Digital Phase Rotation Meters Market
Digital Phase Rotation Meters Market Forecasts to 2030 - Global Analysis By Type (Handheld Digital Phase Rotation Meters, DIN Rail-Mounted Digital Phase Rotation Meters, Wireless Digital Phase Rotation Meters, Industrial-Grade Digital Phase Rotation Meters, High-Resolution Digital Phase Rotation Meters and Other Types), By Application (Electrical Installations, HVAC Systems, Energy Auditing, Agricultural Operations, Telecommunications, Education and Training and Other Applications) and By Geography
|
Years Covered |
2021-2030 |
|
CAGR (2023 - 2030) |
5.2% |
|
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 |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Digital Phase Rotation Meters Market is growing at a CAGR of 5.2% during the forecast period. Digital Phase Rotation Meters are electrical testing devices used to determine the phase sequence and rotation direction in three-phase electrical systems. They ensure the correct alignment of electrical connections, preventing equipment damage and hazardous conditions. Advantages include fast, accurate readings, portability, and ease of use, making them essential for electricians, technicians, and maintenance personnel during installation, troubleshooting, and routine maintenance in residential, commercial, and industrial applications.
Market Dynamics:
Driver:
Rising demand for energy efficiency
As industries and businesses increasingly focus on reducing energy consumption and optimizing power distribution, the correct phasing of electrical systems is essential. Phase rotation meters play a pivotal role in ensuring that motors and equipment operate efficiently, reducing energy waste and operational costs. Moreover, precise phase sequencing enhances the reliability of electrical systems, minimizing downtime and equipment wear. With energy efficiency being global imperative and stringent regulations in place, the demand for phase rotation meters continues to grow as they contribute to sustainability, cost savings, and uninterrupted operations in various sectors.
Restraint:
High initial costs
While these meters offer essential functionality for ensuring electrical safety and efficiency, their upfront purchase price can be a barrier, particularly for small and budget-conscious customers. The cost can be a deterrent for individuals, smaller businesses, and organizations with limited financial resources. This price sensitivity may lead potential users to opt for lower-cost alternatives or delay investments in advanced digital phase rotation meters. Manufacturers and suppliers in the market need to address this challenge by offering cost-effective options, financing solutions, and emphasizing the long-term cost savings and safety benefits of these devices to make them more accessible and attractive to a broader range of customers.
Opportunity:
Increased awareness of electrical safety
With a growing emphasis on safeguarding personnel and equipment, there is a heightened demand for tools that ensure electrical systems are correctly phased to prevent accidents and hazards. Phase rotation meters play a crucial role in this by verifying proper phase sequencing. As industries, businesses, and individuals become more conscious of electrical safety, there is a burgeoning market for phase rotation meters, both for preventive measures and compliance with safety regulations. This opportunity aligns with the broader goal of creating safer working environments and minimizing electrical-related risks.
Threat:
Limited awareness of the benefits and significance
Many potential users, including individuals and businesses, may not fully grasp the critical role these meters play in ensuring electrical safety, preventing accidents, and optimizing energy efficiency. This lack of awareness can result in a reluctance to invest in these essential tools, potentially compromising safety and efficiency. Manufacturers and industry stakeholders must address this threat by intensifying educational efforts and awareness campaigns to highlight the value of digital phase rotation meters. Enhancing user knowledge and promoting their significance can help overcome this challenge and drive market growth.
Covid-19 Impact:
The COVID-19 pandemic had a mixed impact on the market. While it led to supply chain disruptions, production delays, and economic uncertainties, the need for essential services and infrastructure maintenance remained, supporting the demand for phase rotation meters. The pandemic underscored the importance of electrical safety, particularly in critical facilities like healthcare and data centers, driving interest in these meters. Additionally, the adoption of remote work and the need to ensure reliable power distribution in remote locations further boosted the market. However, economic constraints in some sectors affected investment decisions, leading to a complex and varied impact on the market during the pandemic.
The wireless digital phase rotation meters segment is expected to be the largest during the forecast period
Over the projection period, it is predicted that the wireless digital phase rotation meters segment will experience a larger market size. Offering the convenience of remote monitoring, they have gained significant traction due to their ability to provide real-time data access. These meters enable technicians and professionals to assess phase sequence and rotation from a distance, enhancing safety and efficiency in various industries. The wireless feature is particularly valuable in scenarios where accessing equipment for testing is challenging, such as in large industrial setups or remote locations. This technology aligns with the increasing trend toward connectivity and data accessibility, making wireless digital phase rotation meters a key driver of market growth.
The electrical installations segment is expected to have the highest CAGR during the forecast period
During the forecast period, it is expected that the electrical installations segment will experience lucrative growth. These meters are indispensable for ensuring safe and accurate electrical connections during the installation of various electrical systems. Electricians and technicians rely on them to confirm the correct phase sequence, preventing equipment damage and hazardous conditions. Whether it's in residential, commercial, or industrial settings, phase rotation meters play a pivotal role in certifying the integrity of electrical installations. They serve as a fundamental tool for reducing the risk of wiring errors, enhancing electrical safety, and assuring that electrical systems are correctly phased for reliable and efficient operation, making them an essential component in any installation toolkit.
Region with largest share:
The North America region is expected to witness largest market share. The region's robust industrial and commercial sectors, coupled with strict safety standards and regulatory compliance, drive the demand for phase rotation meters. In the United States and Canada, these meters are extensively used in construction, manufacturing, and facility management to ensure electrical system safety and efficiency. Additionally, the integration of renewable energy sources and the need for precise phase alignment in energy infrastructure contribute to market growth. As North America continues to prioritize electrical safety and system reliability, the Digital Phase Rotation Meters Market thrives as an essential component of these efforts.
Region with highest CAGR:
During the forecast period, a rapid growth rate is anticipated in the Asia-Pacific region. The region's rapid industrialization, urbanization, and infrastructure development drive the demand for accurate electrical testing equipment. Countries like China and India, with expanding manufacturing and construction sectors, rely on phase rotation meters for safe and efficient electrical systems. Moreover, the integration of renewable energy sources and the increasing awareness of energy efficiency fuel the market's growth. With a focus on electrical safety, regulatory compliance, and reliable power distribution, Asia-Pacific's adoption of phase rotation meters continues to rise, making it a vibrant hub for the market's expansion and technological advancements.
Key players in the market
Some of the key players in Digital Phase Rotation Meters market include Amprobe, Chauvin Arnoux Group, Fluke Corporation, KUSAM-MECO, Kyoritsu Electric Corporation, Martindale Electric, Megger Group, Metrel, Seaward Group, Sonel S.A. and Uni-Trend Technology.
Key Developments:
In August 2023, Chauvin Arnoux Group launched a product CA 6163 electrical devices and electrical switchboards tester checks the safety of electrical devices and electrical switchboards.
In April 2023, Megger acquires the Diagnostic Laboratory business and InsuLogix® monitoring product line of Weidmann Electrical Technology. Weidmann’s highly respected oil analysis laboratory services become part of Megger will operate under the AVO Diagnostic Services name, further strengthening its ability to offer online and off-line asset condition insights to the electrical power industry.
Types Covered:
• Handheld Digital Phase Rotation Meters
• DIN Rail-Mounted Digital Phase Rotation Meters
• Wireless Digital Phase Rotation Meters
• Industrial-Grade Digital Phase Rotation Meters
• High-Resolution Digital Phase Rotation Meters
• Other Types
Applications Covered:
• Electrical Installations
• HVAC (Heating, Ventilation and Air Conditioning) Systems
• Energy Auditing
• Agricultural Operations
• Telecommunications
• Education and Training
• 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 Digital Phase Rotation Meters Market, By Type
5.1 Introduction
5.2 Handheld Digital Phase Rotation Meters
5.3 DIN Rail-Mounted Digital Phase Rotation Meters
5.4 Wireless Digital Phase Rotation Meters
5.5 Industrial-Grade Digital Phase Rotation Meters
5.6 High-Resolution Digital Phase Rotation Meters
5.7 Other Types
6 Global Digital Phase Rotation Meters Market, By Application
6.1 Introduction
6.2 Electrical Installations
6.3 HVAC (Heating, Ventillation and Air Conditiong) Systems
6.4 Energy Auditing
6.5 Agricultural Operations
6.6 Telecommunications
6.7 Education and Training
6.8 Other Applications
7 Global Digital Phase Rotation Meters Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Amprobe
9.2 Chauvin Arnoux Group
9.3 Extech Instruments (a FLIR Systems company)
9.4 Fluke Corporation
9.5 KUSAM-MECO
9.6 Kyoritsu Electric Corporation
9.7 Martindale Electric
9.8 Megger Group
9.9 Metrel
9.10 Seaward Group
9.11 Sonel S.A.
9.12 Uni-Trend Technology
List of Tables
1 Global Digital Phase Rotation Meters Market Outlook, By Region (2021-2030) ($MN)
2 Global Digital Phase Rotation Meters Market Outlook, By Type (2021-2030) ($MN)
3 Global Digital Phase Rotation Meters Market Outlook, By Handheld Digital Phase Rotation Meters (2021-2030) ($MN)
4 Global Digital Phase Rotation Meters Market Outlook, By DIN Rail-Mounted Digital Phase Rotation Meters (2021-2030) ($MN)
5 Global Digital Phase Rotation Meters Market Outlook, By Wireless Digital Phase Rotation Meters (2021-2030) ($MN)
6 Global Digital Phase Rotation Meters Market Outlook, By Industrial-Grade Digital Phase Rotation Meters (2021-2030) ($MN)
7 Global Digital Phase Rotation Meters Market Outlook, By High-Resolution Digital Phase Rotation Meters (2021-2030) ($MN)
8 Global Digital Phase Rotation Meters Market Outlook, By Other Types (2021-2030) ($MN)
9 Global Digital Phase Rotation Meters Market Outlook, By Application (2021-2030) ($MN)
10 Global Digital Phase Rotation Meters Market Outlook, By Electrical Installations (2021-2030) ($MN)
11 Global Digital Phase Rotation Meters Market Outlook, By HVAC (Heating, Ventillation and Air Conditiong) Systems (2021-2030) ($MN)
12 Global Digital Phase Rotation Meters Market Outlook, By Energy Auditing (2021-2030) ($MN)
13 Global Digital Phase Rotation Meters Market Outlook, By Agricultural Operations (2021-2030) ($MN)
14 Global Digital Phase Rotation Meters Market Outlook, By Telecommunications (2021-2030) ($MN)
15 Global Digital Phase Rotation Meters Market Outlook, By Education and Training (2021-2030) ($MN)
16 Global Digital Phase Rotation Meters Market Outlook, By Other Applications (2021-2030) ($MN)
17 North America Digital Phase Rotation Meters Market Outlook, By Country (2021-2030) ($MN)
18 North America Digital Phase Rotation Meters Market Outlook, By Type (2021-2030) ($MN)
19 North America Digital Phase Rotation Meters Market Outlook, By Handheld Digital Phase Rotation Meters (2021-2030) ($MN)
20 North America Digital Phase Rotation Meters Market Outlook, By DIN Rail-Mounted Digital Phase Rotation Meters (2021-2030) ($MN)
21 North America Digital Phase Rotation Meters Market Outlook, By Wireless Digital Phase Rotation Meters (2021-2030) ($MN)
22 North America Digital Phase Rotation Meters Market Outlook, By Industrial-Grade Digital Phase Rotation Meters (2021-2030) ($MN)
23 North America Digital Phase Rotation Meters Market Outlook, By High-Resolution Digital Phase Rotation Meters (2021-2030) ($MN)
24 North America Digital Phase Rotation Meters Market Outlook, By Other Types (2021-2030) ($MN)
25 North America Digital Phase Rotation Meters Market Outlook, By Application (2021-2030) ($MN)
26 North America Digital Phase Rotation Meters Market Outlook, By Electrical Installations (2021-2030) ($MN)
27 North America Digital Phase Rotation Meters Market Outlook, By HVAC (Heating, Ventillation and Air Conditiong) Systems (2021-2030) ($MN)
28 North America Digital Phase Rotation Meters Market Outlook, By Energy Auditing (2021-2030) ($MN)
29 North America Digital Phase Rotation Meters Market Outlook, By Agricultural Operations (2021-2030) ($MN)
30 North America Digital Phase Rotation Meters Market Outlook, By Telecommunications (2021-2030) ($MN)
31 North America Digital Phase Rotation Meters Market Outlook, By Education and Training (2021-2030) ($MN)
32 North America Digital Phase Rotation Meters Market Outlook, By Other Applications (2021-2030) ($MN)
33 Europe Digital Phase Rotation Meters Market Outlook, By Country (2021-2030) ($MN)
34 Europe Digital Phase Rotation Meters Market Outlook, By Type (2021-2030) ($MN)
35 Europe Digital Phase Rotation Meters Market Outlook, By Handheld Digital Phase Rotation Meters (2021-2030) ($MN)
36 Europe Digital Phase Rotation Meters Market Outlook, By DIN Rail-Mounted Digital Phase Rotation Meters (2021-2030) ($MN)
37 Europe Digital Phase Rotation Meters Market Outlook, By Wireless Digital Phase Rotation Meters (2021-2030) ($MN)
38 Europe Digital Phase Rotation Meters Market Outlook, By Industrial-Grade Digital Phase Rotation Meters (2021-2030) ($MN)
39 Europe Digital Phase Rotation Meters Market Outlook, By High-Resolution Digital Phase Rotation Meters (2021-2030) ($MN)
40 Europe Digital Phase Rotation Meters Market Outlook, By Other Types (2021-2030) ($MN)
41 Europe Digital Phase Rotation Meters Market Outlook, By Application (2021-2030) ($MN)
42 Europe Digital Phase Rotation Meters Market Outlook, By Electrical Installations (2021-2030) ($MN)
43 Europe Digital Phase Rotation Meters Market Outlook, By HVAC (Heating, Ventillation and Air Conditiong) Systems (2021-2030) ($MN)
44 Europe Digital Phase Rotation Meters Market Outlook, By Energy Auditing (2021-2030) ($MN)
45 Europe Digital Phase Rotation Meters Market Outlook, By Agricultural Operations (2021-2030) ($MN)
46 Europe Digital Phase Rotation Meters Market Outlook, By Telecommunications (2021-2030) ($MN)
47 Europe Digital Phase Rotation Meters Market Outlook, By Education and Training (2021-2030) ($MN)
48 Europe Digital Phase Rotation Meters Market Outlook, By Other Applications (2021-2030) ($MN)
49 Asia Pacific Digital Phase Rotation Meters Market Outlook, By Country (2021-2030) ($MN)
50 Asia Pacific Digital Phase Rotation Meters Market Outlook, By Type (2021-2030) ($MN)
51 Asia Pacific Digital Phase Rotation Meters Market Outlook, By Handheld Digital Phase Rotation Meters (2021-2030) ($MN)
52 Asia Pacific Digital Phase Rotation Meters Market Outlook, By DIN Rail-Mounted Digital Phase Rotation Meters (2021-2030) ($MN)
53 Asia Pacific Digital Phase Rotation Meters Market Outlook, By Wireless Digital Phase Rotation Meters (2021-2030) ($MN)
54 Asia Pacific Digital Phase Rotation Meters Market Outlook, By Industrial-Grade Digital Phase Rotation Meters (2021-2030) ($MN)
55 Asia Pacific Digital Phase Rotation Meters Market Outlook, By High-Resolution Digital Phase Rotation Meters (2021-2030) ($MN)
56 Asia Pacific Digital Phase Rotation Meters Market Outlook, By Other Types (2021-2030) ($MN)
57 Asia Pacific Digital Phase Rotation Meters Market Outlook, By Application (2021-2030) ($MN)
58 Asia Pacific Digital Phase Rotation Meters Market Outlook, By Electrical Installations (2021-2030) ($MN)
59 Asia Pacific Digital Phase Rotation Meters Market Outlook, By HVAC (Heating, Ventillation and Air Conditiong) Systems (2021-2030) ($MN)
60 Asia Pacific Digital Phase Rotation Meters Market Outlook, By Energy Auditing (2021-2030) ($MN)
61 Asia Pacific Digital Phase Rotation Meters Market Outlook, By Agricultural Operations (2021-2030) ($MN)
62 Asia Pacific Digital Phase Rotation Meters Market Outlook, By Telecommunications (2021-2030) ($MN)
63 Asia Pacific Digital Phase Rotation Meters Market Outlook, By Education and Training (2021-2030) ($MN)
64 Asia Pacific Digital Phase Rotation Meters Market Outlook, By Other Applications (2021-2030) ($MN)
65 South America Digital Phase Rotation Meters Market Outlook, By Country (2021-2030) ($MN)
66 South America Digital Phase Rotation Meters Market Outlook, By Type (2021-2030) ($MN)
67 South America Digital Phase Rotation Meters Market Outlook, By Handheld Digital Phase Rotation Meters (2021-2030) ($MN)
68 South America Digital Phase Rotation Meters Market Outlook, By DIN Rail-Mounted Digital Phase Rotation Meters (2021-2030) ($MN)
69 South America Digital Phase Rotation Meters Market Outlook, By Wireless Digital Phase Rotation Meters (2021-2030) ($MN)
70 South America Digital Phase Rotation Meters Market Outlook, By Industrial-Grade Digital Phase Rotation Meters (2021-2030) ($MN)
71 South America Digital Phase Rotation Meters Market Outlook, By High-Resolution Digital Phase Rotation Meters (2021-2030) ($MN)
72 South America Digital Phase Rotation Meters Market Outlook, By Other Types (2021-2030) ($MN)
73 South America Digital Phase Rotation Meters Market Outlook, By Application (2021-2030) ($MN)
74 South America Digital Phase Rotation Meters Market Outlook, By Electrical Installations (2021-2030) ($MN)
75 South America Digital Phase Rotation Meters Market Outlook, By HVAC (Heating, Ventillation and Air Conditiong) Systems (2021-2030) ($MN)
76 South America Digital Phase Rotation Meters Market Outlook, By Energy Auditing (2021-2030) ($MN)
77 South America Digital Phase Rotation Meters Market Outlook, By Agricultural Operations (2021-2030) ($MN)
78 South America Digital Phase Rotation Meters Market Outlook, By Telecommunications (2021-2030) ($MN)
79 South America Digital Phase Rotation Meters Market Outlook, By Education and Training (2021-2030) ($MN)
80 South America Digital Phase Rotation Meters Market Outlook, By Other Applications (2021-2030) ($MN)
81 Middle East & Africa Digital Phase Rotation Meters Market Outlook, By Country (2021-2030) ($MN)
82 Middle East & Africa Digital Phase Rotation Meters Market Outlook, By Type (2021-2030) ($MN)
83 Middle East & Africa Digital Phase Rotation Meters Market Outlook, By Handheld Digital Phase Rotation Meters (2021-2030) ($MN)
84 Middle East & Africa Digital Phase Rotation Meters Market Outlook, By DIN Rail-Mounted Digital Phase Rotation Meters (2021-2030) ($MN)
85 Middle East & Africa Digital Phase Rotation Meters Market Outlook, By Wireless Digital Phase Rotation Meters (2021-2030) ($MN)
86 Middle East & Africa Digital Phase Rotation Meters Market Outlook, By Industrial-Grade Digital Phase Rotation Meters (2021-2030) ($MN)
87 Middle East & Africa Digital Phase Rotation Meters Market Outlook, By High-Resolution Digital Phase Rotation Meters (2021-2030) ($MN)
88 Middle East & Africa Digital Phase Rotation Meters Market Outlook, By Other Types (2021-2030) ($MN)
89 Middle East & Africa Digital Phase Rotation Meters Market Outlook, By Application (2021-2030) ($MN)
90 Middle East & Africa Digital Phase Rotation Meters Market Outlook, By Electrical Installations (2021-2030) ($MN)
91 Middle East & Africa Digital Phase Rotation Meters Market Outlook, By HVAC (Heating, Ventillation and Air Conditiong) Systems (2021-2030) ($MN)
92 Middle East & Africa Digital Phase Rotation Meters Market Outlook, By Energy Auditing (2021-2030) ($MN)
93 Middle East & Africa Digital Phase Rotation Meters Market Outlook, By Agricultural Operations (2021-2030) ($MN)
94 Middle East & Africa Digital Phase Rotation Meters Market Outlook, By Telecommunications (2021-2030) ($MN)
95 Middle East & Africa Digital Phase Rotation Meters Market Outlook, By Education and Training (2021-2030) ($MN)
96 Middle East & Africa Digital Phase Rotation Meters Market Outlook, By Other Applications (2021-2030) ($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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