Market size growth survival in multi-generation technology environment: A predictive review of the Indian air-conditioner and refrigerator industry
Ayan Chattopadhyay and
Additional contact information
Ayan Chattopadhyay: Associate Professor; Army Institute of Management Kolkata, Judges Court Road, Alipore, Kolkata-700027 Maulana Abul Kalam Azad University of Technology, India
Somarata Chakraborty: Assistant Professor; Army Institute of Management Kolkata, Judges Court Road, Alipore, Kolkata-700027, Maulana Abul Kalam Azad University of Technology, India
Asian Journal of Empirical Research, 2019, vol. 9, issue 5, 132-146
The ensuing paper aims to explore the future growth pattern of the market size of air-conditioner and refrigerator industry in India. Though this industry has witnessed phenomenal growth in the past, with multi-generation technology products driving it, its growth has remained erratic in nature. This paper also ratifies if the industry would survive the existing market size growth trend. In this predictive assessment, univariate time series data of net sales, collected from CMIE, is used. The data, spreading across 14 years, have 56 observations and exhibit both trend and seasonality. Forecast of market size is made using the best model derived from comparative approaches that include SARIMA, triple exponential smoothing and neural network. SARIMA model is found to best fit the historical data for predictive purpose and the study outcome suggests market size to grow till 2020. Finally, Weibull?s function is used to analyze reliability of the forecast results which indicates diminishing trend of the market size growth. Finally, it is concluded that the current erratic nature of market size growth would disappear.
Keywords: SARIMA; Triple exponential smoothing; Neural network autoregressive; Market size; Forecasting; Weibull?s function (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:asi:ajoerj:2019:p:132-146
Access Statistics for this article
Asian Journal of Empirical Research is currently edited by Kashif Imran ( Managing Editor)
More articles in Asian Journal of Empirical Research from Asian Economic and Social Society 2637 E Atlantic Blvd #43110 Pompano Beach, FL 33062, USA.
Bibliographic data for series maintained by Chan Hoi Yan ().