Wireless Occupancy Sensors Market
Wireless Occupancy Sensors Market Forecasts to 2028 - Global Analysis By Building Type (Commercial Buildings and Residential Buildings), Type (Dual Technology (PIR and Ultrasonic), Passive Infrared, Ultrasonic and Other Types), Application (Security Surveillance, Lighting Control, HVAC and Other Applications), End User and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $2.5 BN |
|
Projected Year Value (2028) |
US $5.8 BN |
|
CAGR (2022 - 2028) |
15.3% |
|
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 |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Wireless Occupancy Sensors Market is accounted for $2.5 billion in 2022 and is expected to reach $5.8 billion by 2028 growing at a CAGR of 15.3% during the forecast period. A wireless occupancy sensor is a tool for figuring out whether there are people around. Based on the number of people in a room, this kind of sensor can be used to regulate lighting, HVAC systems, or other devices. In office buildings, educational institutions, and other large buildings where it is crucial to save energy by turning off lights or heating/cooling systems when not in use, wireless occupancy sensors are frequently employed. Wireless occupancy sensors are crucial for cutting down on energy use. This is frequently accomplished with sensors, which turn off lights, appliances, and other equipment when they sense occupancy.
According to the United Nations, Department of Economic and Social Affairs, 60% of the population will be living in cities by 2050.
Market Dynamics:
Driver:
Growing demand for energy-efficient devices
Occupancy sensors have become widely used for a number of reasons, including the rising demand for energy-efficient equipment across a variety of industries. Additionally, energy conservation is regarded as one of the key elements in the market's development of occupancy sensors. Occupancy sensors are mostly used in applications like lighting control, HVAC systems, and security surveillance to lower the level of energy consumption. The use of occupancy sensors has been cited as a strategy to cut back on energy usage. In this regard, effective steps are being taken by both public and private businesses as well as government organisations to integrate occupancy sensors in the majority of building types.
Restraint:
Inconsistency issues related to wireless network systems
Connecting an occupancy sensor with other control systems such as lighting control systems and HVAC control systems occasionally poses complications. The main cause of this is incompatibility problems when an occupancy sensor connected to a lighting and HVAC control system using one wireless protocol and another. For instance, if all the lighting devices are linked to a single network and an internet-enabled system uses ZigBee technology to communicate with smart control systems, the entire network must be integrated with a similar wireless technology that is compatible. The lighting sector has been noted to lack a clear strategy for wireless connectivity at the moment.
Opportunity:
Promotion of green building by governments
One of many nations' top goals nowadays is energy efficiency in order to reduce carbon emissions and energy consumption. The governments of European nations have been pushing for the adoption of energy-efficient policies across the region during the last few years. Government regulations support the use of home automation systems. The knowledge regarding the unfavourable impacts of global warming further encourages the usage of automated home energy management systems. Such government actions will support the development of the smart home trend and its occupancy sensor-equipped lighting control system.
Threat:
Lack of awareness regarding benefits of occupancy sensors
Compared to other lighting technologies like motion sensors and vacancy sensors, occupancy sensors are less often used. It struggles with the challenge of correctly anticipating occupant occupancy. User occupancy, lighting control patterns, and sensor choice all affect how well an occupancy sensor performs. Additionally, it is thought to be expensive, and few people are aware of the advantages of occupancy sensors in terms of cost. However, it is anticipated that customers would accept and use occupancy sensors as a result of the government's emphasis on energy conservation and the growing public awareness of this issue.
Covid-19 Impact
The COVID-19 and Working from home episode have dominated many professional associations in the area. The Covid-19 incident has created difficulties for various businesses in the area, including the need to develop flexible business practises to keep the local economy afloat and assist individuals and their families in making ends meet both now and in the future.
The ultrasonic segment is expected to be the largest during the forecast period
The ultrasonic segment is estimated to have a lucrative growth. The ultrasonic variety of wireless occupancy sensor makes use of sound waves to find people in a room. It uses a microphone to find sound waves reflected off of nearby persons. The control panel can then use the signal the sensor sends to change the room's lighting or temperature. In commercial and industrial settings, occupancy sensors of the ultrasonic variety are frequently utilised.
The Industrial segment is expected to have the highest CAGR during the forecast period
The Industrial segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the increasing demand for automation and efficiency in industry. Industrial uses for wireless occupancy sensors include energy management, lighting control, security, and HVAC monitoring. These sensors may be used to track movement inside buildings, which enables the industrial operations to be automated.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the area's escalating industrialisation and quick urbanisation. The Asia Pacific region's economies, including India, China, and Indonesia among others, have seen a surge in residential construction activity as a result of the region's expanding population and increased demand for consumer goods and services.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to it is used in so many different sectors and applications. In North America, the commercial, industrial, and residential markets are the most well-liked. In order to give automated and remote control of lighting and temperature in order to save energy and money, Wireless Occupancy Sensors are employed in all of these markets.
Key players in the market
Some of the key players profiled in the Wireless Occupancy Sensors Market include Cooper Industries, Acuity Brands, Honeywell, Lutron Electronics, Schneider electric, Johnson Controls, Hubbell Automation, Eaton, Pammvi Group, Texas Instruments, Leviton, Philips, GE and CES.
Key Developments:
In January 2019, CES in Las Vegas, EnOcean, the world leader in energy harvesting wireless technology launched a new ceiling-mounted solar-powered occupancy sensor (PIR) for Bluetooth lighting control systems communicating via Bluetooth Low Energy (BLE). It will be the first self-powered Bluetooth occupancy sensor on the market integrating EnOcean's field-proven energy harvesting technology and offering the best customer experience by being maintenance-free, freely positionable, and highly flexible with easy installation.
Building Types Covered:
• Commercial Buildings
• Residential Buildings
Types Covered:
• Dual Technology (PIR and Ultrasonic)
• Passive Infrared
• Ultrasonic
• Other Types
Applications Covered:
• Security Surveillance
• Lighting Control
• HVAC
• Other Applications
End Users Covered:
• Aerospace & Defence
• Healthcare
• Industrial
• Consumer Electronics
• 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 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 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 Wireless Occupancy Sensors Market, By Building Type
5.1 Introduction
5.2 Commercial Buildings
5.3 Residential Buildings
6 Global Wireless Occupancy Sensors Market, By Type
6.1 Introduction
6.2 Dual Technology (PIR and Ultrasonic)
6.3 Passive Infrared
6.4 Ultrasonic
6.5 Other Types
7 Global Wireless Occupancy Sensors Market, By Application
7.1 Introduction
7.2 Security Surveillance
7.3 Lighting Control
7.4 HVAC
7.5 Other Applications
8 Global Wireless Occupancy Sensors Market, By End User
8.1 Introduction
8.2 Aerospace & Defence
8.3 Healthcare
8.4 Industrial
8.5 Consumer Electronics
8.6 Other End Users
9 Global Wireless Occupancy Sensors 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 Cooper Industries
11.2 Acuity Brands
11.3 Honeywell
11.4 Lutron Electronics
11.5 Schneider electric
11.6 Johnson Controls
11.7 Hubbell Automation
11.8 Eaton
11.9 Pammvi Group
11.10 Texas Instruments
11.11 Leviton
11.12 Philips
11.13 GE
11.14 CES
List of Tables
1 Global Wireless Occupancy Sensors Market Outlook, By Region (2020-2028) ($MN)
2 Global Wireless Occupancy Sensors Market Outlook, By Building Type (2020-2028) ($MN)
3 Global Wireless Occupancy Sensors Market Outlook, By Commercial Buildings (2020-2028) ($MN)
4 Global Wireless Occupancy Sensors Market Outlook, By Residential Buildings (2020-2028) ($MN)
5 Global Wireless Occupancy Sensors Market Outlook, By Type (2020-2028) ($MN)
6 Global Wireless Occupancy Sensors Market Outlook, By Dual Technology (PIR and Ultrasonic) (2020-2028) ($MN)
7 Global Wireless Occupancy Sensors Market Outlook, By Passive Infrared (2020-2028) ($MN)
8 Global Wireless Occupancy Sensors Market Outlook, By Ultrasonic (2020-2028) ($MN)
9 Global Wireless Occupancy Sensors Market Outlook, By Other Types (2020-2028) ($MN)
10 Global Wireless Occupancy Sensors Market Outlook, By Application (2020-2028) ($MN)
11 Global Wireless Occupancy Sensors Market Outlook, By Security Surveillance (2020-2028) ($MN)
12 Global Wireless Occupancy Sensors Market Outlook, By Lighting Control (2020-2028) ($MN)
13 Global Wireless Occupancy Sensors Market Outlook, By HVAC (2020-2028) ($MN)
14 Global Wireless Occupancy Sensors Market Outlook, By Other Applications (2020-2028) ($MN)
15 Global Wireless Occupancy Sensors Market Outlook, By End User (2020-2028) ($MN)
16 Global Wireless Occupancy Sensors Market Outlook, By Aerospace & Defence (2020-2028) ($MN)
17 Global Wireless Occupancy Sensors Market Outlook, By Healthcare (2020-2028) ($MN)
18 Global Wireless Occupancy Sensors Market Outlook, By Industrial (2020-2028) ($MN)
19 Global Wireless Occupancy Sensors Market Outlook, By Consumer Electronics (2020-2028) ($MN)
20 Global Wireless Occupancy Sensors Market Outlook, By Other End Users (2020-2028) ($MN)
21 North America Wireless Occupancy Sensors Market Outlook, By Country (2020-2028) ($MN)
22 North America Wireless Occupancy Sensors Market Outlook, By Building Type (2020-2028) ($MN)
23 North America Wireless Occupancy Sensors Market Outlook, By Commercial Buildings (2020-2028) ($MN)
24 North America Wireless Occupancy Sensors Market Outlook, By Residential Buildings (2020-2028) ($MN)
25 North America Wireless Occupancy Sensors Market Outlook, By Type (2020-2028) ($MN)
26 North America Wireless Occupancy Sensors Market Outlook, By Dual Technology (PIR and Ultrasonic) (2020-2028) ($MN)
27 North America Wireless Occupancy Sensors Market Outlook, By Passive Infrared (2020-2028) ($MN)
28 North America Wireless Occupancy Sensors Market Outlook, By Ultrasonic (2020-2028) ($MN)
29 North America Wireless Occupancy Sensors Market Outlook, By Other Types (2020-2028) ($MN)
30 North America Wireless Occupancy Sensors Market Outlook, By Application (2020-2028) ($MN)
31 North America Wireless Occupancy Sensors Market Outlook, By Security Surveillance (2020-2028) ($MN)
32 North America Wireless Occupancy Sensors Market Outlook, By Lighting Control (2020-2028) ($MN)
33 North America Wireless Occupancy Sensors Market Outlook, By HVAC (2020-2028) ($MN)
34 North America Wireless Occupancy Sensors Market Outlook, By Other Applications (2020-2028) ($MN)
35 North America Wireless Occupancy Sensors Market Outlook, By End User (2020-2028) ($MN)
36 North America Wireless Occupancy Sensors Market Outlook, By Aerospace & Defence (2020-2028) ($MN)
37 North America Wireless Occupancy Sensors Market Outlook, By Healthcare (2020-2028) ($MN)
38 North America Wireless Occupancy Sensors Market Outlook, By Industrial (2020-2028) ($MN)
39 North America Wireless Occupancy Sensors Market Outlook, By Consumer Electronics (2020-2028) ($MN)
40 North America Wireless Occupancy Sensors Market Outlook, By Other End Users (2020-2028) ($MN)
41 Europe Wireless Occupancy Sensors Market Outlook, By Country (2020-2028) ($MN)
42 Europe Wireless Occupancy Sensors Market Outlook, By Building Type (2020-2028) ($MN)
43 Europe Wireless Occupancy Sensors Market Outlook, By Commercial Buildings (2020-2028) ($MN)
44 Europe Wireless Occupancy Sensors Market Outlook, By Residential Buildings (2020-2028) ($MN)
45 Europe Wireless Occupancy Sensors Market Outlook, By Type (2020-2028) ($MN)
46 Europe Wireless Occupancy Sensors Market Outlook, By Dual Technology (PIR and Ultrasonic) (2020-2028) ($MN)
47 Europe Wireless Occupancy Sensors Market Outlook, By Passive Infrared (2020-2028) ($MN)
48 Europe Wireless Occupancy Sensors Market Outlook, By Ultrasonic (2020-2028) ($MN)
49 Europe Wireless Occupancy Sensors Market Outlook, By Other Types (2020-2028) ($MN)
50 Europe Wireless Occupancy Sensors Market Outlook, By Application (2020-2028) ($MN)
51 Europe Wireless Occupancy Sensors Market Outlook, By Security Surveillance (2020-2028) ($MN)
52 Europe Wireless Occupancy Sensors Market Outlook, By Lighting Control (2020-2028) ($MN)
53 Europe Wireless Occupancy Sensors Market Outlook, By HVAC (2020-2028) ($MN)
54 Europe Wireless Occupancy Sensors Market Outlook, By Other Applications (2020-2028) ($MN)
55 Europe Wireless Occupancy Sensors Market Outlook, By End User (2020-2028) ($MN)
56 Europe Wireless Occupancy Sensors Market Outlook, By Aerospace & Defence (2020-2028) ($MN)
57 Europe Wireless Occupancy Sensors Market Outlook, By Healthcare (2020-2028) ($MN)
58 Europe Wireless Occupancy Sensors Market Outlook, By Industrial (2020-2028) ($MN)
59 Europe Wireless Occupancy Sensors Market Outlook, By Consumer Electronics (2020-2028) ($MN)
60 Europe Wireless Occupancy Sensors Market Outlook, By Other End Users (2020-2028) ($MN)
61 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Country (2020-2028) ($MN)
62 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Building Type (2020-2028) ($MN)
63 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Commercial Buildings (2020-2028) ($MN)
64 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Residential Buildings (2020-2028) ($MN)
65 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Type (2020-2028) ($MN)
66 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Dual Technology (PIR and Ultrasonic) (2020-2028) ($MN)
67 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Passive Infrared (2020-2028) ($MN)
68 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Ultrasonic (2020-2028) ($MN)
69 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Other Types (2020-2028) ($MN)
70 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Application (2020-2028) ($MN)
71 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Security Surveillance (2020-2028) ($MN)
72 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Lighting Control (2020-2028) ($MN)
73 Asia Pacific Wireless Occupancy Sensors Market Outlook, By HVAC (2020-2028) ($MN)
74 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Other Applications (2020-2028) ($MN)
75 Asia Pacific Wireless Occupancy Sensors Market Outlook, By End User (2020-2028) ($MN)
76 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Aerospace & Defence (2020-2028) ($MN)
77 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Healthcare (2020-2028) ($MN)
78 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Industrial (2020-2028) ($MN)
79 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Consumer Electronics (2020-2028) ($MN)
80 Asia Pacific Wireless Occupancy Sensors Market Outlook, By Other End Users (2020-2028) ($MN)
81 South America Wireless Occupancy Sensors Market Outlook, By Country (2020-2028) ($MN)
82 South America Wireless Occupancy Sensors Market Outlook, By Building Type (2020-2028) ($MN)
83 South America Wireless Occupancy Sensors Market Outlook, By Commercial Buildings (2020-2028) ($MN)
84 South America Wireless Occupancy Sensors Market Outlook, By Residential Buildings (2020-2028) ($MN)
85 South America Wireless Occupancy Sensors Market Outlook, By Type (2020-2028) ($MN)
86 South America Wireless Occupancy Sensors Market Outlook, By Dual Technology (PIR and Ultrasonic) (2020-2028) ($MN)
87 South America Wireless Occupancy Sensors Market Outlook, By Passive Infrared (2020-2028) ($MN)
88 South America Wireless Occupancy Sensors Market Outlook, By Ultrasonic (2020-2028) ($MN)
89 South America Wireless Occupancy Sensors Market Outlook, By Other Types (2020-2028) ($MN)
90 South America Wireless Occupancy Sensors Market Outlook, By Application (2020-2028) ($MN)
91 South America Wireless Occupancy Sensors Market Outlook, By Security Surveillance (2020-2028) ($MN)
92 South America Wireless Occupancy Sensors Market Outlook, By Lighting Control (2020-2028) ($MN)
93 South America Wireless Occupancy Sensors Market Outlook, By HVAC (2020-2028) ($MN)
94 South America Wireless Occupancy Sensors Market Outlook, By Other Applications (2020-2028) ($MN)
95 South America Wireless Occupancy Sensors Market Outlook, By End User (2020-2028) ($MN)
96 South America Wireless Occupancy Sensors Market Outlook, By Aerospace & Defence (2020-2028) ($MN)
97 South America Wireless Occupancy Sensors Market Outlook, By Healthcare (2020-2028) ($MN)
98 South America Wireless Occupancy Sensors Market Outlook, By Industrial (2020-2028) ($MN)
99 South America Wireless Occupancy Sensors Market Outlook, By Consumer Electronics (2020-2028) ($MN)
100 South America Wireless Occupancy Sensors Market Outlook, By Other End Users (2020-2028) ($MN)
101 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Country (2020-2028) ($MN)
102 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Building Type (2020-2028) ($MN)
103 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Commercial Buildings (2020-2028) ($MN)
104 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Residential Buildings (2020-2028) ($MN)
105 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Type (2020-2028) ($MN)
106 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Dual Technology (PIR and Ultrasonic) (2020-2028) ($MN)
107 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Passive Infrared (2020-2028) ($MN)
108 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Ultrasonic (2020-2028) ($MN)
109 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Other Types (2020-2028) ($MN)
110 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Application (2020-2028) ($MN)
111 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Security Surveillance (2020-2028) ($MN)
112 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Lighting Control (2020-2028) ($MN)
113 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By HVAC (2020-2028) ($MN)
114 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Other Applications (2020-2028) ($MN)
115 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By End User (2020-2028) ($MN)
116 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Aerospace & Defence (2020-2028) ($MN)
117 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Healthcare (2020-2028) ($MN)
118 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Industrial (2020-2028) ($MN)
119 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Consumer Electronics (2020-2028) ($MN)
120 Middle East & Africa Wireless Occupancy Sensors Market Outlook, By Other End Users (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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