Autonomous Driving Market Strategies and Share 2031
The autonomous driving market is expected to register a CAGR of 28.9% during 2023–2031. The growing number of developments in autonomous shared mobility is one of the major trends in the autonomous driving market.
Autonomous Driving Market Analysis
- The growing automotive production across different regions is one of the major factors supporting the market growth for autonomous vehicles worldwide. This is further generating the demand for different levels of automation in the vehicle industry.
- Further, the growing demand for driving comfort and growth in connected vehicle technologies are some of the other major factors driving the growth of the autonomous driving market.
Autonomous Driving Market Overview
- The global autonomous driving market is likely to witness significant growth in the coming years. This is mainly due to the growing production of automobiles including passenger cars and commercial vehicles and the increasing automation across such vehicles has been driving the market growth.
- Further, the growth in number of electric vehicles across different regions is another major factor likely to provide new opportunities for market vendors in the coming years. This is also propelled by the increasing awareness of reducing the carbon emissions and pollution rates from the automobile industry worldwide. Also, the growth in the adoption of automation technologies in electric vehicles is another factor supporting the growth of the autonomous driving market.
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Autonomous Driving 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.
Autonomous Driving Market: Strategic Insights
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Autonomous Driving Market Drivers and Opportunities
Growing Adoption of Self-Driving Cars
- The adoption of self-driving cars has more become popular among end users. This is mainly due to the increased deployment of technologies such as artificial intelligence (AI) and machine learning (ML) that allow the vehicle to operate under complex driving environments.
- Further, the increasing registrations of self-driving cars globally is another major factor supporting the market growth. For instance, in 2023, around 21 thousand autonomous/semi-autonomous vehicles were registered globally during 2023 compared to 17 thousand units in 2022. Such growth has been catalyzing the autonomous driving market growth worldwide.
Rising Adoption of Electric Vehicles
- The growth in adoption of electric vehicles is one of the major factors likely to provide new opportunities for market vendors of different regions in the coming years.
- The demand for different models of electric vehicles among the end users differs across various regions. For instance, according to the International Energy Agency (IEA), in 2023, the US witnessed the majority of electric SUVs demand compared to other types of vehicles. Similarly, in 2023, China witnessed a strong growth in the demand for electric SUVs and medium electric cars. Such factors have been pushing the adoption of electric vehicles across different regions which is further likely to generate new opportunities for autonomous driving market vendors in the coming years.
Autonomous Driving Market Report Segmentation Analysis
Key segments that contributed to the derivation of the autonomous driving market analysis are the level of automation, component, and application.
- Based on the level of automation, the autonomous driving market is segmented into level 1, level 2, level 3, level 4, and level 5.
- Based on components, the autonomous driving market is segmented into hardware and software.
- Based on application, the autonomous driving market is bifurcated into consumer, ride-sharing, car-sharing, and public transit.
Autonomous Driving Market Share Analysis by Geography
- Autonomous Driving 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 autonomous driving 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 autonomous driving market in these regions.
Autonomous Driving Market Report Scope
Autonomous Driving Market News and Recent Developments
The autonomous driving 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 autonomous driving market are listed below:
- Daimler Truck has the clear goal to lead the transformation to sustainable transportation and to address the challenges of tomorrow. The company is pursuing a vision of zero emissions and increased road safety by combining the two most promising technologies to deliver on that vision — battery-electric drive and integrated autonomous driving technology — in one semi-truck for the first time in its history: the autonomous Freightliner eCascadia technology demonstrator. (Source: Daimler AG, Company Website, May 2024)
- Autonomous Mobility-as-a-Service company, Zoox, today announced it completed a key milestone: deploying the world’s first purpose-built robotaxi on open public roads with passengers. Zoox conducted the first run of its employee shuttle service in Foster City, California, marking the first time in history a purpose-built autonomous robotaxi without traditional driving controls carried passengers on open public roads. (Source: ZOOX, Company Website, February 2023)
Autonomous Driving Market Report Coverage and Deliverables
The “Autonomous Driving Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Autonomous driving market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Autonomous driving market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST analysis
- Autonomous driving 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 in the autonomous driving 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 autonomous driving market is expected to grow at a CAGR of 28.9% during the forecast period 2023 - 2031.
Growing adoption of self-driving cars and increasing adoption of EVs are some of the major factors driving the autonomous driving market.
The growing number of developments in autonomous shared mobility in the coming years is one of the major future trends for the market.
The leading players operating in the autonomous driving market are Daimler AG, Baidu, General Motors, Toyota, Tesla, Honda, ZOOX, Audi AG, Ford, NVIDIA, Volkswagen AG, Denso, Hitachi Automotive, Hyundai Mobis, Valeo, Continental AG, and AISIN SEIKI.
The report can be delivered in PDF/PPT format; we can also share the Excel dataset based on the request.
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.
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 Autonomous Driving Market - By Level of Automation
1.3.2 Autonomous Driving Market - By Component
1.3.3 Autonomous Driving Market - By Application
1.3.4 Autonomous Driving Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. AUTONOMOUS DRIVING 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. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. AUTONOMOUS DRIVING 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. AUTONOMOUS DRIVING MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTONOMOUS DRIVING - GLOBAL MARKET OVERVIEW
6.2. AUTONOMOUS DRIVING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTONOMOUS DRIVING MARKET - REVENUE AND FORECASTS TO 2028 - LEVEL OF AUTOMATION
7.1. OVERVIEW
7.2. LEVEL OF AUTOMATION MARKET FORECASTS AND ANALYSIS
7.3. LEVEL 1
7.3.1. Overview
7.3.2. Level 1 Market Forecast and Analysis
7.4. LEVEL 2
7.4.1. Overview
7.4.2. Level 2 Market Forecast and Analysis
7.5. LEVEL 3
7.5.1. Overview
7.5.2. Level 3 Market Forecast and Analysis
7.6. LEVEL 4
7.6.1. Overview
7.6.2. Level 4 Market Forecast and Analysis
7.7. LEVEL 5
7.7.1. Overview
7.7.2. Level 5 Market Forecast and Analysis
8. AUTONOMOUS DRIVING MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
8.1. OVERVIEW
8.2. COMPONENT MARKET FORECASTS AND ANALYSIS
8.3. HARDWARE
8.3.1. Overview
8.3.2. Hardware Market Forecast and Analysis
8.3.3. RADAR Market
8.3.3.1. Overview
8.3.3.2. RADAR Market Forecast and Analysis
8.3.4. LiDAR Market
8.3.4.1. Overview
8.3.4.2. LiDAR Market Forecast and Analysis
8.3.5. Camera Market
8.3.5.1. Overview
8.3.5.2. Camera Market Forecast and Analysis
8.3.6. Ultrasound Market
8.3.6.1. Overview
8.3.6.2. Ultrasound Market Forecast and Analysis
8.3.7. Dead Reckoning Module Market
8.3.7.1. Overview
8.3.7.2. Dead Reckoning Module Market Forecast and Analysis
8.3.8. Others Market
8.3.8.1. Overview
8.3.8.2. Others Market Forecast and Analysis
8.4. SOFTWARE
8.4.1. Overview
8.4.2. Software Market Forecast and Analysis
8.4.3. Autonomous Driving Algorithms Market
8.4.3.1. Overview
8.4.3.2. Autonomous Driving Algorithms Market Forecast and Analysis
8.4.4. HD Mapping and Localization Market
8.4.4.1. Overview
8.4.4.2. HD Mapping and Localization Market Forecast and Analysis
8.4.5. Over the Air (OTA) Market
8.4.5.1. Overview
8.4.5.2. Over the Air (OTA) Market Forecast and Analysis
8.4.6. Artificial Intelligence Market
8.4.6.1. Overview
8.4.6.2. Artificial Intelligence Market Forecast and Analysis
9. AUTONOMOUS DRIVING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. CONSUMER
9.3.1. Overview
9.3.2. Consumer Market Forecast and Analysis
9.4. RIDE SHARING
9.4.1. Overview
9.4.2. Ride Sharing Market Forecast and Analysis
9.5. CAR SHARING
9.5.1. Overview
9.5.2. Car Sharing Market Forecast and Analysis
9.6. PUBLIC TRANSIT
9.6.1. Overview
9.6.2. Public Transit Market Forecast and Analysis
10. AUTONOMOUS DRIVING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Autonomous Driving Market Overview
10.1.2 North America Autonomous Driving Market Forecasts and Analysis
10.1.3 North America Autonomous Driving Market Forecasts and Analysis - By Level of Automation
10.1.4 North America Autonomous Driving Market Forecasts and Analysis - By Component
10.1.5 North America Autonomous Driving Market Forecasts and Analysis - By Application
10.1.6 North America Autonomous Driving Market Forecasts and Analysis - By Countries
10.1.6.1 United States Autonomous Driving Market
10.1.6.1.1 United States Autonomous Driving Market by Level of Automation
10.1.6.1.2 United States Autonomous Driving Market by Component
10.1.6.1.3 United States Autonomous Driving Market by Application
10.1.6.2 Canada Autonomous Driving Market
10.1.6.2.1 Canada Autonomous Driving Market by Level of Automation
10.1.6.2.2 Canada Autonomous Driving Market by Component
10.1.6.2.3 Canada Autonomous Driving Market by Application
10.1.6.3 Mexico Autonomous Driving Market
10.1.6.3.1 Mexico Autonomous Driving Market by Level of Automation
10.1.6.3.2 Mexico Autonomous Driving Market by Component
10.1.6.3.3 Mexico Autonomous Driving Market by Application
10.2. EUROPE
10.2.1 Europe Autonomous Driving Market Overview
10.2.2 Europe Autonomous Driving Market Forecasts and Analysis
10.2.3 Europe Autonomous Driving Market Forecasts and Analysis - By Level of Automation
10.2.4 Europe Autonomous Driving Market Forecasts and Analysis - By Component
10.2.5 Europe Autonomous Driving Market Forecasts and Analysis - By Application
10.2.6 Europe Autonomous Driving Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Autonomous Driving Market
10.2.6.1.1 Germany Autonomous Driving Market by Level of Automation
10.2.6.1.2 Germany Autonomous Driving Market by Component
10.2.6.1.3 Germany Autonomous Driving Market by Application
10.2.6.2 France Autonomous Driving Market
10.2.6.2.1 France Autonomous Driving Market by Level of Automation
10.2.6.2.2 France Autonomous Driving Market by Component
10.2.6.2.3 France Autonomous Driving Market by Application
10.2.6.3 Italy Autonomous Driving Market
10.2.6.3.1 Italy Autonomous Driving Market by Level of Automation
10.2.6.3.2 Italy Autonomous Driving Market by Component
10.2.6.3.3 Italy Autonomous Driving Market by Application
10.2.6.4 United Kingdom Autonomous Driving Market
10.2.6.4.1 United Kingdom Autonomous Driving Market by Level of Automation
10.2.6.4.2 United Kingdom Autonomous Driving Market by Component
10.2.6.4.3 United Kingdom Autonomous Driving Market by Application
10.2.6.5 Russia Autonomous Driving Market
10.2.6.5.1 Russia Autonomous Driving Market by Level of Automation
10.2.6.5.2 Russia Autonomous Driving Market by Component
10.2.6.5.3 Russia Autonomous Driving Market by Application
10.2.6.6 Rest of Europe Autonomous Driving Market
10.2.6.6.1 Rest of Europe Autonomous Driving Market by Level of Automation
10.2.6.6.2 Rest of Europe Autonomous Driving Market by Component
10.2.6.6.3 Rest of Europe Autonomous Driving Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Autonomous Driving Market Overview
10.3.2 Asia-Pacific Autonomous Driving Market Forecasts and Analysis
10.3.3 Asia-Pacific Autonomous Driving Market Forecasts and Analysis - By Level of Automation
10.3.4 Asia-Pacific Autonomous Driving Market Forecasts and Analysis - By Component
10.3.5 Asia-Pacific Autonomous Driving Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Autonomous Driving Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Autonomous Driving Market
10.3.6.1.1 Australia Autonomous Driving Market by Level of Automation
10.3.6.1.2 Australia Autonomous Driving Market by Component
10.3.6.1.3 Australia Autonomous Driving Market by Application
10.3.6.2 China Autonomous Driving Market
10.3.6.2.1 China Autonomous Driving Market by Level of Automation
10.3.6.2.2 China Autonomous Driving Market by Component
10.3.6.2.3 China Autonomous Driving Market by Application
10.3.6.3 India Autonomous Driving Market
10.3.6.3.1 India Autonomous Driving Market by Level of Automation
10.3.6.3.2 India Autonomous Driving Market by Component
10.3.6.3.3 India Autonomous Driving Market by Application
10.3.6.4 Japan Autonomous Driving Market
10.3.6.4.1 Japan Autonomous Driving Market by Level of Automation
10.3.6.4.2 Japan Autonomous Driving Market by Component
10.3.6.4.3 Japan Autonomous Driving Market by Application
10.3.6.5 South Korea Autonomous Driving Market
10.3.6.5.1 South Korea Autonomous Driving Market by Level of Automation
10.3.6.5.2 South Korea Autonomous Driving Market by Component
10.3.6.5.3 South Korea Autonomous Driving Market by Application
10.3.6.6 Rest of Asia-Pacific Autonomous Driving Market
10.3.6.6.1 Rest of Asia-Pacific Autonomous Driving Market by Level of Automation
10.3.6.6.2 Rest of Asia-Pacific Autonomous Driving Market by Component
10.3.6.6.3 Rest of Asia-Pacific Autonomous Driving Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Autonomous Driving Market Overview
10.4.2 Middle East and Africa Autonomous Driving Market Forecasts and Analysis
10.4.3 Middle East and Africa Autonomous Driving Market Forecasts and Analysis - By Level of Automation
10.4.4 Middle East and Africa Autonomous Driving Market Forecasts and Analysis - By Component
10.4.5 Middle East and Africa Autonomous Driving Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Autonomous Driving Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Autonomous Driving Market
10.4.6.1.1 South Africa Autonomous Driving Market by Level of Automation
10.4.6.1.2 South Africa Autonomous Driving Market by Component
10.4.6.1.3 South Africa Autonomous Driving Market by Application
10.4.6.2 Saudi Arabia Autonomous Driving Market
10.4.6.2.1 Saudi Arabia Autonomous Driving Market by Level of Automation
10.4.6.2.2 Saudi Arabia Autonomous Driving Market by Component
10.4.6.2.3 Saudi Arabia Autonomous Driving Market by Application
10.4.6.3 U.A.E Autonomous Driving Market
10.4.6.3.1 U.A.E Autonomous Driving Market by Level of Automation
10.4.6.3.2 U.A.E Autonomous Driving Market by Component
10.4.6.3.3 U.A.E Autonomous Driving Market by Application
10.4.6.4 Rest of Middle East and Africa Autonomous Driving Market
10.4.6.4.1 Rest of Middle East and Africa Autonomous Driving Market by Level of Automation
10.4.6.4.2 Rest of Middle East and Africa Autonomous Driving Market by Component
10.4.6.4.3 Rest of Middle East and Africa Autonomous Driving Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Autonomous Driving Market Overview
10.5.2 South and Central America Autonomous Driving Market Forecasts and Analysis
10.5.3 South and Central America Autonomous Driving Market Forecasts and Analysis - By Level of Automation
10.5.4 South and Central America Autonomous Driving Market Forecasts and Analysis - By Component
10.5.5 South and Central America Autonomous Driving Market Forecasts and Analysis - By Application
10.5.6 South and Central America Autonomous Driving Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Autonomous Driving Market
10.5.6.1.1 Brazil Autonomous Driving Market by Level of Automation
10.5.6.1.2 Brazil Autonomous Driving Market by Component
10.5.6.1.3 Brazil Autonomous Driving Market by Application
10.5.6.2 Argentina Autonomous Driving Market
10.5.6.2.1 Argentina Autonomous Driving Market by Level of Automation
10.5.6.2.2 Argentina Autonomous Driving Market by Component
10.5.6.2.3 Argentina Autonomous Driving Market by Application
10.5.6.3 Rest of South and Central America Autonomous Driving Market
10.5.6.3.1 Rest of South and Central America Autonomous Driving Market by Level of Automation
10.5.6.3.2 Rest of South and Central America Autonomous Driving Market by Component
10.5.6.3.3 Rest of South and Central America Autonomous Driving 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. AUTONOMOUS DRIVING 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. DAIMLER AG
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. FORD MOTOR COMPANY
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. GENERAL MOTORS COMPANY
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. INTEL 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. NVIDIA 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. TESLA, INC.
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. TOYOTA MOTOR CORPORATION
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. VOLVO CAR CORPORATION
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. VOLKSWAGEN GROUP
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
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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