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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Agrochemicals are chemical products that have been specially engineered for use in agriculture to increase crop yield and protect crops from pests, insects, weeds, fungi, and other pests. Agrochemicals can be produced in both, chemical as well as biological methods. Synthetic agrochemicals are a threat for the environment and are gradually being replaced by bio-based pesticides and fertilizers. An evolution in synthetic chemical manufacture has vastly improved pesticide processes to accommodate for the enormously growing global population and the consequent increases in food demands. However, it is estimated that up to 40% of the world’s crops are spoiled by plant pests and diseases – even with the effective implementation of pesticides.

The global agrochemicals market is estimated to surpass US$ 103,383.4 Mn by the end of 2027 in terms of revenue, exhibiting a CAGR of 6.2% during the forecast period (2021 to 2027).

Drivers

Increasing adoption of agrochemicals in developing countries such as India, Egypt, etc. will help boost the market during forecast period. Continuous developments in agricultural technology have resulted in a shift in farming techniques. New types of harmful organisms have emerged as a result of increased export and import of agricultural commodities across various geographies, particularly in developing regions such as Asia, leading to an increase in demand for novel active ingredient products to protect crops.

The rising population across the world, accompanied by rising affluence, is seeing a shift in consumption patterns. There is a need to not just increase production to meet demand, but also to ensure that the nutritional needs of an increasingly affluent population are met. Shrinking arable land and loss of crops due to pest attacks lead to wastage, posing a critical challenge to ensuring food and nutritional security. The agrochemical market is an important agriculture support industry, which boosts the agriculture output. These factors are supporting the growth of the agrochemicals market.

Among regions, Asia Pacific held dominant position in the global agrochemicals market in 2020, accounting for 31.7% market share in terms of revenue, followed by Europe and North America. Being the largest as well as the most populous region in the world, Asia Pacific is one of the key markets for agrochemicals. However, it continues to remain untapped by major market players. The region accounted for almost 30% of the land available on Earth and nearly 60% of the human population, according to the World Bank. To meet the food requirement of this huge population in Asia, the use of pesticides has increased significantly in the region. India, Japan, Australia, and Thailand are the highest pesticide- consuming countries in the world. In addition to this, a decrease in arable land per person in India, China, and Southeast Asia countries is a very serious concern.

Figure 1. Global Agrochemicals Market Revenue Share (%), By Region, 2020

Agrochemicals  | Coherent Market Insights

Market Restraints

The organic food industry witnessed high growth across the emerging countries such as India, Mexico, Russia, China, and Brazil, with increasing awareness regarding health, environment protection, food safety, and animal welfare reforms. The demand for organic food products is increasing, and according to the estimates of the Organic Trade Association, nearly 81% of the American families reported to be purchasing organic food products at least once a week. The growing market demand for safe and healthy food products and improving per capita income are factors that are estimated to continue driving the organic food industry and increase the usage of bio fertilizers, which, in turn, affects the consumption of chemical fertilizers.

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Agrochemicals Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2020: US$ 67,854.6 Mn
Historical Data for: 2017 - 2019 Forecast Period: 2021 to 2027
Forecast Period 2021 to 2027 CAGR: 6.2% 2027 Value Projection: US$ 103,383.4 Mn
Geographies covered:
  • Regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa
Segments covered:
  • By Origin: Synthetic and Organic
  • By Product Type: Insecticides, Fungicides, Herbicides, and Others (Rodenticides, etc.)
  • By Crop Type: Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others (Ornamental, etc.)
  • By Application: Foliar Treatment, Soil Treatment, Seed Treatment, and Others (Hydroponics, etc.)
Companies covered:

ADAMA Ltd., Arysta Life Science, Bayer AG, Isagro Spa, K+S Aktiengesellschaft, Nufarm, Nutrien Ltd, OCI Nitrogen, Sociedad Quimica Y Minera De Chile, and The Mosaic Company

Growth Drivers:
  • Increasing adoption of agrochemicals in developing countries
  • Increased reliance on the use of fertilizers for productivity enhancement
  • shrinking arable land area
Restraints & Challenges:
  • Stringent regulations governing the production and marketing of agrochemical products
  • Fluctuating market demand and supply affecting the raw material prices for fertilizers and pesticides

Market Opportunities

Production of sustainable bio-based agricultural products is expected to drive the market growth for agrochemicals over the forecast period. Due to the toxic ingredients contained in the chemicals agricultural products, their pollution levels are so high that they cause serious and, most of the time, fatal effects to the environment. These negative effects can be experienced from the production of the product to the consumption of the plants that these products have been applied on. Most biological products occur naturally, which reduces the cost of production, resulting in relatively cheaper prices compared to chemical pesticides, whose manufacturing cost is high. This results in the consumer footing the bill at a relatively costlier price. Records have shown that pests tend to become resistant to conventional pesticides, thus proving that it is not a long-term solution, something that never happens with the use of organic pesticides and fertilizers.

Figure 2. Global Agrochemicals Market – Opportunity Analysis

Agrochemicals  | Coherent Market Insights

Market Trends

Eco-friendly bio-agrochemicals is the leading market trend nowadays. Associated toxic effects of synthetic agrochemicals are making space for the biological agrochemicals to enter into modern agriculture in recent years. Bio pesticides such as canola oil and baking soda are largely used by farmers to inhibit pest growth without any ecological adversity. Additionally, advancement in modern agronomy has led to the innovation of agrochemicals from several soil-borne pathogens, fungi, and bacteria to promote natural growth and high productivity in plants.

Figure 3. Global Agrochemicals Market Revenue Share (%), By Product Type, 2020

Agrochemicals  | Coherent Market Insights

On the basis of product type, in 2020, the herbicides segment accounted for 42.4% of the revenue share. The segment dominated the overall agrochemicals market in the year 2020 and is expected to continue its dominance over the forecast period. Herbicides are used in fields to kill the wild plants, but they keep the crops unharmed. Apart from eliminating weeds, herbicide use reduces erosion, reduces fuel use, reduces greenhouse gas emissions, reduces nutrient runoff, and conserves water.

 Global Agrochemicals Market - Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 has a negative impact on the agrochemicals market's production and supply. The global pandemic has an impact on the operation of several businesses around the world, including the agrochemicals market. In terms of supply, a short-term labor shortage combined with distribution obstacles resulted in a large difference between the number of workers necessary for agrochemical manufacturing and those available. Crop productivity has also declined as a result of the lack of laborers in large-scale plantations, reducing demand for agrochemicals during the pandemic.

Competitive Section

Key players operating in the global agrochemicals market include ADAMA Ltd., Arysta Life Science, Bayer AG, Isagro Spa, K+S Aktiengesellschaft, Nufarm, Nutrien Ltd, OCI Nitrogen, Sociedad Quimica Y Minera De Chile, and The Mosaic Company.

Agrochemicals are used to manage the agriculture ecosystem and increase the crop yield by decreasing the growth of fungi, weeds, and insects that hinder the growth of agricultural produce. Agrochemical refers to pesticides including insecticides, herbicides, fungicides, and nematicides. It includes synthetic fertilizers, liming and acidifying agents, hormones, and soil conditioners. Agrochemicals also include chemical agents, such as antibiotics and hormones, which are used for livestock.

Market Dynamics

Surging global population is boosting the demand for food. On the other hand, urbanization is reducing agricultural land, thus driving the need to increase crop production in limited agricultural land. Moreover, rising awareness regarding the advantages of agrochemicals are expected to propel the adoption of agrochemicals throughout the forecast period.

Factors such as continuous advancements in the technology used in agriculture have led to a shift in farming practices. Furthermore, with the course of time, with the advent of the era of globalization, liberalization, and privatization, the manufacturing and service industries became the forefront of employment for the masses and increasingly brought them into the fold of urbanization for livelihood and consumption. This shift required more land to be diverted from agriculture to other commercial and residential uses, and, as a result, it reduced more area from under the fold of agricultural and other related practices. Thus, this trend has increased the demand for more agrochemicals to produce more food in less land.

However, increasing environmental concerns due to prolonged use of synthetic chemicals, rising health-risks caused by high toxicity of such chemicals, and deteriorating quality of air, water, and soil caused by excessive use of synthetic agrochemicals are impeding the global agrochemicals market.

Conversely, increasing cultivable land area for horticultural crops such as fruits, vegetables, and floriculture plants, rising inclination toward organic farming, and growing use of bio pesticides are creating opportunities in the agrochemicals market. Moreover, increasing R&D activities and cutting-edge innovations in farming technologies and growing awareness among farmers about the appropriate use of agrochemicals are creating lucrative opportunities in the market.

Key features of the study:

  • This report provides in-depth analysis of global agrochemicals market, and provides market size (US$ Million and KT) and compound annual growth rate (CAGR %) for the forecast period (2021-2027), considering 2020 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global agrochemicals market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include ADAMA Ltd., Arysta Life Science, Bayer AG, Isagro Spa, K+S Aktiengesellschaft, Nufarm, Nutrien Ltd, OCI Nitrogen, Sociedad Quimica Y Minera De Chile, and The Mosaic Company.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up gradation, market expansion, and marketing tactics
  • The global agrochemicals market report caters to various stakeholders in this industry including investors, suppliers, caffeine manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global agrochemicals market

Detailed Segmentation:

  • Global Agrochemicals Market, By Origin:
    • Synthetic
    • Organic
  • Global Agrochemicals Market, By Product Type:
    • Insecticides
    • Fungicides
    • Herbicides
    • Others (Rodenticides, etc.)
  • Global Agrochemicals Market, By Crop Type:
    • Cereals & Grains
    • Oilseeds & Pulses
    • Fruits & Vegetables
    • Others (Ornamental, etc.)
  • Global Agrochemicals Market, By Application:
    • Foliar Treatment
    • Soil Treatment
    • Seed Treatment
    • Others (Hydroponics, etc.)
  • Global Agrochemicals Market, By Region:
    • North America
      • By Origin:
        • Synthetic
        • Organic
      • By Product Type:
        • Insecticides
        • Fungicides
        • Herbicides
        • Others (Rodenticides, etc.)
      • By Crop Type:
        • Cereals & Grains
        • Oilseeds & Pulses
        • Fruits & Vegetables
        • Others (Ornamental, etc.)
      • By Application:
        • Foliar Treatment
        • Soil Treatment
        • Seed Treatment
        • Others (Hydroponics, etc.)
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Origin:
        • Synthetic
        • Organic
      • By Product Type:
        • Insecticides
        • Fungicides
        • Herbicides
        • Others (Rodenticides, etc.)
      • By Crop Type:
        • Cereals & Grains
        • Oilseeds & Pulses
        • Fruits & Vegetables
        • Others (Ornamental, etc.)
      • By Application:
        • Foliar Treatment
        • Soil Treatment
        • Seed Treatment
        • Others (Hydroponics, etc.)
      • By Country:
        • U.K.
        • Italy
        • France
        • Germany
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Origin:
        • Synthetic
        • Organic
      • By Product Type:
        • Insecticides
        • Fungicides
        • Herbicides
        • Others (Rodenticides, etc.)
      • By Crop Type:
        • Cereals & Grains
        • Oilseeds & Pulses
        • Fruits & Vegetables
        • Others (Ornamental, etc.)
      • By Application:
        • Foliar Treatment
        • Soil Treatment
        • Seed Treatment
        • Others (Hydroponics, etc.)
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • Rest of Asia Pacific
    • Latin America
      • By Origin:
        • Synthetic
        • Organic
      • By Product Type:
        • Insecticides
        • Fungicides
        • Herbicides
        • Others (Rodenticides, etc.)
      • By Crop Type:
        • Cereals & Grains
        • Oilseeds & Pulses
        • Fruits & Vegetables
        • Others (Ornamental, etc.)
      • By Application:
        • Foliar Treatment
        • Soil Treatment
        • Seed Treatment
        • Others (Hydroponics, etc.)
      • By Country:
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • By Origin:
        • Synthetic
        • Organic
      • By Product Type:
        • Insecticides
        • Fungicides
        • Herbicides
        • Others (Rodenticides, etc.)
      • By Crop Type:
        • Cereals & Grains
        • Oilseeds & Pulses
        • Fruits & Vegetables
        • Others (Ornamental, etc.)
      • By Application:
        • Foliar Treatment
        • Soil Treatment
        • Seed Treatment
        • Others (Hydroponics, etc.)
      • By Sub-Region:
        • Middle East
        • Africa
  • Company Profiles
    • ADAMA Ltd.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Arysta Life Science
    • Bayer AG
    • Isagro Spa
    • K+S Aktiengesellschaft
    • Nufarm
    • Nutrien Ltd
    • OCI Nitrogen
    • Sociedad Quimica Y Minera De Chile
    • The Mosaic Company

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Origin
      • Market Snippet, By Product Type
      • Market Snippet, By Crop Type
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • PEST Analysis
      • PORTER’s Five Forces Analysis
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
  4. Global Agrochemicals Market - Impact of Coronavirus (Covid-19) Pandemic
    • Overview
    • Factors Affecting Global Agrochemicals Market– COVID-19
    • Impact Analysis
  5. Global Agrochemicals Market, By Origin, 2017- 2027 (US$ Mn & KT)
    • Introduction
      • Market Share Analysis, 2020, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, 2021 - 2027
      • Segment Trends
    • Synthetic
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2027, (US$ Mn & KT)
    • Organic
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2027, (US$ Mn & KT)
  6. Global Agrochemicals Market, By Product Type, 2017- 2027 (US$ Mn & KT)
    • Introduction
      • Market Share Analysis, 2020, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, 2021 - 2027
      • Segment Trends
    • Insecticides
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2027, (US$ Mn & KT)
    • Fungicides
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2027, (US$ Mn & KT)
    • Herbicides
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2027, (US$ Mn & KT)
    • Others (Rodenticides, etc.)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2027, (US$ Mn & KT)
  7. Global Agrochemicals Market, By Crop Type, 2017- 2027 (US$ Mn & KT)
    • Introduction
      • Market Share Analysis, 2020, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, 2021 - 2027
      • Segment Trends
    • Cereals & Grains
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2027, (US$ Mn & KT)
    • Oilseeds & Pulses
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2027, (US$ Mn & KT)
    • Fruits & Vegetables
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2027, (US$ Mn & KT)
    • Others (Ornamental, etc.)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2027, (US$ Mn & KT)
  8. Global Agrochemicals Market, By Application, 2017- 2027 (US$ Mn & KT)
    • Introduction
      • Market Share Analysis, 2020, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, 2021 - 2027
      • Segment Trends
    • Foliar Treatment
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2027, (US$ Mn & KT)
    • Soil Treatment
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2027, (US$ Mn & KT)
    • Seed Treatment
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2027, (US$ Mn & KT)
    • Others (Hydroponics, etc.)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2027, (US$ Mn & KT)
  9. Global Agrochemicals Market, By Region, 2017- 2027 (US$ Mn & KT)
    • Introduction
      • Market Share Analysis, By Region, 2020, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2021 - 2027
    • North America
      • Market Share Analysis, By Country, 2020, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2027
      • Country Trends
      • Market Size and Forecast, By Origin, 2017- 2027 (US$ Mn & KT)
      • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn & KT)
      • Market Size and Forecast, By Crop Type, 2017- 2027 (US$ Mn & KT)
      • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
      • Countries
        • U.S.
        • Canada
    • Latin America
      • Market Share Analysis, By Country, 2020, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 - 2027
      • Country Trends
      • Market Size and Forecast, By Origin, 2017- 2027 (US$ Mn & KT)
      • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn & KT)
      • Market Size and Forecast, By Crop Type, 2017- 2027 (US$ Mn & KT)
      • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
      • Countries
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Europe
      • Market Share Analysis, By Country, 2020, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 - 2027
      • Country Trends
      • Market Size and Forecast, By Origin, 2017- 2027 (US$ Mn & KT)
      • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn & KT)
      • Market Size and Forecast, By Crop Type, 2017- 2027 (US$ Mn & KT)
      • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
      • Countries
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Share Analysis, By Country, 2020, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 - 2027
      • Country Trends
      • Market Size and Forecast, By Origin, 2017- 2027 (US$ Mn & KT)
      • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn & KT)
      • Market Size and Forecast, By Crop Type, 2017- 2027 (US$ Mn & KT)
      • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
      • Countries
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Middle East & Africa
      • Market Share Analysis, By Sub-Region, 2020, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Sub-Region, 2021 - 2027
      • Country Trends
      • Market Size and Forecast, By Origin, 2017- 2027 (US$ Mn & KT)
      • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn & KT)
      • Market Size and Forecast, By Crop Type, 2017- 2027 (US$ Mn & KT)
      • Market Size and Forecast, By Application, 2017- 2027 (US$ Mn & KT)
      • Sub-Regions
        • Middle East
        • Africa
  10. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • ADAMA Ltd.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Arysta Life Science
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Bayer AG
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Isagro Spa
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • K+S Aktiengesellschaft
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Nufarm
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Nutrien Ltd
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • OCI Nitrogen
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Sociedad Quimica Y Minera De Chile
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • The Mosaic Company
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
  11. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 50 market data tables* and 45 figures* on "Agrochemicals Market” - Global forecast to 2027.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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