Power Tool Batteries Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, Japan, Germany, UK - Size and Forecast 2023-2027

Published: Nov 2023

Pages: 169

SKU: IRTNTR45819

Snapshot

Power Tool Batteries Market Forecast 2023-2027

The power tool batteries market size is forecast to increase by USD 1.52 billion and is estimated to grow at a CAGR of 8.1% between 2023 and 2027. The report includes historic market data from 2017-2021. The market is witnessing a growing demand for the li-ion batteries replacing NiCd technology, the integration of 3D printing technology, and the rise in EV sales.

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Market Trends

A key factor shaping the market growth is the integration of 3D printing technology. There is increasing adoption of 3D printing technology for prosthetics, full-scale clothing, and electronic products, even though they have huge potential for use in the industrial sector. The technological advancement in 3D printing technology is expected to fuel the demand.

As a result, several manufacturers are increasingly emphasizing integrating 3D printing technology into their equipment to introduce new products in the market. Additionally, the development cost required for manufacturing using 3D printing is only half when compared to traditional manufacturing techniques. Hence, such factors are expected to drive market growth during the forecast period.

Largest-Growing Segments

Industrial Segment

The industrial segment is estimated to witness significant growth during the forecast period. Some of the key industrial sectors that are widely adopting include construction, mining, chemical manufacturing, and semiconductor fabrication. There is an increasing demand for uninterrupted power supply due to rapid industrialization across the world, especially in developing countries such as China, Brazil, and India. Additionally, factors such as an increase in construction activities and growing spending globally are expected to fuel the demand for this segment.

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Furthermore, there is a growing demand in the industrial sector. Uninterrupted power supply is a crucial factor for any industrial sector and industries rely on these to prevent losses resulting from the non-operation of the plant and machinery due to the unavailability of electricity. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the global market growth during the forecast period.

Market Regional Analysis

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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main factors that is significantly driving the global market in North America is the increase in investments in industries such as construction, automobile, and aerospace. Additionally, the growth of the construction sector in the region is expected to fuel the demand in North America.

In addition, some of the main countries in North America which have significant construction activities both in the residential and commercial sectors include the US and Canada. Furthermore, the rise in demand from automobile and construction industries in these countries is fuelling capital investment projects such as free trade agreements. Hence, such factors are expected to drive the global market growth in the region during the forecast period.

Market Dynamic

Key Driver

One of the key factors driving the market growth is the declining Li-ion battery prices. As the demand for Li-ion batteries is growing significantly, it will impact the market for lead acid batteries as the only differentiating factor between the two batteries which determines their preference is the price. Additionally, there is an increase in investment in technological advances by Li-ion battery manufacturing to reduce the prices of batteries.

Furthermore, Li-ion batter is being promoted by several companies which will positively impact the market growth. Moreover, there has been a decline in Li-ion battery prices an average of 23% per year since 2010. Additionally, there is a decline in energy storage system cost which has led to a decrease in installation cost by 17% from USD 3,400/kWh to USD 1,600/kWh. Hence, such factors are expected to drive market growth during the forecast period.

Significance Challenges

The high cost of power tool batteries equipment is one of the key challenges hindering the market growth. The main application is for the easy and efficient movement of goods. Also, these are equipped with several capabilities and features to enhance operational efficiency. The main advantage of this is that they eliminate the risks of mishandling high-speed due to factors such as increased usability, accurate controls, and foolproof technology.

However, these benefits and advantages offered come at a high price. The high cost associated with these can be attributed to the high cost of consumables, along with their high maintenance costs. As a result, it is expected to have a decline in the adoption of these by small-scale industries. Hence, such factors are expected to hinder market growth during the forecast period.

Market Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Major Power Tool Batteries Market Companies

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Atlas Copco AB: The company offers Stihl lithium ion pro batteries.

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027.

End-user Outlook
- Industrial
- Commercial
- Residential
Type Outlook
- Li-ion battery
- Nickel battery
Region Outlook
- North America
  - The U.S.
  - Canada
- Europe
  - U.K.
  - Germany
  - France
  - Rest of Europe
- APAC
  - China
  - India
- South America
  - Chile
  - Brazil
  - Argentina
- Middle East & Africa
  - Saudi Arabia
  - South Africa
  - Rest of the Middle East & Africa

Market Analyst Overview

The market is witnessing significant growth, driven by the increasing demand for battery power tools in the automotive and manufacturing sectors. Professional users and individual consumers are embracing DIY techniques, often turning to platforms like YouTube for guidance. OEMs are focusing on brushless battery power tools, offering a low-cost alternative to traditional corded power tools.

Rechargeable batteries are dominating the market, especially with advancements in brushless motor technology, offering higher efficiency and longer lifespan compared to brushed motors. This trend is evident in a wide range of tools, including drills, saws, impact wrenches, and grinders.

The market is witnessing business expansion and collaborations as key players like Apex Tool Group strive to strengthen their product positioning and competitive outlook. As the market evolves, stakeholders are focusing on product launch and innovation, especially in industrial applications where reliability and performance are crucial.

Power Tool Batteries Market Scope
Report Coverage	Details
Page number	169
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 8.1%
Market growth 2023-2027	USD 1.52 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	6.56
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 36%
Key countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Atlas Copco AB, BYD Co. Ltd., E One Moli Energy Corp., EGO, GS Yuasa Corp., Hilti AG, Husqvarna AB, Ingersoll Rand Inc., LG Chem Ltd., Makita Corp., Panasonic Holdings Corp., Renesas Electronics Corp., Robert Bosch GmbH, Samsung SDI Co. Ltd., Snap On Inc., Techtronic Industries Co. Ltd., Wanxiang Group, ANDREAS STIHL AG and Co. KG, Honda Motor Co. Ltd., and Stanley Black and Decker Inc.
Market dynamics	Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
Precise estimation of the size of the market size and its contribution to the parent market
Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive market analysis and report on the factors that will challenge the market research and growth of market vendors

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global power tool batteries market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on global power tool batteries market 2017 - 2021 ($ billion)

4.2 End-user Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ billion)

4.3 Type Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ billion)

4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

6.1 Market segments
- Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
- Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

6.2 Comparison by End-user
- Exhibit 32: Chart on Comparison by End-user
- Exhibit 33: Data Table on Comparison by End-user

6.3 Industrial - Market size and forecast 2022-2027
- Exhibit 34: Chart on Industrial - Market size and forecast 2022-2027 ($ billion)
- Exhibit 35: Data Table on Industrial - Market size and forecast 2022-2027 ($ billion)
- Exhibit 36: Chart on Industrial - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Industrial - Year-over-year growth 2022-2027 (%)

6.4 Commercial - Market size and forecast 2022-2027
- Exhibit 38: Chart on Commercial - Market size and forecast 2022-2027 ($ billion)
- Exhibit 39: Data Table on Commercial - Market size and forecast 2022-2027 ($ billion)
- Exhibit 40: Chart on Commercial - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Commercial - Year-over-year growth 2022-2027 (%)

6.5 Residential - Market size and forecast 2022-2027
- Exhibit 42: Chart on Residential - Market size and forecast 2022-2027 ($ billion)
- Exhibit 43: Data Table on Residential - Market size and forecast 2022-2027 ($ billion)
- Exhibit 44: Chart on Residential - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Residential - Year-over-year growth 2022-2027 (%)

6.6 Market opportunity by End-user
- Exhibit 46: Market opportunity by End-user ($ billion)
- Exhibit 47: Data Table on Market opportunity by End-user ($ billion)

7 Market Segmentation by Type

7.1 Market segments
- Exhibit 48: Chart on Type - Market share 2022-2027 (%)
- Exhibit 49: Data Table on Type - Market share 2022-2027 (%)

7.2 Comparison by Type
- Exhibit 50: Chart on Comparison by Type
- Exhibit 51: Data Table on Comparison by Type

7.3 Li-ion battery - Market size and forecast 2022-2027
- Exhibit 52: Chart on Li-ion battery - Market size and forecast 2022-2027 ($ billion)
- Exhibit 53: Data Table on Li-ion battery - Market size and forecast 2022-2027 ($ billion)
- Exhibit 54: Chart on Li-ion battery - Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Li-ion battery - Year-over-year growth 2022-2027 (%)

7.4 Nickel battery - Market size and forecast 2022-2027
- Exhibit 56: Chart on Nickel battery - Market size and forecast 2022-2027 ($ billion)
- Exhibit 57: Data Table on Nickel battery - Market size and forecast 2022-2027 ($ billion)
- Exhibit 58: Chart on Nickel battery - Year-over-year growth 2022-2027 (%)
- Exhibit 59: Data Table on Nickel battery - Year-over-year growth 2022-2027 (%)

7.5 Market opportunity by Type
- Exhibit 60: Market opportunity by Type ($ billion)
- Exhibit 61: Data Table on Market opportunity by Type ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Exhibit 63: Chart on Market share by geography 2022-2027 (%)
- Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison
- Exhibit 65: Chart on Geographic comparison
- Exhibit 66: Data Table on Geographic comparison

9.3 North America - Market size and forecast 2022-2027
- Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.4 Europe - Market size and forecast 2022-2027
- Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.5 APAC - Market size and forecast 2022-2027
- Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
- Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
- Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

9.6 South America - Market size and forecast 2022-2027
- Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

9.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
- Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
- Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

9.8 US - Market size and forecast 2022-2027
- Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

9.9 Germany - Market size and forecast 2022-2027
- Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)

9.10 UK - Market size and forecast 2022-2027
- Exhibit 95: Chart on UK - Market size and forecast 2022-2027 ($ billion)
- Exhibit 96: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
- Exhibit 97: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on UK - Year-over-year growth 2022-2027 (%)

9.11 China - Market size and forecast 2022-2027
- Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)

9.12 Japan - Market size and forecast 2022-2027
- Exhibit 103: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
- Exhibit 104: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
- Exhibit 105: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 106: Data Table on Japan - Year-over-year growth 2022-2027 (%)

9.13 Market opportunity by geography
- Exhibit 107: Market opportunity by geography ($ billion)
- Exhibit 108: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges
- Exhibit 109: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape
- Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption
- Exhibit 111: Overview on factors of disruption

11.4 Industry risks
- Exhibit 112: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
- Exhibit 113: Vendors covered

12.2 Market positioning of vendors
- Exhibit 114: Matrix on vendor position and classification

12.3 ANDREAS STIHL AG and Co. KG
- Exhibit 115: ANDREAS STIHL AG and Co. KG - Overview
- Exhibit 116: ANDREAS STIHL AG and Co. KG - Product / Service
- Exhibit 117: ANDREAS STIHL AG and Co. KG - Key news
- Exhibit 118: ANDREAS STIHL AG and Co. KG - Key offerings

12.4 BYD Co. Ltd.
- Exhibit 119: BYD Co. Ltd. - Overview
- Exhibit 120: BYD Co. Ltd. - Business segments
- Exhibit 121: BYD Co. Ltd. - Key news
- Exhibit 122: BYD Co. Ltd. - Key offerings
- Exhibit 123: BYD Co. Ltd. - Segment focus

12.5 E One Moli Energy Corp.
- Exhibit 124: E One Moli Energy Corp. - Overview
- Exhibit 125: E One Moli Energy Corp. - Product / Service
- Exhibit 126: E One Moli Energy Corp. - Key offerings

12.6 Hilti AG
- Exhibit 127: Hilti AG - Overview
- Exhibit 128: Hilti AG - Product / Service
- Exhibit 129: Hilti AG - Key offerings

12.7 Husqvarna AB
- Exhibit 130: Husqvarna AB - Overview
- Exhibit 131: Husqvarna AB - Business segments
- Exhibit 132: Husqvarna AB - Key news
- Exhibit 133: Husqvarna AB - Key offerings
- Exhibit 134: Husqvarna AB - Segment focus

12.8 Ingersoll Rand Inc.
- Exhibit 135: Ingersoll Rand Inc. - Overview
- Exhibit 136: Ingersoll Rand Inc. - Business segments
- Exhibit 137: Ingersoll Rand Inc. - Key offerings
- Exhibit 138: Ingersoll Rand Inc. - Segment focus

12.9 LG Chem Ltd.
- Exhibit 139: LG Chem Ltd. - Overview
- Exhibit 140: LG Chem Ltd. - Business segments
- Exhibit 141: LG Chem Ltd. - Key news
- Exhibit 142: LG Chem Ltd. - Key offerings
- Exhibit 143: LG Chem Ltd. - Segment focus

12.10 Makita Corp.
- Exhibit 144: Makita Corp. - Overview
- Exhibit 145: Makita Corp. - Business segments
- Exhibit 146: Makita Corp. - Key offerings
- Exhibit 147: Makita Corp. - Segment focus

12.11 Panasonic Holdings Corp.
- Exhibit 148: Panasonic Holdings Corp. - Overview
- Exhibit 149: Panasonic Holdings Corp. - Product / Service
- Exhibit 150: Panasonic Holdings Corp. - Key news
- Exhibit 151: Panasonic Holdings Corp. - Key offerings

12.12 Robert Bosch GmbH
- Exhibit 152: Robert Bosch GmbH - Overview
- Exhibit 153: Robert Bosch GmbH - Business segments
- Exhibit 154: Robert Bosch GmbH - Key news
- Exhibit 155: Robert Bosch GmbH - Key offerings
- Exhibit 156: Robert Bosch GmbH - Segment focus

12.13 Samsung SDI Co. Ltd.
- Exhibit 157: Samsung SDI Co. Ltd. - Overview
- Exhibit 158: Samsung SDI Co. Ltd. - Business segments
- Exhibit 159: Samsung SDI Co. Ltd. - Key news
- Exhibit 160: Samsung SDI Co. Ltd. - Key offerings
- Exhibit 161: Samsung SDI Co. Ltd. - Segment focus

12.14 Snap On Inc.
- Exhibit 162: Snap On Inc. - Overview
- Exhibit 163: Snap On Inc. - Business segments
- Exhibit 164: Snap On Inc. - Key offerings
- Exhibit 165: Snap On Inc. - Segment focus

12.15 Stanley Black and Decker Inc.
- Exhibit 166: Stanley Black and Decker Inc. - Overview
- Exhibit 167: Stanley Black and Decker Inc. - Business segments
- Exhibit 168: Stanley Black and Decker Inc. - Key news
- Exhibit 169: Stanley Black and Decker Inc. - Key offerings
- Exhibit 170: Stanley Black and Decker Inc. - Segment focus

12.16 Techtronic Industries Co. Ltd.
- Exhibit 171: Techtronic Industries Co. Ltd. - Overview
- Exhibit 172: Techtronic Industries Co. Ltd. - Business segments
- Exhibit 173: Techtronic Industries Co. Ltd. - Key offerings
- Exhibit 174: Techtronic Industries Co. Ltd. - Segment focus

12.17 Wanxiang Group
- Exhibit 175: Wanxiang Group - Overview
- Exhibit 176: Wanxiang Group - Key offerings

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist
- Exhibit 177: Inclusions checklist
- Exhibit 178: Exclusions checklist

13.3 Currency conversion rates for US$
- Exhibit 179: Currency conversion rates for US$

13.4 Research methodology
- Exhibit 180: Research methodology
- Exhibit 181: Validation techniques employed for market sizing
- Exhibit 182: Information sources

13.5 List of abbreviations
- Exhibit 183: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

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What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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