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Market Research Process
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One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
The halal logistics market is valued at USD 337.19 billion in 2022 and is projected to reach a value of USD 642.86 billion in 2030 expanding at a CAGR of 8.4% over the forecast period of 2022-2030.
Rising number of affluent Islamists has boosted the market:- Every market has its growth determinant and challenges. One of the major factor that has boosted the market growth over the forecast period is the rise in the number of affluent Islamists. This has resulted in the expansion of the halal market into various lifestyle offerings such as halal fashion, hospitality, and travel services, among others. This expansion has been triggered by the changing mind set of both Islamic and non-Islamic consumers worldwide.
Some of the major players operating within the market are Nippon Express; TIBA Group; MASkargo; YUSEN LOGISTICS CO., LTD.; TASCO Berhad.
The halal logistics market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, Asia Pacific has dominated the regional segment of the market. This is because of the migration of the Muslim population from Muslim-dominated nations to India, China, and Southeast Asian countries is one of the major reasons responsible for the rise in the Muslim population in the region.
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