Smart Elevator Automation System Market
PUBLISHED: 2023 ID: SMRC23863
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Smart Elevator Automation System Market

Smart Elevator Automation System Market Forecasts to 2030 - Global Analysis By Service (Repair & Maintenance Service, Modernization Service, Installation Service and Other Services), Component, End User and By Geography

4.2 (62 reviews)
4.2 (62 reviews)
Published: 2023 ID: SMRC23863

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

2021-2030

Estimated Year Value (2023)

US $20.82 BN

Projected Year Value (2030)

US $54.05 BN

CAGR (2023 - 2030)

14.6%

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 Smart Elevator Automation System Market is accounted for $20.82 billion in 2023 and is expected to reach $54.05 billion by 2030 growing at a CAGR of 14.6% during the forecast period. The smart elevator automation system is a new generation of control system that offers various facilities and security. It is outfitted with cutting-edge technologies. It is made to effectively manage passenger flow while consuming the least amount of energy possible. In order to improve the effectiveness, safety, and user experience of elevators inside a building or facility, it alludes to a sophisticated and technologically cutting-edge control and management system. This system makes use of a variety of sensors, data analytics, and connection technologies to enhance passenger convenience, optimize elevator operations, and lower energy usage.

According to the United Nations (UN), it has estimated that approximately 55% of the world's population lived in urban areas. By 2050, approximately 66% of the world's population is anticipated to reside in urban areas.



Market Dynamics:

Driver:

Increasing investments in smart cities

The growing investment in smart city initiatives around the world is mostly driven by increased migration, which has resulted in the ongoing expansion of metropolitan areas. Smart cities will offer more innovative solutions that can be used to ease the burden brought on by the expansion of the urban population. The implementation of energy-efficient road networks will result in effective public transportation systems. The growing momentum of smart cities and significant investments in their development are expected to propel the demand during the forecast period.

Restraint:

Technical issues

Smart elevators are susceptible to technological problems and breakdowns, just like any other type of technology. These problems can cause passengers inconvenience and elevator service disruption, and they necessitate prompt maintenance. The internet-connected nature of smart elevators makes them potentially vulnerable to cyber attacks. Hackers might be able to take over the elevators if they aren't properly protected, posing a risk to both safety and security. These are the elements preventing the market from expanding.

Opportunity:

Management with IoT solutions

Lifts have created over the long haul to keep on with the need, using carbon fiber links and all the more durable apparatus to keep them moving. The Internet of Things has made smart elevator design even more advanced at the moment. Elevators are becoming more technologically advanced as a result of IoT. Nowadays, IoT-enabled smart elevators are used for data collection, traffic flow tracking, and even as powerful advertising tools. This is the factor propelling the growth of the market.

Threat:

High investment costs

The beginning stage's huge investment requirement is the difficult aspect. In comparison to traditional elevators, the cost of the elevators is higher overall due to expenditures associated with installation, integration of automation and security systems, after-sale services, and timely maintenance. Due to a lack of project finance, construction companies also struggle to install these elevators in mid-rise buildings or apartments. The market is anticipated to increase slowly in the upcoming years as a result of the aforementioned issue.

Covid-19 Impact:

The effects of COVID-19 have been catastrophic for the construction industry. Building development has been put on hold ever since lockdowns were implemented all throughout the world. People who work have gone back to their hometowns. Due to the uncertain economy and the developing financial crisis in the smart elevator market, consumers are also reluctant to invest in infrastructure properties. However, it's expected that the use of smart elevators for maintenance and repair will continue to grow.

The security and control system segment is expected to be the largest during the forecast period

The security and control system segment is expected to be the largest during the forecast period. Regenerative braking and lighting control are among the energy management tools that businesses operating in different nations are implementing to cut down on energy use and expenditures. The rise of this market segment's revenue is primarily being driven by significant investments in AI and the creation of ML models to optimize elevator usage, decrease wait times, and improve energy efficiency.

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

The commercial segment is expected to have the highest CAGR during the forecast period. The need for modernization services in business buildings is typically driven by the implementation of safety rules for escalators and elevators. Elevator control systems and cabins can be upgraded or replaced with new components and technology as part of renovation. It extends the life of the elevator, conserves energy, guarantees a comfortable and secure ride for passengers, and boosts user friendliness.

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to already well-established infrastructure and early technology adopters. Additionally, they are supplying the increasing need for energy-saving gadgets and parts, including small-size energy batteries for emergencies. Significant investments in producing and installing smart elevators across the area, as well as rising demand for high-performance elevator systems in healthcare facilities, are the main factors propelling market revenue development.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period owing to rapid infrastructure development and increasing urbanization. The quick development of elevator control technologies, including destination selection control and others, offers profitable potential for market players. Other factors contributing to the penetration include strict government regulations and standards designed to reduce operational costs, replacing outdated elevators in buildings and cutting-edge access control technologies.



Key players in the market

Some of the key players in Smart Elevator Automation System market include Tyco International Limited, Hitachi Ltd., Kone Corporation, Fujitec Co. Ltd., Otis Elevator Company, ThyssenKrupp Elevator AG, Schindler Group, Mitsubishi Electric Corporation, Honeywell International Inc., Johnson Controls Inc., ThyssenKrupp Elevator Technology, Bosch Security Systems, Toshiba Elevator and Building Systems Corporation, Sigma Elevator Company and Huawei Technologies Co., Ltd.

Key Developments:

In August 2022, Otis and Sharry announced a global partnership with its pilot program bringing elevator access integration to a modern AAA class administrative building SmichOFF located in Prague, Czech Republic.

In June 2022, TK Elevator and Infosys announced a global strategic collaboration. The global seven-year collaboration is an extension of the successful modernization of TK Elevator’s IT infrastructure in Europe and Africa.

In May 2022, KONE Elevators India, a wholly-owned subsidiary of KONE Corporation announced the installation of world's largest passenger lift, which can carry over 200 people at a go, at the Jio World Centre in the city.

Services Covered:
• Repair & Maintenance Service
• Modernization Service
• Installation Service
• Other Services

Components Covered:
• Security and Control System
• Biometric
• Building Management System
• Touch Screen and Keypad
• Sensors, Motors and Automation System
• Card Reader
• Other Components

End Users Covered:
• Residential
• Commercial
• Industrial
• Institutional
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
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 Smart Elevator Automation System Market, By Service
5.1 Introduction
5.2 Repair & Maintenance Service
5.3 Modernization Service
5.4 Installation Service
5.5 Other Services

6 Global Smart Elevator Automation System Market, By Component
6.1 Introduction
6.2 Security and Control System
6.3 Biometric
6.4 Building Management System
6.5 Touch Screen and Keypad
6.6 Sensors, Motors and Automation System
6.7 Card Reader
6.8 Other Components

7 Global Smart Elevator Automation System Market, By End User
7.1 Introduction
7.2 Residential
7.3 Commercial
7.4 Industrial
7.5 Institutional
7.6 Other End Users

8 Global Smart Elevator Automation System 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 Tyco International Limited
10.2 Hitachi Ltd.
10.3 Kone Corporation
10.4 Fujitec Co. Ltd.
10.5 Otis Elevator Company
10.6 ThyssenKrupp Elevator AG
10.7 Schindler Group
10.8 Mitsubishi Electric Corporation
10.9 Honeywell International Inc.
10.10 Johnson Controls Inc.
10.11 ThyssenKrupp Elevator Technology
10.12 Bosch Security Systems
10.13 Toshiba Elevator and Building Systems Corporation
10.14 Sigma Elevator Company
10.15 Huawei Technologies Co., Ltd.

List of Tables
1 Global Smart Elevator Automation System Market Outlook, By Region (2021-2030) ($MN)
2 Global Smart Elevator Automation System Market Outlook, By Service (2021-2030) ($MN)
3 Global Smart Elevator Automation System Market Outlook, By Repair & Maintenance Service (2021-2030) ($MN)
4 Global Smart Elevator Automation System Market Outlook, By Modernization Service (2021-2030) ($MN)
5 Global Smart Elevator Automation System Market Outlook, By Installation Service (2021-2030) ($MN)
6 Global Smart Elevator Automation System Market Outlook, By Other Services (2021-2030) ($MN)
7 Global Smart Elevator Automation System Market Outlook, By Component (2021-2030) ($MN)
8 Global Smart Elevator Automation System Market Outlook, By Security and Control System (2021-2030) ($MN)
9 Global Smart Elevator Automation System Market Outlook, By Biometric (2021-2030) ($MN)
10 Global Smart Elevator Automation System Market Outlook, By Building Management System (2021-2030) ($MN)
11 Global Smart Elevator Automation System Market Outlook, By Touch Screen and Keypad (2021-2030) ($MN)
12 Global Smart Elevator Automation System Market Outlook, By Sensors, Motors and Automation System (2021-2030) ($MN)
13 Global Smart Elevator Automation System Market Outlook, By Card Reader (2021-2030) ($MN)
14 Global Smart Elevator Automation System Market Outlook, By Other Components (2021-2030) ($MN)
15 Global Smart Elevator Automation System Market Outlook, By End User (2021-2030) ($MN)
16 Global Smart Elevator Automation System Market Outlook, By Residential (2021-2030) ($MN)
17 Global Smart Elevator Automation System Market Outlook, By Commercial (2021-2030) ($MN)
18 Global Smart Elevator Automation System Market Outlook, By Industrial (2021-2030) ($MN)
19 Global Smart Elevator Automation System Market Outlook, By Institutional (2021-2030) ($MN)
20 Global Smart Elevator Automation System Market Outlook, By Other End Users (2021-2030) ($MN)
21 North America Smart Elevator Automation System Market Outlook, By Country (2021-2030) ($MN)
22 North America Smart Elevator Automation System Market Outlook, By Service (2021-2030) ($MN)
23 North America Smart Elevator Automation System Market Outlook, By Repair & Maintenance Service (2021-2030) ($MN)
24 North America Smart Elevator Automation System Market Outlook, By Modernization Service (2021-2030) ($MN)
25 North America Smart Elevator Automation System Market Outlook, By Installation Service (2021-2030) ($MN)
26 North America Smart Elevator Automation System Market Outlook, By Other Services (2021-2030) ($MN)
27 North America Smart Elevator Automation System Market Outlook, By Component (2021-2030) ($MN)
28 North America Smart Elevator Automation System Market Outlook, By Security and Control System (2021-2030) ($MN)
29 North America Smart Elevator Automation System Market Outlook, By Biometric (2021-2030) ($MN)
30 North America Smart Elevator Automation System Market Outlook, By Building Management System (2021-2030) ($MN)
31 North America Smart Elevator Automation System Market Outlook, By Touch Screen and Keypad (2021-2030) ($MN)
32 North America Smart Elevator Automation System Market Outlook, By Sensors, Motors and Automation System (2021-2030) ($MN)
33 North America Smart Elevator Automation System Market Outlook, By Card Reader (2021-2030) ($MN)
34 North America Smart Elevator Automation System Market Outlook, By Other Components (2021-2030) ($MN)
35 North America Smart Elevator Automation System Market Outlook, By End User (2021-2030) ($MN)
36 North America Smart Elevator Automation System Market Outlook, By Residential (2021-2030) ($MN)
37 North America Smart Elevator Automation System Market Outlook, By Commercial (2021-2030) ($MN)
38 North America Smart Elevator Automation System Market Outlook, By Industrial (2021-2030) ($MN)
39 North America Smart Elevator Automation System Market Outlook, By Institutional (2021-2030) ($MN)
40 North America Smart Elevator Automation System Market Outlook, By Other End Users (2021-2030) ($MN)
41 Europe Smart Elevator Automation System Market Outlook, By Country (2021-2030) ($MN)
42 Europe Smart Elevator Automation System Market Outlook, By Service (2021-2030) ($MN)
43 Europe Smart Elevator Automation System Market Outlook, By Repair & Maintenance Service (2021-2030) ($MN)
44 Europe Smart Elevator Automation System Market Outlook, By Modernization Service (2021-2030) ($MN)
45 Europe Smart Elevator Automation System Market Outlook, By Installation Service (2021-2030) ($MN)
46 Europe Smart Elevator Automation System Market Outlook, By Other Services (2021-2030) ($MN)
47 Europe Smart Elevator Automation System Market Outlook, By Component (2021-2030) ($MN)
48 Europe Smart Elevator Automation System Market Outlook, By Security and Control System (2021-2030) ($MN)
49 Europe Smart Elevator Automation System Market Outlook, By Biometric (2021-2030) ($MN)
50 Europe Smart Elevator Automation System Market Outlook, By Building Management System (2021-2030) ($MN)
51 Europe Smart Elevator Automation System Market Outlook, By Touch Screen and Keypad (2021-2030) ($MN)
52 Europe Smart Elevator Automation System Market Outlook, By Sensors, Motors and Automation System (2021-2030) ($MN)
53 Europe Smart Elevator Automation System Market Outlook, By Card Reader (2021-2030) ($MN)
54 Europe Smart Elevator Automation System Market Outlook, By Other Components (2021-2030) ($MN)
55 Europe Smart Elevator Automation System Market Outlook, By End User (2021-2030) ($MN)
56 Europe Smart Elevator Automation System Market Outlook, By Residential (2021-2030) ($MN)
57 Europe Smart Elevator Automation System Market Outlook, By Commercial (2021-2030) ($MN)
58 Europe Smart Elevator Automation System Market Outlook, By Industrial (2021-2030) ($MN)
59 Europe Smart Elevator Automation System Market Outlook, By Institutional (2021-2030) ($MN)
60 Europe Smart Elevator Automation System Market Outlook, By Other End Users (2021-2030) ($MN)
61 Asia Pacific Smart Elevator Automation System Market Outlook, By Country (2021-2030) ($MN)
62 Asia Pacific Smart Elevator Automation System Market Outlook, By Service (2021-2030) ($MN)
63 Asia Pacific Smart Elevator Automation System Market Outlook, By Repair & Maintenance Service (2021-2030) ($MN)
64 Asia Pacific Smart Elevator Automation System Market Outlook, By Modernization Service (2021-2030) ($MN)
65 Asia Pacific Smart Elevator Automation System Market Outlook, By Installation Service (2021-2030) ($MN)
66 Asia Pacific Smart Elevator Automation System Market Outlook, By Other Services (2021-2030) ($MN)
67 Asia Pacific Smart Elevator Automation System Market Outlook, By Component (2021-2030) ($MN)
68 Asia Pacific Smart Elevator Automation System Market Outlook, By Security and Control System (2021-2030) ($MN)
69 Asia Pacific Smart Elevator Automation System Market Outlook, By Biometric (2021-2030) ($MN)
70 Asia Pacific Smart Elevator Automation System Market Outlook, By Building Management System (2021-2030) ($MN)
71 Asia Pacific Smart Elevator Automation System Market Outlook, By Touch Screen and Keypad (2021-2030) ($MN)
72 Asia Pacific Smart Elevator Automation System Market Outlook, By Sensors, Motors and Automation System (2021-2030) ($MN)
73 Asia Pacific Smart Elevator Automation System Market Outlook, By Card Reader (2021-2030) ($MN)
74 Asia Pacific Smart Elevator Automation System Market Outlook, By Other Components (2021-2030) ($MN)
75 Asia Pacific Smart Elevator Automation System Market Outlook, By End User (2021-2030) ($MN)
76 Asia Pacific Smart Elevator Automation System Market Outlook, By Residential (2021-2030) ($MN)
77 Asia Pacific Smart Elevator Automation System Market Outlook, By Commercial (2021-2030) ($MN)
78 Asia Pacific Smart Elevator Automation System Market Outlook, By Industrial (2021-2030) ($MN)
79 Asia Pacific Smart Elevator Automation System Market Outlook, By Institutional (2021-2030) ($MN)
80 Asia Pacific Smart Elevator Automation System Market Outlook, By Other End Users (2021-2030) ($MN)
81 South America Smart Elevator Automation System Market Outlook, By Country (2021-2030) ($MN)
82 South America Smart Elevator Automation System Market Outlook, By Service (2021-2030) ($MN)
83 South America Smart Elevator Automation System Market Outlook, By Repair & Maintenance Service (2021-2030) ($MN)
84 South America Smart Elevator Automation System Market Outlook, By Modernization Service (2021-2030) ($MN)
85 South America Smart Elevator Automation System Market Outlook, By Installation Service (2021-2030) ($MN)
86 South America Smart Elevator Automation System Market Outlook, By Other Services (2021-2030) ($MN)
87 South America Smart Elevator Automation System Market Outlook, By Component (2021-2030) ($MN)
88 South America Smart Elevator Automation System Market Outlook, By Security and Control System (2021-2030) ($MN)
89 South America Smart Elevator Automation System Market Outlook, By Biometric (2021-2030) ($MN)
90 South America Smart Elevator Automation System Market Outlook, By Building Management System (2021-2030) ($MN)
91 South America Smart Elevator Automation System Market Outlook, By Touch Screen and Keypad (2021-2030) ($MN)
92 South America Smart Elevator Automation System Market Outlook, By Sensors, Motors and Automation System (2021-2030) ($MN)
93 South America Smart Elevator Automation System Market Outlook, By Card Reader (2021-2030) ($MN)
94 South America Smart Elevator Automation System Market Outlook, By Other Components (2021-2030) ($MN)
95 South America Smart Elevator Automation System Market Outlook, By End User (2021-2030) ($MN)
96 South America Smart Elevator Automation System Market Outlook, By Residential (2021-2030) ($MN)
97 South America Smart Elevator Automation System Market Outlook, By Commercial (2021-2030) ($MN)
98 South America Smart Elevator Automation System Market Outlook, By Industrial (2021-2030) ($MN)
99 South America Smart Elevator Automation System Market Outlook, By Institutional (2021-2030) ($MN)
100 South America Smart Elevator Automation System Market Outlook, By Other End Users (2021-2030) ($MN)
101 Middle East & Africa Smart Elevator Automation System Market Outlook, By Country (2021-2030) ($MN)
102 Middle East & Africa Smart Elevator Automation System Market Outlook, By Service (2021-2030) ($MN)
103 Middle East & Africa Smart Elevator Automation System Market Outlook, By Repair & Maintenance Service (2021-2030) ($MN)
104 Middle East & Africa Smart Elevator Automation System Market Outlook, By Modernization Service (2021-2030) ($MN)
105 Middle East & Africa Smart Elevator Automation System Market Outlook, By Installation Service (2021-2030) ($MN)
106 Middle East & Africa Smart Elevator Automation System Market Outlook, By Other Services (2021-2030) ($MN)
107 Middle East & Africa Smart Elevator Automation System Market Outlook, By Component (2021-2030) ($MN)
108 Middle East & Africa Smart Elevator Automation System Market Outlook, By Security and Control System (2021-2030) ($MN)
109 Middle East & Africa Smart Elevator Automation System Market Outlook, By Biometric (2021-2030) ($MN)
110 Middle East & Africa Smart Elevator Automation System Market Outlook, By Building Management System (2021-2030) ($MN)
111 Middle East & Africa Smart Elevator Automation System Market Outlook, By Touch Screen and Keypad (2021-2030) ($MN)
112 Middle East & Africa Smart Elevator Automation System Market Outlook, By Sensors, Motors and Automation System (2021-2030) ($MN)
113 Middle East & Africa Smart Elevator Automation System Market Outlook, By Card Reader (2021-2030) ($MN)
114 Middle East & Africa Smart Elevator Automation System Market Outlook, By Other Components (2021-2030) ($MN)
115 Middle East & Africa Smart Elevator Automation System Market Outlook, By End User (2021-2030) ($MN)
116 Middle East & Africa Smart Elevator Automation System Market Outlook, By Residential (2021-2030) ($MN)
117 Middle East & Africa Smart Elevator Automation System Market Outlook, By Commercial (2021-2030) ($MN)
118 Middle East & Africa Smart Elevator Automation System Market Outlook, By Industrial (2021-2030) ($MN)
119 Middle East & Africa Smart Elevator Automation System Market Outlook, By Institutional (2021-2030) ($MN)
120 Middle East & Africa Smart Elevator Automation System Market Outlook, By Other End Users (2021-2030) ($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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