Vehicle Subscription Market
Vehicle Subscription Market Forecasts to 2028 - Global Analysis By Subscription Type (Single Brand (Single Brand Swap) and Multiple Brand (Multi Brand Swap)), Vehicle Type (Electric Vehicle and IC Powered Vehicle), Subscription Period (1 to 6 Months, 6 to 12 Months and More than 12 Months) Service providers (Independent/Third Party Service Provider and OEMs & Captives), Package (Premium, Standard and Budget), End User and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $3,909.6 MN |
|
Projected Year Value (2028) |
US $22,432.26 MN |
|
CAGR (2022 - 2028) |
33.8% |
|
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 Vehicle Subscription Market is accounted for $3,909.6 million in 2022 and is expected to reach $22,432.26 million by 2028 growing at a CAGR of 33.8% during the forecast period. A vehicle subscription service is one in which a consumer pays a monthly charge to utilise one or more automobiles. Some vehicle subscriptions include insurance and maintenance as part of the monthly charge, while others allow the subscriber to transfer between vehicles during the subscription time. According to industry observers, a vehicle's subscription is an alternative to acquiring or leasing a vehicle. The difference between a vehicle subscription and owning a vehicle is that the subscription provider keeps vehicle ownership. In contrast, vehicle rental necessitates the effort of locating vehicles for certain dates or trips.
According to Frost & Sullivan, China is likely to account for 55 percent of all electric vehicle sales. In comparison, 21.2 percent of EVs will be sold in the Americas – the second largest market share – and the rest of the Asia-Pacific region is responsible for only 4.2 percent of EV sales.
Market Dynamics:
Driver:
Affordable and accessible vehicles
The vehicles subscription business is quickly developing because to vehicle affordability and accessibility. Furthermore, the significant increase in disposable income of consumers in developing countries is expected to drive market expansion. The cost-effectiveness and accessibility of user access to vehicles are driving the global adoption of the vehicle subscription model. For example, Fair Financial Corporation announced the relaunch of its app for offering subscriptions to its used car inventory. Fair plans to begin subscriptions for used-car leases provided by third-party vendors in the first quarter of 2022, with the goal of becoming a central point for all automotive retail.
Restraint:
Poor transport infrastructure facilities witnessed in developing countries
Increased demand for vehicle leasing, car sharing, and car rental, as well as more cost-effective vehicle leasing models compared to vehicle subscription services, may stymie the global expansion of the vehicle subscription sector. Inadequate transportation infrastructure and hefty monthly fees for short-term automobile subscriptions in emerging economies may stymie the global vehicle subscription industry's growth.
Opportunity:
Rising cost of vehicle ownership & shifting consumer preference from ownership to usership
The fast rise in the cost of car ownership is driving individuals to switch to subscription services. According to the American Automobile Association, the average cost to purchase and run a new car in 2022 will be USD 10,738 (up 11% from last year). Rising fuel prices, depreciation, a shortage of microchips, and costly maintenance and insurance charges have all contributed to high operating expenses. As a result, people are increasingly turning to subscription services as an alternative to vehicle ownership.
Threat:
Availability of alternatives such as vehicle leasing and sharing
The availability of various mobility services, such as rental, car leasing, and sharing services, is expected to limit market expansion. Leasing an automobile is a more cost-effective short-term choice than subscription programmes because it comes with lower monthly payments. Another disadvantage of the subscription programme is the limited monthly miles, which may preclude the possibility of extensive daily trips.
Covid-19 Impact
During the COVID-19 pandemic, the whole automotive industry saw a dip in income due to decreased automobile sales and production, a disrupted supply chain, and customers' focus on lowering the expenses of unnecessary purchases. However, throughout the epidemic, the use of vehicle subscription services increased. The increasing number of health concerns among the people, combined with a decrease in the usage of shared mobility and mass transportation as a precaution against the virus, has accelerated the global vehicle subscription market growth. Vehicle subscription has also received a lot of attention in the mainstream media, which has increased customer popularity and interest.
The electric vehicle segment is expected to be the largest during the forecast period
The electric vehicle segment is estimated to have a lucrative growth owing to the increased penetration of the electric vehicle sales and the traction towards electric mobility. The growing popularity of EVs will drive up demand for EV subscription services. Toyota, GM, Stellantis, Honda, Nissan, and others are reporting more EV sales as increasing petrol costs continue to enhance EV popularity. Furthermore, the government's commitment in encouraging electric vehicles will contribute positively to the expansion of the vehicle subscription industry.
The independent/third party service provider segment is expected to have the highest CAGR during the forecast period
The independent/third party service provider segment is anticipated to witness the highest CAGR growth during the forecast period. The expanding number of independent third-party suppliers or startups offering generally multi-brand car subscriptions through their platforms is fuelling segment growth. Companies such as Cluno, Flexdrive, Turo, Fair, Carvolution, and Drove, among others, provide multi-brand subscription services across multiple areas.
Region with highest share:
Europe is projected to hold the largest market share during the forecast period. The existence of various mobility service providers as well as established automakers such as Mercedes, BMW, and others is propelling the market forward. Furthermore, Europe has a strong presence in the automotive sector; thus, shifting the focus of European automakers to mobility service-based models to diversify their business in response to the interests of the new generation is expected to generate lucrative opportunities for the region's market.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period. Rising awareness of subscription-based models, as well as government emphasis on automotive electrification to combat climate change, are some of the drivers driving the region's market growth. The expensive cost of electric automobiles is driving the public to adopt subscription-based electric mobility services. Furthermore, the presence of a robust automotive sector, along with a diminishing interest in car ownership among the younger generation, is expected to enhance market growth throughout the projection period.
Key players in the market
Some of the key players profiled in the Vehicle Subscription Market include CarNext, Hyundai Motor India, Wagonex Limited, Volkswagen, DriveMyCar Rentals Pty Ltd, General Motors, Fair Financial Corp., FlexDrive, ZoomCar, AB Volvo, ORIX, Carvolution, Arval BNP Paribas Group, Lyft Inc. , Cluno GmbH and Clutch Technologies, LLC.
Key Developments:
In October 2022, Carvolution raised USD 16.12 million in Series D funding from Redalpine. With the investment, Carvolution aims to further expand its car subscription business. It also seeks to deploy a part of the funds to simplify buying and selling used cars by bringing them online for its customers.
In March 2022, Arval launched its flexible vehicle subscription solution, Arval Adaptiv, for private customers. The subscription will allow its private customers to choose a specific model within a range of selected cars, both ICE and EVs, with flexibility in terms of duration.
In September 2021, Orix partnered with Volkswagen for a subscription-based car ownership model. Orix, in partnership with Volkswagen, will offer its customers on-road financing, insurance cover, periodic maintenance, and an option to return or upgrade the car at the convenience of the customer.
In October 2020, AB Volvo added flexibility to its subscription program. In this program, customers can upgrade or return a new subscription at any time after the first four months. The flexible subscription enhances the car subscription by including maintenance and insurance costs.
Subscription Types Covered:
• Single Brand (Single Brand Swap)
• Multiple Brand (Multi Brand Swap)
Vehicle Types Covered:
• Electric Vehicle
• IC Powered Vehicle
Subscription Periods Covered:
• 1 to 6 Months
• 6 to 12 Months
• More than 12 Months
Service providers Covered:
• Independent/Third Party Service Provider
• OEMs & Captives
Packages Covered:
• Premium
• Standard
• Budget
End Users Covered:
• Private
• Business
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 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 Vehicle Subscription Market, By Subscription Type
5.1 Introduction
5.2 Single Brand (Single Brand Swap)
5.3 Multiple Brand (Multi Brand Swap)
6 Global Vehicle Subscription Market, By Vehicle Type
6.1 Introduction
6.2 Electric Vehicle
6.3 IC Powered Vehicle
7 Global Vehicle Subscription Market, By Subscription Period
7.1 Introduction
7.2 1 to 6 Months
7.3 6 to 12 Months
7.4 More than 12 Months
8 Global Vehicle Subscription Market, By Service Providers
8.1 Introduction
8.2 Independent/Third Party Service Provider
8.3 OEMs & Captives
9 Global Vehicle Subscription Market, By Package
9.1 Introduction
9.2 Premium
9.3 Standard
9.4 Budget
10 Global Vehicle Subscription Market, By End User
10.1 Introduction
10.2 Private
10.3 Business
11 Global Vehicle Subscription Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 CarNext
13.2 Hyundai Motor India
13.3 Wagonex Limited
13.4 Volkswagen
13.5 DriveMyCar Rentals Pty Ltd
13.6 General Motors
13.7 Fair Financial Corp.
13.8 FlexDrive
13.9 ZoomCar
13.10 AB Volvo
13.11 ORIX
13.12 Carvolution
13.13 Arval BNP Paribas Group
13.14 Lyft Inc.
13.15 Cluno GmbH
13.16 Clutch Technologies, LLC
List of Tables
1 Global Vehicle Subscription Market Outlook, By Region (2020-2028) ($MN)
2 Global Vehicle Subscription Market Outlook, By Subscription Type (2020-2028) ($MN)
3 Global Vehicle Subscription Market Outlook, By Single Brand (Single Brand Swap) (2020-2028) ($MN)
4 Global Vehicle Subscription Market Outlook, By Multiple Brand (Multi Brand Swap) (2020-2028) ($MN)
5 Global Vehicle Subscription Market Outlook, By Vehicle Type (2020-2028) ($MN)
6 Global Vehicle Subscription Market Outlook, By Electric Vehicle (2020-2028) ($MN)
7 Global Vehicle Subscription Market Outlook, By IC Powered Vehicle (2020-2028) ($MN)
8 Global Vehicle Subscription Market Outlook, By Subscription Period (2020-2028) ($MN)
9 Global Vehicle Subscription Market Outlook, By 1 to 6 Months (2020-2028) ($MN)
10 Global Vehicle Subscription Market Outlook, By 6 to 12 Months (2020-2028) ($MN)
11 Global Vehicle Subscription Market Outlook, By More than 12 Months (2020-2028) ($MN)
12 Global Vehicle Subscription Market Outlook, By Service providers (2020-2028) ($MN)
13 Global Vehicle Subscription Market Outlook, By Independent/Third Party Service Provider (2020-2028) ($MN)
14 Global Vehicle Subscription Market Outlook, By OEMs & Captives (2020-2028) ($MN)
15 Global Vehicle Subscription Market Outlook, By Package (2020-2028) ($MN)
16 Global Vehicle Subscription Market Outlook, By Premium (2020-2028) ($MN)
17 Global Vehicle Subscription Market Outlook, By Standard (2020-2028) ($MN)
18 Global Vehicle Subscription Market Outlook, By Budget (2020-2028) ($MN)
19 Global Vehicle Subscription Market Outlook, By End User (2020-2028) ($MN)
20 Global Vehicle Subscription Market Outlook, By Private (2020-2028) ($MN)
21 Global Vehicle Subscription Market Outlook, By Business (2020-2028) ($MN)
22 North America Vehicle Subscription Market Outlook, By Counrty (2020-2028) ($MN)
23 North America Vehicle Subscription Market Outlook, By Subscription Type (2020-2028) ($MN)
24 North America Vehicle Subscription Market Outlook, By Single Brand (Single Brand Swap) (2020-2028) ($MN)
25 North America Vehicle Subscription Market Outlook, By Multiple Brand (Multi Brand Swap) (2020-2028) ($MN)
26 North America Vehicle Subscription Market Outlook, By Vehicle Type (2020-2028) ($MN)
27 North America Vehicle Subscription Market Outlook, By Electric Vehicle (2020-2028) ($MN)
28 North America Vehicle Subscription Market Outlook, By IC Powered Vehicle (2020-2028) ($MN)
29 North America Vehicle Subscription Market Outlook, By Subscription Period (2020-2028) ($MN)
30 North America Vehicle Subscription Market Outlook, By 1 to 6 Months (2020-2028) ($MN)
31 North America Vehicle Subscription Market Outlook, By 6 to 12 Months (2020-2028) ($MN)
32 North America Vehicle Subscription Market Outlook, By More than 12 Months (2020-2028) ($MN)
33 North America Vehicle Subscription Market Outlook, By Service providers (2020-2028) ($MN)
34 North America Vehicle Subscription Market Outlook, By Independent/Third Party Service Provider (2020-2028) ($MN)
35 North America Vehicle Subscription Market Outlook, By OEMs & Captives (2020-2028) ($MN)
36 North America Vehicle Subscription Market Outlook, By Package (2020-2028) ($MN)
37 North America Vehicle Subscription Market Outlook, By Premium (2020-2028) ($MN)
38 North America Vehicle Subscription Market Outlook, By Standard (2020-2028) ($MN)
39 North America Vehicle Subscription Market Outlook, By Budget (2020-2028) ($MN)
40 North America Vehicle Subscription Market Outlook, By End User (2020-2028) ($MN)
41 North America Vehicle Subscription Market Outlook, By Private (2020-2028) ($MN)
42 North America Vehicle Subscription Market Outlook, By Business (2020-2028) ($MN)
43 Europe Vehicle Subscription Market Outlook, By Counrty (2020-2028) ($MN)
44 Europe Vehicle Subscription Market Outlook, By Subscription Type (2020-2028) ($MN)
45 Europe Vehicle Subscription Market Outlook, By Single Brand (Single Brand Swap) (2020-2028) ($MN)
46 Europe Vehicle Subscription Market Outlook, By Multiple Brand (Multi Brand Swap) (2020-2028) ($MN)
47 Europe Vehicle Subscription Market Outlook, By Vehicle Type (2020-2028) ($MN)
48 Europe Vehicle Subscription Market Outlook, By Electric Vehicle (2020-2028) ($MN)
49 Europe Vehicle Subscription Market Outlook, By IC Powered Vehicle (2020-2028) ($MN)
50 Europe Vehicle Subscription Market Outlook, By Subscription Period (2020-2028) ($MN)
51 Europe Vehicle Subscription Market Outlook, By 1 to 6 Months (2020-2028) ($MN)
52 Europe Vehicle Subscription Market Outlook, By 6 to 12 Months (2020-2028) ($MN)
53 Europe Vehicle Subscription Market Outlook, By More than 12 Months (2020-2028) ($MN)
54 Europe Vehicle Subscription Market Outlook, By Service providers (2020-2028) ($MN)
55 Europe Vehicle Subscription Market Outlook, By Independent/Third Party Service Provider (2020-2028) ($MN)
56 Europe Vehicle Subscription Market Outlook, By OEMs & Captives (2020-2028) ($MN)
57 Europe Vehicle Subscription Market Outlook, By Package (2020-2028) ($MN)
58 Europe Vehicle Subscription Market Outlook, By Premium (2020-2028) ($MN)
59 Europe Vehicle Subscription Market Outlook, By Standard (2020-2028) ($MN)
60 Europe Vehicle Subscription Market Outlook, By Budget (2020-2028) ($MN)
61 Europe Vehicle Subscription Market Outlook, By End User (2020-2028) ($MN)
62 Europe Vehicle Subscription Market Outlook, By Private (2020-2028) ($MN)
63 Europe Vehicle Subscription Market Outlook, By Business (2020-2028) ($MN)
64 Asia Pacific Vehicle Subscription Market Outlook, By Counrty (2020-2028) ($MN)
65 Asia Pacific Vehicle Subscription Market Outlook, By Subscription Type (2020-2028) ($MN)
66 Asia Pacific Vehicle Subscription Market Outlook, By Single Brand (Single Brand Swap) (2020-2028) ($MN)
67 Asia Pacific Vehicle Subscription Market Outlook, By Multiple Brand (Multi Brand Swap) (2020-2028) ($MN)
68 Asia Pacific Vehicle Subscription Market Outlook, By Vehicle Type (2020-2028) ($MN)
69 Asia Pacific Vehicle Subscription Market Outlook, By Electric Vehicle (2020-2028) ($MN)
70 Asia Pacific Vehicle Subscription Market Outlook, By IC Powered Vehicle (2020-2028) ($MN)
71 Asia Pacific Vehicle Subscription Market Outlook, By Subscription Period (2020-2028) ($MN)
72 Asia Pacific Vehicle Subscription Market Outlook, By 1 to 6 Months (2020-2028) ($MN)
73 Asia Pacific Vehicle Subscription Market Outlook, By 6 to 12 Months (2020-2028) ($MN)
74 Asia Pacific Vehicle Subscription Market Outlook, By More than 12 Months (2020-2028) ($MN)
75 Asia Pacific Vehicle Subscription Market Outlook, By Service providers (2020-2028) ($MN)
76 Asia Pacific Vehicle Subscription Market Outlook, By Independent/Third Party Service Provider (2020-2028) ($MN)
77 Asia Pacific Vehicle Subscription Market Outlook, By OEMs & Captives (2020-2028) ($MN)
78 Asia Pacific Vehicle Subscription Market Outlook, By Package (2020-2028) ($MN)
79 Asia Pacific Vehicle Subscription Market Outlook, By Premium (2020-2028) ($MN)
80 Asia Pacific Vehicle Subscription Market Outlook, By Standard (2020-2028) ($MN)
81 Asia Pacific Vehicle Subscription Market Outlook, By Budget (2020-2028) ($MN)
82 Asia Pacific Vehicle Subscription Market Outlook, By End User (2020-2028) ($MN)
83 Asia Pacific Vehicle Subscription Market Outlook, By Private (2020-2028) ($MN)
84 Asia Pacific Vehicle Subscription Market Outlook, By Business (2020-2028) ($MN)
85 South America Vehicle Subscription Market Outlook, By Counrty (2020-2028) ($MN)
86 South America Vehicle Subscription Market Outlook, By Subscription Type (2020-2028) ($MN)
87 South America Vehicle Subscription Market Outlook, By Single Brand (Single Brand Swap) (2020-2028) ($MN)
88 South America Vehicle Subscription Market Outlook, By Multiple Brand (Multi Brand Swap) (2020-2028) ($MN)
89 South America Vehicle Subscription Market Outlook, By Vehicle Type (2020-2028) ($MN)
90 South America Vehicle Subscription Market Outlook, By Electric Vehicle (2020-2028) ($MN)
91 South America Vehicle Subscription Market Outlook, By IC Powered Vehicle (2020-2028) ($MN)
92 South America Vehicle Subscription Market Outlook, By Subscription Period (2020-2028) ($MN)
93 South America Vehicle Subscription Market Outlook, By 1 to 6 Months (2020-2028) ($MN)
94 South America Vehicle Subscription Market Outlook, By 6 to 12 Months (2020-2028) ($MN)
95 South America Vehicle Subscription Market Outlook, By More than 12 Months (2020-2028) ($MN)
96 South America Vehicle Subscription Market Outlook, By Service providers (2020-2028) ($MN)
97 South America Vehicle Subscription Market Outlook, By Independent/Third Party Service Provider (2020-2028) ($MN)
98 South America Vehicle Subscription Market Outlook, By OEMs & Captives (2020-2028) ($MN)
99 South America Vehicle Subscription Market Outlook, By Package (2020-2028) ($MN)
100 South America Vehicle Subscription Market Outlook, By Premium (2020-2028) ($MN)
101 South America Vehicle Subscription Market Outlook, By Standard (2020-2028) ($MN)
102 South America Vehicle Subscription Market Outlook, By Budget (2020-2028) ($MN)
103 South America Vehicle Subscription Market Outlook, By End User (2020-2028) ($MN)
104 South America Vehicle Subscription Market Outlook, By Private (2020-2028) ($MN)
105 South America Vehicle Subscription Market Outlook, By Business (2020-2028) ($MN)
106 Middle East & Africa Vehicle Subscription Market Outlook, By Counrty (2020-2028) ($MN)
107 Middle East & Africa Vehicle Subscription Market Outlook, By Subscription Type (2020-2028) ($MN)
108 Middle East & Africa Vehicle Subscription Market Outlook, By Single Brand (Single Brand Swap) (2020-2028) ($MN)
109 Middle East & Africa Vehicle Subscription Market Outlook, By Multiple Brand (Multi Brand Swap) (2020-2028) ($MN)
110 Middle East & Africa Vehicle Subscription Market Outlook, By Vehicle Type (2020-2028) ($MN)
111 Middle East & Africa Vehicle Subscription Market Outlook, By Electric Vehicle (2020-2028) ($MN)
112 Middle East & Africa Vehicle Subscription Market Outlook, By IC Powered Vehicle (2020-2028) ($MN)
113 Middle East & Africa Vehicle Subscription Market Outlook, By Subscription Period (2020-2028) ($MN)
114 Middle East & Africa Vehicle Subscription Market Outlook, By 1 to 6 Months (2020-2028) ($MN)
115 Middle East & Africa Vehicle Subscription Market Outlook, By 6 to 12 Months (2020-2028) ($MN)
116 Middle East & Africa Vehicle Subscription Market Outlook, By More than 12 Months (2020-2028) ($MN)
117 Middle East & Africa Vehicle Subscription Market Outlook, By Service providers (2020-2028) ($MN)
118 Middle East & Africa Vehicle Subscription Market Outlook, By Independent/Third Party Service Provider (2020-2028) ($MN)
119 Middle East & Africa Vehicle Subscription Market Outlook, By OEMs & Captives (2020-2028) ($MN)
120 Middle East & Africa Vehicle Subscription Market Outlook, By Package (2020-2028) ($MN)
121 Middle East & Africa Vehicle Subscription Market Outlook, By Premium (2020-2028) ($MN)
122 Middle East & Africa Vehicle Subscription Market Outlook, By Standard (2020-2028) ($MN)
123 Middle East & Africa Vehicle Subscription Market Outlook, By Budget (2020-2028) ($MN)
124 Middle East & Africa Vehicle Subscription Market Outlook, By End User (2020-2028) ($MN)
125 Middle East & Africa Vehicle Subscription Market Outlook, By Private (2020-2028) ($MN)
126 Middle East & Africa Vehicle Subscription Market Outlook, By Business (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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