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Smart Home Installation Service Market

Smart Home Installation Service Market Forecast, Trend Analysis & Competition Tracking - Global Industry Insights 2015 to 2031

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  • Feb 2022

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  • Our Research Methodology is based on the following main points:
    1. Data Collections and Interpretation
    2. Analysis
    3. Data Validation
    4. Final Projections and Conclusion

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  • Global Smart Home Installation Service Market Revenue Outlook:

    The global smart home installation service market was valued at US$ 3.1 Bn in 2018 and is projected to register а ХАGR of 25% by 2031.

    From 2015 to 2020, sales of smart home devices were significantly high, expanding at under 25% CAGR. Internet of Things (IoT) technology is playing a crucial role for the growth of the smart home installation service market. In addition, the conception about connected homes is changing from luxury to mainstream with increasing investments from major key players in the connected home technologies and devices manufacturers. These factors are expected to become inseparable fundamentals in the home automation ecosystem.

    Request Covid - 19 Impact

    The COVID-19 pandemic has promised new growth in expanding the IT and telecom sector. The total IoT spending has reached US$ 761 billion in 2020 and is further expected to grow to the value of US$ 1,386 billion in 2026. From 2021 to 2031, demand is likely expanding at a CAGR exceeding 11% due to increased disposable income as people spend more time to adopt the latest technologies, particularly the youth population.

    Nonetheless, various industry players in the global smart home installation service market are now increasingly focusing on establishing successful collaborations, acquisitions, and joint venture activities to enhance their respective customer bases in rapidly developing economies. In doing so, these players are also increasing their supply capabilities to meet customer requirements on a local and global scale. This factor, paired with promising industrialization prospects in developing economies of the Asia-Pacific region, such as China, India, Taiwan, Indonesia, etc., are expected to create massive business opportunities for key players over the forecast period.

    How is the Demand for Smart Home Installation Service increasing?

    Nowadays, connectivity is a high-end innovation in-home devices such as utility meters, thermostats, security cameras, TVs and Blu-ray players, etc., transforming from a niche market to the mass market. Adopting intelligent assistance-embedded consumer devices has increased rapidly over the last few years, owing to their advanced features, especially in terms of portability.

    Following are the critical home automation statistics, which shows higher demand for smart home installation services:

    • 175 million smart homes across the world
    • The US is expected to have around 63 million connected homes by 2022
    • The smart home market is projected to grow at a CAGR of 25% from 2021 to 2025
    • 86% of millennials are likely to pay more for smart homes
    • Amazon holds the largest market share in the smart devices market

    COVID-19 Impact On The Smart Home Installation Service Market

    During the COVID-19 pandemic situation, the demand for smart home installation services had upsurged and remained resilient. However, supply chain disruption in China has resulted in declining demand for smart home systems in China, which is a hotspot for the deadliest virus and resulted in a slight decline of global sales by 5-10%. In addition, the ongoing trade war with China is expected to limit the adoption of the smart home system in particular regions.

    Higher Switching Costs Of Existing Smart Home Devices For Consumers

    Most consumers prefer devices that offered convenience and energy efficiency as the smart home automation concept is not recent in developed countries such as the US, UK, Germany, France, China, Japan, etc. The residents have been using smart thermostats, smart meters, HVAC controls, and lighting controls for the past few years. They are not willing to replace them soon after installation, which results in growing the market at a slower pace during the forecast period.

    Key Challenges To The Smart Home Installation Service Market

    A significant challenge to the respective market is the risk of smart device malfunctioning, which is expected to hamper smart home installation services sales. The smart home ecosystem includes hardware, software, and services. For every single device's efficient and reliable functioning, the smooth and collective operation of all three segments is highly essential. The malfunctioning of these devices leads to several complications that result in higher replacement costs and technical complexities.

    However, the major market players are planning to provide warranty and insurance services to the smart home system by collaborating with network security providers to reduce the chances of malfunctioning devices.

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    Regional Analysis

    North America Is Expected To Have A Significant Market Share, Among Others

    The US market's market for smart home installation services is likely to expand at under 25.5% CAGR until 2031 as the US is expected to have approximately 63 million connected homes by 2022 with a penetration rate of 32.4%, which results as a growth driver for the particular region in this market. Moreover, the biggest driver for the market in this region is that the consumers are adopting smart home technology like smart lighting solutions, energy management solutions to simplify their lives with greater convenience.

    Why Is Demand For Smart Home Installation Service High In Germany?

    Germany is projected to hold the largest share of the European smart home installation service market during the forecast period. The key providers of smart home products in Germany include Siemens AG, Robert Bosch GmbH, and MOBOTIX AG. The products of these companies cater to the requirements of smart home consumers in the country. Moreover, the growing awareness about energy conservation systems and various government initiatives to promote the use of smart lighting controls is driving the growth of the European smart home market in Germany.

    Competitive Landscape

    The smart home installation service market landscape appears highly consolidated, with a major chunk of it being dominated by US players.

    • Calix
    • Finite Solutions
    • Handy
    • HelloTech Inc.
    • Maryland Electrical Services LLC
    • Meyer Electrical Services, Inc.
    • Miami Electric Masters
    • Red River Electric
    • Rexel
    • Insteon
    • Smartify Home Automation Limited
    • Vivint, Inc.
    • Other Players

    Some notable developments in the market include:

    • In December 2019, Amazon, Apple, Google, and the Zigbee Alliance entered into a collaboration to form a new working group that will develop and promote the adoption of a new, royalty-free connectivity standard to increase compatibility among smart home products, with security as a fundamental design tenet.
    • In April 2019, Calix Inc. announced a partnership with IdeaTek, to expand the availability of its Gigabit services to its subscribers, and facilitate the management and integration of its smart home devices with its cloud-based and home Wi-Fi services. Recently, Vivint, Inc. also announced its partnership with Airbnb, allowing it to manage energy consumption and home security at its homes remotely.

    Report Scope

    • Forecast Period: 2022-2031
    • Actual Year: 2021
    • Historical Data Available for: 2015-2020

    Key Regions Covered

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

    Key Segments Covered

    Smart Home Installation Service Market, By System

    • Home Monitoring/Security
    • Lighting Control
    • Smart Speaker
    • Thermostat
    • Video Entertainment
    • Smart Appliances
    • Other Systems

    Smart Home Installation Service Market, By Channel

    • OEMs
    • Retailers
    • E-commerce
    • Professional Service Providers
    AttributeReport Details
    Market Size Ask For Market Size
    Growth Rate Ask For Growth Rate
    Key Companies Ask For Companies
    Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more

    Historical Data Period 2015-2020
    Base Year 2022
    Forecast Period 2022-2031
    Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa
    Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa
    Revenue inUS$ Mn

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    • Calix
    • Finite Solutions
    • Handy
    • HelloTech Inc.
    • Maryland Electrical Services LLC
    • Meyer Electrical Services, Inc.
    • Miami Electric Masters
    • Red River Electric
    • Rexel
    • Insteon
    • Smartify Home Automation Limited
    • Vivint, Inc.
    • Other Players
    • Chapter 1 Global Smart Home Installation Service Market Outlook
      • 1.1 Introduction
      • 1.2 Segmentation of Smart Home Installation Service Market Based On System & Channel, and Region
      • 1.3 Drivers
      • 1.4 Restraints
      • 1.5 Opportunities
      • 1.6 Trends
      • 1.7 Macro-economic Factors
      • 1.8 Regulatory Framework
      • 1.9 Global Smart Home Installation Service Market Pricing Analysis by Region, 2021
      • 1.10 Opportunity Map Analysis
        • 1.10.1 Optimistic Scenario
        • 1.10.2 Likely Scenario
        • 1.10.3 Conservative Scenario
      • 1.11 Opportunity Orbits
      • 1.12 Market Investment Feasibility Index
      • 1.13 PEST Analysis
      • 1.14 PORTER’S Five Force Analysis
      • 1.15 Drivers & Restraints Impact Analysis
      • 1.16 Marketing Strategy
      • 1.17 Product Life Cycle Analysis
      • 1.18 Value Chain Analysis
      • 1.19 Cost Structure Analysis
      • 1.20 Regional Market Share and BPS Analysis in Smart Home Installation Service Market
      • 1.21 COVID-19 Impact Analysis
    • Chapter 2 Global Smart Home Installation Service Market Overview
      • 2.1 Global Market Value Comparison by System (2015-2031)
        • 2.1.1 Global Market Value Market Share by System in 2021
        • 2.1.2 Global Attractiveness Analysis by System, 2015–2022
      • 2.2 Global Market Value Comparison by Channel (2015-2031)
        • 2.2.1 Global Market Value Market Share by Channel in 2021
        • 2.2.2 Global Attractiveness Analysis by Channel, 2015–2022
      • 2.3 Global Outlook by Region
        • 2.3.1 Global Market Value Comparison by Region (2015-2031)
        • 2.3.2 Global Market Value Market Share by Region in 2021
        • 2.3.3 Global Attractiveness Analysis by Region, 2015–2022
      • 2.4 Global Outlook (2015-2031)
        • 2.4.1 Global Market Value (2015–2022)
        • 2.4.2 Global Market Value (2023-2031)
      • 2.5 Global Market Value by Regions
        • 2.5.1 Global Market Value Comparison by Region (2015–2022)
        • 2.5.2 Global Market Value Comparison by Region (2023-2031)
      • 2.6 Global Market Value by System
        • 2.6.1 Global Market Value Comparison by System (2015–2022)
        • 2.6.2 Global Market Value Comparison by System (2023-2031)
      • 2.7 Global Market Value by Channel
        • 2.7.1 Global Market Value Comparison by Channel (2015–2022)
        • 2.7.2 Global Market Value Comparison by Channel (2023-2031)
      • 2.8 Global Market Y-o-Y Growth Rate Comparison 2016–2031
        • 2.8.1 Global Market Y-o-Y Growth Rate by Region
        • 2.8.2 Global Market Y-o-Y Growth Rate by System
        • 2.8.3 Global Market Y-o-Y Growth Rate by Channel
      • 2.9 Global Market Share Comparison 2015–2031
        • 2.9.1 Global Market Share by Region
        • 2.9.2 Global Market Share by System
        • 2.9.3 Global Market Share by Channel
    • Chapter 3 North America Smart Home Installation Service Market Overview
      • 3.1 North America by System
        • 3.1.1 North America Market Value Comparison by System (2015-2031)
        • 3.1.2 North America Market Value Market Share by System in 2021
      • 3.2 North America Market Value Comparison by Channel (2015-2031)
        • 3.2.1 North America Market Value Market Share by Channel in 2021
        • 3.2.2 North America Attractiveness Analysis by Channel, 2015–2022
      • 3.3 North America Outlook by Region
        • 3.3.1 North America Market Value Comparison by Region (2015-2031)
        • 3.3.2 North America Market Value Market Share by Region in 2021
        • 3.3.3 North America Attractiveness Analysis by Region, 2015–2022
      • 3.4 North America Outlook (2015-2031)
        • 3.4.1 North America Market Value (2015–2022)
        • 3.4.2 North America Market Value (2023-2031)
      • 3.5 North America Market Value by Regions
        • 3.5.1 North America Market Value Comparison by Region (2015–2022)
        • 3.5.2 North America Market Value Comparison by Region (2023-2031)
      • 3.6 North America Market Value by System
        • 3.6.1 North America Market Value Comparison by System (2015–2022)
        • 3.6.2 North America Market Value Comparison by System (2023-2031)
      • 3.7 North America Market Value by Channel
        • 3.7.1 North America Market Value Comparison by Channel (2015–2022)
        • 3.7.2 North America Market Value Comparison by Channel (2023-2031)
      • 3.8 North America Market Y-o-Y Growth Rate Comparison 2016–2031
        • 3.8.1 North America Market Y-o-Y Growth Rate by Region
        • 3.8.2 North America Market Y-o-Y Growth Rate by System
        • 3.8.3 North America Market Y-o-Y Growth Rate by Channel
      • 3.9 North America Market Share Comparison 2015–2031
        • 3.9.1 North America Market Share by Region
        • 3.9.2 North America Market Share by System
        • 3.9.3 North America Market Share by Channel
    • Chapter 4 Europe Smart Home Installation Service Market Overview
      • 4.1 Europe by System
        • 4.1.1 Europe Market Value Comparison by System (2015-2031)
        • 4.1.2 Europe Market Value Market Share by System in 2021
      • 4.2 Europe Market Value Comparison by Channel (2015-2031)
        • 4.2.1 Europe Market Value Market Share by Channel in 2021
        • 4.2.2 Europe Attractiveness Analysis by Channel, 2015–2022
      • 4.3 Europe Outlook by Region
        • 4.3.1 Europe Market Value Comparison by Region (2015-2031)
        • 4.3.2 Europe Market Value Market Share by Region in 2021
        • 4.3.3 Europe Attractiveness Analysis by Region, 2015–2022
      • 4.4 Europe Outlook (2015-2031)
        • 4.4.1 Europe Market Value (2015–2022)
        • 4.4.2 Europe Market Value (2023-2031)
      • 4.5 Europe Market Value by Regions
        • 4.5.1 Europe Market Value Comparison by Region (2015–2022)
        • 4.5.2 Europe Market Value Comparison by Region (2023-2031)
      • 4.6 Europe Market Value by System
        • 4.6.1 Europe Market Value Comparison by System (2015–2022)
        • 4.6.2 Europe Market Value Comparison by System (2023-2031)
      • 4.7 Europe Market Value by Channel
        • 4.7.1 Europe Market Value Comparison by Channel (2015–2022)
        • 4.7.2 Europe Market Value Comparison by Channel (2023-2031)
      • 4.8 Europe Market Y-o-Y Growth Rate Comparison 2016–2031
        • 4.8.1 Europe Market Y-o-Y Growth Rate by Region
        • 4.8.2 Europe Market Y-o-Y Growth Rate by System
        • 4.8.3 Europe Market Y-o-Y Growth Rate by Channel
      • 4.9 Europe Market Share Comparison 2015–2031
        • 4.9.1 Europe Market Share by Region
        • 4.9.2 Europe Market Share by System
        • 4.9.3 Europe Market Share by Channel
    • Chapter 5 Asia-Pacific Smart Home Installation Service Market Overview
      • 5.1 Asia-Pacific by System
        • 5.1.1 Asia-Pacific Market Value Comparison by System (2015-2031)
        • 5.1.2 Asia-Pacific Market Value Market Share by System in 2021
      • 5.2 Asia-Pacific Market Value Comparison by Channel (2015-2031)
        • 5.2.1 Asia-Pacific Market Value Market Share by Channel in 2021
        • 5.2.2 Asia-Pacific Attractiveness Analysis by Channel, 2015–2022
      • 5.3 Asia-Pacific Outlook by Region
        • 5.3.1 Asia-Pacific Market Value Comparison by Region (2015-2031)
        • 5.3.2 Asia-Pacific Market Value Market Share by Region in 2021
        • 5.3.3 Asia-Pacific Attractiveness Analysis by Region, 2015–2022
      • 5.4 Asia-Pacific Outlook (2015-2031)
        • 5.4.1 Asia-Pacific Market Value (2015–2022)
        • 5.4.2 Asia-Pacific Market Value (2023-2031)
      • 5.5 Asia-Pacific Market Value by Regions
        • 5.5.1 Asia-Pacific Market Value Comparison by Region (2015–2022)
        • 5.5.2 Asia-Pacific Market Value Comparison by Region (2023-2031)
      • 5.6 Asia-Pacific Market Value by System
        • 5.6.1 Asia-Pacific Market Value Comparison by System (2015–2022)
        • 5.6.2 Asia-Pacific Market Value Comparison by System (2023-2031)
      • 5.7 Asia-Pacific Market Value by Channel
        • 5.7.1 Asia-Pacific Market Value Comparison by Channel (2015–2022)
        • 5.7.2 Asia-Pacific Market Value Comparison by Channel (2023-2031)
      • 5.8 Asia-Pacific Market Y-o-Y Growth Rate Comparison 2016–2031
        • 5.8.1 Asia-Pacific Market Y-o-Y Growth Rate by Region
        • 5.8.2 Asia-Pacific Market Y-o-Y Growth Rate by System
        • 5.8.3 Asia-Pacific Market Y-o-Y Growth Rate by Channel
      • 5.9 Asia-Pacific Market Share Comparison 2015–2031
        • 5.9.1 Asia-Pacific Market Share by Region
        • 5.9.2 Asia-Pacific Market Share by System
        • 5.9.3 Asia-Pacific Market Share by Channel
    • Chapter 6 Latin America Smart Home Installation Service Market Overview
      • 6.1 Latin America by System
        • 6.1.1 Latin America Market Value Comparison by System (2015-2031)
        • 6.1.2 Latin America Market Value Market Share by System in 2021
      • 6.2 Latin America Market Value Comparison by Channel (2015-2031)
        • 6.2.1 Latin America Market Value Market Share by Channel in 2021
        • 6.2.2 Latin America Attractiveness Analysis by Channel, 2015–2022
      • 6.3 Latin America Outlook by Region
        • 6.3.1 Latin America Market Value Comparison by Region (2015-2031)
        • 6.3.2 Latin America Market Value Market Share by Region in 2021
        • 6.3.3 Latin America Attractiveness Analysis by Region, 2015–2022
      • 6.4 Latin America Outlook (2015-2031)
        • 6.4.1 Latin America Market Value (2015–2022)
        • 6.4.2 Latin America Market Value (2023-2031)
      • 6.5 Latin America Market Value by Regions
        • 6.5.1 Latin America Market Value Comparison by Region (2015–2022)
        • 6.5.2 Latin America Market Value Comparison by Region (2023-2031)
      • 6.6 Latin America Market Value by System
        • 6.6.1 Latin America Market Value Comparison by System (2015–2022)
        • 6.6.2 Latin America Market Value Comparison by System (2023-2031)
      • 6.7 Latin America Market Value by Channel
        • 6.7.1 Latin America Market Value Comparison by Channel (2015–2022)
        • 6.7.2 Latin America Market Value Comparison by Channel (2023-2031)
      • 6.8 Latin America Market Y-o-Y Growth Rate Comparison 2016–2031
        • 6.8.1 Latin America Market Y-o-Y Growth Rate by Region
        • 6.8.2 Latin America Market Y-o-Y Growth Rate by System
        • 6.8.3 Latin America Market Y-o-Y Growth Rate by Channel
      • 6.9 Latin America Market Share Comparison 2015–2031
        • 6.9.1 Latin America Market Share by Region
        • 6.9.2 Latin America Market Share by System
        • 6.9.3 Latin America Market Share by Channel
    • Chapter 7 MEA Smart Home Installation Service Market Overview
      • 7.1 MEA by System
        • 7.1.1 MEA Market Value Comparison by System (2015-2031)
        • 7.1.2 MEA Market Value Market Share by System in 2021
      • 7.2 MEA Market Value Comparison by Channel (2015-2031)
        • 7.2.1 MEA Market Value Market Share by Channel in 2021
        • 7.2.2 MEA Attractiveness Analysis by Channel, 2015–2022
      • 7.3 MEA Outlook by Region
        • 7.3.1 MEA Market Value Comparison by Region (2015-2031)
        • 7.3.2 MEA Market Value Market Share by Region in 2021
        • 7.3.3 MEA Attractiveness Analysis by Region, 2015–2022
      • 7.4 MEA Outlook (2015-2031)
        • 7.4.1 MEA Market Value (2015–2022)
        • 7.4.2 MEA Market Value (2023-2031)
      • 7.5 MEA Market Value by Regions
        • 7.5.1 MEA Market Value Comparison by Region (2015–2022)
        • 7.5.2 MEA Market Value Comparison by Region (2023-2031)
      • 7.6 MEA Market Value by System
        • 7.6.1 MEA Market Value Comparison by System (2015–2022)
        • 7.6.2 MEA Market Value Comparison by System (2023-2031)
      • 7.7 MEA Market Value by Channel
        • 7.7.1 MEA Market Value Comparison by Channel (2015–2022)
        • 7.7.2 MEA Market Value Comparison by Channel (2023-2031)
      • 7.8 MEA Market Y-o-Y Growth Rate Comparison 2016–2031
        • 7.8.1 MEA Market Y-o-Y Growth Rate by Region
        • 7.8.2 MEA Market Y-o-Y Growth Rate by System
        • 7.8.3 MEA Market Y-o-Y Growth Rate by Channel
      • 7.9 MEA Market Share Comparison 2015–2031
        • 7.9.1 MEA Market Share by Region
        • 7.9.2 MEA Market Share by System
        • 7.9.3 MEA Market Share by Channel
    • Chapter 8 Global Smart Home Installation Service Market Company Profiles
      • 8.1 Market Competition Scenario Analysis, By Company
      • 8.2 Competitor Landscape
      • 8.3 Company Share Analysis
      • 8.4 Company Profiles
        • 8.4.1 Calix
          • 8.4.1.1 Company Overview
          • 8.4.1.2 Business Description
          • 8.4.1.3 Product Portfolio
          • 8.4.1.4 Key Financials
          • 8.4.1.5 Key Developments
          • 8.4.1.6 SWOT Analysis
        • 8.4.2 Finite Solutions
          • 8.4.2.1 Company Overview
          • 8.4.2.2 Business Description
          • 8.4.2.3 Product Portfolio
          • 8.4.2.4 Key Financials
          • 8.4.2.5 Key Developments
          • 8.4.2.6 SWOT Analysis
        • 8.4.3 Handy
          • 8.4.3.1 Company Overview
          • 8.4.3.2 Business Description
          • 8.4.3.3 Product Portfolio
          • 8.4.3.4 Key Financials
          • 8.4.3.5 Key Developments
          • 8.4.3.6 SWOT Analysis
        • 8.4.4 HelloTech Inc.
          • 8.4.4.1 Company Overview
          • 8.4.4.2 Business Description
          • 8.4.4.3 Product Portfolio
          • 8.4.4.4 Key Financials
          • 8.4.4.5 Key Developments
          • 8.4.4.6 SWOT Analysis
        • 8.4.5 Maryland Electrical Services LLC
          • 8.4.5.1 Company Overview
          • 8.4.5.2 Business Description
          • 8.4.5.3 Product Portfolio
          • 8.4.5.4 Key Financials
          • 8.4.5.5 Key Developments
          • 8.4.5.6 SWOT Analysis
        • 8.4.6 Maryland Electrical Services LLC
          • 8.4.6.1 Company Overview
          • 8.4.6.2 Business Description
          • 8.4.6.3 Product Portfolio
          • 8.4.6.4 Key Financials
          • 8.4.6.5 Key Developments
          • 8.4.6.6 SWOT Analysis
        • 8.4.7 Miami Electric Masters
          • 8.4.7.1 Company Overview
          • 8.4.7.2 Business Description
          • 8.4.7.3 Product Portfolio
          • 8.4.7.4 Key Financials
          • 8.4.7.5 Key Developments
          • 8.4.7.6 SWOT Analysis
        • 8.4.8 Red River Electric
          • 8.4.8.1 Company Overview
          • 8.4.8.2 Business Description
          • 8.4.8.3 Product Portfolio
          • 8.4.8.4 Key Financials
          • 8.4.8.5 Key Developments
          • 8.4.8.6 SWOT Analysis
        • 8.4.9 Rexel
          • 8.4.9.1 Company Overview
          • 8.4.9.2 Business Description
          • 8.4.9.3 Product Portfolio
          • 8.4.9.4 Key Financials
          • 8.4.9.5 Key Developments
          • 8.4.9.6 SWOT Analysis
        • 8.4.10 Insteon
          • 8.4.10.1 Company Overview
          • 8.4.10.2 Business Description
          • 8.4.10.3 Product Portfolio
          • 8.4.10.4 Key Financials
          • 8.4.10.5 Key Developments
          • 8.4.10.6 SWOT Analysis
        • 8.4.11 Other Key Players
    • Chapter 9 Research Methodology
      • 9.1 Research Methodology
      • 9.2 Primary Research
      • 9.3 Secondary Research
      • 9.4 Report Scope
    • Chapter 10 About Us
      • 10.1 Who we are:
    • Chapter 11 Disclaimer

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