Study Period | 2019-2032 |
Base Year | 2023 |
Forcast Year | 2023-2032 |
CAGR | 6.11 |
The GPS Chipset Market size is estimated to grow at a CAGR of 5.12% between 2022 and 2032. The market size is forecast to increase by USD 8,765.32 million. The growth of the market depends on several factors, including the increasing demand for location-based services, the rising adoption of GPS technology in various industries, and the growing popularity of wearable devices and smartwatches. A GPS chipset refers to a hardware component within a device that enables global positioning system (GPS) functionality. It integrates various functions related to GPS positioning, including satellite signal reception, data processing, and location tracking, into a single compact module. The chipset includes a combination of processors, receivers, and other components necessary for accurate GPS positioning. It allows devices like smartphones, tablets, navigation systems, and fitness trackers to determine their precise location and navigate effectively, facilitating a wide range of applications and services.
GPS Chipset Market Overview
Drivers
One of the key factors driving the GPS chipset market growth is the increasing demand for location-based services. Location-based services (LBS) utilize GPS technology to provide real-time information and personalized services based on the user's location. These services are widely used in various industries, including transportation, logistics, healthcare, and retail. The growing popularity of location-based advertising, navigation systems, and asset tracking solutions is fueling the demand for GPS chipsets. Additionally, the integration of GPS technology in smartphones and wearable devices has further boosted the adoption of GPS chipsets, as users increasingly rely on these devices for navigation, fitness tracking, and other location-based applications.
Trends
A key trend shaping the GPS chipset market growth is the integration of advanced features and functionalities in GPS chipsets. Manufacturers are continuously innovating to enhance the performance and capabilities of GPS chipsets. This includes the integration of additional sensors, such as accelerometers and gyroscopes, to improve positioning accuracy and enable features like pedestrian navigation and activity tracking. Furthermore, the integration of wireless connectivity, such as Wi-Fi and Bluetooth, in GPS chipsets allows for seamless data transfer and integration with other devices and services. These advancements in GPS chipsets are driving their adoption in various industries, including automotive, aviation, and outdoor recreation.
Restraints:
One of the key challenges hindering the GPS chipset market growth is the limited accuracy and reliability of GPS signals in certain environments. GPS signals can be affected by various factors, such as tall buildings, dense foliage, and atmospheric conditions, leading to signal interference and reduced positioning accuracy. This can impact the performance of GPS chipsets, especially in urban areas or dense forests. Manufacturers are continuously working on improving the sensitivity and performance of GPS chipsets to overcome these limitations. Additionally, the increasing availability of alternative positioning technologies, such as Galileo and BeiDou, poses a challenge to the widespread adoption of GPS chipsets.
GPS Chipset Market Segmentation By Application
The smartphones and wearable segment is estimated to witness significant growth during the forecast period. GPS chipsets play a crucial role in enabling location-based services and navigation functionalities in smartphones and wearable devices. GPS-enabled smartphones allow users to accurately determine their location, navigate to their desired destinations, and access location-based applications and services. The integration of GPS technology in wearable devices, such as smartwatches and fitness trackers, enables features like activity tracking, route mapping, and location-based notifications. The increasing popularity of smartphones and wearable devices, coupled with the growing demand for location-based services, is driving the adoption of GPS chipsets in this segment.
GPS Chipset Market Segmentation By Type
The GPS chipsets market is segmented based on the type of chipsets. This includes standalone GPS chipsets, integrated GPS chipsets, and assisted GPS (A-GPS) chipsets. Standalone GPS chipsets are designed to operate independently and provide accurate positioning information without relying on external assistance. Integrated GPS chipsets are integrated into other electronic devices, such as smartphones, tablets, and navigation systems, to enable GPS functionality. A-GPS chipsets combine GPS technology with cellular network assistance to improve positioning accuracy and reduce time-to-first-fix. The choice of GPS chipset type depends on the specific application requirements and device design considerations.
North America is estimated to contribute 38% to the growth of the global market during the forecast period. The region has a strong presence of key market players, including Qualcomm Inc., Broadcom Inc., and Texas Instruments Inc., who are actively involved in the development and manufacturing of GPS chipsets. The increasing adoption of GPS technology in various industries, such as automotive, transportation, and logistics, is driving the demand for GPS chipsets in North America. Additionally, the growing popularity of location-based services and the widespread use of smartphones and wearable devices further contribute to the market growth in the region.
In 2020, during the COVID-19 pandemic, the growth of the global GPS chipset market witnessed a temporary slowdown due to disruptions in the supply chain and reduced consumer spending. However, with the gradual easing of restrictions and the resumption of economic activities, the market is expected to recover and witness steady growth during the forecast period.
GPS Chipset Market Customer Landscape
The GPS chipset market industry report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Who are the Major GPS Chipset Market Companies?
Qualcomm: Qualcomm is a major player in the GPS chipset market, offering a range of GPS chipsets for smartphones, automotive navigation, and IoT applications.
Broadcom Inc.: Broadcom, through its Wireless Connectivity division, provides GPS/GNSS chipsets and related solutions for a variety of applications.
u-blox: u-blox is known for its GPS/GNSS modules and chipsets, serving industries like automotive, agriculture, and asset tracking.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Some of the major companies operating in the GPS chipset market include:
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies.
Segment Overview
The GPS chipset market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2019 to 2032.
Table of Contents
United States GPS Chipset Market Report 2017
1 GPS Chipset Overview
1.1 Product Overview and Scope of GPS Chipset
1.2 Classification of GPS Chipset by Product Category
1.2.1 United States GPS Chipset Market Size (Sales Volume) Comparison by Type (2012-2022)
1.2.2 United States GPS Chipset Market Size (Sales Volume) Market Share by Type (Product Category) in 2016
1.2.3 type 1
1.2.4 type 2
1.3 United States GPS Chipset Market by Application/End Users
1.3.1 United States GPS Chipset Market Size (Consumption) and Market Share Comparison by Application (2012-2022)
1.3.2 Portable navigation devices (PND)
1.3.3 Automotive
1.3.4 Consumer electronics
1.3.5 Handheld device
1.3.6 Other applications
1.4 United States GPS Chipset Market by Region
1.4.1 United States GPS Chipset Market Size (Value) Comparison by Region (2012-2022)
1.4.2 The West GPS Chipset Status and Prospect (2012-2022)
1.4.3 Southwest GPS Chipset Status and Prospect (2012-2022)
1.4.4 The Middle Atlantic GPS Chipset Status and Prospect (2012-2022)
1.4.5 New England GPS Chipset Status and Prospect (2012-2022)
1.4.6 The South GPS Chipset Status and Prospect (2012-2022)
1.4.7 The Midwest GPS Chipset Status and Prospect (2012-2022)
1.5 United States Market Size (Value and Volume) of GPS Chipset (2012-2022)
1.5.1 United States GPS Chipset Sales and Growth Rate (2012-2022)
1.5.2 United States GPS Chipset Revenue and Growth Rate (2012-2022)
2 United States GPS Chipset Market Competition by Players/Suppliers
2.1 United States GPS Chipset Sales and Market Share of Key Players/Suppliers (2012-2017)
2.2 United States GPS Chipset Revenue and Share by Players/Suppliers (2012-2017)
2.3 United States GPS Chipset Average Price by Players/Suppliers (2012-2017)
2.4 United States GPS Chipset Market Competitive Situation and Trends
2.4.1 United States GPS Chipset Market Concentration Rate
2.4.2 United States GPS Chipset Market Share of Top 3 and Top 5 Players/Suppliers
2.4.3 Mergers & Acquisitions, Expansion in United States Market
2.5 United States Players/Suppliers GPS Chipset Manufacturing Base Distribution, Sales Area, Product Type
3 United States GPS Chipset Sales (Volume) and Revenue (Value) by Region (2012-2017)
3.1 United States GPS Chipset Sales and Market Share by Region (2012-2017)
3.2 United States GPS Chipset Revenue and Market Share by Region (2012-2017)
3.3 United States GPS Chipset Price by Region (2012-2017)
4 United States GPS Chipset Sales (Volume) and Revenue (Value) by Type (Product Category) (2012-2017)
4.1 United States GPS Chipset Sales and Market Share by Type (Product Category) (2012-2017)
4.2 United States GPS Chipset Revenue and Market Share by Type (2012-2017)
4.3 United States GPS Chipset Price by Type (2012-2017)
4.4 United States GPS Chipset Sales Growth Rate by Type (2012-2017)
5 United States GPS Chipset Sales (Volume) by Application (2012-2017)
5.1 United States GPS Chipset Sales and Market Share by Application (2012-2017)
5.2 United States GPS Chipset Sales Growth Rate by Application (2012-2017)
5.3 Market Drivers and Opportunities
6 United States GPS Chipset Players/Suppliers Profiles and Sales Data
6.1 Qualcomm Technologies International
6.1.1 Company Basic Information, Manufacturing Base and Competitors
6.1.2 GPS Chipset Product Category, Application and Specification
6.1.2.1 Product A
6.1.2.2 Product B
6.1.3 Qualcomm Technologies International GPS Chipset Sales, Revenue, Price and Gross Margin (2012-2017)
6.1.4 Main Business/Business Overview
6.2 u-blox
6.2.2 GPS Chipset Product Category, Application and Specification
6.2.2.1 Product A
6.2.2.2 Product B
6.2.3 u-blox GPS Chipset Sales, Revenue, Price and Gross Margin (2012-2017)
6.2.4 Main Business/Business Overview
6.3 FURUNO
6.3.2 GPS Chipset Product Category, Application and Specification
6.3.2.1 Product A
6.3.2.2 Product B
6.3.3 FURUNO GPS Chipset Sales, Revenue, Price and Gross Margin (2012-2017)
6.3.4 Main Business/Business Overview
6.4 MediaTek
6.4.2 GPS Chipset Product Category, Application and Specification
6.4.2.1 Product A
6.4.2.2 Product B
6.4.3 MediaTek GPS Chipset Sales, Revenue, Price and Gross Margin (2012-2017)
6.4.4 Main Business/Business Overview
6.5 Infineon
6.5.2 GPS Chipset Product Category, Application and Specification
6.5.2.1 Product A
6.5.2.2 Product B
6.5.3 Infineon GPS Chipset Sales, Revenue, Price and Gross Margin (2012-2017)
6.5.4 Main Business/Business Overview
6.6 Maxim Integrated
6.6.2 GPS Chipset Product Category, Application and Specification
6.6.2.1 Product A
6.6.2.2 Product B
6.6.3 Maxim Integrated GPS Chipset Sales, Revenue, Price and Gross Margin (2012-2017)
6.6.4 Main Business/Business Overview
6.7 ST
6.7.2 GPS Chipset Product Category, Application and Specification
6.7.2.1 Product A
6.7.2.2 Product B
6.7.3 ST GPS Chipset Sales, Revenue, Price and Gross Margin (2012-2017)
6.7.4 Main Business/Business Overview
6.8 SkyTraq
6.8.2 GPS Chipset Product Category, Application and Specification
6.8.2.1 Product A
6.8.2.2 Product B
6.8.3 SkyTraq GPS Chipset Sales, Revenue, Price and Gross Margin (2012-2017)
6.8.4 Main Business/Business Overview
6.9 Xi'An Aerospace Huaxun Technology
6.9.2 GPS Chipset Product Category, Application and Specification
6.9.2.1 Product A
6.9.2.2 Product B
6.9.3 Xi'An Aerospace Huaxun Technology GPS Chipset Sales, Revenue, Price and Gross Margin (2012-2017)
6.9.4 Main Business/Business Overview
7 GPS Chipset Manufacturing Cost Analysis
7.1 GPS Chipset Key Raw Materials Analysis
7.1.1 Key Raw Materials
7.1.2 Price Trend of Key Raw Materials
7.1.3 Key Suppliers of Raw Materials
7.1.4 Market Concentration Rate of Raw Materials
7.2 Proportion of Manufacturing Cost Structure
7.2.1 Raw Materials
7.2.2 Labor Cost
7.2.3 Manufacturing Expenses
7.3 Manufacturing Process Analysis of GPS Chipset
8 Industrial Chain, Sourcing Strategy and Downstream Buyers
8.1 GPS Chipset Industrial Chain Analysis
8.2 Upstream Raw Materials Sourcing
8.3 Raw Materials Sources of GPS Chipset Major Manufacturers in 2016
8.4 Downstream Buyers
9 Marketing Strategy Analysis, Distributors/Traders
9.1 Marketing Channel
9.1.1 Direct Marketing
9.1.2 Indirect Marketing
9.1.3 Marketing Channel Development Trend
9.2 Market Positioning
9.2.1 Pricing Strategy
9.2.2 Brand Strategy
9.2.3 Target Client
9.3 Distributors/Traders List
10 Market Effect Factors Analysis
10.1 Technology Progress/Risk
10.1.1 Substitutes Threat
10.1.2 Technology Progress in Related Industry
10.2 Consumer Needs/Customer Preference Change
10.3 Economic/Political Environmental Change
11 United States GPS Chipset Market Size (Value and Volume) Forecast (2017-2022)
11.1 United States GPS Chipset Sales Volume, Revenue Forecast (2017-2022)
11.2 United States GPS Chipset Sales Volume Forecast by Type (2017-2022)
11.3 United States GPS Chipset Sales Volume Forecast by Application (2017-2022)
11.4 United States GPS Chipset Sales Volume Forecast by Region (2017-2022)
12 Research Findings and Conclusion
13 Appendix
13.1 Methodology/Research Approach
13.1.1 Research Programs/Design
13.1.2 Market Size Estimation
13.1.3 Market Breakdown and Data Triangulation
13.2 Data Source
13.2.1 Secondary Sources
13.2.2 Primary Sources
13.3 Disclaimer
List of Tables and Figures
Figure Product Picture of GPS Chipset
Figure United States GPS Chipset Market Size (K Units) by Type (2012-2022)
Figure United States GPS Chipset Sales Volume Market Share by Type (Product Category) in 2016
Figure type 1 Product Picture
Figure type 2 Product Picture
Figure United States GPS Chipset Market Size (K Units) by Application (2012-2022)
Figure United States Sales Market Share of GPS Chipset by Application in 2016
Figure Portable navigation devices (PND) Examples
Table Key Downstream Customer in Portable navigation devices (PND)
Figure Automotive Examples
Table Key Downstream Customer in Automotive
Figure Consumer electronics Examples
Table Key Downstream Customer in Consumer electronics
Figure Handheld device Examples
Table Key Downstream Customer in Handheld device
Figure Other applications Examples
Table Key Downstream Customer in Other applications
Figure United States GPS Chipset Market Size (Million USD) by Region (2012-2022)
Figure The West GPS Chipset Revenue (Million USD) and Growth Rate (2012-2022)
Figure Southwest GPS Chipset Revenue (Million USD) and Growth Rate (2012-2022)
Figure The Middle Atlantic GPS Chipset Revenue (Million USD) and Growth Rate (2012-2022)
Figure New England GPS Chipset Revenue (Million USD) and Growth Rate (2012-2022)
Figure The South of US GPS Chipset Revenue (Million USD) and Growth Rate (2012-2022)
Figure The Midwest GPS Chipset Revenue (Million USD) and Growth Rate (2012-2022)
Figure United States GPS Chipset Sales (K Units) and Growth Rate (2012-2022)
Figure United States GPS Chipset Revenue (Million USD) and Growth Rate (2012-2022)
Figure United States GPS Chipset Market Major Players Product Sales Volume (K Units) (2012-2017)
Table United States GPS Chipset Sales (K Units) of Key Players/Suppliers (2012-2017)
Table United States GPS Chipset Sales Share by Players/Suppliers (2012-2017)
Figure 2016 United States GPS Chipset Sales Share by Players/Suppliers
Figure 2017 United States GPS Chipset Sales Share by Players/Suppliers
Figure United States GPS Chipset Market Major Players Product Revenue (Million USD) (2012-2017)
Table United States GPS Chipset Revenue (Million USD) by Players/Suppliers (2012-2017)
Table United States GPS Chipset Revenue Share by Players/Suppliers (2012-2017)
Figure 2016 United States GPS Chipset Revenue Share by Players/Suppliers
Figure 2017 United States GPS Chipset Revenue Share by Players/Suppliers
Table United States Market GPS Chipset Average Price (USD/Unit) of Key Players/Suppliers (2012-2017)
Figure United States Market GPS Chipset Average Price (USD/Unit) of Key Players/Suppliers in 2016
Figure United States GPS Chipset Market Share of Top 3 Players/Suppliers
Figure United States GPS Chipset Market Share of Top 5 Players/Suppliers
Table United States Players/Suppliers GPS Chipset Manufacturing Base Distribution and Sales Area
Table United States Players/Suppliers GPS Chipset Product Category
Table United States GPS Chipset Sales (K Units) by Region (2012-2017)
Table United States GPS Chipset Sales Share by Region (2012-2017)
Figure United States GPS Chipset Sales Share by Region (2012-2017)
Figure United States GPS Chipset Sales Market Share by Region in 2016
Table United States GPS Chipset Revenue (Million USD) and Market Share by Region (2012-2017)
Table United States GPS Chipset Revenue Share by Region (2012-2017)
Figure United States GPS Chipset Revenue Market Share by Region (2012-2017)
Figure United States GPS Chipset Revenue Market Share by Region in 2016
Table United States GPS Chipset Price (USD/Unit) by Region (2012-2017)
Table United States GPS Chipset Sales (K Units) by Type (2012-2017)
Table United States GPS Chipset Sales Share by Type (2012-2017)
Figure United States GPS Chipset Sales Share by Type (2012-2017)
Figure United States GPS Chipset Sales Market Share by Type in 2016
Table United States GPS Chipset Revenue (Million USD) and Market Share by Type (2012-2017)
Table United States GPS Chipset Revenue Share by Type (2012-2017)
Figure Revenue Market Share of GPS Chipset by Type (2012-2017)
Figure Revenue Market Share of GPS Chipset by Type in 2016
Table United States GPS Chipset Price (USD/Unit) by Types (2012-2017)
Figure United States GPS Chipset Sales Growth Rate by Type (2012-2017)
Table United States GPS Chipset Sales (K Units) by Application (2012-2017)
Table United States GPS Chipset Sales Market Share by Application (2012-2017)
Figure United States GPS Chipset Sales Market Share by Application (2012-2017)
Figure United States GPS Chipset Sales Market Share by Application in 2016
Table United States GPS Chipset Sales Growth Rate by Application (2012-2017)
Figure United States GPS Chipset Sales Growth Rate by Application (2012-2017)
Table Qualcomm Technologies International Basic Information List
Table Qualcomm Technologies International GPS Chipset Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (2012-2017)
Figure Qualcomm Technologies International GPS Chipset Sales Growth Rate (2012-2017)
Figure Qualcomm Technologies International GPS Chipset Sales Market Share in United States (2012-2017)
Figure Qualcomm Technologies International GPS Chipset Revenue Market Share in United States (2012-2017)
Table u-blox Basic Information List
Table u-blox GPS Chipset Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (2012-2017)
Figure u-blox GPS Chipset Sales Growth Rate (2012-2017)
Figure u-blox GPS Chipset Sales Market Share in United States (2012-2017)
Figure u-blox GPS Chipset Revenue Market Share in United States (2012-2017)
Table FURUNO Basic Information List
Table FURUNO GPS Chipset Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (2012-2017)
Figure FURUNO GPS Chipset Sales Growth Rate (2012-2017)
Figure FURUNO GPS Chipset Sales Market Share in United States (2012-2017)
Figure FURUNO GPS Chipset Revenue Market Share in United States (2012-2017)
Table MediaTek Basic Information List
Table MediaTek GPS Chipset Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (2012-2017)
Figure MediaTek GPS Chipset Sales Growth Rate (2012-2017)
Figure MediaTek GPS Chipset Sales Market Share in United States (2012-2017)
Figure MediaTek GPS Chipset Revenue Market Share in United States (2012-2017)
Table Infineon Basic Information List
Table Infineon GPS Chipset Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (2012-2017)
Figure Infineon GPS Chipset Sales Growth Rate (2012-2017)
Figure Infineon GPS Chipset Sales Market Share in United States (2012-2017)
Figure Infineon GPS Chipset Revenue Market Share in United States (2012-2017)
Table Maxim Integrated Basic Information List
Table Maxim Integrated GPS Chipset Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (2012-2017)
Figure Maxim Integrated GPS Chipset Sales Growth Rate (2012-2017)
Figure Maxim Integrated GPS Chipset Sales Market Share in United States (2012-2017)
Figure Maxim Integrated GPS Chipset Revenue Market Share in United States (2012-2017)
Table ST Basic Information List
Table ST GPS Chipset Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (2012-2017)
Figure ST GPS Chipset Sales Growth Rate (2012-2017)
Figure ST GPS Chipset Sales Market Share in United States (2012-2017)
Figure ST GPS Chipset Revenue Market Share in United States (2012-2017)
Table SkyTraq Basic Information List
Table SkyTraq GPS Chipset Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (2012-2017)
Figure SkyTraq GPS Chipset Sales Growth Rate (2012-2017)
Figure SkyTraq GPS Chipset Sales Market Share in United States (2012-2017)
Figure SkyTraq GPS Chipset Revenue Market Share in United States (2012-2017)
Table Xi'An Aerospace Huaxun Technology Basic Information List
Table Xi'An Aerospace Huaxun Technology GPS Chipset Sales (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (2012-2017)
Figure Xi'An Aerospace Huaxun Technology GPS Chipset Sales Growth Rate (2012-2017)
Figure Xi'An Aerospace Huaxun Technology GPS Chipset Sales Market Share in United States (2012-2017)
Figure Xi'An Aerospace Huaxun Technology GPS Chipset Revenue Market Share in United States (2012-2017)
Table Production Base and Market Concentration Rate of Raw Material
Figure Price Trend of Key Raw Materials
Table Key Suppliers of Raw Materials
Figure Manufacturing Cost Structure of GPS Chipset
Figure Manufacturing Process Analysis of GPS Chipset
Figure GPS Chipset Industrial Chain Analysis
Table Raw Materials Sources of GPS Chipset Major Players/Suppliers in 2016
Table Major Buyers of GPS Chipset
Table Distributors/Traders List
Figure United States GPS Chipset Sales Volume (K Units) and Growth Rate Forecast (2017-2022)
Figure United States GPS Chipset Revenue (Million USD) and Growth Rate Forecast (2017-2022)
Figure United States GPS Chipset Price (USD/Unit) Trend Forecast (2017-2022)
Table United States GPS Chipset Sales Volume (K Units) Forecast by Type (2017-2022)
Figure United States GPS Chipset Sales Volume (K Units) Forecast by Type (2017-2022)
Figure United States GPS Chipset Sales Volume (K Units) Forecast by Type in 2022
Table United States GPS Chipset Sales Volume (K Units) Forecast by Application (2017-2022)
Figure United States GPS Chipset Sales Volume (K Units) Forecast by Application (2017-2022)
Figure United States GPS Chipset Sales Volume (K Units) Forecast by Application in 2022
Table United States GPS Chipset Sales Volume (K Units) Forecast by Region (2017-2022)
Table United States GPS Chipset Sales Volume Share Forecast by Region (2017-2022)
Figure United States GPS Chipset Sales Volume Share Forecast by Region (2017-2022)
Figure United States GPS Chipset Sales Volume Share Forecast by Region in 2022
Table Research Programs/Design for This Report
Figure Bottom-up and Top-down Approaches for This Report
Figure Data Triangulation
Table Key Data Information from Secondary Sources
Table Key Data Information from Primary Sources
A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.
Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.
Now let’s take a closer look at the research methods here.
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.
However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.
The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.
Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.
The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.
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