Lidar Market By Application, Component And Product- Global Industry Analysis And Forecast To 2023
Published On : May 2022 Pages : 100 Category: Communication Services Report Code : IC05762
Industry Outlook and Trend Analysis
The LiDAR Market was worth USD 0.85 billion in 2017 and is expected to reach approximately USD 6.71 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 25.80% during the forecast period. The technological progressions in spatial resolution of LiDAR-based digital terrain models give inconceivable precision in applications, for example, water runoff for agriculture or mining sites, change detection on hillsides, and inland waterways. The rising interest for 3D imagery in different application regions, for example, military and defence, civil engineering, topographical surveys, and corridor mapping, is foreseen to fundamentally drive the LiDAR market over the conjecture time frame. Finished 3D symbolism is connected in different applications, for example, city planning, photo-realistic fly, and 3D mapping.
Product Outlook and Trend Analysis
Airborne fragment represented the real offer of the market, which is expected to increment in the following couple of years because of the expanding reception of aerial mapping devices. Aerial LiDAR is a precise and thorough strategy for making advanced digital elevation models, along these lines supplanting photogrammetry. This system provides upgraded accuracy and bigger region scope when contrasted with its terrestrial counterparts.
Component Outlook and Trend Analysis
The laser scanners component section is assessed to be one of the main business fragments amid the conjecture time frame. The portion represented the major share of the general business in 2017. Laser scanners are used to record a power esteem, to give an arrival flag quality that can be useful to recognize objects of variable reflectivity. The interest for laser scanners is anticipated to increase significantly in the following years.
Application Outlook and Trend Analysis
The ADAS application is foreseen to enrol the highest development amid the gauge time frame because of the surging incorporation of LiDAR-based sensors in various car security applications. Corridor mapping application represented a huge portion of the aggregate share of the market in 2017 and is anticipated to witness a diminishment in share of the overall industry amid the gauge time frame.
Regional Outlook and Trend Analysis
The North American regional market is foreseen to witness a gigantic development prospect in the worldwide LiDAR market, inferable from developing appropriation of authoritative directions, ordering the establishment of particular car security innovations in both lightweight and heavyweight vehicles in the area.
Competitive Insights
The leading players in the market are Optech, Faro business technologies India ltd, GeoDigital, Sick AG, Quantum Spatial Inc, Leica Geosystems Holdings AG, Velodyne and Trimble. The leading players in the market are tested to give innovative offerings, which enable buyers, to address evolving innovations, business practices, and security needs. An expansive number of eminent players are situated in Europe and are associated with offering advanced solutions for meeting the necessities crosswise over fluctuated applications.
The LiDAR Market is segmented as follows-
By Product:
- Navigation (IMU)
- Mobile & UAV
- GPS
- Laser Scanners
By Component:
- Engineering
- Exploration
- Corridor Mapping
- ADAS
- Others
By Application:
- Terrestrial
- Airborne
- Mobile & UAV
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
· LiDAR Market, By Application, Estimates and Forecast, 2014-2023($Billion)
o Corridor Mapping
o Engineering
o Environment
o Exploration
o Advanced Driver Assistance Systems (ADAS)
o Other Applications
· LiDAR Market, By Component, Estimates and Forecast, 2014-2023($Billion)
o Laser Scanner
o GPS
o Navigation
o Other Components
· LiDAR Market, By Product, Estimates and Forecast, 2014-2023($Billion)
o Airborne
o Terrestrial
o Mobile & UAV
· LiDAR Market, By Region, Estimates and Forecast, 2014-2023($Billion)
o North America
§ North America LiDAR Market, By Country
o U.S. LiDAR Market
o Canada LiDAR Market
o Mexico LiDAR Market
o Europe
§ Europe LiDAR Market, By Country
o Germany LiDAR Market
o UK LiDAR Market
o France LiDAR Market
o Russia LiDAR Market
o Italy LiDAR Market
o Rest of Europe LiDAR Market
o Asia-Pacific
§ Asia-Pacific LiDAR Market, By Country
o China LiDAR Market
o Japan LiDAR Market
o South Korea LiDAR Market
o India LiDAR Market
o Southeast Asia LiDAR Market
o Rest of Asia-Pacific LiDAR Market
o South America
§ South America LiDAR Market
o Brazil LiDAR Market
o Argentina LiDAR Market
o Columbia LiDAR Market
o South Africa LiDAR Market
o Rest of South America LiDAR Market
o Middle East and Africa
§ Middle East and Africa LiDAR Market
o Saudi Arabia LiDAR Market
o UAE LiDAR Market
o Egypt LiDAR Market
o Nigeria LiDAR Market
o South Africa LiDAR Market
o Rest of MEA LiDAR 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. Increasing Demand for 3D Imagery
3.2.1.2. Growing Environmental Concerns
3.2.2. Restraints
3.2.2.1. Lack of Awareness and Customer Education
3.2.3. Opportunities
3.2.3.1. Emerging Countries to Offer Lucrative Growth Opportunities
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. LiDAR Market, By Application
5.1. Introduction
5.2. Global LiDAR Sales, Revenue and Market Share by Application (2017-2017)
5.2.1. Global LiDAR Sales and Sales Share by Application (2017-2017)
5.2.2. Global LiDAR Revenue and Revenue Share by Application (2017-2017)
5.3. LiDAR Market Assessment and Forecast, By Application, 2017-2023
5.4. Corridor Mapping
5.4.1. Global Corridor Mapping Sales and Growth Rate (2017-2027)
5.5. Engineering
5.5.1. Global Engineering Sales and Growth Rate (2017-2027)
5.6. Environment
5.6.1. Global Environment Sales and Growth Rate (2017-2027)
5.7. Exploration
5.7.1. Global Exploration Sales and Growth Rate (2017-2027)
5.8. Advanced Driver Assistance Systems (ADAS)
5.8.1. Global Advanced Driver Assistance Systems (ADAS) Sales and Growth Rate (2017-2027)
5.9. Other Applications
5.9.1. Global Other Applications Sales and Growth Rate (2017-2027)
6. LiDAR Market, By Component
6.1. Introduction
6.2. Global LiDAR Sales, Revenue and Market Share by Component (2017-2017)
6.2.1. Global LiDAR Sales and Sales Share by Component (2017-2017)
6.2.2. Global LiDAR Revenue and Revenue Share by Component (2017-2017)
6.3. LiDAR Market Assessment and Forecast, By Component, 2017-2023
6.4. Laser Scanner
6.4.1. Global Laser Scanner Sales and Growth Rate (2017-2027)
6.5. GPS
6.5.1. Global GPS Sales and Growth Rate (2017-2027)
6.6. Navigation
6.6.1. Global Navigation Sales and Growth Rate (2017-2027)
6.7. Other Components
6.7.1. Global Other Components Sales and Growth Rate (2017-2027)
7. LiDAR Market, By Product
7.1. Introduction
7.2. Global LiDAR Sales, Revenue and Market Share by Product (2017-2017)
7.2.1. Global LiDAR Sales and Sales Share by Product (2017-2017)
7.2.2. Global LiDAR Revenue and Revenue Share by Product (2017-2017)
7.3. LiDAR Market Assessment and Forecast, By Product, 2017-2023($Billion)
7.4. Airborne
7.4.1. Global Airborne Sales and Growth Rate (2017-2027)
7.5. Terrestrial
7.5.1. Global Terrestrial Sales and Growth Rate (2017-2027)
7.6. Mobile & UAV
7.6.1. Global Mobile & UAV Sales and Growth Rate (2017-2027)
8. LiDAR Market, By Region
8.1. Introduction
8.2. Global LiDAR Sales, Revenue and Market Share by Regions
8.2.1. Global LiDAR Sales by Regions (2017-2027)
8.2.2. Global LiDAR Revenue by Regions (2017-2027)
8.3. North America LiDAR by Countries
8.3.1. North America LiDAR Sales and Growth Rate (2017-2027)
8.3.2. North America LiDAR Revenue and Growth Rate (2017-2027)
8.3.3. North America LiDAR Sales by Countries (2017-2027)
8.3.4. North America LiDAR Revenue (Million USD) by Countries (2017-2027)
8.3.5. U.S.
8.3.5.1. United States LiDAR Sales and Growth Rate (2017-2027)
8.3.5.2. United States LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.3.6. Canada
8.3.6.1. Canada LiDAR Sales and Growth Rate (2017-2027)
8.3.6.2. Canada LiDAR Sales (Millions USD) and Growth Rate (2017-2027)
8.3.7. Mexico
8.3.7.1. Mexico LiDAR Sales and Growth Rate (2017-2027)
8.3.7.2. Mexico LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.4. Europe LiDAR by Countries
8.4.1. Europe LiDAR Sales and Growth Rate (2017-2027)
8.4.2. Europe LiDAR Revenue and Growth Rate (2017-2027)
8.4.3. Europe LiDAR Sales by Countries (2017-2027)
8.4.4. Europe LiDAR Revenue (Million USD) by Countries (2017-2027)
8.4.5. Germany
8.4.5.1. Germany LiDAR Sales and Growth Rate (2017-2027)
8.4.5.2. Germany LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.6. UK
8.4.6.1. UK LiDAR Sales and Growth Rate (2017-2027)
8.4.6.2. UK LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.7. France
8.4.7.1. France LiDAR Sales and Growth Rate (2017-2027)
8.4.7.2. France LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.8. Russia
8.4.8.1. Russia LiDAR Sales and Growth Rate (2017-2027)
8.4.8.2. Russia LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.9. Italy
8.4.9.1. Italy LiDAR Sales and Growth Rate (2017-2027)
8.4.9.2. Italy LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.10. Rest of Europe
8.4.10.1. Rest of Europe LiDAR Sales and Growth Rate (2017-2027)
8.4.10.2. Rest of Europe LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.5. Asia-Pacific
8.5.1. Asia-Pacific LiDAR Sales and Growth Rate (2017-2027)
8.5.2. Asia-Pacific LiDAR Revenue and Growth Rate (2017-2027)
8.5.3. Asia-Pacific LiDAR Sales by Countries (2017-2027)
8.5.4. Asia-Pacific LiDAR Revenue (Million USD) by Countries (2017-2027)
8.5.5. China
8.5.5.1. China LiDAR Sales and Growth Rate (2017-2027)
8.5.5.2. China LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.6. Japan
8.5.6.1. Japan LiDAR Sales and Growth Rate (2017-2027)
8.5.6.2. Japan LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.6.3.
8.5.7. Korea
8.5.7.1. Korea LiDAR Sales and Growth Rate (2017-2027)
8.5.7.2. Korea LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.8. India
8.5.8.1. India LiDAR Sales and Growth Rate (2017-2027)
8.5.8.2. India LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.9. Southeast Asia
8.5.9.1. Southeast Asia LiDAR Sales and Growth Rate (2017-2027)
8.5.9.2. Southeast Asia LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.10. Rest of Asia-Pacific
8.5.10.1. Rest of Asia-Pacific LiDAR Sales and Growth Rate (2017-2027)
8.5.10.2. Rest of Asia-Pacific LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.6. South America
8.6.1. South America LiDAR Sales and Growth Rate (2017-2027)
8.6.2. South America LiDAR Revenue and Growth Rate (2017-2027)
8.6.3. South America LiDAR Sales by Countries (2017-2027)
8.6.4. South America LiDAR Revenue (Million USD) by Countries (2017-2027)
8.6.5. Brazil
8.6.5.1. Brazil LiDAR Sales and Growth Rate (2017-2027)
8.6.5.2. Brazil LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.6. Argentina
8.6.6.1. Argentina LiDAR Sales and Growth Rate (2017-2027)
8.6.6.2. Argentina LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.7. Columbia
8.6.7.1. Columbia LiDAR Sales and Growth Rate (2017-2027)
8.6.7.2. Columbia LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.8. Rest of South America
8.6.8.1. Rest of South America LiDAR Sales and Growth Rate (2017-2027)
8.6.8.2. Rest of South America LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.7. Middle East and Africa
8.7.1. Middle East and Africa LiDAR Sales and Growth Rate (2017-2027)
8.7.2. Middle East and Africa LiDAR Revenue and Growth Rate (2017-2027)
8.7.3. Middle East and Africa LiDAR Sales by Countries (2017-2027)
8.7.4. Middle East and Africa LiDAR Revenue (Million USD) by Countries (2017-2027)
8.7.5. Saudi Arabia
8.7.5.1. Saudi Arabia LiDAR Sales and Growth Rate (2017-2027)
8.7.5.2. Saudi Arabia LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.6. United Arab Emirates
8.7.6.1. United Arab Emirates LiDAR Sales and Growth Rate (2017-2027)
8.7.6.2. United Arab Emirates LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.7. Egypt
8.7.7.1. Egypt LiDAR Sales and Growth Rate (2017-2027)
8.7.7.2. Egypt LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.8. Nigeria
8.7.8.1. Nigeria LiDAR Sales and Growth Rate (2017-2027)
8.7.8.2. Nigeria LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.9. South Africa
8.7.9.1. South Africa LiDAR Sales and Growth Rate (2017-2027)
8.7.9.2. South Africa LiDAR 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 LiDAR Sales and Growth Rate (2017-2027)
8.7.10.2. Rest of Middle East and Africa LiDAR Revenue (Millions USD) and Growth Rate (2017-2027)
9. Company Profiles
9.1. Faro Technologies, Inc.
9.1.1. Business Overview
9.1.2. Product Portfolio
9.1.3. Strategic Developments
9.1.4. LiDAR Sales, Revenue and Market Share
9.2. Leica Geosystems Holdings AG
9.2.1. Business Overview
9.2.2. Product Portfolio
9.2.3. Strategic Developments
9.2.4. LiDAR Sales, Revenue and Market Share
9.3. Teledyne Optech Incorporated (A part of Teledyne Technologies)
9.3.1. Business Overview
9.3.2. Product Portfolio
9.3.3. Strategic Developments
9.3.4. LiDAR Sales, Revenue and Market Share
9.4. Trimble Navigation Limited
9.4.1. Business Overview
9.4.2. Product Portfolio
9.4.3. Strategic Developments
9.4.4. LiDAR Sales, Revenue and Market Share
9.5. RIEGL USA, Inc.
9.5.1. Business Overview
9.5.2. Product Portfolio
9.5.3. Strategic Developments
9.5.4. LiDAR Sales, Revenue and Market Share
9.6. Quantum Spatial, Inc.
9.6.1. Business Overview
9.6.2. Product Portfolio
9.6.3. Strategic Developments
9.6.4. LiDAR Sales, Revenue and Market Share
9.7. Velodyne LiDAR, Inc.
9.7.1. Business Overview
9.7.2. Product Portfolio
9.7.3. Strategic Developments
9.7.4. LiDAR Sales, Revenue and Market Share
9.8. Sick AG
9.8.1. Business Overview
9.8.2. Product Portfolio
9.8.3. Strategic Developments
9.8.4. LiDAR Sales, Revenue and Market Share
9.9. YellowScan
9.9.1. Business Overview
9.9.2. Product Portfolio
9.9.3. Strategic Developments
9.9.4. LiDAR Sales, Revenue and Market Share
9.10. GeoDigital
9.10.1. Business Overview
9.10.2. Product Portfolio
9.10.3. Strategic Developments
9.10.4. LiDAR Sales, Revenue and Market Share
10. Global LiDAR Market Competition, by Manufacturer
10.1. Global LiDAR Sales and Market Share by Manufacturer (2017-2017)
10.2. Global LiDAR Revenue and Market Share by Manufacturer (2017-2017)
10.3. Global LiDAR Price by Manufacturer (2017-2017)
10.4. Top 5 LiDAR Manufacturer Market Share
10.5. Market Competition Trend
11. LiDAR Market Forecast (2027-2023)
11.1. Global LiDAR Sales, Revenue (Millions USD) and Growth Rate (2027-2023)
11.2. LiDAR Market Forecast by Regions (2027-2023)
11.2.1. North America LiDAR Market Forecast (2027-2023)
11.2.1.1. United States LiDAR Market Forecast (2027-2023)
11.2.1.2. Canada LiDAR Market Forecast (2027-2023)
11.2.1.3. Mexico LiDAR Market Forecast (2027-2023)
11.2.2. Europe LiDAR Market Forecast (2027-2023)
11.2.2.1. Germany LiDAR Market Forecast (2027-2023)
11.2.2.2. United Kingdom LiDARs Market Forecast (2027-2023)
11.2.2.3. France LiDAR Market Forecast (2027-2023)
11.2.2.4. Russia LiDAR Market Forecast (2027-2023)
11.2.2.5. Italy LiDAR Market Forecast (2027-2023)
11.2.2.6. Rest of the Europe LiDAR Market Forecast (2027-2023)
11.2.3. Asia-Pacific LiDAR Market Forecast (2027-2023)
11.2.3.1. China LiDAR Market Forecast (2027-2023)
11.2.3.2. Japan LiDAR Market Forecast (2027-2023)
11.2.3.3. Korea LiDAR Market Forecast (2027-2023)
11.2.3.4. India LiDAR Market Forecast (2027-2023)
11.2.3.5. Southeast Asia LiDAR Market Forecast (2027-2023)
11.2.3.6. Rest of Asia-Pacific LiDAR Market Forecast (2027-2023)
11.2.4. South America LiDAR Market Forecast (2027-2023)
11.2.4.1. Brazil LiDAR Market Forecast (2027-2023)
11.2.4.2. Argentina LiDAR Market Forecast (2027-2023)
11.2.4.3. Columbia LiDAR Market Forecast (2027-2023)
11.2.4.4. Rest of South America LiDAR Market Forecast (2027-2023)
11.2.5. Middle East and Africa LiDAR Market Forecast (2027-2023)
11.2.5.1. Saudi Arabia LiDAR Market Forecast (2027-2023)
11.2.5.2. UAE LiDAR Market Forecast (2027-2023)
11.2.5.3. Egypt LiDAR Market Forecast (2027-2023)
11.2.5.4. Nigeria LiDAR Market Forecast (2027-2023)
11.2.5.5. South Africa LiDAR Market Forecast (2027-2023)
11.2.5.6. Rest of MEA LiDAR Market Forecast (2027-2023)
11.3. LiDAR Market Forecast by Application (2027-2023)
11.3.1. Global LiDAR Sales Forecast by Application (2027-2023)
11.3.2. Global LiDAR Sales Market Share Forecast by Application (2027-2023)
11.4. LiDAR Market Forecast by Product (2027-2023)
11.4.1. Global LiDAR Sales Forecast by Product (2027-2023)
11.4.2. Global LiDAR Sales Market Share Forecast by Product (2027-2023)
11.5. LiDAR Market Forecast by Component (2027-2023)
11.5.1. Global LiDAR Sales Forecast by Component (2027-2023)
11.5.2. Global LiDAR Sales Market Share Forecast by Component (2027-2023)
List of Tables and Figures
You can glance through the list of Tables and Figures when you view the sample copy of LiDAR Market.
List of Tables
You can glance through the list of Tables and Figures when you view the sample copy of LiDAR 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 |
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Demand Side |
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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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