Encoder Market
Encoder Market Forecasts to 2028 - Global Analysis By Type (Rotary and Linear), Technology (Optical, Photoelectric, Magnetic and Other Technologies), Level Of Automation (Semi-Autonomous Trucks and Autonomous Trucks), Signal Type (Absolute and Incremental), End User and By Geography
Years Covered |
2020-2028 |
Estimated Year Value (2022) |
US $2.7 BN |
Projected Year Value (2028) |
US $5.2 BN |
CAGR (2022 - 2028) |
11.7% |
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 |
Europe |
According to Stratistics MRC, the Global Encoder Market is accounted for $2.7 billion in 2022 and is expected to reach $5.2 billion by 2028 growing at a CAGR of 11.7% during the forecast period. A device or process that translates data from one format to another is known as an encoder. An encoder is a device in position sensing that detects and converts mechanical motion to an analogue or digital coded output signal. More specifically, it measures position, from which velocity, acceleration, and direction can be calculated in either linear or rotary movement. Encoder functionality varies due to differences in physical principles of operation, outputs, communication protocols, and other factors. Encoders are essential components in all mechanical systems. They are particularly common in industrial environments where massive machinery conducts repetitive chores, high-precision prototyping, or sensitive labour.
According to a report by the IFR (International Federation of Robotics), Asia is the world’s largest market for industrial robots; 74% of all newly deployed robots in 2021 were installed in Asia, compared to 70% in the previous year.
Market Dynamics:
Driver:
Growing demand for high-end automation
As automation becomes more prevalent in all industries, the use of encoders for a variety of applications grows. Encoders are employed in a variety of applications, including linear measurement, web tensioning, registration mark timing, backstop gauging, filling, conveying, and so on. Similarly, in industry, half of the electricity is utilised to power electric motors, hence the majority of these electric motors employ encoders to monitor or control the motor's functions. Additionally, encoders are employed in robotics, whether it is an articulating arm used in a manufacturing plant or a guided robot as a result, the encoder is employed in a variety of implementations where force sensing is required this adjustment is critical for precise control of the robotic system which boosts the market growth.
Restraint:
Errors related to accuracy
Encoders are at the heart of any closed-loop servo system, providing feedback to the controller, which utilises this information to assess whether or not the motor has reached the specified position or velocity. The difference between the true position of the device being measured and the position indicated by the encoder is referred to as accuracy. Many interconnected parameters influence encoder accuracy. They include the width and spacing of lines on the encoder disc or units that may produce a tiny inaccuracy in the timing of the encoder's pulses. It is not possible to add more lines or patterns to the code disc after an encoder has been created. Inconsistent width and or spacing cause mistakes in pulse timing. The precision with which the pattern is set on the code disc influences accuracy in absolute encoders.
Opportunity:
Increasing adoption for learning algorithms and artificially intelligent solutions
Traditional systems around the world are moving towards Industry 4.0, often known as the fourth industrial revolution. Industry 4.0 will enable physical equipment or machines to interface with control systems and behave autonomously by utilising machine learning and artificial intelligence. Customers may, for example, return defective goods with a scratch or a food item that has beyond its expiration date. In an era when retaining consumer trust is crucial, flaws can harm a brand's or retailer's credibility. As a result, many businesses have adopted artificial intelligence (AI) and automation to improve supply chain efficiency, inventory and order accuracy, and quality control thus providing wide range of opportunities in the future growth of the market
Threat:
Failures of mechanical components in severe settings
Encoder failure in severe settings is caused by solid particle or liquid contamination, mechanical bearing overload, and signal output failure. Either of these causes the encoder to stop working or the system to behave strangely. Similarly, encoders are frequently exposed to particulates such as sand, salt, small wood chips, and dust particles. These particles penetrate the encoders and obstruct the optical processing, causing the device to fail. Even industrial encoders with high IP ratings will not last long in such environments. Hence, the usage of encoders in hostile environments such as encoder failure occurs when moisture, excessive temperature, salt spray, chemical, and vibration levels exceed the limit.
Covid-19 Impact
The COVID-19 pandemic has had a significant impact on the encoder industry. With governments in various countries implementing and prolonging lockdowns, industry and manufacturing facilities around the world have been shut down due to the crisis and a lack of labour. Taking into account the inputs of various industry experts from various stages of the value chain, such as OEMs, suppliers, integrators, end users, and distributors, as well as the financial releases of various companies in the encoder ecosystem, it is estimated that the market has declined during Covid 19.
The Absolute segment is expected to be the largest during the forecast period
The Absolute segment is estimated to have a lucrative growth, due to incremental encoders measure the change in angular position. If the encoder has to move or go through a wake and shake process to ascertain its position, it is incremental. It is absolute if it outputs its true position without movement. Absolute encoders are utilised in a wide variety of applications that need mechanical system monitoring, control, or both. These applications include surgical robots, diagnostic imaging, radiation therapy, and satellite communications. Absolute encoders have advantages such as not requiring a battery backup to minimise data loss, and they have many features such as scaling. Hence all the above factors boost the market growth.
The Industrial segment is expected to have the highest CAGR during the forecast period
The Industrial segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the operating environment and the precision required by the application. Despite this, an industrial encoder is one of the most popular alternatives for most applications due to its balance of durability and performance. They are extremely durable under high temperatures, with particles, moisture, and pollutants, and when subjected to shock or vibration. They also outperform in terms of speed. Heavy duty encoders are the ideal choice for the most demanding settings, including paper, steel, and ore mills where contamination is frequent and shock and heat impact the motor, aerospace stress, and quick manufacturing operations in food and beverage processing which propel the market growth.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the growing industrialization and demand for better manufacturing process solutions are propelling the market forward at a quick rate. As Asia is home to major industrial hubs such as Japan, China, and India, expanding manufacturing facilities and service agreements with firms are also fuelling industry expansion. Furthermore, the presence of numerous major automobile manufacturers in the country, South Korea has retained its status as one of the world's top automotive production countries and one of the leading automotive exporters.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the expansion of manufacturing and engineering centres associated to numerous industries has contributed to the growth of the encoder market in Europe. Germany has had remarkable industrial expansion over the last two decades and has surpassed the United States to become the world's greatest producer of manufactured goods. Additionally, strong economic expansion and the formation of numerous small and medium-sized businesses are contributing to an increase in demand for low-end MFPs in Germany, resulting in the growth of the encoder market.
Key players in the market
Some of the key players profiled in the Encoder Market include Renishaw plc, FRABA B.V, Sensata Technologies Holding plc, IFM Electronics Gmbh, Fortive, Tamagawa Seiki Co., Ltd., Pilz GmbH & Co. KG, Baumer Group, Mitutoyo Corporation, Koyo Electronics Industries Co., Ltd, Omron Corporation, Rockwell Automation, Inc, Hengstler GmbH, Kubler Group, Elap srl, Nemicon Corporation, Gurley Precision Instruments, Schneider Electric SE, Maxon Motor AG and Pepperl+Fuchs SE
Key Developments:
In Feb 2023, Renishaw hosts launch of Welsh Government’s new innovation strategy, During the launch event at the Company's manufacturing site in Miskin, near Cardiff, the Welsh Government outlined its aspiration to become an innovation-based nation and bring better healthcare, jobs and prosperity for businesses and local communities.
In Jan 2023, Sensata Technologies Launched Sensata INSIGHTS Proprietary Platform that Provides End-to-End IoT Solutions. Sensata INSIGHTS provides better data for customers to fully maximize the IoT ecosystem with end-to-end solutions that span the entire supply chain including logistics, telematics and worksite monitoring and management.
In Nov 2022, Renishaw launches innovative CENTRUM™ metal rotary scale for ATOM DX™ encoder series, after an intensive research and development effort at Renishaw, rotary RCDM glass scales are now joined by CENTRUM stainless steel self-centring discs.
In July 2022, Renishaw launches the inLux™ SEM Raman interface, Adding the inLux interface to your SEM enables in situ Raman spectroscopy which provides highly specific chemical and structural characterisation to complement your SEM information.
Types Covered:
• Rotary
• Linear
Technologies Covered:
• Optical
• Photoelectric
• Magnetic
• Other Technologies
Signal Types Covered:
• Absolute
• Incremental
End Users Covered:
• Electronics
• Textile
• Automotive
• Industrial
• Medical
• Printing Machinery
• Other End Users
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 2020, 2021, 2022, 2025, and 2028
- 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 Technology Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 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 Encoder Market, By Type
5.1 Introduction
5.2 Rotary
5.3 Linear
6 Global Encoder Market, By Technology
6.1 Introduction
6.2 Optical
6.3 Photoelectric
6.4 Magnetic
6.5 Other Technologies
7 Global Encoder Market, By Signal Type
7.1 Introduction
7.2 Absolute
7.3 Incremental
8 Global Encoder Market, By End User
8.1 Introduction
8.2 Electronics
8.3 Textile
8.4 Automotive
8.5 Industrial
8.6 Medical
8.7 Printing Machinery
8.8 Other End Users
9 Global Encoder 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 Renishaw plc
11.2 FRABA B.V.
11.3 Sensata Technologies Holding plc
11.4 IFM Electronics Gmbh
11.5 Fortive
11.6 Tamagawa Seiki Co., Ltd.
11.7 Pilz GmbH & Co. KG
11.8 Baumer Group
11.9 Mitutoyo Corporation
11.10 Koyo Electronics Industries Co., Ltd.
11.11 Omron Corporation
11.12 Rockwell Automation, Inc
11.13 Hengstler GmbH
11.14 Kubler Group
11.15 Elap srl
11.16 Nemicon Corporation
11.17 Gurley Precision Instruments
11.18 Schneider Electric SE
11.19 Maxon Motor AG
11.20 Pepperl+Fuchs SE
List of Tables
1 Global Encoder Market Outlook, By Region (2020-2028) ($MN)
2 Global Encoder Market Outlook, By Type (2020-2028) ($MN)
3 Global Encoder Market Outlook, By Rotary (2020-2028) ($MN)
4 Global Encoder Market Outlook, By Linear (2020-2028) ($MN)
5 Global Encoder Market Outlook, By Technology (2020-2028) ($MN)
6 Global Encoder Market Outlook, By Optical (2020-2028) ($MN)
7 Global Encoder Market Outlook, By Photoelectric (2020-2028) ($MN)
8 Global Encoder Market Outlook, By Magnetic (2020-2028) ($MN)
9 Global Encoder Market Outlook, By Other Technologies (2020-2028) ($MN)
10 Global Encoder Market Outlook, By Signal Type (2020-2028) ($MN)
11 Global Encoder Market Outlook, By Absolute (2020-2028) ($MN)
12 Global Encoder Market Outlook, By Incremental (2020-2028) ($MN)
13 Global Encoder Market Outlook, By End User (2020-2028) ($MN)
14 Global Encoder Market Outlook, By Electronics (2020-2028) ($MN)
15 Global Encoder Market Outlook, By Textile (2020-2028) ($MN)
16 Global Encoder Market Outlook, By Automotive (2020-2028) ($MN)
17 Global Encoder Market Outlook, By Industrial (2020-2028) ($MN)
18 Global Encoder Market Outlook, By Medical (2020-2028) ($MN)
19 Global Encoder Market Outlook, By Printing Machinery (2020-2028) ($MN)
20 Global Encoder Market Outlook, By Other End Users (2020-2028) ($MN)
21 North America Encoder Market Outlook, By Country (2020-2028) ($MN)
22 North America Encoder Market Outlook, By Type (2020-2028) ($MN)
23 North America Encoder Market Outlook, By Rotary (2020-2028) ($MN)
24 North America Encoder Market Outlook, By Linear (2020-2028) ($MN)
25 North America Encoder Market Outlook, By Technology (2020-2028) ($MN)
26 North America Encoder Market Outlook, By Optical (2020-2028) ($MN)
27 North America Encoder Market Outlook, By Photoelectric (2020-2028) ($MN)
28 North America Encoder Market Outlook, By Magnetic (2020-2028) ($MN)
29 North America Encoder Market Outlook, By Other Technologies (2020-2028) ($MN)
30 North America Encoder Market Outlook, By Signal Type (2020-2028) ($MN)
31 North America Encoder Market Outlook, By Absolute (2020-2028) ($MN)
32 North America Encoder Market Outlook, By Incremental (2020-2028) ($MN)
33 North America Encoder Market Outlook, By End User (2020-2028) ($MN)
34 North America Encoder Market Outlook, By Electronics (2020-2028) ($MN)
35 North America Encoder Market Outlook, By Textile (2020-2028) ($MN)
36 North America Encoder Market Outlook, By Automotive (2020-2028) ($MN)
37 North America Encoder Market Outlook, By Industrial (2020-2028) ($MN)
38 North America Encoder Market Outlook, By Medical (2020-2028) ($MN)
39 North America Encoder Market Outlook, By Printing Machinery (2020-2028) ($MN)
40 North America Encoder Market Outlook, By Other End Users (2020-2028) ($MN)
41 Europe Encoder Market Outlook, By Country (2020-2028) ($MN)
42 Europe Encoder Market Outlook, By Type (2020-2028) ($MN)
43 Europe Encoder Market Outlook, By Rotary (2020-2028) ($MN)
44 Europe Encoder Market Outlook, By Linear (2020-2028) ($MN)
45 Europe Encoder Market Outlook, By Technology (2020-2028) ($MN)
46 Europe Encoder Market Outlook, By Optical (2020-2028) ($MN)
47 Europe Encoder Market Outlook, By Photoelectric (2020-2028) ($MN)
48 Europe Encoder Market Outlook, By Magnetic (2020-2028) ($MN)
49 Europe Encoder Market Outlook, By Other Technologies (2020-2028) ($MN)
50 Europe Encoder Market Outlook, By Signal Type (2020-2028) ($MN)
51 Europe Encoder Market Outlook, By Absolute (2020-2028) ($MN)
52 Europe Encoder Market Outlook, By Incremental (2020-2028) ($MN)
53 Europe Encoder Market Outlook, By End User (2020-2028) ($MN)
54 Europe Encoder Market Outlook, By Electronics (2020-2028) ($MN)
55 Europe Encoder Market Outlook, By Textile (2020-2028) ($MN)
56 Europe Encoder Market Outlook, By Automotive (2020-2028) ($MN)
57 Europe Encoder Market Outlook, By Industrial (2020-2028) ($MN)
58 Europe Encoder Market Outlook, By Medical (2020-2028) ($MN)
59 Europe Encoder Market Outlook, By Printing Machinery (2020-2028) ($MN)
60 Europe Encoder Market Outlook, By Other End Users (2020-2028) ($MN)
61 Asia Pacific Encoder Market Outlook, By Country (2020-2028) ($MN)
62 Asia Pacific Encoder Market Outlook, By Type (2020-2028) ($MN)
63 Asia Pacific Encoder Market Outlook, By Rotary (2020-2028) ($MN)
64 Asia Pacific Encoder Market Outlook, By Linear (2020-2028) ($MN)
65 Asia Pacific Encoder Market Outlook, By Technology (2020-2028) ($MN)
66 Asia Pacific Encoder Market Outlook, By Optical (2020-2028) ($MN)
67 Asia Pacific Encoder Market Outlook, By Photoelectric (2020-2028) ($MN)
68 Asia Pacific Encoder Market Outlook, By Magnetic (2020-2028) ($MN)
69 Asia Pacific Encoder Market Outlook, By Other Technologies (2020-2028) ($MN)
70 Asia Pacific Encoder Market Outlook, By Signal Type (2020-2028) ($MN)
71 Asia Pacific Encoder Market Outlook, By Absolute (2020-2028) ($MN)
72 Asia Pacific Encoder Market Outlook, By Incremental (2020-2028) ($MN)
73 Asia Pacific Encoder Market Outlook, By End User (2020-2028) ($MN)
74 Asia Pacific Encoder Market Outlook, By Electronics (2020-2028) ($MN)
75 Asia Pacific Encoder Market Outlook, By Textile (2020-2028) ($MN)
76 Asia Pacific Encoder Market Outlook, By Automotive (2020-2028) ($MN)
77 Asia Pacific Encoder Market Outlook, By Industrial (2020-2028) ($MN)
78 Asia Pacific Encoder Market Outlook, By Medical (2020-2028) ($MN)
79 Asia Pacific Encoder Market Outlook, By Printing Machinery (2020-2028) ($MN)
80 Asia Pacific Encoder Market Outlook, By Other End Users (2020-2028) ($MN)
81 South America Encoder Market Outlook, By Country (2020-2028) ($MN)
82 South America Encoder Market Outlook, By Type (2020-2028) ($MN)
83 South America Encoder Market Outlook, By Rotary (2020-2028) ($MN)
84 South America Encoder Market Outlook, By Linear (2020-2028) ($MN)
85 South America Encoder Market Outlook, By Technology (2020-2028) ($MN)
86 South America Encoder Market Outlook, By Optical (2020-2028) ($MN)
87 South America Encoder Market Outlook, By Photoelectric (2020-2028) ($MN)
88 South America Encoder Market Outlook, By Magnetic (2020-2028) ($MN)
89 South America Encoder Market Outlook, By Other Technologies (2020-2028) ($MN)
90 South America Encoder Market Outlook, By Signal Type (2020-2028) ($MN)
91 South America Encoder Market Outlook, By Absolute (2020-2028) ($MN)
92 South America Encoder Market Outlook, By Incremental (2020-2028) ($MN)
93 South America Encoder Market Outlook, By End User (2020-2028) ($MN)
94 South America Encoder Market Outlook, By Electronics (2020-2028) ($MN)
95 South America Encoder Market Outlook, By Textile (2020-2028) ($MN)
96 South America Encoder Market Outlook, By Automotive (2020-2028) ($MN)
97 South America Encoder Market Outlook, By Industrial (2020-2028) ($MN)
98 South America Encoder Market Outlook, By Medical (2020-2028) ($MN)
99 South America Encoder Market Outlook, By Printing Machinery (2020-2028) ($MN)
100 South America Encoder Market Outlook, By Other End Users (2020-2028) ($MN)
101 Middle East & Africa Encoder Market Outlook, By Country (2020-2028) ($MN)
102 Middle East & Africa Encoder Market Outlook, By Type (2020-2028) ($MN)
103 Middle East & Africa Encoder Market Outlook, By Rotary (2020-2028) ($MN)
104 Middle East & Africa Encoder Market Outlook, By Linear (2020-2028) ($MN)
105 Middle East & Africa Encoder Market Outlook, By Technology (2020-2028) ($MN)
106 Middle East & Africa Encoder Market Outlook, By Optical (2020-2028) ($MN)
107 Middle East & Africa Encoder Market Outlook, By Photoelectric (2020-2028) ($MN)
108 Middle East & Africa Encoder Market Outlook, By Magnetic (2020-2028) ($MN)
109 Middle East & Africa Encoder Market Outlook, By Other Technologies (2020-2028) ($MN)
110 Middle East & Africa Encoder Market Outlook, By Signal Type (2020-2028) ($MN)
111 Middle East & Africa Encoder Market Outlook, By Absolute (2020-2028) ($MN)
112 Middle East & Africa Encoder Market Outlook, By Incremental (2020-2028) ($MN)
113 Middle East & Africa Encoder Market Outlook, By End User (2020-2028) ($MN)
114 Middle East & Africa Encoder Market Outlook, By Electronics (2020-2028) ($MN)
115 Middle East & Africa Encoder Market Outlook, By Textile (2020-2028) ($MN)
116 Middle East & Africa Encoder Market Outlook, By Automotive (2020-2028) ($MN)
117 Middle East & Africa Encoder Market Outlook, By Industrial (2020-2028) ($MN)
118 Middle East & Africa Encoder Market Outlook, By Medical (2020-2028) ($MN)
119 Middle East & Africa Encoder Market Outlook, By Printing Machinery (2020-2028) ($MN)
120 Middle East & Africa Encoder Market Outlook, By Other End Users (2020-2028) ($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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