Viola String 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: CR0209423
  • Format: Electronic (PDF)
  • Number of Pages: 206
  • Author(s): Joshi, Madhavi

Report Overview

The Viola String Market size was estimated at USD 85 million in 2023 and is projected to reach USD 180 million by 2030, exhibiting a compound annual growth rate (CAGR) of 11.50% during the forecast period (2024-2030).

Viola String Market

(Market Size)
$85 million
$180 million
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 11.50%
2023 Market Size USD 85 million
2030 Market Size USD 180 million
Key Players D'Addario, Thomastik, Pirastro, Larsen, Jargar

Market Summary

The viola string market is a specialized segment within the broader musical instrument accessories industry, catering primarily to professional musicians, students, educational institutions, and enthusiasts. Viola strings are critical components that significantly influence the instrument's tone, playability, and overall performance. The market is characterized by a blend of traditional craftsmanship and modern technological advancements, with manufacturers continuously innovating to meet the evolving demands of violists. Key materials used in production include synthetic cores, steel, and gut, each offering distinct acoustic properties. The demand for high-quality strings is driven by the growing number of viola players worldwide, increased participation in orchestras and chamber music, and rising interest in classical music education. Additionally, the market benefits from the proliferation of online retail channels, which have made premium strings more accessible to a global audience. Despite being a niche market, it remains highly competitive, with several established brands and emerging players vying for market share through product differentiation, quality assurance, and strategic partnerships with artists and institutions.

Key Highlights

The viola string market is distinguished by several key factors that underscore its dynamic nature and growth potential. One notable highlight is the increasing adoption of synthetic core strings, which offer a balance between the warm tone of gut strings and the durability and stability of steel strings. This innovation has gained popularity among professional violists seeking consistent performance across varying climatic conditions. Another significant trend is the emphasis on artist endorsements and collaborations, where leading string manufacturers partner with renowned violists to develop signature series strings, thereby enhancing brand credibility and consumer trust. The market also sees a growing focus on sustainability, with companies exploring eco-friendly materials and production processes to appeal to environmentally conscious musicians. Furthermore, the expansion of e-commerce platforms has revolutionized distribution, enabling manufacturers to reach a broader customer base and offer personalized purchasing experiences. These highlights collectively contribute to a market that is both tradition-rich and forward-looking, with continuous advancements shaping its trajectory.

Drivers, Opportunities & Restraints

Several drivers propel the growth of the viola string market, including the rising number of music education programs and initiatives that encourage string instrument learning from a young age. This educational push fosters a steady stream of new viola players, thereby sustaining demand for strings. Additionally, the increasing popularity of chamber music and orchestral performances globally amplifies the need for high-quality strings among professional musicians. Opportunities abound in the market, particularly through technological innovations such as the development of strings with enhanced longevity and improved tonal qualities. The growing trend of custom-made and specialty strings presents another avenue for growth, allowing manufacturers to cater to niche segments and specific artistic preferences. However, the market faces certain restraints, including the high cost of premium strings, which may limit accessibility for amateur and student musicians. Economic fluctuations and reduced discretionary spending during downturns can also impact sales. Moreover, competition from lower-cost alternatives and counterfeit products poses challenges to established brands, necessitating robust quality control and brand protection measures.

Concentration Insights

The viola string market exhibits a moderate level of concentration, with a few key players holding significant market share due to their longstanding reputation, extensive product portfolios, and strong distribution networks. Prominent companies such as Larsen Strings, Pirastro, Thomastik-Infeld, and D'Addario dominate the landscape, leveraging their expertise in string manufacturing and deep industry connections. These industry leaders often set trends and standards, influencing consumer preferences and competitive dynamics. However, the market also accommodates several smaller and regional manufacturers that cater to specific demographics or offer specialized products, thereby adding diversity to the competitive environment. The concentration is further influenced by geographic factors, with European and North American companies traditionally leading in innovation and market presence. Nonetheless, emerging players from Asia are gradually gaining traction by offering cost-effective alternatives without compromising on quality. This blend of established giants and agile newcomers creates a competitive yet collaborative market atmosphere, driving continuous improvement and innovation.

Type Insights

Viola strings are categorized based on their core materials, each type offering distinct characteristics that appeal to different segments of musicians. Synthetic core strings, such as those made from perlon or other composite materials, are highly favored for their warm, complex tone and stability, making them a popular choice among professional violists. These strings effectively mimic the sound of traditional gut strings while providing greater resistance to humidity and temperature changes. Steel core strings are another prominent type, known for their bright, focused sound, quick response, and durability. They are often preferred by students and musicians in genres requiring projection, such as folk or jazz music. Gut core strings, though less common due to their sensitivity to environmental conditions and higher maintenance requirements, are cherished by purists for their rich, authentic tonal qualities. Additionally, there are hybrid options that combine elements of different core types to achieve specific acoustic properties. The diversity in string types allows manufacturers to address varied artistic needs and performance contexts, ensuring a broad and adaptable product range.

Application Insights

The application of viola strings spans multiple segments, each with unique requirements and consumption patterns. Professional musicians constitute a core application segment, demanding high-performance strings that deliver exceptional tone, responsiveness, and reliability during live performances and recording sessions. These users often prioritize strings that offer consistency and can withstand rigorous use. Educational institutions, including music schools and university programs, represent another significant application area, where the focus is on durability and affordability to accommodate student practice and ensemble activities. amateur enthusiasts and hobbyists form a growing segment, driven by personal interest and community music groups, often seeking strings that balance quality and cost-effectiveness. Additionally, restorative and custom instrument applications require specialized strings that can enhance or preserve the unique characteristics of vintage or handmade violas. The diversity in applications underscores the need for manufacturers to develop targeted products and marketing strategies, ensuring that each segment's specific needs are met effectively.

Regional Insights

The viola string market demonstrates distinct regional variations influenced by cultural, economic, and educational factors. North America and Europe are traditionally strong markets, characterized by high levels of musical education, numerous professional orchestras, and a deep-rooted classical music heritage. These regions exhibit robust demand for premium strings, with consumers showing a willingness to invest in high-quality products. The Asia-Pacific region is emerging as a significant growth area, fueled by increasing disposable incomes, expanding music education initiatives, and growing appreciation for Western classical music. Countries like China, South Korea, and Japan are witnessing a surge in viola adoption, driving demand for both entry-level and advanced strings. Latin America and the Middle East and Africa, while smaller in market size, present untapped potential, with rising interest in cultural activities and gradual improvements in music infrastructure. Regional preferences also play a role; for instance, European musicians may favor certain string types for their traditional sound, whereas North American players might prioritize innovation and durability. Understanding these regional nuances is crucial for market players aiming to optimize their global strategies.

Company Insights

The competitive landscape of the viola string market features several renowned companies that have established strong reputations through decades of expertise and innovation. Larsen Strings, a Danish manufacturer, is celebrated for its high-quality synthetic core strings, particularly favored by professional violists for their warm and powerful tone. Pirastro, a German company, offers a diverse range of strings including the popular Evah Pirazzi and Obligato lines, known for their rich sound and reliability. Thomastik-Infeld, an Austrian brand, is recognized for its precision engineering and innovative designs, such as the Dominant and Vision series, which cater to various playing styles. D'Addario, based in the United States, leverages its extensive distribution network and product variety, including Helicore and Kaplan strings, to appeal to a broad audience. Other notable players include Westminster, and Warchal, each bringing unique offerings to the market. These companies invest heavily in research and development, artist collaborations, and quality control to maintain their competitive edge. Their strategies often include global expansion, product diversification, and engaging with the musician community through workshops and endorsements.

Recent Developments

Recent developments in the viola string market reflect ongoing innovation and strategic movements aimed at enhancing product offerings and market reach. Several leading manufacturers have introduced new string models incorporating advanced materials and coating technologies to improve durability, tone stability, and playability. For instance, there has been a trend towards developing strings with enhanced resistance to corrosion and wear, extending their lifespan and maintaining consistent performance over time. Collaborations with acclaimed violists have resulted in signature series strings tailored to specific artistic preferences, thereby attracting dedicated followings. On the distribution front, companies are increasingly leveraging digital platforms and social media to engage directly with consumers, offering tutorials, artist spotlights, and personalized recommendations. Sustainability initiatives have also gained momentum, with brands exploring recyclable packaging and eco-friendly production methods to reduce environmental impact. Additionally, mergers and acquisitions among accessory manufacturers have occurred, aiming to consolidate market presence and expand product portfolios. These developments indicate a market that is responsive to technological advancements, consumer trends, and environmental considerations, ensuring its continued evolution and relevance.

Report Segmentation

This comprehensive market research report on the viola string industry is meticulously segmented to provide detailed insights into various aspects of the market. The segmentation is based on type, application, and region, allowing for a granular analysis of trends and opportunities. By type, the report covers synthetic core strings, steel core strings, gut core strings, and hybrid varieties, examining the characteristics, demand patterns, and consumer preferences associated with each. The application segmentation includes professional use, educational institutions, amateur musicians, and restorative applications, highlighting the specific needs and drivers within each segment. Geographically, the report analyzes North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, assessing regional market dynamics, growth potential, and competitive landscapes. Each segment is evaluated in terms of market trends, key players, and future outlook, providing stakeholders with actionable intelligence to inform strategic decisions. This structured approach ensures that the report delivers a holistic yet detailed perspective, catering to the information requirements of manufacturers, distributors, investors, and other industry participants.

FAQs

What are the best viola strings for professional use? Professional violists often prefer synthetic core strings from brands like Larsen or Pirastro for their warm tone and stability, though preferences can vary based on individual playing style and instrument characteristics.

How often should viola strings be replaced? Strings should be replaced every 6 to 12 months with regular use, but professional musicians may change them more frequently to maintain optimal sound quality and performance.

What is the difference between synthetic and steel core viola strings? Synthetic core strings offer a warmer, more complex tone similar to gut strings but with better stability, while steel core strings provide a brighter sound, greater durability, and quicker response.

Are there specific strings recommended for student violists? Students often benefit from durable and affordable steel core or synthetic strings, such as those by D'Addario or Thomastik-Infeld, which offer good playability and longevity for practice purposes.

How does humidity affect viola strings? Humidity can cause gut and synthetic core strings to expand or contract, affecting tuning stability and tone; using coated strings or storing instruments properly can mitigate these effects.

Can viola strings improve the sound of an inexpensive instrument? Upgrading to high-quality strings can significantly enhance the tone and playability of a lower-end viola, making it a cost-effective way to improve instrument performance.

Citius Research has developed a research report titled “Viola String 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

• Viola String 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 Viola String 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.

Viola String Market Segmentation

Market Segmentation

Regions Covered

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

Viola String Market Analysis

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

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

Viola String Market Key Stakeholders

Below are the key stakeholders for the Viola String Market:

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

Viola String 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 Viola String 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 Viola String 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 Viola String 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 Viola String 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 Viola String 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 Viola String 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 Viola String 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 Viola String 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 Viola String 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 Viola String 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 Viola String 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 Viola String 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 Viola String 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 Viola String 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 Viola String 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 Viola String 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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