Global Wine Market by Product Type (Still Wine, Sparkling Wine, Fortified Wine), by Color Type (Red Wine, White Wine, Rose Wine), and By Geography - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025

  • Published On : Oct 2017 |
  • Pages : 298 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Global Wine Market – Insights

The global wine market was valued at US$ 296.03 billion in 2016 and is slated to reach US$ 404.64 billion by 2025. The market is expected to exhibit a CAGR of 3.23% during the forecast period (2017-2025).

Growing population of women alcohol consumers, expansion of bars and restaurants, exploring different forms of entertainment such as night parties, growing demand from emerging economies and preference for low calorie alcoholic beverages stands to be some of the key driving factors of the wine market. For instance, in India, the number of pubs and bars grew by over 23% during 2014-2016, compared to cafes during the same time period. The health benefits associated with wine such as lower risk of heart disease, reduce risk of type 2 diabetes and cataracts is also playing a key role in driving the market for wine. Additionally, with the increasing number of millennials shifting from beer and spirit based drinks to wine, the market for wine is expected to witness a positive growth trend during the forecast period. Additionally, the ongoing increase in the consumption of alcohol among females is further driving the sales of red and white wine, thereby helping the market for wine. According to a study conducted by Coherent Market Insights, it is estimated that over 55% of the women prefer wine compared to around 39% for beer in the US. However, the high price of wine compared to other alcohol based drinks such as beer is one of the major hindrance to the growth of the market.

In terms of product, still wine continue to hold majority of the market with around 83% of the market in 2016 where red wine continues to be the preferred option among all customer groups. Others such as sparkling wine and fortified wine are also witnessing growth in demand as customers seek for alternatives. The market for sparkling wine is expected to grow at a CAGR of 4.94% during the forecast period owing to the increasing consumption of champagne during social celebrations. The changing taste and preference among consumers and the demand for new and exotic flavors such as Reisling wine made of white grapes and other tropical fruit wine is fuelling the growth of the wine market.  

In terms of geography, Europe stands to be the largest market while APAC is expected to witness the fastest growth in wine market till 2022. Europe contributed over 63% of the market in 2016 with countries such as France, Spain, Italy and Germany being the key markets in the region. Additionally, Italy, Spain and France also contributed over half of the wine production at a global level due to its vast vineyard area.

North America stands as the second largest market for wine with US being the largest player in the region. At a global level, US contributed about 12% of the global market and also being the largest market globally. The country has over 9000 wineries with California contributing around 90% of the wine production in the country. Despite the ageing baby boomers being majority of the consumers of premium wines in the country, growing interest amongst the millennials are bringing a shift in the target customer group which will play a significant role in boosting the growth of the wine market in the country. It is found that millennials consumed over 43% of all wine consumed in 2015 than any other generation as they continue to shift from beer to wine.

 Asia Pacific is projected to witness the fastest growth in the wine market with countries such as China, India being the key contributors in the region. At a global level, China stands to be the largest market for alcohol consumption with the country also being one of the leading importers of wine worldwide. The ongoing recovery of the Chinese economy, growing upper middle class population and the rising disposable income is further expected to boost the consumption of wine in the country. The country is also focused towards manufacturing its domestic wine, further promoting the growth of wine in the country. Zhejiang Guyue Longshan Shaoxing Wine Company remained the market leader and witnessed volume sales increase by over 5% in 2016.  Additionally, with the Chinese government promoting Hong Kong as a wine trading hub and the rise in events such as Hong Kong International Wine and Spirits Fair, ProWine China will further promote the growth and awareness of wine in the country.

Middle Eastern countries such as Saudi Arabia, UAE, Qatar offers high income population which acts an important driving factor of the wine market in the region. The growing influx of tourists and the booming hospitality industry is also further helping the market to grow in these countries. As a result, the imports of wine from several European countries and American countries continue to grow in the country. However, stringent government and religious factors are the major challenges which will affect the growth in this region. For instance in UAE and Qatar, expats need to obtain permits to buy alcohol from designated liquor stores for private consumption.

Latin America stands to be another important region which is showcasing a strong preference for wine. Mexico which stands to be an important market in the region has witnessed a significant increase in the volume sales increasing by over 8.5% in 2016. Additionally, with different varieties of wine being easily available across different retail outlets will further boost the market in the coming years.

Wine Market Revenue Share (2016), By Region

Figure 1. Global Wine Market Share (2016), By Region

wine market

Source: Coherent Market Insights 2017

Europe dominated the global wine market in 2016 and is expected to retain market dominance throughout the forecast period, with major contribution coming from the emerging economies of India and China.

Major Players in the Global Wine Market

Global wine market is highly fragmented, with the presence of many large and smaller players in the market. Key players operating in the wine market include E. & J. Gallo Winery, Concha y Toro, The Wine Group, Bacardi Limited, Constellation Brands, Pernod Ricard, Treasury Wine Estates, Caviro, Grupo Penaflor.

Wine is an alcohol based drink that is usually made from grapes and is mainly directly consumed, while also extending its use for cooking purpose and religious rites. The changing consumer lifestyle and the growing awareness of the health benefits of wine has further led many consumers shift from beer and spirit based drinks to wine. The calorie content in beer is about 1.3 times more than that of wine resulting in many calorie and health conscious consumers shifting from beer to wine.

Although the major consumer base stands to be the middle and older age group, there is a growing demand amongst the millennial which is further helping the market to grow. In the US, over 80% of the millennial population and 75% of the Gen X population prefer dining outside compared to around 70% for the baby boomers. It is also noticed that the percentage of wine drinkers for millennials has increased by over 10.5% compared to just 5.5% for baby boomers showcasing a gradual shift in target customer group.

Market Dynamics

In terms of revenue, the wine market is expected to expand at a CAGR of over 3.23% during the forecast period (2017-2025). According to a study conducted by Coherent Market Insights, the still wine segment is estimated to reach $255.66 billion by the end of 2017. The demand for fortified wine is expected to increase while sparkling wine stands to be the fastest growing segment over the forecast period. For instance, demand for new flavors such as marijuana infused wine and people opting for strong alcohol content are helping the market for fortified wine to grow.   However, rising import duties in countries such as Australia and Russia and economic instability will act as a major hindrance in the market during the forecast period. For instance, the price of wine increased by 3% in UK, an increase by around 1% over the past two years post Brexit. 

Market Taxonomy

The wine market is segmented on the basis of product type and color. Both red and white wine will continue to witness surge in sales owing to the changing lifestyle patterns, ordering wine at social gatherings, the health benefits associated with it and different activities carried out by the government to promote the wine industry. Although Europe contributed over 63% of the global wine consumption in 2016, APAC stands to be the fastest growing market and is forecasted to grow at a CAGR of around 7% followed by Latin America with CAGR of 5%.

Key features of the study:

  • This report provides in-depth analysis of wine market and provides market size (US$ Billion) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017 – 2025), considering 2016 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 approval, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the global wine 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 E. & J. Gallo Winery, Concha y Toro, The Wine Group, Bacardi Limited, Constellation Brands, Pernod Ricard, Treasury Wine Estates, Caviro, Grupo Penaflor. 
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, market expansion and marketing tactics
  • The wine market report caters to various stakeholders in this industry including investors, suppliers, wine manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the wine market

Detailed Segmentation:

  • Global Wine Market, By Product Type:
    • Still wine
    • Sparkling wine
    • Fortified wine
  • Global Wine Market, By Color:
    • Red Wine
    • White Wine
    • Rose Wine
  • Global Wine Market, By Geography:
    • North America
      • U.S.
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • Canada
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
    • Europe
      • U.K.
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • Germany
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • Italy
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • France
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • Spain
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • Russia
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • Rest of Europe
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
    • Asia-Pacific
      • China
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • India
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • Japan
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • ASEAN
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • Australia
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • South Korea
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • Rest of Asia Pacific
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
    • Latin America
      • Brazil
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • Argentina
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • Rest of Latin America
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
    • Middle East
      • GCC Countries
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • Israel
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • Rest of Middle East
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
    • Africa
      • Northern Africa
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • Central Africa
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
      • South Africa
        • By Product Type:
          • Still wine
          • Sparkling wine
          • Fortified wine
        • By Color:
          • Red Wine
          • White Wine
          • Rose Wine
  • Company Profiles
    • E. & J. Gallo Winery *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Concha y Toro
    • The Wine Group
    • Bacardi Limited
    • Constellation Brands
    • Treasury Wine Estates
    • Caviro
    • Grupo Penaflor

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

Table of Contents

  1. Research Objective and assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet By Product Type
      • Market Snippet By Color
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New Product Approvals/Launch
    • Cost Tier Down Analysis
  4. Global Wine Market, By Product Type, 2017 - 2025 (USD Billion)
    • Introduction
      • Market Share Analysis, 2017 and 2025 (%)
      • Y-O-Y Growth Analysis, 2017 - 2025
      • Segment Trends
    • Still Wine
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2017 - 2025, (USD Billion)
    • Sparkling Wine
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2017 - 2025, (USD Billion)
    • Fortified Wine
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2017 - 2025, (USD Billion)
  5. Global Wine Market, By Color Type, 2017 - 2025 (USD Billion)
    • Introduction
      • Market Share Analysis, 2017 and 2025 (%)
      • Y-O-Y Growth Analysis, 2017 - 2025
      • Segment Trends
    • Red Wine
      • Introduction
      • Market Share Analysis, 2017 and 2025 (%)
      • Y-O-Y Growth Analysis, 2017 - 2025
    • White Wine
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2017 - 2025, (USD Billion)
    • Rose Wine
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2017 - 2025, (USD Billion)
  6. Global Wine Market, By Regions, 2017 - 2025 (USD Billion)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2025 (%)
      • Y-O-Y Growth Analysis, For Regions, 2017 - 2025
    • North America
      • Market Share Analysis, By Country, 2017 and 2025 (%)
      • Y-O-Y Growth Analysis, By Country, 2017 - 2025
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By  Color, 2017 - 2025 (USD Billion)
    • Europe
      • Market Share Analysis, By Country, 2017 and 2025 (%)
      • Y-O-Y Growth Analysis, By Country, 2017 - 2025
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • France
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • Spain
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • Rest of Europe
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
    • Asia Pacific
      • Market Share Analysis, By Country, 2017 and 2025 (%)
      • Y-O-Y Growth Analysis, By Country, 2017 - 2025
        • China
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • India
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • Australia
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • South Korea
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • Rest of Asia Pacific
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
    • Latin America
      • Market Share Analysis, By Country, 2017 and 2025 (%)
      • Y-O-Y Growth Analysis, By Country, 2017 - 2025
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • Argentina
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • Rest of Latin America
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
    • Middle East
      • Market Share Analysis, By Country, 2017 and 2025 (%)
      • Y-O-Y Growth Analysis, By Country, 2017 - 2025
        • GCC Countries
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • Israel
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • Rest of Middle East
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
    • Africa
      • Market Share Analysis, By Country, 2017 and 2025 (%)
      • Y-O-Y Growth Analysis, By Country, 2017 - 2025
        • Northern Africa
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • Central Africa
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
        • South Africa
          • Country Trends
          • Market Size and Forecast, By Type, 2017 - 2025 (USD Billion)
          • Market Size and Forecast, By Color, 2017 - 2025 (USD Billion)
  7. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • E. & J. Gallo Winery
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Concha y Toro
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • The Wine Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Bacardi Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Constellation Brands
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Pernod Ricard
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Treasury Wine Estates
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Caviro
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Grupo Penaflor
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
    • Analyst Views
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 200* market data tables and 180* figures on “Global Wine Market - Global forecast to 2025”.

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.


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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.

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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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