Electric Commercial Vehicle Market SWOT Analysis by 2031
The Electric Commercial Vehicle Market is expected to register a CAGR of 24.9% 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 Component (EV Battery, Electric Motor, Hydrogen Fuel Cell); Propulsion Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Fuel Cell Electric Vehicle (FCEV), Plug-In Hybrid Electric Vehicle (PHEV)); Vehicle Type (Bus, Truck, VAN, 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 Electric Commercial Vehicle 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.
Electric Commercial Vehicle Market Segmentation
Component- EV Battery
- Electric Motor
- Hydrogen Fuel Cell
- Battery Electric Vehicle
- Bus
- Truck
- VAN
- Others
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South and Central America
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South and Central America
Strategic Insights
Electric Commercial Vehicle Market Growth Drivers- Government Policy and Incentives: The governments are imposing stricter regulatory measures across cities to reduce GHG emissions and encourage low-pollution transportation solutions. For instance, tax credits, grants, and subsidies to purchase electric commercial vehicles have facilitated more companies to invest in such types of electric vehicles. Low-emission zones in several cities are also motivating fleet owners to change from diesel vehicles to electric ones to abide by the environmental requirements.
- Rise in Cost of Fuel and Operation Cost: The prices of fossil fuel have so far been unstable, forcing companies to explore cheaper alternatives in fulfilling their transportation needs. Electric commercial vehicles have fewer operation costs in comparison because of lower fuel costs and overall maintenance costs compared to other commercial internal combustion engine-based vehicles. This trend is increasingly attractive to the concerned companies in pursuit of efficiency and profitability.
- Advances in Battery Technology: Ongoing development of high-capacity, cost-effective batteries is driving the electric commercial vehicle market. Improved battery performance, longer ranges, and shorter charging times make electric vehicles more practical for commercial use, allowing them to compete with traditional internal combustion engine vehicles.
- Charging Infrastructure is Expanding: The other major opportunity for the electric commercial vehicle market is charging infrastructure. Along with increasing electric vehicle population on the road, the demand for accessible and efficient charging stations will increase. Companies involved in installing and maintaining charging networks will benefit from this development. Additionally, associations between automotive makers and service providers for charging could prove instrumental in developing this market.
- Last-Mile Delivery Growth Services: In a world where e-commerce sales continue to dominate the rise of online shopping, last-mile delivery is an area that will continue experiencing growth and expansion. Low operating costs and environmental benefits make electric commercial vehicles a great option for this type of business. Companies with last-mile delivery services might consider this as the best alternative to switch to electric and reduce carbon emissions while delivering goods to consumers who increasingly require sustainable logistics solutions.
- Collaboration and Partnerships: The Electric Commercial Vehicle Market is witnessing constant increases in the joint ventures and partnerships between manufacturers, technology providers, and charging infrastructure companies. This is basically aimed at accelerating the development and deployment of electric vehicles and their supporting infrastructure.
- Better Battery Recycling and Sustainability: The battery recycling and sustainability are taking frontiers with the growing electric commercial vehicle market. Companies are turning focus on the circular economy of EV batteries to reduce their impact during production and eventual disposal. Recycling practices continue to be optimized, as do applications of second-life use, all for the good of advancing sustainability in the EV market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Electric Commercial Vehicle 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 Electric Commercial Vehicle 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.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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 Electric Commercial Vehicle Market is estimated to witness a CAGR of 24.9% from 2023 to 2031
The major factors driving the Electric Commercial Vehicle Market are: The Growth of the Automotive Industry#Integration with Other Sensor Technologies
Rising Autonomy is the key future trend of the Electric Commercial Vehicle Market
The leading players operating in the Electric Commercial Vehicle Market include AB Volvo, Blue Bird Corporation, BYD Motors Inc., Ebusco, Emoss Mobile Systems BV, ProterraTata Motors, VDL Groep, and Optare Group Ltd
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on the request are an 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.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Electric Commercial Vehicle Market - By Component
1.3.2 Electric Commercial Vehicle Market - By Propulsion Type
1.3.3 Electric Commercial Vehicle Market - By Vehicle Type
1.3.4 Electric Commercial Vehicle Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ELECTRIC COMMERCIAL VEHICLE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. ELECTRIC COMMERCIAL VEHICLE 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. ELECTRIC COMMERCIAL VEHICLE MARKET - GLOBAL MARKET ANALYSIS
6.1. ELECTRIC COMMERCIAL VEHICLE - GLOBAL MARKET OVERVIEW
6.2. ELECTRIC COMMERCIAL VEHICLE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ELECTRIC COMMERCIAL VEHICLE MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. EV BATTERY
7.3.1. Overview
7.3.2. EV Battery Market Forecast and Analysis
7.4. ELECTRIC MOTOR
7.4.1. Overview
7.4.2. Electric Motor Market Forecast and Analysis
7.5. HYDROGEN FUEL CELL
7.5.1. Overview
7.5.2. Hydrogen Fuel Cell Market Forecast and Analysis
8. ELECTRIC COMMERCIAL VEHICLE MARKET - REVENUE AND FORECASTS TO 2028 - PROPULSION TYPE
8.1. OVERVIEW
8.2. PROPULSION TYPE MARKET FORECASTS AND ANALYSIS
8.3. BATTERY ELECTRIC VEHICLE (BEV)
8.3.1. Overview
8.3.2. Battery Electric Vehicle (BEV) Market Forecast and Analysis
8.4. HYBRID ELECTRIC VEHICLE (HEV)
8.4.1. Overview
8.4.2. Hybrid Electric Vehicle (HEV) Market Forecast and Analysis
8.5. FUEL CELL ELECTRIC VEHICLE (FCEV),
8.5.1. Overview
8.5.2. Fuel Cell Electric Vehicle (FCEV), Market Forecast and Analysis
8.6. PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV)
8.6.1. Overview
8.6.2. Plug-In Hybrid Electric Vehicle (PHEV) Market Forecast and Analysis
9. ELECTRIC COMMERCIAL VEHICLE MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
9.1. OVERVIEW
9.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
9.3. BUS
9.3.1. Overview
9.3.2. Bus Market Forecast and Analysis
9.4. TRUCK
9.4.1. Overview
9.4.2. Truck Market Forecast and Analysis
9.5. VAN
9.5.1. Overview
9.5.2. VAN Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. ELECTRIC COMMERCIAL VEHICLE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Electric Commercial Vehicle Market Overview
10.1.2 North America Electric Commercial Vehicle Market Forecasts and Analysis
10.1.3 North America Electric Commercial Vehicle Market Forecasts and Analysis - By Component
10.1.4 North America Electric Commercial Vehicle Market Forecasts and Analysis - By Propulsion Type
10.1.5 North America Electric Commercial Vehicle Market Forecasts and Analysis - By Vehicle Type
10.1.6 North America Electric Commercial Vehicle Market Forecasts and Analysis - By Countries
10.1.6.1 United States Electric Commercial Vehicle Market
10.1.6.1.1 United States Electric Commercial Vehicle Market by Component
10.1.6.1.2 United States Electric Commercial Vehicle Market by Propulsion Type
10.1.6.1.3 United States Electric Commercial Vehicle Market by Vehicle Type
10.1.6.2 Canada Electric Commercial Vehicle Market
10.1.6.2.1 Canada Electric Commercial Vehicle Market by Component
10.1.6.2.2 Canada Electric Commercial Vehicle Market by Propulsion Type
10.1.6.2.3 Canada Electric Commercial Vehicle Market by Vehicle Type
10.1.6.3 Mexico Electric Commercial Vehicle Market
10.1.6.3.1 Mexico Electric Commercial Vehicle Market by Component
10.1.6.3.2 Mexico Electric Commercial Vehicle Market by Propulsion Type
10.1.6.3.3 Mexico Electric Commercial Vehicle Market by Vehicle Type
10.2. EUROPE
10.2.1 Europe Electric Commercial Vehicle Market Overview
10.2.2 Europe Electric Commercial Vehicle Market Forecasts and Analysis
10.2.3 Europe Electric Commercial Vehicle Market Forecasts and Analysis - By Component
10.2.4 Europe Electric Commercial Vehicle Market Forecasts and Analysis - By Propulsion Type
10.2.5 Europe Electric Commercial Vehicle Market Forecasts and Analysis - By Vehicle Type
10.2.6 Europe Electric Commercial Vehicle Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Electric Commercial Vehicle Market
10.2.6.1.1 Germany Electric Commercial Vehicle Market by Component
10.2.6.1.2 Germany Electric Commercial Vehicle Market by Propulsion Type
10.2.6.1.3 Germany Electric Commercial Vehicle Market by Vehicle Type
10.2.6.2 France Electric Commercial Vehicle Market
10.2.6.2.1 France Electric Commercial Vehicle Market by Component
10.2.6.2.2 France Electric Commercial Vehicle Market by Propulsion Type
10.2.6.2.3 France Electric Commercial Vehicle Market by Vehicle Type
10.2.6.3 Italy Electric Commercial Vehicle Market
10.2.6.3.1 Italy Electric Commercial Vehicle Market by Component
10.2.6.3.2 Italy Electric Commercial Vehicle Market by Propulsion Type
10.2.6.3.3 Italy Electric Commercial Vehicle Market by Vehicle Type
10.2.6.4 United Kingdom Electric Commercial Vehicle Market
10.2.6.4.1 United Kingdom Electric Commercial Vehicle Market by Component
10.2.6.4.2 United Kingdom Electric Commercial Vehicle Market by Propulsion Type
10.2.6.4.3 United Kingdom Electric Commercial Vehicle Market by Vehicle Type
10.2.6.5 Russia Electric Commercial Vehicle Market
10.2.6.5.1 Russia Electric Commercial Vehicle Market by Component
10.2.6.5.2 Russia Electric Commercial Vehicle Market by Propulsion Type
10.2.6.5.3 Russia Electric Commercial Vehicle Market by Vehicle Type
10.2.6.6 Rest of Europe Electric Commercial Vehicle Market
10.2.6.6.1 Rest of Europe Electric Commercial Vehicle Market by Component
10.2.6.6.2 Rest of Europe Electric Commercial Vehicle Market by Propulsion Type
10.2.6.6.3 Rest of Europe Electric Commercial Vehicle Market by Vehicle Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Electric Commercial Vehicle Market Overview
10.3.2 Asia-Pacific Electric Commercial Vehicle Market Forecasts and Analysis
10.3.3 Asia-Pacific Electric Commercial Vehicle Market Forecasts and Analysis - By Component
10.3.4 Asia-Pacific Electric Commercial Vehicle Market Forecasts and Analysis - By Propulsion Type
10.3.5 Asia-Pacific Electric Commercial Vehicle Market Forecasts and Analysis - By Vehicle Type
10.3.6 Asia-Pacific Electric Commercial Vehicle Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Electric Commercial Vehicle Market
10.3.6.1.1 Australia Electric Commercial Vehicle Market by Component
10.3.6.1.2 Australia Electric Commercial Vehicle Market by Propulsion Type
10.3.6.1.3 Australia Electric Commercial Vehicle Market by Vehicle Type
10.3.6.2 China Electric Commercial Vehicle Market
10.3.6.2.1 China Electric Commercial Vehicle Market by Component
10.3.6.2.2 China Electric Commercial Vehicle Market by Propulsion Type
10.3.6.2.3 China Electric Commercial Vehicle Market by Vehicle Type
10.3.6.3 India Electric Commercial Vehicle Market
10.3.6.3.1 India Electric Commercial Vehicle Market by Component
10.3.6.3.2 India Electric Commercial Vehicle Market by Propulsion Type
10.3.6.3.3 India Electric Commercial Vehicle Market by Vehicle Type
10.3.6.4 Japan Electric Commercial Vehicle Market
10.3.6.4.1 Japan Electric Commercial Vehicle Market by Component
10.3.6.4.2 Japan Electric Commercial Vehicle Market by Propulsion Type
10.3.6.4.3 Japan Electric Commercial Vehicle Market by Vehicle Type
10.3.6.5 South Korea Electric Commercial Vehicle Market
10.3.6.5.1 South Korea Electric Commercial Vehicle Market by Component
10.3.6.5.2 South Korea Electric Commercial Vehicle Market by Propulsion Type
10.3.6.5.3 South Korea Electric Commercial Vehicle Market by Vehicle Type
10.3.6.6 Rest of Asia-Pacific Electric Commercial Vehicle Market
10.3.6.6.1 Rest of Asia-Pacific Electric Commercial Vehicle Market by Component
10.3.6.6.2 Rest of Asia-Pacific Electric Commercial Vehicle Market by Propulsion Type
10.3.6.6.3 Rest of Asia-Pacific Electric Commercial Vehicle Market by Vehicle Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Electric Commercial Vehicle Market Overview
10.4.2 Middle East and Africa Electric Commercial Vehicle Market Forecasts and Analysis
10.4.3 Middle East and Africa Electric Commercial Vehicle Market Forecasts and Analysis - By Component
10.4.4 Middle East and Africa Electric Commercial Vehicle Market Forecasts and Analysis - By Propulsion Type
10.4.5 Middle East and Africa Electric Commercial Vehicle Market Forecasts and Analysis - By Vehicle Type
10.4.6 Middle East and Africa Electric Commercial Vehicle Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Electric Commercial Vehicle Market
10.4.6.1.1 South Africa Electric Commercial Vehicle Market by Component
10.4.6.1.2 South Africa Electric Commercial Vehicle Market by Propulsion Type
10.4.6.1.3 South Africa Electric Commercial Vehicle Market by Vehicle Type
10.4.6.2 Saudi Arabia Electric Commercial Vehicle Market
10.4.6.2.1 Saudi Arabia Electric Commercial Vehicle Market by Component
10.4.6.2.2 Saudi Arabia Electric Commercial Vehicle Market by Propulsion Type
10.4.6.2.3 Saudi Arabia Electric Commercial Vehicle Market by Vehicle Type
10.4.6.3 U.A.E Electric Commercial Vehicle Market
10.4.6.3.1 U.A.E Electric Commercial Vehicle Market by Component
10.4.6.3.2 U.A.E Electric Commercial Vehicle Market by Propulsion Type
10.4.6.3.3 U.A.E Electric Commercial Vehicle Market by Vehicle Type
10.4.6.4 Rest of Middle East and Africa Electric Commercial Vehicle Market
10.4.6.4.1 Rest of Middle East and Africa Electric Commercial Vehicle Market by Component
10.4.6.4.2 Rest of Middle East and Africa Electric Commercial Vehicle Market by Propulsion Type
10.4.6.4.3 Rest of Middle East and Africa Electric Commercial Vehicle Market by Vehicle Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Electric Commercial Vehicle Market Overview
10.5.2 South and Central America Electric Commercial Vehicle Market Forecasts and Analysis
10.5.3 South and Central America Electric Commercial Vehicle Market Forecasts and Analysis - By Component
10.5.4 South and Central America Electric Commercial Vehicle Market Forecasts and Analysis - By Propulsion Type
10.5.5 South and Central America Electric Commercial Vehicle Market Forecasts and Analysis - By Vehicle Type
10.5.6 South and Central America Electric Commercial Vehicle Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Electric Commercial Vehicle Market
10.5.6.1.1 Brazil Electric Commercial Vehicle Market by Component
10.5.6.1.2 Brazil Electric Commercial Vehicle Market by Propulsion Type
10.5.6.1.3 Brazil Electric Commercial Vehicle Market by Vehicle Type
10.5.6.2 Argentina Electric Commercial Vehicle Market
10.5.6.2.1 Argentina Electric Commercial Vehicle Market by Component
10.5.6.2.2 Argentina Electric Commercial Vehicle Market by Propulsion Type
10.5.6.2.3 Argentina Electric Commercial Vehicle Market by Vehicle Type
10.5.6.3 Rest of South and Central America Electric Commercial Vehicle Market
10.5.6.3.1 Rest of South and Central America Electric Commercial Vehicle Market by Component
10.5.6.3.2 Rest of South and Central America Electric Commercial Vehicle Market by Propulsion Type
10.5.6.3.3 Rest of South and Central America Electric Commercial Vehicle Market by Vehicle Type
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. ELECTRIC COMMERCIAL VEHICLE MARKET, KEY COMPANY PROFILES
12.1. AB VOLVO
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. BLUE BIRD CORPORATION
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. BYD MOTORS INC.
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. EBUSCO
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. EMOSS MOBILE SYSTEMS BV
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. PROTERRA
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. TATA MOTORS
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. VDL GROEP
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. OPTARE GROUP LTD
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. YUTONG
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
1. AB Volvo
2. Blue Bird Corporation
3. BYD Motors Inc.
4. Ebusco
5. Emoss Mobile Systems BV
6. Proterra
7. Tata Motors
8. VDL Groep
9. Optare Group Ltd
10. YUTONG
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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