BMI Machine Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2023 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0206846
  • Format: Electronic (PDF)
  • Number of Pages: 190
  • Author(s): Joshi, Madhavi

Report Overview

The BMI Machine Market size was estimated at USD 580 million in 2023 and is projected to reach USD 1.1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 10.00% during the forecast period (2024-2030).

BMI Machine Market

(Market Size)
$580 million
$1.1 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 10.00%
2023 Market Size USD 580 million
2030 Market Size USD 1.1 billion
Key Players Tanita, Omron, Seca, Hologic, GE Healthcare

Market Summary

The BMI machine market is an integral segment within the broader machinery and equipment industry, focusing on devices designed for body mass index measurement and related health metrics. These machines are increasingly utilized across various sectors including healthcare, fitness, and wellness, driven by growing health consciousness and the need for precise body composition analysis. The market encompasses a range of products from basic scales to advanced analytical devices that provide comprehensive data on body fat, muscle mass, and other vital parameters. Technological advancements have significantly enhanced the accuracy and functionality of these machines, making them indispensable tools for professionals and consumers alike. Key players in this market are continuously innovating to integrate smart features such as Bluetooth connectivity, mobile app synchronization, and cloud data storage, which cater to the evolving demands of modern healthcare and fitness environments. The adoption of BMI machines is expanding beyond traditional medical settings into corporate wellness programs, gyms, and even home use, reflecting a broader trend towards preventive healthcare and personalized fitness management. This market is characterized by a competitive landscape with numerous established and emerging companies striving to capture market share through product differentiation and strategic partnerships.

Key Highlights

The BMI machine market is distinguished by several key highlights that underscore its dynamic nature and growth potential. One of the most notable aspects is the integration of advanced technologies such as bioelectrical impedance analysis (BIA), which allows for non-invasive and highly accurate measurements of body composition. This technological edge has enabled manufacturers to develop devices that offer more than just BMI calculations, providing insights into metabolic health, hydration levels, and visceral fat. Another significant highlight is the increasing adoption of these machines in non-traditional settings, including corporate wellness initiatives and home health monitoring, which has broadened the consumer base and driven demand. The market also benefits from rising health awareness and government initiatives promoting obesity prevention and management, which have amplified the need for reliable body composition tools. Furthermore, the competitive environment is marked by continuous innovation, with companies like Tanita, Omron, and InBody leading the way in introducing feature-rich products that cater to diverse user needs. These highlights collectively indicate a market that is not only growing but also evolving in response to technological advancements and shifting consumer preferences.

Drivers, Opportunities & Restraints

The growth of the BMI machine market is propelled by several key drivers, including increasing global health consciousness and the rising prevalence of obesity and related chronic diseases. This has created a substantial demand for effective tools for body composition monitoring, both in clinical and personal settings. Technological advancements, such as the development of smart and connected devices, further drive market expansion by enhancing user experience and data accuracy. Additionally, supportive government policies and healthcare initiatives aimed at promoting preventive care and wellness programs present significant opportunities for market players to expand their reach and application areas.

However, the market also faces certain restraints that could impede growth. High costs associated with advanced BMI machines may limit adoption in price-sensitive regions and among individual consumers. Moreover, accuracy concerns and variability in measurements across different devices can affect user trust and satisfaction. Despite these challenges, opportunities abound in emerging markets where increasing disposable incomes and growing health awareness are expected to fuel demand. The integration of artificial intelligence and machine learning for predictive health analytics represents another promising avenue for innovation and growth, offering potential for new product developments and enhanced functionalities.

Concentration Insights

The BMI machine market exhibits a concentrated competitive landscape with a few dominant players holding significant market share. Companies such as Tanita Corporation, Omron Healthcare, and InBody Co., Ltd. are at the forefront, leveraging their extensive product portfolios and strong brand recognition to maintain leadership positions. These companies have established robust distribution networks and invest heavily in research and development to introduce innovative features and maintain competitive advantage. The market concentration is also influenced by strategic mergers and acquisitions, which allow larger firms to consolidate their market presence and expand into new geographic regions. However, there is a growing presence of smaller and niche players who focus on specific segments, such as portable or low-cost devices, catering to underserved markets. This blend of established giants and agile innovators creates a dynamic environment where competition is based on product quality, technological advancement, and pricing strategies. The concentration insights reveal a market that, while dominated by key players, still offers opportunities for new entrants through specialization and innovation.

Type Insights

BMI machines are categorized into various types based on their technology and functionality, each catering to different user needs and settings. The primary types include traditional weighing scales with BMI calculation capabilities, advanced bioelectrical impedance analysis (BIA) devices, and dual-energy X-ray absorptiometry (DEXA) machines, although DEXA is more common in clinical environments due to its high accuracy and cost. BIA-based devices are particularly popular for their non-invasive nature and ability to provide comprehensive body composition data, including body fat percentage, muscle mass, and water content. These devices range from simple handheld units to sophisticated full-body analyzers, offering versatility for both home and professional use. Another emerging type is the smart BMI scale, which integrates with mobile applications and cloud services to track and analyze health data over time, appealing to tech-savvy consumers and fitness enthusiasts. The diversity in product types allows manufacturers to target specific segments, from healthcare providers requiring clinical-grade accuracy to general consumers seeking convenient health monitoring solutions. This variety ensures that the market can address a wide spectrum of demands, driving overall growth and adoption.

Application Insights

The application of BMI machines spans multiple sectors, reflecting their versatility and growing importance in health and wellness. In healthcare settings, these devices are used for patient assessment, monitoring treatment progress, and managing conditions such as obesity, diabetes, and cardiovascular diseases. They provide critical data that healthcare professionals use to develop personalized treatment plans and track outcomes. In the fitness industry, BMI machines are essential tools for gyms and personal trainers to assess clients' body composition, set fitness goals, and measure progress, thereby enhancing the effectiveness of training programs. Corporate wellness programs increasingly incorporate these devices to promote employee health, reduce healthcare costs, and improve productivity through regular health assessments and incentives. Additionally, home use is a rapidly growing application area, driven by the availability of affordable and user-friendly devices that allow individuals to monitor their health conveniently. Other applications include use in sports academies for athlete performance monitoring and in research institutions for studies related to nutrition and metabolism. The broad range of applications underscores the market's relevance across different environments and user groups, contributing to its sustained growth.

Regional Insights

The BMI machine market demonstrates varying dynamics across different regions, influenced by factors such as healthcare infrastructure, economic development, and cultural attitudes towards health and wellness. North America holds a significant share of the market, driven by high health awareness, advanced healthcare systems, and strong presence of key market players. The region's focus on preventive healthcare and obesity management further supports demand. Europe follows closely, with countries like Germany, the UK, and France showing robust adoption due to well-established healthcare policies and growing fitness trends. The Asia-Pacific region is expected to witness rapid growth, fueled by increasing disposable incomes, rising health consciousness, and expanding healthcare access in emerging economies such as China and India. Latin America and the Middle East & Africa are also emerging as potential markets, though growth may be slower due to economic constraints and less developed healthcare infrastructure. Regional insights highlight the importance of tailoring products and marketing strategies to local needs and conditions, as preferences and adoption rates can vary significantly based on cultural and economic factors.

Company Insights

The competitive landscape of the BMI machine market features several prominent companies that have established strong footholds through innovation, quality, and strategic initiatives. Tanita Corporation is a leading player known for its extensive range of body composition analyzers, which are widely used in medical, fitness, and home settings. The company's focus on accuracy and reliability has earned it a reputable position in the market. Omron Healthcare is another key competitor, recognized for its consumer health products, including BMI monitors that integrate advanced technology and user-friendly designs. InBody Co., Ltd. specializes in BIA-based devices and has gained traction for its precise and comprehensive body composition analysis tools, particularly in professional and clinical environments. Other notable companies include Seca GmbH & Co. KG, which offers a variety of medical measuring systems, and Withings, known for its smart scales that sync with health apps. These companies invest significantly in research and development to introduce new features and maintain competitive edge. Strategic partnerships, mergers, and acquisitions are common as firms seek to expand their product portfolios and geographic reach. The company insights reveal a market where innovation and brand strength are critical for success.

Recent Developments

Recent developments in the BMI machine market highlight ongoing innovation and strategic moves by key players to enhance their market position. There has been a noticeable trend towards the integration of IoT and smart technology, with companies launching devices that offer seamless connectivity with smartphones and health apps for real-time data tracking and analysis. For instance, new product launches include scales with enhanced accuracy algorithms and multi-user profiles, catering to the growing demand for personalized health monitoring. Additionally, partnerships between BMI machine manufacturers and health tech companies have emerged, aiming to combine hardware with software solutions for comprehensive health management platforms. Another significant development is the expansion into emerging markets, where companies are adapting products to local preferences and affordability constraints. Sustainability has also become a focus, with efforts to use eco-friendly materials and reduce the environmental impact of products. These developments reflect the market's responsiveness to technological trends and consumer demands, ensuring continued growth and evolution.

Report Segmentation

The BMI machine market report is segmented based on several criteria to provide a detailed and comprehensive analysis. The segmentation by type includes categories such as traditional BMI scales, bioelectrical impedance analysis devices, and smart scales, each examined for their market share and growth prospects. Application segmentation covers healthcare, fitness and sports, corporate wellness, and home use, highlighting the diverse usage scenarios and demand drivers for each segment. Geographical segmentation breaks down the market into regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa, offering insights into regional trends and opportunities. Additionally, the report may segment by distribution channel, including online and offline sales, to understand purchasing behaviors and market reach. Each segmentation provides valuable insights into specific aspects of the market, enabling stakeholders to identify growth areas, tailor strategies, and make informed decisions. This structured approach ensures that the report addresses the multifaceted nature of the market and its various influencing factors.

FAQs

What is a BMI machine used for? A BMI machine is used to measure body mass index and often additional body composition metrics such as body fat percentage, muscle mass, and water content. It is utilized in healthcare, fitness, and personal settings for health assessment and monitoring.

How does a BMI machine work? Most BMI machines use bioelectrical impedance analysis (BIA), which sends a low-level electrical current through the body to measure resistance and estimate body composition based on the conductivity of different tissues.

Are BMI machines accurate? The accuracy of BMI machines can vary based on technology and quality. Advanced devices, particularly those used in clinical settings, tend to be more accurate, while consumer-grade devices may have slight variances but are generally reliable for trend tracking.

Can BMI machines be used at home? Yes, there are many BMI machines designed for home use, ranging from simple scales to smart devices that sync with apps for tracking health data over time.

What are the benefits of using a BMI machine? Benefits include convenient monitoring of body composition, helping users track fitness progress, manage weight, and identify potential health issues related to obesity or muscle loss.

Which companies are leading in the BMI machine market? Leading companies include Tanita Corporation, Omron Healthcare, InBody Co., Ltd., Seca GmbH & Co. KG, and Withings, known for their innovative and reliable products.

Citius Research has developed a research report titled “BMI Machine Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• BMI Machine Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The BMI Machine Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

BMI Machine Market Segmentation

Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

BMI Machine Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of BMI Machine Market
• Research Methodology
• Executive Summary
• Market Dynamics of BMI Machine Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of BMI Machine Market
• Cost and Gross Margin Analysis of BMI Machine Market
• BMI Machine Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “BMI Machine Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

BMI Machine Market Key Stakeholders

Below are the key stakeholders for the BMI Machine Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

BMI Machine Market Report Scope

Report AttributeDetails
Base year2023
Historical data2018 – 2023
Forecast2024 - 2030
CAGR2024 - 2030
Quantitative UnitsValue (USD Million)
Report coverageRevenue Forecast, Competitive Landscape, Growth Factors, Trends and Strategies. Customized report options available on request
Segments coveredProduct type, technology, application, geography
Regions coveredNorth America, Latin America, Europe, MENA, Asia Pacific, Sub-Saharan Africa and Australasia
Countries coveredUS, UK, China, Japan, Germany, India, France, Brazil, Italy, Canada, Russia, South Korea, Australia, Spain, Mexico and others
Customization scopeAvailable on request
PricingVarious purchase options available as per your research needs. Discounts available on request

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the BMI Machine Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the BMI Machine Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in BMI Machine Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Customize This Report

Frequently Asked Questions

The Global BMI Machine Market size was valued at $XX billion in 2023 and is anticipated to reach $XX billion by 2030 growing at a CAGR of XX%
The global BMI Machine Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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Table of Contents

Chapter 1. Introduction
  1.1. Market Scope
  1.2. Key Segmentations
  1.3. Research Objective
Chapter 2. Research Methodology & Assumptions
Chapter 3. Executive Summary
Chapter 4. Market Background
  4.1. Dynamics
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunity
    4.1.4. Challenges
  4.2. Key Trends in the Impacting the Market
    4.2.1. Demand & Supply
  4.3. Industry SWOT Analysis
  4.4. Porter’s Five Forces Analysis
  4.5. Value and Supply Chain Analysis
  4.6. Macro-Economic Factors
  4.7. COVID-19 Impact Analysis
    4.7.1. Global and Regional Assessment
  4.8. Profit Margin Analysis
  4.9. Trade Analysis
    4.9.1. Importing Countries
    4.9.2. Exporting Countries
  4.10. Market Entry Strategies
  4.11. Market Assessment (US$ Mn and Units)
Chapter 5. Global BMI Machine Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment A
  5.1. By Segment A, 2024 - 2030
    5.1.1. Sub-Segment A
    5.1.2. Sub-Segment B
  5.2. Opportunity Analysis
Chapter 6. Global BMI Machine Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment B
  6.1. By Segment B, 2024 - 2030
    6.1.1. Sub-Segment A
    6.1.2. Sub-Segment B
  6.2. Opportunity Analysis
Chapter 7. Global BMI Machine Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment C
  7.1. By Segment C, 2024 - 2030
    7.1.1. Sub-Segment A
    7.1.2. Sub-Segment B
  7.2. Opportunity Analysis
Chapter 8. Global BMI Machine Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Region
  8.1. By Region, 2024 - 2030
    8.1.1. North America
    8.1.2. Latin America
    8.1.3. Europe
    8.1.4. MENA
    8.1.5. Asia Pacific
    8.1.6. Sub-Saharan Africa
    8.1.7. Australasia
  8.2. Opportunity Analysis
Chapter 9. North America BMI Machine Market Forecast and Trend Analysis
  9.1. Regional Overview
  9.2. Pricing Analysis
  9.3. Key Trends in the Region
    9.3.1. Supply and Demand
  9.4. Demographic Structure
  9.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    9.5.1. Sub-Segment A
    9.5.2. Sub-Segment B
  9.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    9.6.1. Sub-Segment A
    9.6.2. Sub-Segment B
  9.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    9.7.1. Sub-Segment A
    9.7.2. Sub-Segment B
  9.8. By Country, 2024 - 2030, (US$ Mn and Units)
    9.8.1. U.S.
    9.8.2. Canada
    9.8.3. Rest of North America
  9.9. Opportunity Analysis
Chapter 10. Latin America BMI Machine Market Forecast and Trend Analysis
  10.1. Regional Overview
  10.2. Pricing Analysis
  10.3. Key Trends in the Region
    10.3.1. Supply and Demand
  10.4. Demographic Structure
  10.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    10.5.1. Sub-Segment A
    10.5.2. Sub-Segment B
  10.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    10.6.1. Sub-Segment A
    10.6.2. Sub-Segment B
  10.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    10.7.1. Sub-Segment A
    10.7.2. Sub-Segment B
  10.8. By Country, 2024 - 2030, (US$ Mn and Units)
    10.8.1. Brazil
    10.8.2. Argentina
    10.8.3. Rest of Latin America
  10.9. Opportunity Analysis
Chapter 11. Europe BMI Machine Market Forecast and Trend Analysis
  11.1. Regional Overview
  11.2. Pricing Analysis
  11.3. Key Trends in the Region
    11.3.1. Supply and Demand
  11.4. Demographic Structure
  11.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    11.5.1. Sub-Segment A
    11.5.2. Sub-Segment B
  11.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    11.6.1. Sub-Segment A
    11.6.2. Sub-Segment B
  11.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    11.7.1. Sub-Segment A
    11.7.2. Sub-Segment B
  11.8. By Country, 2024 - 2030, (US$ Mn and Units)
    11.8.1. UK
    11.8.2. Germany
    11.8.3. France
    11.8.4. Spain
    11.8.5. Rest of Europe
  11.9. Opportunity Analysis
Chapter 12. MENA BMI Machine Market Forecast and Trend Analysis
  12.1. Regional Overview
  12.2. Pricing Analysis
  12.3. Key Trends in the Region
    12.3.1. Supply and Demand
  12.4. Demographic Structure
  12.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    12.5.1. Sub-Segment A
    12.5.2. Sub-Segment B
  12.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    12.6.1. Sub-Segment A
    12.6.2. Sub-Segment B
  12.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    12.7.1. Sub-Segment A
    12.7.2. Sub-Segment B
  12.8. By Country, 2024 - 2030, (US$ Mn and Units)
    12.8.1. Egypt
    12.8.2. Algeria
    12.8.3. GCC
    12.8.4. Rest of MENA
  12.9. Opportunity Analysis
Chapter 13. Asia Pacific BMI Machine Market Forecast and Trend Analysis
  13.1. Regional Overview
  13.2. Pricing Analysis
  13.3. Key Trends in the Region
    13.3.1. Supply and Demand
  13.4. Demographic Structure
  13.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    13.5.1. Sub-Segment A
    13.5.2. Sub-Segment B
  13.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    13.6.1. Sub-Segment A
    13.6.2. Sub-Segment B
  13.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    13.7.1. Sub-Segment A
    13.7.2. Sub-Segment B
  13.8. By Country, 2024 - 2030, (US$ Mn and Units)
    13.8.1. India
    13.8.2. China
    13.8.3. Japan
    13.8.4. ASEAN
    13.8.5. Rest of Asia Pacific
  13.9. Opportunity Analysis
Chapter 14. Sub-Saharan Africa BMI Machine Market Forecast and Trend Analysis
  14.1. Regional Overview
  14.2. Pricing Analysis
  14.3. Key Trends in the Region
    14.3.1. Supply and Demand
  14.4. Demographic Structure
  14.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    14.5.1. Sub-Segment A
    14.5.2. Sub-Segment B
  14.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    14.6.1. Sub-Segment A
    14.6.2. Sub-Segment B
  14.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    14.7.1. Sub-Segment A
    14.7.2. Sub-Segment B
  14.8. By Country, 2024 - 2030, (US$ Mn and Units)
    14.8.1. Ethiopia
    14.8.2. Nigeria
    14.8.3. Rest of Sub-Saharan Africa
  14.9. Opportunity Analysis
Chapter 15. Australasia BMI Machine Market Forecast and Trend Analysis
  15.1. Regional Overview
  15.2. Pricing Analysis
  15.3. Key Trends in the Region
    15.3.1. Supply and Demand
  15.4. Demographic Structure
  15.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    15.5.1. Sub-Segment A
    15.5.2. Sub-Segment B
  15.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    15.6.1. Sub-Segment A
    15.6.2. Sub-Segment B
  15.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    15.7.1. Sub-Segment A
    15.7.2. Sub-Segment B
  15.8. By Country, 2024 - 2030, (US$ Mn and Units)
    15.8.1. Australia
    15.8.2. New Zealand
    15.8.3. Rest of Australasia
  15.9. Opportunity Analysis
Chapter 16. Competition Analysis
  16.1. Competitive Benchmarking
    16.1.1. Top Player’s Market Share
    16.1.2. Price and Product Comparison
  16.2. Company Profiles
    16.2.1. Company A
      16.2.1.1. Company Overview
      16.2.1.2. Segmental Revenue
      16.2.1.3. Product Portfolio
      16.2.1.4. Key Developments
      16.2.1.5. Strategic Outlook
    16.2.2. Company B
      16.2.2.1. Company Overview
      16.2.2.2. Segmental Revenue
      16.2.2.3. Product Portfolio
      16.2.2.4. Key Developments
      16.2.2.5. Strategic Outlook
    16.2.3. Company C
      16.2.3.1. Company Overview
      16.2.3.2. Segmental Revenue
      16.2.3.3. Product Portfolio
      16.2.3.4. Key Developments
      16.2.3.5. Strategic Outlook
    16.2.4. Company D
      16.2.4.1. Company Overview
      16.2.4.2. Segmental Revenue
      16.2.4.3. Product Portfolio
      16.2.4.4. Key Developments
      16.2.4.5. Strategic Outlook
    16.2.5. Company E
      16.2.5.1. Company Overview
      16.2.5.2. Segmental Revenue
      16.2.5.3. Product Portfolio
      16.2.5.4. Key Developments
      16.2.5.5. Strategic Outlook
    16.2.6. Company F
      16.2.6.1. Company Overview
      16.2.6.2. Segmental Revenue
      16.2.6.3. Product Portfolio
      16.2.6.4. Key Developments
      16.2.6.5. Strategic Outlook
    16.2.7. Company G
      16.2.7.1. Company Overview
      16.2.7.2. Segmental Revenue
      16.2.7.3. Product Portfolio
      16.2.7.4. Key Developments
      16.2.7.5. Strategic Outlook
    16.2.8. Company H
      16.2.8.1. Company Overview
      16.2.8.2. Segmental Revenue
      16.2.8.3. Product Portfolio
      16.2.8.4. Key Developments
      16.2.8.5. Strategic Outlook
    16.2.9. Company I
      16.2.9.1. Company Overview
      16.2.9.2. Segmental Revenue
      16.2.9.3. Product Portfolio
      16.2.9.4. Key Developments
      16.2.9.5. Strategic Outlook
    16.2.10. Company J
      16.2.10.1. Company Overview
      16.2.10.2. Segmental Revenue
      16.2.10.3. Product Portfolio
      16.2.10.4. Key Developments
      16.2.10.5. Strategic Outlook
Chapter 17. Go-To-Market Strategy

Research Methodology

We follow a robust research methodology to analyze the market in order to provide our clients with qualitative and quantitative analysis which has a very low or negligible deviance. Extensive secondary research supported by primary data collection methods help us to thoroughly understand and gauge the market. We incorporate both top-down and bottom-up approach for estimating the market. The below mentioned methods are then adopted to triangulate and validate the market.

Secondary data collection and interpretation

Secondary research includes sources such as published books, articles in journals, news media and published businesses, government and international body publications, and associations. Sources also include paid databases such as Hoovers, Thomson Reuters, Passport and others. Data derived through secondary sources is further validated through primary sources. The secondary sources also include major manufacturers mapped on the basis of revenues, product portfolios, and sales channels.

Primary data collection

Primary data collection methods include conducting interviews with industry experts and various stakeholders across the supply chain, such as raw material suppliers, manufacturers, product distributors and customers. The interviews are either telephonic or face-to-face, or even a combination of both. Prevailing trends in the industry are gathered by conducting surveys. Primary interviews also help us to understand the market drivers, restraints and opportunities, along with the challenges in the market. This method helps us in validating the data gathered through secondary sources, further triangulating the data and developing it through our statistical tools. We generally conduct interviews with -

  • CEOs, Directors, and VPs
  • Sales and Marketing Managers
  • Plant Heads and Manufacturing Department Heads
  • Product Specialists

Supply Side and Demand Side Data Collection

Supply side analysis is based on the data collected from the manufacturers and the product providers in terms of their segmental revenues. Secondary sources for this type of analysis include company annual reports and publications, associations and organisations, government publications and others.

Demand side analysis is based upon the consumer insights who are the end users of the particular product in question. They could be an individual user or an organisation. Such data is gathered through consumer surveys and focused group interviews.

Market Engineering

As a primary step, in order to develop the market numbers we follow a vigorous methodology that includes studying the parent market of the niche product and understanding the industry trends, acceptance among customers of the product, challenges, future growth, and others, followed by further breaking down the market under consideration into various segments and sub-markets. Additionally, in order to cross-validate the market, we also determine the top players in the market, along with their segmental revenues for the said market. Our secondary sources help us to validate the market share of the top players. Using both the qualitative and quantitative analysis of all the possible factors helps us determine the market numbers which are inclined towards accuracy.

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