Market Forecasting: How does it work and what can you expect?
Amsterdam, NL - October 23, 2017 -
You are responsible for a certain market segment within your company and want to know were the opportunities are and who the market players are. A market forecast report gives you this insight, but how does it work and why shouldn’t you use a search engine to get this insight?A market forecast report starts with a solid prediction of the market volumes for the reference years, i.e. the past two years. This needs to be done for a relevant split of the market, for example: segment, region, technology, end-use, and system element. How do you do it? By so called secondary research. Information will be gathered by publicly available sources and commercial databases from specialized companies and institutes.
The next important step will be to determine the drivers and inhibitors for a “Basic Scenario”. Market drivers and inhibitors are the positive and negative factors that are going to influence the market in the forecasted period. Information on these factors comes again from secondary research, but also from primary research and the market knowledge of the analyst. Primary research is dealing with direct contact with industry expert by interviews, phone calls and direct contact on shows and exhibitions. Examples of drivers/inhibitors are: growth of population, known change of legislation, obvious change in a connected market forecast, product economy of scale, etc. In addition to these drivers and inhibitors the analyst will include information on foreseen procurements. Depending on the type of market one of the factors will be determinative.
When this is done we look at scenarios. A scenario is based on events that are in a “basic scenario” the most likely events and in alternatives scenarios, events that are less likely. For example: a War or a feasible but not to expect change in legislation. Sometimes these scenarios do not seem feasible at first sight, but we experienced that some became reality. Both or all scenarios are forecasted for each market split.
The above forms the basis for the market forecast and will be supplemented with a current market overview on technologies and or research areas. After these standard elements an Introduction, a Summary, a SWOT Analysis, and Conclusions and Recommendations are added.
The average time needed to execute a market forecast is three months and requires as you can conclude from the above expert knowledge from an analyst. View our Aerospace and defense market forecast reports and our Analysts.
Want to know more on market forecasts?
Please contact me at jh@marketforecast.com
With kind regards, Jol Hoeve
Jol Hoeve | Market Forecast | ASDMedia BV | Amsterdam | Netherlands
P +31 20 486 7590 | M +31 625 000 950
Market Forecast: How does it work and what can you expect?