Massage Chairs Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0192299
  • Format: Electronic (PDF)
  • Number of Pages: 203
  • Author(s): Joshi, Madhavi

Report Overview

The Massage Chairs Market size was estimated at USD 3.2 billion in 2023 and is projected to reach USD 6 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.50% during the forecast period (2024-2030).

Massage Chairs Market

(Market Size)
$3.2 billion
$6 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 3.2 billion
2030 Market Size USD 6 billion
Key Players Osaki, Human Touch, Panasonic, Inada, Luraco

Market Summary

The massage chairs market represents a specialized and growing segment within the broader consumer goods industry, specifically catering to the home wellness and personal comfort sectors. These sophisticated pieces of furniture integrate advanced technology, including body scanning, zero-gravity positioning, and a variety of massage techniques, to provide therapeutic benefits. The market is characterized by continuous innovation, with manufacturers focusing on enhancing user experience through features like AI-driven personalization, heat therapy, and full-body air compression systems. Demand is primarily fueled by an increasing consumer focus on health, wellness, and self-care, coupled with the convenience of having a spa-like experience at home. The target demographic has expanded beyond luxury seekers to include health-conscious individuals, the elderly population, and professionals seeking relief from sedentary lifestyles and work-related stress. The distribution landscape is diverse, encompassing company-owned online stores, e-commerce giants, specialty furniture retailers, and direct-to-consumer models, making these products increasingly accessible to a global audience.

Key Highlights

The massage chairs market is distinguished by its rapid technological evolution and premium positioning. Key highlights include the integration of cutting-edge robotics and artificial intelligence to create highly personalized massage programs that adapt to the user's body shape and pressure preferences. Many high-end models now feature voice control compatibility with smart home systems, Bluetooth speakers for immersive relaxation, and sleek, modern designs that complement contemporary home decor. Another significant trend is the emphasis on ergonomic design and clinical benefits, with some products developed in consultation with chiropractors and physical therapists. The competitive landscape is intense, with brands competing not only on features and performance but also on durability, warranty offerings, and after-sales service. Sustainability is also emerging as a differentiator, with manufacturers exploring the use of eco-friendly materials and energy-efficient operations. The market sees consistent product launches, each iteration boasting incremental improvements in functionality, user interface, and overall comfort, pushing the boundaries of what is possible in automated personal wellness.

Drivers, Opportunities & Restraints

Primary growth drivers for the massage chairs market include the rising global prevalence of chronic back pain and musculoskeletal disorders, largely attributed to increasingly sedentary work environments and aging populations. The growing consumer disposable income, especially in developing economies, allows for greater investment in premium home wellness products. Furthermore, the heightened awareness of health and preventive care post-pandemic has accelerated demand for home-based fitness and recovery solutions. Significant opportunities lie in market penetration within emerging economies where the middle class is expanding. There is also a substantial opportunity in the commercial sector, including offices, hotels, airports, and wellness centers, to offer massage services as an amenity. However, the market faces considerable restraints. The high cost of advanced massage chairs remains a major barrier to mass adoption, limiting the customer base to mid and high-income segments. The products also require considerable physical space, which can be a constraint in smaller living areas. Additionally, a lack of consumer awareness regarding the long-term health benefits and technological features in certain regions can hinder growth, requiring substantial marketing investment from manufacturers.

Concentration Insights

The global massage chairs market exhibits a high degree of concentration, with a handful of established players holding a significant portion of the market share. This concentration is particularly evident in the Asia-Pacific region, which is both a major manufacturing hub and a leading consumer market. Companies like Panasonic, Fujiiryoki, and Inada are longstanding leaders with strong brand recognition and extensive distribution networks. These players compete intensely on technology, brand heritage, and product reliability. The market also includes several strong players from other regions, such as Human Touch and Osaki from the United States, which have a loyal customer base. The competitive dynamic is defined by continuous research and development efforts to introduce innovative features and secure patents. While the top-tier is consolidated, the market also features a long tail of smaller brands and new entrants that often compete on price, offering more affordable models with basic functionality, primarily through online channels. This creates a bifurcated market structure with premium and value segments.

Type Insights

The massage chairs market is segmented by type, primarily distinguished by the technology and range of motion of the massage mechanisms. The two predominant categories are 2D, 3D, and 4D massage chairs. Two-dimensional chairs provide basic up-down and side-to-side roller movements, offering a foundational massage experience. Three-dimensional chairs add depth to these movements, allowing the rollers to extend further into the user's back muscles for a more intense and targeted massage, simulating the feeling of human thumbs. The most advanced category is the 4D massage chair, which incorporates a time element, enabling the rollers to vary their speed and intensity dynamically throughout the massage session for an incredibly lifelike and therapeutic experience. Beyond roller technology, segmentation also occurs based on features such as zero-gravity recline, which distributes weight evenly to reduce spine pressure, L-Track or S-Track roller systems that follow the natural curvature of the spine, and the inclusion of additional therapies like heat application or full-body airbag compression.

Application Insights

Massage chairs find application across two main domains: residential and commercial. The residential segment constitutes the largest share of the market, driven by consumers seeking the convenience and long-term benefits of owning a personal massage solution for daily use within their homes. This application focuses on relaxation, stress relief, and managing chronic pain. Within the residential segment, products are further tailored for specific user needs, such as models designed for taller individuals or those with enhanced programs for athletes. The commercial application segment is diverse and growing, encompassing a wide array of settings. These include corporate offices, where they are offered as an employee wellness perk; luxury hotels and spas, as a premium guest amenity; healthcare facilities like chiropractic clinics, for therapeutic purposes; and public spaces such as airports and shopping malls, where they are deployed on a pay-per-use basis. The requirements for commercial-grade chairs often emphasize durability, hygiene, and ease of maintenance, in addition to core massage functionality.

Regional Insights

The massage chairs market demonstrates distinct regional dynamics. The Asia-Pacific region is the undisputed leader, accounting for the largest market share globally. This dominance is attributed to several factors, including the strong presence of key manufacturers in Japan, China, and South Korea, a deep-rooted cultural acceptance of massage for wellness, and a high population density with growing disposable income. North America represents another significant market, characterized by high consumer spending on premium wellness products and a strong focus on technological innovation. The market in Europe is steadily growing, fueled by an increasing health consciousness and demand for non-invasive pain management solutions. The Middle East and Africa, along with Latin America, are currently emerging markets with immense potential. Growth in these regions is anticipated to be driven by economic development, urbanization, and the gradual expansion of distribution channels that make these products more accessible to a broader consumer base.

Company Insights

The competitive landscape of the massage chairs market is populated by several key players who drive innovation and brand recognition. Panasonic Corporation is a globally recognized leader, renowned for its technological prowess and high-quality, feature-rich chairs. Japanese company Fujiiryoki holds a venerable position with a long history of manufacturing premium chairs that are often considered industry benchmarks. Inada Co., Ltd., also from Japan, is famous for its iconic designs and therapeutic focus. From the United States, Human Touch is a prominent player known for its innovative designs and strong direct-to-consumer marketing. Osaki is another major brand that offers a wide range of models from mid-range to high-end, balancing advanced features with competitive pricing. Other notable companies include Family Inada Co., Ltd. and BODYFRIEND. These companies compete fiercely through strategies involving aggressive research and development to pioneer new features, strategic partnerships with retailers and wellness experts, and expansive global distribution networks to capture market share.

Recent Developments

The massage chairs market is witnessing a wave of recent developments centered on technological integration and enhanced user connectivity. A prominent trend is the deeper incorporation of Artificial Intelligence and Internet of Things technology, enabling chairs to learn user preferences over time and adjust massage programs automatically for a truly personalized experience. Connectivity features have been significantly upgraded, with many new models offering seamless integration with smartphone apps for remote control, program customization, and health tracking. There is a growing emphasis on holistic wellness, leading to chairs that offer combination therapies, such as chromotherapy (light therapy) and synchronized meditation guidance alongside massage. Sustainability has also become a focus area, with manufacturers announcing initiatives to use more recyclable materials and reduce the environmental footprint of their products. Furthermore, key players are expanding their commercial market strategies, forming partnerships with corporate wellness programs and luxury hospitality chains to install their chairs, thus tapping into new revenue streams beyond the traditional residential consumer.

Report Segmentation

This comprehensive market research report on the massage chairs industry provides a detailed analysis segmented across multiple dimensions to offer a granular view of the market landscape. The segmentation is primarily based on type, categorizing products into 2D, 3D, and 4D massage chairs based on the sophistication of their roller mechanisms. The report further segments the market by application, distinguishing between residential and commercial usage, with the commercial segment broken down into sub-applications like corporate offices, hospitality, healthcare, and others. A critical component of the segmentation is the regional analysis, which provides insights into market performance and trends across key geographies including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Additionally, the report includes a thorough competitive landscape section, profiling major companies, their market shares, product portfolios, and recent strategic initiatives such as mergers, acquisitions, and new product launches. This multi-faceted segmentation allows stakeholders to identify specific growth pockets and tailor their strategies accordingly.

FAQs

What are the benefits of owning a massage chair?

Owning a massage chair offers numerous benefits including stress reduction, alleviation of muscle tension and chronic back pain, improved blood circulation, enhanced relaxation and sleep quality, and relief from headaches. They provide a convenient and cost-effective alternative to frequent professional massage therapy sessions.

How much does a good massage chair cost?

The cost of a massage chair varies widely based on features and technology. Prices can range from a few hundred dollars for very basic models to several thousand dollars for high-end chairs with advanced features like 4D rollers, body scanning, zero-gravity positioning, and AI learning capabilities.

What is the difference between 2D, 3D, and 4D massage chairs?

The primary difference lies in the movement of the massage rollers. 2D chairs move up/down and left/right. 3D chairs add a third dimension of depth, allowing rollers to protrude further into the back tissue. 4D chairs incorporate a time element, enabling variable speed and intensity for a more dynamic, human-like massage experience.

Are massage chairs good for your back?

When used appropriately, massage chairs are generally considered good for your back. They can help relieve muscle stiffness, knots, and tension, improve flexibility, and promote relaxation. However, individuals with specific severe back conditions or health issues should consult a doctor before use.

How long do massage chairs typically last?

The lifespan of a massage chair depends on the quality, usage frequency, and maintenance. A well-built chair from a reputable brand, with average home use, can typically last between 5 to 10 years or even longer. Commercial models used heavily may have a shorter operational life.

Can massage chairs help with anxiety?

Yes, massage chairs can be a helpful tool in managing anxiety. The rhythmic massage motions promote relaxation, trigger the release of endorphins (feel-good hormones), lower cortisol levels (the stress hormone), and can improve overall mood, making them a valuable asset for mental wellbeing.

Citius Research has developed a research report titled “Massage Chairs 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

• Massage Chairs 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 Massage Chairs 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.

Massage Chairs Market Segmentation

Market Segmentation

Regions Covered

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

Massage Chairs Market Analysis

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

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

Massage Chairs Market Key Stakeholders

Below are the key stakeholders for the Massage Chairs Market:

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

Massage Chairs 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 Massage Chairs 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 Massage Chairs 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 Massage Chairs 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 Massage Chairs 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 Massage Chairs 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 Massage Chairs 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 Massage Chairs 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 Massage Chairs 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 Massage Chairs 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 Massage Chairs 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 Massage Chairs 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 Massage Chairs 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 Massage Chairs 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 Massage Chairs 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 Massage Chairs 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 Massage Chairs 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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