Shore Power
Shore Power Market Forecasts to 2030 - Global Analysis By Installation Type (Shipside and Shoreside), Connection, Component, End User and By Geography
According to Stratistics MRC, the Global Shore Power Market is accounted for $2.0 billion in 2024 and is expected to reach $4.3 billion by 2030 growing at a CAGR of 13.2% during the forecast period. Shore power, also known as ""cold ironing"" or ""shore-to-ship power,"" is the process of providing electrical power from the shore to a ship while it is docked. This allows the ship to turn off its onboard diesel generators, which are typically used to generate electricity for essential systems such as lighting, heating, cooling, and other operations. Shore power helps to reduce air pollution, noise, and vibrations in port areas by minimizing the use of diesel engines.
According to the United Nations Conference on Trade and Development, maritime transport is the foundation of international trade and the global economy with over 80% of the volume of global trade in goods is carried by sea, and the percentage is even higher for most developing countries
Market Dynamics:
Driver:
Increased port traffic
The market is witnessing a surge in port traffic, driven by increasing environmental regulations and sustainability initiatives in the maritime sector. Ports worldwide are embracing shore power solutions to reduce emissions and meet carbon reduction targets. This uptick in port traffic underscores the growing adoption of shore power technologies by shipping companies seeking to minimize their carbon footprint while in port. The trend signals a significant shift towards cleaner and more sustainable practices within the global maritime industry.
Restraint:
Standardization Issues
Standardization poses a significant challenge in the shore power market, hindering widespread adoption and interoperability. Varying technical specifications across ports and regions create compatibility issues between shore power systems and vessels. This lack of standardization increases costs for both port operators and shipping companies, discouraging investment in shore power infrastructure. Additionally, differing regulations and standards complicate the development of universal solutions, impeding progress toward a more sustainable maritime industry.
Opportunity:
Renewable energy integration
Renewable energy integration in the shore power market represents a pivotal step towards sustainable maritime operations. By harnessing sources like wind, solar, or tidal power, ports can reduce reliance on fossil fuels, mitigating environmental impact and cutting emissions. Shore power infrastructure enables vessels to connect to the electrical grid while docked, facilitating the seamless integration of renewable energy into maritime activities. This transition not only promotes cleaner air and water but also fosters innovation and resilience in the global shipping industry.
Threat:
High upfront costs
In the market, high upfront costs pose a significant barrier to entry. Implementing shore power infrastructure requires substantial investment in specialized equipment such as shore connection systems, electrical infrastructure upgrades, and vessel modifications. These costs encompass not only the hardware but also engineering, permitting, and installation expenses. Additionally, the complexity of integrating shore power with existing port infrastructure further adds to the initial financial burden.
Covid-19 Impact:
The COVID-19 pandemic significantly affected the shore power market, causing disruptions in both supply and demand. Travel restrictions and lockdown measures led to reduced maritime activities, resulting in decreased demand for shore power solutions. Delays in infrastructure projects and financial uncertainties also hampered investment in port electrification. However, the pandemic highlighted the importance of reducing emissions in the maritime sector, potentially driving long-term growth in the adoption of shore power technologies as part of sustainability efforts within the industry.
The cables and accessories segment is expected to be the largest during the forecast period
The cables and accessories is expected to be the largest during the forecast period. These components encompass a range of specialized cables, connectors, transformers, and distribution panels designed to handle high voltage power transfer. With a focus on durability, weather resistance, and compatibility with varying vessel types, these accessories facilitate seamless power delivery, minimizing downtime and optimizing energy efficiency for vessels relying on shore power connections.
The passenger ports segment is expected to have the highest CAGR during the forecast period
The passenger ports segment is expected to have the highest CAGR during the forecast period driven by environmental concerns and regulations to reduce emissions. Shore power, also known as cold ironing or Alternative Maritime Power (AMP), allows ships to connect to land-based electrical power while docked, eliminating the need to run their engines. This not only reduces air pollution but also noise levels in port areas. Major passenger ports worldwide are increasingly investing in shore power infrastructure to support sustainable maritime operations and enhance their environmental credentials.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. Shore power, also known as cold ironing or alternative maritime power (AMP), enables vessels to connect to the electrical grid while docked, reducing emissions from onboard generators. With a focus on sustainability and reducing air pollution in ports, governments and port authorities are incentivizing the implementation of shore power infrastructure, fostering market expansion across the continent.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period driven by the increasing adoption of clean energy solutions and stringent environmental regulations. The Asia Pacific shore power market encompasses various stakeholders, including port authorities, shipowners, technology providers, and government agencies. It involves the installation of shore power equipment such as connection points, transformers, and electrical infrastructure in ports, as well as the modification of ships to enable shore power compatibility.
Key players in the market
Some of the key players in Shore Power market include Siemens , Schneider Electric SE, ABB, Wartsila, Cavotec, ESL Power Systems, Inc., VINCI Energies SA, Cochran Marine LLC, Blueday Technology, SmartPlug System, Power Systems International, Igus Inc., Ensmart Power Ltd, Nidec Industrial Solutions and Hitachi Energy Ltd.
Key Developments:
In May 2023, ABB signed an agreement with Finnish shipbuilder Meyer Turku to supply two new Finnish multipurpose patrol vessels with an integrated power and propulsion package, including two Azipod thrusters and an Onboard DC Grid™ electrical system.
In September 2022, Wartsila Corporation signed a contract to supply an integrated hybrid propulsion system for two new hybrid ro-ro vessels. The ships would be built at China Merchants Jinling Shipyard (Weihai) Co., Ltd. for the Swedish shipping company Stena RoRo.
In May 2022, Siemens announced the construction of two new SIHARBOR in Kiel, which will be Europe’s largest shore-power connections and will be operating by the end of year 2023. These two shore power systems supply sustainable power through local power grid systems.
Installation Types Covered:
• Shipside
• Shoreside
Connections Covered:
• New Installation
• Retrofit
Components Covered:
• Frequency Converter
• Cables and Accessories
• Transformers
• Switchgear Devices
• Other Components
End Users Covered:
• Commercial Ports
• Passenger Ports
• Military and Government Ports
• Industrial Ports
• 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 2022, 2023, 2024, 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
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 Shore Power Market, By Installation Type
5.1 Introduction
5.2 Shipside
5.2.1 Merchant Vessel
5.2.2 Specialized Vessel
5.2.3 Offshore Support Vessel
5.2.4 Passenger Vessel
5.3 Shoreside
6 Global Shore Power Market, By Connection
6.1 Introduction
6.2 New Installation
6.3 Retrofit
7 Global Shore Power Market, By Component
7.1 Introduction
7.2 Frequency Converter
7.3 Cables and Accessories
7.4 Transformers
7.5 Switchgear Devices
7.6 Other Components
8 Global Shore Power Market, By End User
8.1 Introduction
8.2 Commercial Ports
8.3 Passenger Ports
8.4 Military and Government Ports
8.5 Industrial Ports
8.6 Other End Users
9 Global Shore Power Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Siemens
11.2 Schneider Electric SE
11.3 ABB
11.4 Wartsila
11.5 Cavotec
11.6 ESL Power Systems, Inc.
11.7 VINCI Energies SA
11.8 Cochran Marine LLC
11.9 Blueday Technology
11.10 SmartPlug System
11.11 Power Systems International
11.12 Igus Inc.
11.13 Ensmart Power Ltd
11.14 Nidec Industrial Solutions
11.15 Hitachi Energy Ltd.
List of Tables
1 Global Shore Power Market Outlook, By Region (2021-2030) ($MN)
2 Global Shore Power Market Outlook, By Installation Type (2021-2030) ($MN)
3 Global Shore Power Market Outlook, By Shipside (2021-2030) ($MN)
4 Global Shore Power Market Outlook, By Merchant Vessel (2021-2030) ($MN)
5 Global Shore Power Market Outlook, By Specialized Vessel (2021-2030) ($MN)
6 Global Shore Power Market Outlook, By Offshore Support Vessel (2021-2030) ($MN)
7 Global Shore Power Market Outlook, By Passenger Vessel (2021-2030) ($MN)
8 Global Shore Power Market Outlook, By Shoreside (2021-2030) ($MN)
9 Global Shore Power Market Outlook, By Connection (2021-2030) ($MN)
10 Global Shore Power Market Outlook, By New Installation (2021-2030) ($MN)
11 Global Shore Power Market Outlook, By Retrofit (2021-2030) ($MN)
12 Global Shore Power Market Outlook, By Component (2021-2030) ($MN)
13 Global Shore Power Market Outlook, By Frequency Converter (2021-2030) ($MN)
14 Global Shore Power Market Outlook, By Cables and Accessories (2021-2030) ($MN)
15 Global Shore Power Market Outlook, By Transformers (2021-2030) ($MN)
16 Global Shore Power Market Outlook, By Switchgear Devices (2021-2030) ($MN)
17 Global Shore Power Market Outlook, By Other Components (2021-2030) ($MN)
18 Global Shore Power Market Outlook, By End User (2021-2030) ($MN)
19 Global Shore Power Market Outlook, By Commercial Ports (2021-2030) ($MN)
20 Global Shore Power Market Outlook, By Passenger Ports (2021-2030) ($MN)
21 Global Shore Power Market Outlook, By Military and Government Ports (2021-2030) ($MN)
22 Global Shore Power Market Outlook, By Industrial Ports (2021-2030) ($MN)
23 Global Shore Power Market Outlook, By Other End Users (2021-2030) ($MN)
24 North America Shore Power Market Outlook, By Country (2021-2030) ($MN)
25 North America Shore Power Market Outlook, By Installation Type (2021-2030) ($MN)
26 North America Shore Power Market Outlook, By Shipside (2021-2030) ($MN)
27 North America Shore Power Market Outlook, By Merchant Vessel (2021-2030) ($MN)
28 North America Shore Power Market Outlook, By Specialized Vessel (2021-2030) ($MN)
29 North America Shore Power Market Outlook, By Offshore Support Vessel (2021-2030) ($MN)
30 North America Shore Power Market Outlook, By Passenger Vessel (2021-2030) ($MN)
31 North America Shore Power Market Outlook, By Shoreside (2021-2030) ($MN)
32 North America Shore Power Market Outlook, By Connection (2021-2030) ($MN)
33 North America Shore Power Market Outlook, By New Installation (2021-2030) ($MN)
34 North America Shore Power Market Outlook, By Retrofit (2021-2030) ($MN)
35 North America Shore Power Market Outlook, By Component (2021-2030) ($MN)
36 North America Shore Power Market Outlook, By Frequency Converter (2021-2030) ($MN)
37 North America Shore Power Market Outlook, By Cables and Accessories (2021-2030) ($MN)
38 North America Shore Power Market Outlook, By Transformers (2021-2030) ($MN)
39 North America Shore Power Market Outlook, By Switchgear Devices (2021-2030) ($MN)
40 North America Shore Power Market Outlook, By Other Components (2021-2030) ($MN)
41 North America Shore Power Market Outlook, By End User (2021-2030) ($MN)
42 North America Shore Power Market Outlook, By Commercial Ports (2021-2030) ($MN)
43 North America Shore Power Market Outlook, By Passenger Ports (2021-2030) ($MN)
44 North America Shore Power Market Outlook, By Military and Government Ports (2021-2030) ($MN)
45 North America Shore Power Market Outlook, By Industrial Ports (2021-2030) ($MN)
46 North America Shore Power Market Outlook, By Other End Users (2021-2030) ($MN)
47 Europe Shore Power Market Outlook, By Country (2021-2030) ($MN)
48 Europe Shore Power Market Outlook, By Installation Type (2021-2030) ($MN)
49 Europe Shore Power Market Outlook, By Shipside (2021-2030) ($MN)
50 Europe Shore Power Market Outlook, By Merchant Vessel (2021-2030) ($MN)
51 Europe Shore Power Market Outlook, By Specialized Vessel (2021-2030) ($MN)
52 Europe Shore Power Market Outlook, By Offshore Support Vessel (2021-2030) ($MN)
53 Europe Shore Power Market Outlook, By Passenger Vessel (2021-2030) ($MN)
54 Europe Shore Power Market Outlook, By Shoreside (2021-2030) ($MN)
55 Europe Shore Power Market Outlook, By Connection (2021-2030) ($MN)
56 Europe Shore Power Market Outlook, By New Installation (2021-2030) ($MN)
57 Europe Shore Power Market Outlook, By Retrofit (2021-2030) ($MN)
58 Europe Shore Power Market Outlook, By Component (2021-2030) ($MN)
59 Europe Shore Power Market Outlook, By Frequency Converter (2021-2030) ($MN)
60 Europe Shore Power Market Outlook, By Cables and Accessories (2021-2030) ($MN)
61 Europe Shore Power Market Outlook, By Transformers (2021-2030) ($MN)
62 Europe Shore Power Market Outlook, By Switchgear Devices (2021-2030) ($MN)
63 Europe Shore Power Market Outlook, By Other Components (2021-2030) ($MN)
64 Europe Shore Power Market Outlook, By End User (2021-2030) ($MN)
65 Europe Shore Power Market Outlook, By Commercial Ports (2021-2030) ($MN)
66 Europe Shore Power Market Outlook, By Passenger Ports (2021-2030) ($MN)
67 Europe Shore Power Market Outlook, By Military and Government Ports (2021-2030) ($MN)
68 Europe Shore Power Market Outlook, By Industrial Ports (2021-2030) ($MN)
69 Europe Shore Power Market Outlook, By Other End Users (2021-2030) ($MN)
70 Asia Pacific Shore Power Market Outlook, By Country (2021-2030) ($MN)
71 Asia Pacific Shore Power Market Outlook, By Installation Type (2021-2030) ($MN)
72 Asia Pacific Shore Power Market Outlook, By Shipside (2021-2030) ($MN)
73 Asia Pacific Shore Power Market Outlook, By Merchant Vessel (2021-2030) ($MN)
74 Asia Pacific Shore Power Market Outlook, By Specialized Vessel (2021-2030) ($MN)
75 Asia Pacific Shore Power Market Outlook, By Offshore Support Vessel (2021-2030) ($MN)
76 Asia Pacific Shore Power Market Outlook, By Passenger Vessel (2021-2030) ($MN)
77 Asia Pacific Shore Power Market Outlook, By Shoreside (2021-2030) ($MN)
78 Asia Pacific Shore Power Market Outlook, By Connection (2021-2030) ($MN)
79 Asia Pacific Shore Power Market Outlook, By New Installation (2021-2030) ($MN)
80 Asia Pacific Shore Power Market Outlook, By Retrofit (2021-2030) ($MN)
81 Asia Pacific Shore Power Market Outlook, By Component (2021-2030) ($MN)
82 Asia Pacific Shore Power Market Outlook, By Frequency Converter (2021-2030) ($MN)
83 Asia Pacific Shore Power Market Outlook, By Cables and Accessories (2021-2030) ($MN)
84 Asia Pacific Shore Power Market Outlook, By Transformers (2021-2030) ($MN)
85 Asia Pacific Shore Power Market Outlook, By Switchgear Devices (2021-2030) ($MN)
86 Asia Pacific Shore Power Market Outlook, By Other Components (2021-2030) ($MN)
87 Asia Pacific Shore Power Market Outlook, By End User (2021-2030) ($MN)
88 Asia Pacific Shore Power Market Outlook, By Commercial Ports (2021-2030) ($MN)
89 Asia Pacific Shore Power Market Outlook, By Passenger Ports (2021-2030) ($MN)
90 Asia Pacific Shore Power Market Outlook, By Military and Government Ports (2021-2030) ($MN)
91 Asia Pacific Shore Power Market Outlook, By Industrial Ports (2021-2030) ($MN)
92 Asia Pacific Shore Power Market Outlook, By Other End Users (2021-2030) ($MN)
93 South America Shore Power Market Outlook, By Country (2021-2030) ($MN)
94 South America Shore Power Market Outlook, By Installation Type (2021-2030) ($MN)
95 South America Shore Power Market Outlook, By Shipside (2021-2030) ($MN)
96 South America Shore Power Market Outlook, By Merchant Vessel (2021-2030) ($MN)
97 South America Shore Power Market Outlook, By Specialized Vessel (2021-2030) ($MN)
98 South America Shore Power Market Outlook, By Offshore Support Vessel (2021-2030) ($MN)
99 South America Shore Power Market Outlook, By Passenger Vessel (2021-2030) ($MN)
100 South America Shore Power Market Outlook, By Shoreside (2021-2030) ($MN)
101 South America Shore Power Market Outlook, By Connection (2021-2030) ($MN)
102 South America Shore Power Market Outlook, By New Installation (2021-2030) ($MN)
103 South America Shore Power Market Outlook, By Retrofit (2021-2030) ($MN)
104 South America Shore Power Market Outlook, By Component (2021-2030) ($MN)
105 South America Shore Power Market Outlook, By Frequency Converter (2021-2030) ($MN)
106 South America Shore Power Market Outlook, By Cables and Accessories (2021-2030) ($MN)
107 South America Shore Power Market Outlook, By Transformers (2021-2030) ($MN)
108 South America Shore Power Market Outlook, By Switchgear Devices (2021-2030) ($MN)
109 South America Shore Power Market Outlook, By Other Components (2021-2030) ($MN)
110 South America Shore Power Market Outlook, By End User (2021-2030) ($MN)
111 South America Shore Power Market Outlook, By Commercial Ports (2021-2030) ($MN)
112 South America Shore Power Market Outlook, By Passenger Ports (2021-2030) ($MN)
113 South America Shore Power Market Outlook, By Military and Government Ports (2021-2030) ($MN)
114 South America Shore Power Market Outlook, By Industrial Ports (2021-2030) ($MN)
115 South America Shore Power Market Outlook, By Other End Users (2021-2030) ($MN)
116 Middle East & Africa Shore Power Market Outlook, By Country (2021-2030) ($MN)
117 Middle East & Africa Shore Power Market Outlook, By Installation Type (2021-2030) ($MN)
118 Middle East & Africa Shore Power Market Outlook, By Shipside (2021-2030) ($MN)
119 Middle East & Africa Shore Power Market Outlook, By Merchant Vessel (2021-2030) ($MN)
120 Middle East & Africa Shore Power Market Outlook, By Specialized Vessel (2021-2030) ($MN)
121 Middle East & Africa Shore Power Market Outlook, By Offshore Support Vessel (2021-2030) ($MN)
122 Middle East & Africa Shore Power Market Outlook, By Passenger Vessel (2021-2030) ($MN)
123 Middle East & Africa Shore Power Market Outlook, By Shoreside (2021-2030) ($MN)
124 Middle East & Africa Shore Power Market Outlook, By Connection (2021-2030) ($MN)
125 Middle East & Africa Shore Power Market Outlook, By New Installation (2021-2030) ($MN)
126 Middle East & Africa Shore Power Market Outlook, By Retrofit (2021-2030) ($MN)
127 Middle East & Africa Shore Power Market Outlook, By Component (2021-2030) ($MN)
128 Middle East & Africa Shore Power Market Outlook, By Frequency Converter (2021-2030) ($MN)
129 Middle East & Africa Shore Power Market Outlook, By Cables and Accessories (2021-2030) ($MN)
130 Middle East & Africa Shore Power Market Outlook, By Transformers (2021-2030) ($MN)
131 Middle East & Africa Shore Power Market Outlook, By Switchgear Devices (2021-2030) ($MN)
132 Middle East & Africa Shore Power Market Outlook, By Other Components (2021-2030) ($MN)
133 Middle East & Africa Shore Power Market Outlook, By End User (2021-2030) ($MN)
134 Middle East & Africa Shore Power Market Outlook, By Commercial Ports (2021-2030) ($MN)
135 Middle East & Africa Shore Power Market Outlook, By Passenger Ports (2021-2030) ($MN)
136 Middle East & Africa Shore Power Market Outlook, By Military and Government Ports (2021-2030) ($MN)
137 Middle East & Africa Shore Power Market Outlook, By Industrial Ports (2021-2030) ($MN)
138 Middle East & Africa Shore Power 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.
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