Elevator Modernization Market 2020-2026 by Modernization Type (Partial, Full), Elevator Type (Hydraulic, Traction), Component, Application (Industrial, Residential, Commercial), and Region: Trend Forecast and Growth Opportunity
- Report ID: 3520
- Date: Sep, 2021
- Pages: 160
- Category: Manufacturing & Constructions
Global elevator modernization market will reach $14.8 billion by 2026, growing by 5.1% annually over 2020-2026 owing to the rising need for upgrading elevators across the globe.
Highlighted with 85 tables and 80 figures, this 160-page report “Global Elevator Modernization Market 2020-2026 by Modernization Type (Partial, Full), Elevator Type (Hydraulic, Traction), Component, Application (Industrial, Residential, Commercial), and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global elevator modernization market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain.
The report is based on studies on 2015-2019 and provides forecast from 2020 till 2026 with 2019 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global elevator modernization market in every aspect of the classification from perspectives of Modernization Type, Elevator Type, Component, Application, and Region.
Based on Modernization Type, the global market is segmented into the following sub-markets with annual revenue for 2015-2026 included in each section.
• Full Modernization
• Partial Modernization
Based on Elevator Type, the global market is segmented into the following sub-markets with annual revenue for 2015-2026 included in each section.
Hydraulic Elevators
• Conventional Hydraulic Elevators
• Hole-less Hydraulic Elevators
• Roped Hydraulic Elevators
Traction Elevators
• Geared Traction Elevators
• Gear-less Traction Elevators
• Machine Room-Less Elevators
Climbing Elevators
Pneumatic/Vacuum Elevators
Based on Component, the global market is segmented into the following sub-markets with annual revenue for 2015-2026 included in each section.
Power Units
Cabin Enclosures
Controllers
• Relay based
• Solid state
• PLC
Signaling Fixtures
Door Equipment
Other Components
Based on Application, the global market is segmented into the following sub-markets with annual revenue for 2015-2026 included in each section.
• Industrial Application
• Residential Application
• Commercial Application
Geographically, the following regions together with the listed national/local markets are fully investigated:
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• RoW (Saudi Arabia, UAE, Egypt)
For each aforementioned region and country, detailed analysis and data for annual revenue are available for 2015-2026. The breakdown of all regional markets by country and split of key national markets by Elevator Type, Component, and Application over the forecast years are also included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Specifically, potential risks associated with investing in global elevator modernization market are assayed quantitatively and qualitatively through GMD’s Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders identify emerging opportunities, manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions.
Key Players (this may not be a complete list and extra companies can be added upon request):
Doppler S.A.
Fujitec Co., Ltd.
Hitachi, Ltd.
Hyundai Elevator Co., Ltd.
Johnson Lifts Private Ltd
KONE Corporation
Magnetek, Inc.
Mitsubishi Electric Corporation
Otis Elevator Company
Richmond Elevator (REM)
Schindler Holding Ltd.
Sematic S.p.A
Siemens AG
ThyssenKrupp Elevator AG
Toshiba Elevator and Building Systems Corporation (TOSHIBA)
United Technologies Corporation
Wittur Group
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
1.1 Industry Definition and Research Scope 8
1.1.1 Industry Definition 8
1.1.2 Research Scope 9
1.2 Research Methodology 12
1.2.1 Overview of Market Research Methodology 12
1.2.2 Market Assumption 13
1.2.3 Secondary Data 13
1.2.4 Primary Data 13
1.2.5 Data Filtration and Model Design 15
1.2.6 Market Size/Share Estimation 16
1.2.7 Research Limitations 17
1.3 Executive Summary 18
2 Market Overview and Dynamics 20
2.1 Market Size and Forecast 20
2.2 Major Growth Drivers 21
2.3 Market Restraints and Challenges 24
2.4 Emerging Opportunities and Market Trends 27
2.5 Porter’s Fiver Forces Analysis 31
3 Segmentation of Global Market by Modernization Type 35
3.1 Market Overview by Modernization Type 35
3.2 Full Modernization 37
3.3 Partial Modernization 38
4 Segmentation of Global Market by Elevator Type 39
4.1 Market Overview by Elevator Type 39
4.2 Hydraulic Elevators 41
4.2.1 Conventional Hydraulic Elevators 42
4.2.2 Hole-less Hydraulic Elevators 43
4.2.3 Roped Hydraulic Elevators 44
4.3 Traction Elevators 45
4.3.1 Geared Traction Elevators 46
4.3.2 Gear-less Traction Elevators 47
4.3.3 Machine Room-Less Elevators 48
4.4 Climbing Elevators 49
4.5 Pneumatic/Vacuum Elevators 50
5 Segmentation of Global Market by Component 51
5.1 Market Overview by Component 51
5.2 Power Units 53
5.3 Cabin Enclosures 54
5.4 Controllers 55
5.5 Signaling Fixtures 56
5.6 Door Equipment 57
5.7 Other Components 58
6 Segmentation of Global Market by Application 59
6.1 Market Overview by Application 59
6.2 Industrial Application 61
6.3 Residential Application 62
6.4 Commercial Application 63
7 Segmentation of Global Market by Region 64
7.1 Geographic Market Overview 2019-2026 64
7.2 North America Market 2019-2026 by Country 68
7.2.1 Overview of North America Market 68
7.2.2 U.S. 71
7.2.3 Canada 75
7.2.4 Mexico 77
7.3 European Market 2019-2026 by Country 79
7.3.1 Overview of European Market 79
7.3.2 UK 82
7.3.3 France 84
7.3.4 Germany 86
7.3.5 Spain 88
7.3.6 Italy 90
7.3.7 Russia 92
7.3.8 Rest of European Market 94
7.4 Asia-Pacific Market 2019-2026 by Country 96
7.4.1 Overview of Asia-Pacific Market 96
7.4.2 China 99
7.4.3 Japan 101
7.4.4 India 104
7.4.5 Australia 106
7.4.6 South Korea 108
7.4.7 Rest of APAC Region 110
7.5 South America Market 2019-2026 by Country 112
7.5.1 Argentina 115
7.5.2 Brazil 117
7.5.3 Chile 119
7.5.4 Rest of South America Market 121
7.6 Rest of World Market 2019-2026 by Country 122
7.6.1 UAE 125
7.6.2 Saudi Arabia 127
7.6.3 Egypt 129
7.6.4 Other National Markets 131
8 Competitive Landscape 132
8.1 Overview of Key Vendors 132
8.2 New Product Launch, Partnership, Investment, and M&A 135
8.3 Company Profiles 136
Doppler S.A. 136
Fujitec Co., Ltd. 138
Hitachi, Ltd. 139
Hyundai Elevator Co., Ltd. 140
Johnson Lifts Private Ltd 141
KONE Corporation 142
Magnetek, Inc. 143
Mitsubishi Electric Corporation 144
Otis Elevator Company 145
Richmond Elevator (REM) 146
Schindler Holding Ltd. 147
Sematic S.p.A 148
Siemens AG 149
ThyssenKrupp Elevator AG 150
Toshiba Elevator and Building Systems Corporation (TOSHIBA) 151
United Technologies Corporation 152
Wittur Group 153
9 Investing in Global Market: Risk Assessment and Management 154
9.1 Risk Evaluation of Global Market 154
9.2 Critical Success Factors (CSFs) 157
Related Reports and Products 160
List of Tables
Table 1. Snapshot of Global Elevator Modernization Market, 2019-2026 19Table 2. Main Product Trends and Market Opportunities in Global Elevator Modernization Market 27
Table 3. Global Elevator Modernization Market by Modernization Type, 2015-2026, $ mn 35
Table 4. Global Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 39
Table 5. Global Elevator Modernization Market: Hydraulic Elevators by Elevator Type, 2015-2026, $ mn 41
Table 6. Global Elevator Modernization Market: Traction Elevators by Elevator Type, 2015-2026, $ mn 45
Table 7. Global Elevator Modernization Market by Component, 2015-2026, $ mn 51
Table 8. Global Elevator Modernization Market: Controllers by Type, 2015-2026, $ mn 55
Table 9. Global Elevator Modernization Market by Application, 2015-2026, $ mn 59
Table 10. Global Elevator Modernization Market by Region, 2015-2026, $ mn 65
Table 11. Leading National Elevator Modernization Market, 2019 and 2026, $ mn 67
Table 12. North America Elevator Modernization Market by Country, 2015-2026, $ mn 70
Table 13. U.S. Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 73
Table 14. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 73
Table 15. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 73
Table 16. Canada Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 76
Table 17. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 76
Table 18. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 76
Table 19. Mexico Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 78
Table 20. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 78
Table 21. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 78
Table 22. Europe Elevator Modernization Market by Country, 2015-2026, $ mn 81
Table 23. UK Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 83
Table 24. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 83
Table 25. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 83
Table 26. France Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 85
Table 27. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 85
Table 28. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 85
Table 29. Germany Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 87
Table 30. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 87
Table 31. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 87
Table 32. Spain Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 89
Table 33. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 89
Table 34. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 89
Table 35. Italy Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 91
Table 36. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 91
Table 37. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 91
Table 38. Russia Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 93
Table 39. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 93
Table 40. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 93
Table 41. Elevator Modernization Market in Rest of Europe by Country, 2015-2026, $ mn 95
Table 42. APAC Elevator Modernization Market by Country, 2015-2026, $ mn 98
Table 43. China Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 100
Table 44. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 100
Table 45. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 100
Table 46. Japan Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 103
Table 47. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 103
Table 48. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 103
Table 49. India Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 105
Table 50. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 105
Table 51. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 105
Table 52. Australia Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 107
Table 53. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 107
Table 54. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 107
Table 55. South Korea Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 109
Table 56. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 109
Table 57. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 109
Table 58. Elevator Modernization Market in Rest of APAC by Country, 2015-2026, $ mn 111
Table 59. South America Elevator Modernization Market by Country, 2015-2026, $ mn 114
Table 60. Argentina Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 116
Table 61. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 116
Table 62. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 116
Table 63. Brazil Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 118
Table 64. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 118
Table 65. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 118
Table 66. Chile Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 120
Table 67. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 120
Table 68. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 120
Table 69. RoW Elevator Modernization Market by Country, 2015-2026, $ mn 124
Table 70. UAE Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 126
Table 71. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 126
Table 72. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 126
Table 73. Saudi Arabia Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 128
Table 74. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 128
Table 75. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 128
Table 76. Egypt Elevator Modernization Market by Elevator Type, 2015-2026, $ mn 130
Table 77. U.S. Elevator Modernization Market by Component, 2015-2026, $ mn 130
Table 78. U.S. Elevator Modernization Market by Application, 2015-2026, $ mn 130
Table 79. Doppler S.A.: Company Snapshot 136
Table 80. Doppler S.A.: Business Segmentation 136
Table 81. Doppler S.A.: Product Portfolio 137
Table 82. Doppler S.A.: Revenue, 2016-2018, $ mn 137
Table 83. Doppler S.A.: Recent Developments 137
Table 84. Risk Evaluation for Investing in Global Market, 2019-2026 155
Table 85. Critical Success Factors and Key Takeaways 158
List of Figures
Figure 1. Research Method Flow Chart 12Figure 2. Breakdown of Primary Research 14
Figure 3. Bottom-up Approach and Top-down Approach for Market Estimation 16
Figure 4. Global Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2019-2026 18
Figure 5. Global Elevator Modernization Market, 2019-2026, $ mn 20
Figure 6. Primary Drivers and Impact Factors of Global Elevator Modernization Market 21
Figure 7. Primary Restraints and Impact Factors of Global Elevator Modernization Market 24
Figure 8. Investment Opportunity Analysis 28
Figure 9. Porter’s Fiver Forces Analysis of Global Elevator Modernization Market 31
Figure 10. Breakdown of Global Elevator Modernization Market by Modernization Type, 2019-2026, % of Revenue 35
Figure 11. Contribution to Global 2020-2026 Cumulative Revenue by Modernization Type, Value ($ mn) and Share (%) 36
Figure 12. Global Elevator Modernization Market: Full Modernization, 2015-2026, $ mn 37
Figure 13. Global Elevator Modernization Market: Partial Modernization, 2015-2026, $ mn 38
Figure 14. Breakdown of Global Elevator Modernization Market by Elevator Type, 2019-2026, % of Revenue 39
Figure 15. Contribution to Global 2020-2026 Cumulative Revenue by Elevator Type, Value ($ mn) and Share (%) 40
Figure 16. Global Elevator Modernization Market: Hydraulic Elevators, 2015-2026, $ mn 41
Figure 17. Global Elevator Modernization Market: Conventional Hydraulic Elevators, 2015-2026, $ mn 42
Figure 18. Global Elevator Modernization Market: Hole-less Hydraulic Elevators, 2015-2026, $ mn 43
Figure 19. Global Elevator Modernization Market: Roped Hydraulic Elevators, 2015-2026, $ mn 44
Figure 20. Global Elevator Modernization Market: Traction Elevators, 2015-2026, $ mn 45
Figure 21. Global Elevator Modernization Market: Geared Traction Elevators, 2015-2026, $ mn 46
Figure 22. Global Elevator Modernization Market: Gear-less Traction Elevators, 2015-2026, $ mn 47
Figure 23. Global Elevator Modernization Market: Machine Room-Less Elevators, 2015-2026, $ mn 48
Figure 24. Global Elevator Modernization Market: Climbing Elevators, 2015-2026, $ mn 49
Figure 25. Global Elevator Modernization Market: Pneumatic/Vacuum Elevators, 2015-2026, $ mn 50
Figure 26. Breakdown of Global Elevator Modernization Market by Component, 2019-2026, % of Revenue 51
Figure 27. Contribution to Global 2020-2026 Cumulative Revenue by Component, Value ($ mn) and Share (%) 52
Figure 28. Global Elevator Modernization Market: Power Units, 2015-2026, $ mn 53
Figure 29. Global Elevator Modernization Market: Cabin Enclosures, 2015-2026, $ mn 54
Figure 30. Global Elevator Modernization Market: Controllers, 2015-2026, $ mn 55
Figure 31. Global Elevator Modernization Market: Signaling Fixtures, 2015-2026, $ mn 56
Figure 32. Global Elevator Modernization Market: Door Equipment, 2015-2026, $ mn 57
Figure 33. Global Elevator Modernization Market: Other Components, 2015-2026, $ mn 58
Figure 34. Breakdown of Global Elevator Modernization Market by Application, 2019-2026, % of Revenue 59
Figure 35. Contribution to Global 2020-2026 Cumulative Revenue by Application, Value ($ mn) and Share (%) 60
Figure 36. Global Elevator Modernization Market: Industrial Application, 2015-2026, $ mn 61
Figure 37. Global Elevator Modernization Market: Residential Application, 2015-2026, $ mn 62
Figure 38. Global Elevator Modernization Market: Commercial Application, 2015-2026, $ mn 63
Figure 39. Global Market Snapshot by Region 64
Figure 40. Geographic Spread of Worldwide Elevator Modernization Market, 2019-2026, % of Revenue 65
Figure 41. Contribution to Global 2020-2026 Cumulative Revenue by Region, Value ($ mn) and Share (%) 66
Figure 42. North American Elevator Modernization Market, 2015-2026, $ mn 69
Figure 43. Breakdown of North America Elevator Modernization Market by Country, 2019 and 2026, % of Revenue 69
Figure 44. Contribution to North America 2020-2026 Cumulative Revenue by Country, Value ($ mn) and Share (%) 70
Figure 45. U.S. Elevator Modernization Market, 2015-2026, $ mn 72
Figure 46. Canada Elevator Modernization Market, 2015-2026, $ mn 75
Figure 47. Elevator Modernization Market in Mexico, 2015-2026, $ mn 77
Figure 48. European Elevator Modernization Market, 2015-2026, $ mn 80
Figure 49. Breakdown of European Elevator Modernization Market by Country, 2019 and 2026, % of Revenue 80
Figure 50. Contribution to Europe 2020-2026 Cumulative Revenue by Country, Value ($ mn) and Share (%) 81
Figure 51. Elevator Modernization Market in UK, 2015-2026, $ mn 82
Figure 52. Elevator Modernization Market in France, 2015-2026, $ mn 84
Figure 53. Elevator Modernization Market in Germany, 2015-2026, $ mn 86
Figure 54. Elevator Modernization Market in Spain, 2015-2026, $ mn 88
Figure 55. Elevator Modernization Market in Italy, 2015-2026, $ mn 90
Figure 56. Elevator Modernization Market in Russia, 2015-2026, $ mn 92
Figure 57. Elevator Modernization Market in Rest of Europe, 2015-2026, $ mn 94
Figure 58. Asia-Pacific Elevator Modernization Market, 2015-2026, $ mn 97
Figure 59. Breakdown of APAC Elevator Modernization Market by Country, 2019 and 2026, % of Revenue 97
Figure 60. Contribution to APAC 2020-2026 Cumulative Revenue by Country, Value ($ mn) and Share (%) 98
Figure 61. Elevator Modernization Market in China, 2015-2026, $ mn 99
Figure 62. Elevator Modernization Market in Japan, 2015-2026, $ mn 102
Figure 63. Elevator Modernization Market in India, 2015-2026, $ mn 104
Figure 64. Elevator Modernization Market in Australia, 2015-2026, $ mn 106
Figure 65. Elevator Modernization Market in South Korea, 2015-2026, $ mn 108
Figure 66. Elevator Modernization Market in Rest of APAC, 2015-2026, $ mn 110
Figure 67. South America Elevator Modernization Market, 2015-2026, $ mn 113
Figure 68. Breakdown of South America Elevator Modernization Market by Country, 2019 and 2026, % of Revenue 113
Figure 69. Contribution to South America 2020-2026 Cumulative Revenue by Country, Value ($ mn) and Share (%) 114
Figure 70. Elevator Modernization Market in Argentina, 2015-2026, $ mn 115
Figure 71. Elevator Modernization Market in Brazil, 2015-2026, $ mn 117
Figure 72. Elevator Modernization Market in Chile, 2015-2026, $ mn 119
Figure 73. Elevator Modernization Market in Rest of South America, 2015-2026, $ mn 121
Figure 74. Elevator Modernization Market in Rest of the World (RoW), 2015-2026, $ mn 123
Figure 75. Breakdown of RoW Elevator Modernization Market by Country, 2019 and 2026, % of Revenue 123
Figure 76. Contribution to RoW 2020-2026 Cumulative Revenue by Country, Value ($ mn) and Share (%) 124
Figure 77. Elevator Modernization Market in UAE, 2015-2026, $ mn 125
Figure 78. Elevator Modernization Market in Saudi Arabia, 2015-2026, $ mn 127
Figure 79. Elevator Modernization Market in Egypt, 2015-2026, $ mn 129
Figure 80. Growth Stage of Global Elevator Modernization Industry over the Forecast Period 132
Research methodology is mainly referring to the practical how of any offered piece of research. More specifically, it’s all about how a researcher systematically designs a study in order to assure extremely valid as well as reliable results that ultimately address the targets and objectives of the research.
In any formal research including academic journal, article, dissertation and so on, there will be a special section on a research methodology that mainly describes what, by whom, how to gather as well as how to evaluate the data are provided.
This research methodology has been segmented into following types:
Primary Research:
It is said to be original information that the researchers collect for the crucial purposes of answering the research questions of readers with the help of surveys, observations and experiments.
Secondary Research:
The secondary research is the data that has already been collected by various other researchers in the form of government analysis or scientific studies.
Qualitative Research:
It is descriptive and subjective method irrespective of facts. Both observation and description are essential in this type of research methodology. Its main vision is to analyze knowledge, attitudes, behaviours as well as opinions of people related to the topic of any research. This method has been operated through grounded research, case study and actionable research.
Quantitative Research:
It contains several laboratory experiments, basic surveys, mathematical calculations, simulations and so on. The possible measurement, quantity or amount is considered to be a major factor in the quantitative research methodology.
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