Automotive Digital Cockpit Market Dynamics 2021-2031
The automotive digital cockpit market is expected to register a CAGR of 13.2% during 2023–2031. The evolution of advanced infotainment systems with the adoption of connected cars is likely to remain a key trend in the market.
Automotive Digital Cockpit Market Analysis
Advancements in connected, autonomous, shared, and electric vehicles have created massive demand for the automotive digital cockpit market growth. The digital revolution to vehicle interiors with integrated displays for infotainment and instrument clusters is increasing at a rapid pace. The digital cockpits enable technology to enhance connectivity, safety, and entertainment features, providing a step to the truly digital experience. Connected cars and autonomous vehicles adoption is growing, which provides growth for the automotive digital cockpit market. The market is rapidly growing, offering customers new opportunities, safety skills, and evolved entertainment experiences among the consumers.
Automotive Digital Cockpit Market Overview
- The digital cockpit involves telematics, a navigation system using GPS technology to plot asset movements, advanced infotainment systems and others.
- The growing need for an immersive digital experience among consumers and the surge in the adoption of advanced features in automotive drives the automotive digital cockpit market. The demand for advanced digital experiences is rising, and also rising changes in analog car dashboards to multi-screen and multimodal digital experiences for users.
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Automotive Digital Cockpit Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Automotive Digital Cockpit Market: Strategic Insights
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Automotive Digital Cockpit Market Drivers and Opportunities
Increasing automotive sales with consumers' preference for digital cockpits, which is driving market growth
- Increased automotive sales have resulted in the customization of digital cockpits for convenience, driving the market CAGR for automotive digital cockpits. According to the International Organization of Motor Vehicle Manufacturers (OICA), passenger car sales around the globe reached 65.27 million units in 2023, which increased by 11.3% compared to the previous year, 2022. Such increases in passenger car sales globally have created a massive demand for the automotive digital cockpit market growth during the forecast period.
- Most automotive OEMs offer customizations in digital cockpits based on buyer demands and preferences, with controls mounted on steering wheels or a voice control touch screen to operate the vehicle, focusing on providing the driver with an effortless driving experience with smoother vehicle functionality.
Increasing Adoption of Artificial Intelligence, IoT, and Advanced Infotainment Systems Driving the Opportunity in the Market
- The automotive industry is experiencing digital transformation, providing its customers with a unified digital experience. The digital cockpit has become a main part of automakers focused on software-defined vehicles. The adoption of in-vehicle telematics, infotainment systems, safety sensors, navigation, and IoT are driving factors for the automotive digital cockpit market. The growing demand for improved comfort and convenience in vehicles in emerging economies significantly affects the digital cockpit market of automotive.
- Also, the growing adoption of connected cars and autonomous vehicles across the globe in developed countries is expected to create ample opportunity for the automotive digital cockpit market growth.
Automotive Digital Cockpit Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Automotive Digital Cockpit market analysis are vehicle type and equipment.
- On the basis of vehicle type, the market is divided into light commercial vehicle, passenger cars, and heavy commercial vehicle.
- Based on Equipment, the automotive digital cockpit market is divided into the digital instrument cluster display type, advanced head unit, head-up display (HUD), camera-based driver monitoring system, and others.
Automotive Digital Cockpit Market Share Analysis by Geography
- The automotive digital cockpit 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 Digital Cockpit 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 Digital Cockpit market in these regions.
Automotive Digital Cockpit Market Report Scope
Automotive Digital Cockpit Market News and Recent Developments
The automotive digital cockpit 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 digital cockpit market are listed below:
- Continental and Google Cloud continue their journey with the theme “Talking instead of Typing” at CES 2024, Las Vegas. The two companies announced their new partnership last year at IAA Mobility. They joined forces to equip cars with generative AI, enabling an intuitive user experience for drivers. The seamless integration of Google Cloud’s conversational and gen AI into Continental’s Smart Cockpit High-Performance Computer (HPC) enables a natural and intuitive interaction between user and assistant. Prime use cases for such an experience are conversational navigation, driver personalization and in-car control. (Source: Glue Up, Company Website, April 2024)
- BlackBerry Limited and PATEO, a leading Internet of Vehicles (IvO) technology service and product provider in China, announced that PATEO’s intelligent cockpit, PATEO CONNECT+, will be powered by BlackBerry® QNX® technology and put into mass production in more than ten individual models across five OEMs, including VOYAH, Hozon New Energy (NETA), a top private car company in China and two international automakers. (Source: BlackBerry Limited, News, June, 2022)
- Visteon and Qualcomm Technologies, Inc. announced that the companies intend to take their technology collaboration one step further with the development of a high-performance cockpit domain controller designed to enable global automakers to build next-generation cockpits. (Source: Visteon, News, January 2023)
Automotive Digital Cockpit Market Report Coverage and Deliverables
The “Automotive Digital Cockpit Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Automotive digital cockpit market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Automotive digital cockpit market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Automotive Digital Cockpit 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 Digital Cockpit 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
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The leading players operating in the automotive digital cockpit market are Robert Bosch GmbH, Denso Corporation, Visteon, Aptiv, Harman International, Pioneer Corporation, Nisshinbo Brake Inc., Continental AG, ZF Friedrichshafen AG, Federal-Mogul, Hyundai Mobis, and Others.
Increasing adoption of artificial intelligence, IoT, and advanced infotainment systems driving the opportunity in the market.
The global automotive digital cockpit market is expected to grow at a CAGR of 13.2% during the forecast period 2023 - 2031.
Increasing automotive sales with consumers' preference for digital cockpits is driving market growth.
TABLE OF CONTENTS
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Automotive Digital Cockpit Market - By Equipment
1.3.2Automotive Digital Cockpit Market - By Vehicle Type
1.3.3Automotive Digital Cockpit Market - By Application
1.3.4Automotive Digital Cockpit Market - By Region
1.3.4.1By Country
2.KEY TAKEWAYS
3.RESEARCH METHODOLOGY
4.AUTOMOTIVE DIGITAL COCKPIT MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.AUTOMOTIVE DIGITAL COCKPIT 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.AUTOMOTIVE DIGITAL COCKPIT MARKET - GLOBAL MARKET ANALYSIS
6.1.AUTOMOTIVE DIGITAL COCKPIT - GLOBAL MARKET OVERVIEW
6.2.AUTOMOTIVE DIGITAL COCKPIT - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.AUTOMOTIVE DIGITAL COCKPIT MARKET - REVENUE AND FORECASTS TO 2028 - EQUIPMENT
7.1.OVERVIEW
7.2.EQUIPMENT MARKET FORECASTS AND ANALYSIS
7.3.DIGITAL INSTRUMENT CLUSTER
7.3.1.Overview
7.3.2.Digital Instrument Cluster Market Forecast and Analysis
7.4.ADVANCED HEAD UNIT
7.4.1.Overview
7.4.2.Advanced Head Unit Market Forecast and Analysis
7.5.HUD
7.5.1.Overview
7.5.2.HUD Market Forecast and Analysis
7.6.CAMERA BASED DRIVER MONITORING SYSTEM
7.6.1.Overview
7.6.2.Camera Based Driver Monitoring System Market Forecast and Analysis
8.AUTOMOTIVE DIGITAL COCKPIT MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
8.1.OVERVIEW
8.2.VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
8.3.PASSENGER VEHICLE
8.3.1.Overview
8.3.2.Passenger Vehicle Market Forecast and Analysis
8.4.COMMERCIAL VEHICLE
8.4.1.Overview
8.4.2.Commercial Vehicle Market Forecast and Analysis
9.AUTOMOTIVE DIGITAL COCKPIT MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1.OVERVIEW
9.2.APPLICATION MARKET FORECASTS AND ANALYSIS
9.3.LUXURY CARS
9.3.1.Overview
9.3.2.Luxury Cars Market Forecast and Analysis
9.4.MID-SEGMENT CARS
9.4.1.Overview
9.4.2.Mid-segment Cars Market Forecast and Analysis
10.AUTOMOTIVE DIGITAL COCKPIT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Automotive Digital Cockpit Market Overview
10.1.2North America Automotive Digital Cockpit Market Forecasts and Analysis
10.1.3North America Automotive Digital Cockpit Market Forecasts and Analysis - By Equipment
10.1.4North America Automotive Digital Cockpit Market Forecasts and Analysis - By Vehicle Type
10.1.5North America Automotive Digital Cockpit Market Forecasts and Analysis - By Application
10.1.6North America Automotive Digital Cockpit Market Forecasts and Analysis - By Countries
10.1.6.1United States Automotive Digital Cockpit Market
10.1.6.1.1United States Automotive Digital Cockpit Market by Equipment
10.1.6.1.2United States Automotive Digital Cockpit Market by Vehicle Type
10.1.6.1.3United States Automotive Digital Cockpit Market by Application
10.1.6.2Canada Automotive Digital Cockpit Market
10.1.6.2.1Canada Automotive Digital Cockpit Market by Equipment
10.1.6.2.2Canada Automotive Digital Cockpit Market by Vehicle Type
10.1.6.2.3Canada Automotive Digital Cockpit Market by Application
10.1.6.3Mexico Automotive Digital Cockpit Market
10.1.6.3.1Mexico Automotive Digital Cockpit Market by Equipment
10.1.6.3.2Mexico Automotive Digital Cockpit Market by Vehicle Type
10.1.6.3.3Mexico Automotive Digital Cockpit Market by Application
10.2.EUROPE
10.2.1Europe Automotive Digital Cockpit Market Overview
10.2.2Europe Automotive Digital Cockpit Market Forecasts and Analysis
10.2.3Europe Automotive Digital Cockpit Market Forecasts and Analysis - By Equipment
10.2.4Europe Automotive Digital Cockpit Market Forecasts and Analysis - By Vehicle Type
10.2.5Europe Automotive Digital Cockpit Market Forecasts and Analysis - By Application
10.2.6Europe Automotive Digital Cockpit Market Forecasts and Analysis - By Countries
10.2.6.1Germany Automotive Digital Cockpit Market
10.2.6.1.1Germany Automotive Digital Cockpit Market by Equipment
10.2.6.1.2Germany Automotive Digital Cockpit Market by Vehicle Type
10.2.6.1.3Germany Automotive Digital Cockpit Market by Application
10.2.6.2France Automotive Digital Cockpit Market
10.2.6.2.1France Automotive Digital Cockpit Market by Equipment
10.2.6.2.2France Automotive Digital Cockpit Market by Vehicle Type
10.2.6.2.3France Automotive Digital Cockpit Market by Application
10.2.6.3Italy Automotive Digital Cockpit Market
10.2.6.3.1Italy Automotive Digital Cockpit Market by Equipment
10.2.6.3.2Italy Automotive Digital Cockpit Market by Vehicle Type
10.2.6.3.3Italy Automotive Digital Cockpit Market by Application
10.2.6.4United Kingdom Automotive Digital Cockpit Market
10.2.6.4.1United Kingdom Automotive Digital Cockpit Market by Equipment
10.2.6.4.2United Kingdom Automotive Digital Cockpit Market by Vehicle Type
10.2.6.4.3United Kingdom Automotive Digital Cockpit Market by Application
10.2.6.5Russia Automotive Digital Cockpit Market
10.2.6.5.1Russia Automotive Digital Cockpit Market by Equipment
10.2.6.5.2Russia Automotive Digital Cockpit Market by Vehicle Type
10.2.6.5.3Russia Automotive Digital Cockpit Market by Application
10.2.6.6Rest of Europe Automotive Digital Cockpit Market
10.2.6.6.1Rest of Europe Automotive Digital Cockpit Market by Equipment
10.2.6.6.2Rest of Europe Automotive Digital Cockpit Market by Vehicle Type
10.2.6.6.3Rest of Europe Automotive Digital Cockpit Market by Application
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Automotive Digital Cockpit Market Overview
10.3.2Asia-Pacific Automotive Digital Cockpit Market Forecasts and Analysis
10.3.3Asia-Pacific Automotive Digital Cockpit Market Forecasts and Analysis - By Equipment
10.3.4Asia-Pacific Automotive Digital Cockpit Market Forecasts and Analysis - By Vehicle Type
10.3.5Asia-Pacific Automotive Digital Cockpit Market Forecasts and Analysis - By Application
10.3.6Asia-Pacific Automotive Digital Cockpit Market Forecasts and Analysis - By Countries
10.3.6.1Australia Automotive Digital Cockpit Market
10.3.6.1.1Australia Automotive Digital Cockpit Market by Equipment
10.3.6.1.2Australia Automotive Digital Cockpit Market by Vehicle Type
10.3.6.1.3Australia Automotive Digital Cockpit Market by Application
10.3.6.2China Automotive Digital Cockpit Market
10.3.6.2.1China Automotive Digital Cockpit Market by Equipment
10.3.6.2.2China Automotive Digital Cockpit Market by Vehicle Type
10.3.6.2.3China Automotive Digital Cockpit Market by Application
10.3.6.3India Automotive Digital Cockpit Market
10.3.6.3.1India Automotive Digital Cockpit Market by Equipment
10.3.6.3.2India Automotive Digital Cockpit Market by Vehicle Type
10.3.6.3.3India Automotive Digital Cockpit Market by Application
10.3.6.4Japan Automotive Digital Cockpit Market
10.3.6.4.1Japan Automotive Digital Cockpit Market by Equipment
10.3.6.4.2Japan Automotive Digital Cockpit Market by Vehicle Type
10.3.6.4.3Japan Automotive Digital Cockpit Market by Application
10.3.6.5Rest of Asia-Pacific Automotive Digital Cockpit Market
10.3.6.5.1Rest of Asia-Pacific Automotive Digital Cockpit Market by Equipment
10.3.6.5.2Rest of Asia-Pacific Automotive Digital Cockpit Market by Vehicle Type
10.3.6.5.3Rest of Asia-Pacific Automotive Digital Cockpit Market by Application
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Automotive Digital Cockpit Market Overview
10.4.2Middle East and Africa Automotive Digital Cockpit Market Forecasts and Analysis
10.4.3Middle East and Africa Automotive Digital Cockpit Market Forecasts and Analysis - By Equipment
10.4.4Middle East and Africa Automotive Digital Cockpit Market Forecasts and Analysis - By Vehicle Type
10.4.5Middle East and Africa Automotive Digital Cockpit Market Forecasts and Analysis - By Application
10.4.6Middle East and Africa Automotive Digital Cockpit Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Automotive Digital Cockpit Market
10.4.6.1.1South Africa Automotive Digital Cockpit Market by Equipment
10.4.6.1.2South Africa Automotive Digital Cockpit Market by Vehicle Type
10.4.6.1.3South Africa Automotive Digital Cockpit Market by Application
10.4.6.2Saudi Arabia Automotive Digital Cockpit Market
10.4.6.2.1Saudi Arabia Automotive Digital Cockpit Market by Equipment
10.4.6.2.2Saudi Arabia Automotive Digital Cockpit Market by Vehicle Type
10.4.6.2.3Saudi Arabia Automotive Digital Cockpit Market by Application
10.4.6.3U.A.E Automotive Digital Cockpit Market
10.4.6.3.1U.A.E Automotive Digital Cockpit Market by Equipment
10.4.6.3.2U.A.E Automotive Digital Cockpit Market by Vehicle Type
10.4.6.3.3U.A.E Automotive Digital Cockpit Market by Application
10.4.6.4Rest of Middle East and Africa Automotive Digital Cockpit Market
10.4.6.4.1Rest of Middle East and Africa Automotive Digital Cockpit Market by Equipment
10.4.6.4.2Rest of Middle East and Africa Automotive Digital Cockpit Market by Vehicle Type
10.4.6.4.3Rest of Middle East and Africa Automotive Digital Cockpit Market by Application
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Automotive Digital Cockpit Market Overview
10.5.2South and Central America Automotive Digital Cockpit Market Forecasts and Analysis
10.5.3South and Central America Automotive Digital Cockpit Market Forecasts and Analysis - By Equipment
10.5.4South and Central America Automotive Digital Cockpit Market Forecasts and Analysis - By Vehicle Type
10.5.5South and Central America Automotive Digital Cockpit Market Forecasts and Analysis - By Application
10.5.6South and Central America Automotive Digital Cockpit Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Automotive Digital Cockpit Market
10.5.6.1.1Brazil Automotive Digital Cockpit Market by Equipment
10.5.6.1.2Brazil Automotive Digital Cockpit Market by Vehicle Type
10.5.6.1.3Brazil Automotive Digital Cockpit Market by Application
10.5.6.2Argentina Automotive Digital Cockpit Market
10.5.6.2.1Argentina Automotive Digital Cockpit Market by Equipment
10.5.6.2.2Argentina Automotive Digital Cockpit Market by Vehicle Type
10.5.6.2.3Argentina Automotive Digital Cockpit Market by Application
10.5.6.3Rest of South and Central America Automotive Digital Cockpit Market
10.5.6.3.1Rest of South and Central America Automotive Digital Cockpit Market by Equipment
10.5.6.3.2Rest of South and Central America Automotive Digital Cockpit Market by Vehicle Type
10.5.6.3.3Rest of South and Central America Automotive Digital Cockpit Market by Application
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 DIGITAL COCKPIT MARKET, KEY COMPANY PROFILES
12.1.CONTINENTAL AG
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.FAURECIA
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.GARMIN LTD.
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.JVC KENWOOD CORPORATION
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.PANASONIC 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.ROBERT BOSCH GMBH
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.SAMSUNG CORPORATION (HARMAN INTERNATIONAL)
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.TIETO
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.VISTEON CORPORATION
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. Continental AG
2. Denso Corporation
3. Faurecia
4. Garmin Ltd.
5. JVC Kenwood Corporation
6. Panasonic Corporation
7. Robert Bosch GmBH
8. Samsung Corporation (Harman International)
9. Tieto
10. Visteon Corporation
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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