Automotive Paint Robots Market Scope and Size by 2031
The automotive paint robot market is expected to register a CAGR of 9.8% during 2023–2031. Technological advancement in automotive industry advancements in AI and machine learning are enabling painting robots to achieve higher precision and quality in their work for better finished products.
Automotive Paint Robots Market Analysis
The Automotive Paint Robots market has witnessed significant growth in recent years, pushed by the increasing automation and efficiency in the automotive industry. These robots provide precision and consistency in application, leading to improved productivity, less wastage and quality in vehicle manufacturing processes.
Automotive Paint Robots are gaining popularity and are used by manufacturers to stay competitive in the market. With ongoing advancements in technology and the continuous discovery of innovative solutions, the Automotive paint robot market is anticipated to witness continued growth in the coming years, offering opportunities for manufacturers to boost their production capabilities.
Automotive Paint Robots Market Overview
The Automotive Paint Robots Market clients include Original Equipment Manufacturers and Aftermarket service providers. They use paint robots in their production lines to stay consistent and achieve high-quality paint finishes on vehicles. At the same time, the aftermarket sector utilizes paint robots for repainting repair services to maintain vehicles' appeal and aesthetics. These robots enhance productivity and provide cost-effective solutions in automotive painting and will continue to flourish with the growth of the automotive industry.
Due to the rising demand for automation in the construction and renovation sectors to improve efficiency and reduce labor costs, automated robots are being enabled. These painting robots offer companies consistent quality and precision, providing uniform finishes in interior spaces to meet customer expectations and regulatory standards. Also, the integration of advanced technologies like Artificial Intelligence and the Internet of Things ensures real-time monitoring and painting process optimization, pushing and continuing the segment's growth ahead.
The growing demand for efficient and high-quality painting methods from the automotive industry and automation across several manufacturing sectors due to labor shortages in the Asia Pacific region is expanding the demand for paint robots at a noticeable pace. This is also increasing the operational excellence of painting robots in the region. Increasing investments in sectors such as electronics, aerospace, and construction are fuelling the adoption of painting robots to achieve improved productivity and quality assurance.
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Automotive Paint Robots 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 Paint Robots Market: Strategic Insights
Naveen
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Automotive Paint Robots Market Drivers and Opportunities
Increasing Focus on Worker Safety
Increasing focus on worker safety, ergonomic considerations, and efficiency demand is the major driver gaining traction for the application of robots in several industries. Paints release hazardous fumes that can hamper the health of workers; painting robots have the potential to complete repetitive and potentially hazardous tasks and reduce the risk of worker exposure to harmful fumes, chemicals, and physical strain produced during the automotive painting process. Additionally, this not only ensures a safer work environment but also aids companies in fulfilling stringent occupational health and safety regulations and enhances efficiency in the operational cycle. As industrial awareness of employee well-being increases, the adoption of painting robots increases. Moreover, recent advancements in wall climbing robot technologies are gaining popularity for the adoption of painting robots in the construction sector to ensure reaching great heights without putting worker safety at risk and dangers associated with manual painting.
Demand for Customization and Personalization Products
Stringent safety regulations and set standards by governments majorly in developing economics are propelling demand for automotive paint robots market. These regulations have made mandatory to meet specific sound levels and durability in various working conditions various working condition. This prevents unnecessary noises in factories, manufacturing plants. The push of this regulations is acting as a strong driver for advanced automotive paint robots market and encouraging continuous improvement.
Automotive Paint Robots Market Report Segmentation Analysis
Key segments that contributed to the derivation of the automotive paint robots market analysis are type, application and vehicle type.
- Based on type, the automotive paint robots market is divided into Floor-mounted Painting Robot, Wall-mounted Painting Robot, Rail-mounted Painting Robot, Others.
- Based on application, the automotive paint robots market is divided into Interior Exterior.
- Based on vehicle type, the automotive paint robots market is divided into Passenger Cars, Commercial Vehicles.
Automotive Paint Robots Market Share Analysis by Geography
Automotive Paint Robots 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 paint robots 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 paint robots market in these regions.
Automotive Paint Robots Market Report Scope
Automotive Paint Robots Market News and Recent Developments
The automotive paint robots 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 paint robots market are listed below:
- ABB Robotics has collaborated with two world-renowned artists, eight year old Indian child prodigy Advait Kolarkar and Dubai-based digital design collective Illusorr, to create the world’s first robot-painted art car. ABB’s award-winning PixelPaint technology has, without human intervention, perfectly recreated Advait’s swirling, monochromatic design as well as Illusorr’s tri-color geometrical patterns. (Source: ABB Robotics, Company Website, May 2022)
Automotive Paint Robots Market Report Coverage and Deliverables
The “Automotive Paint Robots Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Automotive paint robots market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Automotive paint robots market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Automotive paint robots 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 paint robots 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
Increasing focus on worker safety is contributing to the automotive paint robots market growth.
The global automotive paint robots market is expected to grow at a CAGR of 9.8% during the forecast period 2023 - 2031.
Technological advancement in automotive industry advancements in AI and machine learning are enabling painting robots to achieve higher precision and quality in their work for better finished products.
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 leading players operating in the automotive paint robots market are ABB, Durr Systems, Fanuc, Yaskawa, Kuka Robotics, CMA Robotics, Staubli, Epistolio S.r.l, and Krautzberger.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
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 Paint Robots Market - By Type
1.3.2 Automotive Paint Robots Market - By Application
1.3.3 Automotive Paint Robots Market - By Vehicle Type
1.3.4 Automotive Paint Robots Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMOTIVE PAINT ROBOTS 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 PAINT ROBOTS 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 PAINT ROBOTS MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE PAINT ROBOTS - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE PAINT ROBOTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTOMOTIVE PAINT ROBOTS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. FLOOR-MOUNTED PAINTING ROBOT
7.3.1. Overview
7.3.2. Floor-mounted Painting Robot Market Forecast and Analysis
7.4. WALL-MOUNTED PAINTING ROBOT
7.4.1. Overview
7.4.2. Wall-mounted Painting Robot Market Forecast and Analysis
7.5. RAIL-MOUNTED PAINTING ROBOT
7.5.1. Overview
7.5.2. Rail-mounted Painting Robot Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. AUTOMOTIVE PAINT ROBOTS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. INTERIOR
8.3.1. Overview
8.3.2. Interior Market Forecast and Analysis
8.4. EXTERIOR
8.4.1. Overview
8.4.2. Exterior Market Forecast and Analysis
9. AUTOMOTIVE PAINT ROBOTS MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
9.1. OVERVIEW
9.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
9.3. PASSENGER CARS
9.3.1. Overview
9.3.2. Passenger Cars Market Forecast and Analysis
9.4. COMMERCIAL VEHICLES
9.4.1. Overview
9.4.2. Commercial Vehicles Market Forecast and Analysis
10. AUTOMOTIVE PAINT ROBOTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Automotive Paint Robots Market Overview
10.1.2 North America Automotive Paint Robots Market Forecasts and Analysis
10.1.3 North America Automotive Paint Robots Market Forecasts and Analysis - By Type
10.1.4 North America Automotive Paint Robots Market Forecasts and Analysis - By Application
10.1.5 North America Automotive Paint Robots Market Forecasts and Analysis - By Vehicle Type
10.1.6 North America Automotive Paint Robots Market Forecasts and Analysis - By Countries
10.1.6.1 United States Automotive Paint Robots Market
10.1.6.1.1 United States Automotive Paint Robots Market by Type
10.1.6.1.2 United States Automotive Paint Robots Market by Application
10.1.6.1.3 United States Automotive Paint Robots Market by Vehicle Type
10.1.6.2 Canada Automotive Paint Robots Market
10.1.6.2.1 Canada Automotive Paint Robots Market by Type
10.1.6.2.2 Canada Automotive Paint Robots Market by Application
10.1.6.2.3 Canada Automotive Paint Robots Market by Vehicle Type
10.1.6.3 Mexico Automotive Paint Robots Market
10.1.6.3.1 Mexico Automotive Paint Robots Market by Type
10.1.6.3.2 Mexico Automotive Paint Robots Market by Application
10.1.6.3.3 Mexico Automotive Paint Robots Market by Vehicle Type
10.2. EUROPE
10.2.1 Europe Automotive Paint Robots Market Overview
10.2.2 Europe Automotive Paint Robots Market Forecasts and Analysis
10.2.3 Europe Automotive Paint Robots Market Forecasts and Analysis - By Type
10.2.4 Europe Automotive Paint Robots Market Forecasts and Analysis - By Application
10.2.5 Europe Automotive Paint Robots Market Forecasts and Analysis - By Vehicle Type
10.2.6 Europe Automotive Paint Robots Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Automotive Paint Robots Market
10.2.6.1.1 Germany Automotive Paint Robots Market by Type
10.2.6.1.2 Germany Automotive Paint Robots Market by Application
10.2.6.1.3 Germany Automotive Paint Robots Market by Vehicle Type
10.2.6.2 France Automotive Paint Robots Market
10.2.6.2.1 France Automotive Paint Robots Market by Type
10.2.6.2.2 France Automotive Paint Robots Market by Application
10.2.6.2.3 France Automotive Paint Robots Market by Vehicle Type
10.2.6.3 Italy Automotive Paint Robots Market
10.2.6.3.1 Italy Automotive Paint Robots Market by Type
10.2.6.3.2 Italy Automotive Paint Robots Market by Application
10.2.6.3.3 Italy Automotive Paint Robots Market by Vehicle Type
10.2.6.4 United Kingdom Automotive Paint Robots Market
10.2.6.4.1 United Kingdom Automotive Paint Robots Market by Type
10.2.6.4.2 United Kingdom Automotive Paint Robots Market by Application
10.2.6.4.3 United Kingdom Automotive Paint Robots Market by Vehicle Type
10.2.6.5 Russia Automotive Paint Robots Market
10.2.6.5.1 Russia Automotive Paint Robots Market by Type
10.2.6.5.2 Russia Automotive Paint Robots Market by Application
10.2.6.5.3 Russia Automotive Paint Robots Market by Vehicle Type
10.2.6.6 Rest of Europe Automotive Paint Robots Market
10.2.6.6.1 Rest of Europe Automotive Paint Robots Market by Type
10.2.6.6.2 Rest of Europe Automotive Paint Robots Market by Application
10.2.6.6.3 Rest of Europe Automotive Paint Robots Market by Vehicle Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Automotive Paint Robots Market Overview
10.3.2 Asia-Pacific Automotive Paint Robots Market Forecasts and Analysis
10.3.3 Asia-Pacific Automotive Paint Robots Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Automotive Paint Robots Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Automotive Paint Robots Market Forecasts and Analysis - By Vehicle Type
10.3.6 Asia-Pacific Automotive Paint Robots Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Automotive Paint Robots Market
10.3.6.1.1 Australia Automotive Paint Robots Market by Type
10.3.6.1.2 Australia Automotive Paint Robots Market by Application
10.3.6.1.3 Australia Automotive Paint Robots Market by Vehicle Type
10.3.6.2 China Automotive Paint Robots Market
10.3.6.2.1 China Automotive Paint Robots Market by Type
10.3.6.2.2 China Automotive Paint Robots Market by Application
10.3.6.2.3 China Automotive Paint Robots Market by Vehicle Type
10.3.6.3 India Automotive Paint Robots Market
10.3.6.3.1 India Automotive Paint Robots Market by Type
10.3.6.3.2 India Automotive Paint Robots Market by Application
10.3.6.3.3 India Automotive Paint Robots Market by Vehicle Type
10.3.6.4 Japan Automotive Paint Robots Market
10.3.6.4.1 Japan Automotive Paint Robots Market by Type
10.3.6.4.2 Japan Automotive Paint Robots Market by Application
10.3.6.4.3 Japan Automotive Paint Robots Market by Vehicle Type
10.3.6.5 South Korea Automotive Paint Robots Market
10.3.6.5.1 South Korea Automotive Paint Robots Market by Type
10.3.6.5.2 South Korea Automotive Paint Robots Market by Application
10.3.6.5.3 South Korea Automotive Paint Robots Market by Vehicle Type
10.3.6.6 Rest of Asia-Pacific Automotive Paint Robots Market
10.3.6.6.1 Rest of Asia-Pacific Automotive Paint Robots Market by Type
10.3.6.6.2 Rest of Asia-Pacific Automotive Paint Robots Market by Application
10.3.6.6.3 Rest of Asia-Pacific Automotive Paint Robots Market by Vehicle Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Automotive Paint Robots Market Overview
10.4.2 Middle East and Africa Automotive Paint Robots Market Forecasts and Analysis
10.4.3 Middle East and Africa Automotive Paint Robots Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Automotive Paint Robots Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Automotive Paint Robots Market Forecasts and Analysis - By Vehicle Type
10.4.6 Middle East and Africa Automotive Paint Robots Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Automotive Paint Robots Market
10.4.6.1.1 South Africa Automotive Paint Robots Market by Type
10.4.6.1.2 South Africa Automotive Paint Robots Market by Application
10.4.6.1.3 South Africa Automotive Paint Robots Market by Vehicle Type
10.4.6.2 Saudi Arabia Automotive Paint Robots Market
10.4.6.2.1 Saudi Arabia Automotive Paint Robots Market by Type
10.4.6.2.2 Saudi Arabia Automotive Paint Robots Market by Application
10.4.6.2.3 Saudi Arabia Automotive Paint Robots Market by Vehicle Type
10.4.6.3 U.A.E Automotive Paint Robots Market
10.4.6.3.1 U.A.E Automotive Paint Robots Market by Type
10.4.6.3.2 U.A.E Automotive Paint Robots Market by Application
10.4.6.3.3 U.A.E Automotive Paint Robots Market by Vehicle Type
10.4.6.4 Rest of Middle East and Africa Automotive Paint Robots Market
10.4.6.4.1 Rest of Middle East and Africa Automotive Paint Robots Market by Type
10.4.6.4.2 Rest of Middle East and Africa Automotive Paint Robots Market by Application
10.4.6.4.3 Rest of Middle East and Africa Automotive Paint Robots Market by Vehicle Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Automotive Paint Robots Market Overview
10.5.2 South and Central America Automotive Paint Robots Market Forecasts and Analysis
10.5.3 South and Central America Automotive Paint Robots Market Forecasts and Analysis - By Type
10.5.4 South and Central America Automotive Paint Robots Market Forecasts and Analysis - By Application
10.5.5 South and Central America Automotive Paint Robots Market Forecasts and Analysis - By Vehicle Type
10.5.6 South and Central America Automotive Paint Robots Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Automotive Paint Robots Market
10.5.6.1.1 Brazil Automotive Paint Robots Market by Type
10.5.6.1.2 Brazil Automotive Paint Robots Market by Application
10.5.6.1.3 Brazil Automotive Paint Robots Market by Vehicle Type
10.5.6.2 Argentina Automotive Paint Robots Market
10.5.6.2.1 Argentina Automotive Paint Robots Market by Type
10.5.6.2.2 Argentina Automotive Paint Robots Market by Application
10.5.6.2.3 Argentina Automotive Paint Robots Market by Vehicle Type
10.5.6.3 Rest of South and Central America Automotive Paint Robots Market
10.5.6.3.1 Rest of South and Central America Automotive Paint Robots Market by Type
10.5.6.3.2 Rest of South and Central America Automotive Paint Robots Market by Application
10.5.6.3.3 Rest of South and Central America Automotive Paint Robots Market by Vehicle Type
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 PAINT ROBOTS MARKET, KEY COMPANY PROFILES
12.1. ABB
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. CMA ROBOTICS SPA
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. DURR GROUP
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. EISENMANN SE
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. FANUC
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. KAWASAKI HEAVY INDUSTRIES, LTD.
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. KUKA AG
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. SAMES KREMLIN
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. GALLAGHER-KAISER
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. YASKAWA ELECTRIC 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. ABB
2. CMA Robotics SpA
3. Durr Group
4. Eisenmann SE
5. FANUC
6. Kawasaki Heavy Industries, Ltd.
7. KUKA AG
8. Sames Kremlin
9. Gallagher-Kaiser
10. Yaskawa Electric 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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