Ticket Machine Market By Product (vending Machine, Kiosk Counter, Hand Held Electronic Ticket Machine), Component (software And Hardware) And Application (buses, Railways, Entertainment, Parking Area, Sports, Other Applications) - Global Industry Analysis And Forecast To 2023
Published On : June 2022 Pages : 187 Category: Emerging & Next Generation Technologies Report Code : SE061063
Industry Outlook and Trend Analysis
The Ticket Machine Market was worth USD 5.78 billion in 2017 and is expected to reach approximately USD 11.40 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 7.85% during the forecast period. Ticket machines are the machines utilized for automatic generation of tickets commonly for public access. Ticket machines include information and get together unit for payment, ticket printer, control unit, and operating devices. Ticket machines provide the chance to take simple and speedy ticket purchases at public places as another option to make use of ticket offices. This is a standout amongst the most mainstream method to purchase tickets. Ticket machines are intended for in-vehicle use, for example, hand held ticket machines or they are settled at stations or at public places, for example, railroads.
Drivers and Restraints
The real driving variable to use the ticket machine is efficiency and self-operated at most of the places. Because of the advent of the ticket machine, the need to print the tickets has been decreased. This has likewise wiped out the cost of overheads transport and account team to monitor the procedure. The information is as of now feed in to the ticket machines, and toward the day's end the ticket machines are synchronized at the warehouse or with station. One of the variables that inhibit the development of the ticket machine market is the failure in its working system. The other factor that limits the development of this market is the high introductory investments. Nonetheless, with the offices to work with no administrator and simplicity to work these ticket machines, helps the ticket machine market.
Market Segmentation
The Ticket Machine Market is segmented on the basis of Product, Component and Application. Based on product the market is segmented into vending machine, kiosk counter and hand held electronic ticket machine. Based on component the market is segmented into software and hardware. In terms of application the market is segmented into buses, railways, entertainment, parking area, sports and others.
Regional Outlook and Trend Analysis
North America is anticipated to hold a major market share in ticket machine market. However, the Asia-Pacific region is foreseen to emerge as the one of the fastest developing market in upcoming years owing to high demand from developing economies such as China, India and Japan.
Competitive Insights
The leading players in the market are Genfare, METRIC Group, Ampetronic, Shenzhen Lean Kiosk Systems Co Ltd, Metric Group, Baanto International Ltd, Scheidt & Bachmann, Softland India Limited, Wincor Nixdorf, Sigma S.p.A and Omron. 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 Ticket Machine Market is segmented as follows-
By Product
- Vending Machine
- Kiosk Counter
- Hand Held Electronic Ticket Machine
By Component
- Software
- Hardware
By Application
- Buses
- Railways
- Entertainment
- Parking Area
- Sports
- Others
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
· Ticket Machine Market, By Product, Estimates and Forecast, 2014-2023($Billion)
o Vending Machine
o Kiosk Counter
o Hand Held Electronic Ticket Machine
· Ticket Machine Market, By Component, Estimates and Forecast, 2014-2023($Billion)
o Software
o Hardware
· Ticket Machine Market, By Application, Estimates and Forecast, 2014-2023($Billion)
o Buses
o Railways
o Entertainment
o Parking Area
o Sports
o Other Applications
· Ticket Machine Market, By Region, Estimates and Forecast, 2014-2023($Billion)
o North America
§ North America Ticket Machine Market, By Country
o U.S. Ticket Machine Market
o Canada Ticket Machine Market
o Mexico Ticket Machine Market
o Europe
§ Europe Ticket Machine Market, By Country
o Germany Ticket Machine Market
o UK Ticket Machine Market
o France Ticket Machine Market
o Russia Ticket Machine Market
o Italy Ticket Machine Market
o Rest of Europe Ticket Machine Market
o Asia-Pacific
§ Asia-Pacific Ticket Machine Market, By Country
o China Ticket Machine Market
o Japan Ticket Machine Market
o South Korea Ticket Machine Market
o India Ticket Machine Market
o Southeast Asia Ticket Machine Market
o Rest of Asia-Pacific Ticket Machine Market
o South America
§ South America Ticket Machine Market
o Brazil Ticket Machine Market
o Argentina Ticket Machine Market
o Columbia Ticket Machine Market
o South Africa Ticket Machine Market
o Rest of South America Ticket Machine Market
o Middle East and Africa
§ Middle East and Africa Ticket Machine Market
o Saudi Arabia Ticket Machine Market
o UAE Ticket Machine Market
o Egypt Ticket Machine Market
o Nigeria Ticket Machine Market
o South Africa Ticket Machine Market
o Rest of MEA Ticket Machine 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. Ticket Machine Market, By Product
5.1. Introduction
5.2. Global Ticket Machine Sales, Revenue and Market Share by Product (2017-2027)
5.2.1. Global Ticket Machine Sales and Sales Share by Product (2017-2027)
5.2.2. Global Ticket Machine Revenue and Revenue Share by Product (2017-2027)
5.3. Vending Machine
5.3.1. Global Vending Machine Sales and Growth Rate (2017-2027)
5.4. Kiosk Counter
5.4.1. Global Desktop Ticket Machine Sales and Growth Rate (2017-2027)
5.5. Hand Held Electronic Ticket Machine
5.5.1. Global Hand Held Electronic Ticket Machine Sales and Growth Rate (2017-2027)
6. Ticket Machine Market, By Component
6.1. Introduction
6.2. Global Ticket Machine Sales, Revenue and Market Share by Component (2017-2027)
6.2.1. Global Ticket Machine Sales and Sales Share by Component (2017-2027)
6.2.2. Global Ticket Machine Revenue and Revenue Share by Component (2017-2027)
6.3. Software
6.3.1. Global Software Sales and Growth Rate (2017-2027)
6.4. Hardware
6.4.1. Global Hardware Sales and Growth Rate (2017-2027)
7. Ticket Machine Market, By Application
7.1. Introduction
7.2. Global Ticket Machine Sales, Revenue and Market Share by Application (2017-2027)
7.2.1. Global Ticket Machine Sales and Sales Share by Application (2017-2027)
7.2.2. Global Ticket Machine Revenue and Revenue Share by Application (2017-2027)
7.3. Buses
7.3.1. Global Buses Sales and Growth Rate (2017-2027)
7.4. Railways
7.4.1. Global Railways Sales and Growth Rate (2017-2027)
7.5. Entertainment
7.5.1. Global Entertainment Sales and Growth Rate (2017-2027)
7.6. Parking Area
7.6.1. Global Parking Area Sales and Growth Rate (2017-2027)
7.7. Sports
7.7.1. Global Sports Sales and Growth Rate (2017-2027)
7.8. Other Applications
7.8.1. Global Other Applications Sales and Growth Rate (2017-2027)
8. Ticket Machine Market, By Region
8.1. Introduction
8.2. Global Ticket Machine Sales, Revenue and Market Share by Regions
8.2.1. Global Ticket Machine Sales by Regions (2017-2027)
8.2.2. Global Ticket Machine Revenue by Regions (2017-2027)
8.3. North America Ticket Machine by Countries
8.3.1. North America Ticket Machine Sales and Growth Rate (2017-2027)
8.3.2. North America Ticket Machine Revenue and Growth Rate (2017-2027)
8.3.3. North America Ticket Machine Sales by Countries (2017-2027)
8.3.4. North America Ticket Machine Revenue (Million USD) by Countries (2017-2027)
8.3.5. U.S.
8.3.5.1. United States Ticket Machine Sales and Growth Rate (2017-2027)
8.3.5.2. United States Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.3.6. Canada
8.3.6.1. Canada Ticket Machine Sales and Growth Rate (2017-2027)
8.3.6.2. Canada Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.3.7. Mexico
8.3.7.1. Mexico Ticket Machine Sales and Growth Rate (2017-2027)
8.3.7.2. Mexico Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.4. Europe Ticket Machine by Countries
8.4.1. Europe Ticket Machine Sales and Growth Rate (2017-2027)
8.4.2. Europe Ticket Machine Revenue and Growth Rate (2017-2027)
8.4.3. Europe Ticket Machine Sales by Countries (2017-2027)
8.4.4. Europe Ticket Machine Revenue (Million USD) by Countries (2017-2027)
8.4.5. Germany
8.4.5.1. Germany Ticket Machine Sales and Growth Rate (2017-2027)
8.4.5.2. Germany Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.6. UK
8.4.6.1. UK Ticket Machine Sales and Growth Rate (2017-2027)
8.4.6.2. UK Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.7. France
8.4.7.1. France Ticket Machine Sales and Growth Rate (2017-2027)
8.4.7.2. France Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.8. Russia
8.4.8.1. Russia Ticket Machine Sales and Growth Rate (2017-2027)
8.4.8.2. Russia Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.9. Italy
8.4.9.1. Italy Ticket Machine Sales and Growth Rate (2017-2027)
8.4.9.2. Italy Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.10. Rest of Europe
8.4.10.1. Rest of Europe Ticket Machine Sales and Growth Rate (2017-2027)
8.4.10.2. Rest of Europe Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.5. Asia-Pacific
8.5.1. Asia-Pacific Ticket Machine Sales and Growth Rate (2017-2027)
8.5.2. Asia-Pacific Ticket Machine Revenue and Growth Rate (2017-2027)
8.5.3. Asia-Pacific Ticket Machine Sales by Countries (2017-2027)
8.5.4. Asia-Pacific Ticket Machine Revenue (Million USD) by Countries (2017-2027)
8.5.5. China
8.5.5.1. China Ticket Machine Sales and Growth Rate (2017-2027)
8.5.5.2. China Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.6. Japan
8.5.6.1. Japan Ticket Machine Sales and Growth Rate (2017-2027)
8.5.6.2. Japan Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.6.3.
8.5.7. Korea
8.5.7.1. Korea Ticket Machine Sales and Growth Rate (2017-2027)
8.5.7.2. Korea Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.8. India
8.5.8.1. India Ticket Machine Sales and Growth Rate (2017-2027)
8.5.8.2. India Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.9. Southeast Asia
8.5.9.1. Southeast Asia Ticket Machine Sales and Growth Rate (2017-2027)
8.5.9.2. Southeast Asia Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.10. Rest of Asia-Pacific
8.5.10.1. Rest of Asia-Pacific Ticket Machine Sales and Growth Rate (2017-2027)
8.5.10.2. Rest of Asia-Pacific Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.6. South America
8.6.1. South America Ticket Machine Sales and Growth Rate (2017-2027)
8.6.2. South America Ticket Machine Revenue and Growth Rate (2017-2027)
8.6.3. South America Ticket Machine Sales by Countries (2017-2027)
8.6.4. South America Ticket Machine Revenue (Million USD) by Countries (2017-2027)
8.6.5. Brazil
8.6.5.1. Brazil Ticket Machine Sales and Growth Rate (2017-2027)
8.6.5.2. Brazil Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.6. Argentina
8.6.6.1. Argentina Ticket Machine Sales and Growth Rate (2017-2027)
8.6.6.2. Argentina Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.7. Columbia
8.6.7.1. Columbia Ticket Machine Sales and Growth Rate (2017-2027)
8.6.7.2. Columbia Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.8. Rest of South America
8.6.8.1. Rest of South America Ticket Machine Sales and Growth Rate (2017-2027)
8.6.8.2. Rest of South America Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.7. Middle East and Africa
8.7.1. Middle East and Africa Ticket Machine Sales and Growth Rate (2017-2027)
8.7.2. Middle East and Africa Ticket Machine Revenue and Growth Rate (2017-2027)
8.7.3. Middle East and Africa Ticket Machine Sales by Countries (2017-2027)
8.7.4. Middle East and Africa Ticket Machine Revenue (Million USD) by Countries (2017-2027)
8.7.5. Saudi Arabia
8.7.5.1. Saudi Arabia Ticket Machine Sales and Growth Rate (2017-2027)
8.7.5.2. Saudi Arabia Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.6. United Arab Emirates
8.7.6.1. United Arab Emirates Ticket Machine Sales and Growth Rate (2017-2027)
8.7.6.2. United Arab Emirates Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.7. Egypt
8.7.7.1. Egypt Ticket Machine Sales and Growth Rate (2017-2027)
8.7.7.2. Egypt Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.8. Nigeria
8.7.8.1. Nigeria Ticket Machine Sales and Growth Rate (2017-2027)
8.7.8.2. Nigeria Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.9. South Africa
8.7.9.1. South Africa Ticket Machine Sales and Growth Rate (2017-2027)
8.7.9.2. South Africa Ticket Machine 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 Ticket Machine Sales and Growth Rate (2017-2027)
8.7.10.2. Rest of Middle East and Africa Ticket Machine Revenue (Millions USD) and Growth Rate (2017-2027)
9. Company Profiles
9.1. Genfare
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. METRIC Group
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. Ampetronic
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. Shenzhen Lean Kiosk Systems Co Ltd
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. Metric Group
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. Baanto International Ltd
9.6.1. Business Overview
9.6.2. Product Portfolio
9.6.3. Strategic Developments
9.6.4. Sales, Revenue and Market Share
9.7. Scheidt & Bachmann
9.7.1. Business Overview
9.7.2. Product Portfolio
9.7.3. Strategic Developments
9.7.4. Sales, Revenue and Market Share
9.8. Softland India Limited
9.8.1. Business Overview
9.8.2. Product Portfolio
9.8.3. Strategic Developments
9.8.4. Sales, Revenue and Market Share
9.9. Wincor Nixdorf
9.9.1. Business Overview
9.9.2. Product Portfolio
9.9.3. Strategic Developments
9.9.4. Sales, Revenue and Market Share
9.10. Sigma S.p.A
9.10.1. Business Overview
9.10.2. Product Portfolio
9.10.3. Strategic Developments
9.10.4. Sales, Revenue and Market Share
9.11. Omron
9.11.1. Business Overview
9.11.2. Product Portfolio
9.11.3. Strategic Developments
9.11.4. Sales, Revenue and Market Share
10. Global Ticket Machine Market Competition, by Manufacturer
10.1. Global Ticket Machine Sales and Market Share by Manufacturer (2017-2017)
10.2. Global Ticket Machine Revenue and Market Share by Manufacturer (2017-2017)
10.3. Global Ticket Machine Price by Region (2017-2017)
10.4. Top 5 Ticket Machine Manufacturer Market Share
10.5. Market Competition Trend
11. Ticket Machine Market Forecast (2027-2023)
11.1. Global Ticket Machine Sales, Revenue (Millions USD) and Growth Rate (2027-2023)
11.2. Ticket Machine Market Forecast by Regions (2027-2023)
11.2.1. North America Ticket Machine Market Forecast (2027-2023)
11.2.1.1. United States Ticket Machine Market Forecast (2027-2023)
11.2.1.2. Canada Ticket Machine Market Forecast (2027-2023)
11.2.1.3. Mexico Ticket Machine Market Forecast (2027-2023)
11.2.2. Europe Ticket Machine Market Forecast (2027-2023)
11.2.2.1. Germany Ticket Machine Market Forecast (2027-2023)
11.2.2.2. United Kingdom Ticket Machine Market Forecast (2027-2023)
11.2.2.3. France Ticket Machine Market Forecast (2027-2023)
11.2.2.4. Russia Ticket Machine Market Forecast (2027-2023)
11.2.2.5. Italy Ticket Machine Market Forecast (2027-2023)
11.2.2.6. Rest of the Europe Ticket Machine Market Forecast (2027-2023)
11.2.3. Asia-Pacific Ticket Machine Market Forecast (2027-2023)
11.2.3.1. China Ticket Machine Market Forecast (2027-2023)
11.2.3.2. Japan Ticket Machine Market Forecast (2027-2023)
11.2.3.3. Korea Ticket Machine Market Forecast (2027-2023)
11.2.3.4. India Ticket Machine Market Forecast (2027-2023)
11.2.3.5. Southeast Asia Ticket Machine Market Forecast (2027-2023)
11.2.3.6. Rest of Asia-Pacific Ticket Machine Market Forecast (2027-2023)
11.2.4. South America Ticket Machine Market Forecast (2027-2023)
11.2.4.1. Brazil Ticket Machine Market Forecast (2027-2023)
11.2.4.2. Argentina Ticket Machine Market Forecast (2027-2023)
11.2.4.3. Columbia Ticket Machine Market Forecast (2027-2023)
11.2.4.4. Rest of South America Ticket Machine Market Forecast (2027-2023)
11.2.5. Middle East and Africa Ticket Machine Market Forecast (2027-2023)
11.2.5.1. Saudi Arabia Ticket Machine Market Forecast (2027-2023)
11.2.5.2. UAE Ticket Machine Market Forecast (2027-2023)
11.2.5.3. Egypt Ticket Machine Market Forecast (2027-2023)
11.2.5.4. Nigeria Ticket Machine Market Forecast (2027-2023)
11.2.5.5. South Africa Ticket Machine Market Forecast (2027-2023)
11.2.5.6. Rest of MEA Ticket Machine Market Forecast (2027-2023)
11.3. Ticket Machine Market Forecast by Product (2027-2023)
11.3.1. Global Ticket Machine Sales Forecast by Product (2027-2023)
11.3.2. Global Ticket Machine Sales Market Share Forecast by Product (2027-2023)
11.4. Ticket Machine Market Forecast by Component (2027-2023)
11.4.1. Global Ticket Machine Sales Forecast by Component (2027-2023)
11.4.2. Global Ticket Machine Sales Market Share Forecast by Component (2027-2023)
11.5. Ticket Machine Market Forecast by Application (2027-2023)
11.5.1. Global Ticket Machine Sales Forecast by Application (2027-2023)
11.5.2. Global Ticket Machine Sales Market Share Forecast by Application (2027-2023)
List of Tables
*You can glance through the list of Tables and Figures when you view the sample copy of Ticket Machine 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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