Automated Hospital Beds Market Forecast and Scope - 2031
The Automated Hospital Beds Market is expected to register a CAGR of 5.8% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Type (Semi-Automatic, Fully Automatic, General beds, Pediatric beds, Pressure relief beds, Bariatric beds, Birthing beds). The report is segmented by Technology (Basic, Smart). The report is segmented by Usage (General purpose, Intensive care, Delivery/birthing, Pediatric, Bariatric, Pressure relief, Psychiatric care, Others). The report is segmented by End User (Hospitals and Clinics, Reproductive care centers, Dentistry, Home users, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Automated Hospital Beds 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.
Automated Hospital Beds Market Segmentation
Type- Semi-Automatic
- Fully Automatic
- General beds
- Pediatric beds
- Pressure relief beds
- Bariatric beds
- Birthing beds
- Basic
- Smart
- General purpose
- Intensive care
- Delivery/birthing
- Pediatric
- Bariatric
- Pressure relief
- Psychiatric care
- Others
- Hospitals and Clinics
- Reproductive care centers
- Dentistry
- Home users
- Others
Strategic Insights
Automated Hospital Beds Market Growth Drivers- Technological Advancements: The healthcare technology revolution has given the high-tech automated beds in hospitals. Such high tech beds can provide advanced features like intelligent sensors, integrated monitoring systems, and adjustment of position that also provide greater comfort and safety for the patients. Some upcoming innovations that will soon become standard features include remote control functions and integration with electronic health record (EHR) systems for better handling of patients and reduction in staff burden.
- Increasing Demand for Patient-Centric Care: Due to the trend of healthcare toward more patient centered models, there is a huge demand for products that improve the patient experience. Automated hospital beds allow for the adjustment of various settings which hospitals can set uniquely based on individual patient requirements. It may assist in achieving better outcomes concerning recovery when these patients are in bed. Even adjusting the bed position for comfort, therapy, or mobility aids might have an effect on the satisfaction of the patient and the quality of care rendered.
- Aging Population and Chronic Illnesses: Over the years, the number of elderly patients has increased worldwide, and also the chronic conditions, elevating the demand for sophisticated healthcare solutions. Seniors usually stay longer in the hospital; therefore, comfort and access to care are preconditions to simplify long-term care management and improve patient well-being. Automated beds have pressure relief and easy mobility to manage patient comfort.
- Shift Towards Home Healthcare: The trend of home care is making such automation significantly influence the global market for automated hospital beds. Home-based care is preferred by people today due to comfort and cost effectiveness, so manufacturers are making their beds more adaptable by quickly changing from a hospital to a home bed. Even discharged patients need a hassle-free movement and usage, so this induces even more innovations in space.
- Focus on Ergonomics and Patient Safety: Bed designing ensures a strong emphasis on ergonomics that delivers comfort as well as minimizes injury risks from either the patient or the caregiver. It features include anti-entrapment mechanisms, as well as easy-clean surfaces. Many hospitals are increasing demands on beds that answer stricter regulation requirements and the best practices for hospital safety.
- Sustainability in Manufacturing: The environment has provoked sustainability in the production of healthcare equipment. Companies are now looking into greener materials and practices in the manufacturing of automated hospital beds. This appeals to the conscious environment consumer while remaining inline with other global initiatives concerning reduction of carbon footprint in healthcare facilities.
- Expansion in Developing Markets: A huge prospect for the automated hospital beds market comes through improved healthcare infrastructure in developing regions. The investment in health care facilities are increasing, and modern health solutions are more and more necessary for governments. For manufacturers, this comes as the opportunity to offer an affordable bed without compromising the features to meet emergent markets.
- Integration with Telemedicine: Because of the increasingly widespread use of telemedicine, the automated hospital bed could then be connected to enable it to talk to others from a distance. Real-time transfer of patient data from IoT-enabled beds to healthcare providers improves patient outcomes and operational efficiency. Where connectivity can be very much in line with the increase in remote patient management, most especially in chronic cases.
- Customization and Smart Features: Customizable healthcare solutions would be sought primarily by patients, and the companies can and should embrace this demand by introducing more advanced beds, like those that might be customized in terms of firmness adjustment or entertainment systems or even smart health tracking. A broader market will then open up with such a range of models for pediatric as well as geriatric care requirements.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Automated Hospital Beds 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 Automated Hospital Beds 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.
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- 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
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to country scope.
Frequently Asked Questions
The Automated Hospital Beds Market is estimated to witness a CAGR of 5.8% from 2023 to 2031
The major factors driving the Automated Hospital Beds market are:
1. Technological Advancements
2.Increasing Demand for Patient-Centric Care
Expansion in Developing Markets act as a opportunity for growth of the market in forecast period.
North America region dominated the Automated Hospital Beds market in 2023.
Players operating in the market are Arjo, Gendron Inc,. Hill-Rom Services Inc., Invacare Corporation, Linetspol. sr.o., Medline Industries Inc., Paramount Bed Holdings Co. Ltd., Stryker
Smart segment, by technology, dominated the 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 Hospital Beds Market - By Type
1.3.2 Automated Hospital Beds Market - By Technology
1.3.3 Automated Hospital Beds Market - By Usage
1.3.4 Automated Hospital Beds Market - By End User
1.3.5 Automated Hospital Beds Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMATED HOSPITAL BEDS 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 HOSPITAL BEDS 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. AUTOMATED HOSPITAL BEDS MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMATED HOSPITAL BEDS - GLOBAL MARKET OVERVIEW
6.2. AUTOMATED HOSPITAL BEDS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTOMATED HOSPITAL BEDS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. SEMI-AUTOMATIC
7.3.1. Overview
7.3.2. Semi-Automatic Market Forecast and Analysis
7.4. FULLY AUTOMATIC
7.4.1. Overview
7.4.2. Fully Automatic Market Forecast and Analysis
7.5. GENERAL BEDS
7.5.1. Overview
7.5.2. General beds Market Forecast and Analysis
7.6. PEDIATRIC BEDS
7.6.1. Overview
7.6.2. Pediatric beds Market Forecast and Analysis
7.7. PRESSURE RELIEF BEDS
7.7.1. Overview
7.7.2. Pressure relief beds Market Forecast and Analysis
7.8. BARIATRIC BEDS
7.8.1. Overview
7.8.2. Bariatric beds Market Forecast and Analysis
7.9. BIRTHING BEDS
7.9.1. Overview
7.9.2. Birthing beds Market Forecast and Analysis
8. AUTOMATED HOSPITAL BEDS MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. BASIC
8.3.1. Overview
8.3.2. Basic Market Forecast and Analysis
8.4. SMART
8.4.1. Overview
8.4.2. Smart Market Forecast and Analysis
9. AUTOMATED HOSPITAL BEDS MARKET - REVENUE AND FORECASTS TO 2028 - USAGE
9.1. OVERVIEW
9.2. USAGE MARKET FORECASTS AND ANALYSIS
9.3. GENERAL PURPOSE
9.3.1. Overview
9.3.2. General purpose Market Forecast and Analysis
9.4. INTENSIVE CARE
9.4.1. Overview
9.4.2. Intensive care Market Forecast and Analysis
9.5. DELIVERY/BIRTHING
9.5.1. Overview
9.5.2. Delivery/birthing Market Forecast and Analysis
9.6. PEDIATRIC
9.6.1. Overview
9.6.2. Pediatric Market Forecast and Analysis
9.7. BARIATRIC
9.7.1. Overview
9.7.2. Bariatric Market Forecast and Analysis
9.8. PRESSURE RELIEF
9.8.1. Overview
9.8.2. Pressure relief Market Forecast and Analysis
9.9. PSYCHIATRIC CARE
9.9.1. Overview
9.9.2. Psychiatric care Market Forecast and Analysis
9.10. OTHERS
9.10.1. Overview
9.10.2. Others Market Forecast and Analysis
10. AUTOMATED HOSPITAL BEDS MARKET - REVENUE AND FORECASTS TO 2028 - END USER
10.1. OVERVIEW
10.2. END USER MARKET FORECASTS AND ANALYSIS
10.3. HOSPITALS AND CLINICS
10.3.1. Overview
10.3.2. Hospitals and Clinics Market Forecast and Analysis
10.4. REPRODUCTIVE CARE CENTERS
10.4.1. Overview
10.4.2. Reproductive care centers Market Forecast and Analysis
10.5. DENTISTRY
10.5.1. Overview
10.5.2. Dentistry Market Forecast and Analysis
10.6. HOME USERS
10.6.1. Overview
10.6.2. Home users Market Forecast and Analysis
10.7. OTHERS
10.7.1. Overview
10.7.2. Others Market Forecast and Analysis
11. AUTOMATED HOSPITAL BEDS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Automated Hospital Beds Market Overview
11.1.2 North America Automated Hospital Beds Market Forecasts and Analysis
11.1.3 North America Automated Hospital Beds Market Forecasts and Analysis - By Type
11.1.4 North America Automated Hospital Beds Market Forecasts and Analysis - By Technology
11.1.5 North America Automated Hospital Beds Market Forecasts and Analysis - By Usage
11.1.6 North America Automated Hospital Beds Market Forecasts and Analysis - By End User
11.1.7 North America Automated Hospital Beds Market Forecasts and Analysis - By Countries
11.1.7.1 United States Automated Hospital Beds Market
11.1.7.1.1 United States Automated Hospital Beds Market by Type
11.1.7.1.2 United States Automated Hospital Beds Market by Technology
11.1.7.1.3 United States Automated Hospital Beds Market by Usage
11.1.7.1.4 United States Automated Hospital Beds Market by End User
11.1.7.2 Canada Automated Hospital Beds Market
11.1.7.2.1 Canada Automated Hospital Beds Market by Type
11.1.7.2.2 Canada Automated Hospital Beds Market by Technology
11.1.7.2.3 Canada Automated Hospital Beds Market by Usage
11.1.7.2.4 Canada Automated Hospital Beds Market by End User
11.1.7.3 Mexico Automated Hospital Beds Market
11.1.7.3.1 Mexico Automated Hospital Beds Market by Type
11.1.7.3.2 Mexico Automated Hospital Beds Market by Technology
11.1.7.3.3 Mexico Automated Hospital Beds Market by Usage
11.1.7.3.4 Mexico Automated Hospital Beds Market by End User
11.2. EUROPE
11.2.1 Europe Automated Hospital Beds Market Overview
11.2.2 Europe Automated Hospital Beds Market Forecasts and Analysis
11.2.3 Europe Automated Hospital Beds Market Forecasts and Analysis - By Type
11.2.4 Europe Automated Hospital Beds Market Forecasts and Analysis - By Technology
11.2.5 Europe Automated Hospital Beds Market Forecasts and Analysis - By Usage
11.2.6 Europe Automated Hospital Beds Market Forecasts and Analysis - By End User
11.2.7 Europe Automated Hospital Beds Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Automated Hospital Beds Market
11.2.7.1.1 Germany Automated Hospital Beds Market by Type
11.2.7.1.2 Germany Automated Hospital Beds Market by Technology
11.2.7.1.3 Germany Automated Hospital Beds Market by Usage
11.2.7.1.4 Germany Automated Hospital Beds Market by End User
11.2.7.2 France Automated Hospital Beds Market
11.2.7.2.1 France Automated Hospital Beds Market by Type
11.2.7.2.2 France Automated Hospital Beds Market by Technology
11.2.7.2.3 France Automated Hospital Beds Market by Usage
11.2.7.2.4 France Automated Hospital Beds Market by End User
11.2.7.3 Italy Automated Hospital Beds Market
11.2.7.3.1 Italy Automated Hospital Beds Market by Type
11.2.7.3.2 Italy Automated Hospital Beds Market by Technology
11.2.7.3.3 Italy Automated Hospital Beds Market by Usage
11.2.7.3.4 Italy Automated Hospital Beds Market by End User
11.2.7.4 Spain Automated Hospital Beds Market
11.2.7.4.1 Spain Automated Hospital Beds Market by Type
11.2.7.4.2 Spain Automated Hospital Beds Market by Technology
11.2.7.4.3 Spain Automated Hospital Beds Market by Usage
11.2.7.4.4 Spain Automated Hospital Beds Market by End User
11.2.7.5 United Kingdom Automated Hospital Beds Market
11.2.7.5.1 United Kingdom Automated Hospital Beds Market by Type
11.2.7.5.2 United Kingdom Automated Hospital Beds Market by Technology
11.2.7.5.3 United Kingdom Automated Hospital Beds Market by Usage
11.2.7.5.4 United Kingdom Automated Hospital Beds Market by End User
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Automated Hospital Beds Market Overview
11.3.2 Asia-Pacific Automated Hospital Beds Market Forecasts and Analysis
11.3.3 Asia-Pacific Automated Hospital Beds Market Forecasts and Analysis - By Type
11.3.4 Asia-Pacific Automated Hospital Beds Market Forecasts and Analysis - By Technology
11.3.5 Asia-Pacific Automated Hospital Beds Market Forecasts and Analysis - By Usage
11.3.6 Asia-Pacific Automated Hospital Beds Market Forecasts and Analysis - By End User
11.3.7 Asia-Pacific Automated Hospital Beds Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Automated Hospital Beds Market
11.3.7.1.1 Australia Automated Hospital Beds Market by Type
11.3.7.1.2 Australia Automated Hospital Beds Market by Technology
11.3.7.1.3 Australia Automated Hospital Beds Market by Usage
11.3.7.1.4 Australia Automated Hospital Beds Market by End User
11.3.7.2 China Automated Hospital Beds Market
11.3.7.2.1 China Automated Hospital Beds Market by Type
11.3.7.2.2 China Automated Hospital Beds Market by Technology
11.3.7.2.3 China Automated Hospital Beds Market by Usage
11.3.7.2.4 China Automated Hospital Beds Market by End User
11.3.7.3 India Automated Hospital Beds Market
11.3.7.3.1 India Automated Hospital Beds Market by Type
11.3.7.3.2 India Automated Hospital Beds Market by Technology
11.3.7.3.3 India Automated Hospital Beds Market by Usage
11.3.7.3.4 India Automated Hospital Beds Market by End User
11.3.7.4 Japan Automated Hospital Beds Market
11.3.7.4.1 Japan Automated Hospital Beds Market by Type
11.3.7.4.2 Japan Automated Hospital Beds Market by Technology
11.3.7.4.3 Japan Automated Hospital Beds Market by Usage
11.3.7.4.4 Japan Automated Hospital Beds Market by End User
11.3.7.5 South Korea Automated Hospital Beds Market
11.3.7.5.1 South Korea Automated Hospital Beds Market by Type
11.3.7.5.2 South Korea Automated Hospital Beds Market by Technology
11.3.7.5.3 South Korea Automated Hospital Beds Market by Usage
11.3.7.5.4 South Korea Automated Hospital Beds Market by End User
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Automated Hospital Beds Market Overview
11.4.2 Middle East and Africa Automated Hospital Beds Market Forecasts and Analysis
11.4.3 Middle East and Africa Automated Hospital Beds Market Forecasts and Analysis - By Type
11.4.4 Middle East and Africa Automated Hospital Beds Market Forecasts and Analysis - By Technology
11.4.5 Middle East and Africa Automated Hospital Beds Market Forecasts and Analysis - By Usage
11.4.6 Middle East and Africa Automated Hospital Beds Market Forecasts and Analysis - By End User
11.4.7 Middle East and Africa Automated Hospital Beds Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Automated Hospital Beds Market
11.4.7.1.1 South Africa Automated Hospital Beds Market by Type
11.4.7.1.2 South Africa Automated Hospital Beds Market by Technology
11.4.7.1.3 South Africa Automated Hospital Beds Market by Usage
11.4.7.1.4 South Africa Automated Hospital Beds Market by End User
11.4.7.2 Saudi Arabia Automated Hospital Beds Market
11.4.7.2.1 Saudi Arabia Automated Hospital Beds Market by Type
11.4.7.2.2 Saudi Arabia Automated Hospital Beds Market by Technology
11.4.7.2.3 Saudi Arabia Automated Hospital Beds Market by Usage
11.4.7.2.4 Saudi Arabia Automated Hospital Beds Market by End User
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Automated Hospital Beds Market Overview
11.5.2 South and Central America Automated Hospital Beds Market Forecasts and Analysis
11.5.3 South and Central America Automated Hospital Beds Market Forecasts and Analysis - By Type
11.5.4 South and Central America Automated Hospital Beds Market Forecasts and Analysis - By Technology
11.5.5 South and Central America Automated Hospital Beds Market Forecasts and Analysis - By Usage
11.5.6 South and Central America Automated Hospital Beds Market Forecasts and Analysis - By End User
11.5.7 South and Central America Automated Hospital Beds Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Automated Hospital Beds Market
11.5.7.1.1 Brazil Automated Hospital Beds Market by Type
11.5.7.1.2 Brazil Automated Hospital Beds Market by Technology
11.5.7.1.3 Brazil Automated Hospital Beds Market by Usage
11.5.7.1.4 Brazil Automated Hospital Beds Market by End User
11.5.7.2 Argentina Automated Hospital Beds Market
11.5.7.2.1 Argentina Automated Hospital Beds Market by Type
11.5.7.2.2 Argentina Automated Hospital Beds Market by Technology
11.5.7.2.3 Argentina Automated Hospital Beds Market by Usage
11.5.7.2.4 Argentina Automated Hospital Beds Market by End User
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. AUTOMATED HOSPITAL BEDS MARKET, KEY COMPANY PROFILES
13.1. ARJO
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. GENDRON INC.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. HILL-ROM SERVICES INC.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. INVACARE CORPORATION
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. LINETSPOL. SR.O.
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. MEDLINE INDUSTRIES, INC.
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. MEDLINE INDUSTRIES, INC.
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. PARAMOUNT BED HOLDINGS CO. LTD.
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. STRYKER
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Arjo
2. Gendron Inc.
3. Hill-Rom Services Inc.
4. Invacare Corporation
5. Linetspol. sr.o.
6. Medline Industries, Inc.
7. Medline Industries, Inc.
8. Paramount Bed Holdings Co. Ltd.
9. Stryker
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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