3D Printing Metal Market Strategies and Share 2031
The 3D printing metal market is expected to grow from US$ 4.5 billion in 2021 to more than US$ 13 billion by 2031 at a CAGR of 16.5% between 2022 and 2031.
A growing number of metals and metal alloys can be 3D printed. These metals include aluminum, titanium, nickel, copper, bronze, cobalt, steel, stainless steel, tungsten, nickel-based alloys, and precious metals such as gold, silver, and platinum. All these different metals offer various properties, which make them suitable for a wide range of applications. Metal 3D printing material is available in various formats, catering to different metal 3D printing methods. The most common formats are powder, wire, and filament. The commonly used techniques for metal additive manufacturing are powder bed fusion techniques, which include direct metal laser sintering (DMLS), selective laser melting (SLM), and electron beam melting (EBM). 3D printing metals are used in different industries such as aerospace & defense, automotive, medical, and construction.
MARKET DYNAMICS
The 3D printing metal market is mainly driven by the growing use of 3D printed metal parts in aerospace & defense and automotive industries. The aerospace industry is hugely benefiting from the continuing uptake of additive manufacturing with the growing use of metals in the process. There are various benefits of metal 3D printing in aerospace manufacturing. With 3D printing, previously complex parts can be simplified into one precisely printed component rather than putting them together from multiple individual components. In addition, market players are launching metal additive manufacturing machines that are faster, easier to use, and more powerful with an increasing number of compatible metals. Further, various industries are adopting 3D metal printing technologies to produce cost-effective metal parts and prototypes, benefiting from increased freedom of design linked to additive manufacturing. All these factors are fueling the 3D printing metal market growth.
MARKET SCOPE
The "Global 3D Printing Metal Market Analysis to 2031" is a specialized and in-depth study of the 3D printing metal industry with a special focus on global market trend analysis. The report aims to provide an overview of the market with detailed market segmentation by metal type, form, and end-use industry. The global 3D printing metal market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the market.
Strategic Insights
MARKET SEGMENTATION
The global 3D printing metal market is segmented based on metal type, form, and end-use industry. Based on metal type, the market is segmented into titanium, nickel, stainless steel, aluminum, and others. In terms of form, the market is segmented into powder, filament, and others. Based on end-use industry, the market is segmented into aerospace & defense, automotive, medical, construction, and others.
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides overview and forecast of the global 3D printing metal market based on various segments. It also provides market size and forecast estimates from 2021 to 2031 with respect to five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. Each region's low GWP refrigerants market is later subsegmented into respective countries and segments. The report covers analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in five major regions.
From the regional perspective, Asia Pacific is expected to register the fastest growth during the forecast period. The dominance can be attributed to the rapid adoption of metal 3D printing in various industries such as automotive, medical, and construction. The region is also emerging as a manufacturing hub for automotive and healthcare industries. Countries such as India and China mainly contribute to the growth of the 3D printing metal market in Asia Pacific.
The below figure showcases the revenue growth trend in the 3D printing metal market:
The report analyzes factors affecting the 3D printing metal market from both demand and supply side and further evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive Porter's five forces analysis highlighting the factors affecting the 3D printing metal market.
IMPACT OF COVID-19 PANDEMIC
Before the COVID-19 pandemic, the 3D printing metal market was mainly driven by the growing use of 3D printed metal parts in various end-use industries such as automotive, aerospace & defense, and medical. However, the pandemic drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the 3D printing metal market. Due to the adverse impact of the COVID-19 pandemic on various end-use industries, the consumption of 3D printing metals was reduced. The global market for all types of cars was negatively affected due to the COVID-19 pandemic. The pandemic also brought about a dramatic decline in automotive vehicle sales. Moreover, the pandemic caused fluctuation in the prices of 3D printing metals. Prices of various metals increased due to supply chain disruptions caused by the pandemic. However, as the economies are reviving their operations, the demand for 3D printing metals is improving. The reopening of business activities in automotive and construction industries is expected to propel the consumption of 3D printing metals, thereby bolstering the market growth.
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The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides overview and forecast of the global 3D printing metal market based on various segments. It also provides market size and forecast estimates from 2021 to 2031 with respect to five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. Each region's low GWP refrigerants market is later subsegmented into respective countries and segments. The report covers analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in five major regions.
From the regional perspective, Asia Pacific is expected to register the fastest growth during the forecast period. The dominance can be attributed to the rapid adoption of metal 3D printing in various industries such as automotive, medical, and construction. The region is also emerging as a manufacturing hub for automotive and healthcare industries. Countries such as India and China mainly contribute to the growth of the 3D printing metal market in Asia Pacific.
The below figure showcases the revenue growth trend in the 3D printing metal market:
The report analyzes factors affecting the 3D printing metal market from both demand and supply side and further evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive Porter's five forces analysis highlighting the factors affecting the 3D printing metal market.
IMPACT OF COVID-19 PANDEMIC
Before the COVID-19 pandemic, the 3D printing metal market was mainly driven by the growing use of 3D printed metal parts in various end-use industries such as automotive, aerospace & defense, and medical. However, the pandemic drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the 3D printing metal market. Due to the adverse impact of the COVID-19 pandemic on various end-use industries, the consumption of 3D printing metals was reduced. The global market for all types of cars was negatively affected due to the COVID-19 pandemic. The pandemic also brought about a dramatic decline in automotive vehicle sales. Moreover, the pandemic caused fluctuation in the prices of 3D printing metals. Prices of various metals increased due to supply chain disruptions caused by the pandemic. However, as the economies are reviving their operations, the demand for 3D printing metals is improving. The reopening of business activities in automotive and construction industries is expected to propel the consumption of 3D printing metals, thereby bolstering the market growth.
MARKET PLAYERS
The report covers key developments in the 3D printing metal market i.e. organic and inorganic growth strategies. Various companies are focusing on organic growth strategies, such as product launches, product approvals, and patents and events. Inorganic growth strategies in the market are acquisitions, partnerships, and collaborations. These activities have paved the way for business expansion and market players' customer base. The market players in the 3D printing metal market are anticipated to have lucrative growth opportunities in the future with the rising demand for 3D printing metals. Below is a list of a few companies engaged in the 3D printing metal market.
The report also includes the profiles of key 3D printing metal market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, and key development in the past five years.
- Stratasys
- CRS Holdings, LLC.
- Materialise
- Sandvik AB
- Höganäs AB
- EOS
- Desktop Metal, Inc.
- SLM Solutions
- Sculpteo
- Markforged
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Metal Type, Form, End-Use Industry, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 3D Printing Metal Market - By Metal Type
1.3.2 3D Printing Metal Market - By Form
1.3.3 3D Printing Metal Market - By Technology
1.3.4 3D Printing Metal Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. 3D PRINTING METAL MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. 3D PRINTING METAL MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. 3D PRINTING METAL MARKET - GLOBAL MARKET ANALYSIS
6.1. 3D PRINTING METAL - GLOBAL MARKET OVERVIEW
6.2. 3D PRINTING METAL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. 3D PRINTING METAL MARKET - REVENUE AND FORECASTS TO 2028 - METAL TYPE
7.1. OVERVIEW
7.2. METAL TYPE MARKET FORECASTS AND ANALYSIS
7.3. TITANIUM
7.3.1. Overview
7.3.2. Titanium Market Forecast and Analysis
7.4. NICKEL
7.4.1. Overview
7.4.2. Nickel Market Forecast and Analysis
7.5. STAINLESS STEEL
7.5.1. Overview
7.5.2. Stainless Steel Market Forecast and Analysis
7.6. ALUMINUM
7.6.1. Overview
7.6.2. Aluminum Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. 3D PRINTING METAL MARKET - REVENUE AND FORECASTS TO 2028 - FORM
8.1. OVERVIEW
8.2. FORM MARKET FORECASTS AND ANALYSIS
8.3. POWDER
8.3.1. Overview
8.3.2. Powder Market Forecast and Analysis
8.4. FILAMENT
8.4.1. Overview
8.4.2. Filament Market Forecast and Analysis
9. 3D PRINTING METAL MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
9.1. OVERVIEW
9.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
9.3. POWDER BED FUSION
9.3.1. Overview
9.3.2. Powder Bed Fusion Market Forecast and Analysis
9.4. BINDER JETTING
9.4.1. Overview
9.4.2. Binder Jetting Market Forecast and Analysis
9.5. DIRECT ENERGY DEPOSITION
9.5.1. Overview
9.5.2. Direct Energy Deposition Market Forecast and Analysis
9.6. METAL EXTRUSION
9.6.1. Overview
9.6.2. Metal Extrusion Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. 3D PRINTING METAL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America 3D Printing Metal Market Overview
10.1.2 North America 3D Printing Metal Market Forecasts and Analysis
10.1.3 North America 3D Printing Metal Market Forecasts and Analysis - By Metal Type
10.1.4 North America 3D Printing Metal Market Forecasts and Analysis - By Form
10.1.5 North America 3D Printing Metal Market Forecasts and Analysis - By Technology
10.1.6 North America 3D Printing Metal Market Forecasts and Analysis - By Countries
10.1.6.1 United States 3D Printing Metal Market
10.1.6.1.1 United States 3D Printing Metal Market by Metal Type
10.1.6.1.2 United States 3D Printing Metal Market by Form
10.1.6.1.3 United States 3D Printing Metal Market by Technology
10.1.6.2 Canada 3D Printing Metal Market
10.1.6.2.1 Canada 3D Printing Metal Market by Metal Type
10.1.6.2.2 Canada 3D Printing Metal Market by Form
10.1.6.2.3 Canada 3D Printing Metal Market by Technology
10.1.6.3 Mexico 3D Printing Metal Market
10.1.6.3.1 Mexico 3D Printing Metal Market by Metal Type
10.1.6.3.2 Mexico 3D Printing Metal Market by Form
10.1.6.3.3 Mexico 3D Printing Metal Market by Technology
10.2. EUROPE
10.2.1 Europe 3D Printing Metal Market Overview
10.2.2 Europe 3D Printing Metal Market Forecasts and Analysis
10.2.3 Europe 3D Printing Metal Market Forecasts and Analysis - By Metal Type
10.2.4 Europe 3D Printing Metal Market Forecasts and Analysis - By Form
10.2.5 Europe 3D Printing Metal Market Forecasts and Analysis - By Technology
10.2.6 Europe 3D Printing Metal Market Forecasts and Analysis - By Countries
10.2.6.1 Germany 3D Printing Metal Market
10.2.6.1.1 Germany 3D Printing Metal Market by Metal Type
10.2.6.1.2 Germany 3D Printing Metal Market by Form
10.2.6.1.3 Germany 3D Printing Metal Market by Technology
10.2.6.2 France 3D Printing Metal Market
10.2.6.2.1 France 3D Printing Metal Market by Metal Type
10.2.6.2.2 France 3D Printing Metal Market by Form
10.2.6.2.3 France 3D Printing Metal Market by Technology
10.2.6.3 Italy 3D Printing Metal Market
10.2.6.3.1 Italy 3D Printing Metal Market by Metal Type
10.2.6.3.2 Italy 3D Printing Metal Market by Form
10.2.6.3.3 Italy 3D Printing Metal Market by Technology
10.2.6.4 United Kingdom 3D Printing Metal Market
10.2.6.4.1 United Kingdom 3D Printing Metal Market by Metal Type
10.2.6.4.2 United Kingdom 3D Printing Metal Market by Form
10.2.6.4.3 United Kingdom 3D Printing Metal Market by Technology
10.2.6.5 Russia 3D Printing Metal Market
10.2.6.5.1 Russia 3D Printing Metal Market by Metal Type
10.2.6.5.2 Russia 3D Printing Metal Market by Form
10.2.6.5.3 Russia 3D Printing Metal Market by Technology
10.2.6.6 Rest of Europe 3D Printing Metal Market
10.2.6.6.1 Rest of Europe 3D Printing Metal Market by Metal Type
10.2.6.6.2 Rest of Europe 3D Printing Metal Market by Form
10.2.6.6.3 Rest of Europe 3D Printing Metal Market by Technology
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific 3D Printing Metal Market Overview
10.3.2 Asia-Pacific 3D Printing Metal Market Forecasts and Analysis
10.3.3 Asia-Pacific 3D Printing Metal Market Forecasts and Analysis - By Metal Type
10.3.4 Asia-Pacific 3D Printing Metal Market Forecasts and Analysis - By Form
10.3.5 Asia-Pacific 3D Printing Metal Market Forecasts and Analysis - By Technology
10.3.6 Asia-Pacific 3D Printing Metal Market Forecasts and Analysis - By Countries
10.3.6.1 Australia 3D Printing Metal Market
10.3.6.1.1 Australia 3D Printing Metal Market by Metal Type
10.3.6.1.2 Australia 3D Printing Metal Market by Form
10.3.6.1.3 Australia 3D Printing Metal Market by Technology
10.3.6.2 China 3D Printing Metal Market
10.3.6.2.1 China 3D Printing Metal Market by Metal Type
10.3.6.2.2 China 3D Printing Metal Market by Form
10.3.6.2.3 China 3D Printing Metal Market by Technology
10.3.6.3 India 3D Printing Metal Market
10.3.6.3.1 India 3D Printing Metal Market by Metal Type
10.3.6.3.2 India 3D Printing Metal Market by Form
10.3.6.3.3 India 3D Printing Metal Market by Technology
10.3.6.4 Japan 3D Printing Metal Market
10.3.6.4.1 Japan 3D Printing Metal Market by Metal Type
10.3.6.4.2 Japan 3D Printing Metal Market by Form
10.3.6.4.3 Japan 3D Printing Metal Market by Technology
10.3.6.5 South Korea 3D Printing Metal Market
10.3.6.5.1 South Korea 3D Printing Metal Market by Metal Type
10.3.6.5.2 South Korea 3D Printing Metal Market by Form
10.3.6.5.3 South Korea 3D Printing Metal Market by Technology
10.3.6.6 Rest of Asia-Pacific 3D Printing Metal Market
10.3.6.6.1 Rest of Asia-Pacific 3D Printing Metal Market by Metal Type
10.3.6.6.2 Rest of Asia-Pacific 3D Printing Metal Market by Form
10.3.6.6.3 Rest of Asia-Pacific 3D Printing Metal Market by Technology
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa 3D Printing Metal Market Overview
10.4.2 Middle East and Africa 3D Printing Metal Market Forecasts and Analysis
10.4.3 Middle East and Africa 3D Printing Metal Market Forecasts and Analysis - By Metal Type
10.4.4 Middle East and Africa 3D Printing Metal Market Forecasts and Analysis - By Form
10.4.5 Middle East and Africa 3D Printing Metal Market Forecasts and Analysis - By Technology
10.4.6 Middle East and Africa 3D Printing Metal Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa 3D Printing Metal Market
10.4.6.1.1 South Africa 3D Printing Metal Market by Metal Type
10.4.6.1.2 South Africa 3D Printing Metal Market by Form
10.4.6.1.3 South Africa 3D Printing Metal Market by Technology
10.4.6.2 Saudi Arabia 3D Printing Metal Market
10.4.6.2.1 Saudi Arabia 3D Printing Metal Market by Metal Type
10.4.6.2.2 Saudi Arabia 3D Printing Metal Market by Form
10.4.6.2.3 Saudi Arabia 3D Printing Metal Market by Technology
10.4.6.3 U.A.E 3D Printing Metal Market
10.4.6.3.1 U.A.E 3D Printing Metal Market by Metal Type
10.4.6.3.2 U.A.E 3D Printing Metal Market by Form
10.4.6.3.3 U.A.E 3D Printing Metal Market by Technology
10.4.6.4 Rest of Middle East and Africa 3D Printing Metal Market
10.4.6.4.1 Rest of Middle East and Africa 3D Printing Metal Market by Metal Type
10.4.6.4.2 Rest of Middle East and Africa 3D Printing Metal Market by Form
10.4.6.4.3 Rest of Middle East and Africa 3D Printing Metal Market by Technology
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America 3D Printing Metal Market Overview
10.5.2 South and Central America 3D Printing Metal Market Forecasts and Analysis
10.5.3 South and Central America 3D Printing Metal Market Forecasts and Analysis - By Metal Type
10.5.4 South and Central America 3D Printing Metal Market Forecasts and Analysis - By Form
10.5.5 South and Central America 3D Printing Metal Market Forecasts and Analysis - By Technology
10.5.6 South and Central America 3D Printing Metal Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil 3D Printing Metal Market
10.5.6.1.1 Brazil 3D Printing Metal Market by Metal Type
10.5.6.1.2 Brazil 3D Printing Metal Market by Form
10.5.6.1.3 Brazil 3D Printing Metal Market by Technology
10.5.6.2 Argentina 3D Printing Metal Market
10.5.6.2.1 Argentina 3D Printing Metal Market by Metal Type
10.5.6.2.2 Argentina 3D Printing Metal Market by Form
10.5.6.2.3 Argentina 3D Printing Metal Market by Technology
10.5.6.3 Rest of South and Central America 3D Printing Metal Market
10.5.6.3.1 Rest of South and Central America 3D Printing Metal Market by Metal Type
10.5.6.3.2 Rest of South and Central America 3D Printing Metal Market by Form
10.5.6.3.3 Rest of South and Central America 3D Printing Metal Market by Technology
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. 3D PRINTING METAL MARKET, KEY COMPANY PROFILES
12.1. 3D SYSTEMS CORPORATION
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. ARCAM AB
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. CARPENTER TECHNOLOGY CORPORATION
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. GKN PLC
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. RENISHAW PLC
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. SANDVIK AB
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. HOGANAS AB
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. VOXELJET AG
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. LPW TECHNOLOGY LTD.
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. EOS GMBH ELECTRO OPTICAL SYSTEMS
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
- Stratasys
- CRS Holdings, LLC.
- Materialise
- Sandvik AB
- Höganäs AB
- EOS
- Desktop Metal, Inc.
- SLM Solutions
- Sculpteo
- Markforged
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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