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In-Wheel Motor Trends and Forecast

The future of the global in-wheel motor market looks promising with opportunities in the passenger car and commercial vehicle markets. The global in-wheel motor market is expected to reach an estimated $14.1 billion by 2030 with a CAGR of 31.2% from 2024 to 2030. The major drivers for this market are increased desire for characteristics that are convenient and safe, growth in the market for electric cars, as well as, extensive range of uses for electric motors, and growing worries about the environment, including air and noise pollution, natural resource depletion, and global warming.

• Lucintel forecasts that axial flux motor will remain larger segment over the forecast period because it has a higher power density and efficiency than radial flux motors.
• Within this market, passenger car will remain larger segment due to the enhanced efficiency, high torque, higher power, and improved vehicle control for both new and existing cars.
• APAC will remain the largest region over the forecast period due to substantial government subsidies given in nations like China to encourage the electrification of automobiles.


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In-Wheel Motor Trends and Forecast

In-Wheel Motor by Segment

Emerging Trends in the In-Wheel Motor Market

The in-wheel motor market evolves, several key trends are shaping its future. These trends reflect the growing interest in electric vehicles, advancements in technology, and shifting consumer demands. These trends provides insight into how in-wheel motors are becoming a critical component in the evolution of automotive technology.
• Integration with Autonomous Vehicles: In-wheel motors are increasingly being integrated into autonomous vehicle systems. This trend is driven by the need for precise control and enhanced maneuverability in self-driving cars. The decentralized nature of in-wheel motors allows for independent control of each wheel, improving the vehicleÄX%$%Xs ability to execute complex driving maneuvers. This integration supports advancements in autonomous driving technology, offering benefits like improved stability and safety.
• Advances in Motor Efficiency: Recent developments focus on improving the efficiency of in-wheel motors through advancements in materials and design. Engineers are working on optimizing motor performance to reduce energy consumption and enhance the overall efficiency of electric vehicles. Innovations such as high-torque density motors and advanced cooling systems are contributing to more efficient and powerful in-wheel motor systems, which in turn support longer driving ranges and better vehicle performance.
• Cost Reduction Strategies: Reducing the cost of in-wheel motors is a critical trend, driven by the need to make electric vehicles more affordable. Manufacturers are exploring various strategies, including economies of scale, simplified designs, and the use of cost-effective materials. These efforts aim to lower the production costs of in-wheel motors, making them more accessible to a broader range of consumers and accelerating the adoption of electric vehicles.
• Enhanced Thermal Management: Effective thermal management is becoming increasingly important in the development of in-wheel motors. Advances in cooling technologies and materials are being implemented to address the heat generated by high-performance motors. Improved thermal management systems help maintain optimal operating temperatures, enhancing the reliability and longevity of in-wheel motors. This trend is crucial for maintaining performance and safety in high-power applications.
• Integration with Advanced Control Systems: In-wheel motors are being paired with sophisticated control systems to enhance their performance and functionality. Developments in electronic control units and software algorithms enable precise management of motor functions, leading to better handling and stability. This integration also supports advanced features such as torque vectoring, which improves traction and cornering performance. The synergy between in-wheel motors and control systems is driving innovations in vehicle dynamics and overall driving experience
These emerging trends are reshaping the in-wheel motor market by improving performance, reducing costs, and enhancing vehicle capabilities. Integration with autonomous systems and advances in efficiency and thermal management are driving innovation, while cost reduction and advanced control systems make the technology more accessible and effective. Together, these trends are pushing the boundaries of automotive technology and paving the way for more efficient, advanced, and affordable electric vehicles.
Emerging Trends in the In-Wheel Motor Market

Recent Developments in the In-Wheel Motor Market

The in-wheel motor market highlight significant advancements in technology, industry adoption, and market dynamics. These developments are transforming the landscape of automotive propulsion systems and influencing the future direction of electric and hybrid vehicles.
• Increased Investment in R&D: There has been a notable increase in investment in research and development for in-wheel motors. Major automotive manufacturers and technology firms are dedicating substantial resources to enhance motor performance, efficiency, and reliability. This investment is driving innovations such as improved motor designs, advanced materials, and better integration with vehicle systems. The focus on R&D is expected to lead to breakthroughs that will make in-wheel motors more viable for mainstream adoption.
• Adoption by Leading Automotive Brands: Several leading automotive brands have begun integrating in-wheel motor technology into their vehicles. Companies like Tesla, BMW, and Volkswagen are exploring the use of in-wheel motors in their electric and hybrid models. This adoption is driven by the technology’s potential to improve vehicle performance and design flexibility. As these major players incorporate in-wheel motors, the technology is gaining credibility and visibility in the automotive industry.
• Development of High-Performance Models: The market has seen the introduction of high-performance in-wheel motor models designed to meet the demands of both consumer and high-performance electric vehicles. These advanced models feature improved torque density, higher power output, and enhanced thermal management. The development of high-performance in-wheel motors is expanding the range of applications and demonstrating the technology’s capability to deliver superior driving dynamics and efficiency.
• Cost Reduction and Commercialization Efforts: Efforts to reduce the cost of in-wheel motors are becoming a focal point as manufacturers aim to make the technology more commercially viable. Strategies include optimizing manufacturing processes, using cost-effective materials, and achieving economies of scale. These efforts are crucial for making in-wheel motors more accessible to a broader range of consumers and accelerating the adoption of electric vehicles.
• Collaborations and Partnerships: Collaborations between automotive manufacturers, technology companies, and research institutions are driving the development and commercialization of in-wheel motor technology. Strategic partnerships are enabling the sharing of expertise, resources, and innovations, leading to accelerated advancements in motor technology. These collaborations are also facilitating the integration of in-wheel motors into new vehicle platforms and driving forward the adoption of this technology in the automotive industry.
Recent developments in the in-wheel motor market underscore the rapid progress and growing interest in this technology. Increased R&D investment, adoption by leading brands, the introduction of high-performance models, cost reduction efforts, and strategic collaborations are all contributing to the technology’s advancement. These developments are paving the way for broader adoption and integration of in-wheel motors, shaping the future of electric and hybrid vehicles, and driving innovation in automotive propulsion systems.

Strategic Growth Opportunities for In-Wheel Motor Market

The in-wheel motor (IWM) market is poised for significant growth due to advancements in electric vehicle (EV) technology and evolving consumer preferences. Strategic opportunities are emerging across various applications, driven by the need for enhanced vehicle performance, efficiency, and design flexibility. Key applications include passenger vehicles, commercial electric vehicles, electric bicycles, autonomous vehicles, and performance vehicles. Each application presents unique growth opportunities that leverage the benefits of in-wheel motors, such as improved space utilization and precise control.
• Passenger Vehicles: In the passenger vehicle segment, in-wheel motors offer substantial growth opportunities due to their potential to enhance performance and efficiency. They allow for a more flexible vehicle layout by eliminating the need for traditional drivetrain components, which can lead to improved interior space and better overall vehicle design. The integration of in-wheel motors can also contribute to a more responsive driving experience and reduced vehicle weight, making them an attractive option for mainstream EVs.
• Commercial Electric Vehicles: The commercial electric vehicle (EV) market presents a significant growth opportunity for in-wheel motors, particularly in applications such as delivery vans, buses, and trucks. In-wheel motors can improve vehicle efficiency and reduce maintenance costs by eliminating the need for complex transmission systems. Their compact design also allows for more cargo space and better weight distribution, which is crucial for commercial vehicles. The increasing adoption of electric commercial vehicles is expected to drive demand for advanced in-wheel motor systems.
• Electric Bicycles (E-Bikes): Electric bicycles are an emerging market where in-wheel motors can play a pivotal role. In-wheel motors offer a compact and efficient solution for e-bikes, providing powerful propulsion while minimizing the impact on the bikeÄX%$%Xs design and weight. The growing popularity of e-bikes for personal transportation and fitness is creating a substantial market for in-wheel motors, particularly as consumers seek lightweight and efficient alternatives to traditional bicycle drivetrains.
• Autonomous Vehicles: In-wheel motors present a unique opportunity in the autonomous vehicle sector due to their ability to enhance vehicle control and maneuverability. The independent control of each wheel enabled by in-wheel motors supports advanced driving functions such as precise torque vectoring and enhanced stability control. This capability is crucial for autonomous vehicles that require high levels of control and responsiveness to navigate complex driving environments, making in-wheel motors a valuable component for the development of autonomous driving technology.
• Performance Vehicles: In the performance vehicle segment, in-wheel motors offer opportunities for improved driving dynamics and enhanced vehicle performance. The technologyÄX%$%Xs ability to provide high torque directly at each wheel can significantly improve acceleration, handling, and cornering capabilities. Performance enthusiasts and manufacturers are increasingly interested in in-wheel motors for their potential to deliver superior driving experiences and innovative vehicle designs, driving growth in this high-end market segment.
The strategic growth opportunities in the in-wheel motor market across various applications reflect the technologyÄX%$%Xs potential to revolutionize vehicle performance, efficiency, and design. From enhancing passenger vehicles to enabling advanced features in autonomous and performance vehicles, in-wheel motors are positioned to play a critical role in the evolution of automotive technology. The expansion into commercial EVs and e-bikes further highlights the broad applicability and growing demand for in-wheel motor systems, driving significant market growth.

In-Wheel Motor Market Driver and Challenges

The in-wheel motor market is influenced by a variety of drivers and challenges that impact its growth and adoption. These include technological advancements, economic factors, regulatory policies, and market dynamics. These drivers and challenges provides insight into the opportunities and barriers shaping the market.
The factors responsible for driving the in-wheel motor market include:
1. Technological Advancements: Rapid advancements in motor technology and materials science are driving the growth of the in-wheel motor market. Innovations such as higher torque density, improved thermal management, and more efficient control systems are enhancing the performance and reliability of in-wheel motors. These technological improvements make in-wheel motors more viable for a range of applications, from passenger vehicles to high-performance electric bikes, fostering market growth.
2. Growing Electric Vehicle Adoption: The increasing adoption of electric vehicles (EVs) is a significant driver for the in-wheel motor market. As more consumers and manufacturers shift towards EVs to address environmental concerns and regulatory pressures, the demand for advanced propulsion systems like in-wheel motors grows. In-wheel motors offer benefits such as improved efficiency and space utilization, making them an attractive option for the expanding EV market.
3. Demand for Enhanced Vehicle Performance: The desire for better vehicle performance and handling is driving interest in in-wheel motors. These motors provide precise control and high torque directly at each wheel, which enhances acceleration, stability, and overall driving dynamics. Performance-oriented applications, including high-end sports cars and autonomous vehicles, are increasingly adopting in-wheel motors to achieve superior driving experiences and advanced features.
4. Supportive Regulatory Environment: Government policies and regulations promoting electric mobility and reducing emissions are positively impacting the in-wheel motor market. Incentives for EV adoption, stricter emission standards, and investments in EV infrastructure are creating a favorable environment for in-wheel motor technology. Regulatory support helps accelerate the development and deployment of advanced propulsion systems, including in-wheel motors.
5. Increased Investment in R&D: Significant investment in research and development by automotive manufacturers and technology firms is driving innovations in in-wheel motor technology. This investment is focused on improving motor efficiency, reducing costs, and developing new applications. Enhanced R&D efforts are expected to lead to breakthroughs that will make in-wheel motors more competitive and widely adopted in various vehicle segments.
Challenges in the in-wheel motor market are:
1. High Development Costs: The high costs associated with developing and manufacturing in-wheel motors pose a significant challenge. Advanced materials, precise engineering, and specialized manufacturing processes contribute to the overall cost. These high development costs can limit the widespread adoption of in-wheel motors, particularly in price-sensitive markets, and impact the profitability of manufacturers.
2. Integration with Existing Vehicle Platforms: Integrating in-wheel motors with existing vehicle platforms can be complex and challenging. The technology requires modifications to vehicle design, suspension systems, and control mechanisms. This integration complexity can delay adoption and increase development costs. Ensuring compatibility and seamless integration with various vehicle architectures is a critical challenge for manufacturers.
3. Performance and Reliability Concerns: Ensuring the performance and reliability of in-wheel motors under different driving conditions is a key challenge. Issues related to durability, heat management, and mechanical stress can impact the overall performance of the motors. Addressing these concerns requires ongoing research and development to improve the technology’s reliability and longevity.
The in-wheel motor market is driven by technological advancements, growing EV adoption, demand for enhanced performance, supportive regulations, and increased R&D investment. However, it also faces challenges such as high development costs, integration complexities, and performance reliability concerns. Balancing these drivers and challenges is crucial for the market’s growth and the successful adoption of in-wheel motor technology across various vehicle applications.

List of In-Wheel Motor Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. through these strategies in-wheel motor companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the in-wheel motor companies profiled in this report include-
• MW Motors
• ECOMOVE
• Lordstown Motors
• NTN
• Schaeffler
• NSK
• ZIEHL-ABEGG
• e-Traction
• NISSAN MOTOR
• Elaphe Propulsion Technologies

In-Wheel Motor by Segment

The study includes a forecast for the global in-wheel motor by motor type, propulsion, power output type, vehicle type, and region.

In-Wheel Motor Market by Motor Type [Analysis by Value from 2018 to 2030]:


• Axial Flux Motor
• Radial Flux Motor

In-Wheel Motor Market by Propulsion [Analysis by Value from 2018 to 2030]:


• Fuel Cell Electric Vehicles
• Battery Electric Vehicles
• Hybrid Electric Vehicles
• Plug-in Hybrid Electric Vehicles

In-Wheel Motor Market by Power Output Type [Analysis by Value from 2018 to 2030]:


• Up to 60 KW
• 60–90 KW
• Above 90 KW

In-Wheel Motor Market by Vehicle Type [Analysis by Value from 2018 to 2030]:


• Passenger Cars
• Commercial Vehicles

In-Wheel Motor Market by Region [Analysis by Value from 2018 to 2030]:


• North America
• Europe
• Asia Pacific
• The Rest of the World

Country Wise Outlook for the In-Wheel Motor Market

The in-wheel motor (IWM) market has seen significant progress in recent years as automotive manufacturers and technology developers seek to enhance vehicle performance, efficiency, and design. This advancement aligns with the broader shift towards electric vehicles (EVs) and the demand for more efficient, compact drive systems. Innovations in in-wheel motor technology are being driven by various factors including advancements in materials science, improvements in motor design, and increasing investments in electric mobility solutions. These developments are evident across key automotive markets such as the United States, China, Germany, India, and Japan.
• United States: The U.S. market has seen growing interest in in-wheel motor technology as major automotive manufacturers like Tesla and General Motors explore its potential. Recent developments include partnerships between automakers and tech firms to integrate in-wheel motors in prototype electric vehicles. The focus has been on enhancing vehicle performance, reducing weight, and improving energy efficiency. Additionally, increased investment in R&D for in-wheel motors is expected to accelerate the technologyÄX%$%Xs adoption in mainstream EV models, aiming for improved driving dynamics and space utilization.
• China:: China is at the forefront of in-wheel motor technology, driven by both government policy and significant investments from domestic manufacturers like BYD and NIO. Recent advancements include the development of high-performance, cost-effective in-wheel motor systems aimed at boosting the range and efficiency of electric vehicles. Chinese companies are also focusing on integrating advanced control systems and improving thermal management to enhance motor performance. The government’s support for EV technology and infrastructure is likely to further accelerate the adoption of in-wheel motors in the Chinese market.
• Germany: Germany, with its strong automotive industry, is actively investing in in-wheel motor technology. Companies like Volkswagen and BMW are leading the way with research into integrating in-wheel motors into their upcoming electric models. Developments in Germany focus on optimizing motor efficiency, reducing vibration, and enhancing vehicle handling. Collaborations between automotive giants and technology firms are also pushing the boundaries of in-wheel motor performance, aiming to set new benchmarks in the automotive industry for electric and hybrid vehicles.
• India:: In India, the adoption of in-wheel motor technology is still in its nascent stages, but there is growing interest from both local manufacturers and international players. The focus is on developing cost-effective in-wheel motor solutions suitable for India price-sensitive market. Recent efforts include collaborations between Indian automotive firms and technology providers to create affordable and efficient in-wheel motor systems. This technology aims to address challenges related to vehicle range and performance in the Indian context, potentially accelerating the shift towards electric mobility.
• Japan: Japan continues to be a significant player in the development of in-wheel motors, with major companies like Toyota and Honda investing heavily in this technology. Recent advancements include the integration of advanced sensor systems and electronic controls to improve the performance and reliability of in-wheel motors. Japan focus is on refining the technology to enhance vehicle dynamics and passenger comfort. The Japanese marketÄX%$%Xs emphasis on innovation and efficiency is expected to drive the continued evolution and adoption of in-wheel motors in both domestic and global markets.
Lucintel Analytics Dashboard

Features of the Global In-Wheel Motor Market

Market Size Estimates: In-wheel motor market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: In-wheel motor market size by motor type, propulsion, power output type, vehicle type, and region in terms of value ($B).
Regional Analysis: In-wheel motor market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different motor type, propulsion, power output type, vehicle type, and regions for the in-wheel motor market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the in-wheel motor market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

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FAQ

Q1. What is the in-wheel motor market size?
Answer: The global in-wheel motor market is expected to reach an estimated $14.1 billion by 2030.
Q2. What is the growth forecast for in-wheel motor market?
Answer: The global in-wheel motor market is expected to grow with a CAGR of 31.2% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the in-wheel motor market?
The major drivers for this market are increased desire for characteristics that are convenient and safe, growth in the market for electric cars, as well as, extensive range of uses for electric motors, and growing worries about the environment, including air and noise pollution, natural resource depletion, and global warming.
Q4. What are the major segments for in-wheel motor market?
Answer: The future of the global in-wheel motor market looks promising with opportunities in the passenger car and commercial vehicle markets.
Q5. Who are the key in-wheel motor market companies?
Answer: Some of the key in-wheel motor companies are as follows:
• MW Motors
• ECOMOVE
• Lordstown Motors
• NTN
• Schaeffler
• NSK
• ZIEHL-ABEGG
• e-Traction
• NISSAN MOTOR
• Elaphe Propulsion Technologies
Q6. Which in-wheel motor market segment will be the largest in future?
Answer: Lucintel forecasts that axial flux motor will remain larger segment over the forecast period because it has a higher power density and efficiency than radial flux motors.
Q7. In in-wheel motor market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period due to substantial government subsidies given in nations like China to encourage the electrification of automobiles.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the in-wheel motor market by motor type (axial flux motor and radial flux motor), propulsion (fuel cell electric vehicles, battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles), power output type (up to 60 KW, 60–90 KW, and above 90 KW), vehicle type (passenger cars and commercial vehicles), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to In-Wheel Motor Market, In-Wheel Motor Market Size, In-Wheel Motor Market Growth, In-Wheel Motor Market Analysis, In-Wheel Motor Market Report, In-Wheel Motor Market Share, In-Wheel Motor Market Trends, In-Wheel Motor Market Forecast, In-Wheel Motor Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.

Table of Contents

1. Executive Summary
2. Global In-Wheel Motor Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges 
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global In-Wheel Motor Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global In-Wheel Motor Market by Motor Type
3.3.1: Axial Flux Motor
3.3.2: Radial Flux Motor
3.4: Global In-Wheel Motor Market by Propulsion
3.4.1: Fuel Cell Electric Vehicles
3.4.2: Battery Electric Vehicles
3.4.3: Hybrid Electric Vehicles
3.4.4: Plug-in Hybrid Electric Vehicles
3.5: Global In-Wheel Motor Market by Power Output Type
3.5.1: Up to 60 KW
3.5.2: 60–90 KW
3.5.3: Above 90 KW
3.6: Global In-Wheel Motor Market by Vehicle Type
3.6.1: Passenger Cars
3.6.2: Commercial Vehicles
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global In-Wheel Motor Market by Region
4.2: North American In-Wheel Motor Market
4.2.1: North American In-Wheel Motor Market by Motor Type: Axial Flux Motor and Radial Flux Motor
4.2.2: North American In-Wheel Motor Market by Vehicle Type: Passenger Cars and Commercial Vehicles
4.3: European In-Wheel Motor Market
4.3.1: European In-Wheel Motor Market by Motor Type: Axial Flux Motor and Radial Flux Motor
4.3.2: European In-Wheel Motor Market by Vehicle Type: Passenger Cars and Commercial Vehicles
4.4: APAC In-Wheel Motor Market
4.4.1: APAC In-Wheel Motor Market by Motor Type: Axial Flux Motor and Radial Flux Motor
4.4.2: APAC In-Wheel Motor Market by Vehicle Type: Passenger Cars and Commercial Vehicles
4.5: ROW In-Wheel Motor Market
4.5.1: ROW In-Wheel Motor Market by Motor Type: Axial Flux Motor and Radial Flux Motor
4.5.2: ROW In-Wheel Motor Market by Vehicle Type: Passenger Cars and Commercial Vehicles
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global In-Wheel Motor Market by Motor Type
6.1.2: Growth Opportunities for the Global In-Wheel Motor Market by Propulsion
6.1.3: Growth Opportunities for the Global In-Wheel Motor Market by Power Output Type
6.1.4: Growth Opportunities for the Global In-Wheel Motor Market by Vehicle Type
6.1.5: Growth Opportunities for the Global In-Wheel Motor Market by Region
6.2: Emerging Trends in the Global In-Wheel Motor Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global In-Wheel Motor Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global In-Wheel Motor Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: MW Motors
7.2: ECOMOVE
7.3: Lordstown Motors
7.4: NTN
7.5: Schaeffler
7.6: NSK
7.7: ZIEHL-ABEGG
7.8: e-Traction
7.9: NISSAN MOTOR
7.10: Elaphe Propulsion Technologies
.

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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
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Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

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