Automated Sample Storage Systems Market - Forecast [2021-2031]
The Automated Sample Storage Systems Market is expected to register a CAGR of 12.6% 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 (System Units, Reagents, Consumables). The report further presents analysis based on Application (Biological Sample Storage, Compound Sample Storage). The report is further segmented based on Capacity (Less Than 100K Samples, 100K - 500K Samples, 500K - 2M Samples, More Than 2M Samples). Futher, it is segmented based on End User (Pharma and Biotech Companies, Academic Research Labs, Private Biobanks). 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 Sample Storage Systems 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 Sample Storage Systems Market Segmentation
Product- System Units
- Reagents
- Consumables
- Biological Sample Storage
- Compound Sample Storage
- Less Than 100K Samples
- 100K - 500K Samples
- 500K - 2M Samples
- More Than 2M Samples
- Pharma and Biotech Companies
- Academic Research Labs
- Private Biobanks
- Pharma and Biotech Companies
- Academic Research Labs
- Private Biobanks
Strategic Insights
Automated Sample Storage Systems Market Growth Drivers- Growing Demand for Biobanking: The very increasing demand for biobanking in research and healthcare sectors is increasing the automated sample storage systems market. Biobanking of large collections of biological samples by institutions has created an opportunity to manage efficiently and reliably with high-quality storage solutions that preserve integrity and accessibility during analysis, and is giving a thrust to medical research and advancement in personalized medicine.
- Stringent Regulatory Compliance: The growth of the pharmaceutical and biotechnology industries can be spurred further by increasing regulatory requirements in sample handling and storage. Additionally, compliance to these regulations requires safe, temperature-controlled, and monitored storage solutions that make organizations invest in the automation of such systems to keep to the standards of industry.
- Cost Efficiency: This is the other factor surging organizations towards cost-efficient solutions that manage sample storage. Automated systems would definitely decrease labor costs and minimize sample loss while optimizing the use of space, so there are long-term cost savings realized. Increasingly, laboratories are embracing automated sample storage technologies on account of this focus on efficiency in costs, and therefore, their growth is paced faster in this market.
- Focus on Sustainability: Sustainability is a focus becoming important in the automated sample storage market. The energy-efficiency-green material-based systems that will be developed will emphasize further the trend to reduce the carbon footprint associated with laboratory operations. It will attract organizations with an ambition to harmonize with other eco-friendly practices and related regulations.
- Modular Solutions Growth: There will be a growing demand for modular automated sample storage due to the requirements of laboratories to have flexible solutions which are scalable. Modular designs would allow universities or any institution to scale up their storage capacity and functionality, and thereby adapt to new needs, rather than going through thorough overhauls that are appealing in all types of research environments.
- Artificial Intelligence Integration: Artificial intelligence is fast emerging as the trend of integrated AI in automated sample storage systems that will contribute towards efficiency and accuracy in the future. Artificial intelligence can define sample tracking, auto inventory management, and maintain prediction needs in terms of preventive maintenance. Thus, it is in pursuit of making storage solutions intelligent and responsive to a laboratory's demands.
- Biopharmaceutical Research: Increase investment in biopharmaceutical research affords significant opportunity for automated sample storage systems since the associated facilities need efficient secure storage solutions for these large numbers of biological samples at different development phases.
- Technological partnerships: As of today, there are opportunities for the providers of automated storage solutions to come into partnership with technology companies. There is a scope for innovation in the form of the development of new products that have more advanced functions, integrating robotics, artificial intelligence, and IoT capabilities and hence made easier to handle and use.
- Cloud-Based Solutions-Increased Adoption: As cloud-based data management solutions is picking up, automated sample storage systems will also find opportunities where it could be adopted, thereby making it easier and more responsive in that it enables real-time monitoring and higher accessibility of sample information across different platforms.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Automated Sample Storage Systems 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 Sample Storage Systems 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
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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
Hamilton Company, Thermo Fisher Scientific, Inc., and PHC Holdings Corporation are some of the major players operating in the market.
Asia Pacific region has the highest CAGR in the market.
The compound sample storage segment accounts for the highest revenue in application segment of the market in 2023.
North America region dominated the automated sample storage systems market in 2023.
The major factors driving the automated sample storage systems market are:
1.Growing Demand for Biobanking.
2. Cost-Effectiveness.
The Automated Sample Storage Systems Market is estimated to witness a CAGR of 12.6% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Automated Sample Storage Systems Market - By Product
1.3.2 Automated Sample Storage Systems Market - By Application
1.3.3 Automated Sample Storage Systems Market - By Capacity
1.3.4 Automated Sample Storage Systems Market - By End User
1.3.5 Automated Sample Storage Systems Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMATED SAMPLE STORAGE SYSTEMS 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 SAMPLE STORAGE SYSTEMS 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 SAMPLE STORAGE SYSTEMS MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMATED SAMPLE STORAGE SYSTEMS - GLOBAL MARKET OVERVIEW
6.2. AUTOMATED SAMPLE STORAGE SYSTEMS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTOMATED SAMPLE STORAGE SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. SYSTEM UNITS
7.3.1. Overview
7.3.2. System Units Market Forecast and Analysis
7.4. REAGENTS
7.4.1. Overview
7.4.2. Reagents Market Forecast and Analysis
7.5. CONSUMABLES
7.5.1. Overview
7.5.2. Consumables Market Forecast and Analysis
8. AUTOMATED SAMPLE STORAGE SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. BIOLOGICAL SAMPLE STORAGE
8.3.1. Overview
8.3.2. Biological Sample Storage Market Forecast and Analysis
8.4. COMPOUND STORAGE
8.4.1. Overview
8.4.2. Compound Storage Market Forecast and Analysis
9. AUTOMATED SAMPLE STORAGE SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - CAPACITY
9.1. OVERVIEW
9.2. CAPACITY MARKET FORECASTS AND ANALYSIS
9.3. LESS THAN 100K SAMPLES
9.3.1. Overview
9.3.2. Less Than 100K Samples Market Forecast and Analysis
9.4. 100K - 500K SAMPLES
9.4.1. Overview
9.4.2. 100K - 500K Samples Market Forecast and Analysis
9.5. 500K - 2M SAMPLES
9.5.1. Overview
9.5.2. 500K - 2M Samples Market Forecast and Analysis
9.6. MORE THAN 2M SAMPLES
9.6.1. Overview
9.6.2. More Than 2M Samples Market Forecast and Analysis
10. AUTOMATED SAMPLE STORAGE SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - END USER
10.1. OVERVIEW
10.2. END USER MARKET FORECASTS AND ANALYSIS
10.3. PHARMA AND BIOTECH COMPANIES
10.3.1. Overview
10.3.2. Pharma and Biotech Companies Market Forecast and Analysis
10.4. ACADEMIC RESEARCH LABS
10.4.1. Overview
10.4.2. Academic Research Labs Market Forecast and Analysis
10.5. PRIVATE BIOBANKS
10.5.1. Overview
10.5.2. Private Biobanks Market Forecast and Analysis
11. AUTOMATED SAMPLE STORAGE SYSTEMS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Automated Sample Storage Systems Market Overview
11.1.2 North America Automated Sample Storage Systems Market Forecasts and Analysis
11.1.3 North America Automated Sample Storage Systems Market Forecasts and Analysis - By Product
11.1.4 North America Automated Sample Storage Systems Market Forecasts and Analysis - By Application
11.1.5 North America Automated Sample Storage Systems Market Forecasts and Analysis - By Capacity
11.1.6 North America Automated Sample Storage Systems Market Forecasts and Analysis - By End User
11.1.7 North America Automated Sample Storage Systems Market Forecasts and Analysis - By Countries
11.1.7.1 United States Automated Sample Storage Systems Market
11.1.7.1.1 United States Automated Sample Storage Systems Market by Product
11.1.7.1.2 United States Automated Sample Storage Systems Market by Application
11.1.7.1.3 United States Automated Sample Storage Systems Market by Capacity
11.1.7.1.4 United States Automated Sample Storage Systems Market by End User
11.1.7.2 Canada Automated Sample Storage Systems Market
11.1.7.2.1 Canada Automated Sample Storage Systems Market by Product
11.1.7.2.2 Canada Automated Sample Storage Systems Market by Application
11.1.7.2.3 Canada Automated Sample Storage Systems Market by Capacity
11.1.7.2.4 Canada Automated Sample Storage Systems Market by End User
11.1.7.3 Mexico Automated Sample Storage Systems Market
11.1.7.3.1 Mexico Automated Sample Storage Systems Market by Product
11.1.7.3.2 Mexico Automated Sample Storage Systems Market by Application
11.1.7.3.3 Mexico Automated Sample Storage Systems Market by Capacity
11.1.7.3.4 Mexico Automated Sample Storage Systems Market by End User
11.2. EUROPE
11.2.1 Europe Automated Sample Storage Systems Market Overview
11.2.2 Europe Automated Sample Storage Systems Market Forecasts and Analysis
11.2.3 Europe Automated Sample Storage Systems Market Forecasts and Analysis - By Product
11.2.4 Europe Automated Sample Storage Systems Market Forecasts and Analysis - By Application
11.2.5 Europe Automated Sample Storage Systems Market Forecasts and Analysis - By Capacity
11.2.6 Europe Automated Sample Storage Systems Market Forecasts and Analysis - By End User
11.2.7 Europe Automated Sample Storage Systems Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Automated Sample Storage Systems Market
11.2.7.1.1 Germany Automated Sample Storage Systems Market by Product
11.2.7.1.2 Germany Automated Sample Storage Systems Market by Application
11.2.7.1.3 Germany Automated Sample Storage Systems Market by Capacity
11.2.7.1.4 Germany Automated Sample Storage Systems Market by End User
11.2.7.2 France Automated Sample Storage Systems Market
11.2.7.2.1 France Automated Sample Storage Systems Market by Product
11.2.7.2.2 France Automated Sample Storage Systems Market by Application
11.2.7.2.3 France Automated Sample Storage Systems Market by Capacity
11.2.7.2.4 France Automated Sample Storage Systems Market by End User
11.2.7.3 Italy Automated Sample Storage Systems Market
11.2.7.3.1 Italy Automated Sample Storage Systems Market by Product
11.2.7.3.2 Italy Automated Sample Storage Systems Market by Application
11.2.7.3.3 Italy Automated Sample Storage Systems Market by Capacity
11.2.7.3.4 Italy Automated Sample Storage Systems Market by End User
11.2.7.4 Spain Automated Sample Storage Systems Market
11.2.7.4.1 Spain Automated Sample Storage Systems Market by Product
11.2.7.4.2 Spain Automated Sample Storage Systems Market by Application
11.2.7.4.3 Spain Automated Sample Storage Systems Market by Capacity
11.2.7.4.4 Spain Automated Sample Storage Systems Market by End User
11.2.7.5 United Kingdom Automated Sample Storage Systems Market
11.2.7.5.1 United Kingdom Automated Sample Storage Systems Market by Product
11.2.7.5.2 United Kingdom Automated Sample Storage Systems Market by Application
11.2.7.5.3 United Kingdom Automated Sample Storage Systems Market by Capacity
11.2.7.5.4 United Kingdom Automated Sample Storage Systems Market by End User
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Automated Sample Storage Systems Market Overview
11.3.2 Asia-Pacific Automated Sample Storage Systems Market Forecasts and Analysis
11.3.3 Asia-Pacific Automated Sample Storage Systems Market Forecasts and Analysis - By Product
11.3.4 Asia-Pacific Automated Sample Storage Systems Market Forecasts and Analysis - By Application
11.3.5 Asia-Pacific Automated Sample Storage Systems Market Forecasts and Analysis - By Capacity
11.3.6 Asia-Pacific Automated Sample Storage Systems Market Forecasts and Analysis - By End User
11.3.7 Asia-Pacific Automated Sample Storage Systems Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Automated Sample Storage Systems Market
11.3.7.1.1 Australia Automated Sample Storage Systems Market by Product
11.3.7.1.2 Australia Automated Sample Storage Systems Market by Application
11.3.7.1.3 Australia Automated Sample Storage Systems Market by Capacity
11.3.7.1.4 Australia Automated Sample Storage Systems Market by End User
11.3.7.2 China Automated Sample Storage Systems Market
11.3.7.2.1 China Automated Sample Storage Systems Market by Product
11.3.7.2.2 China Automated Sample Storage Systems Market by Application
11.3.7.2.3 China Automated Sample Storage Systems Market by Capacity
11.3.7.2.4 China Automated Sample Storage Systems Market by End User
11.3.7.3 Japan Automated Sample Storage Systems Market
11.3.7.3.1 Japan Automated Sample Storage Systems Market by Product
11.3.7.3.2 Japan Automated Sample Storage Systems Market by Application
11.3.7.3.3 Japan Automated Sample Storage Systems Market by Capacity
11.3.7.3.4 Japan Automated Sample Storage Systems Market by End User
11.3.7.4 South Korea Automated Sample Storage Systems Market
11.3.7.4.1 South Korea Automated Sample Storage Systems Market by Product
11.3.7.4.2 South Korea Automated Sample Storage Systems Market by Application
11.3.7.4.3 South Korea Automated Sample Storage Systems Market by Capacity
11.3.7.4.4 South Korea Automated Sample Storage Systems Market by End User
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Automated Sample Storage Systems Market Overview
11.4.2 Middle East and Africa Automated Sample Storage Systems Market Forecasts and Analysis
11.4.3 Middle East and Africa Automated Sample Storage Systems Market Forecasts and Analysis - By Product
11.4.4 Middle East and Africa Automated Sample Storage Systems Market Forecasts and Analysis - By Application
11.4.5 Middle East and Africa Automated Sample Storage Systems Market Forecasts and Analysis - By Capacity
11.4.6 Middle East and Africa Automated Sample Storage Systems Market Forecasts and Analysis - By End User
11.4.7 Middle East and Africa Automated Sample Storage Systems Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Automated Sample Storage Systems Market
11.4.7.1.1 South Africa Automated Sample Storage Systems Market by Product
11.4.7.1.2 South Africa Automated Sample Storage Systems Market by Application
11.4.7.1.3 South Africa Automated Sample Storage Systems Market by Capacity
11.4.7.1.4 South Africa Automated Sample Storage Systems Market by End User
11.4.7.2 Saudi Arabia Automated Sample Storage Systems Market
11.4.7.2.1 Saudi Arabia Automated Sample Storage Systems Market by Product
11.4.7.2.2 Saudi Arabia Automated Sample Storage Systems Market by Application
11.4.7.2.3 Saudi Arabia Automated Sample Storage Systems Market by Capacity
11.4.7.2.4 Saudi Arabia Automated Sample Storage Systems Market by End User
11.4.7.3 U.A.E Automated Sample Storage Systems Market
11.4.7.3.1 U.A.E Automated Sample Storage Systems Market by Product
11.4.7.3.2 U.A.E Automated Sample Storage Systems Market by Application
11.4.7.3.3 U.A.E Automated Sample Storage Systems Market by Capacity
11.4.7.3.4 U.A.E Automated Sample Storage Systems Market by End User
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Automated Sample Storage Systems Market Overview
11.5.2 South and Central America Automated Sample Storage Systems Market Forecasts and Analysis
11.5.3 South and Central America Automated Sample Storage Systems Market Forecasts and Analysis - By Product
11.5.4 South and Central America Automated Sample Storage Systems Market Forecasts and Analysis - By Application
11.5.5 South and Central America Automated Sample Storage Systems Market Forecasts and Analysis - By Capacity
11.5.6 South and Central America Automated Sample Storage Systems Market Forecasts and Analysis - By End User
11.5.7 South and Central America Automated Sample Storage Systems Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Automated Sample Storage Systems Market
11.5.7.1.1 Brazil Automated Sample Storage Systems Market by Product
11.5.7.1.2 Brazil Automated Sample Storage Systems Market by Application
11.5.7.1.3 Brazil Automated Sample Storage Systems Market by Capacity
11.5.7.1.4 Brazil Automated Sample Storage Systems Market by End User
11.5.7.2 Argentina Automated Sample Storage Systems Market
11.5.7.2.1 Argentina Automated Sample Storage Systems Market by Product
11.5.7.2.2 Argentina Automated Sample Storage Systems Market by Application
11.5.7.2.3 Argentina Automated Sample Storage Systems Market by Capacity
11.5.7.2.4 Argentina Automated Sample Storage Systems 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 SAMPLE STORAGE SYSTEMS MARKET, KEY COMPANY PROFILES
13.1. HAMILTON COMPANY
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. ANGELANTONI LIFE SCIENCE
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. LICONIC AG
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. BROOKS AUTOMATION, INC
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. THERMO FISHER SCIENTIFIC, INC
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. TTP LABTECH
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. PHC HOLDINGS CORPORATION
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. TSUBAKIMOTO CHAIN CO
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. SWISSLOG HOLDING LTD
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
13.10. HIGHRES BIOSOLUTIONS®
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
- Hamilton Company
- Angelantoni Life Science
- LiCONiC AG
- Brooks Automation, Inc.
- Thermo Fisher Scientific, Inc.
- TTP LabTech
- PHC Holdings Corporation
- Tsubakimoto Chain Co.
- Swisslog Holding Ltd
- HighRes Biosolutions®
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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