Security Robot Market
PUBLISHED: 2023 ID: SMRC22552
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Security Robot Market

Security Robot Market Forecasts to 2028 - Global Analysis By Type (Unmanned Aerial Vehicles, Autonomous Underwater Vehicles and Unmanned Ground Vehicles), By Component (Software, Hardware and Services), By Environment (Indoor and Outdoor), By Application, By End User and By Geography

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4.7 (21 reviews)
Published: 2023 ID: SMRC22552

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $11.62 BN

Projected Year Value (2028)

US $28.61 BN

CAGR (2022 - 2028)

16.2%

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

North America

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Security Robot Market is accounted for $11.62 billion in 2022 and is expected to reach $28.61 billion by 2028 growing at a CAGR of 16.2% during the forecast period. "Security robots," or robots with locomotive capabilities, can collect data for security-related goals and, in some cases, use that data to take necessary action. This information is gathered using a variety of sensors, including radars, cameras, thermal sensors, infrared devices, and others. A variety of advances point to the future potential of security robots.

According to the US Department of Defense, the total budget allocated for military expenses in the country was approximately 753 billion US dollar.

Market Dynamics:

Driver:

Increased use of robots in security applications

Drones and other security robots are widely used in security and surveillance applications. The flying devices assist in site surveys, appropriate camera placement, remote perimeter monitoring, and other security-related duties. Drones' mobility and compact size are advantages. They are capable of acting independently while transmitting analyses and current information to human experts. The military uses unmanned aerial vehicles (UAVs), often known as drones, more frequently because of their capacity to identify harmful locations and identify issues with security and terrorism.

Restraint:

Rigid regulations and high cost of ownership

When using high-accuracy robots, however, there are a number of rules that must be adhered to. The strict regulations governing various unmanned system operations operate as a barrier to the market's expansion in terms of revenue. Furthermore, the high total cost of ownership of security robot systems is stifling market growth. Moreover, they are combining automation capabilities that enable the deployment of security robots in hazardous environments and terrains for surveillance and other action-based analytics, thereby hindering the market's growth.

Opportunity:

Rising safety concerns

The market for security robots is anticipated to rise as a result of increased safety concerns spurred on by the world's rising crime rate. Across the world, a lot of public and private organisations strive for affordable ways to prevent crime, protect people, and safeguard property. Autonomous systems can efficiently identify and deter trespassers, vandals, theft, and break-ins by eliminating threats in real-time and gathering data for forensic analysis.

Threat:

Concerns about privacy and intrusion

Offices, shopping centres, and public spaces are among the places where security robots are gradually being used. Even while these robot security guards are frequently depicted as friendly robots on patrol in place of human security guards, they are actually gathering much more data than people could, raising privacy and intrusion issues. Security robots use cameras, LiDAR, and optional thermal imaging to scan an area while also looking for wireless devices. Regardless of whether it can recognise their faces, this feature may allow the robot to target people in its vicinity in secret.

Covid-19 Impact:

The possibility of unmanned technologies being used by private security and asset protection companies has grown as a result of the COVID-19 epidemic. But in the early stages of the pandemic, there was a higher probability that employees of security firms would become contaminated. It was frequently necessary to hire new staff or reduce the level of service and safety due to the spread of infection among the employees. Additionally, a lot of nations decreased the number of immigrants coming to their territory. Robotic security has become popular due to such trends.

The unmanned aerial vehicles segment is expected to be the largest during the forecast period

As aircraft without the need for a human pilot or passengers, unmanned aerial vehicles segment are predicted to hold the largest share during the projection period. UAVs can be used for a broad range of tasks, including surveillance, bomb detection, surveying, mapping, flight dynamics, computer vision, civil engineering, and many more. However, other UAV categories commonly include ground-control stations made of laptop computers and other components that can be easily transported with the aircraft in backpacks, small boats, or other vehicles.

The commercial segment is expected to have the highest CAGR during the forecast period

Because security robot applications in the commercial sector include security in shopping centres, corporate offices, hotels, museums, nursing homes, hospitals, schools, banks, retail stores, and industries like oil & gas and mining, the commercial segment is expected to grow at the highest rate during the forecast period. Moreover, UGVs are also used in the commercial sector to handle toxic drugs, conduct rescue operations during disasters, and patrol the perimeter of hazardous areas.

Region with largest share:

During the projected period, North America region will hold the largest market share as American security and surveillance forces increasingly use unmanned systems because of their benefits, including quality and dependability. Nevertheless, there have also been more persistent disputes around the country, along with an increase in terrorist attacks in public places and schools. However, the country's need for security robots will rise as a result of these territorial conflicts and geopolitical instability.

Region with highest CAGR:

Due to China's dominance in the development of robotic systems with artificial intelligence (AI), particularly those focusing on defence and national security, the Asia-Pacific region is expected to experience the highest growth throughout the projection period. As the nation improves its military capabilities, the size and quality of its military robotics companies are growing rapidly. Additionally, the government has invested a lot of money in exporting robotic defense-based AI systems that incorporate standard security features like facial recognition and comprehensive surveillance.



Key players in the market

Some of the key players in Security Robot market include SMP Robotics, Elbit Systems Limited, Northrop Grumman Corporation, Leonardo SPA, FLIR Systems Inc., Thales SA, Boston Dynamics Inc., Lockheed Martin Corporation, Aerovironment Inc., SZ DJI Technology Co. Ltd , Knight Scope Inc., BAE Systems PLC, Kongsberg Gruppen, RoboTex Inc., Qinetiq Group PLC and Recon Robotics Inc .

Key Developments:

In August 2022, Hyundai Motor Group announced the launch of Boston Dynamics AI Institute. The launch aimed to make fundamental advances in AI, robotics, and intelligent machines with a USD 400 million investment. As a research-first organization, the institute will work on solving the most critical challenges facing the creation of advanced robots. Elite talent across AI, ML, robotics, computing, and engineering will develop technology for robots and use it to grow their usefulness and capabilities.

In June 2022, Elbit Systems unveiled COPAS-L, a new Electro-Optical (EO) payload for Intelligence, Surveillance, Target Acquisition, and Reconnaissance (ISTAR). COAPS-L is a miniaturized configuration of the Company’s Commander Open Architecture Panoramic Sight (COAPS) that is in service onboard Main Battle Tanks and Armored Fighting Vehicles (AFV) around the world.

In March 2022, Halodi Robotics signed an agreement to provide 140 humanoid robots to ADT Commercial, a premier U.S.-based provider of commercial security, fire, life safety, and risk consulting services. With multiple customer pilot programs already in progress to test and improve robot capabilities, ADT Commercial said it would begin making the robot available to enterprise customers in late 2022.

In January 2022, Leonardo bought HENSOLDT AG, a top German leader in the market for sensors for defense and security applications, with an expanding portfolio in sensors, data management, and robotics. Leonardo would also be able to build a long-term strategic position in the quickly expanding German defense industry thanks to this acquisition.

Types Covered:
• Unmanned Aerial Vehicles
• Autonomous Underwater Vehicles
• Unmanned Ground Vehicles

Components Covered:
• Software
• Hardware
• Services

Environments Covered:
• Indoor
• Outdoor

Applications Covered:
• Rescue Operations
• Transportation
• Spying
• Patrolling
• Explosive Detection
• Other Applications

End Users Covered:
• Residential
• Defense and Military
• Commercial

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 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 Security Robot Market, By Type
5.1 Introduction
5.2 Unmanned Aerial Vehicles
5.3 Autonomous Underwater Vehicles
5.4 Unmanned Ground Vehicles

6 Global Security Robot Market, By Component
6.1 Introduction
6.2 Software
6.3 Hardware
6.4 Services

7 Global Security Robot Market, By Environment
7.1 Introduction
7.2 Indoor
7.3 Outdoor

8 Global Security Robot Market, By Application
8.1 Introduction
8.2 Rescue Operations
8.3 Transportation
8.4 Spying
8.5 Patrolling
8.6 Explosive Detection
8.7 Other Applications

9 Global Security Robot Market, By End User
9.1 Introduction
9.2 Residential
9.3 Defense and Military
9.4 Commercial

10 Global Security Robot 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 SMP Robotics
12.2 Elbit Systems Limited
12.3 Northrop Grumman Corporation
12.4 Leonardo SPA
12.5 FLIR Systems Inc.
12.6 Thales SA
12.7 Boston Dynamics Inc.
12.8 Lockheed Martin Corporation
12.9 Aerovironment Inc.
12.10 SZ DJI Technology Co. Ltd
12.11 Knight Scope Inc.
12.12 BAE Systems PLC
12.13 Kongsberg Gruppen
12.14 RoboTex Inc.
12.15 Qinetiq Group PLC
12.16 Recon Robotics Inc.

List of Tables
1 Global Security Robot Market Outlook, By Region (2020-2028) ($MN)
2 Global Security Robot Market Outlook, By Type (2020-2028) ($MN)
3 Global Security Robot Market Outlook, By Unmanned Aerial Vehicles (2020-2028) ($MN)
4 Global Security Robot Market Outlook, By Autonomous Underwater Vehicles (2020-2028) ($MN)
5 Global Security Robot Market Outlook, By Unmanned Ground Vehicles (2020-2028) ($MN)
6 Global Security Robot Market Outlook, By Component (2020-2028) ($MN)
7 Global Security Robot Market Outlook, By Software (2020-2028) ($MN)
8 Global Security Robot Market Outlook, By Hardware (2020-2028) ($MN)
9 Global Security Robot Market Outlook, By Services (2020-2028) ($MN)
10 Global Security Robot Market Outlook, By Environment (2020-2028) ($MN)
11 Global Security Robot Market Outlook, By Indoor (2020-2028) ($MN)
12 Global Security Robot Market Outlook, By Outdoor (2020-2028) ($MN)
13 Global Security Robot Market Outlook, By Application (2020-2028) ($MN)
14 Global Security Robot Market Outlook, By Rescue Operations (2020-2028) ($MN)
15 Global Security Robot Market Outlook, By Transportation (2020-2028) ($MN)
16 Global Security Robot Market Outlook, By Spying (2020-2028) ($MN)
17 Global Security Robot Market Outlook, By Patrolling (2020-2028) ($MN)
18 Global Security Robot Market Outlook, By Explosive Detection (2020-2028) ($MN)
19 Global Security Robot Market Outlook, By Other Applications (2020-2028) ($MN)
20 Global Security Robot Market Outlook, By End User (2020-2028) ($MN)
21 Global Security Robot Market Outlook, By Residential (2020-2028) ($MN)
22 Global Security Robot Market Outlook, By Defense and Military (2020-2028) ($MN)
23 Global Security Robot Market Outlook, By Commercial (2020-2028) ($MN)
24 North America Security Robot Market Outlook, By Country (2020-2028) ($MN)
25 North America Security Robot Market Outlook, By Type (2020-2028) ($MN)
26 North America Security Robot Market Outlook, By Unmanned Aerial Vehicles (2020-2028) ($MN)
27 North America Security Robot Market Outlook, By Autonomous Underwater Vehicles (2020-2028) ($MN)
28 North America Security Robot Market Outlook, By Unmanned Ground Vehicles (2020-2028) ($MN)
29 North America Security Robot Market Outlook, By Component (2020-2028) ($MN)
30 North America Security Robot Market Outlook, By Software (2020-2028) ($MN)
31 North America Security Robot Market Outlook, By Hardware (2020-2028) ($MN)
32 North America Security Robot Market Outlook, By Services (2020-2028) ($MN)
33 North America Security Robot Market Outlook, By Environment (2020-2028) ($MN)
34 North America Security Robot Market Outlook, By Indoor (2020-2028) ($MN)
35 North America Security Robot Market Outlook, By Outdoor (2020-2028) ($MN)
36 North America Security Robot Market Outlook, By Application (2020-2028) ($MN)
37 North America Security Robot Market Outlook, By Rescue Operations (2020-2028) ($MN)
38 North America Security Robot Market Outlook, By Transportation (2020-2028) ($MN)
39 North America Security Robot Market Outlook, By Spying (2020-2028) ($MN)
40 North America Security Robot Market Outlook, By Patrolling (2020-2028) ($MN)
41 North America Security Robot Market Outlook, By Explosive Detection (2020-2028) ($MN)
42 North America Security Robot Market Outlook, By Other Applications (2020-2028) ($MN)
43 North America Security Robot Market Outlook, By End User (2020-2028) ($MN)
44 North America Security Robot Market Outlook, By Residential (2020-2028) ($MN)
45 North America Security Robot Market Outlook, By Defense and Military (2020-2028) ($MN)
46 North America Security Robot Market Outlook, By Commercial (2020-2028) ($MN)
47 Europe Security Robot Market Outlook, By Country (2020-2028) ($MN)
48 Europe Security Robot Market Outlook, By Type (2020-2028) ($MN)
49 Europe Security Robot Market Outlook, By Unmanned Aerial Vehicles (2020-2028) ($MN)
50 Europe Security Robot Market Outlook, By Autonomous Underwater Vehicles (2020-2028) ($MN)
51 Europe Security Robot Market Outlook, By Unmanned Ground Vehicles (2020-2028) ($MN)
52 Europe Security Robot Market Outlook, By Component (2020-2028) ($MN)
53 Europe Security Robot Market Outlook, By Software (2020-2028) ($MN)
54 Europe Security Robot Market Outlook, By Hardware (2020-2028) ($MN)
55 Europe Security Robot Market Outlook, By Services (2020-2028) ($MN)
56 Europe Security Robot Market Outlook, By Environment (2020-2028) ($MN)
57 Europe Security Robot Market Outlook, By Indoor (2020-2028) ($MN)
58 Europe Security Robot Market Outlook, By Outdoor (2020-2028) ($MN)
59 Europe Security Robot Market Outlook, By Application (2020-2028) ($MN)
60 Europe Security Robot Market Outlook, By Rescue Operations (2020-2028) ($MN)
61 Europe Security Robot Market Outlook, By Transportation (2020-2028) ($MN)
62 Europe Security Robot Market Outlook, By Spying (2020-2028) ($MN)
63 Europe Security Robot Market Outlook, By Patrolling (2020-2028) ($MN)
64 Europe Security Robot Market Outlook, By Explosive Detection (2020-2028) ($MN)
65 Europe Security Robot Market Outlook, By Other Applications (2020-2028) ($MN)
66 Europe Security Robot Market Outlook, By End User (2020-2028) ($MN)
67 Europe Security Robot Market Outlook, By Residential (2020-2028) ($MN)
68 Europe Security Robot Market Outlook, By Defense and Military (2020-2028) ($MN)
69 Europe Security Robot Market Outlook, By Commercial (2020-2028) ($MN)
70 Asia Pacific Security Robot Market Outlook, By Country (2020-2028) ($MN)
71 Asia Pacific Security Robot Market Outlook, By Type (2020-2028) ($MN)
72 Asia Pacific Security Robot Market Outlook, By Unmanned Aerial Vehicles (2020-2028) ($MN)
73 Asia Pacific Security Robot Market Outlook, By Autonomous Underwater Vehicles (2020-2028) ($MN)
74 Asia Pacific Security Robot Market Outlook, By Unmanned Ground Vehicles (2020-2028) ($MN)
75 Asia Pacific Security Robot Market Outlook, By Component (2020-2028) ($MN)
76 Asia Pacific Security Robot Market Outlook, By Software (2020-2028) ($MN)
77 Asia Pacific Security Robot Market Outlook, By Hardware (2020-2028) ($MN)
78 Asia Pacific Security Robot Market Outlook, By Services (2020-2028) ($MN)
79 Asia Pacific Security Robot Market Outlook, By Environment (2020-2028) ($MN)
80 Asia Pacific Security Robot Market Outlook, By Indoor (2020-2028) ($MN)
81 Asia Pacific Security Robot Market Outlook, By Outdoor (2020-2028) ($MN)
82 Asia Pacific Security Robot Market Outlook, By Application (2020-2028) ($MN)
83 Asia Pacific Security Robot Market Outlook, By Rescue Operations (2020-2028) ($MN)
84 Asia Pacific Security Robot Market Outlook, By Transportation (2020-2028) ($MN)
85 Asia Pacific Security Robot Market Outlook, By Spying (2020-2028) ($MN)
86 Asia Pacific Security Robot Market Outlook, By Patrolling (2020-2028) ($MN)
87 Asia Pacific Security Robot Market Outlook, By Explosive Detection (2020-2028) ($MN)
88 Asia Pacific Security Robot Market Outlook, By Other Applications (2020-2028) ($MN)
89 Asia Pacific Security Robot Market Outlook, By End User (2020-2028) ($MN)
90 Asia Pacific Security Robot Market Outlook, By Residential (2020-2028) ($MN)
91 Asia Pacific Security Robot Market Outlook, By Defense and Military (2020-2028) ($MN)
92 Asia Pacific Security Robot Market Outlook, By Commercial (2020-2028) ($MN)
93 South America Security Robot Market Outlook, By Country (2020-2028) ($MN)
94 South America Security Robot Market Outlook, By Type (2020-2028) ($MN)
95 South America Security Robot Market Outlook, By Unmanned Aerial Vehicles (2020-2028) ($MN)
96 South America Security Robot Market Outlook, By Autonomous Underwater Vehicles (2020-2028) ($MN)
97 South America Security Robot Market Outlook, By Unmanned Ground Vehicles (2020-2028) ($MN)
98 South America Security Robot Market Outlook, By Component (2020-2028) ($MN)
99 South America Security Robot Market Outlook, By Software (2020-2028) ($MN)
100 South America Security Robot Market Outlook, By Hardware (2020-2028) ($MN)
101 South America Security Robot Market Outlook, By Services (2020-2028) ($MN)
102 South America Security Robot Market Outlook, By Environment (2020-2028) ($MN)
103 South America Security Robot Market Outlook, By Indoor (2020-2028) ($MN)
104 South America Security Robot Market Outlook, By Outdoor (2020-2028) ($MN)
105 South America Security Robot Market Outlook, By Application (2020-2028) ($MN)
106 South America Security Robot Market Outlook, By Rescue Operations (2020-2028) ($MN)
107 South America Security Robot Market Outlook, By Transportation (2020-2028) ($MN)
108 South America Security Robot Market Outlook, By Spying (2020-2028) ($MN)
109 South America Security Robot Market Outlook, By Patrolling (2020-2028) ($MN)
110 South America Security Robot Market Outlook, By Explosive Detection (2020-2028) ($MN)
111 South America Security Robot Market Outlook, By Other Applications (2020-2028) ($MN)
112 South America Security Robot Market Outlook, By End User (2020-2028) ($MN)
113 South America Security Robot Market Outlook, By Residential (2020-2028) ($MN)
114 South America Security Robot Market Outlook, By Defense and Military (2020-2028) ($MN)
115 South America Security Robot Market Outlook, By Commercial (2020-2028) ($MN)
116 Middle East & Africa Security Robot Market Outlook, By Country (2020-2028) ($MN)
117 Middle East & Africa Security Robot Market Outlook, By Type (2020-2028) ($MN)
118 Middle East & Africa Security Robot Market Outlook, By Unmanned Aerial Vehicles (2020-2028) ($MN)
119 Middle East & Africa Security Robot Market Outlook, By Autonomous Underwater Vehicles (2020-2028) ($MN)
120 Middle East & Africa Security Robot Market Outlook, By Unmanned Ground Vehicles (2020-2028) ($MN)
121 Middle East & Africa Security Robot Market Outlook, By Component (2020-2028) ($MN)
122 Middle East & Africa Security Robot Market Outlook, By Software (2020-2028) ($MN)
123 Middle East & Africa Security Robot Market Outlook, By Hardware (2020-2028) ($MN)
124 Middle East & Africa Security Robot Market Outlook, By Services (2020-2028) ($MN)
125 Middle East & Africa Security Robot Market Outlook, By Environment (2020-2028) ($MN)
126 Middle East & Africa Security Robot Market Outlook, By Indoor (2020-2028) ($MN)
127 Middle East & Africa Security Robot Market Outlook, By Outdoor (2020-2028) ($MN)
128 Middle East & Africa Security Robot Market Outlook, By Application (2020-2028) ($MN)
129 Middle East & Africa Security Robot Market Outlook, By Rescue Operations (2020-2028) ($MN)
130 Middle East & Africa Security Robot Market Outlook, By Transportation (2020-2028) ($MN)
131 Middle East & Africa Security Robot Market Outlook, By Spying (2020-2028) ($MN)
132 Middle East & Africa Security Robot Market Outlook, By Patrolling (2020-2028) ($MN)
133 Middle East & Africa Security Robot Market Outlook, By Explosive Detection (2020-2028) ($MN)
134 Middle East & Africa Security Robot Market Outlook, By Other Applications (2020-2028) ($MN)
135 Middle East & Africa Security Robot Market Outlook, By End User (2020-2028) ($MN)
136 Middle East & Africa Security Robot Market Outlook, By Residential (2020-2028) ($MN)
137 Middle East & Africa Security Robot Market Outlook, By Defense and Military (2020-2028) ($MN)
138 Middle East & Africa Security Robot Market Outlook, By Commercial (2020-2028) ($MN)

List of Figures

RESEARCH METHODOLOGY


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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