Cloud Discovery Market Overview and Forecast by 2031
The Cloud Discovery Market is expected to expand at a CAGR of 19.1% from 2023 to 2031. Growing adoption of multi-cloud environments is likely to be a key trend in the market
Cloud Discovery Market Analysis
- Cloud discovery is critical for enterprises seeking to maintain control over their cloud infrastructures, reduce costs, improve security, and assure compliance.
- As more organizations move sensitive data to the cloud, there is a greater need to determine what types of data are in various cloud storage models, track data in all cloud environments, and control data protection across every cloud installation.
- Emerging technologies and services can help enterprises discover, organize, and track data in the cloud. For example, Artificial Intelligence (AI) and Machine Learning (ML) algorithms are being integrated into cloud discovery solutions to improve automation, intelligence, and predictive capabilities.
Cloud Discovery Market Overview
- Cloud discovery is the act of finding and categorizing all cloud-based resources, services, and applications in an organization's IT architecture.
- Cloud discovery features such as data sharing through file feeds, high-quality online services, and a single sign-on connection across the network are driving the adoption of cloud computing technology among many industry sectors.
- Further, advanced technologies such as AI and ML allow for more accurate identification of cloud assets, real-time monitoring of cloud environments, and proactive threat detection. All these factors are expected to boost the growth of the cloud discovery market during the forecast period.
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Cloud Discovery 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.
Cloud Discovery Market: Strategic Insights
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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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Cloud Discovery Market Drivers and Opportunities
Increasing Need to Manage Security of the IT Infrastructure
- Implementing a strong infrastructure protection strategy is critical in today's threat-laden digital ecosystem. IT infrastructure services can assist firms in implementing advanced security methods, such as secure network architectures, intrusion detection systems, and strict access control mechanisms.
- Businesses that shift their operations to the cloud confront severe regulatory constraints and rising cybersecurity threats. GDPR and other compliance regulations require stringent data protection procedures, making it critical for enterprises to maintain the security and integrity of cloud environments.
- Thus, the demand for the cloud discovery market to cater to the need for security and compliance is expected to grow during the forecast period.
Increasing Adoption of Cloud Discovery Services Among SMEs
- Since its inception, cloud computing adoption has increased at a rapid pace. Adoption is motivated by a variety of factors, including cost savings, increased scalability, better resource usage, worker mobility and cooperation, and business continuity.
- Cloud computing is a well-known revolutionary technology that has influenced a variety of companies, including small and medium-sized enterprises. Industrialists and technocrats worldwide are frequently debating this topic to stay competitive.
- For SMEs, the cloud provides a better and leaner IT solution that reduces costs and increases productivity. The cloud provides numerous clear benefits to SMEs, like increased data protection, reduced downtime, flexible storage, CRM administration, resource efficiency, and remote computing.
Cloud Discovery Market Report Segmentation Analysis
The key segments that contributed to the derivation of the Cloud Discovery market analysis are component, enterprise size, and industry vertical.
- On the basis of components, the market is segmented into solutions and services.
- On the basis of enterprise size, the market is divided into large enterprises and small & medium enterprises.
- Based on industry vertical, the market is divided into IT & telecommunication, BFSI, retail, industrial, healthcare, and others.
Cloud Discovery Market Share Analysis By Geography
Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.
- Cloud Discovery 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 Cloud Discovery 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 Cloud Discovery market in these regions.
Cloud Discovery Market Report Scope
Cloud Discovery Market News and Recent Developments
The cloud discovery 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 cloud discovery market are listed below:
- BMC, a global leader in software solutions for the Autonomous Digital Enterprise, announced that the BMC Helix ITSM solution has been granted Provisional Authorization for Impact Level 5 (IL-5) from the Defense Information Systems Agency (DISA). The DISA Impact Level Provisional Authorization process allows the Department of Defense (DoD) to certify cloud SaaS offerings that meet security requirements mandated by the sensitivity of the information. DISA IL-5 authorization for the BMC Helix ITSM solution in the Amazon Web Services (AWS) GovCloud verifies the platform meets stringent U.S. DoD security requirements for items in the Controlled Unclassified Information (CUI) category. (Source: BMC, Newsroom, April 2023)
Cloud Discovery Market Report Coverage & Deliverables
The Cloud Discovery market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Cloud Discovery Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-
- Cloud Discovery market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Cloud Discovery market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Cloud Discovery 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 Cloud Discovery 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 the request are 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.
The growing adoption of multi-cloud environments is a key trend in the market.
The report can be delivered in PDF/PPT format; we can also share an Excel dataset based on the request.
BMC Software, Inc., Cisco Systems, Inc., iQuate, McAfee, LLC, Nephos Technologies, Netskope, Inc., Qualys, Inc., ScienceLogic, ServiceNow, Inc. and Zscaler, Inc. are the major market players.
The global Cloud Discovery market is estimated to grow at a CAGR of 19.1% during 2023 - 2031.
The increasing need to manage the security of the IT infrastructure and the increasing need for compliance and security are the major factors that drive the global Cloud Discovery market.
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 Cloud Discovery Market - By Component
1.3.2 Cloud Discovery Market - By Enterprise Size
1.3.3 Cloud Discovery Market - By Industry Vertical
1.3.4 Cloud Discovery Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. CLOUD DISCOVERY 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. CLOUD DISCOVERY 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. CLOUD DISCOVERY MARKET - GLOBAL MARKET ANALYSIS
6.1. CLOUD DISCOVERY - GLOBAL MARKET OVERVIEW
6.2. CLOUD DISCOVERY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. CLOUD DISCOVERY MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. SOLUTION
7.3.1. Overview
7.3.2. Solution Market Forecast and Analysis
7.4. SERVICES
7.4.1. Overview
7.4.2. Services Market Forecast and Analysis
8. CLOUD DISCOVERY MARKET - REVENUE AND FORECASTS TO 2028 - ENTERPRISE SIZE
8.1. OVERVIEW
8.2. ENTERPRISE SIZE MARKET FORECASTS AND ANALYSIS
8.3. LARGE ENTERPRISES
8.3.1. Overview
8.3.2. Large Enterprises Market Forecast and Analysis
8.4. SMES
8.4.1. Overview
8.4.2. SMEs Market Forecast and Analysis
9. CLOUD DISCOVERY MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY VERTICAL
9.1. OVERVIEW
9.2. INDUSTRY VERTICAL MARKET FORECASTS AND ANALYSIS
9.3. BFSI
9.3.1. Overview
9.3.2. BFSI Market Forecast and Analysis
9.4. IT AND TELECOM
9.4.1. Overview
9.4.2. IT and Telecom Market Forecast and Analysis
9.5. RETAIL AND CONSUMER GOODS
9.5.1. Overview
9.5.2. Retail and Consumer goods Market Forecast and Analysis
9.6. TRANSPORTATION AND LOGISTICS
9.6.1. Overview
9.6.2. Transportation and Logistics Market Forecast and Analysis
9.7. HEALTHCARE
9.7.1. Overview
9.7.2. Healthcare Market Forecast and Analysis
9.8. GOVERNMENT
9.8.1. Overview
9.8.2. Government Market Forecast and Analysis
9.9. MANUFACTURING
9.9.1. Overview
9.9.2. Manufacturing Market Forecast and Analysis
9.10. OTHERS
9.10.1. Overview
9.10.2. Others Market Forecast and Analysis
10. CLOUD DISCOVERY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Cloud Discovery Market Overview
10.1.2 North America Cloud Discovery Market Forecasts and Analysis
10.1.3 North America Cloud Discovery Market Forecasts and Analysis - By Component
10.1.4 North America Cloud Discovery Market Forecasts and Analysis - By Enterprise Size
10.1.5 North America Cloud Discovery Market Forecasts and Analysis - By Industry Vertical
10.1.6 North America Cloud Discovery Market Forecasts and Analysis - By Countries
10.1.6.1 United States Cloud Discovery Market
10.1.6.1.1 United States Cloud Discovery Market by Component
10.1.6.1.2 United States Cloud Discovery Market by Enterprise Size
10.1.6.1.3 United States Cloud Discovery Market by Industry Vertical
10.1.6.2 Canada Cloud Discovery Market
10.1.6.2.1 Canada Cloud Discovery Market by Component
10.1.6.2.2 Canada Cloud Discovery Market by Enterprise Size
10.1.6.2.3 Canada Cloud Discovery Market by Industry Vertical
10.1.6.3 Mexico Cloud Discovery Market
10.1.6.3.1 Mexico Cloud Discovery Market by Component
10.1.6.3.2 Mexico Cloud Discovery Market by Enterprise Size
10.1.6.3.3 Mexico Cloud Discovery Market by Industry Vertical
10.2. EUROPE
10.2.1 Europe Cloud Discovery Market Overview
10.2.2 Europe Cloud Discovery Market Forecasts and Analysis
10.2.3 Europe Cloud Discovery Market Forecasts and Analysis - By Component
10.2.4 Europe Cloud Discovery Market Forecasts and Analysis - By Enterprise Size
10.2.5 Europe Cloud Discovery Market Forecasts and Analysis - By Industry Vertical
10.2.6 Europe Cloud Discovery Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Cloud Discovery Market
10.2.6.1.1 Germany Cloud Discovery Market by Component
10.2.6.1.2 Germany Cloud Discovery Market by Enterprise Size
10.2.6.1.3 Germany Cloud Discovery Market by Industry Vertical
10.2.6.2 France Cloud Discovery Market
10.2.6.2.1 France Cloud Discovery Market by Component
10.2.6.2.2 France Cloud Discovery Market by Enterprise Size
10.2.6.2.3 France Cloud Discovery Market by Industry Vertical
10.2.6.3 Italy Cloud Discovery Market
10.2.6.3.1 Italy Cloud Discovery Market by Component
10.2.6.3.2 Italy Cloud Discovery Market by Enterprise Size
10.2.6.3.3 Italy Cloud Discovery Market by Industry Vertical
10.2.6.4 United Kingdom Cloud Discovery Market
10.2.6.4.1 United Kingdom Cloud Discovery Market by Component
10.2.6.4.2 United Kingdom Cloud Discovery Market by Enterprise Size
10.2.6.4.3 United Kingdom Cloud Discovery Market by Industry Vertical
10.2.6.5 Russia Cloud Discovery Market
10.2.6.5.1 Russia Cloud Discovery Market by Component
10.2.6.5.2 Russia Cloud Discovery Market by Enterprise Size
10.2.6.5.3 Russia Cloud Discovery Market by Industry Vertical
10.2.6.6 Rest of Europe Cloud Discovery Market
10.2.6.6.1 Rest of Europe Cloud Discovery Market by Component
10.2.6.6.2 Rest of Europe Cloud Discovery Market by Enterprise Size
10.2.6.6.3 Rest of Europe Cloud Discovery Market by Industry Vertical
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Cloud Discovery Market Overview
10.3.2 Asia-Pacific Cloud Discovery Market Forecasts and Analysis
10.3.3 Asia-Pacific Cloud Discovery Market Forecasts and Analysis - By Component
10.3.4 Asia-Pacific Cloud Discovery Market Forecasts and Analysis - By Enterprise Size
10.3.5 Asia-Pacific Cloud Discovery Market Forecasts and Analysis - By Industry Vertical
10.3.6 Asia-Pacific Cloud Discovery Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Cloud Discovery Market
10.3.6.1.1 Australia Cloud Discovery Market by Component
10.3.6.1.2 Australia Cloud Discovery Market by Enterprise Size
10.3.6.1.3 Australia Cloud Discovery Market by Industry Vertical
10.3.6.2 China Cloud Discovery Market
10.3.6.2.1 China Cloud Discovery Market by Component
10.3.6.2.2 China Cloud Discovery Market by Enterprise Size
10.3.6.2.3 China Cloud Discovery Market by Industry Vertical
10.3.6.3 India Cloud Discovery Market
10.3.6.3.1 India Cloud Discovery Market by Component
10.3.6.3.2 India Cloud Discovery Market by Enterprise Size
10.3.6.3.3 India Cloud Discovery Market by Industry Vertical
10.3.6.4 Japan Cloud Discovery Market
10.3.6.4.1 Japan Cloud Discovery Market by Component
10.3.6.4.2 Japan Cloud Discovery Market by Enterprise Size
10.3.6.4.3 Japan Cloud Discovery Market by Industry Vertical
10.3.6.5 South Korea Cloud Discovery Market
10.3.6.5.1 South Korea Cloud Discovery Market by Component
10.3.6.5.2 South Korea Cloud Discovery Market by Enterprise Size
10.3.6.5.3 South Korea Cloud Discovery Market by Industry Vertical
10.3.6.6 Rest of Asia-Pacific Cloud Discovery Market
10.3.6.6.1 Rest of Asia-Pacific Cloud Discovery Market by Component
10.3.6.6.2 Rest of Asia-Pacific Cloud Discovery Market by Enterprise Size
10.3.6.6.3 Rest of Asia-Pacific Cloud Discovery Market by Industry Vertical
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Cloud Discovery Market Overview
10.4.2 Middle East and Africa Cloud Discovery Market Forecasts and Analysis
10.4.3 Middle East and Africa Cloud Discovery Market Forecasts and Analysis - By Component
10.4.4 Middle East and Africa Cloud Discovery Market Forecasts and Analysis - By Enterprise Size
10.4.5 Middle East and Africa Cloud Discovery Market Forecasts and Analysis - By Industry Vertical
10.4.6 Middle East and Africa Cloud Discovery Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Cloud Discovery Market
10.4.6.1.1 South Africa Cloud Discovery Market by Component
10.4.6.1.2 South Africa Cloud Discovery Market by Enterprise Size
10.4.6.1.3 South Africa Cloud Discovery Market by Industry Vertical
10.4.6.2 Saudi Arabia Cloud Discovery Market
10.4.6.2.1 Saudi Arabia Cloud Discovery Market by Component
10.4.6.2.2 Saudi Arabia Cloud Discovery Market by Enterprise Size
10.4.6.2.3 Saudi Arabia Cloud Discovery Market by Industry Vertical
10.4.6.3 U.A.E Cloud Discovery Market
10.4.6.3.1 U.A.E Cloud Discovery Market by Component
10.4.6.3.2 U.A.E Cloud Discovery Market by Enterprise Size
10.4.6.3.3 U.A.E Cloud Discovery Market by Industry Vertical
10.4.6.4 Rest of Middle East and Africa Cloud Discovery Market
10.4.6.4.1 Rest of Middle East and Africa Cloud Discovery Market by Component
10.4.6.4.2 Rest of Middle East and Africa Cloud Discovery Market by Enterprise Size
10.4.6.4.3 Rest of Middle East and Africa Cloud Discovery Market by Industry Vertical
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Cloud Discovery Market Overview
10.5.2 South and Central America Cloud Discovery Market Forecasts and Analysis
10.5.3 South and Central America Cloud Discovery Market Forecasts and Analysis - By Component
10.5.4 South and Central America Cloud Discovery Market Forecasts and Analysis - By Enterprise Size
10.5.5 South and Central America Cloud Discovery Market Forecasts and Analysis - By Industry Vertical
10.5.6 South and Central America Cloud Discovery Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Cloud Discovery Market
10.5.6.1.1 Brazil Cloud Discovery Market by Component
10.5.6.1.2 Brazil Cloud Discovery Market by Enterprise Size
10.5.6.1.3 Brazil Cloud Discovery Market by Industry Vertical
10.5.6.2 Argentina Cloud Discovery Market
10.5.6.2.1 Argentina Cloud Discovery Market by Component
10.5.6.2.2 Argentina Cloud Discovery Market by Enterprise Size
10.5.6.2.3 Argentina Cloud Discovery Market by Industry Vertical
10.5.6.3 Rest of South and Central America Cloud Discovery Market
10.5.6.3.1 Rest of South and Central America Cloud Discovery Market by Component
10.5.6.3.2 Rest of South and Central America Cloud Discovery Market by Enterprise Size
10.5.6.3.3 Rest of South and Central America Cloud Discovery Market by Industry Vertical
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. CLOUD DISCOVERY MARKET, KEY COMPANY PROFILES
12.1. BMC SOFTWARE, INC.
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. CISCO SYSTEMS, INC.
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. IQUATE
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. MCAFEE, LLC
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. NEPHOS TECHNOLOGIES
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. NETSKOPE, INC.
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. QUALYS, 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. SCIENCELOGIC
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. SERVICENOW, INC.
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. ZSCALER, INC.
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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