Network Automation Market
Network Automation Market Forecasts to 2028 - Global Analysis By Network Type (Physical, Virtual and Hybrid), Solution Type (Network Automation Tools, SD-WAN & Network Virtualization, Intent-Based Networking), Service Type (Managed Service and Professional Service), Deployment (Cloud and On-Premise), End User and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $3.22 BN |
|
Projected Year Value (2028) |
US $12.33 BN |
|
CAGR (2022 - 2028) |
24.9% |
|
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 Network Automation Market is accounted for $3.22 billion in 2022 and is expected to reach $12.23 billion by 2028 growing at a CAGR of 24.9% during the forecast period. Network automation includes all steps involved in automating management, installation, validation, operations, and deployment of both virtual and physical devices used in a network. In order to optimize network functioning and efficiency, it uses software to automate the network and offers management and security. Additionally, it makes it possible for quick operation units to combine and set up network infrastructure and application services.
According to the Verizon Network Report, the overall data volume across its networks increased by 19% compared to pre-COVID levels. While data usage remains elevated, the changes in how people use the network have stabilized. Verizon expects the user to continue at sustained higher levels in the future.
Market Dynamics:
Driver:
Growing need for IT automation in businesses
The systems of communication find it difficult to manage tasks manually as the growth of devices and information outpaces IT capabilities. Offering network automation technologies to seamlessly transport apps and information between on-premises and cloud-based data centres is essential for businesses to keep up with the digital world. For example, Cisco DNA, an intent-based digital network, helps in the modernization of manual intervention, leasing, enrolment, and software management processes to automate and scale network operations, significantly cutting configuration errors.
Restraint:
Related security issues
One of the major factors limiting the market's growth is certain firms concern that automated solutions can take no notice of security issues or put too many restrictions on the network. Furthermore, implementing automated systems or solutions forces a corporation to hire professionals or train its existing network workers, which ultimately raises costs for the business. Apart from this, no new automation standards or laws have been established. It would be even more challenging for the connectivity team to maintain infrastructure if there weren't defined standards for networking suppliers to use when generating configuration commands thus hindering the growth of the market.
Opportunity:
Increased utilisation of connected devices
The exponential rise of network devices necessitates a different approach that is built on automation and self-servicing capabilities that would control and manage the complex computer servers and network operations. The connected devices are expanding faster than the population as a whole. Network automation solutions can facilitate the upkeep of both physical and virtual network equipment, aiding networking staff to stay up with this expansion. Thus, the rapid use of connected devices is projected to boost the growth of the worldwide network automation market.
Threat:
Lack of skilled professionals
It is crucial to have networking experts who are familiar with cloud networking concepts. Additionally, there are cloud teams that are aware of how to operate and integrate into the network. Therefore, it is anticipated that a shortage of networking professionals will restrain the development of the worldwide network automation market. Additionally, the market for commercial network automation solutions is being constrained by the availability of open source automated tools which hinders the market.
Covid-19 Impact
The majority of professionals who work from home, students who learn using virtual platforms and company virtual private network (VPN) servers have become lifelines during the COVID-19 pandemic. Students are adopting virtual learning techniques, and several million workers have suddenly shifted to work-from-home strategies, causing a significant shift in the way that communication networks are used. Thus, the market for network automation is expanding due to the increased demand for reliable connectivity and large bandwidth. During the COVID-19 pandemic, top network automation providers are offering network automation solutions, which are propelling the market's expansion.
The hybrid segment is expected to be the largest during the forecast period
The hybrid segment is estimated to have a lucrative growth, due to its flexibility as well as its reliability as hybrid networks are designed in a way that makes it simple to integrate new hardware components, it is easily scalable. Troubleshooting and error detection are simple and handles a large volume of traffic. Users can choose from a variety of topologies to suit their demands, which make this hybrid network very efficient. Additionally, this topology is advantageous for consumers because to the strength of the topologies thus, accelerating the growth of the market.
The network automation Tools segment is expected to have the highest CAGR during the forecast period
The network automation tools segment is anticipated to witness the fastest CAGR growth during the forecast period, due to Make business operations more effective. r compared to manually operated networks, all automated network tasks can be completed faster. Reduce the number of errors. Because automated networks have less human influence, errors are now easier to avoid. Operation costs can be reduced. Systems for network automation will make it simpler to achieve business goals more quickly because they are more effective. It will improve efficiencies, utilize limited resources, enhance software quality, and reduce expenses for the business which propels the market growth.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the adoption of network function virtualization (NFV) and software-defined networking (SDN) technologies is growing every day. Due to these circumstances, large businesses must quickly adapt the way they design their wide area networks in order to satisfy the expanding network requirements. Additionally, the complexity of the IT infrastructure in firms that have implemented many technologies is growing, which is driving up demand for network automation solutions which are enhancing the growth of the market.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the rapid acceptance of network automation services and solutions is attributed for the surge. The sector for network automation is expanding in this region as a result of the growing demand for machine learning, big data, and deep learning techniques that enable remote network equipment control. Businesses and organisations are modernising their outdated network infrastructure to take advantage of cloud deployment services, network virtualization technologies, and advanced IT technology. Network automation is being adopted and put into practise by IT and telecommunication service providers to get rid of mistakes and the complexity of growing network traffic are boosting the market growth.
Key players in the market
Some of the key players profiled in the Network Automation Market include IBM Corporation, Juniper Networks Inc, Cisco Systems Inc., Hewlett Packard Enterprise Development LP, SolarWinds Inc., NetBrain Technologies Inc., Micro Focus International PLC, Network Automation Inc., Arista Networks Inc., Nuage Networks, Forward Networks Inc., AppViewX Inc., Extreme Networks Inc., BMC Software Inc., Fujitsu Limited and VMware Inc.
Key Developments:
In Jan 2023, IBM Launches New Way to Partner through IBM Partner Plus, The program is designed to fuel growth for new and existing partners, including resellers, hyperscalers, technology providers, independent software vendors and systems integrators, by putting them in control of their earning potential.
In Jan 2023, Fiber@Home partners with Cisco to enable 5G-ready network across Bangladesh Fiber@Home is using Cisco platforms for this expansion to enhance and optimize the overall customer experience, becoming the first customer in the country to adopt Cisco’s Routed optical networking technology.
In Jan 2023, Juniper Networks and NEC Electrify Powerco’s Wi-Fi User Experience, Juniper Networks, a leader in secure, AI-driven networks, and NEC Corporation a leading global IT and network transformation services provider, today announced that they have been selected by Powerco, New Zealand’s second largest gas and electricity distributor, to design and deploy an innovative new Wi-Fi network across its sites nationwide.
In Dec 2022, IBM Helps Financial Services Industry Manage Risk and Regulations with CSA. IBM announced it is working with the Cloud Security Alliance a global not-for-profit dedicated to defining standards, certifications, and best practices to help ensure secured cloud computing that aims to further advance security and risk management of cloud within financial services.
Network Types Covered:
• Physical
• Virtual
• Hybrid
Solution Types Covered:
• Network Automation Tools
• SD-WAN & Network Virtualization
• Intent-Based Networking
Service Types Covered:
• Managed Service
• Professional Service
Deployments Covered:
• Cloud
• On-Premise
End Users Covered:
• Manufacturing
• Energy & Utility
• IT & Telecom
• Banking & Financial Services
• Education
• 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 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 Network Automation Market, By Network Type
5.1 Introduction
5.2 Physical
5.3 Virtual
5.4 Hybrid
6 Global Network Automation Market, By Solution Type
6.1 Introduction
6.2 Network Automation Tools
6.3 SD-WAN & Network Virtualization
6.4 Intent-Based Networking
7 Global Network Automation Market, By Service Type
7.1 Introduction
7.2 Managed Service
7.3 Professional Service
8 Global Network Automation Market, By Deployment
8.1 Introduction
8.2 Cloud
8.3 On-Premise
9 Global Network Automation Market, By End User
9.1 Introduction
9.2 Manufacturing
9.3 Energy & Utility
9.4 IT & Telecom
9.5 Banking & Financial Services
9.6 Education
9.7 Other End Users
10 Global Network Automation Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 IBM Corporation
12.2 Juniper Networks Inc.
12.3 Cisco Systems Inc.
12.4 Hewlett Packard Enterprise Development LP
12.5 SolarWinds Inc.
12.6 NetBrain Technologies Inc.
12.7 Micro Focus International PLC
12.8 Network Automation Inc.
12.9 Arista Networks Inc.
12.10 Nuage Networks
12.11 Forward Networks Inc.
12.12 AppViewX Inc.
12.13 Extreme Networks Inc.
12.14 BMC Software Inc.
12.15 Fujitsu Limited
12.16 VMware Inc.
List of Tables
1 Global Network Automation Market Outlook, By Region (2020-2028) ($MN)
2 Global Network Automation Market Outlook, By Network Type (2020-2028) ($MN)
3 Global Network Automation Market Outlook, By Physical (2020-2028) ($MN)
4 Global Network Automation Market Outlook, By Virtual (2020-2028) ($MN)
5 Global Network Automation Market Outlook, By Hybrid (2020-2028) ($MN)
6 Global Network Automation Market Outlook, By Solution Type (2020-2028) ($MN)
7 Global Network Automation Market Outlook, By Network Automation Tools (2020-2028) ($MN)
8 Global Network Automation Market Outlook, By SD-WAN & Network Virtualization (2020-2028) ($MN)
9 Global Network Automation Market Outlook, By Intent-Based Networking (2020-2028) ($MN)
10 Global Network Automation Market Outlook, By Service Type (2020-2028) ($MN)
11 Global Network Automation Market Outlook, By Managed Service (2020-2028) ($MN)
12 Global Network Automation Market Outlook, By Professional Service (2020-2028) ($MN)
13 Global Network Automation Market Outlook, By Deployment (2020-2028) ($MN)
14 Global Network Automation Market Outlook, By Cloud (2020-2028) ($MN)
15 Global Network Automation Market Outlook, By On-Premise (2020-2028) ($MN)
16 Global Network Automation Market Outlook, By End User (2020-2028) ($MN)
17 Global Network Automation Market Outlook, By Manufacturing (2020-2028) ($MN)
18 Global Network Automation Market Outlook, By Energy & Utility (2020-2028) ($MN)
19 Global Network Automation Market Outlook, By IT & Telecom (2020-2028) ($MN)
20 Global Network Automation Market Outlook, By Banking & Financial Services (2020-2028) ($MN)
21 Global Network Automation Market Outlook, By Education (2020-2028) ($MN)
22 Global Network Automation Market Outlook, By Other End Users (2020-2028) ($MN)
23 North America Network Automation Market Outlook, By Country (2020-2028) ($MN)
24 North America Network Automation Market Outlook, By Network Type (2020-2028) ($MN)
25 North America Network Automation Market Outlook, By Physical (2020-2028) ($MN)
26 North America Network Automation Market Outlook, By Virtual (2020-2028) ($MN)
27 North America Network Automation Market Outlook, By Hybrid (2020-2028) ($MN)
28 North America Network Automation Market Outlook, By Solution Type (2020-2028) ($MN)
29 North America Network Automation Market Outlook, By Network Automation Tools (2020-2028) ($MN)
30 North America Network Automation Market Outlook, By SD-WAN & Network Virtualization (2020-2028) ($MN)
31 North America Network Automation Market Outlook, By Intent-Based Networking (2020-2028) ($MN)
32 North America Network Automation Market Outlook, By Service Type (2020-2028) ($MN)
33 North America Network Automation Market Outlook, By Managed Service (2020-2028) ($MN)
34 North America Network Automation Market Outlook, By Professional Service (2020-2028) ($MN)
35 North America Network Automation Market Outlook, By Deployment (2020-2028) ($MN)
36 North America Network Automation Market Outlook, By Cloud (2020-2028) ($MN)
37 North America Network Automation Market Outlook, By On-Premise (2020-2028) ($MN)
38 North America Network Automation Market Outlook, By End User (2020-2028) ($MN)
39 North America Network Automation Market Outlook, By Manufacturing (2020-2028) ($MN)
40 North America Network Automation Market Outlook, By Energy & Utility (2020-2028) ($MN)
41 North America Network Automation Market Outlook, By IT & Telecom (2020-2028) ($MN)
42 North America Network Automation Market Outlook, By Banking & Financial Services (2020-2028) ($MN)
43 North America Network Automation Market Outlook, By Education (2020-2028) ($MN)
44 North America Network Automation Market Outlook, By Other End Users (2020-2028) ($MN)
45 Europe Network Automation Market Outlook, By Country (2020-2028) ($MN)
46 Europe Network Automation Market Outlook, By Network Type (2020-2028) ($MN)
47 Europe Network Automation Market Outlook, By Physical (2020-2028) ($MN)
48 Europe Network Automation Market Outlook, By Virtual (2020-2028) ($MN)
49 Europe Network Automation Market Outlook, By Hybrid (2020-2028) ($MN)
50 Europe Network Automation Market Outlook, By Solution Type (2020-2028) ($MN)
51 Europe Network Automation Market Outlook, By Network Automation Tools (2020-2028) ($MN)
52 Europe Network Automation Market Outlook, By SD-WAN & Network Virtualization (2020-2028) ($MN)
53 Europe Network Automation Market Outlook, By Intent-Based Networking (2020-2028) ($MN)
54 Europe Network Automation Market Outlook, By Service Type (2020-2028) ($MN)
55 Europe Network Automation Market Outlook, By Managed Service (2020-2028) ($MN)
56 Europe Network Automation Market Outlook, By Professional Service (2020-2028) ($MN)
57 Europe Network Automation Market Outlook, By Deployment (2020-2028) ($MN)
58 Europe Network Automation Market Outlook, By Cloud (2020-2028) ($MN)
59 Europe Network Automation Market Outlook, By On-Premise (2020-2028) ($MN)
60 Europe Network Automation Market Outlook, By End User (2020-2028) ($MN)
61 Europe Network Automation Market Outlook, By Manufacturing (2020-2028) ($MN)
62 Europe Network Automation Market Outlook, By Energy & Utility (2020-2028) ($MN)
63 Europe Network Automation Market Outlook, By IT & Telecom (2020-2028) ($MN)
64 Europe Network Automation Market Outlook, By Banking & Financial Services (2020-2028) ($MN)
65 Europe Network Automation Market Outlook, By Education (2020-2028) ($MN)
66 Europe Network Automation Market Outlook, By Other End Users (2020-2028) ($MN)
67 Asia Pacific Network Automation Market Outlook, By Country (2020-2028) ($MN)
68 Asia Pacific Network Automation Market Outlook, By Network Type (2020-2028) ($MN)
69 Asia Pacific Network Automation Market Outlook, By Physical (2020-2028) ($MN)
70 Asia Pacific Network Automation Market Outlook, By Virtual (2020-2028) ($MN)
71 Asia Pacific Network Automation Market Outlook, By Hybrid (2020-2028) ($MN)
72 Asia Pacific Network Automation Market Outlook, By Solution Type (2020-2028) ($MN)
73 Asia Pacific Network Automation Market Outlook, By Network Automation Tools (2020-2028) ($MN)
74 Asia Pacific Network Automation Market Outlook, By SD-WAN & Network Virtualization (2020-2028) ($MN)
75 Asia Pacific Network Automation Market Outlook, By Intent-Based Networking (2020-2028) ($MN)
76 Asia Pacific Network Automation Market Outlook, By Service Type (2020-2028) ($MN)
77 Asia Pacific Network Automation Market Outlook, By Managed Service (2020-2028) ($MN)
78 Asia Pacific Network Automation Market Outlook, By Professional Service (2020-2028) ($MN)
79 Asia Pacific Network Automation Market Outlook, By Deployment (2020-2028) ($MN)
80 Asia Pacific Network Automation Market Outlook, By Cloud (2020-2028) ($MN)
81 Asia Pacific Network Automation Market Outlook, By On-Premise (2020-2028) ($MN)
82 Asia Pacific Network Automation Market Outlook, By End User (2020-2028) ($MN)
83 Asia Pacific Network Automation Market Outlook, By Manufacturing (2020-2028) ($MN)
84 Asia Pacific Network Automation Market Outlook, By Energy & Utility (2020-2028) ($MN)
85 Asia Pacific Network Automation Market Outlook, By IT & Telecom (2020-2028) ($MN)
86 Asia Pacific Network Automation Market Outlook, By Banking & Financial Services (2020-2028) ($MN)
87 Asia Pacific Network Automation Market Outlook, By Education (2020-2028) ($MN)
88 Asia Pacific Network Automation Market Outlook, By Other End Users (2020-2028) ($MN)
89 South America Network Automation Market Outlook, By Country (2020-2028) ($MN)
90 South America Network Automation Market Outlook, By Network Type (2020-2028) ($MN)
91 South America Network Automation Market Outlook, By Physical (2020-2028) ($MN)
92 South America Network Automation Market Outlook, By Virtual (2020-2028) ($MN)
93 South America Network Automation Market Outlook, By Hybrid (2020-2028) ($MN)
94 South America Network Automation Market Outlook, By Solution Type (2020-2028) ($MN)
95 South America Network Automation Market Outlook, By Network Automation Tools (2020-2028) ($MN)
96 South America Network Automation Market Outlook, By SD-WAN & Network Virtualization (2020-2028) ($MN)
97 South America Network Automation Market Outlook, By Intent-Based Networking (2020-2028) ($MN)
98 South America Network Automation Market Outlook, By Service Type (2020-2028) ($MN)
99 South America Network Automation Market Outlook, By Managed Service (2020-2028) ($MN)
100 South America Network Automation Market Outlook, By Professional Service (2020-2028) ($MN)
101 South America Network Automation Market Outlook, By Deployment (2020-2028) ($MN)
102 South America Network Automation Market Outlook, By Cloud (2020-2028) ($MN)
103 South America Network Automation Market Outlook, By On-Premise (2020-2028) ($MN)
104 South America Network Automation Market Outlook, By End User (2020-2028) ($MN)
105 South America Network Automation Market Outlook, By Manufacturing (2020-2028) ($MN)
106 South America Network Automation Market Outlook, By Energy & Utility (2020-2028) ($MN)
107 South America Network Automation Market Outlook, By IT & Telecom (2020-2028) ($MN)
108 South America Network Automation Market Outlook, By Banking & Financial Services (2020-2028) ($MN)
109 South America Network Automation Market Outlook, By Education (2020-2028) ($MN)
110 South America Network Automation Market Outlook, By Other End Users (2020-2028) ($MN)
111 Middle East & Africa Network Automation Market Outlook, By Country (2020-2028) ($MN)
112 Middle East & Africa Network Automation Market Outlook, By Network Type (2020-2028) ($MN)
113 Middle East & Africa Network Automation Market Outlook, By Physical (2020-2028) ($MN)
114 Middle East & Africa Network Automation Market Outlook, By Virtual (2020-2028) ($MN)
115 Middle East & Africa Network Automation Market Outlook, By Hybrid (2020-2028) ($MN)
116 Middle East & Africa Network Automation Market Outlook, By Solution Type (2020-2028) ($MN)
117 Middle East & Africa Network Automation Market Outlook, By Network Automation Tools (2020-2028) ($MN)
118 Middle East & Africa Network Automation Market Outlook, By SD-WAN & Network Virtualization (2020-2028) ($MN)
119 Middle East & Africa Network Automation Market Outlook, By Intent-Based Networking (2020-2028) ($MN)
120 Middle East & Africa Network Automation Market Outlook, By Service Type (2020-2028) ($MN)
121 Middle East & Africa Network Automation Market Outlook, By Managed Service (2020-2028) ($MN)
122 Middle East & Africa Network Automation Market Outlook, By Professional Service (2020-2028) ($MN)
123 Middle East & Africa Network Automation Market Outlook, By Deployment (2020-2028) ($MN)
124 Middle East & Africa Network Automation Market Outlook, By Cloud (2020-2028) ($MN)
125 Middle East & Africa Network Automation Market Outlook, By On-Premise (2020-2028) ($MN)
126 Middle East & Africa Network Automation Market Outlook, By End User (2020-2028) ($MN)
127 Middle East & Africa Network Automation Market Outlook, By Manufacturing (2020-2028) ($MN)
128 Middle East & Africa Network Automation Market Outlook, By Energy & Utility (2020-2028) ($MN)
129 Middle East & Africa Network Automation Market Outlook, By IT & Telecom (2020-2028) ($MN)
130 Middle East & Africa Network Automation Market Outlook, By Banking & Financial Services (2020-2028) ($MN)
131 Middle East & Africa Network Automation Market Outlook, By Education (2020-2028) ($MN)
132 Middle East & Africa Network Automation 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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