Silver Nanoparticle Market
Silver Nanoparticle Market Forecasts to 2030 - Global Analysis By Type (Spherical Silver Nanoparticles, Rod Shaped Silver Nanoparticles, Triangular Silver Nanoparticles and Other Types), Synthesis Method, Application and By Geography
According to Stratistics MRC, the Global Silver Nanoparticle Market is accounted for $2.4 billion in 2023 and is expected to reach $7.6 billion by 2030 growing at a CAGR of 17.6% during the forecast period. Silver nanoparticles exhibit unique properties including antimicrobial, conductive, and optical characteristics, making them highly sought after for a range of products and processes. Additionally, they are utilized in textiles for their antibacterial properties, enhancing the performance of fabrics in medical textiles and sportswear. These nanoparticles typically range in size from 1 to 100 nanometers and possess unique physical and chemical properties due to their small size and high surface area-to-volume ratio.
According to the July 2020 article by the National Center for Biotechnology Information (NCBI), the involvement of these living organisms in the production of silver nanoparticles through biological synthesis makes the process economic and environmentally friendly.
Market Dynamics:
Driver:
Rising demand in textile industry
Silver nanoparticles possess remarkable antimicrobial properties, making them highly sought-after for various textile applications. As consumers increasingly prioritize hygiene and health-conscious products, the textile industry seeks innovative solutions to embed antimicrobial features in fabrics, thereby enhancing their appeal. Silver nanoparticles offer a versatile solution, enabling the production of antimicrobial textiles that inhibit the growth of bacteria and fungi, reducing odor and promoting cleanliness. Moreover, the incorporation of silver nanoparticles in textiles extends the lifespan of products by preventing microbial degradation, thereby contributing to sustainability efforts through reduced waste.
Restraint:
High production costs
The synthesis of silver nanoparticles often involves complex and resource-intensive processes, including specialized equipment, raw materials, and precise control over reaction parameters such as temperature and pH. High costs can deter potential adopters, especially in industries where cost-effectiveness is paramount. The need for continuous innovation to improve production efficiency and reduce costs is essential for the widespread adoption of silver nanoparticles across various sectors. However, ensuring quality and consistency in nanoparticle production adds further complexity and cost.
Opportunity:
Advancements in nanotechnology
Nanotechnology has revolutionized material science by enabling precise manipulation and engineering of materials at the nanoscale, where silver nanoparticles exhibit unique properties. The continual progress in nanotechnology research has facilitated the development of innovative synthesis methods, enhancing the production efficiency and scalability of silver nanoparticles. These advancements have led to the creation of silver nanoparticles with tailored characteristics, such as size, shape, and surface chemistry, optimizing their performance in various applications.
Threat:
Agglomeration issues
Silver nanoparticles have a propensity to agglomerate or clump together, reducing their surface area and compromising their effectiveness in various applications. Agglomeration can occur during synthesis, storage, processing, or integration into end products, leading to challenges in achieving uniform dispersion and stability. These issues not only affect the performance and functionality of silver nanoparticles but also increase production costs and hinder their widespread adoption across industries. Addressing agglomeration requires innovative strategies such as surface modification, functionalization, or encapsulation to enhance stability and prevent particle aggregation.
Covid-19 Impact:
Initially, there was a surge in demand for silver nanoparticles due to their antimicrobial properties, which were utilized in various medical applications such as disinfectants, personal protective equipment, and healthcare products. Disruptions in the global supply chain and manufacturing processes led to challenges in meeting this heightened demand. Economic uncertainties and reduced consumer spending affected the market negatively, particularly in industries such as electronics and textiles, where silver nanoparticles are utilized for their conductive and antibacterial properties. However, despite these challenges, the pandemic also stimulated research and development efforts in utilizing silver nanoparticles for novel antiviral technologies, driving potential future growth in the market as awareness of their benefits increases and new applications emerge.
The Spherical Silver Nanoparticles segment is expected to be the largest during the forecast period
Spherical Silver Nanoparticles segment has been experiencing notable growth during the anticipated period as it offers high surface area-to-volume ratios, enhancing their efficacy in various applications such as antimicrobial coatings, catalysis, and medical treatments. Their uniform shape allows for precise control over properties like size, dispersibility, and surface chemistry, making them attractive for research and commercial applications alike. Additionally, advancements in synthesis techniques have made production more scalable and cost-effective, further driving market growth. As industries increasingly recognize the benefits of spherical silver nanoparticles and invest in research and development, this segment is poised for continued expansion, contributing significantly to the overall growth and diversification of the silver nanoparticle market.
The Biological Synthesis segment is expected to have the highest CAGR during the forecast period
Owing to its sustainable and environmentally friendly production methods, Biological Synthesis segment is estimated to witness enhanced growth throughout the overcast period. Utilizing biological entities such as bacteria, fungi, plants, and algae to synthesize silver nanoparticles offers several advantages over traditional chemical methods. These include lower energy consumption, reduced use of toxic chemicals, and the ability to harness natural mechanisms for nanoparticle formation, resulting in higher purity and uniformity. Moreover, biological synthesis techniques often produce nanoparticles with unique properties and functionalities, expanding their potential applications in fields such as medicine, agriculture, and environmental remediation.
Region with largest share:
Due to the rapid industrialization and urbanization across countries like China, India, and South Korea have led to increased demand for advanced materials in various sectors such as electronics, healthcare, and textiles, Asia Pacific region is poised to hold enormous growth during the prognostication period of time. Additionally, the region's robust research and development infrastructure coupled with government initiatives promoting nanotechnology further fuel the market expansion. Furthermore, with stringent regulations encouraging the use of safe and sustainable packaging solutions, silver nanoparticles emerge as a compelling choice for combating microbial contamination and preserving food freshness in the region.
Region with highest CAGR:
As consumers increasingly prioritize food safety and longevity, manufacturers seek innovative solutions to extend shelf life and ensure product integrity, Europe region is estimated to gain considerable growth over the prognosis period. In this region, silver nanoparticles offer a potent solution, as their small size provides a large surface area for contact with pathogens, effectively inhibiting their growth and proliferation. Silver nanoparticles exhibit low toxicity to humans when used within regulatory limits, making them an attractive option for enhancing food packaging materials. These elements are boosting the regional growth.
Key players in the market
Some of the key players in Silver Nanoparticle market include Advanced Nano Products, Ames Goldsmith Corporation, Cima NanoTech Inc, Meliorumtechnologies, INC, Nanogap Sub-Nm-Powder, S.A, Nanografi Co. Inc, Nanoshel LLC, Prime Nanotechnology Co.,Ltd and Solaris Nanosciences Corporation.
Key Developments:
In August 2022, Advanced Nano Products (ANP), a Korean supplier of carbon battery nanomaterials used in electric vehicle battery production, will locate in Hardin County with a $49.6 million investment creating 93 high-wage jobs to supply battery producers including BlueOvalSK Battery Park. To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $2.6 million in tax incentives based on the company’s investment of $49.6 million
In May 2020, US-based company nanoComposix, which provides silver nanoparticles, has signed a deal to expand product distribution to customers across India. nanoComposix deals with multiple nanoparticle products which are used in anti-microbials, optical displays, drug delivery, among other applications, and through this agreement, more silver nanoparticles will be incorporated.
Types Covered:
• Spherical Silver Nanoparticles
• Rod Shaped Silver Nanoparticles
• Triangular Silver Nanoparticles
• Other Types
Synthesis Methods Covered:
• Ion Implantation
• Wet Chemistry
• Biological Synthesis
• Other Synthesis Methods
Applications Covered:
• Electronics & Information Technology
• Healthcare and Life Sciences
• Pharmaceutical
• Water Purification
• Cosmetics
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 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 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 Silver Nanoparticle Market, By Type
5.1 Introduction
5.2 Spherical Silver Nanoparticles
5.3 Rod Shaped Silver Nanoparticles
5.4 Triangular Silver Nanoparticles
5.5 Other Types
6 Global Silver Nanoparticle Market, By Synthesis Method
6.1 Introduction
6.2 Ion Implantation
6.3 Wet Chemistry
6.4 Biological Synthesis
6.5 Other Synthesis Methods
7 Global Silver Nanoparticle Market, By Application
7.1 Introduction
7.2 Electronics & Information Technology
7.3 Healthcare and Life Sciences
7.4 Pharmaceutical
7.5 Water Purification
7.6 Cosmetics
7.7 Other Applications
8 Global Silver Nanoparticle 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 Advanced Nano Products
10.2 Ames Goldsmith Corporation
10.3 Cima NanoTech Inc
10.4 Meliorumtechnologies, INC
10.5 Nanogap Sub-Nm-Powder, S.A
10.6 Nanografi Co. Inc
10.7 Nanoshel LLC
10.8 Prime Nanotechnology Co.,Ltd
10.9 Solaris Nanosciences Corporation
List of Tables
1 Global Silver Nanoparticle Market Outlook, By Region (2021-2030) ($MN)
2 Global Silver Nanoparticle Market Outlook, By Type (2021-2030) ($MN)
3 Global Silver Nanoparticle Market Outlook, By Spherical Silver Nanoparticles (2021-2030) ($MN)
4 Global Silver Nanoparticle Market Outlook, By Rod Shaped Silver Nanoparticles (2021-2030) ($MN)
5 Global Silver Nanoparticle Market Outlook, By Triangular Silver Nanoparticles (2021-2030) ($MN)
6 Global Silver Nanoparticle Market Outlook, By Other Types (2021-2030) ($MN)
7 Global Silver Nanoparticle Market Outlook, By Synthesis Method (2021-2030) ($MN)
8 Global Silver Nanoparticle Market Outlook, By Ion Implantation (2021-2030) ($MN)
9 Global Silver Nanoparticle Market Outlook, By Wet Chemistry (2021-2030) ($MN)
10 Global Silver Nanoparticle Market Outlook, By Biological Synthesis (2021-2030) ($MN)
11 Global Silver Nanoparticle Market Outlook, By Other Synthesis Methods (2021-2030) ($MN)
12 Global Silver Nanoparticle Market Outlook, By Application (2021-2030) ($MN)
13 Global Silver Nanoparticle Market Outlook, By Electronics & Information Technology (2021-2030) ($MN)
14 Global Silver Nanoparticle Market Outlook, By Healthcare and Life Sciences (2021-2030) ($MN)
15 Global Silver Nanoparticle Market Outlook, By Pharmaceutical (2021-2030) ($MN)
16 Global Silver Nanoparticle Market Outlook, By Water Purification (2021-2030) ($MN)
17 Global Silver Nanoparticle Market Outlook, By Cosmetics (2021-2030) ($MN)
18 Global Silver Nanoparticle Market Outlook, By Other Applications (2021-2030) ($MN)
19 North America Silver Nanoparticle Market Outlook, By Country (2021-2030) ($MN)
20 North America Silver Nanoparticle Market Outlook, By Type (2021-2030) ($MN)
21 North America Silver Nanoparticle Market Outlook, By Spherical Silver Nanoparticles (2021-2030) ($MN)
22 North America Silver Nanoparticle Market Outlook, By Rod Shaped Silver Nanoparticles (2021-2030) ($MN)
23 North America Silver Nanoparticle Market Outlook, By Triangular Silver Nanoparticles (2021-2030) ($MN)
24 North America Silver Nanoparticle Market Outlook, By Other Types (2021-2030) ($MN)
25 North America Silver Nanoparticle Market Outlook, By Synthesis Method (2021-2030) ($MN)
26 North America Silver Nanoparticle Market Outlook, By Ion Implantation (2021-2030) ($MN)
27 North America Silver Nanoparticle Market Outlook, By Wet Chemistry (2021-2030) ($MN)
28 North America Silver Nanoparticle Market Outlook, By Biological Synthesis (2021-2030) ($MN)
29 North America Silver Nanoparticle Market Outlook, By Other Synthesis Methods (2021-2030) ($MN)
30 North America Silver Nanoparticle Market Outlook, By Application (2021-2030) ($MN)
31 North America Silver Nanoparticle Market Outlook, By Electronics & Information Technology (2021-2030) ($MN)
32 North America Silver Nanoparticle Market Outlook, By Healthcare and Life Sciences (2021-2030) ($MN)
33 North America Silver Nanoparticle Market Outlook, By Pharmaceutical (2021-2030) ($MN)
34 North America Silver Nanoparticle Market Outlook, By Water Purification (2021-2030) ($MN)
35 North America Silver Nanoparticle Market Outlook, By Cosmetics (2021-2030) ($MN)
36 North America Silver Nanoparticle Market Outlook, By Other Applications (2021-2030) ($MN)
37 Europe Silver Nanoparticle Market Outlook, By Country (2021-2030) ($MN)
38 Europe Silver Nanoparticle Market Outlook, By Type (2021-2030) ($MN)
39 Europe Silver Nanoparticle Market Outlook, By Spherical Silver Nanoparticles (2021-2030) ($MN)
40 Europe Silver Nanoparticle Market Outlook, By Rod Shaped Silver Nanoparticles (2021-2030) ($MN)
41 Europe Silver Nanoparticle Market Outlook, By Triangular Silver Nanoparticles (2021-2030) ($MN)
42 Europe Silver Nanoparticle Market Outlook, By Other Types (2021-2030) ($MN)
43 Europe Silver Nanoparticle Market Outlook, By Synthesis Method (2021-2030) ($MN)
44 Europe Silver Nanoparticle Market Outlook, By Ion Implantation (2021-2030) ($MN)
45 Europe Silver Nanoparticle Market Outlook, By Wet Chemistry (2021-2030) ($MN)
46 Europe Silver Nanoparticle Market Outlook, By Biological Synthesis (2021-2030) ($MN)
47 Europe Silver Nanoparticle Market Outlook, By Other Synthesis Methods (2021-2030) ($MN)
48 Europe Silver Nanoparticle Market Outlook, By Application (2021-2030) ($MN)
49 Europe Silver Nanoparticle Market Outlook, By Electronics & Information Technology (2021-2030) ($MN)
50 Europe Silver Nanoparticle Market Outlook, By Healthcare and Life Sciences (2021-2030) ($MN)
51 Europe Silver Nanoparticle Market Outlook, By Pharmaceutical (2021-2030) ($MN)
52 Europe Silver Nanoparticle Market Outlook, By Water Purification (2021-2030) ($MN)
53 Europe Silver Nanoparticle Market Outlook, By Cosmetics (2021-2030) ($MN)
54 Europe Silver Nanoparticle Market Outlook, By Other Applications (2021-2030) ($MN)
55 Asia Pacific Silver Nanoparticle Market Outlook, By Country (2021-2030) ($MN)
56 Asia Pacific Silver Nanoparticle Market Outlook, By Type (2021-2030) ($MN)
57 Asia Pacific Silver Nanoparticle Market Outlook, By Spherical Silver Nanoparticles (2021-2030) ($MN)
58 Asia Pacific Silver Nanoparticle Market Outlook, By Rod Shaped Silver Nanoparticles (2021-2030) ($MN)
59 Asia Pacific Silver Nanoparticle Market Outlook, By Triangular Silver Nanoparticles (2021-2030) ($MN)
60 Asia Pacific Silver Nanoparticle Market Outlook, By Other Types (2021-2030) ($MN)
61 Asia Pacific Silver Nanoparticle Market Outlook, By Synthesis Method (2021-2030) ($MN)
62 Asia Pacific Silver Nanoparticle Market Outlook, By Ion Implantation (2021-2030) ($MN)
63 Asia Pacific Silver Nanoparticle Market Outlook, By Wet Chemistry (2021-2030) ($MN)
64 Asia Pacific Silver Nanoparticle Market Outlook, By Biological Synthesis (2021-2030) ($MN)
65 Asia Pacific Silver Nanoparticle Market Outlook, By Other Synthesis Methods (2021-2030) ($MN)
66 Asia Pacific Silver Nanoparticle Market Outlook, By Application (2021-2030) ($MN)
67 Asia Pacific Silver Nanoparticle Market Outlook, By Electronics & Information Technology (2021-2030) ($MN)
68 Asia Pacific Silver Nanoparticle Market Outlook, By Healthcare and Life Sciences (2021-2030) ($MN)
69 Asia Pacific Silver Nanoparticle Market Outlook, By Pharmaceutical (2021-2030) ($MN)
70 Asia Pacific Silver Nanoparticle Market Outlook, By Water Purification (2021-2030) ($MN)
71 Asia Pacific Silver Nanoparticle Market Outlook, By Cosmetics (2021-2030) ($MN)
72 Asia Pacific Silver Nanoparticle Market Outlook, By Other Applications (2021-2030) ($MN)
73 South America Silver Nanoparticle Market Outlook, By Country (2021-2030) ($MN)
74 South America Silver Nanoparticle Market Outlook, By Type (2021-2030) ($MN)
75 South America Silver Nanoparticle Market Outlook, By Spherical Silver Nanoparticles (2021-2030) ($MN)
76 South America Silver Nanoparticle Market Outlook, By Rod Shaped Silver Nanoparticles (2021-2030) ($MN)
77 South America Silver Nanoparticle Market Outlook, By Triangular Silver Nanoparticles (2021-2030) ($MN)
78 South America Silver Nanoparticle Market Outlook, By Other Types (2021-2030) ($MN)
79 South America Silver Nanoparticle Market Outlook, By Synthesis Method (2021-2030) ($MN)
80 South America Silver Nanoparticle Market Outlook, By Ion Implantation (2021-2030) ($MN)
81 South America Silver Nanoparticle Market Outlook, By Wet Chemistry (2021-2030) ($MN)
82 South America Silver Nanoparticle Market Outlook, By Biological Synthesis (2021-2030) ($MN)
83 South America Silver Nanoparticle Market Outlook, By Other Synthesis Methods (2021-2030) ($MN)
84 South America Silver Nanoparticle Market Outlook, By Application (2021-2030) ($MN)
85 South America Silver Nanoparticle Market Outlook, By Electronics & Information Technology (2021-2030) ($MN)
86 South America Silver Nanoparticle Market Outlook, By Healthcare and Life Sciences (2021-2030) ($MN)
87 South America Silver Nanoparticle Market Outlook, By Pharmaceutical (2021-2030) ($MN)
88 South America Silver Nanoparticle Market Outlook, By Water Purification (2021-2030) ($MN)
89 South America Silver Nanoparticle Market Outlook, By Cosmetics (2021-2030) ($MN)
90 South America Silver Nanoparticle Market Outlook, By Other Applications (2021-2030) ($MN)
91 Middle East & Africa Silver Nanoparticle Market Outlook, By Country (2021-2030) ($MN)
92 Middle East & Africa Silver Nanoparticle Market Outlook, By Type (2021-2030) ($MN)
93 Middle East & Africa Silver Nanoparticle Market Outlook, By Spherical Silver Nanoparticles (2021-2030) ($MN)
94 Middle East & Africa Silver Nanoparticle Market Outlook, By Rod Shaped Silver Nanoparticles (2021-2030) ($MN)
95 Middle East & Africa Silver Nanoparticle Market Outlook, By Triangular Silver Nanoparticles (2021-2030) ($MN)
96 Middle East & Africa Silver Nanoparticle Market Outlook, By Other Types (2021-2030) ($MN)
97 Middle East & Africa Silver Nanoparticle Market Outlook, By Synthesis Method (2021-2030) ($MN)
98 Middle East & Africa Silver Nanoparticle Market Outlook, By Ion Implantation (2021-2030) ($MN)
99 Middle East & Africa Silver Nanoparticle Market Outlook, By Wet Chemistry (2021-2030) ($MN)
100 Middle East & Africa Silver Nanoparticle Market Outlook, By Biological Synthesis (2021-2030) ($MN)
101 Middle East & Africa Silver Nanoparticle Market Outlook, By Other Synthesis Methods (2021-2030) ($MN)
102 Middle East & Africa Silver Nanoparticle Market Outlook, By Application (2021-2030) ($MN)
103 Middle East & Africa Silver Nanoparticle Market Outlook, By Electronics & Information Technology (2021-2030) ($MN)
104 Middle East & Africa Silver Nanoparticle Market Outlook, By Healthcare and Life Sciences (2021-2030) ($MN)
105 Middle East & Africa Silver Nanoparticle Market Outlook, By Pharmaceutical (2021-2030) ($MN)
106 Middle East & Africa Silver Nanoparticle Market Outlook, By Water Purification (2021-2030) ($MN)
107 Middle East & Africa Silver Nanoparticle Market Outlook, By Cosmetics (2021-2030) ($MN)
108 Middle East & Africa Silver Nanoparticle Market Outlook, By Other Applications (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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