Computed Tomography Scan Market Growth Report 2021 to 2031
The Computed Tomography Scan Market is expected to register a CAGR of 5.9% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented By Technology (High-end Slice CT Scanner, Mid-end Slice CT Scanner, Low-end Slice CT Scanner); Application (Oncology, Cardiology, Vascular, Neurology, Others); End User (Hospital, Clinics, Diagnostic Imaging Centers, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Computed Tomography Scan Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Computed Tomography Scan Market Segmentation
Technology- High-end Slice CT Scanner
- Mid-end Slice CT Scanner
- Low-end Slice CT Scanner
- Oncology
- Cardiology
- Vascular
- Neurology
- Others
- Hospital
- Clinics
- Diagnostic Imaging Centers
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Computed Tomography Scan Market Growth Drivers- Technological Advances: Rapid advancements in CT technology are primarily contributing to robust growth in the market. Recent innovations such as multi-slice CT scanners, lowering the radiation doses, and image quality bettering ensure higher diagnostics with enhanced patient safety. They help patients detect diseases early on, while the availability of advanced medical diagnostic tools-CT scans-paves the way for using them in plenty of other disciplines like oncology and cardiology.
- Rising Incidence of Chronic Diseases: The rising incidence of chronic diseases, particularly cancer and cardiovascular disorders, will act as an impulse to the demand for CT scans. Such diseases will require fast, acute, and precise images to confirm diagnoses and monitor their progression, which increases reliance on CT scans by healthcare providers. Moreover, an aging population associated with such diseases will further amplify the need for advanced diagnostic imaging solutions.
- Increased Knowledge and Availability of Healthcare: Increased awareness about the need for early disease diagnosis and the rising availability of healthcare is driving the computed tomography scan market. Patients and healthcare professionals are increasingly recognizing the value of CT scans in carrying out a comprehensive health checkup. More so, the increasing number of healthcare facilities and insurance plans in developing regions makes these diagnostic tools more accessible to a broader population, thereby contributing to the growth of the market.
- Integration of artificial intelligence in CT scans: the most drastic trend transforming the market, so to say, is increased adoption of artificial intelligence by computed tomography. Artificial intelligence algorithms are developed to enhance image analysis, hence speeding and improving the accuracy of diagnoses. AI algorithms can automate routine work, thereby minimizing the workload burden on radiologists and making workflow efficient. Such technological synergy would raise not only the diagnostic capacity but also the confidence level of health professionals with CT scanning.
- Point-of-Care Imaging: An increase in the number of CT scans is increasingly being performed closer to the patient's bedside, like within an emergency department or outpatient clinics. This increases the patient's convenience and decreases waiting times for critical imaging services. With growth in healthcare systems and a focus on immediate access to diagnostic tools, there is increased demand for compact and portable CT systems, and for this factor alone, the market could merely expand.
- Focus on Radiation Dose Reduction: There were several concerns or awareness about the dangers of ionizing radiation that motivated a group of people to exercise and design and develop technologies for CTs in such a way that may decrease the doses of radiation exposure. Now, manufacturers focus on producing advanced imaging techniques and software that optimize scan protocols without hindering the quality of images. This dose reduction shift in radiation is being achieved in ways reflective of safety concerns and compatible with requirements at the regulatory end, hence making CT scans even more appealing to patients and health care providers alike.
- Growth in Emerging Markets: The growth prospects for CT scanners are enormous in emerging markets. Healthcare infrastructures have been set up at breakneck speeds over the last few years. The growth of such markets will continue to invest in modern medical technology, and so, there's a considerable surge in the demand for high-end solutions in imaging, including CT scans. This growth emanates from enhanced healthcare penetration, increasing disposable incomes, and a greater focus on early diagnoses of diseases, hence making the environment more conducive for the manufacturers.
- Integration of advanced imaging techniques: The future opportunity to integrate advanced imaging techniques, ranging from the integration of CT with PET to make PET/CT systems, will enhance the diagnostic capabilities, especially with comprehensive insights into diseases-anatomical and functional aspects. The trend will be in consonance with health-care providers looking for more efficient diagnostic tools, thereby increasing demand for such integrated systems, which will positively promote the CT scan market.
- Telemedicine and Remote Diagnostics: Telemedicine and remote diagnostics indeed open a new spectrum for the CT scan market. While the adoption of telehealth solutions is on a rise for healthcare systems, the demand for remote capabilities of CT scans increases proportionally. This, in turn, has made imaging services available to far-flung or rural areas and hastened consultation and diagnosis, thus giving more thrust to portable and user-friendly technologies of the CTs.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Computed Tomography Scan Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Computed Tomography Scan Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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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
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to country scope.
Frequently Asked Questions
The final report will duly include market size and projection estimates for all the segments from 2021 to 2031, along with a revenue share and compound annual growth rate (%) for the regional
/
country-wise market wherein 2021-2022 are the historic years, 2023 is considered to be the base year, and the forecast will be provided till 2031, along with CAGR (%)
The market is expected to grow at a CAGR of 5.9%
The North America region accounts for highest revenue share Computed Tomography Scan Market?
GE Healthcare, Siemens Healthcare, Philips Healthcare, Toshiba Medical Systems Corporation, Hitachi Medical Corporation are the major companies operating in the Computed Tomography Scan Market
Asia Pacific is estimated to grow at the highest CAGR over the forecast year (2023 - 2031)
Technological Advances is the major factors boosting the Computed Tomography Scan Market growth
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Computed Tomography Scan Market - By Technology
1.3.2 Computed Tomography Scan Market - By Application
1.3.3 Computed Tomography Scan Market - By End User
1.3.4 Computed Tomography Scan Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. COMPUTED TOMOGRAPHY SCAN 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. EXPERT OPINIONS
5. COMPUTED TOMOGRAPHY SCAN 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. COMPUTED TOMOGRAPHY SCAN MARKET - GLOBAL MARKET ANALYSIS
6.1. COMPUTED TOMOGRAPHY SCAN - GLOBAL MARKET OVERVIEW
6.2. COMPUTED TOMOGRAPHY SCAN - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. COMPUTED TOMOGRAPHY SCAN MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
7.1. OVERVIEW
7.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. HIGH-END SLICE CT SCANNER
7.3.1. Overview
7.3.2. High-end Slice CT Scanner Market Forecast and Analysis
7.4. MID-END SLICE CT SCANNER
7.4.1. Overview
7.4.2. Mid-end Slice CT Scanner Market Forecast and Analysis
7.5. LOW-END SLICE CT SCANNER
7.5.1. Overview
7.5.2. Low-end Slice CT Scanner Market Forecast and Analysis
8. COMPUTED TOMOGRAPHY SCAN MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ONCOLOGY
8.3.1. Overview
8.3.2. Oncology Market Forecast and Analysis
8.4. CARDIOLOGY
8.4.1. Overview
8.4.2. Cardiology Market Forecast and Analysis
8.5. VASCULAR
8.5.1. Overview
8.5.2. Vascular Market Forecast and Analysis
8.6. NEUROLOGY
8.6.1. Overview
8.6.2. Neurology Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. COMPUTED TOMOGRAPHY SCAN MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITAL
9.3.1. Overview
9.3.2. Hospital Market Forecast and Analysis
9.4. CLINICS
9.4.1. Overview
9.4.2. Clinics Market Forecast and Analysis
9.5. DIAGNOSTIC IMAGING CENTERS
9.5.1. Overview
9.5.2. Diagnostic Imaging Centers Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. COMPUTED TOMOGRAPHY SCAN MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Computed Tomography Scan Market Overview
10.1.2 North America Computed Tomography Scan Market Forecasts and Analysis
10.1.3 North America Computed Tomography Scan Market Forecasts and Analysis - By Technology
10.1.4 North America Computed Tomography Scan Market Forecasts and Analysis - By Application
10.1.5 North America Computed Tomography Scan Market Forecasts and Analysis - By End User
10.1.6 North America Computed Tomography Scan Market Forecasts and Analysis - By Countries
10.1.6.1 United States Computed Tomography Scan Market
10.1.6.1.1 United States Computed Tomography Scan Market by Technology
10.1.6.1.2 United States Computed Tomography Scan Market by Application
10.1.6.1.3 United States Computed Tomography Scan Market by End User
10.1.6.2 Canada Computed Tomography Scan Market
10.1.6.2.1 Canada Computed Tomography Scan Market by Technology
10.1.6.2.2 Canada Computed Tomography Scan Market by Application
10.1.6.2.3 Canada Computed Tomography Scan Market by End User
10.1.6.3 Mexico Computed Tomography Scan Market
10.1.6.3.1 Mexico Computed Tomography Scan Market by Technology
10.1.6.3.2 Mexico Computed Tomography Scan Market by Application
10.1.6.3.3 Mexico Computed Tomography Scan Market by End User
10.2. EUROPE
10.2.1 Europe Computed Tomography Scan Market Overview
10.2.2 Europe Computed Tomography Scan Market Forecasts and Analysis
10.2.3 Europe Computed Tomography Scan Market Forecasts and Analysis - By Technology
10.2.4 Europe Computed Tomography Scan Market Forecasts and Analysis - By Application
10.2.5 Europe Computed Tomography Scan Market Forecasts and Analysis - By End User
10.2.6 Europe Computed Tomography Scan Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Computed Tomography Scan Market
10.2.6.1.1 Germany Computed Tomography Scan Market by Technology
10.2.6.1.2 Germany Computed Tomography Scan Market by Application
10.2.6.1.3 Germany Computed Tomography Scan Market by End User
10.2.6.2 France Computed Tomography Scan Market
10.2.6.2.1 France Computed Tomography Scan Market by Technology
10.2.6.2.2 France Computed Tomography Scan Market by Application
10.2.6.2.3 France Computed Tomography Scan Market by End User
10.2.6.3 Italy Computed Tomography Scan Market
10.2.6.3.1 Italy Computed Tomography Scan Market by Technology
10.2.6.3.2 Italy Computed Tomography Scan Market by Application
10.2.6.3.3 Italy Computed Tomography Scan Market by End User
10.2.6.4 Spain Computed Tomography Scan Market
10.2.6.4.1 Spain Computed Tomography Scan Market by Technology
10.2.6.4.2 Spain Computed Tomography Scan Market by Application
10.2.6.4.3 Spain Computed Tomography Scan Market by End User
10.2.6.5 United Kingdom Computed Tomography Scan Market
10.2.6.5.1 United Kingdom Computed Tomography Scan Market by Technology
10.2.6.5.2 United Kingdom Computed Tomography Scan Market by Application
10.2.6.5.3 United Kingdom Computed Tomography Scan Market by End User
10.2.6.6 Rest of Europe Computed Tomography Scan Market
10.2.6.6.1 Rest of Europe Computed Tomography Scan Market by Technology
10.2.6.6.2 Rest of Europe Computed Tomography Scan Market by Application
10.2.6.6.3 Rest of Europe Computed Tomography Scan Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Computed Tomography Scan Market Overview
10.3.2 Asia-Pacific Computed Tomography Scan Market Forecasts and Analysis
10.3.3 Asia-Pacific Computed Tomography Scan Market Forecasts and Analysis - By Technology
10.3.4 Asia-Pacific Computed Tomography Scan Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Computed Tomography Scan Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Computed Tomography Scan Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Computed Tomography Scan Market
10.3.6.1.1 Australia Computed Tomography Scan Market by Technology
10.3.6.1.2 Australia Computed Tomography Scan Market by Application
10.3.6.1.3 Australia Computed Tomography Scan Market by End User
10.3.6.2 China Computed Tomography Scan Market
10.3.6.2.1 China Computed Tomography Scan Market by Technology
10.3.6.2.2 China Computed Tomography Scan Market by Application
10.3.6.2.3 China Computed Tomography Scan Market by End User
10.3.6.3 India Computed Tomography Scan Market
10.3.6.3.1 India Computed Tomography Scan Market by Technology
10.3.6.3.2 India Computed Tomography Scan Market by Application
10.3.6.3.3 India Computed Tomography Scan Market by End User
10.3.6.4 Japan Computed Tomography Scan Market
10.3.6.4.1 Japan Computed Tomography Scan Market by Technology
10.3.6.4.2 Japan Computed Tomography Scan Market by Application
10.3.6.4.3 Japan Computed Tomography Scan Market by End User
10.3.6.5 South Korea Computed Tomography Scan Market
10.3.6.5.1 South Korea Computed Tomography Scan Market by Technology
10.3.6.5.2 South Korea Computed Tomography Scan Market by Application
10.3.6.5.3 South Korea Computed Tomography Scan Market by End User
10.3.6.6 Rest of Asia-Pacific Computed Tomography Scan Market
10.3.6.6.1 Rest of Asia-Pacific Computed Tomography Scan Market by Technology
10.3.6.6.2 Rest of Asia-Pacific Computed Tomography Scan Market by Application
10.3.6.6.3 Rest of Asia-Pacific Computed Tomography Scan Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Computed Tomography Scan Market Overview
10.4.2 Middle East and Africa Computed Tomography Scan Market Forecasts and Analysis
10.4.3 Middle East and Africa Computed Tomography Scan Market Forecasts and Analysis - By Technology
10.4.4 Middle East and Africa Computed Tomography Scan Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Computed Tomography Scan Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Computed Tomography Scan Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Computed Tomography Scan Market
10.4.6.1.1 South Africa Computed Tomography Scan Market by Technology
10.4.6.1.2 South Africa Computed Tomography Scan Market by Application
10.4.6.1.3 South Africa Computed Tomography Scan Market by End User
10.4.6.2 Saudi Arabia Computed Tomography Scan Market
10.4.6.2.1 Saudi Arabia Computed Tomography Scan Market by Technology
10.4.6.2.2 Saudi Arabia Computed Tomography Scan Market by Application
10.4.6.2.3 Saudi Arabia Computed Tomography Scan Market by End User
10.4.6.3 U.A.E Computed Tomography Scan Market
10.4.6.3.1 U.A.E Computed Tomography Scan Market by Technology
10.4.6.3.2 U.A.E Computed Tomography Scan Market by Application
10.4.6.3.3 U.A.E Computed Tomography Scan Market by End User
10.4.6.4 Rest of Middle East and Africa Computed Tomography Scan Market
10.4.6.4.1 Rest of Middle East and Africa Computed Tomography Scan Market by Technology
10.4.6.4.2 Rest of Middle East and Africa Computed Tomography Scan Market by Application
10.4.6.4.3 Rest of Middle East and Africa Computed Tomography Scan Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Computed Tomography Scan Market Overview
10.5.2 South and Central America Computed Tomography Scan Market Forecasts and Analysis
10.5.3 South and Central America Computed Tomography Scan Market Forecasts and Analysis - By Technology
10.5.4 South and Central America Computed Tomography Scan Market Forecasts and Analysis - By Application
10.5.5 South and Central America Computed Tomography Scan Market Forecasts and Analysis - By End User
10.5.6 South and Central America Computed Tomography Scan Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Computed Tomography Scan Market
10.5.6.1.1 Brazil Computed Tomography Scan Market by Technology
10.5.6.1.2 Brazil Computed Tomography Scan Market by Application
10.5.6.1.3 Brazil Computed Tomography Scan Market by End User
10.5.6.2 Argentina Computed Tomography Scan Market
10.5.6.2.1 Argentina Computed Tomography Scan Market by Technology
10.5.6.2.2 Argentina Computed Tomography Scan Market by Application
10.5.6.2.3 Argentina Computed Tomography Scan Market by End User
10.5.6.3 Rest of South and Central America Computed Tomography Scan Market
10.5.6.3.1 Rest of South and Central America Computed Tomography Scan Market by Technology
10.5.6.3.2 Rest of South and Central America Computed Tomography Scan Market by Application
10.5.6.3.3 Rest of South and Central America Computed Tomography Scan Market by End User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL COMPUTED TOMOGRAPHY SCAN MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. COMPUTED TOMOGRAPHY SCAN MARKET, KEY COMPANY PROFILES
13.1. GE HEALTHCARE
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. SIEMENS HEALTHCARE
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. PHILIPS HEALTHCARE
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. TOSHIBA MEDICAL SYSTEMS CORPORATION
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. HITACHI MEDICAL CORPORATION
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. NEUROLOGICA CORPORATION (A SUBSIDIARY OF SAMSUNG)
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. NEUSOFT MEDICAL SYSTEMS. (CHINA)
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. MEDTRONIC (IRELAND)
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. SHENZHEN (HONG KONG)
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. ACCURAY
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. GE Healthcare
2. Siemens Healthcare
3. Philips Healthcare
4. Toshiba Medical Systems Corporation
5. Hitachi Medical Corporation
6. NeuroLogica Corporation (a subsidiary of Samsung)
7. Neusoft Medical Systems. (China)
8. Medtronic (Ireland)
9. Shenzhen (Hong Kong)
10. Accuray
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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