Athletic Footwear Market Forecast, Trends, Scope by 2031
The Athletic Footwear Market is expected to register a CAGR of 5.5% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The Athletic Footwear Market report covers analysis By Foot Wear Type (Sneakers, Running Footwear, Hiking Footwear, Basketball Footwear, Football Footwear, Others); End-User (Men, Women, Unisex); Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America). It features a regional overview that highlights significant markets and countries, ensuring a global perspective. Market evaluations are provided in US dollars (US$), enabling a thorough understanding of market dynamics, growth trends, and competitive landscapes across different segments. This insight helps stakeholders recognize opportunities and make informed decisions in the rapidly changing landscape.
Purpose of the ReportThe report Athletic Footwear Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Athletic Footwear Market Segmentation
Foot Wear Type- Sneakers
- Running Footwear
- Hiking Footwear
- Basketball Footwear
- Football Footwear;
- Men
- Women
- Unisex
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Retail
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Athletic Footwear Market Growth Drivers- Health and Fitness Awareness Drives Demand: One of the key reasons for the increasing demand in the athletic footwear market is related to growing consumer health and fitness awareness. Because active lifestyles growing so fast, demand for performance-oriented footwear has vehemently escalated. In the market, the trend of running and training shoes has increased in size. According to Athletic Footwear Market reports, consumer participation in sports and physical fitness, and rising awareness regarding the health benefits of workouts, are driving the Athletic Footwear Market growth, resulting in bigger market shares in different regions of the world.
- Global Sports Participation Boosts Market Share: Global sports participation, from amateur to professional levels, is driving the athletic footwear market. People are more into basketball, soccer, running, and other sporting activities. It is through this observation that market researchers estimate a noticeable increase in Athletic Footwear Market share, as different brands aim at different groups of consumers.
- Innovation in Performance and Comfort Increases Sales: To the buyer, this equates to superior performance, comfort, and longevity components that have fueled demand for innovative products. Trends within the market currently suggest that those companies able to invest in research and development and introduce new technologies are capturing an ever greater percentage of market share.
- Sustainability Trends Favor Eco-Friendly Footwear: As society starts to be sensitive to ecological issues, the brands integrate recycled materials into their products, combining them with eco-friendly production practices. Market dynamics increasingly shift towards sustainability, with key players incorporating green strategies as one way of appealing to customers who are ecologically concerned. Based on the PEST analysis, this trend meets regulatory pressures towards sustainability, and market forecasts predict further growth in lines of eco-friendly products.
- Personalized Footwear Gains Popularity with 3D Printing: The trend for customized and personalized athletic footwear is on the rise. Consumers look for various designs, unique inspirations, and tailored features that reflect personal style and requirements of performance. Key Athletic Footwear Market players have been leveraging innovation in manufacturing techniques like 3D printing to offer product personalization. SWOT analysis shows this as a competitive advantage within the market for those brands offering customization; hence, market strategies are focused on enhancing customer experience and driving brand loyalty.
- Digital Platforms and DTC Strategies Expand Reach: Key players are investing in digital platforms and direct-to-consumer strategies to capture higher market shares. Online sales will increase, and the digital transformation is changing the market perspective for athletic footwear.
- Emerging Markets in Asia-Pacific and Latin America Offer Growth: Emerging markets remain a key growth opportunity for the athletic footwear market, particularly those in the Asia-Pacific and Latin American regions. Judging by the industry landscape, it would appear that high growth potential in emerging markets is all there for brands to capitalize on.
- North America Leads in Fitness Culture and Brand Presence: North America continues to be one of the important regions for athletic footwear market growth due to high participation rates in sports and general enthusiasm for fitness culture. Based on geographical areas, this study suggests that North America houses some of the biggest brands involved in athletic shoes and thus has tremendous scope for market development. From the competitive point of view, it seems that through some effective marketing strategies and diversification of products, brands now vie with each other to have a bigger share of North America's athletic footwear market.
- Smart Features in Footwear Complement Digital Fitness Trends: Digital fitness platforms, inclusive of online workout sites and fitness tracking, have opened a significant growth area for athletic footwear brands requiring footwear complementary to digital fitness ecosystems. In such a context, brands have ample opportunities to incorporate smart features in their products, like activity tracking, which would find favor with the technologically savvy consumer. Thus, competitive analysis reveals that this is one of the primary opportunities within the industry landscape whereby brands make use of technology to attempt to distinguish themselves.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Athletic Footwear Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Athletic Footwear Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
Have a question?
Shejal
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Key companies in this market are: Adidas America Inc, PUMA SE, Nike Inc, ASICS Corporation, SKECHERS, Mizuno USA, Merrell, Vibram Corporation, K Swiss US
Key future trends in this market are - Increase in sports participation, Growth in fashion and lifestyle trends, Rise in demand for sustainable footwear
The Athletic Footwear Market is expected to register a CAGR of 5.5% from 2023-2031.
The major factors impacting the Athletic Footwear Market are: Growing Health and Fitness Awareness, Rising Sports Participation, and Technological Innovations in Footwear
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Athletic Footwear Market - By Foot Wear Type
1.3.2 Athletic Footwear Market - By End-User
1.3.3 Athletic Footwear Market - By Distribution Channel
1.3.4 Athletic Footwear Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ATHLETIC FOOTWEAR 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. ATHLETIC FOOTWEAR 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. ATHLETIC FOOTWEAR MARKET - GLOBAL MARKET ANALYSIS
6.1. ATHLETIC FOOTWEAR - GLOBAL MARKET OVERVIEW
6.2. ATHLETIC FOOTWEAR - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. ATHLETIC FOOTWEAR MARKET - REVENUE AND FORECASTS TO 2028 - FOOT WEAR TYPE
7.1. OVERVIEW
7.2. FOOT WEAR TYPE MARKET FORECASTS AND ANALYSIS
7.3. SNEAKERS
7.3.1. Overview
7.3.2. Sneakers Market Forecast and Analysis
7.4. RUNNING FOOTWEAR
7.4.1. Overview
7.4.2. Running Footwear Market Forecast and Analysis
7.5. HIKING FOOTWEAR
7.5.1. Overview
7.5.2. Hiking Footwear Market Forecast and Analysis
7.6. BASKETBALL FOOTWEAR
7.6.1. Overview
7.6.2. Basketball Footwear Market Forecast and Analysis
7.7. FOOTBALL FOOTWEAR
7.7.1. Overview
7.7.2. Football Footwear Market Forecast and Analysis
7.8. OTHERS
7.8.1. Overview
7.8.2. Others Market Forecast and Analysis
8. ATHLETIC FOOTWEAR MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
8.1. OVERVIEW
8.2. END-USER MARKET FORECASTS AND ANALYSIS
8.3. MEN
8.3.1. Overview
8.3.2. Men Market Forecast and Analysis
8.4. WOMEN
8.4.1. Overview
8.4.2. Women Market Forecast and Analysis
8.5. UNISEX
8.5.1. Overview
8.5.2. Unisex Market Forecast and Analysis
9. ATHLETIC FOOTWEAR MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
9.1. OVERVIEW
9.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
9.3. SUPERMARKETS AND HYPERMARKETS
9.3.1. Overview
9.3.2. Supermarkets and Hypermarkets Market Forecast and Analysis
9.4. SPECIALTY STORES
9.4.1. Overview
9.4.2. Specialty Stores Market Forecast and Analysis
9.5. ONLINE RETAIL
9.5.1. Overview
9.5.2. Online Retail Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. ATHLETIC FOOTWEAR MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Athletic Footwear Market Overview
10.1.2 North America Athletic Footwear Market Forecasts and Analysis
10.1.3 North America Athletic Footwear Market Forecasts and Analysis - By Foot Wear Type
10.1.4 North America Athletic Footwear Market Forecasts and Analysis - By End-User
10.1.5 North America Athletic Footwear Market Forecasts and Analysis - By Distribution Channel
10.1.6 North America Athletic Footwear Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Athletic Footwear Market
10.1.6.1.1 Canada Athletic Footwear Market by Foot Wear Type
10.1.6.1.2 Canada Athletic Footwear Market by End-User
10.1.6.1.3 Canada Athletic Footwear Market by Distribution Channel
10.1.6.2 Mexico Athletic Footwear Market
10.1.6.2.1 Mexico Athletic Footwear Market by Foot Wear Type
10.1.6.2.2 Mexico Athletic Footwear Market by End-User
10.1.6.2.3 Mexico Athletic Footwear Market by Distribution Channel
10.1.6.3 US Athletic Footwear Market
10.1.6.3.1 US Athletic Footwear Market by Foot Wear Type
10.1.6.3.2 US Athletic Footwear Market by End-User
10.1.6.3.3 US Athletic Footwear Market by Distribution Channel
10.2. EUROPE
10.2.1 Europe Athletic Footwear Market Overview
10.2.2 Europe Athletic Footwear Market Forecasts and Analysis
10.2.3 Europe Athletic Footwear Market Forecasts and Analysis - By Foot Wear Type
10.2.4 Europe Athletic Footwear Market Forecasts and Analysis - By End-User
10.2.5 Europe Athletic Footwear Market Forecasts and Analysis - By Distribution Channel
10.2.6 Europe Athletic Footwear Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Athletic Footwear Market
10.2.6.1.1 Germany Athletic Footwear Market by Foot Wear Type
10.2.6.1.2 Germany Athletic Footwear Market by End-User
10.2.6.1.3 Germany Athletic Footwear Market by Distribution Channel
10.2.6.2 France Athletic Footwear Market
10.2.6.2.1 France Athletic Footwear Market by Foot Wear Type
10.2.6.2.2 France Athletic Footwear Market by End-User
10.2.6.2.3 France Athletic Footwear Market by Distribution Channel
10.2.6.3 Italy Athletic Footwear Market
10.2.6.3.1 Italy Athletic Footwear Market by Foot Wear Type
10.2.6.3.2 Italy Athletic Footwear Market by End-User
10.2.6.3.3 Italy Athletic Footwear Market by Distribution Channel
10.2.6.4 United Kingdom Athletic Footwear Market
10.2.6.4.1 United Kingdom Athletic Footwear Market by Foot Wear Type
10.2.6.4.2 United Kingdom Athletic Footwear Market by End-User
10.2.6.4.3 United Kingdom Athletic Footwear Market by Distribution Channel
10.2.6.5 Russia Athletic Footwear Market
10.2.6.5.1 Russia Athletic Footwear Market by Foot Wear Type
10.2.6.5.2 Russia Athletic Footwear Market by End-User
10.2.6.5.3 Russia Athletic Footwear Market by Distribution Channel
10.2.6.6 Rest of Europe Athletic Footwear Market
10.2.6.6.1 Rest of Europe Athletic Footwear Market by Foot Wear Type
10.2.6.6.2 Rest of Europe Athletic Footwear Market by End-User
10.2.6.6.3 Rest of Europe Athletic Footwear Market by Distribution Channel
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Athletic Footwear Market Overview
10.3.2 Asia-Pacific Athletic Footwear Market Forecasts and Analysis
10.3.3 Asia-Pacific Athletic Footwear Market Forecasts and Analysis - By Foot Wear Type
10.3.4 Asia-Pacific Athletic Footwear Market Forecasts and Analysis - By End-User
10.3.5 Asia-Pacific Athletic Footwear Market Forecasts and Analysis - By Distribution Channel
10.3.6 Asia-Pacific Athletic Footwear Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Athletic Footwear Market
10.3.6.1.1 Australia Athletic Footwear Market by Foot Wear Type
10.3.6.1.2 Australia Athletic Footwear Market by End-User
10.3.6.1.3 Australia Athletic Footwear Market by Distribution Channel
10.3.6.2 China Athletic Footwear Market
10.3.6.2.1 China Athletic Footwear Market by Foot Wear Type
10.3.6.2.2 China Athletic Footwear Market by End-User
10.3.6.2.3 China Athletic Footwear Market by Distribution Channel
10.3.6.3 India Athletic Footwear Market
10.3.6.3.1 India Athletic Footwear Market by Foot Wear Type
10.3.6.3.2 India Athletic Footwear Market by End-User
10.3.6.3.3 India Athletic Footwear Market by Distribution Channel
10.3.6.4 Japan Athletic Footwear Market
10.3.6.4.1 Japan Athletic Footwear Market by Foot Wear Type
10.3.6.4.2 Japan Athletic Footwear Market by End-User
10.3.6.4.3 Japan Athletic Footwear Market by Distribution Channel
10.3.6.5 South Korea Athletic Footwear Market
10.3.6.5.1 South Korea Athletic Footwear Market by Foot Wear Type
10.3.6.5.2 South Korea Athletic Footwear Market by End-User
10.3.6.5.3 South Korea Athletic Footwear Market by Distribution Channel
10.3.6.6 Rest of Asia-Pacific Athletic Footwear Market
10.3.6.6.1 Rest of Asia-Pacific Athletic Footwear Market by Foot Wear Type
10.3.6.6.2 Rest of Asia-Pacific Athletic Footwear Market by End-User
10.3.6.6.3 Rest of Asia-Pacific Athletic Footwear Market by Distribution Channel
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Athletic Footwear Market Overview
10.4.2 Middle East and Africa Athletic Footwear Market Forecasts and Analysis
10.4.3 Middle East and Africa Athletic Footwear Market Forecasts and Analysis - By Foot Wear Type
10.4.4 Middle East and Africa Athletic Footwear Market Forecasts and Analysis - By End-User
10.4.5 Middle East and Africa Athletic Footwear Market Forecasts and Analysis - By Distribution Channel
10.4.6 Middle East and Africa Athletic Footwear Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Athletic Footwear Market
10.4.6.1.1 South Africa Athletic Footwear Market by Foot Wear Type
10.4.6.1.2 South Africa Athletic Footwear Market by End-User
10.4.6.1.3 South Africa Athletic Footwear Market by Distribution Channel
10.4.6.2 Saudi Arabia Athletic Footwear Market
10.4.6.2.1 Saudi Arabia Athletic Footwear Market by Foot Wear Type
10.4.6.2.2 Saudi Arabia Athletic Footwear Market by End-User
10.4.6.2.3 Saudi Arabia Athletic Footwear Market by Distribution Channel
10.4.6.3 U.A.E Athletic Footwear Market
10.4.6.3.1 U.A.E Athletic Footwear Market by Foot Wear Type
10.4.6.3.2 U.A.E Athletic Footwear Market by End-User
10.4.6.3.3 U.A.E Athletic Footwear Market by Distribution Channel
10.4.6.4 Rest of Middle East and Africa Athletic Footwear Market
10.4.6.4.1 Rest of Middle East and Africa Athletic Footwear Market by Foot Wear Type
10.4.6.4.2 Rest of Middle East and Africa Athletic Footwear Market by End-User
10.4.6.4.3 Rest of Middle East and Africa Athletic Footwear Market by Distribution Channel
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Athletic Footwear Market Overview
10.5.2 South and Central America Athletic Footwear Market Forecasts and Analysis
10.5.3 South and Central America Athletic Footwear Market Forecasts and Analysis - By Foot Wear Type
10.5.4 South and Central America Athletic Footwear Market Forecasts and Analysis - By End-User
10.5.5 South and Central America Athletic Footwear Market Forecasts and Analysis - By Distribution Channel
10.5.6 South and Central America Athletic Footwear Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Athletic Footwear Market
10.5.6.1.1 Brazil Athletic Footwear Market by Foot Wear Type
10.5.6.1.2 Brazil Athletic Footwear Market by End-User
10.5.6.1.3 Brazil Athletic Footwear Market by Distribution Channel
10.5.6.2 Argentina Athletic Footwear Market
10.5.6.2.1 Argentina Athletic Footwear Market by Foot Wear Type
10.5.6.2.2 Argentina Athletic Footwear Market by End-User
10.5.6.2.3 Argentina Athletic Footwear Market by Distribution Channel
10.5.6.3 Rest of South and Central America Athletic Footwear Market
10.5.6.3.1 Rest of South and Central America Athletic Footwear Market by Foot Wear Type
10.5.6.3.2 Rest of South and Central America Athletic Footwear Market by End-User
10.5.6.3.3 Rest of South and Central America Athletic Footwear Market by Distribution Channel
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. ATHLETIC FOOTWEAR MARKET, KEY COMPANY PROFILES
12.1. ADIDAS AMERICA INC.
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. PUMA SE
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. NIKE, INC.
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. ASICS CORPORATION
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. SKECHERS
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. MIZUNO USA
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. MERRELL
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. VIBRAM CORPORATION
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. K-SWISS US
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. UNDER ARMOUR
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
1.Adidas America Inc.
2.PUMA SE
3.Nike, Inc.
4.ASICS Corporation
5.SKECHERS
6.Mizuno USA
7.Merrell
8.Vibram Corporation
9.K-Swiss US
10.Under Armour
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.
Get Free Sample For