, particularly in robotics and electric vehicles, escalates the need for efficient motor control solutions. The market benefits from stringent regulations emphasising energy efficiency and encouraging the adoption of advanced motor control devices. Additionally, the region's focus on sustainability and renewable energy further stimulates market growth, fostering a competitive landscape and continual advancements within the North American region.
Key players in the market
Some of the key players in the DC Motor Control Devices Market include ABB, General Electric, Eaton Corporation Plc, OMRON Corporation, Rockwell Automatic, KB Electronics, Schneider Electric SE, Toshiba Corporation, STMicroelectronics, Siemens AG, Mitsubishi Electric Corporation, Danfoss Group, Yaskawa Electric Corporation, Parker Hannifin Corporation and Nidec Corporation.
Key Developments:
In September 2023, Rockwell Automation, Inc. acquired Clearpath Robotics Inc., an Automation machinery manufacturing company in Canada. Through this acquisition, Rockwell Automation would enhance autonomous technology.
In April 2023, Omron Corporation has introduced the NX502 automation controllers, featuring enhanced information and safety control capabilities. Omron's latest NX502 CPU and NX-EIP201 EtherNet/IP units leverage the company's innovative information processing, communication technologies, and expansive memory capacity to enable real-time analysis and modularization of processes.
In October 2022, Omron Corporation came into partnership with Conrad Electronic, a European multinational retailer of electronic products based in Hirschau, Germany. Through this partnership, Omron Corporation would provide its solutions and services throughout Europe.
Types Covered:
• Brushed
• Brushless
• Stepper
Power Ratings Covered:
• Low Voltage - below 24V
• Medium Voltage - from 24V to 600V
• High Voltage - Above 600V
Technologies Covered:
• Analog Control Devices
• Digital Control Devices
Applications Covered:
• Consumer Electronics
• Industrial
• Automotive & Transportation
• Aerospace and Defense
• Healthcare
• 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 DC Motor Control Devices Market, By Type
5.1 Introduction
5.2 Brushed
5.3 Brushless
5.4 Stepper
6 Global DC Motor Control Devices Market, By Power Rating
6.1 Introduction
6.2 Low Voltage - below 24V
6.3 Medium Voltage - from 24V to 600V
6.4 High Voltage - Above 600V
7 Global DC Motor Control Devices Market, By Technology
7.1 Introduction
7.2 Analog Control Devices
7.3 Digital Control Devices
8 Global DC Motor Control Devices Market, By Application
8.1 Introduction
8.2 Consumer Electronics
8.3 Industrial
8.4 Automotive & Transportation
8.5 Aerospace and Defense
8.6 Healthcare
8.7 Other Applications
9 Global DC Motor Control Devices 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 ABB
13.2 General Electric
13.3 Eaton Corporation Plc
13.4 OMRON Corporation
13.5 Rockwell Automatic
13.6 KB Electronics
13.7 Schneider Electric SE
13.8 Toshiba Corporation
13.9 STMicroelectronics
13.10 Siemens AG
13.11 Mitsubishi Electric Corporation
13.12 Danfoss Group
13.13 Yaskawa Electric Corporation
13.14 Parker Hannifin Corporation
13.15 Nidec Corporation
List of Tables
1 Global DC Motor Control Devices Market Outlook, By Region (2021-2030) ($MN)
2 Global DC Motor Control Devices Market Outlook, By Type (2021-2030) ($MN)
3 Global DC Motor Control Devices Market Outlook, By Brushed (2021-2030) ($MN)
4 Global DC Motor Control Devices Market Outlook, By Brushless (2021-2030) ($MN)
5 Global DC Motor Control Devices Market Outlook, By Stepper (2021-2030) ($MN)
6 Global DC Motor Control Devices Market Outlook, By Power Rating (2021-2030) ($MN)
7 Global DC Motor Control Devices Market Outlook, By Low Voltage - below 24V (2021-2030) ($MN)
8 Global DC Motor Control Devices Market Outlook, By Medium Voltage - from 24V to 600V (2021-2030) ($MN)
9 Global DC Motor Control Devices Market Outlook, By High Voltage - Above 600V (2021-2030) ($MN)
10 Global DC Motor Control Devices Market Outlook, By Technology (2021-2030) ($MN)
11 Global DC Motor Control Devices Market Outlook, By Analog Control Devices (2021-2030) ($MN)
12 Global DC Motor Control Devices Market Outlook, By Digital Control Devices (2021-2030) ($MN)
13 Global DC Motor Control Devices Market Outlook, By Application (2021-2030) ($MN)
14 Global DC Motor Control Devices Market Outlook, By Consumer Electronics (2021-2030) ($MN)
15 Global DC Motor Control Devices Market Outlook, By Industrial (2021-2030) ($MN)
16 Global DC Motor Control Devices Market Outlook, By Automotive & Transportation (2021-2030) ($MN)
17 Global DC Motor Control Devices Market Outlook, By Aerospace and Defense (2021-2030) ($MN)
18 Global DC Motor Control Devices Market Outlook, By Healthcare (2021-2030) ($MN)
19 Global DC Motor Control Devices Market Outlook, By Other Applications (2021-2030) ($MN)
20 North America DC Motor Control Devices Market Outlook, By Country (2021-2030) ($MN)
21 North America DC Motor Control Devices Market Outlook, By Type (2021-2030) ($MN)
22 North America DC Motor Control Devices Market Outlook, By Brushed (2021-2030) ($MN)
23 North America DC Motor Control Devices Market Outlook, By Brushless (2021-2030) ($MN)
24 North America DC Motor Control Devices Market Outlook, By Stepper (2021-2030) ($MN)
25 North America DC Motor Control Devices Market Outlook, By Power Rating (2021-2030) ($MN)
26 North America DC Motor Control Devices Market Outlook, By Low Voltage - below 24V (2021-2030) ($MN)
27 North America DC Motor Control Devices Market Outlook, By Medium Voltage - from 24V to 600V (2021-2030) ($MN)
28 North America DC Motor Control Devices Market Outlook, By High Voltage - Above 600V (2021-2030) ($MN)
29 North America DC Motor Control Devices Market Outlook, By Technology (2021-2030) ($MN)
30 North America DC Motor Control Devices Market Outlook, By Analog Control Devices (2021-2030) ($MN)
31 North America DC Motor Control Devices Market Outlook, By Digital Control Devices (2021-2030) ($MN)
32 North America DC Motor Control Devices Market Outlook, By Application (2021-2030) ($MN)
33 North America DC Motor Control Devices Market Outlook, By Consumer Electronics (2021-2030) ($MN)
34 North America DC Motor Control Devices Market Outlook, By Industrial (2021-2030) ($MN)
35 North America DC Motor Control Devices Market Outlook, By Automotive & Transportation (2021-2030) ($MN)
36 North America DC Motor Control Devices Market Outlook, By Aerospace and Defense (2021-2030) ($MN)
37 North America DC Motor Control Devices Market Outlook, By Healthcare (2021-2030) ($MN)
38 North America DC Motor Control Devices Market Outlook, By Other Applications (2021-2030) ($MN)
39 Europe DC Motor Control Devices Market Outlook, By Country (2021-2030) ($MN)
40 Europe DC Motor Control Devices Market Outlook, By Type (2021-2030) ($MN)
41 Europe DC Motor Control Devices Market Outlook, By Brushed (2021-2030) ($MN)
42 Europe DC Motor Control Devices Market Outlook, By Brushless (2021-2030) ($MN)
43 Europe DC Motor Control Devices Market Outlook, By Stepper (2021-2030) ($MN)
44 Europe DC Motor Control Devices Market Outlook, By Power Rating (2021-2030) ($MN)
45 Europe DC Motor Control Devices Market Outlook, By Low Voltage - below 24V (2021-2030) ($MN)
46 Europe DC Motor Control Devices Market Outlook, By Medium Voltage - from 24V to 600V (2021-2030) ($MN)
47 Europe DC Motor Control Devices Market Outlook, By High Voltage - Above 600V (2021-2030) ($MN)
48 Europe DC Motor Control Devices Market Outlook, By Technology (2021-2030) ($MN)
49 Europe DC Motor Control Devices Market Outlook, By Analog Control Devices (2021-2030) ($MN)
50 Europe DC Motor Control Devices Market Outlook, By Digital Control Devices (2021-2030) ($MN)
51 Europe DC Motor Control Devices Market Outlook, By Application (2021-2030) ($MN)
52 Europe DC Motor Control Devices Market Outlook, By Consumer Electronics (2021-2030) ($MN)
53 Europe DC Motor Control Devices Market Outlook, By Industrial (2021-2030) ($MN)
54 Europe DC Motor Control Devices Market Outlook, By Automotive & Transportation (2021-2030) ($MN)
55 Europe DC Motor Control Devices Market Outlook, By Aerospace and Defense (2021-2030) ($MN)
56 Europe DC Motor Control Devices Market Outlook, By Healthcare (2021-2030) ($MN)
57 Europe DC Motor Control Devices Market Outlook, By Other Applications (2021-2030) ($MN)
58 Asia Pacific DC Motor Control Devices Market Outlook, By Country (2021-2030) ($MN)
59 Asia Pacific DC Motor Control Devices Market Outlook, By Type (2021-2030) ($MN)
60 Asia Pacific DC Motor Control Devices Market Outlook, By Brushed (2021-2030) ($MN)
61 Asia Pacific DC Motor Control Devices Market Outlook, By Brushless (2021-2030) ($MN)
62 Asia Pacific DC Motor Control Devices Market Outlook, By Stepper (2021-2030) ($MN)
63 Asia Pacific DC Motor Control Devices Market Outlook, By Power Rating (2021-2030) ($MN)
64 Asia Pacific DC Motor Control Devices Market Outlook, By Low Voltage - below 24V (2021-2030) ($MN)
65 Asia Pacific DC Motor Control Devices Market Outlook, By Medium Voltage - from 24V to 600V (2021-2030) ($MN)
66 Asia Pacific DC Motor Control Devices Market Outlook, By High Voltage - Above 600V (2021-2030) ($MN)
67 Asia Pacific DC Motor Control Devices Market Outlook, By Technology (2021-2030) ($MN)
68 Asia Pacific DC Motor Control Devices Market Outlook, By Analog Control Devices (2021-2030) ($MN)
69 Asia Pacific DC Motor Control Devices Market Outlook, By Digital Control Devices (2021-2030) ($MN)
70 Asia Pacific DC Motor Control Devices Market Outlook, By Application (2021-2030) ($MN)
71 Asia Pacific DC Motor Control Devices Market Outlook, By Consumer Electronics (2021-2030) ($MN)
72 Asia Pacific DC Motor Control Devices Market Outlook, By Industrial (2021-2030) ($MN)
73 Asia Pacific DC Motor Control Devices Market Outlook, By Automotive & Transportation (2021-2030) ($MN)
74 Asia Pacific DC Motor Control Devices Market Outlook, By Aerospace and Defense (2021-2030) ($MN)
75 Asia Pacific DC Motor Control Devices Market Outlook, By Healthcare (2021-2030) ($MN)
76 Asia Pacific DC Motor Control Devices Market Outlook, By Other Applications (2021-2030) ($MN)
77 South America DC Motor Control Devices Market Outlook, By Country (2021-2030) ($MN)
78 South America DC Motor Control Devices Market Outlook, By Type (2021-2030) ($MN)
79 South America DC Motor Control Devices Market Outlook, By Brushed (2021-2030) ($MN)
80 South America DC Motor Control Devices Market Outlook, By Brushless (2021-2030) ($MN)
81 South America DC Motor Control Devices Market Outlook, By Stepper (2021-2030) ($MN)
82 South America DC Motor Control Devices Market Outlook, By Power Rating (2021-2030) ($MN)
83 South America DC Motor Control Devices Market Outlook, By Low Voltage - below 24V (2021-2030) ($MN)
84 South America DC Motor Control Devices Market Outlook, By Medium Voltage - from 24V to 600V (2021-2030) ($MN)
85 South America DC Motor Control Devices Market Outlook, By High Voltage - Above 600V (2021-2030) ($MN)
86 South America DC Motor Control Devices Market Outlook, By Technology (2021-2030) ($MN)
87 South America DC Motor Control Devices Market Outlook, By Analog Control Devices (2021-2030) ($MN)
88 South America DC Motor Control Devices Market Outlook, By Digital Control Devices (2021-2030) ($MN)
89 South America DC Motor Control Devices Market Outlook, By Application (2021-2030) ($MN)
90 South America DC Motor Control Devices Market Outlook, By Consumer Electronics (2021-2030) ($MN)
91 South America DC Motor Control Devices Market Outlook, By Industrial (2021-2030) ($MN)
92 South America DC Motor Control Devices Market Outlook, By Automotive & Transportation (2021-2030) ($MN)
93 South America DC Motor Control Devices Market Outlook, By Aerospace and Defense (2021-2030) ($MN)
94 South America DC Motor Control Devices Market Outlook, By Healthcare (2021-2030) ($MN)
95 South America DC Motor Control Devices Market Outlook, By Other Applications (2021-2030) ($MN)
96 Middle East & Africa DC Motor Control Devices Market Outlook, By Country (2021-2030) ($MN)
97 Middle East & Africa DC Motor Control Devices Market Outlook, By Type (2021-2030) ($MN)
98 Middle East & Africa DC Motor Control Devices Market Outlook, By Brushed (2021-2030) ($MN)
99 Middle East & Africa DC Motor Control Devices Market Outlook, By Brushless (2021-2030) ($MN)
100 Middle East & Africa DC Motor Control Devices Market Outlook, By Stepper (2021-2030) ($MN)
101 Middle East & Africa DC Motor Control Devices Market Outlook, By Power Rating (2021-2030) ($MN)
102 Middle East & Africa DC Motor Control Devices Market Outlook, By Low Voltage - below 24V (2021-2030) ($MN)
103 Middle East & Africa DC Motor Control Devices Market Outlook, By Medium Voltage - from 24V to 600V (2021-2030) ($MN)
104 Middle East & Africa DC Motor Control Devices Market Outlook, By High Voltage - Above 600V (2021-2030) ($MN)
105 Middle East & Africa DC Motor Control Devices Market Outlook, By Technology (2021-2030) ($MN)
106 Middle East & Africa DC Motor Control Devices Market Outlook, By Analog Control Devices (2021-2030) ($MN)
107 Middle East & Africa DC Motor Control Devices Market Outlook, By Digital Control Devices (2021-2030) ($MN)
108 Middle East & Africa DC Motor Control Devices Market Outlook, By Application (2021-2030) ($MN)
109 Middle East & Africa DC Motor Control Devices Market Outlook, By Consumer Electronics (2021-2030) ($MN)
110 Middle East & Africa DC Motor Control Devices Market Outlook, By Industrial (2021-2030) ($MN)
111 Middle East & Africa DC Motor Control Devices Market Outlook, By Automotive & Transportation (2021-2030) ($MN)
112 Middle East & Africa DC Motor Control Devices Market Outlook, By Aerospace and Defense (2021-2030) ($MN)
113 Middle East & Africa DC Motor Control Devices Market Outlook, By Healthcare (2021-2030) ($MN)
114 Middle East & Africa DC Motor Control Devices Market Outlook, By Other Applications (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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