Fog Networking Market
Fog Networking Market Forecasts to 2028 - Global Analysis By Component (Hardware and Software), Application (Smart Meter, Smart Energy, Building and Home Automation, Smart Manufacturing, Connected Healthcare, Security & Emergencies, Transportation & Logistics and Other Applications) and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $1.02 BN |
|
Projected Year Value (2028) |
US $2.78 BN |
|
CAGR (2022 - 2028) |
18.2% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia-Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Fog Networking Market is accounted for $1.02 billion in 2022 and is expected to reach $2.78 billion by 2028 growing at a CAGR of 18.2% during the forecast period. Fog Networking is a computing platform that extends additional computation, storage, and networking resources that are situated between the data source and the cloud, often referred to as fog networking. In the context of augmented reality (AR) and the internet of things (IoT), where a significant volume of data is generated and would be impractical to send to cloud services for analysis, fog computing offers reduced network latencies between end-user devices. Industry use of the fog computing concept is widespread since it speeds up data transmission while integrating cloud resources close to the devices. Fog computing attempts to meet low-latency needs, reduce end-device power consumption, process data in real-time, and localize computing resources for data.
According to IDC, 43 percent of all IoT data will be processed at the edge before being sent to a data centre by 2019, further boosting fog computing and edge computing. And when looking at the impact of IoT on IT infrastructure, 451 Research sees that most organizations today process IoT workloads at the edge to enhance security, process real-time operational action triggers, and reduce IoT data storage and transport requirements.
Market Dynamics:
Driver:
Increase in usage of fog computing in connected cars technology
Over the past few years, there has been an increase in the use of fog computing solutions to support the development of connected cars. The interactions and communication between connected automobiles, as well as between connected cars and access points, are extensive. Fog computing enables a number of properties that make it the perfect platform for offering a variety of services for smart connected cars (SCV), including those for mobility and location awareness, real-time interactions, low latency, and traffic support. Real-time AI processing is a development of virtual reality, with the majority of information recovery and processing being sent to connected devices such as associated phones, smart home storage, and the cloud. Fog architecture helps these devices with intelligent location hierarchy to locate and analyze data.
Restraint:
Security concerns and compatibility issues
As fog computing moves data processing closer to the edge of the network, it also increases the attack surface for potential cyber attacks. This can make it challenging to secure the network and ensure data privacy. Fog computing requires a significant amount of coordination between different hardware and software components, which may pose compatibility issues and increase complexity. The distributed nature of fog computing can make it difficult to scale the network and manage resources effectively. This can result in performance degradation and decreased efficiency, which are projected to impede the fog computing market's growth.
Opportunity:
Evolution of 5G technology
The development of 5G technology has fueled the expansion of edge computing data architectures with minimal latency problems and dependable bandwidth performance. The Internet of Everything (IoE) requires faster data analytics and quicker response times, which is another factor driving the market for fog computing. For instance, Fujitsu announced a partnership with leading technology companies like Cisco Systems, Microsoft, Dell, ARM, Intel, and the Princeton University Edge Laboratory in order to hasten the development of key technologies for fog computing.
Threat:
Lack of fog computing technology skills
Planning and expertise in a variety of sectors are necessary for the proper execution of Fog Networking. The global Fog Networking market's revenue growth is largely being held back by a lack of awareness and a shortage of experienced personnel in developing nations. Knowledge of the technique's implementation, not just the practice itself, is necessary for its adoption. Fog computing is a complex technology that requires knowledge in areas such as networking, security, and data analytics. This can make it challenging to find individuals who possess the necessary skills and expertise.
Covid-19 Impact:
The COVID-19 pandemic epidemic had a impact on the Fog Networking Market. Since the Corona virus outbreak, nearly every industry has moved toward automation and digitization, and more individuals are working from home. As a result, organizations have relocated their workloads to the cloud to maintain corporate operations. In order for the firms to operate effectively after COVID-19, it is now anticipated that they will spend more on IT infrastructure for business applications and customer support services globally. Digitalization, cloud computing, machine learning, and artificial intelligence are predicted to take over the technology industry in the upcoming years, and investors are preparing long-term investment strategies in this field.
The Software segment is expected to be the largest during the forecast period
Fog computing platforms are software platforms that provide a range of services and tools to support the development, deployment, and management of fog computing applications. and Edge analytics software can help organizations make faster and more informed decisions based on real-time data. It provides security and data privacy features for fog computing infrastructure that runs on fog computing infrastructure and provides specific functionalities or services to end-users. The fog computing software market is expected to continue to be the largest in the coming years as more organizations seek to leverage this technology to improve their operations and enhance their offerings to customers. As such, there is likely to be increasing innovation and competition in the market, with new software products and services emerging to meet evolving customer needs, which could be a major contributor to this segment's revenue growth.
The Smart meter segment is expected to have the highest CAGR during the forecast period
Smart meter to witness higher growth it is an electronic device that records the consumption of electrical energy units and communicates it to the power company from which the power is supplied. Many power companies across the world are planning to adopt smart meters to remotely monitor consumers' energy consumption and prevent fraudulent energy consumption. Moreover, smart energy and metering solutions are becoming more prevalent in both businesses and households. The data collected by smart meters is sufficient to draw inferences about the behavior, sleeping cycle, home occupancy, eating routines, etc. of the consumers. However, for it to make sense, the data needs to be analyzed in real-time. The data collected per household can be used by various organizations. For instance, an electric or power company can sell its products or services based on the energy units consumed, which will help the Fog Networking (IPM) market, expand throughout the forecast period.
Region with largest share:
In terms of revenue share, the Asia Pacific region dominated the global market in 2021, and it is anticipated that this dominance will last throughout the projected period. In order to expand their networks across this region, well-known companies, including China Unicom, NTT Docomo, SK Telecom, and KT Corporation, among others, have been boosting their investments. These initiatives are intended to give customers access to high-speed internet. Additionally, Asia Pacific has seen a sharp rise in demand for mobile data services, which is expected to fuel the expansion of the regional market over the coming years. Due to early adoption of technologies like fog networking among businesses headquartered in North America, the region will hold more than 20% of the global industry share in 2021.
Region with highest CAGR:
During the forecast period, North America is anticipated to grow strongly. In North America, Fog Networking is mostly employed in the industrial, commercial, and agricultural sectors to prevent and control insect problems. In addition, it is employed as an emulsifier in pesticides and herbicides, which are frequently applied in industrial, public health, and agricultural settings as well as to eradicate termites and roaches in homes. North America uses agricultural mulch films to control weeds, as well as screens to keep insects and birds out and soil steam sterilization to fight disease. Traps, screens, fences, nets, and obstacles are additional tools used in Fog Networking in North America.
Key players in the market
Some of the key players in Fog Networking market include ADLINK Technology Inc., Amazon Web Services, Inc., Arm Limited, Cisco Systems, Inc., Cradlepoint, Inc., Dell Technologies, Inc., Ericsson, FogHorn Systems., Fujitsu Ltd., General Electric Company, Hewlett-Packard (HP), IBM Corporation, Intel Corporation, Linksys, Nebbiolo Technologies, Inc., Nokia Corporation, Prism Tech, Qualcomm Corporation, Schneider Electric, Tata Consultancy Services Limited and Toshiba Corporation
Key Developments:
In April 2018, Amazon developed a technology to bring machine learning smarts to edge computing, through AWS Green grass. The latest version (v1.5.0) can run Apache MXNet and Tensor Flow Lite models locally on edge devices based on NVIDIA Jetson TX2 and Intel Atom architectures.
In June 2016, Cisco released IOx, an application enablement platform that provides uniform and consistent hosting capabilities for various types of apps across various Cisco platforms in fog computing.
In April 2016, Fujitsu announced that it is working with Microsoft, ARM, Cisco, Dell, Intel, and the Princeton University Edge Laboratory to form a consortium that aims to speed up the development of core technologies for fog computing.
In March 2016, Prism Tech announced Vortex 2.1, a set of the most comprehensive, real-time data sharing platforms for IoT, which also support fog computing, with the name Vortex Fog.
Components Covered:
• Hardware
• Software
Applications Covered:
• Smart Meter
• Smart Energy
• Building and Home Automation
• Smart Manufacturing
• Connected Healthcare
• Security & Emergencies
• Transportation & Logistics
• 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 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
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 Fog Networking Market, By Component
5.1 Introduction
5.2 Hardware
5.2.1 Servers
5.2.2 Routers
5.2.3 Switches
5.2.4 Controller
5.2.5 Gateways
5.3 Software
5.3.1 Fog Computing Platform
5.3.2 Customized Application Software
6 Global Fog Networking Market, By Application
6.1 Introduction
6.2 Smart Meter
6.3 Smart Energy
6.4 Building and Home Automation
6.5 Smart Manufacturing
6.6 Connected Healthcare
6.7 Security & Emergencies
6.8 Transportation & Logistics
6.9 Other Applications
7 Global Fog Networking 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 ADLINK Technology Inc.
9.2 Amazon Web Services, Inc.
9.3 Arm Limited
9.4 Cisco Systems, Inc.
9.5 Cradlepoint, Inc.
9.6 Dell Technologies, Inc.
9.7 Ericsson
9.8 FogHorn Systems.
9.9 Fujitsu Ltd.
9.10 General Electric Company
9.11 Hewlett-Packard (HP)
9.12 IBM Corporation
9.13 Intel Corporation
9.14 Linksys
9.15 Nebbiolo Technologies, Inc.
9.16 Nokia Corporation
9.17 Prism Tech
9.18 Qualcomm Corporation
9.19 Schneider Electric
9.20 Tata Consultancy Services Limited
9.21 Toshiba Corporation
List of Tables
1 Global Fog Networking Market Outlook, By Region (2020-2028) ($MN)
2 Global Fog Networking Market Outlook, By Component (2020-2028) ($MN)
3 Global Fog Networking Market Outlook, By Hardware (2020-2028) ($MN)
4 Global Fog Networking Market Outlook, By Servers (2020-2028) ($MN)
5 Global Fog Networking Market Outlook, By Routers (2020-2028) ($MN)
6 Global Fog Networking Market Outlook, By Switches (2020-2028) ($MN)
7 Global Fog Networking Market Outlook, By Controller (2020-2028) ($MN)
8 Global Fog Networking Market Outlook, By Gateways (2020-2028) ($MN)
9 Global Fog Networking Market Outlook, By Software (2020-2028) ($MN)
10 Global Fog Networking Market Outlook, By Fog Computing Platform (2020-2028) ($MN)
11 Global Fog Networking Market Outlook, By Customized Application Software (2020-2028) ($MN)
12 Global Fog Networking Market Outlook, By Application (2020-2028) ($MN)
13 Global Fog Networking Market Outlook, By Smart Meter (2020-2028) ($MN)
14 Global Fog Networking Market Outlook, By Smart Energy (2020-2028) ($MN)
15 Global Fog Networking Market Outlook, By Building and Home Automation (2020-2028) ($MN)
16 Global Fog Networking Market Outlook, By Smart Manufacturing (2020-2028) ($MN)
17 Global Fog Networking Market Outlook, By Connected Healthcare (2020-2028) ($MN)
18 Global Fog Networking Market Outlook, By Security & Emergencies (2020-2028) ($MN)
19 Global Fog Networking Market Outlook, By Transportation & Logistics (2020-2028) ($MN)
20 Global Fog Networking Market Outlook, By Other Applications (2020-2028) ($MN)
21 North America Fog Networking Market Outlook, By Country (2020-2028) ($MN)
22 North America Fog Networking Market Outlook, By Component (2020-2028) ($MN)
23 North America Fog Networking Market Outlook, By Hardware (2020-2028) ($MN)
24 North America Fog Networking Market Outlook, By Servers (2020-2028) ($MN)
25 North America Fog Networking Market Outlook, By Routers (2020-2028) ($MN)
26 North America Fog Networking Market Outlook, By Switches (2020-2028) ($MN)
27 North America Fog Networking Market Outlook, By Controller (2020-2028) ($MN)
28 North America Fog Networking Market Outlook, By Gateways (2020-2028) ($MN)
29 North America Fog Networking Market Outlook, By Software (2020-2028) ($MN)
30 North America Fog Networking Market Outlook, By Fog Computing Platform (2020-2028) ($MN)
31 North America Fog Networking Market Outlook, By Customized Application Software (2020-2028) ($MN)
32 North America Fog Networking Market Outlook, By Application (2020-2028) ($MN)
33 North America Fog Networking Market Outlook, By Smart Meter (2020-2028) ($MN)
34 North America Fog Networking Market Outlook, By Smart Energy (2020-2028) ($MN)
35 North America Fog Networking Market Outlook, By Building and Home Automation (2020-2028) ($MN)
36 North America Fog Networking Market Outlook, By Smart Manufacturing (2020-2028) ($MN)
37 North America Fog Networking Market Outlook, By Connected Healthcare (2020-2028) ($MN)
38 North America Fog Networking Market Outlook, By Security & Emergencies (2020-2028) ($MN)
39 North America Fog Networking Market Outlook, By Transportation & Logistics (2020-2028) ($MN)
40 North America Fog Networking Market Outlook, By Other Applications (2020-2028) ($MN)
41 Europe Fog Networking Market Outlook, By Country (2020-2028) ($MN)
42 Europe Fog Networking Market Outlook, By Component (2020-2028) ($MN)
43 Europe Fog Networking Market Outlook, By Hardware (2020-2028) ($MN)
44 Europe Fog Networking Market Outlook, By Servers (2020-2028) ($MN)
45 Europe Fog Networking Market Outlook, By Routers (2020-2028) ($MN)
46 Europe Fog Networking Market Outlook, By Switches (2020-2028) ($MN)
47 Europe Fog Networking Market Outlook, By Controller (2020-2028) ($MN)
48 Europe Fog Networking Market Outlook, By Gateways (2020-2028) ($MN)
49 Europe Fog Networking Market Outlook, By Software (2020-2028) ($MN)
50 Europe Fog Networking Market Outlook, By Fog Computing Platform (2020-2028) ($MN)
51 Europe Fog Networking Market Outlook, By Customized Application Software (2020-2028) ($MN)
52 Europe Fog Networking Market Outlook, By Application (2020-2028) ($MN)
53 Europe Fog Networking Market Outlook, By Smart Meter (2020-2028) ($MN)
54 Europe Fog Networking Market Outlook, By Smart Energy (2020-2028) ($MN)
55 Europe Fog Networking Market Outlook, By Building and Home Automation (2020-2028) ($MN)
56 Europe Fog Networking Market Outlook, By Smart Manufacturing (2020-2028) ($MN)
57 Europe Fog Networking Market Outlook, By Connected Healthcare (2020-2028) ($MN)
58 Europe Fog Networking Market Outlook, By Security & Emergencies (2020-2028) ($MN)
59 Europe Fog Networking Market Outlook, By Transportation & Logistics (2020-2028) ($MN)
60 Europe Fog Networking Market Outlook, By Other Applications (2020-2028) ($MN)
61 Asia Pacific Fog Networking Market Outlook, By Country (2020-2028) ($MN)
62 Asia Pacific Fog Networking Market Outlook, By Component (2020-2028) ($MN)
63 Asia Pacific Fog Networking Market Outlook, By Hardware (2020-2028) ($MN)
64 Asia Pacific Fog Networking Market Outlook, By Servers (2020-2028) ($MN)
65 Asia Pacific Fog Networking Market Outlook, By Routers (2020-2028) ($MN)
66 Asia Pacific Fog Networking Market Outlook, By Switches (2020-2028) ($MN)
67 Asia Pacific Fog Networking Market Outlook, By Controller (2020-2028) ($MN)
68 Asia Pacific Fog Networking Market Outlook, By Gateways (2020-2028) ($MN)
69 Asia Pacific Fog Networking Market Outlook, By Software (2020-2028) ($MN)
70 Asia Pacific Fog Networking Market Outlook, By Fog Computing Platform (2020-2028) ($MN)
71 Asia Pacific Fog Networking Market Outlook, By Customized Application Software (2020-2028) ($MN)
72 Asia Pacific Fog Networking Market Outlook, By Application (2020-2028) ($MN)
73 Asia Pacific Fog Networking Market Outlook, By Smart Meter (2020-2028) ($MN)
74 Asia Pacific Fog Networking Market Outlook, By Smart Energy (2020-2028) ($MN)
75 Asia Pacific Fog Networking Market Outlook, By Building and Home Automation (2020-2028) ($MN)
76 Asia Pacific Fog Networking Market Outlook, By Smart Manufacturing (2020-2028) ($MN)
77 Asia Pacific Fog Networking Market Outlook, By Connected Healthcare (2020-2028) ($MN)
78 Asia Pacific Fog Networking Market Outlook, By Security & Emergencies (2020-2028) ($MN)
79 Asia Pacific Fog Networking Market Outlook, By Transportation & Logistics (2020-2028) ($MN)
80 Asia Pacific Fog Networking Market Outlook, By Other Applications (2020-2028) ($MN)
81 South America Fog Networking Market Outlook, By Country (2020-2028) ($MN)
82 South America Fog Networking Market Outlook, By Component (2020-2028) ($MN)
83 South America Fog Networking Market Outlook, By Hardware (2020-2028) ($MN)
84 South America Fog Networking Market Outlook, By Servers (2020-2028) ($MN)
85 South America Fog Networking Market Outlook, By Routers (2020-2028) ($MN)
86 South America Fog Networking Market Outlook, By Switches (2020-2028) ($MN)
87 South America Fog Networking Market Outlook, By Controller (2020-2028) ($MN)
88 South America Fog Networking Market Outlook, By Gateways (2020-2028) ($MN)
89 South America Fog Networking Market Outlook, By Software (2020-2028) ($MN)
90 South America Fog Networking Market Outlook, By Fog Computing Platform (2020-2028) ($MN)
91 South America Fog Networking Market Outlook, By Customized Application Software (2020-2028) ($MN)
92 South America Fog Networking Market Outlook, By Application (2020-2028) ($MN)
93 South America Fog Networking Market Outlook, By Smart Meter (2020-2028) ($MN)
94 South America Fog Networking Market Outlook, By Smart Energy (2020-2028) ($MN)
95 South America Fog Networking Market Outlook, By Building and Home Automation (2020-2028) ($MN)
96 South America Fog Networking Market Outlook, By Smart Manufacturing (2020-2028) ($MN)
97 South America Fog Networking Market Outlook, By Connected Healthcare (2020-2028) ($MN)
98 South America Fog Networking Market Outlook, By Security & Emergencies (2020-2028) ($MN)
99 South America Fog Networking Market Outlook, By Transportation & Logistics (2020-2028) ($MN)
100 South America Fog Networking Market Outlook, By Other Applications (2020-2028) ($MN)
101 Middle East & Africa Fog Networking Market Outlook, By Country (2020-2028) ($MN)
102 Middle East & Africa Fog Networking Market Outlook, By Component (2020-2028) ($MN)
103 Middle East & Africa Fog Networking Market Outlook, By Hardware (2020-2028) ($MN)
104 Middle East & Africa Fog Networking Market Outlook, By Servers (2020-2028) ($MN)
105 Middle East & Africa Fog Networking Market Outlook, By Routers (2020-2028) ($MN)
106 Middle East & Africa Fog Networking Market Outlook, By Switches (2020-2028) ($MN)
107 Middle East & Africa Fog Networking Market Outlook, By Controller (2020-2028) ($MN)
108 Middle East & Africa Fog Networking Market Outlook, By Gateways (2020-2028) ($MN)
109 Middle East & Africa Fog Networking Market Outlook, By Software (2020-2028) ($MN)
110 Middle East & Africa Fog Networking Market Outlook, By Fog Computing Platform (2020-2028) ($MN)
111 Middle East & Africa Fog Networking Market Outlook, By Customized Application Software (2020-2028) ($MN)
112 Middle East & Africa Fog Networking Market Outlook, By Application (2020-2028) ($MN)
113 Middle East & Africa Fog Networking Market Outlook, By Smart Meter (2020-2028) ($MN)
114 Middle East & Africa Fog Networking Market Outlook, By Smart Energy (2020-2028) ($MN)
115 Middle East & Africa Fog Networking Market Outlook, By Building and Home Automation (2020-2028) ($MN)
116 Middle East & Africa Fog Networking Market Outlook, By Smart Manufacturing (2020-2028) ($MN)
117 Middle East & Africa Fog Networking Market Outlook, By Connected Healthcare (2020-2028) ($MN)
118 Middle East & Africa Fog Networking Market Outlook, By Security & Emergencies (2020-2028) ($MN)
119 Middle East & Africa Fog Networking Market Outlook, By Transportation & Logistics (2020-2028) ($MN)
120 Middle East & Africa Fog Networking Market Outlook, By Other Applications (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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