Electric Vehicle Communication Controller Market Forecasts to 2030 - Global Analysis By System (EV Communication Controller (EVCC) and Supply Equipment Communication Controller (SECC)), Vehicle Type (Hybrid, Plug-In and Battery Operated), Current Type, Charging Type, Application and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $187.83 MN |
|
Projected Year Value (2030) |
US $1,599.82 MN |
|
CAGR (2023 - 2030) |
35.8% |
|
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 |
Europe |
According to Stratistics MRC, the Global Electric Vehicle Communication Controller Market is accounted for $187.83 million in 2023 and is expected to reach $1,599.82 million by 2030 growing at a CAGR of 35.8% during the forecast period. An Electric Vehicle Communication Controller (EVCC) is a crucial component in electric vehicle (EV) charging infrastructure. It serves as a communication interface between the electric vehicle and the charging equipment. The EVCC keeps track of the energy consumed during the charging process. It incorporates safety features to ensure that the charging process is carried out securely. The EVCC can log charging session data, including start and stop times, energy consumption, and charging parameters.
According to the U.S. Department of Transportation, charging stations will be located every 50 miles throughout the corridor. The project is funded by the Bipartisan Infrastructure Act, which has given USD 7.5 billion in federal financing for a nationwide network of 500,000 public EV chargers.
Market Dynamics:
Driver:
Rising demand for efficient charging systems
As the popularity of EVs continues to grow, there is a greater need for reliable and efficient charging infrastructure to support the expanding fleet of electric cars and trucks. Governments, organizations, and individuals are increasingly focused on reducing carbon emissions and combating climate change. Efficient charging systems help transition away from fossil fuels, which contribute to air pollution and greenhouse gas emissions. They allow for better management of intermittent energy generation and help reduce the reliance on non-renewable energy sources. Further, fast charging networks, cost savings, technological advancements and enhancing grid resilience factors are propelling the market growth.
Restraint:
Stringent regulations and standards
Electric Vehicle Communication Controllers (EVCCs) are subject to various stringent regulations and standards to ensure their safety, interoperability, and functionality within electric vehicle charging infrastructure. With the increasing integration of digital technology in EVCCs, cybersecurity standards are becoming increasingly important. EVCCs must comply with local, regional, and national regulations governing electric vehicle charging infrastructure. Manufacturers and developers of EVCCs must undergo rigorous testing and certification processes mandatorily which hinders the market demand.
Opportunity:
Increasing focus on developing EV infrastructure
Governments around the world are implementing policies and incentives to promote EV adoption. These initiatives often include funding for EV charging infrastructure development, tax incentives, rebates, and emissions reduction targets. A robust charging infrastructure is necessary to support the growing number of EVs on the road. The push for EV infrastructure drives innovation in areas such as charging technology, grid management, and energy storage, spurring technological advancements that can benefit other sectors as well. Thus, the growing innovations and developments of EV infrastructure is fuelling the market growth.
Threat:
Electric vehicles are expensive
The initial cost of owning an electric vehicle is higher than that of a conventional vehicle. The high initial cost makes it unaffordable for many prospective purchasers, limiting EV demand. This price disparity is mostly due to the costly battery technology utilized by EVs. The installation of EV charging stations necessitates particular technological safety. Electric vehicles must meet rigorous safety standards and undergo extensive testing to ensure they are as safe as traditional vehicles. This involves additional engineering and testing costs. All these costs together make the vehicle expensive and restrain the market growth.
Covid-19 Impact
The COVID-19 pandemic has had both direct and indirect impacts on the electric vehicle (EV) industry, including components like Electric Vehicle Communication Controllers (EVCCs). The pandemic disrupted global supply chains, affecting the production and availability of electronic components. Manufacturing facilities faced closures, reduced capacity, or shifts in production priorities due to lockdowns, social distancing measures, and workforce disruptions. The pandemic underscored the need for resilient and adaptable technologies. This could drive innovation and development in EVCCs to make charging infrastructure more robust and capable of withstanding disruptions.
The wireless charging segment is expected to be the largest during the forecast period
The wireless charging segment is estimated to have a lucrative growth, due to rise in the adoption of driverless and ridesharing EVs. In countries such as China and the U.S., there has been a rising demand for driverless EVs that mostly use wireless charging technology. Furthermore, various automotive manufacturers and OEMs are engaging in R&D activities to develop EVCC for wireless charging solutions. Additionally, its reduced physical wear and tear, convenience and ease of use, automated charging process and reduction in charging infrastructure costs factors are fuelling the segment demand.
The commercial vehicle segment is expected to have the highest CAGR during the forecast period
The commercial vehicle segment is anticipated to witness the fastest CAGR growth during the forecast period, due to rising demand for commercial EVs such as trucks, vans, and buses from e-commerce, logistics, and public transport agencies. Governments of various countries are focusing on the replacement of fuel-based bus fleets with electric buses. Furthermore, companies such as Siemens AG; ABB, Ltd.; and Schneider Electric are focusing on the development of inverted pantographs for commercial vehicles, which is further propelling market demand.
Region with largest share:
North America is projected to hold the largest market share during the forecast period owing to growing number of key strategic initiatives and funding in the field of electric vehicle charging stations. As well as there are growing government initiatives for EV charging infrastructure and rapid adoption of electric vehicles, especially in the US and Canada. North America is a regional hub for many renowned OEMs known for delivering quality and high-performance vehicles. OEMs in North America such as Tesla and GM focus on the development of faster, cleaner, and high-performance electric vehicles. Various services offered by electric vehicle infrastructure providers have increased the adoption rate of electric vehicles in the US.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period. This region has strict government regulations. The governments of developing economies in this region have recognized the growth potential of the electric vehicle market and, hence, have taken different initiatives to attract major OEMs to manufacture electric vehicles in domestic markets. Also, there is emergence of major startup companies developing wireless electric vehicle charging solutions, and major key strategic partnerships between them as well as rising Research and Development (R&D) activities which are driving revenue growth of the market in this region.
Key players in the market
Some of the key players profiled in the Electric Vehicle Communication Controller Market include Mitsubishi Electric, LG Innotek, Siemens, BYD Auto, Schneider Electric, ABB Limited, Ficosa, Robert Bosch, Vector, Tesla, Efacec, Engie, Hyundai, Vertexcom and Versinetic Limited.
Key Developments:
In April 2023, Schneider Electric, a global leader in the digital transformation of energy management and automation, has announced the launch of the EVlink Home charger. The charger incorporates new features aimed at making at-home charging easier to install and more cost-effective to use.
In April 2023, Mitsubishi Electric Corporation has developed a technology to detect serious physical conditions experienced by people driving automobiles, such as loss of consciousness, by estimating pulse rate, changes in blood pressure and other biometric data collected with a contactless Driver Monitoring System (DMS) camera, which the company has already launched to detect driver distractions and drowsiness.
Systems Covered:
• EV Communication Controller (EVCC)
• Supply Equipment Communication Controller (SECC)
Vehicle Types Covered:
• Hybrid
• Plug-In
• Battery Operated
Current Types Covered:
• Alternating Current (AC)
• Direct Current (DC)
Charging Types Covered:
• Wired Charging
• Wireless Charging
Applications Covered:
• Commercial Vehicle
• Passenger Vehicle
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
o 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 Electric Vehicle Communication Controller Market, By System
5.1 Introduction
5.2 EV Communication Controller (EVCC)
5.3 Supply Equipment Communication Controller (SECC)
6 Global Electric Vehicle Communication Controller Market, By Vehicle Type
6.1 Introduction
6.2 Hybrid
6.3 Plug-In
6.4 Battery Operated
7 Global Electric Vehicle Communication Controller Market, By Current Type
7.1 Introduction
7.2 Alternating Current (AC)
7.3 Direct Current (DC)
8 Global Electric Vehicle Communication Controller Market, By Charging Type
8.1 Introduction
8.2 Wired Charging
8.3 Wireless Charging
9 Global Electric Vehicle Communication Controller Market, By Application
9.1 Introduction
9.2 Commercial Vehicle
9.3 Passenger Vehicle
10 Global Electric Vehicle Communication Controller 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
13 Company Profiling
13.1 Mitsubishi Electric
13.2 LG Innotek
13.3 Siemens
13.4 BYD Auto
13.5 Schneider Electric
13.6 ABB Limited
13.7 Ficosa
13.8 Robert Bosch
13.9 Vector
13.10 Tesla
13.11 Efacec
13.12 Engie
13.13 Hyundai
13.14 Vertexcom
13.15 Versinetic Limited
List of Tables
1 Global Electric Vehicle Communication Controller Market Outlook, By Region (2021-2030) ($MN)
2 Global Electric Vehicle Communication Controller Market Outlook, By System (2021-2030) ($MN)
3 Global Electric Vehicle Communication Controller Market Outlook, By EV Communication Controller (EVCC) (2021-2030) ($MN)
4 Global Electric Vehicle Communication Controller Market Outlook, By Supply Equipment Communication Controller (SECC) (2021-2030) ($MN)
5 Global Electric Vehicle Communication Controller Market Outlook, By Vehicle Type (2021-2030) ($MN)
6 Global Electric Vehicle Communication Controller Market Outlook, By Hybrid (2021-2030) ($MN)
7 Global Electric Vehicle Communication Controller Market Outlook, By Plug-In (2021-2030) ($MN)
8 Global Electric Vehicle Communication Controller Market Outlook, By Battery Operated (2021-2030) ($MN)
9 Global Electric Vehicle Communication Controller Market Outlook, By Current Type (2021-2030) ($MN)
10 Global Electric Vehicle Communication Controller Market Outlook, By Alternating Current (AC) (2021-2030) ($MN)
11 Global Electric Vehicle Communication Controller Market Outlook, By Direct Current (DC) (2021-2030) ($MN)
12 Global Electric Vehicle Communication Controller Market Outlook, By Charging Type (2021-2030) ($MN)
13 Global Electric Vehicle Communication Controller Market Outlook, By Wired Charging (2021-2030) ($MN)
14 Global Electric Vehicle Communication Controller Market Outlook, By Wireless Charging (2021-2030) ($MN)
15 Global Electric Vehicle Communication Controller Market Outlook, By Application (2021-2030) ($MN)
16 Global Electric Vehicle Communication Controller Market Outlook, By Commercial Vehicle (2021-2030) ($MN)
17 Global Electric Vehicle Communication Controller Market Outlook, By Passenger Vehicle (2021-2030) ($MN)
18 North America Electric Vehicle Communication Controller Market Outlook, By Country (2021-2030) ($MN)
19 North America Electric Vehicle Communication Controller Market Outlook, By System (2021-2030) ($MN)
20 North America Electric Vehicle Communication Controller Market Outlook, By EV Communication Controller (EVCC) (2021-2030) ($MN)
21 North America Electric Vehicle Communication Controller Market Outlook, By Supply Equipment Communication Controller (SECC) (2021-2030) ($MN)
22 North America Electric Vehicle Communication Controller Market Outlook, By Vehicle Type (2021-2030) ($MN)
23 North America Electric Vehicle Communication Controller Market Outlook, By Hybrid (2021-2030) ($MN)
24 North America Electric Vehicle Communication Controller Market Outlook, By Plug-In (2021-2030) ($MN)
25 North America Electric Vehicle Communication Controller Market Outlook, By Battery Operated (2021-2030) ($MN)
26 North America Electric Vehicle Communication Controller Market Outlook, By Current Type (2021-2030) ($MN)
27 North America Electric Vehicle Communication Controller Market Outlook, By Alternating Current (AC) (2021-2030) ($MN)
28 North America Electric Vehicle Communication Controller Market Outlook, By Direct Current (DC) (2021-2030) ($MN)
29 North America Electric Vehicle Communication Controller Market Outlook, By Charging Type (2021-2030) ($MN)
30 North America Electric Vehicle Communication Controller Market Outlook, By Wired Charging (2021-2030) ($MN)
31 North America Electric Vehicle Communication Controller Market Outlook, By Wireless Charging (2021-2030) ($MN)
32 North America Electric Vehicle Communication Controller Market Outlook, By Application (2021-2030) ($MN)
33 North America Electric Vehicle Communication Controller Market Outlook, By Commercial Vehicle (2021-2030) ($MN)
34 North America Electric Vehicle Communication Controller Market Outlook, By Passenger Vehicle (2021-2030) ($MN)
35 Europe Electric Vehicle Communication Controller Market Outlook, By Country (2021-2030) ($MN)
36 Europe Electric Vehicle Communication Controller Market Outlook, By System (2021-2030) ($MN)
37 Europe Electric Vehicle Communication Controller Market Outlook, By EV Communication Controller (EVCC) (2021-2030) ($MN)
38 Europe Electric Vehicle Communication Controller Market Outlook, By Supply Equipment Communication Controller (SECC) (2021-2030) ($MN)
39 Europe Electric Vehicle Communication Controller Market Outlook, By Vehicle Type (2021-2030) ($MN)
40 Europe Electric Vehicle Communication Controller Market Outlook, By Hybrid (2021-2030) ($MN)
41 Europe Electric Vehicle Communication Controller Market Outlook, By Plug-In (2021-2030) ($MN)
42 Europe Electric Vehicle Communication Controller Market Outlook, By Battery Operated (2021-2030) ($MN)
43 Europe Electric Vehicle Communication Controller Market Outlook, By Current Type (2021-2030) ($MN)
44 Europe Electric Vehicle Communication Controller Market Outlook, By Alternating Current (AC) (2021-2030) ($MN)
45 Europe Electric Vehicle Communication Controller Market Outlook, By Direct Current (DC) (2021-2030) ($MN)
46 Europe Electric Vehicle Communication Controller Market Outlook, By Charging Type (2021-2030) ($MN)
47 Europe Electric Vehicle Communication Controller Market Outlook, By Wired Charging (2021-2030) ($MN)
48 Europe Electric Vehicle Communication Controller Market Outlook, By Wireless Charging (2021-2030) ($MN)
49 Europe Electric Vehicle Communication Controller Market Outlook, By Application (2021-2030) ($MN)
50 Europe Electric Vehicle Communication Controller Market Outlook, By Commercial Vehicle (2021-2030) ($MN)
51 Europe Electric Vehicle Communication Controller Market Outlook, By Passenger Vehicle (2021-2030) ($MN)
52 Asia Pacific Electric Vehicle Communication Controller Market Outlook, By Country (2021-2030) ($MN)
53 Asia Pacific Electric Vehicle Communication Controller Market Outlook, By System (2021-2030) ($MN)
54 Asia Pacific Electric Vehicle Communication Controller Market Outlook, By EV Communication Controller (EVCC) (2021-2030) ($MN)
55 Asia Pacific Electric Vehicle Communication Controller Market Outlook, By Supply Equipment Communication Controller (SECC) (2021-2030) ($MN)
56 Asia Pacific Electric Vehicle Communication Controller Market Outlook, By Vehicle Type (2021-2030) ($MN)
57 Asia Pacific Electric Vehicle Communication Controller Market Outlook, By Hybrid (2021-2030) ($MN)
58 Asia Pacific Electric Vehicle Communication Controller Market Outlook, By Plug-In (2021-2030) ($MN)
59 Asia Pacific Electric Vehicle Communication Controller Market Outlook, By Battery Operated (2021-2030) ($MN)
60 Asia Pacific Electric Vehicle Communication Controller Market Outlook, By Current Type (2021-2030) ($MN)
61 Asia Pacific Electric Vehicle Communication Controller Market Outlook, By Alternating Current (AC) (2021-2030) ($MN)
62 Asia Pacific Electric Vehicle Communication Controller Market Outlook, By Direct Current (DC) (2021-2030) ($MN)
63 Asia Pacific Electric Vehicle Communication Controller Market Outlook, By Charging Type (2021-2030) ($MN)
64 Asia Pacific Electric Vehicle Communication Controller Market Outlook, By Wired Charging (2021-2030) ($MN)
65 Asia Pacific Electric Vehicle Communication Controller Market Outlook, By Wireless Charging (2021-2030) ($MN)
66 Asia Pacific Electric Vehicle Communication Controller Market Outlook, By Application (2021-2030) ($MN)
67 Asia Pacific Electric Vehicle Communication Controller Market Outlook, By Commercial Vehicle (2021-2030) ($MN)
68 Asia Pacific Electric Vehicle Communication Controller Market Outlook, By Passenger Vehicle (2021-2030) ($MN)
69 South America Electric Vehicle Communication Controller Market Outlook, By Country (2021-2030) ($MN)
70 South America Electric Vehicle Communication Controller Market Outlook, By System (2021-2030) ($MN)
71 South America Electric Vehicle Communication Controller Market Outlook, By EV Communication Controller (EVCC) (2021-2030) ($MN)
72 South America Electric Vehicle Communication Controller Market Outlook, By Supply Equipment Communication Controller (SECC) (2021-2030) ($MN)
73 South America Electric Vehicle Communication Controller Market Outlook, By Vehicle Type (2021-2030) ($MN)
74 South America Electric Vehicle Communication Controller Market Outlook, By Hybrid (2021-2030) ($MN)
75 South America Electric Vehicle Communication Controller Market Outlook, By Plug-In (2021-2030) ($MN)
76 South America Electric Vehicle Communication Controller Market Outlook, By Battery Operated (2021-2030) ($MN)
77 South America Electric Vehicle Communication Controller Market Outlook, By Current Type (2021-2030) ($MN)
78 South America Electric Vehicle Communication Controller Market Outlook, By Alternating Current (AC) (2021-2030) ($MN)
79 South America Electric Vehicle Communication Controller Market Outlook, By Direct Current (DC) (2021-2030) ($MN)
80 South America Electric Vehicle Communication Controller Market Outlook, By Charging Type (2021-2030) ($MN)
81 South America Electric Vehicle Communication Controller Market Outlook, By Wired Charging (2021-2030) ($MN)
82 South America Electric Vehicle Communication Controller Market Outlook, By Wireless Charging (2021-2030) ($MN)
83 South America Electric Vehicle Communication Controller Market Outlook, By Application (2021-2030) ($MN)
84 South America Electric Vehicle Communication Controller Market Outlook, By Commercial Vehicle (2021-2030) ($MN)
85 South America Electric Vehicle Communication Controller Market Outlook, By Passenger Vehicle (2021-2030) ($MN)
86 Middle East & Africa Electric Vehicle Communication Controller Market Outlook, By Country (2021-2030) ($MN)
87 Middle East & Africa Electric Vehicle Communication Controller Market Outlook, By System (2021-2030) ($MN)
88 Middle East & Africa Electric Vehicle Communication Controller Market Outlook, By EV Communication Controller (EVCC) (2021-2030) ($MN)
89 Middle East & Africa Electric Vehicle Communication Controller Market Outlook, By Supply Equipment Communication Controller (SECC) (2021-2030) ($MN)
90 Middle East & Africa Electric Vehicle Communication Controller Market Outlook, By Vehicle Type (2021-2030) ($MN)
91 Middle East & Africa Electric Vehicle Communication Controller Market Outlook, By Hybrid (2021-2030) ($MN)
92 Middle East & Africa Electric Vehicle Communication Controller Market Outlook, By Plug-In (2021-2030) ($MN)
93 Middle East & Africa Electric Vehicle Communication Controller Market Outlook, By Battery Operated (2021-2030) ($MN)
94 Middle East & Africa Electric Vehicle Communication Controller Market Outlook, By Current Type (2021-2030) ($MN)
95 Middle East & Africa Electric Vehicle Communication Controller Market Outlook, By Alternating Current (AC) (2021-2030) ($MN)
96 Middle East & Africa Electric Vehicle Communication Controller Market Outlook, By Direct Current (DC) (2021-2030) ($MN)
97 Middle East & Africa Electric Vehicle Communication Controller Market Outlook, By Charging Type (2021-2030) ($MN)
98 Middle East & Africa Electric Vehicle Communication Controller Market Outlook, By Wired Charging (2021-2030) ($MN)
99 Middle East & Africa Electric Vehicle Communication Controller Market Outlook, By Wireless Charging (2021-2030) ($MN)
100 Middle East & Africa Electric Vehicle Communication Controller Market Outlook, By Application (2021-2030) ($MN)
101 Middle East & Africa Electric Vehicle Communication Controller Market Outlook, By Commercial Vehicle (2021-2030) ($MN)
102 Middle East & Africa Electric Vehicle Communication Controller Market Outlook, By Passenger Vehicle (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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