Precision Farming Market By Technology (high Precision Positioning System, Remote Sensing, Geomapping, Integrated Electronic Communication And Variable Rate Technology (vrt)), Component (hardware,services And Software) And Application (yield Monitoring, Weather Monitoring, Field Monitoring, Waste Management, Irrigation Management And Financial Management) - Global Industry Analysis And Forecast To 2023
Published On : July 2018 Pages : 180 Category: Next Generation Technology Report Code : IC071065
Industry Outlook and Trend Analysis
The Precision Farming Market was worth USD 3.08 billion in 2017 and is expected to reach approximately USD 9.49 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 13.32% during the forecast period. The worldwide food and agriculture environment encounters various difficulties today because of the rapid urbanization and increasing population. The decrease in the aggregate efficiency, reducing and corrupting natural resources, divided and declining land property, stagnating the resources of agriculture, and constrained business opportunities in agriculture as well as other divisions, are the central factors that are affecting the agriculture development and improvement. This enables the farmers and farming OEMs to implement advanced technologies to build the agriculture efficiency. Precision farming technology can possibly boost the harvest yield and diminish the expense of production by changing the custom agriculture techniques with the propelled IT based farming strategy fueled by the abilities of the artificial intelligence and Big Data analysis. It detects differences that are site particular inside the field and change the administration activity, rather than overseeing whole field in view of average normal conditions.
Component Outlook and Trend Analysis
Hardware is the leading the precision agriculture market due to increasing adoption of precision farming devices, for example, drones, sensors, cameras, mobile devices and UAVs. These devices are embedded on various kinds of farming equipment, for example, harvesters and tractors. As the technology is quickly advancing, further improvements are anticipated to bring about the advent of new devices with better area and information handling abilities. The hardware comprises of automated steering system, sensors, mobile device, UAVs & camera, GPS and GNSS, drone and others. The developing demand for sensor is ascribed to the low cost, increasing functionality, and improvement in the design & features.
Technology Outlook and Trend Analysis
The high precision positioning systems drove the precision farming market in 2017 because of the essential application of GPS and GNSS frameworks in precision farming solutions. These advances fill in as a reason for the working of precision farm systems and devices to decide and process location-based information. In addition, expanding adoption of the technology for giving auto-direction to harvesters and tractors to productively keep up separate for neighboring passes and to enhance machine control is additionally driving the precision agriculture market development.
Application Outlook and Trend Analysis
Yield monitoring is assessed to represent significant share in the digital farming market inferable from increasing usage of precision farming solutions by makers for ideal arranging and management of harvest. These solutions empower producers to design enter necessities to accomplish ideal yield. Moreover, the demand for data on real time basis amid the harvesting and necessity of recorded spatial database is increasing the interest for the yield monitoring technology. The interest for climate checking is assessed to increase amid the estimate time frame.
Regional Outlook and Trend Analysis
North America is the pioneer in the precision farming market inferable from the increased adoption of the propelled communication and information in the farming segment. The existence of steady government schemes and well-established infrastructure additionally boosts the demand. Moreover, expanding government endeavors and activities to drive the adoption of innovation in the district additionally cultivate the precision agriculture market development.
Competitive Insights
The leading players in the market are Agribotix LLC, Dickey-John Corporation, Farmers Edge Inc, BouMatic LLC, AgSmarts Inc, GEA Group, AgSense LLC, AGCO, Delaval Corporation, CropX Inc, CropMetrics LLC and John Deere. 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 Precision Farming Market is Segmented as following -
By Component
- Hardware
- Automated Steering System
- Drones
- UAVs & Camera
- Mobile Device
- Global Positioning System (GPS)
- Global Navigation Satellite System (GNSS)
- Software
- Services
- Consulting & Training
- Maintenance & Updates
- Managed Services, Integration
By Technology
- High Precision Positioning System
- Geomapping
- Remote Sensing
- Integrated Electronic Communication
- Variable Rate Technology (VRT)
By Application
- Weather Monitoring
- Yield Monitoring
- Field Monitoring
- Irrigation Management
- Waste Management
- Financial Management
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
· Precision Farming Market, By Component, Estimates and Forecast, 2014-2023($Billion)
o Hardware
§ Drones
§ Automated Steering System
§ UAVs & Camera
§ Mobile Device
§ Global Navigation Satellite System (GNSS)
§ Global Positioning System (GPS)
o Services
§ Maintenance & Updates
§ Consulting & Training
§ Managed Services
§ Integration
o Software
· Precision Farming Market, By Technology, Estimates and Forecast, 2014-2023($Billion)
o Geomapping
o High Precision Positioning System
o Remote Sensing
o Integrated Electronic Communication
o Variable Rate Technology (VRT)
· Precision Farming Market, By Application, Estimates and Forecast, 2014-2023($Billion)
o Yield Monitoring
o Weather Monitoring
o Field Monitoring
o Waste Management
o Irrigation Management
o Financial Management
· Precision Farming Market, By Region, Estimates and Forecast, 2014-2023($Billion)
o North America
§ North America Precision Farming Market, By Country
o U.S. Precision Farming Market
o Canada Precision Farming Market
o Mexico Precision Farming Market
o Europe
§ Europe Precision Farming Market, By Country
o Germany Precision Farming Market
o UK Precision Farming Market
o France Precision Farming Market
o Russia Precision Farming Market
o Italy Precision Farming Market
o Rest of Europe Precision Farming Market
o Asia-Pacific
§ Asia-Pacific Precision Farming Market, By Country
o China Precision Farming Market
o Japan Precision Farming Market
o South Korea Precision Farming Market
o India Precision Farming Market
o Southeast Asia Precision Farming Market
o Rest of Asia-Pacific Precision Farming Market
o South America
§ South America Precision Farming Market
o Brazil Precision Farming Market
o Argentina Precision Farming Market
o Columbia Precision Farming Market
o South Africa Precision Farming Market
o Rest of South America Precision Farming Market
o Middle East and Africa
§ Middle East and Africa Precision Farming Market
o Saudi Arabia Precision Farming Market
o UAE Precision Farming Market
o Egypt Precision Farming Market
o Nigeria Precision Farming Market
o South Africa Precision Farming Market
Rest of MEA Precision Farming 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
3.2.2. Restraints
3.2.3. 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. Precision Farming Market, By Component
5.1. Introduction
5.2. Global Precision Farming Revenue and Market Share by Component (2017-2027)
5.2.1. Global Precision Farming Revenue and Revenue Share by Component (2017-2027)
5.3. Hardware
5.3.1. Global Hardware and Growth Rate (2017-2027)
5.3.2. Global Hardware Market By Type (2017-2027)
5.3.3. Automated Steering System
5.3.3.1. Global Automated Steering System Revenue and Growth Rate (2017-2027)
5.3.4. UAVs & Camera
5.3.4.1. Global UAVs & Camera Revenue and Growth Rate (2017-2027)
5.3.5. Global Positioning System (GPS)
5.3.5.1. Global Global Positioning System (GPS) Revenue and Growth Rate (2017-2027)
5.3.6. Drones
5.3.6.1. Global Drones Revenue and Growth Rate (2017-2027)
5.3.7. Mobile Device
5.3.7.1. Global Mobile Device Revenue and Growth Rate (2017-2027)
5.3.8. Global Navigation Satellite System (GNSS)
5.3.8.1. Global Global Navigation Satellite System (GNSS) Revenue and Growth Rate (2017-2027)
5.4. Services
5.4.1. Global Services Revenue and Growth Rate (2017-2027)
5.4.2. Global Services Market By Type (2017-2027)
5.4.3. Maintenance & Updates
5.4.3.1. Global Maintenance & Updates Revenue and Growth Rate (2017-2027)
5.4.4. Consulting & Training
5.4.4.1. Global Consulting & Training Revenue and Growth Rate (2017-2027)
5.4.5. Managed Services, Integration
5.4.5.1. Global Managed Services, Integration Revenue and Growth Rate (2017-2027)
5.5. Software
5.5.1. Global Software Revenue and Growth Rate (2017-2027)
6. Precision Farming Market, By Application
6.1. Introduction
6.2. Global Precision Farming Revenue and Market Share by Application (2017-2027)
6.2.1. Global Precision Farming Revenue and Revenue Share by Application (2017-2027)
6.3. Yield Monitoring
6.3.1. Global Yield Monitoring Sector Revenue and Growth Rate (2017-2027)
6.4. Weather Monitoring
6.4.1. Global Weather Monitoring Revenue and Growth Rate (2017-2027)
6.5. Field Monitoring
6.5.1. Global Field Monitoring Revenue and Growth Rate (2017-2027)
6.6. Waste Management
6.6.1. Global Waste Management Revenue and Growth Rate (2017-2027)
6.7. Irrigation Management
6.7.1. Global Irrigation Management Revenue and Growth Rate (2017-2027)
6.8. Financial Management
6.8.1. Global Financial Management Revenue and Growth Rate (2017-2027)
7. Precision Farming Market, By Technology
7.1. Introduction
7.2. Global Precision Farming Revenue and Market Share by Technology (2017-2027)
7.2.1. Global Precision Farming Revenue and Revenue Share by Technology (2017-2027)
7.3. Geomapping
7.3.1. Global Geomapping Revenue and Growth Rate (2017-2027)
7.4. High Precision Positioning System
7.4.1. Global High Precision Positioning System Revenue and Growth Rate (2017-2027)
7.5. Integrated Electronic Communication
7.5.1. Global Integrated Electronic Communication Revenue and Growth Rate (2017-2027)
7.6. Remote Sensing
7.6.1. Global Remote Sensing Revenue and Growth Rate (2017-2027)
7.7. Variable Rate Technology (VRT)
7.7.1. Global Variable Rate Technology (VRT) Revenue and Growth Rate (2017-2027)
8. Precision Farming Market, By Region
8.1. Introduction
8.2. Global Precision Farming Revenue and Market Share by Regions
8.2.1. Global Precision Farming Revenue by Regions (2017-2027)
8.3. North America Precision Farming by Countries
8.3.1. North America Precision Farming Revenue and Growth Rate (2017-2027)
8.3.2. North America Precision Farming Revenue by Countries (2017-2027)
8.3.3. North America Precision Farming Revenue (Million USD) by Countries (2017-2027)
8.3.4. U.S.
8.3.4.1. United States Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.3.5. Canada
8.3.5.1. Canada Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.3.6. Mexico
8.3.6.1. Mexico Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.4. Europe Precision Farming by Countries
8.4.1. Europe Precision Farming Revenue and Growth Rate (2017-2027)
8.4.2. Europe Precision Farming Revenue by Countries (2017-2027)
8.4.3. Europe Precision Farming Revenue (Million USD) by Countries (2017-2027)
8.4.4. Germany
8.4.4.1. Germany Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.5. UK
8.4.5.1. UK Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.6. France
8.4.6.1. France Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.7. Russia
8.4.7.1. Russia Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.8. Italy
8.4.8.1. Italy Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.9. Rest of Europe
8.4.9.1. Rest of Europe Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.5. Asia-Pacific
8.5.1. Asia-Pacific Precision Farming Revenue and Growth Rate (2017-2027)
8.5.2. Asia-Pacific Precision Farming Revenue by Countries (2017-2027)
8.5.3. Asia-Pacific Precision Farming Revenue (Million USD) by Countries (2017-2027)
8.5.4. China
8.5.4.1. China Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.5. Japan
8.5.5.1. Japan Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.5.2.
8.5.6. Korea
8.5.6.1. Korea Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.7. India
8.5.7.1. India Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.8. Southeast Asia
8.5.8.1. Southeast Asia Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.9. Rest of Asia-Pacific
8.5.9.1. Rest of Asia-Pacific Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.6. South America
8.6.1. South America Precision Farming Revenue and Growth Rate (2017-2027)
8.6.2. South America Precision Farming Revenue by Countries (2017-2027)
8.6.3. South America Precision Farming Revenue (Million USD) by Countries (2017-2027)
8.6.4. Brazil
8.6.4.1. Brazil Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.5. Argentina
8.6.5.1. Argentina Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.6. Columbia
8.6.6.1. Columbia Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.7. Rest of South America
8.6.7.1. Rest of South America Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.7. Middle East and Africa
8.7.1. Middle East and Africa Precision Farming Revenue and Growth Rate (2017-2027)
8.7.2. Middle East and Africa Precision Farming Revenue by Countries (2017-2027)
8.7.3. Middle East and Africa Precision Farming Revenue (Million USD) by Countries (2017-2027)
8.7.4. Saudi Arabia
8.7.4.1. Saudi Arabia Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.5. United Arab Emirates
8.7.5.1. United Arab Emirates Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.6. Egypt
8.7.6.1. Egypt Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.7. Nigeria
8.7.7.1. Nigeria Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.8. South Africa
8.7.8.1. South Africa Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.9. Rest of Middle East and Africa
8.7.9.1. Rest of Middle East and Africa Precision Farming Revenue (Millions USD) and Growth Rate (2017-2027)
9. Company Profiles
9.1. AGCO Corporation
9.1.1. Business Overview
9.1.2. Component Portfolio
9.1.3. Strategic Developments
9.1.4. Revenue and Market Share
9.2. AG Leader Technology
9.2.1. Business Overview
9.2.2. Component Portfolio
9.2.3. Strategic Developments
9.2.4. Revenue and Market Share
9.3. Agribotix LLC
9.3.1. Business Overview
9.3.2. Component Portfolio
9.3.3. Strategic Developments
9.3.4. Revenue and Market Share
9.4. AgJunction LLC
9.4.1. Business Overview
9.4.2. Component Portfolio
9.4.3. Strategic Developments
9.4.4. Revenue and Market Share
9.5. AgSmarts Inc.
9.5.1. Business Overview
9.5.2. Component Portfolio
9.5.3. Strategic Developments
9.5.4. Revenue and Market Share
9.6. AgSense LLC
9.6.1. Business Overview
9.6.2. Component Portfolio
9.6.3. Strategic Developments
9.6.4. Revenue and Market Share
9.7. CropMetrics LLC
9.7.1. Business Overview
9.7.2. Component Portfolio
9.7.3. Strategic Developments
9.7.4. Revenue and Market Share
9.8. Boumatic LLC
9.8.1. Business Overview
9.8.2. Component Portfolio
9.8.3. Strategic Developments
9.8.4. Revenue and Market Share
9.9. Deere & Company
9.9.1. Business Overview
9.9.2. Component Portfolio
9.9.3. Strategic Developments
9.9.4. Revenue and Market Share
9.10. CropX Inc.
9.10.1. Business Overview
9.10.2. Component Portfolio
9.10.3. Strategic Developments
9.10.4. Revenue and Market Share
10. Global Precision Farming Market Competition, by Manufacturer
10.1. Global Precision Farming Revenue and Market Share by Manufacturer (2017-2017)
10.2. Global Precision Farming Price by Region (2017-2017)
10.3. Top 5 Precision Farming Manufacturer Market Share
10.4. Market Competition Trend
11. Precision Farming Market Forecast (2027-2023)
11.1. Global Precision Farming Revenue (Millions USD) and Growth Rate (2027-2023)
11.2. Precision Farming Market Forecast by Regions (2027-2023)
11.2.1. North America Precision Farming Market Forecast (2027-2023)
11.2.1.1. United States Precision Farming Market Forecast (2027-2023)
11.2.1.2. Canada Precision Farming Market Forecast (2027-2023)
11.2.1.3. Mexico Precision Farming Market Forecast (2027-2023)
11.2.2. Europe Precision Farming Market Forecast (2027-2023)
11.2.2.1. Germany Precision Farming Market Forecast (2027-2023)
11.2.2.2. United Kingdom Precision Farming Market Forecast (2027-2023)
11.2.2.3. France Precision Farming Market Forecast (2027-2023)
11.2.2.4. Russia Precision Farming Market Forecast (2027-2023)
11.2.2.5. Italy Precision Farming Market Forecast (2027-2023)
11.2.2.6. Rest of the Europe Precision Farming Market Forecast (2027-2023)
11.2.3. Asia-Pacific Precision Farming Market Forecast (2027-2023)
11.2.3.1. China Precision Farming Market Forecast (2027-2023)
11.2.3.2. Japan Precision Farming Market Forecast (2027-2023)
11.2.3.3. Korea Precision Farming Market Forecast (2027-2023)
11.2.3.4. India Precision Farming Market Forecast (2027-2023)
11.2.3.5. Southeast Asia Precision Farming Market Forecast (2027-2023)
11.2.3.6. Rest of Asia-Pacific Precision Farming Market Forecast (2027-2023)
11.2.4. South America Precision Farming Market Forecast (2027-2023)
11.2.4.1. Brazil Precision Farming Market Forecast (2027-2023)
11.2.4.2. Argentina Precision Farming Market Forecast (2027-2023)
11.2.4.3. Columbia Precision Farming Market Forecast (2027-2023)
11.2.4.4. Rest of South America Precision Farming Market Forecast (2027-2023)
11.2.5. Middle East and Africa Precision Farming Market Forecast (2027-2023)
11.2.5.1. Saudi Arabia Precision Farming Market Forecast (2027-2023)
11.2.5.2. UAE Precision Farming Market Forecast (2027-2023)
11.2.5.3. Egypt Precision Farming Market Forecast (2027-2023)
11.2.5.4. Nigeria Precision Farming Market Forecast (2027-2023)
11.2.5.5. South Africa Precision Farming Market Forecast (2027-2023)
11.2.5.6. Rest of MEA Precision Farming Market Forecast (2027-2023)
11.3. Precision Farming Market Forecast by Component (2027-2023)
11.3.1. Global Precision Farming Revenue Forecast by Component (2027-2023)
11.3.2. Global Precision Farming Revenue Market Share Forecast by Component (2027-2023)
11.4. Precision Farming Market Forecast by Application (2027-2023)
11.4.1. Global Precision Farming Revenue Forecast by Application (2027-2023)
11.4.2. Global Precision Farming Revenue Market Share Forecast by Application (2027-2023)
11.5. Precision Farming Market Forecast by Technology (2027-2023)
11.5.1. Global Precision Farming Revenue Forecast by Technology (2027-2023)
11.5.2. Global Precision Farming Revenue Market Share Forecast by Technology (2027-2023)
*You can glance through the list of Tables and Figures when you view the sample copy of Precision Farming 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
|
Data Collection Matrix |
Supply Side |
Demand Side |
|
Primary Data Sources |
|
|
|
Secondary Data Sources |
|
|
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
|
Qualitative Data |
Quantitative Data (2017-2025) |
|
|