Automotive Air Purifier Market Key Findings by 2031
The automotive air purifier market is expected to register a CAGR of 8.2% during 2023–2031. Rising sale of the connected cars with advanced features driving the trend in the market.
Automotive Air Purifier Market Analysis
- The factors that are anticipated to drive the automotive air purifier market are stringent safety regulations, increasing consumer awareness about vehicle safety, and advancements in automotive air purifiers’ electronics technology. Airbag electronics play a crucial role in enhancing the overall safety and reliability of modern vehicles.
- The automotive air purifier uses advanced filters and technologies to remove impurities from the air inside the cabin and purify the air. The demand for clean and toxic-free air has provided growth in the automotive air purifier market. Increasing air pollution has resulted in many health and environmental issues. To avoid the effect of pollution, the demand for automotive air purifier products is increasing.
Automotive Air Purifier Market Overview
- The automotive air purifier is equipment designed specifically for use in cars to remove contaminants from air within vehicles and eliminate Odors. The air purifiers are shifted from normal purifiers to smart purifiers such as HEPA filters, UV lamp technologies, Photo-catalysts, and others. The increase in air pollution has affected the market for automotive air purifiers, as it removes airborne particles and helps prevent contaminants from air being returned to air. The increasing awareness and concern about poor air quality is creating opportunities for the market.
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Automotive Air Purifier Market: Strategic Insights
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Customize Research To Suit Your Requirement
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Automotive Air Purifier Market: Strategic Insights
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Automotive Air Purifier Market Drivers and Opportunities
Increased Sales of Luxury Vehicles
Luxury automobile manufacturers are increasingly driving the evolution by integrating sophisticated automatic safety technologies, including automotive air purifiers, into their vehicles to ensure passenger safety and comply with stringent automotive safety regulations. As per the latest Automotive Industry Associations report, in India, more than 47,000 luxury vehicles were sold in 2023, which increased by 21% compared to 2022. BMW and Mercedes-Benz announced increased sales in 2023 by 10-15% compared to 2022. These luxury vehicles consist of air purifiers to improve the air quality inside the cars. An increase in awareness of the effects of air pollution is driving the market for automotive air purifiers. Customers are becoming more conscious about their health, which results in demand for air purifiers infusing automobiles, due to which the demand for automotive air purifiers is increasing.
- Automotive air purifier technology has a high potential market in the luxury automobile segment, which has a significant share in the global passenger automobile market, owing to increased awareness about safety aspects in automobiles and increased government policies and norms related to vehicular safety.
Increased Advancement of the Latest Technology Automotive Purifier is Driving Trend in the Market Growth
The increasing automotive advancement of the electronics sensors-based purifiers by the key players is creating ample opportunity for market growth. For instance, in November 2022, Hero Electronix, one of the consumer technology company’s brands, Qubo, launched a passenger car air purifier. The new advanced technology-based air purifier reduces air pollution in the car and ensures clean air. It consists of 3-layer filtrations that can remove PM up to 2.5-10, allergens, dust, airborne bacteria, cigarette smoke, and other chemicals emitted from exhaust fumes from the car. It reduces odors and improves the air quality in the car.
Automotive Air Purifier Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Automotive Air Purifier market analysis are type, vehicle class, technology, and vehicle type.
- Based on type, the global market is segmented into purifiers, ionizers, and hybrid.
- Based on vehicle class, the market is divided into Class A/B, Class C, Class D, Class E, Class F, and SUVs.
- Depending upon vehicle type, the market is divided into passenger cars and commercial vehicles.
- Based on technology, the market is segmented into HEPA, activated carbon, and ionic filters.
Automotive Air Purifier Market Share Analysis by Geography
- The automotive air purifier market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering Automotive Air Purifier market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the Automotive Air Purifier market in these regions.
Automotive Air Purifier Market Report Scope
Automotive Air Purifier Market News and Recent Developments
The Automotive Air Purifier market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Automotive Air Purifier market are listed below:
- Panasonic Automotive Systems Company of America, a tier-one automotive supplier, announces the launch of its nanoe™ X portable in-vehicle air cleaner that provides and protects cabin air purity in North America. This air purifier not only reduces odors but it helps inhibit viruses, bacteria, mold, and allergens, both airborne and on surfaces. Removing these hazardous substances can ensure cleaner air for everyone in the vehicle for an overall healthier driving experience. The air purifier will be on display at the Panasonic booth #16317 LVCC Main Hall. (Source: ZF Friedrichshafen AG, Company Website, March 2024)
Automotive Air Purifier Market Report Coverage and Deliverables
The “Automotive Air Purifier Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Automotive air purifier market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Automotive air purifier market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Automotive air purifier market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the automotive air purifier market
- Detailed company profiles
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
The global automotive air purifier market is expected to grow at a CAGR of 8.2% during the forecast period 2023 - 2031.
The increasing sales of luxury cars with increasing automobile production are the major factors driving the automotive air purifier market.
Rising sale of the connected cars with advanced features driving the trend in the market.
The leading players operating in the automotive air purifier market include Honeywell International, Inc., Mann+Hummel, Daikin Industries Ltd., K&N Engineering, Koninklijke Philips NV, Parker Hannifin, Donaldson Company Inc., LG Electronics, Panasonic Corporation, DENSO CORPORATION, Sharp Corp., Whirlpool Corporation, Dyson, Hamilton Beach Brands, and Hengst SE.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on the request are an additional 3–5 company profiles and a 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.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Automotive Air Purifier Market - By Technology
1.3.2 Automotive Air Purifier Market - By Type
1.3.3 Automotive Air Purifier Market - By Vehicle Class
1.3.4 Automotive Air Purifier Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMOTIVE AIR PURIFIER MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. AUTOMOTIVE AIR PURIFIER 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. AUTOMOTIVE AIR PURIFIER MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE AIR PURIFIER - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE AIR PURIFIER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTOMOTIVE AIR PURIFIER MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
7.1. OVERVIEW
7.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. HEPA
7.3.1. Overview
7.3.2. Hepa Market Forecast and Analysis
7.4. ACTIVATED CARBON
7.4.1. Overview
7.4.2. Activated Carbon Market Forecast and Analysis
7.5. PHOTOCATALYTIC
7.5.1. Overview
7.5.2. Photocatalytic Market Forecast and Analysis
7.6. ICONIC FILTERS
7.6.1. Overview
7.6.2. Iconic Filters Market Forecast and Analysis
8. AUTOMOTIVE AIR PURIFIER MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
8.1. OVERVIEW
8.2. TYPE MARKET FORECASTS AND ANALYSIS
8.3. PURIFIER
8.3.1. Overview
8.3.2. Purifier Market Forecast and Analysis
8.4. IONIZER
8.4.1. Overview
8.4.2. Ionizer Market Forecast and Analysis
8.5. HYBRID
8.5.1. Overview
8.5.2. Hybrid Market Forecast and Analysis
9. AUTOMOTIVE AIR PURIFIER MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE CLASS
9.1. OVERVIEW
9.2. VEHICLE CLASS MARKET FORECASTS AND ANALYSIS
9.3. CLASS A/B
9.3.1. Overview
9.3.2. Class A/B Market Forecast and Analysis
9.4. CLASS C
9.4.1. Overview
9.4.2. Class C Market Forecast and Analysis
9.5. CLASS D
9.5.1. Overview
9.5.2. Class D Market Forecast and Analysis
9.6. CLASS E
9.6.1. Overview
9.6.2. Class E Market Forecast and Analysis
9.7. CLASS F
9.7.1. Overview
9.7.2. Class F Market Forecast and Analysis
9.8. SUVS
9.8.1. Overview
9.8.2. SUVs Market Forecast and Analysis
10. AUTOMOTIVE AIR PURIFIER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Automotive Air Purifier Market Overview
10.1.2 North America Automotive Air Purifier Market Forecasts and Analysis
10.1.3 North America Automotive Air Purifier Market Forecasts and Analysis - By Technology
10.1.4 North America Automotive Air Purifier Market Forecasts and Analysis - By Type
10.1.5 North America Automotive Air Purifier Market Forecasts and Analysis - By Vehicle Class
10.1.6 North America Automotive Air Purifier Market Forecasts and Analysis - By Countries
10.1.6.1 United States Automotive Air Purifier Market
10.1.6.1.1 United States Automotive Air Purifier Market by Technology
10.1.6.1.2 United States Automotive Air Purifier Market by Type
10.1.6.1.3 United States Automotive Air Purifier Market by Vehicle Class
10.1.6.2 Canada Automotive Air Purifier Market
10.1.6.2.1 Canada Automotive Air Purifier Market by Technology
10.1.6.2.2 Canada Automotive Air Purifier Market by Type
10.1.6.2.3 Canada Automotive Air Purifier Market by Vehicle Class
10.1.6.3 Mexico Automotive Air Purifier Market
10.1.6.3.1 Mexico Automotive Air Purifier Market by Technology
10.1.6.3.2 Mexico Automotive Air Purifier Market by Type
10.1.6.3.3 Mexico Automotive Air Purifier Market by Vehicle Class
10.2. EUROPE
10.2.1 Europe Automotive Air Purifier Market Overview
10.2.2 Europe Automotive Air Purifier Market Forecasts and Analysis
10.2.3 Europe Automotive Air Purifier Market Forecasts and Analysis - By Technology
10.2.4 Europe Automotive Air Purifier Market Forecasts and Analysis - By Type
10.2.5 Europe Automotive Air Purifier Market Forecasts and Analysis - By Vehicle Class
10.2.6 Europe Automotive Air Purifier Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Automotive Air Purifier Market
10.2.6.1.1 Germany Automotive Air Purifier Market by Technology
10.2.6.1.2 Germany Automotive Air Purifier Market by Type
10.2.6.1.3 Germany Automotive Air Purifier Market by Vehicle Class
10.2.6.2 France Automotive Air Purifier Market
10.2.6.2.1 France Automotive Air Purifier Market by Technology
10.2.6.2.2 France Automotive Air Purifier Market by Type
10.2.6.2.3 France Automotive Air Purifier Market by Vehicle Class
10.2.6.3 Italy Automotive Air Purifier Market
10.2.6.3.1 Italy Automotive Air Purifier Market by Technology
10.2.6.3.2 Italy Automotive Air Purifier Market by Type
10.2.6.3.3 Italy Automotive Air Purifier Market by Vehicle Class
10.2.6.4 United Kingdom Automotive Air Purifier Market
10.2.6.4.1 United Kingdom Automotive Air Purifier Market by Technology
10.2.6.4.2 United Kingdom Automotive Air Purifier Market by Type
10.2.6.4.3 United Kingdom Automotive Air Purifier Market by Vehicle Class
10.2.6.5 Russia Automotive Air Purifier Market
10.2.6.5.1 Russia Automotive Air Purifier Market by Technology
10.2.6.5.2 Russia Automotive Air Purifier Market by Type
10.2.6.5.3 Russia Automotive Air Purifier Market by Vehicle Class
10.2.6.6 Rest of Europe Automotive Air Purifier Market
10.2.6.6.1 Rest of Europe Automotive Air Purifier Market by Technology
10.2.6.6.2 Rest of Europe Automotive Air Purifier Market by Type
10.2.6.6.3 Rest of Europe Automotive Air Purifier Market by Vehicle Class
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Automotive Air Purifier Market Overview
10.3.2 Asia-Pacific Automotive Air Purifier Market Forecasts and Analysis
10.3.3 Asia-Pacific Automotive Air Purifier Market Forecasts and Analysis - By Technology
10.3.4 Asia-Pacific Automotive Air Purifier Market Forecasts and Analysis - By Type
10.3.5 Asia-Pacific Automotive Air Purifier Market Forecasts and Analysis - By Vehicle Class
10.3.6 Asia-Pacific Automotive Air Purifier Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Automotive Air Purifier Market
10.3.6.1.1 Australia Automotive Air Purifier Market by Technology
10.3.6.1.2 Australia Automotive Air Purifier Market by Type
10.3.6.1.3 Australia Automotive Air Purifier Market by Vehicle Class
10.3.6.2 China Automotive Air Purifier Market
10.3.6.2.1 China Automotive Air Purifier Market by Technology
10.3.6.2.2 China Automotive Air Purifier Market by Type
10.3.6.2.3 China Automotive Air Purifier Market by Vehicle Class
10.3.6.3 India Automotive Air Purifier Market
10.3.6.3.1 India Automotive Air Purifier Market by Technology
10.3.6.3.2 India Automotive Air Purifier Market by Type
10.3.6.3.3 India Automotive Air Purifier Market by Vehicle Class
10.3.6.4 Japan Automotive Air Purifier Market
10.3.6.4.1 Japan Automotive Air Purifier Market by Technology
10.3.6.4.2 Japan Automotive Air Purifier Market by Type
10.3.6.4.3 Japan Automotive Air Purifier Market by Vehicle Class
10.3.6.5 South Korea Automotive Air Purifier Market
10.3.6.5.1 South Korea Automotive Air Purifier Market by Technology
10.3.6.5.2 South Korea Automotive Air Purifier Market by Type
10.3.6.5.3 South Korea Automotive Air Purifier Market by Vehicle Class
10.3.6.6 Rest of Asia-Pacific Automotive Air Purifier Market
10.3.6.6.1 Rest of Asia-Pacific Automotive Air Purifier Market by Technology
10.3.6.6.2 Rest of Asia-Pacific Automotive Air Purifier Market by Type
10.3.6.6.3 Rest of Asia-Pacific Automotive Air Purifier Market by Vehicle Class
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Automotive Air Purifier Market Overview
10.4.2 Middle East and Africa Automotive Air Purifier Market Forecasts and Analysis
10.4.3 Middle East and Africa Automotive Air Purifier Market Forecasts and Analysis - By Technology
10.4.4 Middle East and Africa Automotive Air Purifier Market Forecasts and Analysis - By Type
10.4.5 Middle East and Africa Automotive Air Purifier Market Forecasts and Analysis - By Vehicle Class
10.4.6 Middle East and Africa Automotive Air Purifier Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Automotive Air Purifier Market
10.4.6.1.1 South Africa Automotive Air Purifier Market by Technology
10.4.6.1.2 South Africa Automotive Air Purifier Market by Type
10.4.6.1.3 South Africa Automotive Air Purifier Market by Vehicle Class
10.4.6.2 Saudi Arabia Automotive Air Purifier Market
10.4.6.2.1 Saudi Arabia Automotive Air Purifier Market by Technology
10.4.6.2.2 Saudi Arabia Automotive Air Purifier Market by Type
10.4.6.2.3 Saudi Arabia Automotive Air Purifier Market by Vehicle Class
10.4.6.3 U.A.E Automotive Air Purifier Market
10.4.6.3.1 U.A.E Automotive Air Purifier Market by Technology
10.4.6.3.2 U.A.E Automotive Air Purifier Market by Type
10.4.6.3.3 U.A.E Automotive Air Purifier Market by Vehicle Class
10.4.6.4 Rest of Middle East and Africa Automotive Air Purifier Market
10.4.6.4.1 Rest of Middle East and Africa Automotive Air Purifier Market by Technology
10.4.6.4.2 Rest of Middle East and Africa Automotive Air Purifier Market by Type
10.4.6.4.3 Rest of Middle East and Africa Automotive Air Purifier Market by Vehicle Class
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Automotive Air Purifier Market Overview
10.5.2 South and Central America Automotive Air Purifier Market Forecasts and Analysis
10.5.3 South and Central America Automotive Air Purifier Market Forecasts and Analysis - By Technology
10.5.4 South and Central America Automotive Air Purifier Market Forecasts and Analysis - By Type
10.5.5 South and Central America Automotive Air Purifier Market Forecasts and Analysis - By Vehicle Class
10.5.6 South and Central America Automotive Air Purifier Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Automotive Air Purifier Market
10.5.6.1.1 Brazil Automotive Air Purifier Market by Technology
10.5.6.1.2 Brazil Automotive Air Purifier Market by Type
10.5.6.1.3 Brazil Automotive Air Purifier Market by Vehicle Class
10.5.6.2 Argentina Automotive Air Purifier Market
10.5.6.2.1 Argentina Automotive Air Purifier Market by Technology
10.5.6.2.2 Argentina Automotive Air Purifier Market by Type
10.5.6.2.3 Argentina Automotive Air Purifier Market by Vehicle Class
10.5.6.3 Rest of South and Central America Automotive Air Purifier Market
10.5.6.3.1 Rest of South and Central America Automotive Air Purifier Market by Technology
10.5.6.3.2 Rest of South and Central America Automotive Air Purifier Market by Type
10.5.6.3.3 Rest of South and Central America Automotive Air Purifier Market by Vehicle Class
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. AUTOMOTIVE AIR PURIFIER MARKET, KEY COMPANY PROFILES
12.1. 3M
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. DENSO CORPORATION
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. ELOFIC INDUSTRIES LIMITED
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. EUREKA FORBES
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. HONEYWELL INTERNATIONAL INC
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. OSRAM GMBH
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. KONINKLIJKE PHILIPS N.V.
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. OLANSI HEALTHCARE CO., LTD
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. PURITA
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. XIAMEN AIRBUS ELECTRONIC TECHNOLOGY
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. 3M
2. DENSO CORPORATION
3. Elofic Industries Limited
4. Eureka Forbes
5. Honeywell International Inc
6. OSRAM GmbH
7. Koninklijke Philips N.V.
8. Olansi Healthcare Co., Ltd
9. Purita
10. Xiamen Airbus Electronic Technology
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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