Solar Cable Market
Solar Cable Market Forecasts to 2030 - Global Analysis By Material Type (Aluminum, Copper and Other Material Types), Voltage Type (High Voltage Cable, Medium Voltage Cable and Low Voltage Cable), Cable Type, Application, End User and By Geography
According to Stratistics MRC, the Global Solar Cable Market is accounted for $2.15 billion in 2023 and is expected to reach $4.46 billion by 2030 growing at a CAGR of 11% during the forecast period. Solar cables are specialized electrical cables designed for use in photovoltaic (PV) systems to connect solar panels, inverters, and other components within solar power installations. Typically insulated with materials resistant to UV radiation and weathering, solar cables ensure safe and efficient transmission of direct current (DC) electricity generated by solar panels to inverters or charge controllers, facilitating the integration of solar energy into electrical grids or off-grid systems.
According to Department for Promotion of Industry and Internal Trade (DPIIT), more than USD 42 billion has been invested in India’s renewable energy sector since 2014 and new investment in clean energy in the country reached USD 11.1 billion in the year 2018.
Market Dynamics:
Driver:
Rising solar installations
The growing adoption of solar energy as a renewable power source is a major driver for the solar cable market. The growing awareness of environmental issues and the need to reduce carbon emissions have propelled the demand for solar energy. Solar power is considered a clean and sustainable alternative to fossil fuels, making it an attractive option for individuals, businesses, and governments aiming to reduce their carbon footprint. As a result, the installation of solar panels has been on the rise, leading to an increased demand for solar cables.
Restraint:
High initial investment costs
Establishing a solar energy installation requires substantial upfront capital expenditure for purchasing solar panels, inverters, mounting structures, and associated components like solar cables. However, these costs can be particularly prohibitive for residential, commercial, and industrial entities with limited financial resources or stringent budget constraints. Therefore, high initial investment costs are an element limiting market expansion.
Opportunity:
Advancements in solar technology
As solar power systems evolve and improve the demand for high-quality and efficient solar cables increases. Higher-efficiency panels can convert a greater amount of sunlight into electricity, resulting in increased power output. Furthermore, advancements in energy storage technology, such as lithium-ion batteries, have become an integral part of solar power systems. Energy storage enables the storage of excess solar energy generated during the day for use during periods of low sunlight or high demand. Therefore, advancement in solar technology is a significant factor propelling market demand.
Threat:
Competition from alternative energy sources
The solar cable market faces competition from alternative energy sources, which poses a threat to its growth and market share. Wind turbines generate electricity by harnessing the power of wind, and wind farms have been established in many regions worldwide. Additionally, another alternative energy source competing with solar energy is hydropower. Hydropower plants generate electricity by utilizing the energy from flowing or falling water. In regions with abundant water resources, hydropower projects may be favored over solar installations, leading to reduced demand for solar cables.
Covid-19 Impact
The COVID-19 pandemic had a multifaceted impact on the solar cable market. Initially, lockdown measures and disruptions in supply chains led to delays in project timelines and installations, causing a temporary slowdown in demand for solar cables. Moreover, the economic downturn resulting from the pandemic prompted budget constraints and financing challenges for solar projects, particularly in sectors heavily affected by the crisis, such as commercial and industrial segments. This reduced investment appetite and caused project cancellations or postponements, affecting the demand for solar cables during the pandemic.
The stranded segment is expected to be the largest during the forecast period
The stranded segment is estimated to hold the largest share. The stranding of the wires allows for flexibility and durability, making it suitable for outdoor installations where the cable may be subjected to bending, twisting, or other forms of mechanical stress. Additionally, the increased surface area provided by the stranding allows for efficient conduction of electricity, minimizing power losses and maximizing the overall efficiency of the PV system.
The solar panel wiring segment is expected to have the highest CAGR during the forecast period
The solar panel wiring segment is anticipated to have lucrative growth during the forecast period. These cables are engineered to have excellent insulation properties, ensuring the safe and efficient transmission of electrical energy while protecting against potential hazards such as moisture, UV radiation, and temperature fluctuations. Overall, solar panel wiring plays a critical role in the reliability, efficiency, and safety of solar power systems, making it an essential component within the broader solar cable market.
Region with largest share:
Asia Pacific commanded the largest market share during the extrapolated period. Rapid industrialization, urbanization, and increasing investments in renewable energy infrastructure are fueling the demand for solar cables in countries like China, India, Japan, and Australia. China, being one of the largest consumers and manufacturers of solar energy components, contributes substantially to market growth in the region. Moreover, the government's supportive policies and initiatives towards clean energy adoption further propel the demand for solar cables in the country.
Region with highest CAGR:
North America is expected to witness profitable growth over the projection period. Favorable government policies and incentives aimed at promoting renewable energy adoption, such as tax credits and rebates, have stimulated the demand for solar cables in residential, commercial, and utility-scale solar projects. Additionally, technological advancements and innovations in solar cable design and manufacturing have improved efficiency, reliability, and safety standards. This has led to increased confidence in solar energy systems, further driving market demand.
Key players in the market
Some of the key players in the Solar Cable Market include Belden Inc., Havells, Kabelwerk Eupen AG., Allied Wire & Cable, Hellenic Group, Furukawa Electric Co. Ltd., ABB, Leoni Cables, Lapp Group, Leoni AG, Nexans SA, Polycab, Prysmian Group, LS Cable and System, Northwire Inc., Southwire Company LLC and TE Connectivity Ltd.
Key Developments:
In June 2023, Leoni AG has strengthened its cooperation with ProCab for the supply of cables to the automotive industry. This is due to the fact that companies can combine their resources, experience and knowledge to create better and more innovative products.
In April 2023, Havells India entered into a commercial agreement with Swedish tech start-up, Blixt Tech AB, to introduce Solid State Circuit Breaker (SSCB) technology in the domestic market.
In April 2023, Havells has partnered with Swedish tech startup Blixt Tech AB to bring Solid State Circuit Breaker (SSCB) technology to the Indian market. This move demonstrates Havells’ commitment to innovative and future-ready solutions and strengthens its position in the switchgear segment, according to a joint statement.
Material Types Covered:
• Aluminum
• Copper
• Other Material Types
Voltage Types Covered:
• High Voltage Cable
• Medium Voltage Cable
• Low Voltage Cable
Cable Types Covered:
• Stranded
• Solid
Applications Covered:
• Underground Service Entrances
• Solar Panel Wiring
• Service Terminal Connections
• Other Applications
End Users Covered:
• Commercial
• Residential
• Industrial
• 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 Application 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 Solar Cable Market, By Material Type
5.1 Introduction
5.2 Aluminum
5.3 Copper
5.4 Other Material Types
6 Global Solar Cable Market, By Voltage Type
6.1 Introduction
6.2 High Voltage Cable
6.3 Medium Voltage Cable
6.4 Low Voltage Cable
7 Global Solar Cable Market, By Cable Type
7.1 Introduction
7.2 Stranded
7.3 Solid
8 Global Solar Cable Market, By Application
8.1 Introduction
8.2 Underground Service Entrances
8.3 Solar Panel Wiring
8.4 Service Terminal Connections
8.5 Other Applications
9 Global Solar Cable Market, By End User
9.1 Introduction
9.2 Commercial
9.3 Residential
9.4 Industrial
9.5 Other End Users
10 Global Solar Cable Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Belden Inc.
12.2 Havells
12.3 Kabelwerk Eupen AG.
12.4 Allied Wire & Cable
12.5 Hellenic Group
12.6 Furukawa Electric Co. Ltd.
12.7 ABB
12.8 Leoni Cables
12.9 Lapp Group
12.10 Leoni AG
12.11 Nexans SA
12.12 Polycab
12.13 Prysmian Group
12.14 LS Cable and System
12.15 Northwire Inc.
12.16 Southwire Company LLC
12.17 TE Connectivity Ltd.
List of Tables
1 Global Solar Cable Market Outlook, By Region (2021-2030) ($MN)
2 Global Solar Cable Market Outlook, By Material Type (2021-2030) ($MN)
3 Global Solar Cable Market Outlook, By Aluminum (2021-2030) ($MN)
4 Global Solar Cable Market Outlook, By Copper (2021-2030) ($MN)
5 Global Solar Cable Market Outlook, By Other Material Types (2021-2030) ($MN)
6 Global Solar Cable Market Outlook, By Voltage Type (2021-2030) ($MN)
7 Global Solar Cable Market Outlook, By High Voltage Cable (2021-2030) ($MN)
8 Global Solar Cable Market Outlook, By Medium Voltage Cable (2021-2030) ($MN)
9 Global Solar Cable Market Outlook, By Low Voltage Cable (2021-2030) ($MN)
10 Global Solar Cable Market Outlook, By Cable Type (2021-2030) ($MN)
11 Global Solar Cable Market Outlook, By Stranded (2021-2030) ($MN)
12 Global Solar Cable Market Outlook, By Solid (2021-2030) ($MN)
13 Global Solar Cable Market Outlook, By Application (2021-2030) ($MN)
14 Global Solar Cable Market Outlook, By Underground Service Entrances (2021-2030) ($MN)
15 Global Solar Cable Market Outlook, By Solar Panel Wiring (2021-2030) ($MN)
16 Global Solar Cable Market Outlook, By Service Terminal Connections (2021-2030) ($MN)
17 Global Solar Cable Market Outlook, By Other Applications (2021-2030) ($MN)
18 Global Solar Cable Market Outlook, By End User (2021-2030) ($MN)
19 Global Solar Cable Market Outlook, By Commercial (2021-2030) ($MN)
20 Global Solar Cable Market Outlook, By Residential (2021-2030) ($MN)
21 Global Solar Cable Market Outlook, By Industrial (2021-2030) ($MN)
22 Global Solar Cable Market Outlook, By Other End Users (2021-2030) ($MN)
23 North America Solar Cable Market Outlook, By Country (2021-2030) ($MN)
24 North America Solar Cable Market Outlook, By Material Type (2021-2030) ($MN)
25 North America Solar Cable Market Outlook, By Aluminum (2021-2030) ($MN)
26 North America Solar Cable Market Outlook, By Copper (2021-2030) ($MN)
27 North America Solar Cable Market Outlook, By Other Material Types (2021-2030) ($MN)
28 North America Solar Cable Market Outlook, By Voltage Type (2021-2030) ($MN)
29 North America Solar Cable Market Outlook, By High Voltage Cable (2021-2030) ($MN)
30 North America Solar Cable Market Outlook, By Medium Voltage Cable (2021-2030) ($MN)
31 North America Solar Cable Market Outlook, By Low Voltage Cable (2021-2030) ($MN)
32 North America Solar Cable Market Outlook, By Cable Type (2021-2030) ($MN)
33 North America Solar Cable Market Outlook, By Stranded (2021-2030) ($MN)
34 North America Solar Cable Market Outlook, By Solid (2021-2030) ($MN)
35 North America Solar Cable Market Outlook, By Application (2021-2030) ($MN)
36 North America Solar Cable Market Outlook, By Underground Service Entrances (2021-2030) ($MN)
37 North America Solar Cable Market Outlook, By Solar Panel Wiring (2021-2030) ($MN)
38 North America Solar Cable Market Outlook, By Service Terminal Connections (2021-2030) ($MN)
39 North America Solar Cable Market Outlook, By Other Applications (2021-2030) ($MN)
40 North America Solar Cable Market Outlook, By End User (2021-2030) ($MN)
41 North America Solar Cable Market Outlook, By Commercial (2021-2030) ($MN)
42 North America Solar Cable Market Outlook, By Residential (2021-2030) ($MN)
43 North America Solar Cable Market Outlook, By Industrial (2021-2030) ($MN)
44 North America Solar Cable Market Outlook, By Other End Users (2021-2030) ($MN)
45 Europe Solar Cable Market Outlook, By Country (2021-2030) ($MN)
46 Europe Solar Cable Market Outlook, By Material Type (2021-2030) ($MN)
47 Europe Solar Cable Market Outlook, By Aluminum (2021-2030) ($MN)
48 Europe Solar Cable Market Outlook, By Copper (2021-2030) ($MN)
49 Europe Solar Cable Market Outlook, By Other Material Types (2021-2030) ($MN)
50 Europe Solar Cable Market Outlook, By Voltage Type (2021-2030) ($MN)
51 Europe Solar Cable Market Outlook, By High Voltage Cable (2021-2030) ($MN)
52 Europe Solar Cable Market Outlook, By Medium Voltage Cable (2021-2030) ($MN)
53 Europe Solar Cable Market Outlook, By Low Voltage Cable (2021-2030) ($MN)
54 Europe Solar Cable Market Outlook, By Cable Type (2021-2030) ($MN)
55 Europe Solar Cable Market Outlook, By Stranded (2021-2030) ($MN)
56 Europe Solar Cable Market Outlook, By Solid (2021-2030) ($MN)
57 Europe Solar Cable Market Outlook, By Application (2021-2030) ($MN)
58 Europe Solar Cable Market Outlook, By Underground Service Entrances (2021-2030) ($MN)
59 Europe Solar Cable Market Outlook, By Solar Panel Wiring (2021-2030) ($MN)
60 Europe Solar Cable Market Outlook, By Service Terminal Connections (2021-2030) ($MN)
61 Europe Solar Cable Market Outlook, By Other Applications (2021-2030) ($MN)
62 Europe Solar Cable Market Outlook, By End User (2021-2030) ($MN)
63 Europe Solar Cable Market Outlook, By Commercial (2021-2030) ($MN)
64 Europe Solar Cable Market Outlook, By Residential (2021-2030) ($MN)
65 Europe Solar Cable Market Outlook, By Industrial (2021-2030) ($MN)
66 Europe Solar Cable Market Outlook, By Other End Users (2021-2030) ($MN)
67 Asia Pacific Solar Cable Market Outlook, By Country (2021-2030) ($MN)
68 Asia Pacific Solar Cable Market Outlook, By Material Type (2021-2030) ($MN)
69 Asia Pacific Solar Cable Market Outlook, By Aluminum (2021-2030) ($MN)
70 Asia Pacific Solar Cable Market Outlook, By Copper (2021-2030) ($MN)
71 Asia Pacific Solar Cable Market Outlook, By Other Material Types (2021-2030) ($MN)
72 Asia Pacific Solar Cable Market Outlook, By Voltage Type (2021-2030) ($MN)
73 Asia Pacific Solar Cable Market Outlook, By High Voltage Cable (2021-2030) ($MN)
74 Asia Pacific Solar Cable Market Outlook, By Medium Voltage Cable (2021-2030) ($MN)
75 Asia Pacific Solar Cable Market Outlook, By Low Voltage Cable (2021-2030) ($MN)
76 Asia Pacific Solar Cable Market Outlook, By Cable Type (2021-2030) ($MN)
77 Asia Pacific Solar Cable Market Outlook, By Stranded (2021-2030) ($MN)
78 Asia Pacific Solar Cable Market Outlook, By Solid (2021-2030) ($MN)
79 Asia Pacific Solar Cable Market Outlook, By Application (2021-2030) ($MN)
80 Asia Pacific Solar Cable Market Outlook, By Underground Service Entrances (2021-2030) ($MN)
81 Asia Pacific Solar Cable Market Outlook, By Solar Panel Wiring (2021-2030) ($MN)
82 Asia Pacific Solar Cable Market Outlook, By Service Terminal Connections (2021-2030) ($MN)
83 Asia Pacific Solar Cable Market Outlook, By Other Applications (2021-2030) ($MN)
84 Asia Pacific Solar Cable Market Outlook, By End User (2021-2030) ($MN)
85 Asia Pacific Solar Cable Market Outlook, By Commercial (2021-2030) ($MN)
86 Asia Pacific Solar Cable Market Outlook, By Residential (2021-2030) ($MN)
87 Asia Pacific Solar Cable Market Outlook, By Industrial (2021-2030) ($MN)
88 Asia Pacific Solar Cable Market Outlook, By Other End Users (2021-2030) ($MN)
89 South America Solar Cable Market Outlook, By Country (2021-2030) ($MN)
90 South America Solar Cable Market Outlook, By Material Type (2021-2030) ($MN)
91 South America Solar Cable Market Outlook, By Aluminum (2021-2030) ($MN)
92 South America Solar Cable Market Outlook, By Copper (2021-2030) ($MN)
93 South America Solar Cable Market Outlook, By Other Material Types (2021-2030) ($MN)
94 South America Solar Cable Market Outlook, By Voltage Type (2021-2030) ($MN)
95 South America Solar Cable Market Outlook, By High Voltage Cable (2021-2030) ($MN)
96 South America Solar Cable Market Outlook, By Medium Voltage Cable (2021-2030) ($MN)
97 South America Solar Cable Market Outlook, By Low Voltage Cable (2021-2030) ($MN)
98 South America Solar Cable Market Outlook, By Cable Type (2021-2030) ($MN)
99 South America Solar Cable Market Outlook, By Stranded (2021-2030) ($MN)
100 South America Solar Cable Market Outlook, By Solid (2021-2030) ($MN)
101 South America Solar Cable Market Outlook, By Application (2021-2030) ($MN)
102 South America Solar Cable Market Outlook, By Underground Service Entrances (2021-2030) ($MN)
103 South America Solar Cable Market Outlook, By Solar Panel Wiring (2021-2030) ($MN)
104 South America Solar Cable Market Outlook, By Service Terminal Connections (2021-2030) ($MN)
105 South America Solar Cable Market Outlook, By Other Applications (2021-2030) ($MN)
106 South America Solar Cable Market Outlook, By End User (2021-2030) ($MN)
107 South America Solar Cable Market Outlook, By Commercial (2021-2030) ($MN)
108 South America Solar Cable Market Outlook, By Residential (2021-2030) ($MN)
109 South America Solar Cable Market Outlook, By Industrial (2021-2030) ($MN)
110 South America Solar Cable Market Outlook, By Other End Users (2021-2030) ($MN)
111 Middle East & Africa Solar Cable Market Outlook, By Country (2021-2030) ($MN)
112 Middle East & Africa Solar Cable Market Outlook, By Material Type (2021-2030) ($MN)
113 Middle East & Africa Solar Cable Market Outlook, By Aluminum (2021-2030) ($MN)
114 Middle East & Africa Solar Cable Market Outlook, By Copper (2021-2030) ($MN)
115 Middle East & Africa Solar Cable Market Outlook, By Other Material Types (2021-2030) ($MN)
116 Middle East & Africa Solar Cable Market Outlook, By Voltage Type (2021-2030) ($MN)
117 Middle East & Africa Solar Cable Market Outlook, By High Voltage Cable (2021-2030) ($MN)
118 Middle East & Africa Solar Cable Market Outlook, By Medium Voltage Cable (2021-2030) ($MN)
119 Middle East & Africa Solar Cable Market Outlook, By Low Voltage Cable (2021-2030) ($MN)
120 Middle East & Africa Solar Cable Market Outlook, By Cable Type (2021-2030) ($MN)
121 Middle East & Africa Solar Cable Market Outlook, By Stranded (2021-2030) ($MN)
122 Middle East & Africa Solar Cable Market Outlook, By Solid (2021-2030) ($MN)
123 Middle East & Africa Solar Cable Market Outlook, By Application (2021-2030) ($MN)
124 Middle East & Africa Solar Cable Market Outlook, By Underground Service Entrances (2021-2030) ($MN)
125 Middle East & Africa Solar Cable Market Outlook, By Solar Panel Wiring (2021-2030) ($MN)
126 Middle East & Africa Solar Cable Market Outlook, By Service Terminal Connections (2021-2030) ($MN)
127 Middle East & Africa Solar Cable Market Outlook, By Other Applications (2021-2030) ($MN)
128 Middle East & Africa Solar Cable Market Outlook, By End User (2021-2030) ($MN)
129 Middle East & Africa Solar Cable Market Outlook, By Commercial (2021-2030) ($MN)
130 Middle East & Africa Solar Cable Market Outlook, By Residential (2021-2030) ($MN)
131 Middle East & Africa Solar Cable Market Outlook, By Industrial (2021-2030) ($MN)
132 Middle East & Africa Solar Cable Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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