Farm Management Software Market By Agriculture Type, Deployment Mode, And Service Provider - Global Industry Analysis And Forecast To 2023
Published On : June 2022 Pages : 100 Category: Next Generation Technology Report Code : IC06864
Industry Outlook & Trend Analysis.
The Farm Management Software market was worth USD 0.67 billion in 2017 and is expected to reach approximately USD 2.19 billion by 2023 at a CAGR of 14.14%. As the world population is increasing continuously the demand for food is also rising. Hence an efficient way for farming and its management has to developed and used in order to fulfill the demands. Factors such as government initiatives to adopt modern farming techniques and management and rising focus on management of livestock are predicted to propel the market growth further.
Type Outlook & Trend Analysis
Based on type, the market is segmented Precision Farming, Livestock Monitoring, Fish Farming, and Smart Greenhouse Farming. Precision farming holds the major share of the market at a value of USD XX and is estimated to dominate the market through the forecast period. Increasing number of diary farms and demand for reviewing the health and welfare of livestock are the major factors giving rise to livestock farming segment. Smart Greenhouse Farming includes growing plants in a very controlled environment. Due to rising urban population the Smart Greenhouse Segment will continue to grow during the forecast.
Deployment Mode Outlook & Trend Analysis
The Deployment Mode based segmentation of Farm Management software is divided into web-based and cloud-based. In comparison with web based mode of deployment the cloud based mode does not require the farmer to buy a server for functioning of the farm. All the data needed for farming such as irrigation, pest usage, seed usage, etc. is collected with help of sensors and transferred to the server where the user can manage the data and integrate system with a solution from an administrator console.
Service Provider Outlook & Trend Analysis
Based on service the fragmentation are as follows System Integration & Consulting, Maintenance & Support, Assisted Professional Services, and Managed Services. The managed services dominates the market in terms of shares and is expected to continue throughout the forecast. The managed services are further segmented as data services, farm operation services, and analytics services. The assisted professional services are also further divided into climate information services and supply chain management services.
Regional Outlook & Trend Analysis
According to the region, the Farm Management Software Market is segmented as North America, Asia-Pacific, Europe and Rest of World. The Asia-Pacific is predicted to grow lucratively with a significant CAGR during the forecast period. Japan and China are the dominant countries in the region which are making hefty investments in the R&D sections of farm management software. North America owing to government subsidies is expected to grow its farm management software market during the forecast period.
Competitive Insights
The leading players in market are Deere & Company, Trimble, AG Leader Technology, SST Development Group, AgJunction, and Raven Industries. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Farm Management Software Market is segmented as follows-
By Type:
- Precision Farming
- Livestock Monitoring
- Fish Farming
- Smart Greenhouse Farming
By Deployment Mode:
- Web-based
- Cloud-based
By Service Provider:
- System Integration & Consulting
- Maintenance & Support
- Assisted Professional Services
- Managed Services
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Southeast Asia
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Columbia
- South Africa
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Nigeria
- South Africa
- Rest of MEA
Some of the key questions answered by the report are:
- What was the market size in 2017 and forecast from 2017 to 2023?
- What will be the industry market growth from 2017 to 2023?
- What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
- What are the major segments leading the market growth and why?
- Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Market Classification
· Farm Management Software Market, By Type, Estimates and Forecast, 2014-2023 ($Million)
o Precision Farming
o Livestock Monitoring
o Fish Farming
o Smart Greenhouse Farming
· Farm Management Software Market, By Deployment, Estimates and Forecast, 2014-2023 ($Million)
o Web-based
o Cloud-based
· Farm Management Software Market, By Service Provider, Estimates and Forecast, 2014-2023 ($Million)
o System Integration & Consulting
o Maintenance & Support
o Assisted Professional Services
o Managed Services
· Farm Management Software Market, By Region, Estimates and Forecast, 2014-2023 ($Million)
o North America
§ North America Farm Management Software Market, By Country
o U.S. Farm Management Software Market
o Canada Farm Management Software Market
o Mexico Farm Management Software Market
o Europe
§ Europe Farm Management Software Market, By Country
o Germany Farm Management Software Market
o UK Farm Management Software Market
o France Farm Management Software Market
o Russia Farm Management Software Market
o Italy Farm Management Software Market
o Rest of Europe Farm Management Software Market
o Asia-Pacific
§ Asia-Pacific Farm Management Software Market, By Country
o China Farm Management Software Market
o Japan Farm Management Software Market
o South Korea Farm Management Software Market
o India Farm Management Software Market
o Southeast Asia Farm Management Software Market
o Rest of Asia-Pacific Farm Management Software Market
o South America
§ South America Farm Management Software Market
o Brazil Farm Management Software Market
o Argentina Farm Management Software Market
o Columbia Farm Management Software Market
o South Africa Farm Management Software Market
o Rest of South America Farm Management Software Market
o Middle East and Africa
§ Middle East and Africa Farm Management Software Market
o Saudi Arabia Farm Management Software Market
o UAE Farm Management Software Market
o Egypt Farm Management Software Market
o Nigeria Farm Management Software Market
o South Africa Farm Management Software Market
o Rest of MEA Farm Management Software Market
Table of Contents
1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
2. Executive Summary
2.1. Key Highlights
3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Rising Adoption of Cloud Computing for Farm Data Management
3.2.1.2. Increasing Population Giving Rise to Demand For Food
3.2.1.3. Government Initiatives for Farm Management Software Adoption
3.2.1.4. Increasing Demand For Livestock Monitoring For Diseases and Efficiency
3.2.2. Restraints
3.2.2.1. High Cost of Implementation
3.2.2.2. Insufficiency of ability to understand technical problems
3.2.3. Opportunities
3.2.3.1. High Speed Internet Connectivity to Cater Suppliers with Opportunities for Expansion
3.2.3.2. Integration of Smart Phone Network in Farm Management System
4. Market Analysis by Regions
4.1. North America (United States, Canada and Mexico)
4.1.1. United States Market States and Outlook (2017-2023)
4.1.2. Canada Market States and Outlook (2017-2023)
4.1.3. Mexico Market States and Outlook (2017-2023)
4.2. Europe (Germany, France, UK, Russia, Italy and Rest of Europe)
4.2.1. Germany Market States and Outlook (2017-2023)
4.2.2. France Market States and Outlook (2017-2023)
4.2.3. UK Market States and Outlook (2017-2023)
4.2.4. Russia Market States and Outlook (2017-2023)
4.2.5. Italy Market States and Outlook (2017-2023)
4.2.6. Rest of Europe Market States and Outlook (2017-2023)
4.3. Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Rest of Asia-Pacific)
4.3.1. China Market States and Outlook (2017-2023)
4.3.2. Japan Market States and Outlook (2017-2023)
4.3.3. Korea Market States and Outlook (2017-2023)
4.3.4. India Market States and Outlook (2017-2023)
4.3.5. Rest of Asia-Pacific Market States and Outlook (2017-2023)
4.4. South America (Brazil, Argentina, Columbia and Rest of South America)
4.4.1. Brazil Market States and Outlook (2017-2023)
4.4.2. Argentina Market States and Outlook (2017-2023)
4.4.3. Columbia Market States and Outlook (2017-2023)
4.4.4. Rest of South America Market States and Outlook (2017-2023)
4.5. Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa and Rest of MEA)
4.5.1. Saudi Arabia Market States and Outlook (2017-2023)
4.5.2. UAE Market States and Outlook (2017-2023)
4.5.3. Egypt Market States and Outlook (2017-2023)
4.5.4. Nigeria Market States and Outlook (2017-2023)
4.5.5. South Africa Market States and Outlook (2017-2023)
4.5.6. Rest of MEA Market States and Outlook (2017-2023)
5. Farm Management Software Market, By Type
5.1. Introduction
5.2. Global Farm Management Software Sales, Revenue and Market Share By Type (2017-2027)
5.2.1. Global Farm Management Software Sales and Sales Share By Type (2017-2027)
5.2.2. Global Farm Management Software Revenue and Revenue Share By Type (2017-2027)
5.3. Precision Farming
5.3.1. Global Precision Farming Sales and Growth Rate (2017-2027)
5.4. Livestock Monitoring
5.4.1. Global Livestock Monitoring Sales and Growth Rate (2017-2027)
5.5. Fish Farming
5.5.1. Global Fish Farming Sales and Growth Rate (2017-2027)
5.6. Smart Greenhouse Farming
5.6.1. Global Smart Greenhouse Farming Sales and Growth Rate (2017-2027)
6. Farm Management Software Market, By Deployment Mode
6.1. Introduction
6.2. Global Farm Management Software Sales, Revenue and Market Share by Deployment Mode (2017-2027)
6.2.1. Global Farm Management Software Sales and Sales Share by Deployment Mode (2017-2027)
6.2.2. Global Farm Management Software Revenue and Revenue Share by Deployment Mode (2017-2027)
6.3. Web-based Deployment
6.3.1. Global Web-based Deployment Sales and Growth Rate (2017-2027)
6.4. Cloud-based Deployment
6.4.1. Global Cloud-based Deployment Sales and Growth Rate (2017-2027)
7. Farm Management Software Market, By Service Provider
7.1. Introduction
7.2. Global Farm Management Software Sales, Revenue and Market Share by Service Provider (2017-2027)
7.2.1. Global Farm Management Software Sales and Sales Share by Service Provider (2017-2027)
7.2.2. Global Farm Management Software Revenue and Revenue Share by Service Provider (2017-2027)
7.3. System Integration & Consulting
7.3.1. Global System Integration & Consulting Sales and Growth Rate (2017-2027)
7.4. Maintenance & Support
7.4.1. Global Maintenance & Support Sales and Growth Rate (2017-2027)
7.5. Assisted Professional Services
7.5.1. Global Assisted Professional Services Sales and Growth Rate (2017-2027)
7.6. Managed Services
7.6.1. Global Managed Services Sales and Growth Rate (2017-2027)
8. Farm Management Software Market, By Region
8.1. Introduction
8.2. Global Farm Management Software Sales, Revenue and Market Share by Regions
8.2.1. Global Farm Management Software Sales by Regions (2017-2027)
8.2.2. Global Farm Management Software Revenue by Regions (2017-2027)
8.3. North America Farm Management Software by Countries
8.3.1. North America Farm Management Software Sales and Growth Rate (2017-2027)
8.3.2. North America Farm Management Software Revenue and Growth Rate (2017-2027)
8.3.3. North America Farm Management Software Sales by Countries (2017-2027)
8.3.4. North America Farm Management Software Revenue (Million USD) by Countries (2017-2027)
8.3.5. U.S.
8.3.5.1. United States Farm Management Software Sales and Growth Rate (2017-2027)
8.3.5.2. United States Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.3.6. Canada
8.3.6.1. Canada Farm Management Software Sales and Growth Rate (2017-2027)
8.3.6.2. Canada Farm Management Software Sales (Millions USD) and Growth Rate (2017-2027)
8.3.7. Mexico
8.3.7.1. Mexico Farm Management Software Sales and Growth Rate (2017-2027)
8.3.7.2. Mexico Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.4. Europe Farm Management Software by Countries
8.4.1. Europe Farm Management Software Sales and Growth Rate (2017-2027)
8.4.2. Europe Farm Management Software Revenue and Growth Rate (2017-2027)
8.4.3. Europe Farm Management Software Sales by Countries (2017-2027)
8.4.4. Europe Farm Management Software Revenue (Million USD) by Countries (2017-2027)
8.4.5. Germany
8.4.5.1. Germany Farm Management Software Sales and Growth Rate (2017-2027)
8.4.5.2. Germany Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.6. UK
8.4.6.1. UK Farm Management Software Sales and Growth Rate (2017-2027)
8.4.6.2. UK Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.7. France
8.4.7.1. France Farm Management Software Sales and Growth Rate (2017-2027)
8.4.7.2. France Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.8. Russia
8.4.8.1. Russia Farm Management Software Sales and Growth Rate (2017-2027)
8.4.8.2. Russia Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.9. Italy
8.4.9.1. Italy Farm Management Software Sales and Growth Rate (2017-2027)
8.4.9.2. Italy Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.10. Rest of Europe
8.4.10.1. Rest of Europe Farm Management Software Sales and Growth Rate (2017-2027)
8.4.10.2. Rest of Europe Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.5. Asia-Pacific
8.5.1. Asia-Pacific Farm Management Software Sales and Growth Rate (2017-2027)
8.5.2. Asia-Pacific Farm Management Software Revenue and Growth Rate (2017-2027)
8.5.3. Asia-Pacific Farm Management Software Sales by Countries (2017-2027)
8.5.4. Asia-Pacific Farm Management Software Revenue (Million USD) by Countries (2017-2027)
8.5.5. China
8.5.5.1. China Farm Management Software Sales and Growth Rate (2017-2027)
8.5.5.2. China Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.6. Japan
8.5.6.1. Japan Farm Management Software Sales and Growth Rate (2017-2027)
8.5.6.2. Japan Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.7. Korea
8.5.7.1. Korea Farm Management Software Sales and Growth Rate (2017-2027)
8.5.7.2. Korea Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.8. India
8.5.8.1. India Farm Management Software Sales and Growth Rate (2017-2027)
8.5.8.2. India Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.9. Southeast Asia
8.5.9.1. Southeast Asia Farm Management Software Sales and Growth Rate (2017-2027)
8.5.9.2. Southeast Asia Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.10. Rest of Asia-Pacific
8.5.10.1. Rest of Asia-Pacific Farm Management Software Sales and Growth Rate (2017-2027)
8.5.10.2. Rest of Asia-Pacific Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.6. South America
8.6.1. South America Farm Management Software Sales and Growth Rate (2017-2027)
8.6.2. South America Farm Management Software Revenue and Growth Rate (2017-2027)
8.6.3. South America Farm Management Software Sales by Countries (2017-2027)
8.6.4. South America Farm Management Software Revenue (Million USD) by Countries (2017-2027)
8.6.5. Brazil
8.6.5.1. Brazil Farm Management Software Sales and Growth Rate (2017-2027)
8.6.5.2. Brazil Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.6. Argentina
8.6.6.1. Argentina Farm Management Software Sales and Growth Rate (2017-2027)
8.6.6.2. Argentina Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.7. Columbia
8.6.7.1. Columbia Farm Management Software Sales and Growth Rate (2017-2027)
8.6.7.2. Columbia Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.8. Rest of South America
8.6.8.1. Rest of South America Farm Management Software Sales and Growth Rate (2017-2027)
8.6.8.2. Rest of South America Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.7. Middle East and Africa
8.7.1. Middle East and Africa Farm Management Software Sales and Growth Rate (2017-2027)
8.7.2. Middle East and Africa Farm Management Software Revenue and Growth Rate (2017-2027)
8.7.3. Middle East and Africa Farm Management Software Sales by Countries (2017-2027)
8.7.4. Middle East and Africa Farm Management Software Revenue (Million USD) by Countries (2017-2027)
8.7.5. Saudi Arabia
8.7.5.1. Saudi Arabia Farm Management Software Sales and Growth Rate (2017-2027)
8.7.5.2. Saudi Arabia Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.6. United Arab Emirates
8.7.6.1. United Arab Emirates Farm Management Software Sales and Growth Rate (2017-2027)
8.7.6.2. United Arab Emirates Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.7. Egypt
8.7.7.1. Egypt Farm Management Software Sales and Growth Rate (2017-2027)
8.7.7.2. Egypt Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.8. Nigeria
8.7.8.1. Nigeria Farm Management Software Sales and Growth Rate (2017-2027)
8.7.8.2. Nigeria Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.9. South Africa
8.7.9.1. South Africa Farm Management Software Sales and Growth Rate (2017-2027)
8.7.9.2. South Africa Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.10. Rest of Middle East and Africa
8.7.10.1. Rest of Middle East and Africa Farm Management Software Sales and Growth Rate (2017-2027)
8.7.10.2. Rest of Middle East and Africa Farm Management Software Revenue (Millions USD) and Growth Rate (2017-2027)
9. Company Profiles
9.1. Deere & Company
9.1.1. Business Overview
9.1.2. Product Portfolio
9.1.3. Strategic Developments
9.1.4. Sales, Revenue and Market Share
9.2. Trimble
9.2.1. Business Overview
9.2.2. Product Portfolio
9.2.3. Strategic Developments
9.2.4. Sales, Revenue and Market Share
9.3. AG Leader Technology
9.3.1. Business Overview
9.3.2. Product Portfolio
9.3.3. Strategic Developments
9.3.4. Sales, Revenue and Market Share
9.4. SST Development Group
9.4.1. Business Overview
9.4.2. Product Portfolio
9.4.3. Strategic Developments
9.4.4. Sales, Revenue and Market Share
9.5. AgJunction
9.5.1. Business Overview
9.5.2. Product Portfolio
9.5.3. Strategic Developments
9.5.4. Sales, Revenue and Market Share
9.6. Raven Industries
9.6.1. Business Overview
9.6.2. Product Portfolio
9.6.3. Strategic Developments
9.6.4. Sales, Revenue and Market Share
10. Global Farm Management Software Market Competition, by Manufacturer
10.1. Global Farm Management Software Sales and Market Share by Manufacturer (2017-2017)
10.2. Global Farm Management Software Revenue and Market Share by Manufacturer (2017-2017)
10.3. Global Farm Management Software Price by Manufacturer (2017-2017)
10.4. Top 5 Farm Management Software Manufacturer Market Share
10.5. Market Competition Trend
11. Farm Management Software Market Forecast (2027-2023)
11.1. Global Farm Management Software Sales, Revenue (Millions USD) and Growth Rate (2027-2023)
11.2. Farm Management Software Market Forecast by Regions (2027-2023)
11.2.1. North America Farm Management Software Market Forecast (2027-2023)
11.2.1.1. United States Farm Management Software Market Forecast (2027-2023)
11.2.1.2. Canada Farm Management Software Market Forecast (2027-2023)
11.2.1.3. Mexico Farm Management Software Market Forecast (2027-2023)
11.2.2. Europe Farm Management Software Market Forecast (2027-2023)
11.2.2.1. Germany Farm Management Software Market Forecast (2027-2023)
11.2.2.2. United Kingdom Farm Management Software Market Forecast (2027-2023)
11.2.2.3. France Farm Management Software Market Forecast (2027-2023)
11.2.2.4. Russia Farm Management Software Market Forecast (2027-2023)
11.2.2.5. Italy Farm Management Software Market Forecast (2027-2023)
11.2.2.6. Rest of the Europe Farm Management Software Market Forecast (2027-2023)
11.2.3. Asia-Pacific Farm Management Software Market Forecast (2027-2023)
11.2.3.1. China Farm Management Software Market Forecast (2027-2023)
11.2.3.2. Japan Farm Management Software Market Forecast (2027-2023)
11.2.3.3. Korea Farm Management Software Market Forecast (2027-2023)
11.2.3.4. India Farm Management Software Market Forecast (2027-2023)
11.2.3.5. Southeast Asia Farm Management Software Market Forecast (2027-2023)
11.2.3.6. Rest of Asia-Pacific Farm Management Software Market Forecast (2027-2023)
11.2.4. South America Farm Management Software Market Forecast (2027-2023)
11.2.4.1. Brazil Farm Management Software Market Forecast (2027-2023)
11.2.4.2. Argentina Farm Management Software Market Forecast (2027-2023)
11.2.4.3. Columbia Farm Management Software Market Forecast (2027-2023)
11.2.4.4. Rest of South America Farm Management Software Market Forecast (2027-2023)
11.2.5. Middle East and Africa Farm Management Software Market Forecast (2027-2023)
11.2.5.1. Saudi Arabia Farm Management Software Market Forecast (2027-2023)
11.2.5.2. UAE Farm Management Software Market Forecast (2027-2023)
11.2.5.3. Egypt Farm Management Software Market Forecast (2027-2023)
11.2.5.4. Nigeria Farm Management Software Market Forecast (2027-2023)
11.2.5.5. South Africa Farm Management Software Market Forecast (2027-2023)
11.2.5.6. Rest of MEA Farm Management Software Market Forecast (2027-2023)
11.3. Farm Management Software Market Forecast By Type (2027-2023)
11.3.1. Global Farm Management Software Sales Forecast By Type(2027-2023)
11.3.2. Global Farm Management Software Sales Market Share Forecast By Type (2027-2023)
11.4. Farm Management Software Market Forecast by Deployment Mode (2027-2023)
11.4.1. Global Farm Management Software Sales Forecast by Deployment Mode (2027-2023)
11.4.2. Global Farm Management Software Sales Market Share Forecast by Deployment Mode (2027-2023)
11.5. Farm Management Software Market Forecast by Service Provider (2027-2023)
11.5.1. Global Farm Management Software Sales Forecast by Service Provider (2027-2023)
11.5.2. Global Farm Management Software Sales Market Share Forecast by Service Provider (2027-2023)
List of Tables
*You can glance through the list of Tables and Figures when you view the sample copy of Farm Management Software Market.
Research Methodology
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data Mining
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
Data Collection Matrix
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Data Collection Matrix |
Supply Side |
Demand Side |
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Primary Data Sources |
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Secondary Data Sources |
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Market Modeling and Forecasting
We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
- Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
- Number of patients for particular device or medical procedure and
- Repeated use of particular device depending on health and condition of patient
- Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.
We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.
Data Validation
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.
Data Triangulation
Industry Analysis
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Qualitative Data |
Quantitative Data (2017-2025) |
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