Edge Analytics Market Scope and Size by 2031
The edge analytics market is expected to register a CAGR of 24.9% during 2023–2031. Technological advancement is likely to remain a key trend in the market.
Edge Analytics Market Analysis
- The edge analytics market includes growth prospects owing to the current market trends and their foreseeable impact during the forecast period.
- The edge analytics market is growing owing to factors such as the surge in the growth of IoT devices, increased demand for cloud computing, and increasing adoption of edge computing.
- Government initiatives supporting information and communication technology and rising smart city projects provide lucrative opportunities for the edge analytics market.
Edge Analytics Market Overview
- Edge analytics is the process of analyzing data and finding solutions at the edge, where data is collected via smart devices and IoT sensors
- Edge analytics gives organizations a competitive edge by enabling them to process and analyze data locally rather than in data centers.
- With the help of edge analytics, businesses can leverage real-time data to improve customer experiences, boost operational efficiency, and make decisions more quickly, giving them a competitive edge in their respective industries.
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Edge Analytics 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.
Edge Analytics Market: Strategic Insights
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Edge Analytics Market Drivers and Opportunities
Surge In The Growth Of IoT Devices to Favor Market
- Recently, there has been a huge surge in the adoption of IoT technologies due to advancements in mobile technology and wireless connectivity and a continued drop in the cost of sensors and other components.
- Several industries are using IoT technologies to improve efficiency and reduce costs. For instance, according to Finance Online, there were approximately 14.76 billion connected IoT devices as of November 2023 and this figure is expected to grow approximately 25.44 billion by 2031.
- Similarly, according to a forecast by IoT Analytics, 75% of all devices will be IoT by 2031. Furthermore, FinleyUSA estimated that worldwide IoT spending would rise to US$ 1.1 trillion in 2023
- IoT deployments are strengthened by edge analytics, which offers faster reaction times, better performance, more security, optimum bandwidth usage, offline operating capabilities, and real-time insights, which contribute to more efficient and effective utilization of IoT data.
Rising Smart City Projects
- With the ongoing trend of urbanization, various governments are taking initiatives to develop smart cities in their respective economies.
- For instance, in June 2024, the German government published a plan to help cities and communities across the country adopt smart city technologies. The plan includes the establishment of a competence center and a marketplace for smart city applications.
- In 2021, under the smart city initiative in Singapore, the government announced to build of 42,000 homes connected to a single central air conditioning unit.
- Smart cities use IoT technology to enhance urban living, improve services, and promote sustainability
- Edge analytics ensures that devices and systems communicate efficiently, enhancing the overall connectivity paradigm of a smart city.
Edge Analytics Market Report Segmentation Analysis
Key segments that contributed to the derivation of the edge analytics market analysis are component, type, organization size, and end-use industry.
- By component, the market is bifurcated into solutions and services.
- By type, the market is bifurcated into descriptive analytics, diagnostic analytics, predictive analytics, and prescriptive analytics.
- By organization size, the market is bifurcated into small enterprises, medium enterprises, and large enterprises.
- By end-use industry, the market is bifurcated into IT & telecom, BFSI, manufacturing, healthcare and life science, retail, government, and others.
Edge Analytics Market Share Analysis by Geography
- Edge analytics 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 edge analytics 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 edge analytics market in these regions.
Edge Analytics Market Report Scope
Edge Analytics Market News and Recent Developments
The edge analytics 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 edge analytics market are listed below:
- C5i announces acquisition of Analytic Edge to strengthen integrated analytics & AI capabilities. The acquisition supports a joint vision to be a global leader in Analytics & AI solutions in the end-to-end business value chain, including marketing, customer, omnichannel, and supply chain. Clients of both companies will benefit from combined superior end-to-end capabilities, including domain-oriented consulting, data engineering, data science, advanced analytics, cloud orchestration, generative AI, and other AI technologies. (C5i, Press Release, July 2024)
- NTT DATA, a global leader in IT infrastructure and services, and Schneider Electric, a pioneer in digital transformation for energy management and automation, have unveiled a first-of-a-kind co-innovation that empowers enterprises to harness the power of edge computing. The strategic partnership introduces a unique solution that seamlessly integrates Edge, Private 5G, IOT, and Modular Data Centers, providing unparalleled connectivity and supporting the computational demands of Generative AI applications deployed at the edge. NTT DATA, Press Release, February 2024)
Edge Analytics Market Report Coverage and Deliverables
The “Edge Analytics Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Edge analytics market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Edge analytics market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Edge analytics 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 edge analytics 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 edge analytics market is expected to grow at a CAGR of 24.9% during the forecast period 2024 - 2031.
The surge in the growth of IoT devices, increased demand for cloud computing, and increasing adoption of edge computing are the major factors driving the edge analytics market.
Technological advancement is anticipated to play a significant role in the global edge analytics market in the coming years.
The leading players operating in the edge analytics market are Amazon Web Service Inc.; Cisco Systems Inc.; Dell Inc; EdgeConneX; Hewlett Packard Enterprise Development LP; IBM Corporation; Intel Corporation; Microsoft; Oracle Corporation; PTC.
The report can be delivered in PDF/PPT format; we can also share an excel dataset based on the request.
Some of the customization options available based on the request are an 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.
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 Edge Analytics Market - By Solution
1.3.2 Edge Analytics Market - By Type
1.3.3 Edge Analytics Market - By Deployment Model
1.3.4 Edge Analytics Market - By Industry Vertical
1.3.5 Edge Analytics Market - By Region
1.3.5.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. EDGE ANALYTICS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.3.1 North America - Pest Analysis
4.3.2 Europe - Pest Analysis
4.3.3 Asia-Pacific - Pest Analysis
4.3.4 Middle East and Africa - Pest Analysis
4.3.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4 EXPERT OPINIONS
5. EDGE ANALYTICS 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. EDGE ANALYTICS MARKET - GLOBAL MARKET ANALYSIS
6.1. EDGE ANALYTICS - GLOBAL MARKET OVERVIEW
6.2. EDGE ANALYTICS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. EDGE ANALYTICS MARKET - REVENUE AND FORECASTS TO 2028 - SOLUTION
7.1. OVERVIEW
7.2. SOLUTION MARKET FORECASTS AND ANALYSIS
7.3. SOFTWARE
7.3.1. Overview
7.3.2. Software Market Forecast and Analysis
7.4. SERVICE
7.4.1. Overview
7.4.2. Service Market Forecast and Analysis
8. EDGE ANALYTICS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
8.1. OVERVIEW
8.2. TYPE MARKET FORECASTS AND ANALYSIS
8.3. HISTORICAL ANALYSIS
8.3.1. Overview
8.3.2. Historical Analysis Market Forecast and Analysis
8.4. PREDICTIVE ANALYSIS
8.4.1. Overview
8.4.2. Predictive Analysis Market Forecast and Analysis
8.5. PRESCRIPTIVE ANALYTICS
8.5.1. Overview
8.5.2. Prescriptive Analytics Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. EDGE ANALYTICS MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT MODEL
9.1. OVERVIEW
9.2. DEPLOYMENT MODEL MARKET FORECASTS AND ANALYSIS
9.3. CLOUD
9.3.1. Overview
9.3.2. Cloud Market Forecast and Analysis
9.4. ON-PREMISE
9.4.1. Overview
9.4.2. On-premise Market Forecast and Analysis
10. EDGE ANALYTICS MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY VERTICAL
10.1. OVERVIEW
10.2. INDUSTRY VERTICAL MARKET FORECASTS AND ANALYSIS
10.3. PUBLIC SECTOR
10.3.1. Overview
10.3.2. Public Sector Market Forecast and Analysis
10.4. RETAIL
10.4.1. Overview
10.4.2. Retail Market Forecast and Analysis
10.5. HEALTHCARE
10.5.1. Overview
10.5.2. Healthcare Market Forecast and Analysis
10.6. IT AND TELECOM
10.6.1. Overview
10.6.2. IT and Telecom Market Forecast and Analysis
10.7. MANUFACTURING
10.7.1. Overview
10.7.2. Manufacturing Market Forecast and Analysis
10.8. ENERGY AND UTILITY
10.8.1. Overview
10.8.2. Energy and Utility Market Forecast and Analysis
10.9. TRANSPORTATION
10.9.1. Overview
10.9.2. Transportation Market Forecast and Analysis
10.10. OTHERS
10.10.1. Overview
10.10.2. Others Market Forecast and Analysis
11. EDGE ANALYTICS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Edge Analytics Market Overview
11.1.2 North America Edge Analytics Market Forecasts and Analysis
11.1.3 North America Market Forecasts and Analysis - By Solution
11.1.4 North America Market Forecasts and Analysis - By Type
11.1.5 North America Market Forecasts and Analysis - By Deployment Model
11.1.6 North America Market Forecasts and Analysis - By Industry Vertical
11.1.7 North America Market Forecasts and Analysis - By Countries
11.1.7.1 United States Market
11.1.7.1.1 United States Market by Solution
11.1.7.1.2 United States Market by Type
11.1.7.1.3 United States Market by Deployment Model
11.1.7.1.4 United States Market by Industry Vertical
11.1.7.2 Canada Market
11.1.7.2.1 Canada Market by Solution
11.1.7.2.2 Canada Market by Type
11.1.7.2.3 Canada Market by Deployment Model
11.1.7.2.4 Canada Market by Industry Vertical
11.1.7.3 Mexico Market
11.1.7.3.1 Mexico Market by Solution
11.1.7.3.2 Mexico Market by Type
11.1.7.3.3 Mexico Market by Deployment Model
11.1.7.3.4 Mexico Market by Industry Vertical
11.2. EUROPE
11.2.1 Europe Edge Analytics Market Overview
11.2.2 Europe Edge Analytics Market Forecasts and Analysis
11.2.3 Europe Market Forecasts and Analysis - By Solution
11.2.4 Europe Market Forecasts and Analysis - By Type
11.2.5 Europe Market Forecasts and Analysis - By Deployment Model
11.2.6 Europe Market Forecasts and Analysis - By Industry Vertical
11.2.7 Europe Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Market
11.2.7.1.1 Germany Market by Solution
11.2.7.1.2 Germany Market by Type
11.2.7.1.3 Germany Market by Deployment Model
11.2.7.1.4 Germany Market by Industry Vertical
11.2.7.2 France Market
11.2.7.2.1 France Market by Solution
11.2.7.2.2 France Market by Type
11.2.7.2.3 France Market by Deployment Model
11.2.7.2.4 France Market by Industry Vertical
11.2.7.3 Italy Market
11.2.7.3.1 Italy Market by Solution
11.2.7.3.2 Italy Market by Type
11.2.7.3.3 Italy Market by Deployment Model
11.2.7.3.4 Italy Market by Industry Vertical
11.2.7.4 United Kingdom Market
11.2.7.4.1 United Kingdom Market by Solution
11.2.7.4.2 United Kingdom Market by Type
11.2.7.4.3 United Kingdom Market by Deployment Model
11.2.7.4.4 United Kingdom Market by Industry Vertical
11.2.7.5 Russia Market
11.2.7.5.1 Russia Market by Solution
11.2.7.5.2 Russia Market by Type
11.2.7.5.3 Russia Market by Deployment Model
11.2.7.5.4 Russia Market by Industry Vertical
11.2.7.6 Rest of Europe Market
11.2.7.6.1 Rest of Europe Market by Solution
11.2.7.6.2 Rest of Europe Market by Type
11.2.7.6.3 Rest of Europe Market by Deployment Model
11.2.7.6.4 Rest of Europe Market by Industry Vertical
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Edge Analytics Market Overview
11.3.2 Asia-Pacific Edge Analytics Market Forecasts and Analysis
11.3.3 Asia-Pacific Market Forecasts and Analysis - By Solution
11.3.4 Asia-Pacific Market Forecasts and Analysis - By Type
11.3.5 Asia-Pacific Market Forecasts and Analysis - By Deployment Model
11.3.6 Asia-Pacific Market Forecasts and Analysis - By Industry Vertical
11.3.7 Asia-Pacific Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Market
11.3.7.1.1 Australia Market by Solution
11.3.7.1.2 Australia Market by Type
11.3.7.1.3 Australia Market by Deployment Model
11.3.7.1.4 Australia Market by Industry Vertical
11.3.7.2 China Market
11.3.7.2.1 China Market by Solution
11.3.7.2.2 China Market by Type
11.3.7.2.3 China Market by Deployment Model
11.3.7.2.4 China Market by Industry Vertical
11.3.7.3 India Market
11.3.7.3.1 India Market by Solution
11.3.7.3.2 India Market by Type
11.3.7.3.3 India Market by Deployment Model
11.3.7.3.4 India Market by Industry Vertical
11.3.7.4 Japan Market
11.3.7.4.1 Japan Market by Solution
11.3.7.4.2 Japan Market by Type
11.3.7.4.3 Japan Market by Deployment Model
11.3.7.4.4 Japan Market by Industry Vertical
11.3.7.5 South Korea Market
11.3.7.5.1 South Korea Market by Solution
11.3.7.5.2 South Korea Market by Type
11.3.7.5.3 South Korea Market by Deployment Model
11.3.7.5.4 South Korea Market by Industry Vertical
11.3.7.6 Rest of Asia-Pacific Market
11.3.7.6.1 Rest of Asia-Pacific Market by Solution
11.3.7.6.2 Rest of Asia-Pacific Market by Type
11.3.7.6.3 Rest of Asia-Pacific Market by Deployment Model
11.3.7.6.4 Rest of Asia-Pacific Market by Industry Vertical
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Edge Analytics Market Overview
11.4.2 Middle East and Africa Edge Analytics Market Forecasts and Analysis
11.4.3 Middle East and Africa Market Forecasts and Analysis - By Solution
11.4.4 Middle East and Africa Market Forecasts and Analysis - By Type
11.4.5 Middle East and Africa Market Forecasts and Analysis - By Deployment Model
11.4.6 Middle East and Africa Market Forecasts and Analysis - By Industry Vertical
11.4.7 Middle East and Africa Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Market
11.4.7.1.1 South Africa Market by Solution
11.4.7.1.2 South Africa Market by Type
11.4.7.1.3 South Africa Market by Deployment Model
11.4.7.1.4 South Africa Market by Industry Vertical
11.4.7.2 Saudi Arabia Market
11.4.7.2.1 Saudi Arabia Market by Solution
11.4.7.2.2 Saudi Arabia Market by Type
11.4.7.2.3 Saudi Arabia Market by Deployment Model
11.4.7.2.4 Saudi Arabia Market by Industry Vertical
11.4.7.3 U.A.E Market
11.4.7.3.1 U.A.E Market by Solution
11.4.7.3.2 U.A.E Market by Type
11.4.7.3.3 U.A.E Market by Deployment Model
11.4.7.3.4 U.A.E Market by Industry Vertical
11.4.7.4 Rest of Middle East and Africa Market
11.4.7.4.1 Rest of Middle East and Africa Market by Solution
11.4.7.4.2 Rest of Middle East and Africa Market by Type
11.4.7.4.3 Rest of Middle East and Africa Market by Deployment Model
11.4.7.4.4 Rest of Middle East and Africa Market by Industry Vertical
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Edge Analytics Market Overview
11.5.2 South and Central America Edge Analytics Market Forecasts and Analysis
11.5.3 South and Central America Market Forecasts and Analysis - By Solution
11.5.4 South and Central America Market Forecasts and Analysis - By Type
11.5.5 South and Central America Market Forecasts and Analysis - By Deployment Model
11.5.6 South and Central America Market Forecasts and Analysis - By Industry Vertical
11.5.7 South and Central America Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Market
11.5.7.1.1 Brazil Market by Solution
11.5.7.1.2 Brazil Market by Type
11.5.7.1.3 Brazil Market by Deployment Model
11.5.7.1.4 Brazil Market by Industry Vertical
11.5.7.2 Argentina Market
11.5.7.2.1 Argentina Market by Solution
11.5.7.2.2 Argentina Market by Type
11.5.7.2.3 Argentina Market by Deployment Model
11.5.7.2.4 Argentina Market by Industry Vertical
11.5.7.3 Rest of South and Central America Market
11.5.7.3.1 Rest of South and Central America Market by Solution
11.5.7.3.2 Rest of South and Central America Market by Type
11.5.7.3.3 Rest of South and Central America Market by Deployment Model
11.5.7.3.4 Rest of South and Central America Market byIndustry Vertical
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. EDGE ANALYTICS MARKET, KEY COMPANY PROFILES
13.1. AGT INTERNATIONAL INC.
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. APIGEE CORPORATION (GOOGLE)
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. CGI ADVANCED ANALYTICS SOLUTIONS
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. CISCO SYSTEMS, INC.
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. FOGHORN SYSTEMS
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. GREENWAVE SYSTEMS
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. INTEL CORPORATION
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. ORACLE CORPORATION
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. PRISM TECH
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. SAP SE
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
The List of Companies
1. AGT International Inc.
2. Apigee Corporation (Google)
3. CGI Advanced Analytics Solutions
4. Cisco Systems, Inc.
5. FogHorn Systems
6. Greenwave Systems
7. Intel Corporation
8. Oracle Corporation
9. Prism Tech
10. SAP SE
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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