Burner Management System (BMS) 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: CR0194595
  • Format: Electronic (PDF)
  • Number of Pages: 184
  • Author(s): Joshi, Madhavi

Report Overview

The Burner Management System (BMS) Market size was estimated at USD 1.52 billion in 2023 and is projected to reach USD 2.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.20% during the forecast period (2024-2030).

Burner Management System (BMS) Market

(Market Size)
$1.52 billion
$2.5 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 7.20%
2023 Market Size USD 1.52 billion
2030 Market Size USD 2.5 billion
Key Players Honeywell, Siemens, ABB, Schneider Electric, Rockwell Automation

Market Summary

The Burner Management System (BMS) market is an integral segment within the energy and power industry, focusing on safety and automation solutions for combustion processes. These systems are designed to manage and monitor the safe start-up, operation, and shutdown of fuel burners in industrial applications, preventing hazardous conditions such as explosions or fires. The market caters to a wide range of sectors including oil and gas, power generation, chemicals, and manufacturing, where reliable and efficient combustion control is critical. The increasing emphasis on operational safety, regulatory compliance, and the need for energy efficiency are key factors influencing the adoption of BMS across various industries. As industrial facilities modernize and upgrade their infrastructure, the demand for advanced burner management systems that integrate with broader plant automation and safety instrumented systems continues to grow. Companies are investing in innovative technologies to enhance system reliability, reduce downtime, and meet stringent environmental and safety standards.

Key Highlights

The Burner Management System market is characterized by several key trends and developments that underscore its importance in industrial operations. A significant highlight is the integration of BMS with advanced distributed control systems and safety instrumented systems, enabling comprehensive plant-wide safety and automation. Leading players such as ABB, Siemens, and Honeywell are at the forefront of developing sophisticated solutions that offer enhanced diagnostics, remote monitoring, and predictive maintenance capabilities. The shift towards digitalization and Industry 4.0 is driving the adoption of smart BMS solutions that leverage IoT connectivity and data analytics for improved performance and safety management. Additionally, the market is witnessing a growing preference for modular and scalable systems that can be customized to meet specific application requirements, providing flexibility and cost-effectiveness for end-users. The emphasis on reducing greenhouse gas emissions and improving fuel efficiency is also propelling innovations in burner management technologies, aligning with global sustainability goals.

Drivers, Opportunities & Restraints

The growth of the Burner Management System market is primarily driven by stringent safety regulations and standards imposed by organizations such as NFPA and IEC, which mandate the implementation of reliable combustion control systems to prevent accidents. Increasing industrialization, particularly in emerging economies, is expanding the installation base of burners in various sectors, thereby boosting the demand for BMS. The rising focus on energy efficiency and the need to optimize fuel consumption are further encouraging the adoption of advanced burner management solutions. Opportunities in the market are abundant, with the ongoing digital transformation in industrial operations opening avenues for smart BMS integrated with AI and machine learning for predictive analytics and autonomous operation. The expansion of the power generation sector, along with investments in renewable energy infrastructure, presents new growth prospects for BMS providers. However, the market faces restraints such as high initial installation and maintenance costs, which can be a barrier for small and medium-sized enterprises. Additionally, the complexity of integrating BMS with legacy systems and the need for skilled personnel to operate and maintain these systems pose challenges to market growth.

Concentration Insights

The Burner Management System market is moderately concentrated, with a few major players holding significant market share due to their extensive product portfolios, technological expertise, and global presence. Companies like ABB Ltd., Siemens AG, Honeywell International Inc., and Emerson Electric Co. dominate the market, offering comprehensive BMS solutions that cater to diverse industrial applications. These established players focus on continuous innovation, strategic partnerships, and acquisitions to strengthen their market position and expand their customer base. The market also includes several regional and specialized manufacturers that provide niche solutions tailored to specific industries or geographic requirements. Competition is intense, with firms competing on factors such as product features, reliability, compliance with safety standards, and after-sales support. The concentration of key players in North America and Europe is notable, but emerging markets in Asia-Pacific and the Middle East are becoming increasingly important due to rapid industrialization and infrastructure development.

Type Insights

Burner Management Systems are categorized based on their design and functionality, with the main types being single burner systems and multiple burner systems. Single burner systems are typically used in applications where individual burners require dedicated control and safety monitoring, such as in small boilers or heaters. These systems are simpler in design and are often cost-effective for less complex operations. Multiple burner systems, on the other hand, are designed to manage several burners simultaneously within a larger unit, such as in utility boilers or industrial furnaces. These systems offer centralized control, advanced sequencing, and integrated safety functions for efficient operation of multiple combustion points. Additionally, BMS can be differentiated based on the technology used, such as programmable logic controller-based systems or dedicated burner controllers. The choice between system types depends on factors like the scale of operation, safety requirements, and the level of automation desired by the end-user.

Application Insights

Burner Management Systems find applications across a wide spectrum of industries where combustion processes are critical to operations. In the power generation sector, BMS are essential for managing burners in boilers to ensure safe and efficient electricity production. The oil and gas industry utilizes these systems in heaters, furnaces, and flares to maintain safe combustion during refining and processing activities. In the chemical and petrochemical sectors, BMS are employed in reactors and heaters to control temperature and prevent hazardous conditions. The manufacturing industry, including metals and ceramics, relies on BMS for precise temperature management in kilns and ovens. Additionally, BMS are used in waste-to-energy plants to manage the combustion of waste materials safely. Each application has unique requirements, driving the need for customized BMS solutions that address specific operational challenges and compliance standards.

Regional Insights

The adoption of Burner Management Systems varies across regions, influenced by industrial activity, regulatory frameworks, and economic development. North America holds a significant share of the market, driven by strict safety regulations, a mature industrial base, and high awareness of combustion safety in sectors like oil and gas and power generation. Europe follows closely, with stringent environmental and safety standards propelling the demand for advanced BMS solutions. The Asia-Pacific region is experiencing rapid growth due to expanding industrialization, increasing energy demand, and investments in infrastructure projects, particularly in countries like China and India. The Middle East and Africa are also emerging as important markets, supported by the robust oil and gas industry and ongoing investments in power generation facilities. Latin America shows steady growth, with developments in the industrial and energy sectors driving BMS adoption. Regional differences in regulatory requirements and industrial focus shape the demand patterns for burner management systems.

Company Insights

Key companies in the Burner Management System market include ABB Ltd., Siemens AG, Honeywell International Inc., Emerson Electric Co., and Schneider Electric SE, among others. ABB is renowned for its comprehensive automation and safety solutions, offering BMS that integrate with its broader control systems. Siemens provides advanced BMS products that emphasize digitalization and connectivity, catering to the evolving needs of modern industries. Honeywell leverages its expertise in process automation and safety systems to deliver reliable BMS solutions with enhanced diagnostic capabilities. Emerson Electric focuses on innovation, offering scalable and efficient burner management technologies that align with industry standards. Schneider Electric emphasizes energy management and sustainability in its BMS offerings. These companies invest heavily in research and development to introduce new features such as cybersecurity enhancements, user-friendly interfaces, and compatibility with renewable energy applications. Their strong global distribution networks and service support further solidify their market presence.

Recent Developments

Recent developments in the Burner Management System market reflect the industry's move towards greater integration, digitalization, and sustainability. Leading players have launched next-generation BMS that incorporate IoT capabilities, enabling real-time monitoring and data analytics for predictive maintenance and operational optimization. There is a growing emphasis on cybersecurity features to protect BMS from cyber threats, especially as systems become more connected. Companies are also developing solutions that support the use of alternative fuels, such as hydrogen and biofuels, in response to the shift towards cleaner energy sources. Strategic acquisitions and partnerships have been common, with firms seeking to enhance their technological capabilities and expand their market reach. For instance, collaborations between BMS providers and automation companies aim to create seamless integration with plant-wide control systems. Additionally, advancements in human-machine interface design are improving operator situational awareness and ease of use, contributing to safer and more efficient combustion management.

Report Segmentation

The Burner Management System market report is segmented to provide detailed analysis across various dimensions. The segmentation by type includes single burner systems and multiple burner systems, each catering to different operational scales and complexities. Application-wise segmentation covers power generation, oil and gas, chemicals, manufacturing, and others, highlighting the diverse industrial uses of BMS. Geographically, the market is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, allowing for regional analysis of trends and opportunities. Further segmentation may consider the technology used, such as PLC-based systems or dedicated controllers, and the level of integration with other automation systems. This structured approach enables a comprehensive understanding of market dynamics, helping stakeholders identify growth areas and make informed decisions based on specific segments of interest.

FAQs

What is a Burner Management System? A Burner Management System is a dedicated safety control system designed to ensure the safe start-up, operation, and shutdown of fuel burners in industrial applications, preventing hazardous conditions like explosions.

Why are Burner Management Systems important? They are critical for maintaining safety in combustion processes, complying with regulatory standards, preventing accidents, and enhancing operational efficiency in industries such as power generation and oil and gas.

What industries use Burner Management Systems? Key industries include power generation, oil and gas, chemicals, manufacturing, and waste-to-energy, where controlled combustion is essential for operations.

How does a Burner Management System work? It works by continuously monitoring burner parameters such as flame presence, fuel pressure, and air flow, and executing predefined sequences to safely start, operate, or shut down the burner based on real-time conditions.

What are the key components of a Burner Management System? Main components include flame detectors, actuators, controllers, safety relays, and human-machine interfaces, all integrated to provide comprehensive combustion management.

What trends are shaping the Burner Management System market? Trends include integration with digital control systems, adoption of IoT for predictive maintenance, focus on cybersecurity, and development of solutions for alternative fuels to support sustainability goals.

Citius Research has developed a research report titled “Burner Management System (BMS) 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

• Burner Management System (BMS) 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 Burner Management System (BMS) 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.

Burner Management System (BMS) Market Segmentation

Market Segmentation

Regions Covered

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

Burner Management System (BMS) Market Analysis

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

• Overview of Burner Management System (BMS) Market
• Research Methodology
• Executive Summary
• Market Dynamics of Burner Management System (BMS) 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 Burner Management System (BMS) Market
• Cost and Gross Margin Analysis of Burner Management System (BMS) Market
• Burner Management System (BMS) 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 “Burner Management System (BMS) 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.

Burner Management System (BMS) Market Key Stakeholders

Below are the key stakeholders for the Burner Management System (BMS) Market:

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

Burner Management System (BMS) 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 Burner Management System (BMS) 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 Burner Management System (BMS) 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 Burner Management System (BMS) 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 Burner Management System (BMS) 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 Burner Management System (BMS) 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 Burner Management System (BMS) 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 Burner Management System (BMS) 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 Burner Management System (BMS) 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 Burner Management System (BMS) 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 Burner Management System (BMS) 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 Burner Management System (BMS) 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 Burner Management System (BMS) 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 Burner Management System (BMS) 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 Burner Management System (BMS) 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 Burner Management System (BMS) 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 Burner Management System (BMS) 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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