Optical Measurement 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: CR0207242
  • Format: Electronic (PDF)
  • Number of Pages: 198
  • Author(s): Joshi, Madhavi

Report Overview

The Optical Measurement Market size was estimated at USD 4.5 billion in 2023 and is projected to reach USD 8 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.00% during the forecast period (2024-2030).

Optical Measurement Market

(Market Size)
$4.5 billion
$8 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 9.00%
2023 Market Size USD 4.5 billion
2030 Market Size USD 8 billion
Key Players Zeiss, Hexagon, Mitutoyo, Keyence, Nikon Metrology

Market Summary

The optical measurement market serves as a critical component within the manufacturing and construction sectors, providing non-contact, high-precision metrology solutions for quality control and assurance. This technology utilizes light and advanced imaging to capture and analyze the physical geometry of objects, enabling accurate dimensional analysis, surface inspection, and reverse engineering. Its adoption is fundamentally transforming traditional inspection processes by offering superior speed and accuracy compared to conventional tactile methods. Industries are increasingly integrating these systems to enhance product quality, reduce scrap rates, and streamline production workflows. The demand is robust across various applications, from verifying the tolerances of machined components in manufacturing to monitoring structural deformations and alignments in large-scale construction projects. The market is characterized by continuous technological evolution, with vendors focusing on developing more automated, user-friendly, and integrated systems that can operate effectively in challenging industrial environments. This makes optical measurement an indispensable tool for modern industrial operations.

Key Highlights

A primary highlight of the optical measurement market is the significant shift towards automation and Industry 4.0 integration. Modern systems are increasingly equipped with capabilities for seamless data transfer to manufacturing execution systems (MES) and enterprise resource planning (ERP) software, enabling real-time process control and data analytics. Another key trend is the advancement in 3D scanning technologies, which offer incredibly high resolution and accuracy for complex surface analysis. Leading companies like Hexagon AB, Carl Zeiss AG, and Keyence Corporation are at the forefront, driving innovation with portable coordinate measuring machines (CMMs) and automated optical inspection (AOI) systems. The technology's versatility is also a major highlight, as it is applicable from micro-scale electronic component inspection to macro-scale measurement of entire aircraft wings or building frameworks. Furthermore, the integration of artificial intelligence and machine learning for defect recognition and predictive analysis is enhancing the value proposition of these systems, making them smarter and more efficient.

Drivers, Opportunities & Restraints

The growth of the optical measurement market is propelled by several powerful drivers. The relentless pursuit of higher quality and precision in manufactured goods across automotive, aerospace, and electronics is a fundamental driver. Strict regulatory standards and the need for comprehensive documentation further compel industries to adopt reliable metrology solutions. The expansion of the construction industry, particularly for large infrastructure projects requiring precise monitoring and as-built verification, also fuels demand. A significant opportunity lies in the proliferation of additive manufacturing (3D printing), which requires robust post-production inspection to validate complex geometries that are difficult to measure with touch probes. The emergence of low-cost sensors and the miniaturization of components present new avenues for market penetration into smaller enterprises and new applications. However, the market faces restraints, including the high initial investment required for advanced systems, which can be a barrier for small and medium-sized enterprises. The need for specialized operator training and the technical challenges associated with measuring reflective or transparent surfaces also pose hurdles to widespread adoption.

Concentration Insights

The competitive landscape of the optical measurement market is moderately concentrated, featuring a mix of well-established multinational corporations and specialized technology providers. A handful of major players, such as Hexagon AB, Nikon Metrology NV, and Carl Zeiss AG, hold a substantial market share due to their extensive product portfolios, strong global distribution networks, and significant investment in research and development. These companies offer comprehensive solutions that range from vision measuring machines to multi-sensor and laser tracking systems. Alongside these giants, there are numerous specialized and regional companies that compete by focusing on niche applications or offering cost-effective alternatives. The market concentration is also influenced by strategic mergers and acquisitions, as larger entities seek to acquire innovative technologies and expand their geographic footprint. This dynamic creates an environment where technological innovation, customer service, and industry-specific expertise are critical differentiators for maintaining a competitive edge.

Type Insights

The optical measurement market is segmented by the type of technology and equipment, each catering to specific measurement needs and accuracy requirements. A major category includes optical comparators and vision measuring machines (VMMs), which are widely used for 2D and 3D measurement of small to medium-sized parts in quality labs. Another prominent type is 3D laser scanners, which use laser light to capture the shape of objects and create detailed point cloud data, ideal for reverse engineering and large-volume inspection. White light scanners offer high-speed, non-contact scanning for capturing intricate details with high accuracy. Autocollimators and theodolites represent specialized types used for precise angle measurement and alignment tasks, particularly in construction and large-scale manufacturing setup. Each technology type has its advantages; for instance, laser scanners excel at capturing free-form surfaces quickly, while video measuring systems provide exceptional accuracy for feature-based inspection. The choice of equipment depends heavily on the application, required precision, part size, and environmental conditions.

Application Insights

Within the manufacturing and construction industries, optical measurement systems find diverse and critical applications. In discrete manufacturing, they are indispensable for quality control and inspection throughout the production process, from incoming raw material verification to final assembly checks. This includes dimensional analysis of machined parts, weld seam inspection, and defect detection on surfaces. In the automotive and aerospace sectors, these systems are used for sheet metal analysis, turbine blade inspection, and composite material verification. The construction industry leverages optical measurement for a different set of applications, primarily focused on large-scale metrology. This includes monitoring structural deformations and settlements of bridges and buildings, verifying the alignment of heavy machinery and structural components, and conducting precise as-built surveys to ensure construction adheres to design specifications. The technology is also crucial in prefabricated construction for ensuring the dimensional accuracy of modules before they are transported to the site.

Regional Insights

The adoption and development of the optical measurement market exhibit distinct regional patterns influenced by industrial maturity and investment. The Asia-Pacific region is a dominant force, driven by its robust manufacturing base, particularly in countries like China, Japan, and South Korea. This region's strong presence in electronics, automotive, and heavy machinery production creates sustained demand for high-precision measurement solutions. North America holds a significant share, characterized by advanced technological adoption in its aerospace, defense, and automotive industries, with strong emphasis on research and development. Europe is another key market, with a strong manufacturing sector, particularly in Germany, Italy, and France, known for its precision engineering and automotive excellence. These regions also have a high concentration of leading market players. Emerging economies in Latin America and the Middle East & Africa are anticipated to show growing potential, fueled by increasing industrialization, infrastructure development, and the gradual modernization of their manufacturing sectors.

Company Insights

The optical measurement market is led by several prominent companies that have established strong reputations for innovation, reliability, and global service. Hexagon AB, through its Manufacturing Intelligence division, is a global leader offering a vast portfolio including coordinate measuring machines, laser trackers, and metrology software. Carl Zeiss Industrial Metrology is renowned for its high-precision solutions, particularly in the automotive and aerospace sectors, with products like multi-sensor CMMs and 3D scanners. Keyence Corporation is a major player known for its innovative vision measurement systems and sensors that emphasize automation and ease of use. Nikon Metrology provides advanced X-ray and CT inspection systems alongside laser radars for large-scale measurement. Other significant contributors include FARO Technologies, which is well-known for its portable arms and laser scanners, and Mitutoyo Corporation, a key supplier of precision measuring instruments and systems. These companies compete intensely on technology, accuracy, software integration, and after-sales support.

Recent Developments

The optical measurement market is witnessing rapid evolution with several noteworthy recent developments. A dominant trend is the deeper integration of artificial intelligence and machine learning algorithms into metrology software. This enhances capabilities for automated defect recognition, pattern analysis, and predictive quality control, reducing human intervention and subjectivity. There is a strong industry push towards enhancing mobility and portability, with companies launching more lightweight, robust, and wireless 3D scanners that can be easily deployed on the shop floor or in the field. Another significant development is the creation of hybrid measurement systems that combine optical sensors with tactile probes or other technologies like computed tomography (CT), providing unparalleled flexibility to measure both internal and external features of a component. Furthermore, software advancements are focusing on cloud connectivity and digital twin creation, allowing measurement data to be seamlessly integrated into the product lifecycle management (PLM) ecosystem for continuous improvement and virtual validation.

Report Segmentation

This comprehensive market research report on the optical measurement market is meticulously segmented to provide a detailed and granular analysis for strategic decision-making. The segmentation is primarily based on type, which categorizes the market into key technology variants such as 3D laser scanners, optical comparators, video measuring machines, autofocus systems, and multisensor systems. The report further breaks down the market by application, highlighting critical uses in quality control & inspection, reverse engineering, alignment, and surface inspection across various industries. A crucial segmentation is by end-user industry, providing dedicated analysis for automotive, aerospace & defense, industrial manufacturing, construction, and energy & power sectors. Furthermore, the report offers a thorough regional analysis, segmenting the global market into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. This multi-dimensional segmentation allows stakeholders to understand specific market dynamics, growth patterns, and opportunities within each distinct segment.

FAQs

What is optical measurement?

Optical measurement is a branch of metrology that uses light-based technologies, such as lasers and cameras, to perform non-contact dimensional analysis and inspection of objects. It captures data on an object's shape, size, and surface characteristics with high precision.

How does optical measurement work?

Optical measurement systems work by projecting a pattern of light onto an object and using one or more cameras to capture the deformation of this pattern. Sophisticated software then triangulates the data from the captured images to calculate precise 3D coordinates, creating a detailed digital representation of the object.

What are the different types of optical measurement systems?

Key types include vision measuring machines (VMMs) for 2D/3D feature measurement, 3D laser scanners for capturing surface geometry, white light scanners for high-resolution scanning, and photogrammetry systems for measuring large objects using multiple photographs.

What are the applications of optical measurement?

Applications are vast and include quality control and inspection in manufacturing, reverse engineering of complex parts, alignment of large machinery, surface defect detection, and monitoring structural health and deformation in construction projects.

What are the advantages of optical measurement?

Primary advantages include non-contact measurement that avoids part damage or distortion, high speed and throughput compared to tactile methods, ability to capture complex free-form surfaces, and the generation of comprehensive full-field data rather than single points.

Which industries use optical measurement?

Major adopting industries are automotive, aerospace, consumer electronics, medical devices, energy, and heavy machinery manufacturing, as well as construction for large-scale metrology and architectural surveying.

Citius Research has developed a research report titled “Optical Measurement 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

• Optical Measurement 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 Optical Measurement 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.

Optical Measurement Market Segmentation

Market Segmentation

Regions Covered

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

Optical Measurement Market Analysis

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

• Overview of Optical Measurement Market
• Research Methodology
• Executive Summary
• Market Dynamics of Optical Measurement 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 Optical Measurement Market
• Cost and Gross Margin Analysis of Optical Measurement Market
• Optical Measurement 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 “Optical Measurement 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.

Optical Measurement Market Key Stakeholders

Below are the key stakeholders for the Optical Measurement Market:

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

Optical Measurement 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 Optical Measurement 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 Optical Measurement 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 Optical Measurement 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 Optical Measurement 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 Optical Measurement 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 Optical Measurement 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 Optical Measurement 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 Optical Measurement 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 Optical Measurement 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 Optical Measurement 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 Optical Measurement 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 Optical Measurement 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 Optical Measurement 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 Optical Measurement 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 Optical Measurement 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 Optical Measurement 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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