Optical Measuring Systems 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: CR0207779
  • Format: Electronic (PDF)
  • Number of Pages: 175
  • Author(s): Joshi, Madhavi

Report Overview

The Optical Measuring Systems Market size was estimated at USD 3.5 billion in 2023 and is projected to reach USD 6.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.50% during the forecast period (2024-2030).

Optical Measuring Systems Market

(Market Size)
$3.5 billion
$6.5 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 9.50%
2023 Market Size USD 3.5 billion
2030 Market Size USD 6.5 billion
Key Players Zeiss, Hexagon, Keyence, Mitutoyo, Nikon Metrology

Market Summary

The optical measuring systems market is a critical segment within the manufacturing and construction industries, providing advanced non-contact metrology solutions for precision measurement and quality control. These systems utilize technologies such as laser scanners, vision systems, and interferometers to capture high-accuracy dimensional data of components, assemblies, and structures. The demand is driven by the need for stringent quality assurance, reduction in production errors, and enhancement of operational efficiency across various industrial applications. Companies are increasingly adopting these systems to ensure compliance with international standards and to maintain competitive advantage through improved product quality. The market is characterized by continuous technological innovations, including the integration of artificial intelligence and automation, which further expand the capabilities and applications of optical measurement. Key players are focusing on developing versatile and user-friendly systems that cater to the evolving needs of modern manufacturing and construction projects.

Key Highlights

The optical measuring systems market showcases several key highlights that underscore its importance and growth trajectory. A prominent trend is the shift towards automation and industry 4.0, where optical measurement devices are integrated into smart manufacturing environments for real-time monitoring and data analytics. These systems offer unparalleled accuracy, often down to the micron level, enabling detection of minute defects and ensuring adherence to design specifications. Another significant aspect is the versatility of applications, ranging from small component inspection in electronics to large-scale structural assessment in construction. The adoption of 3D optical scanning technology has revolutionized reverse engineering and quality control processes, allowing for digital twins and comprehensive dimensional analysis. Additionally, the market is witnessing increased investment in research and development to enhance system portability, speed, and software capabilities, making advanced metrology accessible to a broader range of industries and users.

Drivers, Opportunities & Restraints

The growth of the optical measuring systems market is propelled by several drivers, including the escalating demand for high-precision manufacturing and the necessity for quality inspection in complex production processes. Industries such as automotive, aerospace, and electronics rely heavily on these systems to minimize defects and ensure product reliability, thereby reducing waste and costs. The expansion of the construction sector also contributes, as optical tools are used for surveying, monitoring structural integrity, and verifying architectural designs. Opportunities abound in the integration of IoT and cloud computing, enabling remote monitoring and data sharing, which enhances collaborative projects and decision-making. Emerging economies present significant growth potential due to industrialization and infrastructure development. However, the market faces restraints such as the high initial investment required for advanced optical measuring systems, which can be a barrier for small and medium-sized enterprises. Additionally, the need for skilled operators and technical expertise to interpret complex data may limit adoption in some regions. Despite these challenges, ongoing technological advancements are gradually reducing costs and improving user-friendliness.

Concentration Insights

The optical measuring systems market exhibits a concentrated landscape with a mix of established multinational corporations and specialized technology providers dominating the industry. Companies like Hexagon AB, Carl Zeiss AG, and Nikon Corporation hold significant market shares due to their extensive product portfolios, global presence, and strong research and development capabilities. These leaders focus on innovation, frequently introducing new products with enhanced features such as higher accuracy, faster processing speeds, and improved software integration. The market also includes numerous niche players that cater to specific applications or regions, offering customized solutions. Concentration is particularly high in regions with advanced manufacturing sectors, such as North America and Europe, where demand for precision measurement is robust. However, competition is intensifying as new entrants from Asia-Pacific, particularly China and Japan, expand their offerings, leveraging cost advantages and technological advancements. Strategic partnerships, mergers, and acquisitions are common as companies seek to broaden their technological expertise and geographic reach.

Type Insights

Optical measuring systems are categorized into various types, each designed for specific applications and offering distinct advantages. Vision measuring systems are widely used for high-precision 2D and 3D measurements of small components, commonly employed in electronics and medical device manufacturing. Laser scanners provide rapid and accurate 3D data capture for large objects and are instrumental in automotive and aerospace industries for quality control and reverse engineering. Interferometers are utilized for ultra-precise measurements of surface flatness, thickness, and optical components, making them essential in optics and semiconductor manufacturing. Additionally, photogrammetry systems use multiple cameras to measure large-scale structures, such as in construction and civil engineering, offering non-contact and efficient surveying solutions. Each type leverages advanced optics, sensors, and software to deliver reliable data, with ongoing innovations focusing on improving resolution, speed, and integration with other digital tools like CAD and BIM systems.

Application Insights

Optical measuring systems find diverse applications across the manufacturing and construction industries, enhancing quality assurance and operational efficiency. In manufacturing, they are pivotal for quality control, inspecting parts for dimensional accuracy, surface defects, and assembly verification in sectors like automotive, aerospace, and consumer goods. Reverse engineering is another critical application, where these systems digitize physical objects to create CAD models for replication or improvement. In the construction industry, optical measuring tools are used for building information modeling (BIM), structural health monitoring, and as-built verification, ensuring that projects adhere to design specifications and safety standards. Additionally, these systems support research and development activities by providing precise measurements for prototyping and testing. The versatility of optical measuring systems allows them to address a wide range of needs, from micro-scale components in electronics to macro-scale infrastructures, driving their adoption across various verticals.

Regional Insights

The adoption of optical measuring systems varies significantly across regions, influenced by industrialization levels, technological advancement, and industry demands. North America and Europe are mature markets, characterized by high penetration in automotive, aerospace, and precision engineering sectors, driven by stringent quality standards and a strong focus on innovation. The Asia-Pacific region is experiencing rapid growth, fueled by expanding manufacturing activities in countries like China, Japan, and South Korea, alongside increasing investments in infrastructure development. This region benefits from cost-effective manufacturing and rising adoption of automation technologies. Latin America and the Middle East & Africa are emerging markets, where growth is spurred by industrialization initiatives and construction projects, though adoption rates are slower due to economic variability and infrastructure challenges. Overall, regional dynamics are shaped by economic conditions, industrial policies, and the availability of technical expertise, with global players tailoring strategies to address local needs.

Company Insights

Leading companies in the optical measuring systems market include Hexagon AB, Carl Zeiss AG, Nikon Corporation, Keyence Corporation, and Mitutoyo Corporation, among others. These firms are renowned for their comprehensive product lines, which encompass a variety of optical measurement technologies such as coordinate measuring machines (CMMs), vision systems, and laser scanners. Hexagon AB, for instance, offers a range of solutions under brands like Leica Geosystems and ROMER, focusing on metrology and geospatial applications. Carl Zeiss AG emphasizes high-precision optics and industrial metrology, catering to industries like automotive and semiconductors. Nikon Corporation leverages its expertise in imaging to provide advanced instruments for measurement and inspection. These companies invest heavily in research and development to introduce innovations such as automated systems, enhanced software algorithms, and integration with Industry 4.0 platforms. Their strategies often include global expansion, partnerships, and acquisitions to strengthen market position and address evolving customer requirements.

Recent Developments

Recent developments in the optical measuring systems market highlight a trend towards greater automation, software enhancement, and expansion into new application areas. Companies are launching advanced products with improved accuracy, faster measurement speeds, and better user interfaces. For example, there have been introductions of portable 3D scanners that offer high precision for on-site measurements in construction and large-scale manufacturing. Integration with artificial intelligence and machine learning is becoming more prevalent, enabling predictive maintenance and automated defect detection. Additionally, collaborations between optical measurement providers and software companies are resulting in more seamless data integration with PLM and ERP systems. The market is also seeing increased focus on sustainability, with developments aimed at reducing energy consumption and material waste through precise measurement. These advancements are making optical measuring systems more accessible and effective, driving adoption across a broader range of industries and applications.

Report Segmentation

The optical measuring systems market report is segmented based on type, application, end-user industry, and region to provide a detailed analysis of market dynamics and opportunities. By type, segments include vision measuring systems, laser scanners, interferometers, photogrammetry systems, and others, each catering to specific measurement needs and precision requirements. Application segmentation covers quality control & inspection, reverse engineering, surveying & mapping, and others, reflecting the diverse uses across industries. End-user industry segmentation encompasses automotive, aerospace & defense, construction, electronics, medical devices, and others, highlighting the sectors that drive demand. Geographically, the market is divided into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa, allowing for regional performance analysis. This comprehensive segmentation enables stakeholders to identify growth areas, understand competitive landscapes, and make informed decisions based on specific market parameters and trends.

FAQs

What is an optical measuring system? An optical measuring system is a non-contact metrology device that uses light-based technologies, such as lasers or cameras, to capture precise dimensional data of objects for inspection, quality control, and reverse engineering purposes.

How does an optical measuring system work? It works by projecting light onto an object and capturing the reflected or transmitted light with sensors, then using software to analyze the data and generate accurate measurements of dimensions, shapes, and surfaces.

What are the advantages of optical measuring systems? Advantages include high accuracy, non-contact measurement that avoids part damage, rapid data acquisition, capability to measure complex geometries, and integration with digital tools for enhanced analysis.

Which industries use optical measuring systems? Industries such as automotive, aerospace, electronics, construction, medical devices, and consumer goods use these systems for applications like quality assurance, reverse engineering, and structural monitoring.

What types of optical measuring systems are available? Common types include vision measuring systems, laser scanners, interferometers, and photogrammetry systems, each suited for different measurement tasks and?? requirements.

How to choose the right optical measuring system? Selection depends on factors like measurement accuracy needed, object size, application requirements, budget, and ease of integration with existing workflows, often requiring consultation with experts.

Citius Research has developed a research report titled “Optical Measuring Systems 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 Measuring Systems 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 Measuring Systems 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 Measuring Systems Market Segmentation

Market Segmentation

Regions Covered

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

Optical Measuring Systems Market Analysis

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

• Overview of Optical Measuring Systems Market
• Research Methodology
• Executive Summary
• Market Dynamics of Optical Measuring Systems 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 Measuring Systems Market
• Cost and Gross Margin Analysis of Optical Measuring Systems Market
• Optical Measuring Systems 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 Measuring Systems 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 Measuring Systems Market Key Stakeholders

Below are the key stakeholders for the Optical Measuring Systems Market:

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

Optical Measuring Systems 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 Measuring Systems 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 Measuring Systems 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 Measuring Systems 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 Measuring Systems 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 Measuring Systems Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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For further details request a free sample copy of this report here.
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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 Measuring Systems 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 Measuring Systems 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 Measuring Systems 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 Measuring Systems 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 Measuring Systems 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 Measuring Systems 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 Measuring Systems 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 Measuring Systems 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 Measuring Systems 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 Measuring Systems 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 Measuring Systems 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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