Furniture Testing Market
Furniture Testing Market Forecasts to 2030 - Global Analysis By Type (Chemical Testing, Durability Testing, Finish and Surface Testing and Other Types), By Application (Predicting Failures, Enhancing Safety, Improving Durability and Other Applications), End User and By Geography
According to Stratistics MRC, the Global Furniture Testing Market is accounted for $3,079.8 million in 2023 and is expected to reach $5,142.9 million by 2030 growing at a CAGR of 7.6% during the forecast period. Furniture testing is the process of subjecting furniture products to a series of standardized tests and assessments to ensure that they meet safety, durability, and quality standards. These tests are conducted to evaluate the performance and reliability of furniture items, including factors such as structural integrity, resistance to wear and tear, safety, capacity and stability.
According to the statistical data presented by the International Tropical Timber Organization, in 2019, wooden furnishings consumption in Europe reached USD 45.3 billion, 0.6% up from 2018.
Market Dynamics:
Driver:
Increasing consumer awareness of safety and product quality
Growing customer consciousness regarding product quality and safety is a major factor propelling the furniture testing market. Manufacturers and retailers are forced to give quality and compliance top priority as consumers become more aware of their health and demand guarantees that the furniture they buy is sturdy and safe. Customers can feel secure knowing that their furniture purchases are long-lasting and free of hazards because testing guarantees that furniture products meet strict safety and quality standards. In addition to increasing consumer demand for certified and tested furniture, this increased awareness also pushes industry participants to invest in thorough testing in order to meet consumer expectations, which propels market expansion.
Restraint:
Complex testing procedures
Furniture testing frequently requires complex and specialized procedures due to the wide range of diverse materials, designs, and performance criteria involved. Smaller manufacturers or those looking for affordable solutions may find these intricacies especially difficult. Moreover, the cost of hiring qualified staff to administer and interpret the tests has increased. Because of this complexity, testing becomes more time-consuming and expensive, making it difficult for testing labs and manufacturers to stay up-to-date with the rapidly changing industry.
Opportunity:
Rising popularity of online furniture shopping
The furniture testing market is poised for substantial growth due to the growing prevalence of online furniture shopping. The need for trustworthy, vetted, and certified products is growing as more customers choose to buy furniture online. The necessity of rigorous testing and quality control to guarantee consumers the longevity and safety of their purchases is underscored by this trend. To build consumer trust, stand out in a crowded market, and make sure manufacturers and online retailers follow rules and regulations, furniture testing labs can be indispensable. This opportunity supports safer and more transparent online furniture shopping experiences by fostering the growth of the testing industry.
Threat:
Environmental and sustainability concerns
Concerns about sustainability and the environment could pose a threat to the furniture testing industry. Environmentally responsible practices and materials are becoming more important as the furniture industry responds to the growing global emphasis on sustainability and eco-friendliness. New standards for furniture testing need to be included, like evaluating a product's sustainability, recyclability, and effect on the environment. These extra requirements may make testing more difficult and expensive, which could be problematic for retailers and manufacturers as it restricts their ability to expand into new markets.
Covid-19 Impact:
The COVID-19 pandemic had a substantial impact on the market. Lockdowns, supply chain disruptions, and economic uncertainties led to reduced consumer demand for furniture, affecting the production and sales of furniture products. As a result, furniture manufacturers and retailers faced financial constraints and sought to reduce costs, potentially affecting their investment in testing and certification services. Additionally, restrictions on physical presence and on-site inspections posed challenges for testing laboratories.
The durability testing segment is expected to be the largest during the forecast period
Over the course of the forecast period, durability testing is anticipated to be the largest segment in the furniture testing market. The necessity of making sure furniture products can endure regular use and retain their structural integrity over time is what drives their prominence. Customers are looking for furniture that is both long-lasting and of high quality. As a result, there will probably be a continued need for extensive durability testing, which will increase this market segment's prominence.
The interior designers and architects segment is expected to have the highest CAGR during the forecast period
Over the course of the forecast period, the interior designers and architects is anticipated to grow at the fastest rate in the market. This growth is attributed to the increasing emphasis on creating aesthetically pleasing and functional spaces. Interior designers and architects play a pivotal role in specifying and recommending furniture for various projects, necessitating rigorous testing to ensure compliance with safety, quality, and design requirements. Their influence in shaping the selection of furniture and the demand for specialized, customized solutions are driving the need for comprehensive testing services, making this segment a key driver of growth in the market.
Region with largest share:
North America is expected to register the largest market share in the furniture testing industry. North America has a well-established and mature furniture market, characterized by high consumer demand for a wide range of furniture products. Moreover, stringent safety and quality regulations and standards drive the need for comprehensive furniture testing and certification services. The presence of numerous furniture manufacturers and retailers, coupled with a strong emphasis on consumer safety and product quality, underpins the significant demand for testing services in North America.
Region with highest CAGR:
The Asia Pacific region is poised for substantial growth in the market. Asia Pacific is experiencing robust economic expansion, urbanization, and a burgeoning middle-class population, driving increased demand for a wide variety of furniture products. As consumers become more quality-conscious, there is a heightened focus on safety and durability standards, thus spurring the need for comprehensive furniture testing services. Additionally, with a rapidly evolving consumer market and increasing regulatory scrutiny, Asia Pacific is set to play a pivotal role in the future of the global furniture testing industry.
Key players in the market
Some of the key players in Furniture Testing Market include Applus+ Laboratories, Bureau Veritas Group, Eurofins Scientific SE, FIRA International, Global Testing Corporation, Intertek Group Plc, Micom Laboratories, QAI Laboratories, QIMA, QPS Evaluation Services Inc., SGS North America Inc., Testex, TÜV SÜD and UL LLC.
Key Developments:
In November 2023, Bureau Veritas and the British Board of Agrément (BBA), a UK certification body for construction products, join forces to deliver dual CE and UKCA marking to manufacturers of construction products according to EU and UKCA Construction Products Regulations.
In September 2023, EAS’ laboratory in Columbia, Missouri has expanded its instrumentation to include the Mastersizer 3000 Particle Size Analyzer. This best-in-class analyzer enables the onsite Product Chemistry team to now conduct in-house analyses following guidelines OPPTS 830.7520, CIPAC MT 187, and OECD 110 for particle size distribution, fiber length and diameter distributions. The Mastersizer 3000 will provide quicker turnaround times for analyses under these guidelines, which are required for Technical Grade Active Ingredient (TGAI) and End Use Product (EUP) for EPA submission.
In June 2023, Applus+, a global leader in the testing, inspection and certification (TIC) sector, is pleased to announce the acquisition of the entire share capital of Rescoll, a leading materials testing and R&D technological partner based in France.
Types Covered:
• Chemical Testing
• Durability Testing
• Finish and Surface Testing
• Flammability Testing
• Mattress Testing
• Safety and Stability Testing
• Vibration and Shock Testing
• Weight Capacity Testing
• Other Types
Applications Covered:
• Predicting Failures
• Enhancing Safety
• Improving Durability
• Other Applications
End Users Covered:
• Furniture Manufacturers
• Commercial and Industrial Facilities
• Interior Designers and Architects
• 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 Application 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 Furniture Testing Market, By Type
5.1 Introduction
5.2 Chemical Testing
5.3 Durability Testing
5.4 Finish and Surface Testing
5.5 Flammability Testing
5.6 Safety and Stability Testing
5.7 Vibration and Shock Testing
5.8 Weight Capacity Testing
5.9 Other Types
6 Global Furniture Testing Market, By Application
6.1 Introduction
6.2 Predicting Failures
6.3 Enhancing Safety
6.4 Improving Durability
6.5 Other Applications
7 Global Furniture Testing Market, By End User
7.1 Introduction
7.2 Furniture Manufacturers
7.3 Commercial and Industrial Facilities
7.4 Interior Designers and Architects
7.5 Other End Users
8 Global Furniture Testing 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 Applus+ Laboratories
10.2 Bureau Veritas Group
10.3 Eurofins Scientific SE
10.4 FIRA International
10.5 Global Testing Corporation
10.6 Intertek Group Plc
10.7 Micom Laboratories
10.8 QAI Laboratories
10.9 QIMA
10.10 QPS Evaluation Services Inc.
10.11 SGS North America Inc.
10.12 Testex
10.13 TÜV SÜD
10.14 UL LLC
List of Tables
1 Global Furniture Testing Market Outlook, By Region (2021-2030) ($MN)
2 Global Furniture Testing Market Outlook, By Type (2021-2030) ($MN)
3 Global Furniture Testing Market Outlook, By Chemical Testing (2021-2030) ($MN)
4 Global Furniture Testing Market Outlook, By Durability Testing (2021-2030) ($MN)
5 Global Furniture Testing Market Outlook, By Finish and Surface Testing (2021-2030) ($MN)
6 Global Furniture Testing Market Outlook, By Flammability Testing (2021-2030) ($MN)
7 Global Furniture Testing Market Outlook, By Safety and Stability Testing (2021-2030) ($MN)
8 Global Furniture Testing Market Outlook, By Vibration and Shock Testing (2021-2030) ($MN)
9 Global Furniture Testing Market Outlook, By Weight Capacity Testing (2021-2030) ($MN)
10 Global Furniture Testing Market Outlook, By Other Types (2021-2030) ($MN)
11 Global Furniture Testing Market Outlook, By Application (2021-2030) ($MN)
12 Global Furniture Testing Market Outlook, By Predicting Failures (2021-2030) ($MN)
13 Global Furniture Testing Market Outlook, By Enhancing Safety (2021-2030) ($MN)
14 Global Furniture Testing Market Outlook, By Improving Durability (2021-2030) ($MN)
15 Global Furniture Testing Market Outlook, By Other Applications (2021-2030) ($MN)
16 Global Furniture Testing Market Outlook, By End User (2021-2030) ($MN)
17 Global Furniture Testing Market Outlook, By Furniture Manufacturers (2021-2030) ($MN)
18 Global Furniture Testing Market Outlook, By Commercial and Industrial Facilities (2021-2030) ($MN)
19 Global Furniture Testing Market Outlook, By Interior Designers and Architects (2021-2030) ($MN)
20 Global Furniture Testing Market Outlook, By Other End Users (2021-2030) ($MN)
21 North America Furniture Testing Market Outlook, By Country (2021-2030) ($MN)
22 North America Furniture Testing Market Outlook, By Type (2021-2030) ($MN)
23 North America Furniture Testing Market Outlook, By Chemical Testing (2021-2030) ($MN)
24 North America Furniture Testing Market Outlook, By Durability Testing (2021-2030) ($MN)
25 North America Furniture Testing Market Outlook, By Finish and Surface Testing (2021-2030) ($MN)
26 North America Furniture Testing Market Outlook, By Flammability Testing (2021-2030) ($MN)
27 North America Furniture Testing Market Outlook, By Safety and Stability Testing (2021-2030) ($MN)
28 North America Furniture Testing Market Outlook, By Vibration and Shock Testing (2021-2030) ($MN)
29 North America Furniture Testing Market Outlook, By Weight Capacity Testing (2021-2030) ($MN)
30 North America Furniture Testing Market Outlook, By Other Types (2021-2030) ($MN)
31 North America Furniture Testing Market Outlook, By Application (2021-2030) ($MN)
32 North America Furniture Testing Market Outlook, By Predicting Failures (2021-2030) ($MN)
33 North America Furniture Testing Market Outlook, By Enhancing Safety (2021-2030) ($MN)
34 North America Furniture Testing Market Outlook, By Improving Durability (2021-2030) ($MN)
35 North America Furniture Testing Market Outlook, By Other Applications (2021-2030) ($MN)
36 North America Furniture Testing Market Outlook, By End User (2021-2030) ($MN)
37 North America Furniture Testing Market Outlook, By Furniture Manufacturers (2021-2030) ($MN)
38 North America Furniture Testing Market Outlook, By Commercial and Industrial Facilities (2021-2030) ($MN)
39 North America Furniture Testing Market Outlook, By Interior Designers and Architects (2021-2030) ($MN)
40 North America Furniture Testing Market Outlook, By Other End Users (2021-2030) ($MN)
41 Europe Furniture Testing Market Outlook, By Country (2021-2030) ($MN)
42 Europe Furniture Testing Market Outlook, By Type (2021-2030) ($MN)
43 Europe Furniture Testing Market Outlook, By Chemical Testing (2021-2030) ($MN)
44 Europe Furniture Testing Market Outlook, By Durability Testing (2021-2030) ($MN)
45 Europe Furniture Testing Market Outlook, By Finish and Surface Testing (2021-2030) ($MN)
46 Europe Furniture Testing Market Outlook, By Flammability Testing (2021-2030) ($MN)
47 Europe Furniture Testing Market Outlook, By Safety and Stability Testing (2021-2030) ($MN)
48 Europe Furniture Testing Market Outlook, By Vibration and Shock Testing (2021-2030) ($MN)
49 Europe Furniture Testing Market Outlook, By Weight Capacity Testing (2021-2030) ($MN)
50 Europe Furniture Testing Market Outlook, By Other Types (2021-2030) ($MN)
51 Europe Furniture Testing Market Outlook, By Application (2021-2030) ($MN)
52 Europe Furniture Testing Market Outlook, By Predicting Failures (2021-2030) ($MN)
53 Europe Furniture Testing Market Outlook, By Enhancing Safety (2021-2030) ($MN)
54 Europe Furniture Testing Market Outlook, By Improving Durability (2021-2030) ($MN)
55 Europe Furniture Testing Market Outlook, By Other Applications (2021-2030) ($MN)
56 Europe Furniture Testing Market Outlook, By End User (2021-2030) ($MN)
57 Europe Furniture Testing Market Outlook, By Furniture Manufacturers (2021-2030) ($MN)
58 Europe Furniture Testing Market Outlook, By Commercial and Industrial Facilities (2021-2030) ($MN)
59 Europe Furniture Testing Market Outlook, By Interior Designers and Architects (2021-2030) ($MN)
60 Europe Furniture Testing Market Outlook, By Other End Users (2021-2030) ($MN)
61 Asia Pacific Furniture Testing Market Outlook, By Country (2021-2030) ($MN)
62 Asia Pacific Furniture Testing Market Outlook, By Type (2021-2030) ($MN)
63 Asia Pacific Furniture Testing Market Outlook, By Chemical Testing (2021-2030) ($MN)
64 Asia Pacific Furniture Testing Market Outlook, By Durability Testing (2021-2030) ($MN)
65 Asia Pacific Furniture Testing Market Outlook, By Finish and Surface Testing (2021-2030) ($MN)
66 Asia Pacific Furniture Testing Market Outlook, By Flammability Testing (2021-2030) ($MN)
67 Asia Pacific Furniture Testing Market Outlook, By Safety and Stability Testing (2021-2030) ($MN)
68 Asia Pacific Furniture Testing Market Outlook, By Vibration and Shock Testing (2021-2030) ($MN)
69 Asia Pacific Furniture Testing Market Outlook, By Weight Capacity Testing (2021-2030) ($MN)
70 Asia Pacific Furniture Testing Market Outlook, By Other Types (2021-2030) ($MN)
71 Asia Pacific Furniture Testing Market Outlook, By Application (2021-2030) ($MN)
72 Asia Pacific Furniture Testing Market Outlook, By Predicting Failures (2021-2030) ($MN)
73 Asia Pacific Furniture Testing Market Outlook, By Enhancing Safety (2021-2030) ($MN)
74 Asia Pacific Furniture Testing Market Outlook, By Improving Durability (2021-2030) ($MN)
75 Asia Pacific Furniture Testing Market Outlook, By Other Applications (2021-2030) ($MN)
76 Asia Pacific Furniture Testing Market Outlook, By End User (2021-2030) ($MN)
77 Asia Pacific Furniture Testing Market Outlook, By Furniture Manufacturers (2021-2030) ($MN)
78 Asia Pacific Furniture Testing Market Outlook, By Commercial and Industrial Facilities (2021-2030) ($MN)
79 Asia Pacific Furniture Testing Market Outlook, By Interior Designers and Architects (2021-2030) ($MN)
80 Asia Pacific Furniture Testing Market Outlook, By Other End Users (2021-2030) ($MN)
81 South America Furniture Testing Market Outlook, By Country (2021-2030) ($MN)
82 South America Furniture Testing Market Outlook, By Type (2021-2030) ($MN)
83 South America Furniture Testing Market Outlook, By Chemical Testing (2021-2030) ($MN)
84 South America Furniture Testing Market Outlook, By Durability Testing (2021-2030) ($MN)
85 South America Furniture Testing Market Outlook, By Finish and Surface Testing (2021-2030) ($MN)
86 South America Furniture Testing Market Outlook, By Flammability Testing (2021-2030) ($MN)
87 South America Furniture Testing Market Outlook, By Safety and Stability Testing (2021-2030) ($MN)
88 South America Furniture Testing Market Outlook, By Vibration and Shock Testing (2021-2030) ($MN)
89 South America Furniture Testing Market Outlook, By Weight Capacity Testing (2021-2030) ($MN)
90 South America Furniture Testing Market Outlook, By Other Types (2021-2030) ($MN)
91 South America Furniture Testing Market Outlook, By Application (2021-2030) ($MN)
92 South America Furniture Testing Market Outlook, By Predicting Failures (2021-2030) ($MN)
93 South America Furniture Testing Market Outlook, By Enhancing Safety (2021-2030) ($MN)
94 South America Furniture Testing Market Outlook, By Improving Durability (2021-2030) ($MN)
95 South America Furniture Testing Market Outlook, By Other Applications (2021-2030) ($MN)
96 South America Furniture Testing Market Outlook, By End User (2021-2030) ($MN)
97 South America Furniture Testing Market Outlook, By Furniture Manufacturers (2021-2030) ($MN)
98 South America Furniture Testing Market Outlook, By Commercial and Industrial Facilities (2021-2030) ($MN)
99 South America Furniture Testing Market Outlook, By Interior Designers and Architects (2021-2030) ($MN)
100 South America Furniture Testing Market Outlook, By Other End Users (2021-2030) ($MN)
101 Middle East & Africa Furniture Testing Market Outlook, By Country (2021-2030) ($MN)
102 Middle East & Africa Furniture Testing Market Outlook, By Type (2021-2030) ($MN)
103 Middle East & Africa Furniture Testing Market Outlook, By Chemical Testing (2021-2030) ($MN)
104 Middle East & Africa Furniture Testing Market Outlook, By Durability Testing (2021-2030) ($MN)
105 Middle East & Africa Furniture Testing Market Outlook, By Finish and Surface Testing (2021-2030) ($MN)
106 Middle East & Africa Furniture Testing Market Outlook, By Flammability Testing (2021-2030) ($MN)
107 Middle East & Africa Furniture Testing Market Outlook, By Safety and Stability Testing (2021-2030) ($MN)
108 Middle East & Africa Furniture Testing Market Outlook, By Vibration and Shock Testing (2021-2030) ($MN)
109 Middle East & Africa Furniture Testing Market Outlook, By Weight Capacity Testing (2021-2030) ($MN)
110 Middle East & Africa Furniture Testing Market Outlook, By Other Types (2021-2030) ($MN)
111 Middle East & Africa Furniture Testing Market Outlook, By Application (2021-2030) ($MN)
112 Middle East & Africa Furniture Testing Market Outlook, By Predicting Failures (2021-2030) ($MN)
113 Middle East & Africa Furniture Testing Market Outlook, By Enhancing Safety (2021-2030) ($MN)
114 Middle East & Africa Furniture Testing Market Outlook, By Improving Durability (2021-2030) ($MN)
115 Middle East & Africa Furniture Testing Market Outlook, By Other Applications (2021-2030) ($MN)
116 Middle East & Africa Furniture Testing Market Outlook, By End User (2021-2030) ($MN)
117 Middle East & Africa Furniture Testing Market Outlook, By Furniture Manufacturers (2021-2030) ($MN)
118 Middle East & Africa Furniture Testing Market Outlook, By Commercial and Industrial Facilities (2021-2030) ($MN)
119 Middle East & Africa Furniture Testing Market Outlook, By Interior Designers and Architects (2021-2030) ($MN)
120 Middle East & Africa Furniture Testing 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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