By related markets. For example, the size of frequency converters used in electric motors can be calculated knowing the size of the market for electric motors themselves and the share of frequency converters used.
When using this method, the product consumption standards are summed up, multiplied by the number of consumers. For example, the size of the sausage market can be calculated knowing the consumption rate of these products per person.
Extrapolation or forecasting. If you have a sufficiently large south korea cell phone number list volume of historical data on your market, and you understand the logic of your market development, you can confidently calculate the market size for the coming period.
Important points when calculating market capacity and size:
To calculate these indicators, it is better to combine several methods, this will significantly reduce the error in the calculations.
If you are limited in time or budget, or if you do not require high data accuracy, calculation based on secondary data (desk marketing research) is ideal for you.
Do not rely only on "qualitative" methods in your calculations, always supplement them with quantitative data. You cannot talk about the size of the market by conducting only a series of focus groups.
Be careful when calculating in value terms, use market price data correctly.