Energy Storage As A Service Market
Energy Storage As A Service Market Forecasts to 2030 - Global Analysis By Service (Ancillary Services, Transmission Infrastructure Services and Other Services), Component (Control and Monitoring System, Service Contract and Other Components), End User and By Geography
According to Stratistics MRC, the Global Energy Storage As A Service Market is accounted for $68.66 billion in 2023 and is expected to reach $137.34 billion by 2030 growing at a CAGR of 10.41% during the forecast period. Energy Storage as a Service (ESaaS) is an innovative solution that allows businesses to access and utilize energy storage systems without the need for significant upfront investments. This service model enables companies to store excess energy during periods of low demand and release it during peak demand, enhancing overall energy efficiency. ESaaS providers typically offer a range of storage technologies, such as batteries or flywheels, tailored to meet specific energy needs. This approach not only promotes sustainability by optimizing energy usage but also provides cost savings and grid stability for businesses seeking flexible and reliable power solutions.
According to Synergy BV, the market opportunity for energy storage as a service in the U.S. is driven by factors such as peak load challenges in New York City. Moreover, this model has helped drive the initiative “Renewing the Energy Vision (REV)” of the U.S. states.
Market Dynamics:
Driver:
Grid stability and resilience
Energy storage systems play a pivotal role in maintaining grid stability by providing rapid response capabilities to balance supply and demand fluctuations. They act as a buffer, storing excess energy during periods of low demand and releasing it during peak demand, enhancing overall grid reliability. Additionally, energy storage contributes to grid resilience by offering backup power during emergencies and grid failures. As the demand for reliable and stable energy sources grows, the ESaaS market thrives, driven by its ability to address these key challenges in the power grid infrastructure.
Restraint:
Limited awareness and education
Many potential users and stakeholders are not fully informed about the benefits and functionalities of ESaaS solutions. This lack of awareness hampers the widespread adoption of these services. Additionally, inadequate education on the economic and environmental advantages of energy storage inhibits potential clients from recognizing the long-term value of ESaaS. Overcoming these barriers requires targeted efforts to raise awareness and enhance education about the capabilities and advantages of energy storage solutions.
Opportunity:
Electric vehicle (EV) charging infrastructure
As the adoption of electric vehicles continues to rise, the demand for efficient and reliable charging infrastructure grows. Energy Storage as a Service can play a crucial role by providing grid support, managing peak demand, and ensuring a stable power supply for EV charging stations. By offering flexible and scalable energy storage solutions, service providers can enhance the reliability of EV charging networks, optimize energy usage, and contribute to the overall sustainability of the electric transportation ecosystem. This synergy creates a promising market for energy storage-as-a Service providers to meet the evolving needs of the expanding EV infrastructure.
Threat:
Cost competitiveness
The Cost Competitiveness threat in the Energy Storage As A Service (ESaaS) market arises from potential challenges in achieving a competitive pricing structure compared to traditional energy storage solutions. Factors such as high initial investment costs, maintenance expenses, and the need for advanced technologies may hinder ESaaS providers in offering cost-effective services. Additionally, fluctuations in raw material prices and evolving industry standards can impact overall pricing strategies. To thrive in this market, ESaaS providers must focus on innovation, operational efficiency, and scalability to mitigate cost-related challenges.
Covid-19 Impact:
The COVID-19 pandemic has both positively and negatively impacted the energy storage as a Service (ESaaS) market. On one hand, disruptions in the global supply chain and project delays have hindered the deployment of energy storage solutions. On the other hand, the increased focus on renewable energy and grid resilience has accelerated the adoption of ESaaS, driven by the need for reliable power supply. The pandemic has heightened awareness of the vulnerabilities in traditional energy systems, spurring interest in flexible and decentralized energy storage solutions. Overall, the market has shown resilience, with the potential for future growth as the world transitions towards sustainable energy practices.
The bulk energy services segment is expected to be the largest during the forecast period
The bulk energy services segment in the energy storage as a Service (ESaaS) market is experiencing robust growth due to its ability to provide large-scale energy storage solutions to industries and utilities. As demand for reliable and sustainable energy solutions rises, businesses are increasingly turning to Bulk Energy Services to manage peak demand. This segment's growth is driven by cost-effectiveness, scalability, and the flexibility it offers in adapting to diverse energy needs. Furthermore, by leveraging advanced technologies, such as battery storage systems, Bulk Energy Services contributes significantly to optimizing energy consumption and reducing overall operational costs.
The industrial segment is expected to have the highest CAGR during the forecast period
The industrial segment of the Energy Storage as a Service (ESaaS) market is experiencing significant growth due to increased demand for reliable and sustainable energy solutions. Industries are recognizing the benefits of outsourcing energy storage needs, allowing them to optimize operations while minimizing upfront capital investment. This model aligns with the growing focus on environmental sustainability and cost-effectiveness, making ESaaS an attractive option for industries seeking to reduce carbon footprints and operational expenses. Additionally, the industrial segment's growth is further fuelled by advancements in energy storage technologies and a rising awareness of the long-term economic advantages associated with outsourcing energy storage services.
Region with largest share:
North America has witnessed substantial growth in the Energy Storage as a Service (ESaaS) market due to several factors. Increasing renewable energy adoption, supportive government policies, and a growing focus on sustainability have accelerated the demand for energy storage solutions. The flexibility provided by ESaaS models, allowing businesses to access energy storage without substantial upfront investments, has further fueled market expansion. Additionally, advancements in technology and a rising awareness of the benefits of energy storage for grid stability have also contributed to the region's robust growth in the ESaaS market.
Region with highest CAGR:
The Asia-Pacific region has experienced significant growth in the Energy Storage as a Service (ESaaS) market due to rising demand for sustainable energy solutions and the need for grid stability. Governments in the region are increasingly emphasizing renewable energy integration to efficiently manage intermittent power sources. Additionally, growing awareness of environmental issues and the benefits of energy storage technologies have spurred investments in advanced energy storage solutions. The cost-effectiveness of ESaaS models has further accelerated their uptake in the Asia-Pacific, with businesses recognizing the advantages of outsourcing energy storage services.
Key players in the market
Some of the key players in Energy Storage As A Service market include ABB, Centrica, Customized Energy Solutions, Enel X, ENGIE Storage Services NA LLC, Honeywell International Inc., Hydrostor, Johnson Controls, NRStor Inc., Orsted, Siemens Energy, Suntuity Solar LLC, Veolia, WGL Holdings, Inc. and YSG Solar.
Key Developments:
In December 2023, volytica has announced it will be partnering with Enel X on a number of initiatives in electric bus fleet management, commencing with the deployment of the largest electric fleet of E-buses in Latin America. The new deployment, to take place in Mexico City, will help to demonstrate Enel X and volytica’s software solutions including an innovative battery diagnostics system (BDS) for real-time monitoring.
In October 2023, Hydrostor, a leading global long duration energy storage (LDES) developer and operator, expands its presence with the appointment of Sara Taylor to direct its Government & Regulatory Affairs initiatives in Australia. Sara will play a key role in advancing clean energy policies in the Australian market, with a focus on the deployment of Hydrostor’s Advanced Compressed Air Energy Storage (A-CAES) technology.
Services Covered:
• Ancillary Services
• Transmission Infrastructure Services
• Bulk Energy Services
• Distribution Infrastructure Services
• Customer Energy Management Services
• Other Services
Components Covered:
• Control and Monitoring System
• Service Contract
• Energy Storage System
• Other Components
End Users Covered:
• Industrial
• Utility
• Residential
• Commercial
• 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 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 End User 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 Energy Storage As A Service Market, By Service
5.1 Introduction
5.2 Ancillary Services
5.3 Transmission Infrastructure Services
5.4 Bulk Energy Services
5.5 Distribution Infrastructure Services
5.6 Customer Energy Management Services
5.7 Other Services
6 Global Energy Storage As A Service Market, By Component
6.1 Introduction
6.2 Control and Monitoring System
6.3 Service Contract
6.4 Energy Storage System
6.5 Other Components
7 Global Energy Storage As A Service Market, By End User
7.1 Introduction
7.2 Industrial
7.3 Utility
7.4 Residential
7.5 Commercial
7.6 Other End Users
8 Global Energy Storage As A Service Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 ABB
10.2 Centrica
10.3 Customized Energy Solutions
10.4 Enel X
10.5 ENGIE Storage Services NA LLC.
10.6 Honeywell International Inc.
10.7 Hydrostor
10.8 Johnson Controls
10.9 NRStor Inc.
10.10 Orsted
10.11 Siemens Energy
10.12 Suntuity Solar LLC
10.13 Veolia
10.14 WGL Holdings, Inc.
10.15 YSG Solar
List of Tables
1 Global Energy Storage As A Service Market Outlook, By Region (2021-2030) ($MN)
2 Global Energy Storage As A Service Market Outlook, By Service (2021-2030) ($MN)
3 Global Energy Storage As A Service Market Outlook, By Ancillary Services (2021-2030) ($MN)
4 Global Energy Storage As A Service Market Outlook, By Transmission Infrastructure Services (2021-2030) ($MN)
5 Global Energy Storage As A Service Market Outlook, By Bulk Energy Services (2021-2030) ($MN)
6 Global Energy Storage As A Service Market Outlook, By Distribution Infrastructure Services (2021-2030) ($MN)
7 Global Energy Storage As A Service Market Outlook, By Customer Energy Management Services (2021-2030) ($MN)
8 Global Energy Storage As A Service Market Outlook, By Other Services (2021-2030) ($MN)
9 Global Energy Storage As A Service Market Outlook, By Component (2021-2030) ($MN)
10 Global Energy Storage As A Service Market Outlook, By Control and Monitoring System (2021-2030) ($MN)
11 Global Energy Storage As A Service Market Outlook, By Service Contract (2021-2030) ($MN)
12 Global Energy Storage As A Service Market Outlook, By Energy Storage System (2021-2030) ($MN)
13 Global Energy Storage As A Service Market Outlook, By Other Components (2021-2030) ($MN)
14 Global Energy Storage As A Service Market Outlook, By End User (2021-2030) ($MN)
15 Global Energy Storage As A Service Market Outlook, By Industrial (2021-2030) ($MN)
16 Global Energy Storage As A Service Market Outlook, By Utility (2021-2030) ($MN)
17 Global Energy Storage As A Service Market Outlook, By Residential (2021-2030) ($MN)
18 Global Energy Storage As A Service Market Outlook, By Commercial (2021-2030) ($MN)
19 Global Energy Storage As A Service Market Outlook, By Other End Users (2021-2030) ($MN)
20 North America Energy Storage As A Service Market Outlook, By Country (2021-2030) ($MN)
21 North America Energy Storage As A Service Market Outlook, By Service (2021-2030) ($MN)
22 North America Energy Storage As A Service Market Outlook, By Ancillary Services (2021-2030) ($MN)
23 North America Energy Storage As A Service Market Outlook, By Transmission Infrastructure Services (2021-2030) ($MN)
24 North America Energy Storage As A Service Market Outlook, By Bulk Energy Services (2021-2030) ($MN)
25 North America Energy Storage As A Service Market Outlook, By Distribution Infrastructure Services (2021-2030) ($MN)
26 North America Energy Storage As A Service Market Outlook, By Customer Energy Management Services (2021-2030) ($MN)
27 North America Energy Storage As A Service Market Outlook, By Other Services (2021-2030) ($MN)
28 North America Energy Storage As A Service Market Outlook, By Component (2021-2030) ($MN)
29 North America Energy Storage As A Service Market Outlook, By Control and Monitoring System (2021-2030) ($MN)
30 North America Energy Storage As A Service Market Outlook, By Service Contract (2021-2030) ($MN)
31 North America Energy Storage As A Service Market Outlook, By Energy Storage System (2021-2030) ($MN)
32 North America Energy Storage As A Service Market Outlook, By Other Components (2021-2030) ($MN)
33 North America Energy Storage As A Service Market Outlook, By End User (2021-2030) ($MN)
34 North America Energy Storage As A Service Market Outlook, By Industrial (2021-2030) ($MN)
35 North America Energy Storage As A Service Market Outlook, By Utility (2021-2030) ($MN)
36 North America Energy Storage As A Service Market Outlook, By Residential (2021-2030) ($MN)
37 North America Energy Storage As A Service Market Outlook, By Commercial (2021-2030) ($MN)
38 North America Energy Storage As A Service Market Outlook, By Other End Users (2021-2030) ($MN)
39 Europe Energy Storage As A Service Market Outlook, By Country (2021-2030) ($MN)
40 Europe Energy Storage As A Service Market Outlook, By Service (2021-2030) ($MN)
41 Europe Energy Storage As A Service Market Outlook, By Ancillary Services (2021-2030) ($MN)
42 Europe Energy Storage As A Service Market Outlook, By Transmission Infrastructure Services (2021-2030) ($MN)
43 Europe Energy Storage As A Service Market Outlook, By Bulk Energy Services (2021-2030) ($MN)
44 Europe Energy Storage As A Service Market Outlook, By Distribution Infrastructure Services (2021-2030) ($MN)
45 Europe Energy Storage As A Service Market Outlook, By Customer Energy Management Services (2021-2030) ($MN)
46 Europe Energy Storage As A Service Market Outlook, By Other Services (2021-2030) ($MN)
47 Europe Energy Storage As A Service Market Outlook, By Component (2021-2030) ($MN)
48 Europe Energy Storage As A Service Market Outlook, By Control and Monitoring System (2021-2030) ($MN)
49 Europe Energy Storage As A Service Market Outlook, By Service Contract (2021-2030) ($MN)
50 Europe Energy Storage As A Service Market Outlook, By Energy Storage System (2021-2030) ($MN)
51 Europe Energy Storage As A Service Market Outlook, By Other Components (2021-2030) ($MN)
52 Europe Energy Storage As A Service Market Outlook, By End User (2021-2030) ($MN)
53 Europe Energy Storage As A Service Market Outlook, By Industrial (2021-2030) ($MN)
54 Europe Energy Storage As A Service Market Outlook, By Utility (2021-2030) ($MN)
55 Europe Energy Storage As A Service Market Outlook, By Residential (2021-2030) ($MN)
56 Europe Energy Storage As A Service Market Outlook, By Commercial (2021-2030) ($MN)
57 Europe Energy Storage As A Service Market Outlook, By Other End Users (2021-2030) ($MN)
58 Asia Pacific Energy Storage As A Service Market Outlook, By Country (2021-2030) ($MN)
59 Asia Pacific Energy Storage As A Service Market Outlook, By Service (2021-2030) ($MN)
60 Asia Pacific Energy Storage As A Service Market Outlook, By Ancillary Services (2021-2030) ($MN)
61 Asia Pacific Energy Storage As A Service Market Outlook, By Transmission Infrastructure Services (2021-2030) ($MN)
62 Asia Pacific Energy Storage As A Service Market Outlook, By Bulk Energy Services (2021-2030) ($MN)
63 Asia Pacific Energy Storage As A Service Market Outlook, By Distribution Infrastructure Services (2021-2030) ($MN)
64 Asia Pacific Energy Storage As A Service Market Outlook, By Customer Energy Management Services (2021-2030) ($MN)
65 Asia Pacific Energy Storage As A Service Market Outlook, By Other Services (2021-2030) ($MN)
66 Asia Pacific Energy Storage As A Service Market Outlook, By Component (2021-2030) ($MN)
67 Asia Pacific Energy Storage As A Service Market Outlook, By Control and Monitoring System (2021-2030) ($MN)
68 Asia Pacific Energy Storage As A Service Market Outlook, By Service Contract (2021-2030) ($MN)
69 Asia Pacific Energy Storage As A Service Market Outlook, By Energy Storage System (2021-2030) ($MN)
70 Asia Pacific Energy Storage As A Service Market Outlook, By Other Components (2021-2030) ($MN)
71 Asia Pacific Energy Storage As A Service Market Outlook, By End User (2021-2030) ($MN)
72 Asia Pacific Energy Storage As A Service Market Outlook, By Industrial (2021-2030) ($MN)
73 Asia Pacific Energy Storage As A Service Market Outlook, By Utility (2021-2030) ($MN)
74 Asia Pacific Energy Storage As A Service Market Outlook, By Residential (2021-2030) ($MN)
75 Asia Pacific Energy Storage As A Service Market Outlook, By Commercial (2021-2030) ($MN)
76 Asia Pacific Energy Storage As A Service Market Outlook, By Other End Users (2021-2030) ($MN)
77 South America Energy Storage As A Service Market Outlook, By Country (2021-2030) ($MN)
78 South America Energy Storage As A Service Market Outlook, By Service (2021-2030) ($MN)
79 South America Energy Storage As A Service Market Outlook, By Ancillary Services (2021-2030) ($MN)
80 South America Energy Storage As A Service Market Outlook, By Transmission Infrastructure Services (2021-2030) ($MN)
81 South America Energy Storage As A Service Market Outlook, By Bulk Energy Services (2021-2030) ($MN)
82 South America Energy Storage As A Service Market Outlook, By Distribution Infrastructure Services (2021-2030) ($MN)
83 South America Energy Storage As A Service Market Outlook, By Customer Energy Management Services (2021-2030) ($MN)
84 South America Energy Storage As A Service Market Outlook, By Other Services (2021-2030) ($MN)
85 South America Energy Storage As A Service Market Outlook, By Component (2021-2030) ($MN)
86 South America Energy Storage As A Service Market Outlook, By Control and Monitoring System (2021-2030) ($MN)
87 South America Energy Storage As A Service Market Outlook, By Service Contract (2021-2030) ($MN)
88 South America Energy Storage As A Service Market Outlook, By Energy Storage System (2021-2030) ($MN)
89 South America Energy Storage As A Service Market Outlook, By Other Components (2021-2030) ($MN)
90 South America Energy Storage As A Service Market Outlook, By End User (2021-2030) ($MN)
91 South America Energy Storage As A Service Market Outlook, By Industrial (2021-2030) ($MN)
92 South America Energy Storage As A Service Market Outlook, By Utility (2021-2030) ($MN)
93 South America Energy Storage As A Service Market Outlook, By Residential (2021-2030) ($MN)
94 South America Energy Storage As A Service Market Outlook, By Commercial (2021-2030) ($MN)
95 South America Energy Storage As A Service Market Outlook, By Other End Users (2021-2030) ($MN)
96 Middle East & Africa Energy Storage As A Service Market Outlook, By Country (2021-2030) ($MN)
97 Middle East & Africa Energy Storage As A Service Market Outlook, By Service (2021-2030) ($MN)
98 Middle East & Africa Energy Storage As A Service Market Outlook, By Ancillary Services (2021-2030) ($MN)
99 Middle East & Africa Energy Storage As A Service Market Outlook, By Transmission Infrastructure Services (2021-2030) ($MN)
100 Middle East & Africa Energy Storage As A Service Market Outlook, By Bulk Energy Services (2021-2030) ($MN)
101 Middle East & Africa Energy Storage As A Service Market Outlook, By Distribution Infrastructure Services (2021-2030) ($MN)
102 Middle East & Africa Energy Storage As A Service Market Outlook, By Customer Energy Management Services (2021-2030) ($MN)
103 Middle East & Africa Energy Storage As A Service Market Outlook, By Other Services (2021-2030) ($MN)
104 Middle East & Africa Energy Storage As A Service Market Outlook, By Component (2021-2030) ($MN)
105 Middle East & Africa Energy Storage As A Service Market Outlook, By Control and Monitoring System (2021-2030) ($MN)
106 Middle East & Africa Energy Storage As A Service Market Outlook, By Service Contract (2021-2030) ($MN)
107 Middle East & Africa Energy Storage As A Service Market Outlook, By Energy Storage System (2021-2030) ($MN)
108 Middle East & Africa Energy Storage As A Service Market Outlook, By Other Components (2021-2030) ($MN)
109 Middle East & Africa Energy Storage As A Service Market Outlook, By End User (2021-2030) ($MN)
110 Middle East & Africa Energy Storage As A Service Market Outlook, By Industrial (2021-2030) ($MN)
111 Middle East & Africa Energy Storage As A Service Market Outlook, By Utility (2021-2030) ($MN)
112 Middle East & Africa Energy Storage As A Service Market Outlook, By Residential (2021-2030) ($MN)
113 Middle East & Africa Energy Storage As A Service Market Outlook, By Commercial (2021-2030) ($MN)
114 Middle East & Africa Energy Storage As A Service Market Outlook, By Other End Users (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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