Soil Fertility Testing Market
Soil Fertility Testing Market Forecasts to 2028 - Global Analysis By Test Type (Physical Testing, Chemical Testing and Biological Testing), Method (Onsite and Offsite), Application (Aeration in Soil, Chemical Fertility of Soil, Drainage in Soil and Structure of Soil) and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $5,015.66 MN |
|
Projected Year Value (2028) |
US $7,155.18 MN |
|
CAGR (2022 - 2028) |
6.1% |
|
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 Soil Fertility Testing Market is accounted for $5,015.66 million in 2022 and is expected to reach $7,155.18 million by 2028 growing at a CAGR of 6.1% during the forecast period. Testing the fertility of the soil can help identify its growth potential by highlighting nutrient deficiencies, the toxic effects of overfertilization, and trace mineral inhibitors. In the last few years, soil fertility testing has gained widespread acceptance in the agricultural industry as a means of increasing field yields and revenues. Without soil testing, it is very challenging to guarantee the proper application of fertilizers for the crop and obtain the best yield. Since the land on which we grow crops can become depleted with repeated use, soil sampling can also benefit the environment.
According to a report published by United Nations in 2018, 20% of the earth is not producing food as before. This problem is affecting 5% of European land as well as another 10% of land is under severe stress. Therefore, various regulations and policies have been formed in the EU for soil protection as well as for soil quality improvement.
Market Dynamics:
Driver:
Strict government regulations regarding crop nutrient content to promote growth
Good farming starts with soil fertility testing. Everywhere has a different type of soil. Farms' soil composition may even differ from that of their neighboring ones due to factors like the crops they grow and the fertilizers they use. Therefore, it is essential to test the soil before planting. This will give a general idea of the pH and nutrient makeup of the soil. The most crucial procedure for controlling crop production and fertilizer application is soil testing. It is very difficult to guarantee the correct application of fertilizers for the crop and obtain the best yield without soil testing. The environment can also benefit from soil sampling because the land where we grow our crops can become degraded with repeated use. With rising demand for agricultural products, increased production, and the requirement for recurring soil testing, the market for soil fertility testing is anticipated to experience a robust recovery.
Restraint:
Time-consuming and repeated tests
The majority of the time, the labs where samples must be tested are not close to the location where samples must be collected. The entire process is tedious and time-consuming because after the laboratory soil tests are completed, experts analyze the findings and recommend actions to be taken to address any deficiencies. Periodically, this exercise needs to be done again. These elements may limit the market expansion for soil fertility testing worldwide.
Opportunity:
Rising need for sample testing
In countries with commercialized agriculture, sample testing has grown in popularity as a means of sustaining the expansion of agricultural commodity exports. A global organization with the goal of creating and disseminating standardized seed testing procedures is the International Seed Testing Association (ISTA). It is now recognized in many nations as a crucial tool for coordinating seed testing and contemporary seed trade trends. The market potential for agricultural testing products has grown as a result of the growing need to address various problems and challenges in the agricultural supply chain and food safety. To increase crop production, a number of developing nations, including China and India, are investing in the agricultural sector. This will increase the demand for soil fertility testing services.
Threat:
Difficulty of obtaining methods suited to varied soil types
The difficulty of finding methods appropriate for various soil types, issues with sampling because of soil variation across a field, and challenges estimating the likely effects of environmental conditions in the upcoming season are some drawbacks of soil analyses. Such elements may limit the market expansion for soil fertility testing globally.
Covid-19 Impact
The COVID-19 outbreak has caused market disruption in soil fertility testing due to, among other things, a decrease in labor availability, a slowdown in agricultural activity, unstable supply chains, restrictions on trade movements, and others. The sudden closure of national and international borders has distorted operational efficiencies and disrupted value chains as a result of the outbreak. The demand for soil fertility testing is anticipated to increase globally in the upcoming months, though, as economies prepare to restart their operations. A rise in COVID-19 cases has also increased the demand for nutrient-rich and immunity-boosting food products, as well as for healthy food crops, fruits, and vegetables, which will help the soil fertility testing market to expand.
The Chemical testing segment is expected to be the largest during the forecast period
The chemical testing segment held the largest market share in 2020 and is expected to hold the largest share over the forecast period. As a monitoring tool, chemical soil tests have become popular for preventing overnutrient input into farming systems. pH meters, equipment for measuring salinity, test kits, and reagents are all included in the chemical testing. The chemical soil test also reveals other physical characteristics and the concentration of essential plant nutrients like phosphorus, nitrogen, potassium, humus content, available lime, organic matter, sulphur, and trace elements. Based on the nutrient content of the soil for a particular yield, it is simpler to determine the amount of fertilizer required to achieve high and quality yields with the aid of a chemical test. Such factors are driving the segments growth.
The Offsite segment is expected to have the highest CAGR during the forecast period
The offline segment is anticipated to grow at a significant rate as a whole during the projection period. The segment's growth is further fueled by laboratory methods for soil fertility testing, which provide knowledge about the condition and management of soil, the need to manage soil fertility to reduce fertilizer spending, and strategies for avoiding over-fertilization and preventing soil deterioration.
Region with highest share:
Over the forecast period, Europe is anticipated to dominate the soil fertility testing market. Market expansion in the region is attributed to the existence of strict food safety, environmental, and agricultural regulations as well as the application of laws pertaining to nutritional content, chemicals, and labeling. Additionally, the region's market is expanding due to the increased availability of arable land and the proliferation of companies offering soil fertility testing services. Furthermore, the market is expanding due to the increasing focus on generating higher yields from the land that is currently available.
Region with highest CAGR:
During the forecast period, the Asia Pacific region is anticipated to expand significantly. The major factors driving the Asia Pacific soil fertility testing market are the growing incidence of food-borne diseases, emerging technologies to improve soil fertility, and strict government regulations regarding crop nutrient content. Asia Pacific businesses are focusing on organic growth strategies like product launches and expansions to keep their positions in the competitive market. By providing soil, irrigation water, and plant tissue testing as well as fertilizer recommendation services for the Chinese market, SGS SA, for instance, continued to strengthen its abilities for global expansion.
Key players in the market
Some of the key players profiled in the Soil Fertility Testing Market include A & L Great Lakes, AgroCares Technology, Actlabs, Agrolab GMBH, ALS Limited, BUREAU VERITAS, Crop Nutrition Laboratory Services Ltd., Duraroot, Eurofins Scientific, Kinsey Ag Services, Polytest Laboratories, Waters Agricultural Laboratories, Inc. and SGS SA.
Key Developments:
In October 2022, AgroCares partners with DigiFarm in Kenya. AgroCares and DigiFarm have committed to work together to help smallholder farmers test their soils in Kenya. A pilot project lead by DigiFarm brings AgroCares technology to selected pilot counties in Eastern, Rift and the greater western regions of Kenya. It will create awareness and demand for soil testing and enable Kenyan farmers to benefit from the Scanner and know their soil status instantly. This service will be available on the DigiFarm platform shortly.
In June 2022, the inauguration of the brand new laboratory building of AGROLAB Ibérica in Burgos took place. The large laboratory site has one of the most extensive analytical offerings in Spain. In addition to the typical analytical parameters, the complete range of residue analysis can now also be offered. In addition, the new testing institute is one of the few Spanish laboratories that has GMP+ accreditation and carries out all tests in-house.
Test Types Covered:
• Physical Testing
• Chemical Testing
• Biological Testing
Methods Covered:
• Onsite
• Offsite
Applications Covered:
• Aeration in Soil
• Chemical Fertility of Soil
• Drainage in Soil
• Structure of Soil
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
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 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 Soil Fertility Testing Market, By Test Type
5.1 Introduction
5.2 Physical Testing
5.3 Chemical Testing
5.4 Biological Testing
6 Global Soil Fertility Testing Market, By Method
6.1 Introduction
6.2 Onsite
6.3 Offsite
6.3.1 Fumigation
6.3.2 Microscopy
6.3.3 Molecular Method
6.3.4 Organic Matter Levels
6.3.5 Organism Activities
7 Global Soil Fertility Testing Market, By Application
7.1 Introduction
7.2 Aeration in Soil
7.3 Chemical Fertility of Soil
7.4 Drainage in Soil
7.5 Structure of Soil
8 Global Soil Fertility Testing 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 A & L Great Lakes
10.2 AgroCares Technology
10.3 Actlabs
10.4 Agrolab GMBH
10.5 ALS Limited
10.6 BUREAU VERITAS
10.7 Crop Nutrition Laboratory Services Ltd.
10.8 Duraroot
10.9 Eurofins Scientific
10.10 Kinsey Ag Services
10.11 Polytest Laboratories
10.12 Waters Agricultural Laboratories, Inc.
10.13 SGS SA
List of Tables
1 Global Soil Fertility Testing Market Outlook, By Region (2020-2028) ($MN)
2 Global Soil Fertility Testing Market Outlook, By Test Type (2020-2028) ($MN)
3 Global Soil Fertility Testing Market Outlook, By Physical Testing (2020-2028) ($MN)
4 Global Soil Fertility Testing Market Outlook, By Chemical Testing (2020-2028) ($MN)
5 Global Soil Fertility Testing Market Outlook, By Biological Testing (2020-2028) ($MN)
6 Global Soil Fertility Testing Market Outlook, By Method (2020-2028) ($MN)
7 Global Soil Fertility Testing Market Outlook, By Onsite (2020-2028) ($MN)
8 Global Soil Fertility Testing Market Outlook, By Offsite (2020-2028) ($MN)
9 Global Soil Fertility Testing Market Outlook, By Fumigation (2020-2028) ($MN)
10 Global Soil Fertility Testing Market Outlook, By Microscopy (2020-2028) ($MN)
11 Global Soil Fertility Testing Market Outlook, By Molecular Method (2020-2028) ($MN)
12 Global Soil Fertility Testing Market Outlook, By Organic Matter Levels (2020-2028) ($MN)
13 Global Soil Fertility Testing Market Outlook, By Organism Activities (2020-2028) ($MN)
14 Global Soil Fertility Testing Market Outlook, By Application (2020-2028) ($MN)
15 Global Soil Fertility Testing Market Outlook, By Aeration in Soil (2020-2028) ($MN)
16 Global Soil Fertility Testing Market Outlook, By Chemical Fertility of Soil (2020-2028) ($MN)
17 Global Soil Fertility Testing Market Outlook, By Drainage in Soil (2020-2028) ($MN)
18 Global Soil Fertility Testing Market Outlook, By Structure of Soil (2020-2028) ($MN)
19 North America Soil Fertility Testing Market Outlook, By Country (2020-2028) ($MN)
20 North America Soil Fertility Testing Market Outlook, By Test Type (2020-2028) ($MN)
21 North America Soil Fertility Testing Market Outlook, By Physical Testing (2020-2028) ($MN)
22 North America Soil Fertility Testing Market Outlook, By Chemical Testing (2020-2028) ($MN)
23 North America Soil Fertility Testing Market Outlook, By Biological Testing (2020-2028) ($MN)
24 North America Soil Fertility Testing Market Outlook, By Method (2020-2028) ($MN)
25 North America Soil Fertility Testing Market Outlook, By Onsite (2020-2028) ($MN)
26 North America Soil Fertility Testing Market Outlook, By Offsite (2020-2028) ($MN)
27 North America Soil Fertility Testing Market Outlook, By Fumigation (2020-2028) ($MN)
28 North America Soil Fertility Testing Market Outlook, By Microscopy (2020-2028) ($MN)
29 North America Soil Fertility Testing Market Outlook, By Molecular Method (2020-2028) ($MN)
30 North America Soil Fertility Testing Market Outlook, By Organic Matter Levels (2020-2028) ($MN)
31 North America Soil Fertility Testing Market Outlook, By Organism Activities (2020-2028) ($MN)
32 North America Soil Fertility Testing Market Outlook, By Application (2020-2028) ($MN)
33 North America Soil Fertility Testing Market Outlook, By Aeration in Soil (2020-2028) ($MN)
34 North America Soil Fertility Testing Market Outlook, By Chemical Fertility of Soil (2020-2028) ($MN)
35 North America Soil Fertility Testing Market Outlook, By Drainage in Soil (2020-2028) ($MN)
36 North America Soil Fertility Testing Market Outlook, By Structure of Soil (2020-2028) ($MN)
37 Europe Soil Fertility Testing Market Outlook, By Country (2020-2028) ($MN)
38 Europe Soil Fertility Testing Market Outlook, By Test Type (2020-2028) ($MN)
39 Europe Soil Fertility Testing Market Outlook, By Physical Testing (2020-2028) ($MN)
40 Europe Soil Fertility Testing Market Outlook, By Chemical Testing (2020-2028) ($MN)
41 Europe Soil Fertility Testing Market Outlook, By Biological Testing (2020-2028) ($MN)
42 Europe Soil Fertility Testing Market Outlook, By Method (2020-2028) ($MN)
43 Europe Soil Fertility Testing Market Outlook, By Onsite (2020-2028) ($MN)
44 Europe Soil Fertility Testing Market Outlook, By Offsite (2020-2028) ($MN)
45 Europe Soil Fertility Testing Market Outlook, By Fumigation (2020-2028) ($MN)
46 Europe Soil Fertility Testing Market Outlook, By Microscopy (2020-2028) ($MN)
47 Europe Soil Fertility Testing Market Outlook, By Molecular Method (2020-2028) ($MN)
48 Europe Soil Fertility Testing Market Outlook, By Organic Matter Levels (2020-2028) ($MN)
49 Europe Soil Fertility Testing Market Outlook, By Organism Activities (2020-2028) ($MN)
50 Europe Soil Fertility Testing Market Outlook, By Application (2020-2028) ($MN)
51 Europe Soil Fertility Testing Market Outlook, By Aeration in Soil (2020-2028) ($MN)
52 Europe Soil Fertility Testing Market Outlook, By Chemical Fertility of Soil (2020-2028) ($MN)
53 Europe Soil Fertility Testing Market Outlook, By Drainage in Soil (2020-2028) ($MN)
54 Europe Soil Fertility Testing Market Outlook, By Structure of Soil (2020-2028) ($MN)
55 Asia Pacific Soil Fertility Testing Market Outlook, By Country (2020-2028) ($MN)
56 Asia Pacific Soil Fertility Testing Market Outlook, By Test Type (2020-2028) ($MN)
57 Asia Pacific Soil Fertility Testing Market Outlook, By Physical Testing (2020-2028) ($MN)
58 Asia Pacific Soil Fertility Testing Market Outlook, By Chemical Testing (2020-2028) ($MN)
59 Asia Pacific Soil Fertility Testing Market Outlook, By Biological Testing (2020-2028) ($MN)
60 Asia Pacific Soil Fertility Testing Market Outlook, By Method (2020-2028) ($MN)
61 Asia Pacific Soil Fertility Testing Market Outlook, By Onsite (2020-2028) ($MN)
62 Asia Pacific Soil Fertility Testing Market Outlook, By Offsite (2020-2028) ($MN)
63 Asia Pacific Soil Fertility Testing Market Outlook, By Fumigation (2020-2028) ($MN)
64 Asia Pacific Soil Fertility Testing Market Outlook, By Microscopy (2020-2028) ($MN)
65 Asia Pacific Soil Fertility Testing Market Outlook, By Molecular Method (2020-2028) ($MN)
66 Asia Pacific Soil Fertility Testing Market Outlook, By Organic Matter Levels (2020-2028) ($MN)
67 Asia Pacific Soil Fertility Testing Market Outlook, By Organism Activities (2020-2028) ($MN)
68 Asia Pacific Soil Fertility Testing Market Outlook, By Application (2020-2028) ($MN)
69 Asia Pacific Soil Fertility Testing Market Outlook, By Aeration in Soil (2020-2028) ($MN)
70 Asia Pacific Soil Fertility Testing Market Outlook, By Chemical Fertility of Soil (2020-2028) ($MN)
71 Asia Pacific Soil Fertility Testing Market Outlook, By Drainage in Soil (2020-2028) ($MN)
72 Asia Pacific Soil Fertility Testing Market Outlook, By Structure of Soil (2020-2028) ($MN)
73 South America Soil Fertility Testing Market Outlook, By Country (2020-2028) ($MN)
74 South America Soil Fertility Testing Market Outlook, By Test Type (2020-2028) ($MN)
75 South America Soil Fertility Testing Market Outlook, By Physical Testing (2020-2028) ($MN)
76 South America Soil Fertility Testing Market Outlook, By Chemical Testing (2020-2028) ($MN)
77 South America Soil Fertility Testing Market Outlook, By Biological Testing (2020-2028) ($MN)
78 South America Soil Fertility Testing Market Outlook, By Method (2020-2028) ($MN)
79 South America Soil Fertility Testing Market Outlook, By Onsite (2020-2028) ($MN)
80 South America Soil Fertility Testing Market Outlook, By Offsite (2020-2028) ($MN)
81 South America Soil Fertility Testing Market Outlook, By Fumigation (2020-2028) ($MN)
82 South America Soil Fertility Testing Market Outlook, By Microscopy (2020-2028) ($MN)
83 South America Soil Fertility Testing Market Outlook, By Molecular Method (2020-2028) ($MN)
84 South America Soil Fertility Testing Market Outlook, By Organic Matter Levels (2020-2028) ($MN)
85 South America Soil Fertility Testing Market Outlook, By Organism Activities (2020-2028) ($MN)
86 South America Soil Fertility Testing Market Outlook, By Application (2020-2028) ($MN)
87 South America Soil Fertility Testing Market Outlook, By Aeration in Soil (2020-2028) ($MN)
88 South America Soil Fertility Testing Market Outlook, By Chemical Fertility of Soil (2020-2028) ($MN)
89 South America Soil Fertility Testing Market Outlook, By Drainage in Soil (2020-2028) ($MN)
90 South America Soil Fertility Testing Market Outlook, By Structure of Soil (2020-2028) ($MN)
91 Middle East & Africa Soil Fertility Testing Market Outlook, By Country (2020-2028) ($MN)
92 Middle East & Africa Soil Fertility Testing Market Outlook, By Test Type (2020-2028) ($MN)
93 Middle East & Africa Soil Fertility Testing Market Outlook, By Physical Testing (2020-2028) ($MN)
94 Middle East & Africa Soil Fertility Testing Market Outlook, By Chemical Testing (2020-2028) ($MN)
95 Middle East & Africa Soil Fertility Testing Market Outlook, By Biological Testing (2020-2028) ($MN)
96 Middle East & Africa Soil Fertility Testing Market Outlook, By Method (2020-2028) ($MN)
97 Middle East & Africa Soil Fertility Testing Market Outlook, By Onsite (2020-2028) ($MN)
98 Middle East & Africa Soil Fertility Testing Market Outlook, By Offsite (2020-2028) ($MN)
99 Middle East & Africa Soil Fertility Testing Market Outlook, By Fumigation (2020-2028) ($MN)
100 Middle East & Africa Soil Fertility Testing Market Outlook, By Microscopy (2020-2028) ($MN)
101 Middle East & Africa Soil Fertility Testing Market Outlook, By Molecular Method (2020-2028) ($MN)
102 Middle East & Africa Soil Fertility Testing Market Outlook, By Organic Matter Levels (2020-2028) ($MN)
103 Middle East & Africa Soil Fertility Testing Market Outlook, By Organism Activities (2020-2028) ($MN)
104 Middle East & Africa Soil Fertility Testing Market Outlook, By Application (2020-2028) ($MN)
105 Middle East & Africa Soil Fertility Testing Market Outlook, By Aeration in Soil (2020-2028) ($MN)
106 Middle East & Africa Soil Fertility Testing Market Outlook, By Chemical Fertility of Soil (2020-2028) ($MN)
107 Middle East & Africa Soil Fertility Testing Market Outlook, By Drainage in Soil (2020-2028) ($MN)
108 Middle East & Africa Soil Fertility Testing Market Outlook, By Structure of Soil (2020-2028) ($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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