Automated Drug Kiosk Market Forecast (2024-2031), Size
The Automated Drug Kiosk Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Wellness Products, Prescription Medication and Online Management, Over The Counter Medication, and Others); End Use (Hospitals and Clinics, Ambulatory Care, Workplace, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America) is expected to register a CAGR of 13.3% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Product Type (Prescription Drugs, Over-the-Counter Drugs, and Wellness Products), By Type (Products and Services), By End-User (Hospital Pharmacies, Drug Stores & Retail Pharmacies, and Others)
Purpose of the ReportThe report Automated Drug Kiosk Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Wellness Products, Prescription Medication and Online Management, Over The Counter Medication, and Others); End Use (Hospitals and Clinics, Ambulatory Care, Workplace, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America) 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.
Automated Drug Kiosk Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Wellness Products, Prescription Medication and Online Management, Over The Counter Medication, and Others); End Use (Hospitals and Clinics, Ambulatory Care, Workplace, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America) Segmentation
Product Type- Prescription Drugs
- Over-the-Counter Drugs
- Wellness Products
- Products and Services
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Others
Strategic Insights
Automated Drug Kiosk Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Wellness Products, Prescription Medication and Online Management, Over The Counter Medication, and Others); End Use (Hospitals and Clinics, Ambulatory Care, Workplace, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America) Growth Drivers- Increased Demand for Self-Service Solutions: The automated drug kiosk industry is also benefitting from the increasing emphasis on self-catered solutions in the healthcare sector. When managing prescriptions, for instance, patients would rather use automated drug dispensing kiosks that allow them to do away with long lines at the pharmacy outlets. Such kiosks ease the burden of dispensing drugs to patients by offering prescriptions in the most efficient way thus enabling patients to get their medications faster and also minimizing the chances of human error in distribution of drugs.
- Advancements in Technology and Integration: The introduction of technologies such as artificial intelligence (AI) and robotics as well as secure identity management has contributed to the outbreak of the automated drug kiosks. With these enhancements, the equipment that the user interface resolves real time prescription and the security system with bio metric authentication has made them more effective. The careful application of this technology leads to faster, more precise and much safer drug dispensing which facilitates its effective use in more pharmacies and hospitals.
- Increasing Focus on Patient Convenience and Safety: The modern patient-centered approach is actively promoting the installation of automated drug kiosks. These kiosks are healthier and safer patient friendly as they offer the option of prescription retrieval with no face to face contact hence lowering chances of wrong drug dispensing and increasing client satisfaction. In recent years, with the increased need of minimizing human contact in medical settings, automated kiosks have emerged as one of the ways to offer both convenience and safety.
- Integration with Telemedicine and Remote Prescription Services: In the automated drug kiosk market, it is notable that a major trend is inclusion of telemedicine solutions in the kiosks. This is because the number of virtual consults is on the increase, and so there are now kiosks that are supposed to enable the patients to come and collect at their convenience prescribed medicines by a healthcare practitioner at a distant location. This integration maximizes accessibility, allowing patients who may not have the opportunity of walking into a pharmacy for whatever reason, more so in areas where there are no pharmacies, to procure the medicines they need.
- Expansion in Pharmacies and Healthcare Facilities: The effects of the adoption of automated drug dispensing units are not only limited in scope to the pharmacies but also to the hospitals and other healthcare facilities. Such units are being incorporated by pharmacies in order to take away the time patients have to queue for services, increase the running of the operations of the pharmacy and also ensure that the correct drugs are issued to the patients. When healthcare providers are focusing more on automation of their services, the kiosks come in handy as a cheap and fast way of providing the patients with their medication, which also promotes the efficiency of the pharmacy services.
- Enhanced Personalization and User Experience: Quite recently, there has been a tendency to focus on user experience and customization in the designs of automated drug dispensing machines. Advanced solutions are being implemented in kiosks by incorporating AI and machine learning factor so as to recommend, remind and alert patients appropriately. These facilities support the tracking of prescription refills, medications at coordinated times and the choice of the languages, providing for interactivity and customisation that is necessary given the varied demographic makeup of patients, especially in diverse environments.
- Expansion into Remote and Rural Areas: Expanding the automated drug kiosk market presents an opportunity especially in regions where there are few or no pharmacies, and much of the population lives in remote and rural areas. Automated kiosks can help fill in the gaps by making available drugs in regions that are otherwise cut off from them, lessening the psychosocial barrier of traveling long distances to fill prescriptions and increasing healthcare provision to populations sitting in remote or rural areas.
- Partnerships with Health Insurance Providers: Automated drug kiosks offer room for collaboration opportunities with health insurance providers. The presence of kiosks within healthcare centers and pharmacies can help insurance providers resolve the issues of medications distribution for patients who need to be given drugs within specific durations. Similarly, terminals are likely to standardize the cycle of claim reimbursement for these devices, help improve patient compliance with the prescribed therapy, and finally, reduce the costs of healthcare services by making sure that medicine is available and accessible whenever and wherever it is needed.
- Integration with E: Commerce and Online Pharmacies: The trend of online trading and the emergence of internet enabled pharmacies are providing yet another attractive but untapped market opportunity for automated drug dispensing units. These may include websites that allow patients to book for medication that can be collected from electronically linked kiosks. The two components: the cutting edge technology and the conventional bricks: and: mortal structure: working together optimizes the benefits of the dispensing process in one’s comfort zone and at one’s own time minimizing any physical contact, which is very much preferable to people of the modern generation.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Automated Drug Kiosk Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Wellness Products, Prescription Medication and Online Management, Over The Counter Medication, and Others); End Use (Hospitals and Clinics, Ambulatory Care, Workplace, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America), 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 Automated Drug Kiosk Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Wellness Products, Prescription Medication and Online Management, Over The Counter Medication, and Others); End Use (Hospitals and Clinics, Ambulatory Care, Workplace, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America) 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
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The automated drug kiosk market is estimated to grow with a CAGR of 13.3% from 2023 to 2031.
Asia Pacific region is likely to witness fastest growth rate during the forecast period.
The automated drug kiosk market majorly consists of the players such as Omnicell, Capsa Healthcar, MedAvail Technologies, Inc. among others.
Integration with telemedicine and remote prescription services are likely to remain the key trend during the forecast period
The market drivers include increased demand for self-service solutions and advancements in technology and integration are driving the automated drug kiosk market
North America dominated the automated drug kiosk market in 2023
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Automated Drug Kiosk Market - By Type
1.3.2 Automated Drug Kiosk Market - By End Use
1.3.3 Automated Drug Kiosk Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMATED DRUG KIOSK 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. AUTOMATED DRUG KIOSK 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. AUTOMATED DRUG KIOSK MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMATED DRUG KIOSK - GLOBAL MARKET OVERVIEW
6.2. AUTOMATED DRUG KIOSK - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. AUTOMATED DRUG KIOSK MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. WELLNESS PRODUCTS
7.3.1. Overview
7.3.2. Wellness Products Market Forecast and Analysis
7.4. PRESCRIPTION MEDICATION AND ONLINE MANAGEMENT
7.4.1. Overview
7.4.2. Prescription Medication and Online Management Market Forecast and Analysis
7.5. OVER THE COUNTER MEDICATION
7.5.1. Overview
7.5.2. Over The Counter Medication Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. AUTOMATED DRUG KIOSK MARKET - REVENUE AND FORECASTS TO 2028 - END USE
8.1. OVERVIEW
8.2. END USE MARKET FORECASTS AND ANALYSIS
8.3. HOSPITALS AND CLINICS
8.3.1. Overview
8.3.2. Hospitals and Clinics Market Forecast and Analysis
8.4. AMBULATORY CARE
8.4.1. Overview
8.4.2. Ambulatory Care Market Forecast and Analysis
8.5. WORKPLACE
8.5.1. Overview
8.5.2. Workplace Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. AUTOMATED DRUG KIOSK MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Automated Drug Kiosk Market Overview
9.1.2 North America Automated Drug Kiosk Market Forecasts and Analysis
9.1.3 North America Automated Drug Kiosk Market Forecasts and Analysis - By Type
9.1.4 North America Automated Drug Kiosk Market Forecasts and Analysis - By End Use
9.1.5 North America Automated Drug Kiosk Market Forecasts and Analysis - By Countries
9.1.5.1 United States Automated Drug Kiosk Market
9.1.5.1.1 United States Automated Drug Kiosk Market by Type
9.1.5.1.2 United States Automated Drug Kiosk Market by End Use
9.1.5.2 Canada Automated Drug Kiosk Market
9.1.5.2.1 Canada Automated Drug Kiosk Market by Type
9.1.5.2.2 Canada Automated Drug Kiosk Market by End Use
9.1.5.3 Mexico Automated Drug Kiosk Market
9.1.5.3.1 Mexico Automated Drug Kiosk Market by Type
9.1.5.3.2 Mexico Automated Drug Kiosk Market by End Use
9.2. EUROPE
9.2.1 Europe Automated Drug Kiosk Market Overview
9.2.2 Europe Automated Drug Kiosk Market Forecasts and Analysis
9.2.3 Europe Automated Drug Kiosk Market Forecasts and Analysis - By Type
9.2.4 Europe Automated Drug Kiosk Market Forecasts and Analysis - By End Use
9.2.5 Europe Automated Drug Kiosk Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Automated Drug Kiosk Market
9.2.5.1.1 Germany Automated Drug Kiosk Market by Type
9.2.5.1.2 Germany Automated Drug Kiosk Market by End Use
9.2.5.2 France Automated Drug Kiosk Market
9.2.5.2.1 France Automated Drug Kiosk Market by Type
9.2.5.2.2 France Automated Drug Kiosk Market by End Use
9.2.5.3 Italy Automated Drug Kiosk Market
9.2.5.3.1 Italy Automated Drug Kiosk Market by Type
9.2.5.3.2 Italy Automated Drug Kiosk Market by End Use
9.2.5.4 Spain Automated Drug Kiosk Market
9.2.5.4.1 Spain Automated Drug Kiosk Market by Type
9.2.5.4.2 Spain Automated Drug Kiosk Market by End Use
9.2.5.5 United Kingdom Automated Drug Kiosk Market
9.2.5.5.1 United Kingdom Automated Drug Kiosk Market by Type
9.2.5.5.2 United Kingdom Automated Drug Kiosk Market by End Use
9.2.5.6 Rest of Europe Automated Drug Kiosk Market
9.2.5.6.1 Rest of Europe Automated Drug Kiosk Market by Type
9.2.5.6.2 Rest of Europe Automated Drug Kiosk Market by End Use
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Automated Drug Kiosk Market Overview
9.3.2 Asia-Pacific Automated Drug Kiosk Market Forecasts and Analysis
9.3.3 Asia-Pacific Automated Drug Kiosk Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Automated Drug Kiosk Market Forecasts and Analysis - By End Use
9.3.5 Asia-Pacific Automated Drug Kiosk Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Automated Drug Kiosk Market
9.3.5.1.1 Australia Automated Drug Kiosk Market by Type
9.3.5.1.2 Australia Automated Drug Kiosk Market by End Use
9.3.5.2 China Automated Drug Kiosk Market
9.3.5.2.1 China Automated Drug Kiosk Market by Type
9.3.5.2.2 China Automated Drug Kiosk Market by End Use
9.3.5.3 India Automated Drug Kiosk Market
9.3.5.3.1 India Automated Drug Kiosk Market by Type
9.3.5.3.2 India Automated Drug Kiosk Market by End Use
9.3.5.4 Japan Automated Drug Kiosk Market
9.3.5.4.1 Japan Automated Drug Kiosk Market by Type
9.3.5.4.2 Japan Automated Drug Kiosk Market by End Use
9.3.5.5 South Korea Automated Drug Kiosk Market
9.3.5.5.1 South Korea Automated Drug Kiosk Market by Type
9.3.5.5.2 South Korea Automated Drug Kiosk Market by End Use
9.3.5.6 Rest of Asia-Pacific Automated Drug Kiosk Market
9.3.5.6.1 Rest of Asia-Pacific Automated Drug Kiosk Market by Type
9.3.5.6.2 Rest of Asia-Pacific Automated Drug Kiosk Market by End Use
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Automated Drug Kiosk Market Overview
9.4.2 Middle East and Africa Automated Drug Kiosk Market Forecasts and Analysis
9.4.3 Middle East and Africa Automated Drug Kiosk Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Automated Drug Kiosk Market Forecasts and Analysis - By End Use
9.4.5 Middle East and Africa Automated Drug Kiosk Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Automated Drug Kiosk Market
9.4.5.1.1 South Africa Automated Drug Kiosk Market by Type
9.4.5.1.2 South Africa Automated Drug Kiosk Market by End Use
9.4.5.2 Saudi Arabia Automated Drug Kiosk Market
9.4.5.2.1 Saudi Arabia Automated Drug Kiosk Market by Type
9.4.5.2.2 Saudi Arabia Automated Drug Kiosk Market by End Use
9.4.5.3 U.A.E Automated Drug Kiosk Market
9.4.5.3.1 U.A.E Automated Drug Kiosk Market by Type
9.4.5.3.2 U.A.E Automated Drug Kiosk Market by End Use
9.4.5.4 Rest of Middle East and Africa Automated Drug Kiosk Market
9.4.5.4.1 Rest of Middle East and Africa Automated Drug Kiosk Market by Type
9.4.5.4.2 Rest of Middle East and Africa Automated Drug Kiosk Market by End Use
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Automated Drug Kiosk Market Overview
9.5.2 South and Central America Automated Drug Kiosk Market Forecasts and Analysis
9.5.3 South and Central America Automated Drug Kiosk Market Forecasts and Analysis - By Type
9.5.4 South and Central America Automated Drug Kiosk Market Forecasts and Analysis - By End Use
9.5.5 South and Central America Automated Drug Kiosk Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Automated Drug Kiosk Market
9.5.5.1.1 Brazil Automated Drug Kiosk Market by Type
9.5.5.1.2 Brazil Automated Drug Kiosk Market by End Use
9.5.5.2 Argentina Automated Drug Kiosk Market
9.5.5.2.1 Argentina Automated Drug Kiosk Market by Type
9.5.5.2.2 Argentina Automated Drug Kiosk Market by End Use
9.5.5.3 Rest of South and Central America Automated Drug Kiosk Market
9.5.5.3.1 Rest of South and Central America Automated Drug Kiosk Market by Type
9.5.5.3.2 Rest of South and Central America Automated Drug Kiosk Market by End Use
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL AUTOMATED DRUG KIOSK MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Middle East and Africa
10.5 South and Central America
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. AUTOMATED DRUG KIOSK MARKET, KEY COMPANY PROFILES
12.1. SMART RX SYSTEMS
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. MC HEALTHGRID PVT LTD.
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. ASTERES 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. DISTRIBUTED DELIVERY NETWORKS CORP
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. TES AMERICA LLC
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. AMERISOURCE BERGEN CORPORATION
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. ACCU CHART PLUS HEALTHCARE SYSTEMS, INC
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. OMNICELL, INC
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. MCKESSON CORPORATION
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. PEARSON MEDICAL TECHNOLOGIES, LLC
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. Smart RX Systems
2. MC HealthGrid Pvt Ltd.
3. Asteres Inc.
4. Distributed Delivery Networks Corp
5. TES America LLC
6. Amerisource Bergen Corporation
7. Accu Chart Plus Healthcare Systems, Inc.
8. Omnicell, Inc.
9. McKesson Corporation
10. Pearson Medical Technologies, LLC
11. Baxter
12. Talyst, LLC
13. ScriptPro, LLC
14. CareFusion (Becton Dickinson And Company)
15. Medacist Solutions Group, LLC
16. Kirby Lester
17. Cerner Corporation
18. ARxIUM
19. TouchPoint Medical
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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