Marine Navigation Systems Market
Market Research Future (MRFR) conducted extensive primary and secondary research into the global marine navigation systems market to analyse the present market size, trends, potential opportunities and future projections of the market size and trends from 2023 to 2030 (forecast period).
Primary Research
The primary research was conducted with the help of surveys and interviews conducted with various professionals from across the marine navigation systems domain. These included key opinion leaders such as CEOs, CFOs, and product managers, industry experts, marketing & sales professionals, as well as representatives from leading market players, end customers, and the supply chain. The primary objective was to validate the data collected from various secondary sources to build a general market view for the base year 2023.
The interviews were conducted over the telephone or online channels, and the primary respondents were selected based on the set criterion, viz. top and middle-level management, industry experts, and other stakeholders related to the global marine navigation systems market. The interviews were structured into a series of questions along industry-related lines that required answers.
Secondary Research
To calculate the global market size for marine navigation systems, Market Research Future conducted extensive secondary research with consideration of the base year 2023 and historic market data obtained from reliable sources, such as trade magazines, industry sources, and white papers.
MRFR conducted additional interviews with industry experts and company representatives to ensure coverage of most market parameters. This gave us insights into the production and consumption trends, investment and price trends, the regulatory framework governing the market, and market dynamics such as sales drivers, restraints, opportunities, and market trends.
Base Year
The base year for the study was considered as 2023. The historical data was collected from 2017 to 2022, and forecast data was gathered until 2030. Research analysts at MRFR used data normalization and triangulation to ensure accuracy and validity within the model.
ATLR Data Triangulation
ATLR data triangulation involves obtaining market size from various sources and studying the different areas to get a full view of the market. ATLR data triangulation is widely used in the MRFR market research process to help understand the different aspects of the market. ATLR triangulation helps in analyzing the market size based on various areas and countries, end users, product types, and applications. It also helps in defining the different aspects of the market and helps in analysing and writing the market report.
Bottom-up Approach
The bottom-up approach was used to arrive at the overall market size for marine navigation systems from the estimated revenue of each application. The overall market size was used in the top-down approach to estimate the market revenue and for further market segmentation.
Forecasting
MRFR’s forecast and estimations consider various factors such as market drivers, primary and secondary sources, market trends and technological advancements that affect the market. Factors such as changing demand and supply scenarios, increasing competition, and increasing technological advancement have been considered during the forecast period, and appropriate assumptions and methodologies have been used to estimate the market size.
Time-Series Analysis
Time-series analysis relies on historical data to determine trends in the future. MRFR used this technique to forecast the global marine navigation systems market from 2023 to 2030 (forecast period). The main objective was to identify historical correlations to predict future occurrences.
Demand Side and Supply Side Data Triangulation
MRFR’s market research team used both demand-side and supply-side data triangulation to forecast the global marine navigation systems market. The demand-side data triangulation was done by studying the market size of the global marine navigation systems market based on inputs from various sectors and stakeholders. The supply-side data triangulation was done by studying the vendor landscape and product offerings. MRFR also used information obtained from regional and global trade associations and distributors to forecast the global marine navigation systems market.
Factor Analysis
MRFR used factor analysis to arrive at market insights and determine the factors influencing the market size and trends. Factor analysis was used to analyze the impact of different factors on the global marine navigation systems market. The factors were grouped into Porter’s five forces and SWOT analysis. Market participants were identified, along with their product offerings and strategies.
