1 Research Methodology
1.1 Research Process
Figure 1: Key Steps Involved in the Research Process
1.2 Problem Definition
Current demand as well as potential growth analysis of products in focus and the key applications from which this demand is generated. Conducting this analysis at a global, regional, and country-level.
1.3 Market Engineering
1.3.1 Bottom-up Method
188.8.131.52 Supply and Demand Side Analysis
Figure 3: Bottom-Up Methodology for Tracking the Supply Side and Demand Side
1.4.1 Step 1: Top-down Method
Figure 4: Top-down Method for Tracking the Demand
1.4.2 Step 2: Data Triangulation
Figure 5: Data Triangulation Method
1.5 Key Considerations and Assumptions in Market Engineering and Validation
- Detailed secondary research to ensure maximum coverage of manufacturers / suppliers operational in a country.
- 1Exact revenue information up to a certain extent will be extracted for each company from secondary sources and databases. Revenues specific to product / service / technology will then be estimated for each market player based on fact-based proxy indicators as well as primary inputs.
- Based on the classification, the average selling price (ASP) is calculated using the weighted average method.
- The currency conversion rate has been taken from the historical exchange rate of the Oanda and / or other relevant websites.
- Any economic downturn in the future has not been taken into consideration for the market estimation and forecast.
- The base currency considered for the market analysis is US$. Currencies other than the US$ have been converted to the US$ for all statistical calculations, considering the average conversion rate for that particular year.
- The term “product” in this document may be refer to “service” or “technology” as and where relevant.
- The term “manufacturers / suppliers” may refer to “service providers” or “technology providers” as and where relevant.
1.6 Research Tools and Data Sources
1.6.1 Primary Research
Figure 6: BIS Research Approach to Identify and Conduct Interviews with Relevant Experts
1.6.2 Secondary Research
BIS Research utilizes its propreitary tool, Insight Monk, to scan through the web and extract relevant content from credible sources.
Figure 7: Company, Industry, and Market Specific Insights
Studying patent data is of key importance while analyzing emerging markets. The BIS Methodology to conduct patent research is elaborated in the following figure.
Figure 8: Patent Study to Identify Technological Trends and Company-level Innovation Focus Areas