Smart Lighting Market by Component, Lighting Type and Application- Global Industry Analysis and Forecast to 2023
Published On : March 2018 Pages : 107 Category: Lighting & Display Technologies Report Code : SE03621
Industry Outlook and Trend Analysis
The Smart Lighting Market was worth USD 2.79 billion in 2017 and is expected to reach approximately USD 24.50 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 27.31% during the forecast period. The smart lighting market is driven by expanding demand for vitality effective lighting systems fundamentally focused at diminishing energy usage in business and industrial structures. Additionally, progressions of sensors and connecting technologies in the field of smart lighting are further boosting the market development. Moreover, expanding penetration of energy proficient lighting, for example, LED lights is further boosting the development of worldwide keen lighting market amid the conjecture time frame. Smart lighting systems installed with different sensors and remote technology can considerably decrease energy usage contrasted with conventional lighting systems. A standout amongst the most unmistakable uses of smart lighting incorporates industrial and commercial structures.
Component Outlook and Trend Analysis
On the basis of components the market is segmented into dimmer actuators, controllable breakers, sensors, relays, switch actuators, and others. On the basis of revenue, controllable breakers held dominant share of the keen lighting market in 2017 and is foreseen to proceed with its driving position all through the conjecture time frame. Interest for smart controllable breakers with cutting edge programmable highlights have ascribed to expanding substitution of customary breakers, driving the development of the section.
Lighting Type Outlook ad Trend Analysis
On the basis of lighting type the market is segmented into compact fluorescent lamps, LED lamps, fluorescent lamps, high power release lights and others. LED lamp fragment have the most elevated development potential amid the estimate time frame ascribed to the capacity of generously lessening energy consumption in end use applications, for example, industrial and commercial structures. Nonetheless, joining of LED lights requires high introductory venture because of lifted cost of LED lights contrasted with conventional lighting, for example, compact fluorescent lamps and fluorescent lamps.
Application Outlook and Trend Analysis
On the basis of application, the market has been portioned into residential, commercial and industrial, outdoor lighting, public and government buildings, and others. Commercial and industrial is the significant application sections of the smart lighting market took after by open and government structures, outdoor lightings, and residential structures. Additionally, the business and industrial portion is foreseen to keep up its administration amid the gauge time frame credited to surge sought after for vitality productive lighting in enterprises and business structures fundamentally went for decreasing energy consumption.
Regional Outlook ad Trend Analysis
Europe held the biggest share of the brilliant lighting market in 2017, while the market in North America is foreseen to be the second-biggest in the following years. Europe has a populace, a large portion of whom has an exclusive requirement of living. The general population in this area have the required money invest in smart homes, which are fitted with a few and inventive smart lighting systems. The high development of the market in APAC can be ascribed to the progressing modernization projects in the creating economies, for example, China and India, where the legislatures have affirmed the development of a few brilliant urban areas.
Competitive Insights
The leading players in the market are Acuity Brands, Legrand, Encelium Technologies Inc, Streetlight Vision, Philips, Honeywell Automation India Ltd, Zumtobel Group, Lutron Electronics Company, Digital Lumens and Osram. 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 Smart Lighting Market is segmented as follows-
By Component:
- Controllable Breakers
- Sensors
- Dimmer Actuators
- Relays
- Switch Actuators
- Others
By Lighting Type:
- Compact Fluorescent Lamp
- High Intensity Discharge Lamp
- LED Lamps
- Fluorescent Lamp
- Others
By Application:
- Outdoor Lighting
- Commercial & Industrial
- Public & Government Buildings
- Residential
- Others
By Region
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia Pacific
- Rest of the World
- Brazil
- South Africa
- Saudi Arabia
- United Arab Emirates
- Others
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
· Smart Lighting Market, By Component, Estimates and Forecast, 2014-2023($Billion)
o Controllable Breakers
o Sensors
o Dimmer Actuators
o Relays
o Switch Actuators
o Others
· Smart Lighting Market, By Lighting Type, Estimates and Forecast, 2014-2023($Billion)
o Compact Fluorescent Lamp
o High Intensity Discharge Lamp
o LED Lamps
o Fluorescent Lamp
o Others
· Smart Lighting Market, By Application, Estimates and Forecast, 2014-2023($Billion)
o Outdoor Lighting
o Commercial & Industrial
o Public & Government Buildings
o Residential
o Others
· Smart Lighting Market, By Region, Estimates and Forecast, 2014-2023($Billion)
o North America
§ North America Smart Lighting Market, By Country
§ North America Smart Lighting Market, By Component
§ North America Smart Lighting Market, By Lighting Type
§ North America Smart Lighting Market, By Application
o U.S. Smart Lighting Market, By Component
o U.S. Smart Lighting Market, By Lighting Type
o U.S. Smart Lighting Market, By Application
o Canada Smart Lighting Market, By Component
o Canada Smart Lighting Market, By Lighting Type
o Canada Smart Lighting Market, By Application
o Mexico Smart Lighting Market, By Component
o Mexico Smart Lighting Market, By Lighting Type
o Mexico Smart Lighting Market, By Application
o Europe
§ Europe Smart Lighting Market, By Country
§ Europe Smart Lighting Market, By Component
§ Europe Smart Lighting Market, By Lighting Type
§ Europe Smart Lighting Market, By Application
o Germany Smart Lighting Market, By Component
o Germany Smart Lighting Market, By Lighting Type
o Germany Smart Lighting Market, By Application
o France Smart Lighting Market, By Component
o France Smart Lighting Market, By Lighting Type
o France Smart Lighting Market, By Application
o UK Smart Lighting Market, By Component
o UK Smart Lighting Market, By Lighting Type
o UK Smart Lighting Market, By Application
o Italy Smart Lighting Market, By Component
o Italy Smart Lighting Market, By Lighting Type
o Italy Smart Lighting Market, By Application
o Spain Smart Lighting Market, By Component
o Spain Smart Lighting Market, By Lighting Type
o Spain Smart Lighting Market, By Application
o Rest of Europe Smart Lighting Market, By Component
o Rest of Europe Smart Lighting Market, By Lighting Type
o Rest of Europe Smart Lighting Market, By Application
o Asia-Pacific
§ Asia-Pacific Smart Lighting Market, By Country
§ Asia-Pacific Smart Lighting Market, By Component
§ Asia-Pacific Smart Lighting Market, By Lighting Type
§ Asia-Pacific Smart Lighting Market, By Application
o Japan Smart Lighting Market, By Component
o Japan Smart Lighting Market, By Lighting Type
o Japan Smart Lighting Market, By Application
o Australia Smart Lighting Market, By Component
o Australia Smart Lighting Market, By Lighting Type
o Australia Smart Lighting Market, By Application
o India Smart Lighting Market, By Component
o India Smart Lighting Market, By Lighting Type
o India Smart Lighting Market, By Application
o South Korea Smart Lighting Market, By Component
o South Korea Smart Lighting Market, By Lighting Type
o South Korea Smart Lighting Market, By Application
o Rest of Asia-Pacific Smart Lighting Market, By Component
o Rest of Asia-Pacific Smart Lighting Market, By Lighting Type
o Rest of Asia-Pacific Smart Lighting Market, By Application
o Rest of the World
§ Rest of the World Smart Lighting Market, By Country
§ Rest of the World Smart Lighting Market, By Component
§ Rest of the World Smart Lighting Market, By Lighting Type
§ Rest of the World Smart Lighting Market, By Application
o Brazil Smart Lighting Market, By Component
o Brazil Smart Lighting Market, By Lighting Type
o Brazil Smart Lighting Market, By Application
o South Africa Smart Lighting Market, By Component
o South Africa Smart Lighting Market, By Lighting Type
o South Africa Smart Lighting Market, By Application
o Saudi Arabia Smart Lighting Market, By Component
o Saudi Arabia Smart Lighting Market, By Lighting Type
o Saudi Arabia Smart Lighting Market, By Application
o Turkey Smart Lighting Market, By Component
o Turkey Smart Lighting Market, By Lighting Type
o Turkey Smart Lighting Market, By Application
o United Arab Emirates Smart Lighting Market, By Component
o United Arab Emirates Smart Lighting Market, By Lighting Type
o United Arab Emirates Smart Lighting Market, By Application
o Others Smart Lighting Market, By Component
o Others Smart Lighting Market, By Lighting Type
o Others Smart Lighting Market, By Application
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. Expanding demand for vitality effective lighting systems
3.2.1.2. Progressions of sensors and connecting technologies in the field of Smart Lighting
3.2.2. Restraints
3.2.3. Opportunities
3.2.3.1. Emerging Countries to Offer Lucrative Growth Opportunities
4. Smart Lighting Market, By Component
4.1. Introduction
4.2. Global Smart Lighting Sales, Revenue and Market Share By Component (2017-2017)
4.2.1. Global Smart Lighting Sales and Sales Share By Component (2017-2017)
4.2.2. Global Smart Lighting Revenue and Revenue Share By Component (2017-2017)
4.3. Smart Lighting Market Assessment and Forecast, By Component, 2017-2023
4.4. Controllable Breakers
4.4.1. Market Assessment and Forecast, By Region, 2017-2023($Billion)
4.5. Sensors
4.5.1. Market Assessment and Forecast, By Region, 2017-2023($Billion)
4.6. Dimmer Actuators
4.6.1. Market Assessment and Forecast, By Region, 2017-2023($Billion)
4.7. Relays
4.7.1. Market Assessment and Forecast, By Region, 2017-2023($Billion)
4.8. Switch Actuators
4.8.1. Market Assessment and Forecast, By Region, 2017-2023($Billion)
4.9. Others
4.9.1. Market Assessment and Forecast, By Region, 2017-2023($Billion)
5. Smart Lighting Market, By Lighting Type
5.1. Introduction
5.2. Global Smart Lighting Sales, Revenue and Market Share By Lighting Type (2017-2017)
5.2.1. Global Smart Lighting Sales and Sales Share By Lighting Type (2017-2017)
5.2.2. Global Smart Lighting Revenue and Revenue Share By Lighting Type (2017-2017)
5.3. Smart Lighting Market Assessment and Forecast, By Lighting Type, 2017-2023
5.4. Compact Fluorescent Lamp
5.4.1. Market Assessment and Forecast, By Region, 2017-2023($Billion)
5.5. High Intensity Discharge Lamp
5.5.1. Market Assessment and Forecast, By Region, 2017-2023($Billion)
5.6. LED Lamps
5.6.1. Market Assessment and Forecast, By Region, 2017-2023($Billion)
5.7. Fluorescent Lamp
5.7.1. Market Assessment and Forecast, By Region, 2017-2023($Billion)
5.8. Others
5.8.1. Market Assessment and Forecast, By Region, 2017-2023($Billion)
6. Smart Lighting Market, By Application
6.1. Introduction
6.2. Global Smart Lighting Sales, Revenue and Market Share By Application (2017-2017)
6.2.1. Global Smart Lighting Sales and Sales Share By Application (2017-2017)
6.2.2. Global Smart Lighting Revenue and Revenue Share By Application (2017-2017)
6.3. Smart Lighting Market Assessment and Forecast, By Application, 2017-2023($Billion)
6.4. Outdoor Lighting
6.4.1. Market Assessment and Forecast, By Region, 2017-2023($Billion)
6.5. Commercial & Industrial
6.5.1. Market Assessment and Forecast, By Region, 2017-2023($Billion)
6.6. Public & Government Buildings
6.6.1. Market Assessment and Forecast, By Region, 2017-2023($Billion)
6.7. Residential
6.7.1. Market Assessment and Forecast, By Region, 2017-2023($Billion)
6.8. Others
6.8.1. Market Assessment and Forecast, By Region, 2017-2023($Billion)
7. Smart Lighting Market, By Region
7.1. Introduction
7.2. Smart Lighting Market Assessment and Forecast, By Region, 2017-2023($Billion)
7.3. Global Smart Lighting Sales, Revenue and Market Share by Regions
7.3.1. Global Smart Lighting Sales by Regions (2017-2017)
7.3.2. Global Smart Lighting Revenue by Regions (2017-2017)
7.4. North America
7.4.1. North America Smart Lighting Sales and Growth Rate (2017-2017)
7.4.2. Market Assessment and Forecast, By Country, 2017-2023($Billion)
7.4.3. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
7.4.4. Market Assessment and Forecast, By Component, 2017-2023($Billion)
7.4.5. Market Assessment and Forecast, By Application, 2017-2023($Billion)
7.4.6. U.S.
7.4.6.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
7.4.6.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
7.4.6.3. Market Assessment and Forecast, By Application, 2017-2023($Billion)
7.4.7. Canada
7.4.7.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
7.4.7.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
7.4.7.3. Market Assessment and Forecast, By Application, 2017-2023($Billion)
7.4.8. Mexico
7.4.8.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
7.4.8.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
7.4.8.3. Market Assessment and Forecast, By Application, 2017-2023($Billion)
7.5. Europe
7.5.1. Europe Smart Lighting Sales and Growth Rate (2017-2017)
7.5.2. Market Assessment and Forecast, By Country, 2017-2023($Billion)
7.5.3. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
7.5.4. Market Assessment and Forecast, By Application, 2017-2023($Billion)
7.5.5. Market Assessment and Forecast, By Application, 2017-2023($Billion)
7.5.6. Germany
7.5.6.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
7.5.6.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
7.5.6.3. Market Assessment and Forecast, By Application, 2017-2023($Billion)
7.5.7. France
7.5.7.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
7.5.7.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
7.5.7.3. Market Assessment and Forecast, By Application, 2017-2023($Billion)
7.5.8. UK
7.5.8.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
7.5.8.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
7.5.8.3. Market Assessment and Forecast, By Application, 2017-2023($Billion)
7.5.9. Italy
7.5.9.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
7.5.9.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
7.5.9.3. Market Assessment and Forecast, By Application, 2017-2023($Billion)
7.5.10. Spain
7.5.10.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
7.5.10.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
7.5.10.3. Market Assessment and Forecast, By Application, 2017-2023($Billion)
7.5.11. Rest of Europe
7.5.11.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
7.5.11.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
7.5.11.3. Market Assessment and Forecast, By Application, 2017-2023($Billion)
8. Asia-Pacific
8.1.1. Asia-Pacific Smart Lighting Sales and Growth Rate (2017-2017)
8.1.2. Market Assessment and Forecast, By Country, 2017-2023($Billion)
8.1.3. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
8.1.4. Market Assessment and Forecast, By Component, 2017-2023($Billion)
8.1.5. Market Assessment and Forecast, By Application,2017-2023($Billion)
8.1.5.1. Japan
8.1.5.2. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
8.1.5.3. Market Assessment and Forecast, By Component, 2017-2023($Billion)
8.1.5.4. Market Assessment and Forecast, By Application,2017-2023($Billion)
8.1.6. China
8.1.6.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
8.1.6.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
8.1.6.3. Market Assessment and Forecast, By Application,2017-2023($Billion)
8.1.7. Australia
8.1.7.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
8.1.7.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
8.1.7.3. Market Assessment and Forecast, By Application,2017-2023($Billion)
8.1.8. India
8.1.8.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
8.1.8.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
8.1.8.3. Market Assessment and Forecast, By Application,2017-2023($Billion)
8.1.9. South Korea
8.1.9.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
8.1.9.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
8.1.9.3. Market Assessment and Forecast, By Application,2017-2023($Billion)
8.1.10. Rest of Asia-Pacific
8.1.10.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
8.1.10.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
8.1.10.3. Market Assessment and Forecast, By Application,2017-2023($Billion)
9. Rest of the World
9.1.1. Rest of the World Smart Lighting Sales and Growth Rate (2017-2017)
9.1.2. Market Assessment and Forecast, By Country, 2017-2023($Billion)
9.1.3. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
9.1.4. Market Assessment and Forecast, By Application,2017-2023($Billion)
9.1.5. Market Assessment and Forecast, By Application,2017-2023($Billion)
9.1.6. Brazil
9.1.6.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
9.1.6.2. Market Assessment and Forecast, By Component , 2017-2023($Billion)
9.1.6.3. Market Assessment and Forecast, By Application,2017-2023($Billion)
9.1.7. Turkey
9.1.7.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
9.1.7.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
9.1.7.3. Market Assessment and Forecast, By Application,2017-2023($Billion)
9.1.8. Saudi Arabia
9.1.8.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
9.1.8.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
9.1.8.3. Market Assessment and Forecast, By Application,2017-2023($Billion)
9.1.9. South Africa
9.1.9.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
9.1.9.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
9.1.9.3. Market Assessment and Forecast, By Application,2017-2023($Billion)
9.1.10. United Arab Emirates
9.1.10.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
9.1.10.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
9.1.10.3. Market Assessment and Forecast, By Application,2017-2023($Billion)
9.1.11. Others
9.1.11.1. Market Assessment and Forecast, By Lighting Type, 2017-2023($Billion)
9.1.11.2. Market Assessment and Forecast, By Component, 2017-2023($Billion)
9.1.11.3. Market Assessment and Forecast, By Application,2017-2023($Billion)
10. Company Profiles
10.1. Acuity Brands
10.1.1. Business Overview
10.1.2. Product Portfolio
10.1.3. Strategic Developments
10.1.4. Smart Lighting Sales, Revenue and Market Share
10.2. Legrand
10.2.1. Business Overview
10.2.2. Product Portfolio
10.2.3. Strategic Developments
10.2.4. Smart Lighting Sales, Revenue and Market Share
10.3. Encelium Technologies Inc
10.3.1. Business Overview
10.3.2. Product Portfolio
10.3.3. Strategic Developments
10.3.4. Smart Lighting Sales, Revenue and Market Share
10.4. Streetlight Vision
10.4.1. Business Overview
10.4.2. Product Portfolio
10.4.3. Strategic Developments
10.4.4. Smart Lighting Sales, Revenue and Market Share
10.5. Philips
10.5.1. Business Overview
10.5.2. Product Portfolio
10.5.3. Strategic Developments
10.5.4. Smart Lighting Sales, Revenue and Market Share
10.6. Honeywell Automation India Ltd
10.6.1. Business Overview
10.6.2. Product Portfolio
10.6.3. Strategic Developments
10.6.4. Smart Lighting Sales, Revenue and Market Share
10.7. Zumtobel Group
10.7.1. Business Overview
10.7.2. Product Portfolio
10.7.3. Strategic Developments
10.7.4. Smart Lighting Sales, Revenue and Market Share
10.8. Lutron Electronics Company
10.8.1. Business Overview
10.8.2. Product Portfolio
10.8.3. Strategic Developments
10.8.4. Smart Lighting Sales, Revenue and Market Share
10.9. Digital Lumens
10.9.1. Business Overview
10.9.2. Product Portfolio
10.9.3. Strategic Developments
10.9.4. Smart Lighting Sales, Revenue and Market Share
10.10.Osram
10.10.1. Business Overview
10.10.2. Product Portfolio
10.10.3. Strategic Developments
10.10.4. Smart Lighting Sales, Revenue and Market Share
11. Global Smart Lighting Market Competition, by Manufacturer
11.1. Global Smart Lighting Sales and Market Share by Manufacturer (2017-2017)
11.2. Global Smart Lighting Revenue and Market Share by Manufacturer (2017-2017)
11.3. Top 5 Smart Lighting Manufacturer Market Share
11.4. Market Competition Trend
List of Tables and Figures
You can glance through the list of Tables and Figures when you view the sample copy of Smart Lighting 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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