Electric Vehicle Charging Stations Market Analysis 2021-2031
The Electric Vehicle Charging Stations Market is expected to register a CAGR of 12.3% 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 By Charging Infrastructure Type (AC Charging Station, DC Charging Station); Vehicle Type (Battery Electric Vehicle (BEV), Plug-In Hybrid Vehicle (PHEV)); Installation Type (Residential, Commercial). 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 Vehicle Charging Stations 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 Vehicle Charging Stations Market Segmentation
Installation Type- Residential
- Commercial
Strategic Insights
Electric Vehicle Charging Stations Market Growth Drivers- Increasing Adoption of Electric Vehicles (EVs): Primary Driver Growth in the Electric Vehicle Charging Stations Market is driven by the factor of increased adoption of electric vehicles. An increasing consumer trend of embracing electric vehicles leads to great demand for easily accessible charging solutions. As the price of EVs is coming down and the number of available models is growing, customers are embracing electric vehicles. Thus, there is now a strong demand for a more robust, extensive charging infrastructure to complement these vehicles. With increasingly diversified electric vehicle lines across budgets-from mass-market, luxury, and commercial, potential EV markets as well as charging stations expand.
- Government Policies and Incentives: Supportive government policies and incentives are being provided to popularise the use of electric vehicles. Several governments are coming up with rules and offering fiscal incentives to promote the installation of charging infrastructure, which would be the most critical element for the support of increasingly growing EVs on the road. Governments around the globe are setting tough targets to reduce emissions and providing incentives to promote electric vehicles. Electric vehicles are being targeted in many countries to replace or eliminate internal combustion engine (ICE) vehicles, which results in a direct increase in demand for EV charging infrastructure. Most governments provide financial incentives to install EV charging stations for individuals and businesses. The programs encouraging fast growth in the charging network are tax credits, grants, and rebates for owners of EVs and charging infrastructure providers. Governments in the U.S., EU member states, and China are specifically targeting investment plans for infrastructure, with a focus on increasing the number of EV charging networks. Such investments ensure that the charging infrastructure grows in step with increasing adoption of EVs.
- Emergence of Accessible Charging Infrastructure: Cities are developing, and more people tend to opt for EVs. However, there is also a need to ensure there is adequate charging infrastructure that is available in dense urban areas where parking spaces as well as home charging solutions are often limited. In turn, this is increasing the installation of public charging stations along shopping malls, office buildings, as well as parking garages. Installation of EV chargers in the workplace and public hotspots such as retail centers, parking garages, and restaurants is increasingly popular. It ensures the convenience of urban users who would not otherwise be able to access home charging.
- Growth of Home Charging Solutions: The key growth area is in the home charging solution. The activity in home charging solutions has been on an increasing scale because many of the EV owners prefer charging their vehicles at their homes, both owners who have private parking space and those who also avail public parks. It gives a boost to the development of home charging stations along with related technologies. Most of the charging of EVs takes place in the home, especially among consumers who have a garage or parking lot. However, as the market expands, more demand for public access to charging infrastructure is needed as an alternative to home-based solutions, especially for apartment residents and those without dedicated parking lots.
- Lowering Costs of Charging Station Installation: As the price of electric vehicles continues to drop, more customers are going electric, pushing the need for accessible charging infrastructure up. The costs associated with establishing charging infrastructure have reduced over time due to economy of scale and improved manufacturing. This has made investing in such infrastructure even more economical in low-demand areas, which do have high prospects for electric vehicle adoption later on.
- Expansion of Charging Infrastructure: There is a massive opportunity for businesses to invest and expand charging infrastructure. With the increase in electric vehicles, there is more demand for charging stations not only in cities but also on highways, presenting an unprecedented market for new entrants and established players alike. More extensive growth is expected go to rural or distant places. Although the use of EVs may still be lesser in these parts of the world, growing more accessible here can help in extensive penetration. Charging infrastructures are not border-oriented. The evolution of EV charging networks continues across geographies. While the giants like Tesla work for integrating cross-country solutions through companies like Charge Point, such solutions are more focused now. These international networks are going to significantly accelerate the growth of adoption in markets other than traditionally early-adopter regions like Europe and North America.
- Technological Advancements in the Market: Technological advancements in wireless charging and ultra-fast charging solutions will fuel the market. Companies that can develop and implement innovative charging technologies to avoid getting left behind will be ahead of the game and satisfy the demand to better charging options. EV charging stations, especially those with renewable energy sources, are being connected with advanced grids that distribute energy in a much more efficient and balanced way; balancing demand through energy storage systems and other forms of grid-friendly solutions. Moreover, there is emerging interest in powering up EV charging stations through renewable energy, including but not limited to solar and wind. Powering the charging stations with clean energy minimizes the carbon footprint of EVs, making it one major selling point for an eco-friendly consumer.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Electric Vehicle Charging Stations 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 Vehicle Charging Stations 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.
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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
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to country scope.
Frequently Asked Questions
The Electric Vehicle Charging Stations Market is estimated to witness a CAGR of 12.3% from 2023 to 2031
The major factors driving the Electric Vehicle Charging Stations Market are: Increasing Adoption of Electric Vehicles (EVs)#Government Policies and Incentives
Growth of Home Charging Solutions is the key future trend of the Electric Vehicle Charging Stations Market
The leading players operating in the Electric Vehicle Charging Stations Market include ABB Ltd., Alfen N.V., EFACEC Group, Engie SA, EVgo Services LLC, Leviton Manufacturing Co., Inc., Schneider Electric SE, Siemens AG, Tesla, Inc.
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 Vehicle Charging Stations Market - By Type
1.3.2 Electric Vehicle Charging Stations Market - By Vehicle Type
1.3.3 Electric Vehicle Charging Stations Market - By Installation Type
1.3.4 Electric Vehicle Charging Stations Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ELECTRIC VEHICLE CHARGING STATIONS 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. ELECTRIC VEHICLE CHARGING STATIONS 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 VEHICLE CHARGING STATIONS MARKET - GLOBAL MARKET ANALYSIS
6.1. ELECTRIC VEHICLE CHARGING STATIONS - GLOBAL MARKET OVERVIEW
6.2. ELECTRIC VEHICLE CHARGING STATIONS - GLOBAL MARKET AND FORECAST TO 2027
6.3. MARKET POSITIONING/MARKET SHARE
7. ELECTRIC VEHICLE CHARGING STATIONS MARKET - REVENUE AND FORECASTS TO 2027 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. AC CHARGING STATION
7.3.1. Overview
7.3.2. AC Charging Station Market Forecast and Analysis
7.4. DC CHARGING STATION
7.4.1. Overview
7.4.2. DC Charging Station Market Forecast and Analysis
8. ELECTRIC VEHICLE CHARGING STATIONS MARKET - REVENUE AND FORECASTS TO 2027 - VEHICLE TYPE
8.1. OVERVIEW
8.2. VEHICLE 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. PLUG-IN HYBRID VEHICLE (PHEV)
8.4.1. Overview
8.4.2. Plug-In Hybrid Vehicle (PHEV) Market Forecast and Analysis
9. ELECTRIC VEHICLE CHARGING STATIONS MARKET - REVENUE AND FORECASTS TO 2027 - INSTALLATION TYPE
9.1. OVERVIEW
9.2. INSTALLATION TYPE MARKET FORECASTS AND ANALYSIS
9.3. RESIDENTIAL
9.3.1. Overview
9.3.2. Residential Market Forecast and Analysis
9.4. COMMERCIAL
9.4.1. Overview
9.4.2. Commercial Market Forecast and Analysis
10. ELECTRIC VEHICLE CHARGING STATIONS MARKET REVENUE AND FORECASTS TO 2027 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Electric Vehicle Charging Stations Market Overview
10.1.2 North America Electric Vehicle Charging Stations Market Forecasts and Analysis
10.1.3 North America Electric Vehicle Charging Stations Market Forecasts and Analysis - By Type
10.1.4 North America Electric Vehicle Charging Stations Market Forecasts and Analysis - By Vehicle Type
10.1.5 North America Electric Vehicle Charging Stations Market Forecasts and Analysis - By Installation Type
10.1.6 North America Electric Vehicle Charging Stations Market Forecasts and Analysis - By Countries
10.1.6.1 United States Electric Vehicle Charging Stations Market
10.1.6.1.1 United States Electric Vehicle Charging Stations Market by Type
10.1.6.1.2 United States Electric Vehicle Charging Stations Market by Vehicle Type
10.1.6.1.3 United States Electric Vehicle Charging Stations Market by Installation Type
10.1.6.2 Canada Electric Vehicle Charging Stations Market
10.1.6.2.1 Canada Electric Vehicle Charging Stations Market by Type
10.1.6.2.2 Canada Electric Vehicle Charging Stations Market by Vehicle Type
10.1.6.2.3 Canada Electric Vehicle Charging Stations Market by Installation Type
10.1.6.3 Mexico Electric Vehicle Charging Stations Market
10.1.6.3.1 Mexico Electric Vehicle Charging Stations Market by Type
10.1.6.3.2 Mexico Electric Vehicle Charging Stations Market by Vehicle Type
10.1.6.3.3 Mexico Electric Vehicle Charging Stations Market by Installation Type
10.2. EUROPE
10.2.1 Europe Electric Vehicle Charging Stations Market Overview
10.2.2 Europe Electric Vehicle Charging Stations Market Forecasts and Analysis
10.2.3 Europe Electric Vehicle Charging Stations Market Forecasts and Analysis - By Type
10.2.4 Europe Electric Vehicle Charging Stations Market Forecasts and Analysis - By Vehicle Type
10.2.5 Europe Electric Vehicle Charging Stations Market Forecasts and Analysis - By Installation Type
10.2.6 Europe Electric Vehicle Charging Stations Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Electric Vehicle Charging Stations Market
10.2.6.1.1 Germany Electric Vehicle Charging Stations Market by Type
10.2.6.1.2 Germany Electric Vehicle Charging Stations Market by Vehicle Type
10.2.6.1.3 Germany Electric Vehicle Charging Stations Market by Installation Type
10.2.6.2 France Electric Vehicle Charging Stations Market
10.2.6.2.1 France Electric Vehicle Charging Stations Market by Type
10.2.6.2.2 France Electric Vehicle Charging Stations Market by Vehicle Type
10.2.6.2.3 France Electric Vehicle Charging Stations Market by Installation Type
10.2.6.3 Italy Electric Vehicle Charging Stations Market
10.2.6.3.1 Italy Electric Vehicle Charging Stations Market by Type
10.2.6.3.2 Italy Electric Vehicle Charging Stations Market by Vehicle Type
10.2.6.3.3 Italy Electric Vehicle Charging Stations Market by Installation Type
10.2.6.4 United Kingdom Electric Vehicle Charging Stations Market
10.2.6.4.1 United Kingdom Electric Vehicle Charging Stations Market by Type
10.2.6.4.2 United Kingdom Electric Vehicle Charging Stations Market by Vehicle Type
10.2.6.4.3 United Kingdom Electric Vehicle Charging Stations Market by Installation Type
10.2.6.5 Russia Electric Vehicle Charging Stations Market
10.2.6.5.1 Russia Electric Vehicle Charging Stations Market by Type
10.2.6.5.2 Russia Electric Vehicle Charging Stations Market by Vehicle Type
10.2.6.5.3 Russia Electric Vehicle Charging Stations Market by Installation Type
10.2.6.6 Rest of Europe Electric Vehicle Charging Stations Market
10.2.6.6.1 Rest of Europe Electric Vehicle Charging Stations Market by Type
10.2.6.6.2 Rest of Europe Electric Vehicle Charging Stations Market by Vehicle Type
10.2.6.6.3 Rest of Europe Electric Vehicle Charging Stations Market by Installation Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Electric Vehicle Charging Stations Market Overview
10.3.2 Asia-Pacific Electric Vehicle Charging Stations Market Forecasts and Analysis
10.3.3 Asia-Pacific Electric Vehicle Charging Stations Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Electric Vehicle Charging Stations Market Forecasts and Analysis - By Vehicle Type
10.3.5 Asia-Pacific Electric Vehicle Charging Stations Market Forecasts and Analysis - By Installation Type
10.3.6 Asia-Pacific Electric Vehicle Charging Stations Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Electric Vehicle Charging Stations Market
10.3.6.1.1 Australia Electric Vehicle Charging Stations Market by Type
10.3.6.1.2 Australia Electric Vehicle Charging Stations Market by Vehicle Type
10.3.6.1.3 Australia Electric Vehicle Charging Stations Market by Installation Type
10.3.6.2 China Electric Vehicle Charging Stations Market
10.3.6.2.1 China Electric Vehicle Charging Stations Market by Type
10.3.6.2.2 China Electric Vehicle Charging Stations Market by Vehicle Type
10.3.6.2.3 China Electric Vehicle Charging Stations Market by Installation Type
10.3.6.3 India Electric Vehicle Charging Stations Market
10.3.6.3.1 India Electric Vehicle Charging Stations Market by Type
10.3.6.3.2 India Electric Vehicle Charging Stations Market by Vehicle Type
10.3.6.3.3 India Electric Vehicle Charging Stations Market by Installation Type
10.3.6.4 Japan Electric Vehicle Charging Stations Market
10.3.6.4.1 Japan Electric Vehicle Charging Stations Market by Type
10.3.6.4.2 Japan Electric Vehicle Charging Stations Market by Vehicle Type
10.3.6.4.3 Japan Electric Vehicle Charging Stations Market by Installation Type
10.3.6.5 South Korea Electric Vehicle Charging Stations Market
10.3.6.5.1 South Korea Electric Vehicle Charging Stations Market by Type
10.3.6.5.2 South Korea Electric Vehicle Charging Stations Market by Vehicle Type
10.3.6.5.3 South Korea Electric Vehicle Charging Stations Market by Installation Type
10.3.6.6 Rest of Asia-Pacific Electric Vehicle Charging Stations Market
10.3.6.6.1 Rest of Asia-Pacific Electric Vehicle Charging Stations Market by Type
10.3.6.6.2 Rest of Asia-Pacific Electric Vehicle Charging Stations Market by Vehicle Type
10.3.6.6.3 Rest of Asia-Pacific Electric Vehicle Charging Stations Market by Installation Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Electric Vehicle Charging Stations Market Overview
10.4.2 Middle East and Africa Electric Vehicle Charging Stations Market Forecasts and Analysis
10.4.3 Middle East and Africa Electric Vehicle Charging Stations Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Electric Vehicle Charging Stations Market Forecasts and Analysis - By Vehicle Type
10.4.5 Middle East and Africa Electric Vehicle Charging Stations Market Forecasts and Analysis - By Installation Type
10.4.6 Middle East and Africa Electric Vehicle Charging Stations Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Electric Vehicle Charging Stations Market
10.4.6.1.1 South Africa Electric Vehicle Charging Stations Market by Type
10.4.6.1.2 South Africa Electric Vehicle Charging Stations Market by Vehicle Type
10.4.6.1.3 South Africa Electric Vehicle Charging Stations Market by Installation Type
10.4.6.2 Saudi Arabia Electric Vehicle Charging Stations Market
10.4.6.2.1 Saudi Arabia Electric Vehicle Charging Stations Market by Type
10.4.6.2.2 Saudi Arabia Electric Vehicle Charging Stations Market by Vehicle Type
10.4.6.2.3 Saudi Arabia Electric Vehicle Charging Stations Market by Installation Type
10.4.6.3 U.A.E Electric Vehicle Charging Stations Market
10.4.6.3.1 U.A.E Electric Vehicle Charging Stations Market by Type
10.4.6.3.2 U.A.E Electric Vehicle Charging Stations Market by Vehicle Type
10.4.6.3.3 U.A.E Electric Vehicle Charging Stations Market by Installation Type
10.4.6.4 Rest of Middle East and Africa Electric Vehicle Charging Stations Market
10.4.6.4.1 Rest of Middle East and Africa Electric Vehicle Charging Stations Market by Type
10.4.6.4.2 Rest of Middle East and Africa Electric Vehicle Charging Stations Market by Vehicle Type
10.4.6.4.3 Rest of Middle East and Africa Electric Vehicle Charging Stations Market by Installation Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Electric Vehicle Charging Stations Market Overview
10.5.2 South and Central America Electric Vehicle Charging Stations Market Forecasts and Analysis
10.5.3 South and Central America Electric Vehicle Charging Stations Market Forecasts and Analysis - By Type
10.5.4 South and Central America Electric Vehicle Charging Stations Market Forecasts and Analysis - By Vehicle Type
10.5.5 South and Central America Electric Vehicle Charging Stations Market Forecasts and Analysis - By Installation Type
10.5.6 South and Central America Electric Vehicle Charging Stations Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Electric Vehicle Charging Stations Market
10.5.6.1.1 Brazil Electric Vehicle Charging Stations Market by Type
10.5.6.1.2 Brazil Electric Vehicle Charging Stations Market by Vehicle Type
10.5.6.1.3 Brazil Electric Vehicle Charging Stations Market by Installation Type
10.5.6.2 Argentina Electric Vehicle Charging Stations Market
10.5.6.2.1 Argentina Electric Vehicle Charging Stations Market by Type
10.5.6.2.2 Argentina Electric Vehicle Charging Stations Market by Vehicle Type
10.5.6.2.3 Argentina Electric Vehicle Charging Stations Market by Installation Type
10.5.6.3 Rest of South and Central America Electric Vehicle Charging Stations Market
10.5.6.3.1 Rest of South and Central America Electric Vehicle Charging Stations Market by Type
10.5.6.3.2 Rest of South and Central America Electric Vehicle Charging Stations Market by Vehicle Type
10.5.6.3.3 Rest of South and Central America Electric Vehicle Charging Stations Market by Installation 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 VEHICLE CHARGING STATIONS MARKET, KEY COMPANY PROFILES
12.1. ABB LTD.
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. ALFEN N.V.
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. EFACEC GROUP
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. ENGIE SA
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. EVGO SERVICES LLC
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. LEVITON MANUFACTURING CO., 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. SCHNEIDER ELECTRIC SE
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. SIEMENS AG
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. TESLA, 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. TGOOD GLOBAL LTD.
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. ABB Ltd.
2. Alfen N.V.
3. EFACEC Group
4. Engie SA
5. EVgo Services LLC
6. Leviton Manufacturing Co., Inc.
7. Schneider Electric SE
8. Siemens AG
9. Tesla, Inc.
10. TGOOD Global Ltd.
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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