Smart Factory Market
PUBLISHED: 2023 ID: SMRC23921
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Smart Factory Market

Smart Factory Market Forecasts to 2030 - Global Analysis By Component (Hardware, Software, Services, Machine Vision System, Control Devices and Other Components), Connectivity (Wired Connectivity and Wireless Connectivity), Technology, End User and By Geography

4.8 (92 reviews)
4.8 (92 reviews)
Published: 2023 ID: SMRC23921

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 $98.17 BN

Projected Year Value (2030)

US $140.28 BN

CAGR (2023 - 2030)

5.2%

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

Europe

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Smart Factory Market is accounted for $98.17 billion in 2023 and is expected to reach $140.28 billion by 2030 growing at a CAGR of 5.2% during the forecast period. A smart factory is a highly digitized and connected production facility that relies on smart manufacturing. It uses networked gadgets, devices, and production systems to gather and share real-time data. The benefits of smart factories are growing, including better data insights, quicker problem solving, increased plant productivity, improved safety and quality control, seamless data exchange, on-time delivery, and ongoing product improvement.

According to International Federation of Robotics, a nonprofit organization headquartered in Germany, sales of new robots increased somewhat in 2021 by 0.5%, while robot installations are predicted to rebound rapidly and increase by 13%.



Market Dynamics:

Driver:

Technology advancements and improved supply chain management

The development of technology is a key factor in the market for smart factories. Technological advancements play a crucial role in driving the smart factory market. Innovations such as AI, machine learning, cloud computing, and edge computing enable more sophisticated automation, predictive analytics, and connectivity between machines and systems. These developments increase the availability, scalability, and effectiveness of smart manufacturing solutions. Furthermore, by offering real-time visibility into inventory, logistics, and demand forecasts, smart factories support improved supply chain management. Manufacturers may decrease lead times, improve customer satisfaction, and optimise inventory levels with greater coordination and integration throughout the supply chain.

Restraint:

High initial investment

Implementing smart factory technologies requires a significant upfront investment. The cost of deploying advanced automation systems, integrating various technologies, and upgrading infrastructure can be substantial. This can be a barrier for small and medium-sized enterprises (SMEs) or organizations with limited financial resources, limiting their ability to adopt smart factory solutions. These factor can hampered market growth.

Opportunity:

Development of 5G technology

Smart factory owners can employ cellular technologies more securely and customise them for particular applications with the help of 5G technology. They can collect data from production networks without connecting to the machines by installing sensors on 5G-enabled equipment, enabling smooth real-time optimisation. For reliable and powerful connections, several firms are implementing 5G networks. By installing a 5G network in factories, wired connectivity is no longer required, allowing for high-speed manufacturing with maximum flexibility and minimal downtime. Having a network that can be supported in terms of speed, coverage, and reliability becomes essential for industries. The advent of the 5G network will provide factories with a single source for solutions and open up huge prospects for smart factories.

Threat:

Cybersecurity Risks

Smart factories heavily rely on interconnected systems, IoT devices, and data exchange, making them vulnerable to cybersecurity threats. As more devices and components are connected, the attack surface increases, and the risk of cyber attacks, data breaches, and industrial espionage grows. Protecting sensitive data, intellectual property, and ensuring the integrity of systems and networks is a critical challenge for smart factories.

Covid-19 Impact

The COVID-19 pandemic negatively impacted the smart factory market as lockdown orders were issued worldwide, which hindered production activities and made it harder to maintain industries. A hindrance to the adoption of smart manufacturing technology also contributed to a decline in growth. The epidemic seriously impeded the deployment of Industry 4.0, which ultimately harmed smart industries. The market revealed a significant influence on the supply side. Industries such as automotive, transportation, aerospace & defence, oil & gas, and energy & power witnessed a sharp decline in revenues. However, the COVID-19 pandemic compelled the manufacturing industry to reduce its dependency on manual labour and adopt advanced technologies such as AI, machine learning, and IoT. Thus, there was significant growth in the adoption of smart manufacturing technologies among various industries

The Automotive segment is expected to be the largest during the forecast period

The Automotive segment is estimated to hold the largest share. Smart factories are revolutionizing automotive manufacturing by leveraging technologies such as robotics, AI, IoT, and big data analytics. These advancements enable streamlined production processes, enhanced quality control, and improved operational efficiency. Smart factories in the automotive sector offer benefits such as flexible production, real-time monitoring, predictive maintenance, and supply chain optimization. Moreover, the integration of automation and digital technologies enables automotive manufacturers to meet increasing demands for customization, reduce production costs, and accelerate time-to-market. As the automotive industry evolves towards electric vehicles, autonomous driving, and connected mobility, smart factories play a crucial role in driving innovation and competitiveness in this sector.

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

The Industrial Robots segment is anticipated to have lucrative growth during the forecast period. Industrial robots are programmable machines capable of performing repetitive tasks with precision and speed. They play a crucial role in smart factories by handling assembly, material handling, and quality control operations. Furthermore, industrial robots enable higher productivity, improved product quality, and reduced labour costs. They can be integrated with other smart factory technologies such as AI, IoT, and machine vision systems to enable intelligent decision-making and adaptability. As the demand for automation increases across industries, the industrial robots segment is expected to witness substantial growth, driving the advancement of smart factory capabilities.

Region with largest share:

Europe commanded the largest market share during the extrapolated period. The research and innovation (R&I) programmes of the European Union have provided considerable support for the development of smart technologies and solutions that enable the European manufacturing sector to fully capitalise on digital potential. Several initiatives are funded by the "Factories of the Future Public-Private Partnership," which aims to help EU manufacturing businesses and SMEs meet global competitiveness by developing the essential core enabling technologies across multiple end-user industries. Additionally, the UK's smart factory market grew at the highest rate in the European region, while the German smart factory market held the largest market share.

Region with highest CAGR:

Asia-Pacific region is expected to witness profitable growth over the projection period. With rapid industrialization and the adoption of advanced technologies, countries like China, Japan, South Korea, and India are driving the expansion of smart factories in the region. Smart factories integrate automation, artificial intelligence, the Internet of Things (IoT), and data analytics to enhance productivity, efficiency, and flexibility in manufacturing processes. Factors such as government initiatives promoting Industry 4.0, rising labour costs, and the need for improved operational efficiency are fueling the demand for smart factories. The Asia-Pacific region is becoming a hub for manufacturing industries, and the implementation of smart factories is expected to revolutionise traditional manufacturing and contribute significantly to economic growth and competitiveness in the region.



Key players in the market

Some of the key players in the Smart Factory Market include ABB Ltd., Emerson Electric Co., Rockwell Automation Inc, Siemens AG, Honeywell International Inc., Endress+Hauser AG, General Electric Company, Schneider Electric SE, Mitsubishi Electric Corp., Yokogawa Electric Corp., Johnson Controls International PLC, SAP SE, Cisco Systems Inc., Oracle Corporation, Kollmorgen, IBM Corporation, Microsoft Corporation, Fanuc Corporation, Robert Bosch GmbH and Cognex Corporation.

Key Developments:

In January 2022, Emerson Electric Co. (U.S.) launched its PACSystems Edge Solutions, a new portfolio of turnkey industrial edge hardware and software solutions. These solutions enable OEMs and end users to rapidly configure and implement advanced edge computing, visualization, and IIoT technology.

In March 2022, Emerson Electric Co. launched MT Connect, an industrial control platform driver for enabling easy integration of computer numerical control (CNC) machines with modern data analysis automation environment. This allows the collection of data from machines, robots, tools, and devices, which were previously inaccessible to be cumulatively analyzed in one platform. The new driver offers reduced downtime, improved efficiency, and increased productivity.

In October 2021, ABB Ltd. (Switzerland) launched its ABB Ability Genix Asset Performance Management Suite. The Genix Asset Performance Management Suite brings next-generation AI-based predictive maintenance, asset reliability, and integrity insights to process and utility industries.

Components Covered:
• Hardware
• Software
• Services
• Machine Vision System
• Control Devices
• Other Components

Connectivities Covered:
• Wired Connectivity
• Wireless Connectivity

Technologies Covered:
• Cloud Computing & Storage
• Augmented Reality/Virtual Reality (AR/VR)
• Artificial Intelligence
• Industrial Cybersecurity
• Digital Twin
• Blockchain
• Other Technologies

End Users Covered:
• Automotive
• Electrical & Electronics
• Energy & Utilities
• Aerospace & Defence
• Food & Beverages
• Healthcare & Pharmaceuticals
• Oil & Gas
• Chemicals
• Machine Manufacturing
• Medical Devices
• Garment & Textile
• Metal & Mining
• Pulp & Paper

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 Technology 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 Smart Factory Market, By Component
5.1 Introduction
5.2 Hardware
5.2.1 Sensors
5.2.1.1 Pressure Sensor
5.2.1.2 Decibel Sensor
5.2.1.3 Fire and Smoke Sensors
5.2.1.4 Vibration Sensor
5.2.1.5 Micro-Sensors
5.2.1.6 Motion Sensors
5.2.2 Machine Vision Systems
5.2.3 Industrial Robots
5.2.3.1 Cartesian
5.2.3.2 Selective Compliance Articulated Robot Arm (SCARA)
5.2.3.3 Articulated
5.2.3.4 Cylindrical
5.2.4 Industrial 3D Printing
5.3 Software
5.3.1 Human Machine Interface
5.3.2 Distributed Control System
5.3.3 Enterprise Resource Planning (ERP)
5.3.4 Product Life Cycle Management
5.3.5 Supervisory Control and Data Acquisition (SCADA)
5.3.6 Programmable automation controller (PAC)
5.3.7 Programmable logic controller (PLC)
5.4 Services
5.4.1 Managed Services
5.4.2 Professional Services
5.4.2.1 Integration & Deployment
5.4.2.2 Support & Maintenance
5.4.3 Consulting
5.4.3.1 Smart Factory Assessment Service
5.4.3.2 Continuous Process Improvement/Calibration Service
5.4.3.3 Infrastructure Management Service
5.5 Machine Vision System
5.5.1 Cameras
5.5.2 Processors
5.5.3 Optics & LED Lighting
5.5.4 Frame Grabbers
5.6 Control Devices
5.6.1 Relays and Switches
5.6.2 Control Valves
5.6.3 Motors & Drives
5.7 Other Components

6 Global Smart Factory Market, By Connectivity
6.1 Introduction
6.2 Wired Connectivity
6.2.1 Fieldbus
6.2.2 Ethernet
6.3 Wireless Connectivity
6.3.1 Wi-Fi
6.3.2 WirelessHART
6.3.3 Bluetooth

7 Global Smart Factory Market, By Technology
7.1 Introduction
7.2 Cloud Computing & Storage
7.3 Augmented Reality/Virtual Reality (AR/VR)
7.4 Artificial Intelligence
7.5 Industrial Cybersecurity
7.6 Digital Twin
7.7 Blockchain
7.8 Other Technologies

8 Global Smart Factory Market, By End User
8.1 Introduction
8.2 Automotive
8.3 Electrical & Electronics
8.4 Energy & Utilities
8.5 Aerospace & Defence
8.6 Food & Beverages
8.7 Healthcare & Pharmaceuticals
8.8 Oil & Gas
8.9 Chemicals
8.10 Machine Manufacturing
8.11 Medical Devices
8.12 Garment & Textile
8.13 Metal & Mining
8.14 Pulp & Paper

9 Global Smart Factory 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 ABB Ltd.
11.2 Emerson Electric Co.
11.3 Rockwell Automation Inc
11.4 Siemens AG
11.5 Honeywell International Inc.
11.6 Endress+Hauser AG
11.7 General Electric Company
11.8 Schneider Electric SE
11.9 Mitsubishi Electric Corp.
11.10 Yokogawa Electric Corp.
11.11 Johnson Controls International PLC
11.12 SAP SE
11.13 Cisco Systems Inc.
11.14 Oracle Corporation
11.15 Kollmorgen
11.16 IBM Corporation
11.17 Microsoft Corporation
11.18 Fanuc Corporation
11.19 Robert Bosch GmbH
11.20 Cognex Corporation

List of Tables
1 Global Smart Factory Market Outlook, By Region (2021-2030) ($MN)
2 Global Smart Factory Market Outlook, By Component (2021-2030) ($MN)
3 Global Smart Factory Market Outlook, By Hardware (2021-2030) ($MN)
4 Global Smart Factory Market Outlook, By Sensors (2021-2030) ($MN)
5 Global Smart Factory Market Outlook, By Machine Vision Systems (2021-2030) ($MN)
6 Global Smart Factory Market Outlook, By Industrial Robots (2021-2030) ($MN)
7 Global Smart Factory Market Outlook, By Industrial 3D Printing (2021-2030) ($MN)
8 Global Smart Factory Market Outlook, By Software (2021-2030) ($MN)
9 Global Smart Factory Market Outlook, By Human Machine Interface (2021-2030) ($MN)
10 Global Smart Factory Market Outlook, By Distributed Control System (2021-2030) ($MN)
11 Global Smart Factory Market Outlook, By Enterprise Resource Planning (ERP) (2021-2030) ($MN)
12 Global Smart Factory Market Outlook, By Product Life Cycle Management (2021-2030) ($MN)
13 Global Smart Factory Market Outlook, By Supervisory Control and Data Acquisition (SCADA) (2021-2030) ($MN)
14 Global Smart Factory Market Outlook, By Programmable automation controller (PAC) (2021-2030) ($MN)
15 Global Smart Factory Market Outlook, By Programmable logic controller (PLC) (2021-2030) ($MN)
16 Global Smart Factory Market Outlook, By Services (2021-2030) ($MN)
17 Global Smart Factory Market Outlook, By Managed Services (2021-2030) ($MN)
18 Global Smart Factory Market Outlook, By Professional Services (2021-2030) ($MN)
19 Global Smart Factory Market Outlook, By Consulting (2021-2030) ($MN)
20 Global Smart Factory Market Outlook, By Machine Vision System (2021-2030) ($MN)
21 Global Smart Factory Market Outlook, By Cameras (2021-2030) ($MN)
22 Global Smart Factory Market Outlook, By Processors (2021-2030) ($MN)
23 Global Smart Factory Market Outlook, By Optics & LED Lighting (2021-2030) ($MN)
24 Global Smart Factory Market Outlook, By Frame Grabbers (2021-2030) ($MN)
25 Global Smart Factory Market Outlook, By Control Devices (2021-2030) ($MN)
26 Global Smart Factory Market Outlook, By Relays and Switches (2021-2030) ($MN)
27 Global Smart Factory Market Outlook, By Control Valves (2021-2030) ($MN)
28 Global Smart Factory Market Outlook, By Motors & Drives (2021-2030) ($MN)
29 Global Smart Factory Market Outlook, By Other Components (2021-2030) ($MN)
30 Global Smart Factory Market Outlook, By Connectivity (2021-2030) ($MN)
31 Global Smart Factory Market Outlook, By Wired Connectivity (2021-2030) ($MN)
32 Global Smart Factory Market Outlook, By Fieldbus (2021-2030) ($MN)
33 Global Smart Factory Market Outlook, By Ethernet (2021-2030) ($MN)
34 Global Smart Factory Market Outlook, By Wireless Connectivity (2021-2030) ($MN)
35 Global Smart Factory Market Outlook, By Wi-Fi (2021-2030) ($MN)
36 Global Smart Factory Market Outlook, By WirelessHART (2021-2030) ($MN)
37 Global Smart Factory Market Outlook, By Bluetooth (2021-2030) ($MN)
38 Global Smart Factory Market Outlook, By Technology (2021-2030) ($MN)
39 Global Smart Factory Market Outlook, By Cloud Computing & Storage (2021-2030) ($MN)
40 Global Smart Factory Market Outlook, By Augmented Reality/Virtual Reality (AR/VR) (2021-2030) ($MN)
41 Global Smart Factory Market Outlook, By Artificial Intelligence (2021-2030) ($MN)
42 Global Smart Factory Market Outlook, By Industrial Cybersecurity (2021-2030) ($MN)
43 Global Smart Factory Market Outlook, By Digital Twin (2021-2030) ($MN)
44 Global Smart Factory Market Outlook, By Blockchain (2021-2030) ($MN)
45 Global Smart Factory Market Outlook, By Other Technologies (2021-2030) ($MN)
46 Global Smart Factory Market Outlook, By End User (2021-2030) ($MN)
47 Global Smart Factory Market Outlook, By Automotive (2021-2030) ($MN)
48 Global Smart Factory Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
49 Global Smart Factory Market Outlook, By Energy & Utilities (2021-2030) ($MN)
50 Global Smart Factory Market Outlook, By Aerospace & Defence (2021-2030) ($MN)
51 Global Smart Factory Market Outlook, By Food & Beverages (2021-2030) ($MN)
52 Global Smart Factory Market Outlook, By Healthcare & Pharmaceuticals (2021-2030) ($MN)
53 Global Smart Factory Market Outlook, By Oil & Gas (2021-2030) ($MN)
54 Global Smart Factory Market Outlook, By Chemicals (2021-2030) ($MN)
55 Global Smart Factory Market Outlook, By Machine Manufacturing (2021-2030) ($MN)
56 Global Smart Factory Market Outlook, By Medical Devices (2021-2030) ($MN)
57 Global Smart Factory Market Outlook, By Garment & Textile (2021-2030) ($MN)
58 Global Smart Factory Market Outlook, By Metal & Mining (2021-2030) ($MN)
59 Global Smart Factory Market Outlook, By Pulp & Paper (2021-2030) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

Figure 1 Global Smart Factory Market Outlook (2021-2030) ($MN)
Figure 2 North America Smart Factory Market Outlook (2021-2030) ($MN)
Figure 3 US Smart Factory Market Outlook (2021-2030) ($MN)
Figure 4 Canada Smart Factory Market Outlook (2021-2030) ($MN)
Figure 5 Mexico Smart Factory Market Outlook (2021-2030) ($MN)
Figure 6 Europe Smart Factory Market Outlook (2021-2030) ($MN)
Figure 7 Germany Smart Factory Market Outlook (2021-2030) ($MN)
Figure 8 UK Smart Factory Market Outlook (2021-2030) ($MN)
Figure 9 Italy Smart Factory Market Outlook (2021-2030) ($MN)
Figure 10 France Smart Factory Market Outlook (2021-2030) ($MN)
Figure 11 Spain Smart Factory Market Outlook (2021-2030) ($MN)
Figure 12 Rest of Europe Smart Factory Market Outlook (2021-2030) ($MN)
Figure 13 Asia Pacific Smart Factory Market Outlook (2021-2030) ($MN)
Figure 14 Japan Smart Factory Market Outlook (2021-2030) ($MN)
Figure 15 China Smart Factory Market Outlook (2021-2030) ($MN)
Figure 16 India Smart Factory Market Outlook (2021-2030) ($MN)
Figure 17 Australia Smart Factory Market Outlook (2021-2030) ($MN)
Figure 18 New Zealand Smart Factory Market Outlook (2021-2030) ($MN)
Figure 19 South Korea Smart Factory Market Outlook (2021-2030) ($MN)
Figure 20 Rest of Asia Pacific Smart Factory Market Outlook (2021-2030) ($MN)
Figure 21 South America Smart Factory Market Outlook (2021-2030) ($MN)
Figure 22 Argentina Smart Factory Market Outlook (2021-2030) ($MN)
Figure 23 Brazil Smart Factory Market Outlook (2021-2030) ($MN)
Figure 24 Chile Smart Factory Market Outlook (2021-2030) ($MN)
Figure 25 Rest of South America Smart Factory Market Outlook (2021-2030) ($MN)
Figure 26 Middle East & Africa Smart Factory Market Outlook (2021-2030) ($MN)
Figure 27 Saudi Arabia Smart Factory Market Outlook (2021-2030) ($MN)
Figure 28 UAE Smart Factory Market Outlook (2021-2030) ($MN)
Figure 29 Qatar Smart Factory Market Outlook (2021-2030) ($MN)
Figure 30 South Africa Smart Factory Market Outlook (2021-2030) ($MN)
Figure 31 Rest of Middle East & Africa Smart Factory Market Outlook (2021-2030) ($MN)

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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