Embedded Vision Market Overview and Forecast by 2031
The Embedded Vision Market is expected to register a CAGR of 7.1% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Embedded Vision Market Report is segmented by Component into the following subsegments: Hardware and Software. It is also segmented by Application, including Quality Assurance and Inspection, Positioning and Guidance, Measurement, Identification, and Predictive Maintenance; and by Vertical, including Automotive, Electronics and Semiconductors, Healthcare, Retail, and Others. The global analysis is broken down at the regional level and by major countries. The market evaluation is presented in US$ for the above segmental analysis, with projections through 2031.
Purpose of the ReportThe report Embedded Vision 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.
Embedded Vision Market Segmentation
Component- Hardware
- Software
- Quality Assurance and Inspection
- Positioning and Guidance
- Measurement
- Identification
- Predictive Maintenance
- Automotive
- Electronics and Semiconductors
- Healthcare
- Retail
- 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
Embedded Vision Market Growth Drivers- High-Paced Revolution in Artificial Intelligence (AI) and Machine Learning: AI algorithms are typically combined in an embedded vision system, providing much more rapid image recognition, processing, and analysis.
- Enhancing IoT and automation applications: With more and more industries adopting the Internet of Things (IoT) and automation, embedded vision systems form the basis of applications such as smart cameras, robotics, and autonomous vehicles.
- Real-Time Data Processing: There is a growing need for real-time data processing in places like robotics, healthcare, and surveillance. Embedded vision systems offer low-latency processing, thereby making instant analysis and decision-making possible-a factor of critical significance for automation and advancement in operational efficiency.
- Miniaturization of Vision Systems: Embedded vision systems continue trending toward thinner, smaller, and more compact features for seamless integration into applications ranging from drones to wearables. These are equipped with potent processing power despite their small sizes.
- Edge Computing Integration: A trend is emerging in the integration of edge computing with the application of embedded vision systems; this is increasing the possibility to execute data processing directly on the device, while limiting reliance on cloud-based processing as well as improving response times.
- Emerging Adoption in Automobile and Safety Application: The embedding of vision technology is at the forefront in the development of autonomous automobiles, driver-assistance applications, as well as safety monitoring apps. This trend is likely to increase because so many industries are focusing on safety and automation.
- Innovation in AI and ML: There is a growing need for advanced image recognition, motion detection, and object tracking. Companies can capitalize on this trend by developing AI-driven algorithms that will improve the performance of embedded vision systems.
- Emerging Applications: There are many emerging applications, from healthcare, such as diagnostic imaging, to agriculture, such as crop monitoring, and smart retail, such as automated checkout. Here, embedded vision can significantly come into play.
- Strategic Partnerships and Ecosystem Development: Collaboration with sensor manufacturers, AI developers, cloud computing firms, and others could expedite the development and commercialization of embedded vision solutions.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Embedded Vision 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 Embedded Vision 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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- 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
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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
Some of the customization options available based on request are 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.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The top market players are Basler AG, Baumer Ltd., Cognex Corporation, Intel Corporation, KEYENCE CORPORATION, NATIONAL INSTRUMENTS CORP., OMRON Corporation, Sony Semiconductor Solutions Corporation, Teledyne Digital Imaging Inc., Texas Instruments Incorporated,
Key trends in the market include enhanced AI integration in real-time image processing, greater use of embedded vision in IoT devices, and an increase in automotive and healthcare applications.
The market is expected to register a CAGR of 7.1% during 2023-2031.
Drivers for this market are constituted by the growth of AI, machine learning, and automation technologies, increased demand for autonomous vehicles, industrial automation, and advanced medical imaging systems.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Embedded Vision Market - By Component
1.3.2 Embedded Vision Market - By Application
1.3.3 Embedded Vision Market - By Vertical
1.3.4 Embedded Vision Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. EMBEDDED VISION 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. EMBEDDED VISION 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. EMBEDDED VISION MARKET - GLOBAL MARKET ANALYSIS
6.1. EMBEDDED VISION - GLOBAL MARKET OVERVIEW
6.2. EMBEDDED VISION - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. EMBEDDED VISION MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. HARDWARE
7.3.1. Overview
7.3.2. Hardware Market Forecast and Analysis
7.3.3. Cameras Market
7.3.3.1. Overview
7.3.3.2. Cameras Market Forecast and Analysis
7.3.4. Processors Market
7.3.4.1. Overview
7.3.4.2. Processors Market Forecast and Analysis
7.3.5. Vision Sensors Market
7.3.5.1. Overview
7.3.5.2. Vision Sensors Market Forecast and Analysis
7.3.6. Others Market
7.3.6.1. Overview
7.3.6.2. Others Market Forecast and Analysis
7.4. SOFTWARE
7.4.1. Overview
7.4.2. Software Market Forecast and Analysis
8. EMBEDDED VISION MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. QUALITY ASSURANCE AND INSPECTION
8.3.1. Overview
8.3.2. Quality Assurance and Inspection Market Forecast and Analysis
8.4. POSITIONING AND GUIDANCE
8.4.1. Overview
8.4.2. Positioning and Guidance Market Forecast and Analysis
8.5. MEASUREMENT
8.5.1. Overview
8.5.2. Measurement Market Forecast and Analysis
8.6. IDENTIFICATION
8.6.1. Overview
8.6.2. Identification Market Forecast and Analysis
8.7. PREDICTIVE MAINTENANCE
8.7.1. Overview
8.7.2. Predictive Maintenance Market Forecast and Analysis
9. EMBEDDED VISION MARKET - REVENUE AND FORECASTS TO 2028 - VERTICAL
9.1. OVERVIEW
9.2. VERTICAL MARKET FORECASTS AND ANALYSIS
9.3. AUTOMOTIVE
9.3.1. Overview
9.3.2. Automotive Market Forecast and Analysis
9.4. ELECTRONICS AND SEMICONDUCTORS
9.4.1. Overview
9.4.2. Electronics and Semiconductors Market Forecast and Analysis
9.5. HEALTHCARE
9.5.1. Overview
9.5.2. Healthcare Market Forecast and Analysis
9.6. RETAIL
9.6.1. Overview
9.6.2. Retail Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. EMBEDDED VISION MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Embedded Vision Market Overview
10.1.2 North America Embedded Vision Market Forecasts and Analysis
10.1.3 North America Embedded Vision Market Forecasts and Analysis - By Component
10.1.4 North America Embedded Vision Market Forecasts and Analysis - By Application
10.1.5 North America Embedded Vision Market Forecasts and Analysis - By Vertical
10.1.6 North America Embedded Vision Market Forecasts and Analysis - By Countries
10.1.6.1 United States Embedded Vision Market
10.1.6.1.1 United States Embedded Vision Market by Component
10.1.6.1.2 United States Embedded Vision Market by Application
10.1.6.1.3 United States Embedded Vision Market by Vertical
10.1.6.2 Canada Embedded Vision Market
10.1.6.2.1 Canada Embedded Vision Market by Component
10.1.6.2.2 Canada Embedded Vision Market by Application
10.1.6.2.3 Canada Embedded Vision Market by Vertical
10.1.6.3 Mexico Embedded Vision Market
10.1.6.3.1 Mexico Embedded Vision Market by Component
10.1.6.3.2 Mexico Embedded Vision Market by Application
10.1.6.3.3 Mexico Embedded Vision Market by Vertical
10.2. EUROPE
10.2.1 Europe Embedded Vision Market Overview
10.2.2 Europe Embedded Vision Market Forecasts and Analysis
10.2.3 Europe Embedded Vision Market Forecasts and Analysis - By Component
10.2.4 Europe Embedded Vision Market Forecasts and Analysis - By Application
10.2.5 Europe Embedded Vision Market Forecasts and Analysis - By Vertical
10.2.6 Europe Embedded Vision Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Embedded Vision Market
10.2.6.1.1 Germany Embedded Vision Market by Component
10.2.6.1.2 Germany Embedded Vision Market by Application
10.2.6.1.3 Germany Embedded Vision Market by Vertical
10.2.6.2 France Embedded Vision Market
10.2.6.2.1 France Embedded Vision Market by Component
10.2.6.2.2 France Embedded Vision Market by Application
10.2.6.2.3 France Embedded Vision Market by Vertical
10.2.6.3 Italy Embedded Vision Market
10.2.6.3.1 Italy Embedded Vision Market by Component
10.2.6.3.2 Italy Embedded Vision Market by Application
10.2.6.3.3 Italy Embedded Vision Market by Vertical
10.2.6.4 United Kingdom Embedded Vision Market
10.2.6.4.1 United Kingdom Embedded Vision Market by Component
10.2.6.4.2 United Kingdom Embedded Vision Market by Application
10.2.6.4.3 United Kingdom Embedded Vision Market by Vertical
10.2.6.5 Russia Embedded Vision Market
10.2.6.5.1 Russia Embedded Vision Market by Component
10.2.6.5.2 Russia Embedded Vision Market by Application
10.2.6.5.3 Russia Embedded Vision Market by Vertical
10.2.6.6 Rest of Europe Embedded Vision Market
10.2.6.6.1 Rest of Europe Embedded Vision Market by Component
10.2.6.6.2 Rest of Europe Embedded Vision Market by Application
10.2.6.6.3 Rest of Europe Embedded Vision Market by Vertical
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Embedded Vision Market Overview
10.3.2 Asia-Pacific Embedded Vision Market Forecasts and Analysis
10.3.3 Asia-Pacific Embedded Vision Market Forecasts and Analysis - By Component
10.3.4 Asia-Pacific Embedded Vision Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Embedded Vision Market Forecasts and Analysis - By Vertical
10.3.6 Asia-Pacific Embedded Vision Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Embedded Vision Market
10.3.6.1.1 Australia Embedded Vision Market by Component
10.3.6.1.2 Australia Embedded Vision Market by Application
10.3.6.1.3 Australia Embedded Vision Market by Vertical
10.3.6.2 China Embedded Vision Market
10.3.6.2.1 China Embedded Vision Market by Component
10.3.6.2.2 China Embedded Vision Market by Application
10.3.6.2.3 China Embedded Vision Market by Vertical
10.3.6.3 India Embedded Vision Market
10.3.6.3.1 India Embedded Vision Market by Component
10.3.6.3.2 India Embedded Vision Market by Application
10.3.6.3.3 India Embedded Vision Market by Vertical
10.3.6.4 Japan Embedded Vision Market
10.3.6.4.1 Japan Embedded Vision Market by Component
10.3.6.4.2 Japan Embedded Vision Market by Application
10.3.6.4.3 Japan Embedded Vision Market by Vertical
10.3.6.5 South Korea Embedded Vision Market
10.3.6.5.1 South Korea Embedded Vision Market by Component
10.3.6.5.2 South Korea Embedded Vision Market by Application
10.3.6.5.3 South Korea Embedded Vision Market by Vertical
10.3.6.6 Rest of Asia-Pacific Embedded Vision Market
10.3.6.6.1 Rest of Asia-Pacific Embedded Vision Market by Component
10.3.6.6.2 Rest of Asia-Pacific Embedded Vision Market by Application
10.3.6.6.3 Rest of Asia-Pacific Embedded Vision Market by Vertical
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Embedded Vision Market Overview
10.4.2 Middle East and Africa Embedded Vision Market Forecasts and Analysis
10.4.3 Middle East and Africa Embedded Vision Market Forecasts and Analysis - By Component
10.4.4 Middle East and Africa Embedded Vision Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Embedded Vision Market Forecasts and Analysis - By Vertical
10.4.6 Middle East and Africa Embedded Vision Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Embedded Vision Market
10.4.6.1.1 South Africa Embedded Vision Market by Component
10.4.6.1.2 South Africa Embedded Vision Market by Application
10.4.6.1.3 South Africa Embedded Vision Market by Vertical
10.4.6.2 Saudi Arabia Embedded Vision Market
10.4.6.2.1 Saudi Arabia Embedded Vision Market by Component
10.4.6.2.2 Saudi Arabia Embedded Vision Market by Application
10.4.6.2.3 Saudi Arabia Embedded Vision Market by Vertical
10.4.6.3 U.A.E Embedded Vision Market
10.4.6.3.1 U.A.E Embedded Vision Market by Component
10.4.6.3.2 U.A.E Embedded Vision Market by Application
10.4.6.3.3 U.A.E Embedded Vision Market by Vertical
10.4.6.4 Rest of Middle East and Africa Embedded Vision Market
10.4.6.4.1 Rest of Middle East and Africa Embedded Vision Market by Component
10.4.6.4.2 Rest of Middle East and Africa Embedded Vision Market by Application
10.4.6.4.3 Rest of Middle East and Africa Embedded Vision Market by Vertical
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Embedded Vision Market Overview
10.5.2 South and Central America Embedded Vision Market Forecasts and Analysis
10.5.3 South and Central America Embedded Vision Market Forecasts and Analysis - By Component
10.5.4 South and Central America Embedded Vision Market Forecasts and Analysis - By Application
10.5.5 South and Central America Embedded Vision Market Forecasts and Analysis - By Vertical
10.5.6 South and Central America Embedded Vision Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Embedded Vision Market
10.5.6.1.1 Brazil Embedded Vision Market by Component
10.5.6.1.2 Brazil Embedded Vision Market by Application
10.5.6.1.3 Brazil Embedded Vision Market by Vertical
10.5.6.2 Argentina Embedded Vision Market
10.5.6.2.1 Argentina Embedded Vision Market by Component
10.5.6.2.2 Argentina Embedded Vision Market by Application
10.5.6.2.3 Argentina Embedded Vision Market by Vertical
10.5.6.3 Rest of South and Central America Embedded Vision Market
10.5.6.3.1 Rest of South and Central America Embedded Vision Market by Component
10.5.6.3.2 Rest of South and Central America Embedded Vision Market by Application
10.5.6.3.3 Rest of South and Central America Embedded Vision Market by Vertical
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. EMBEDDED VISION MARKET, KEY COMPANY PROFILES
12.1. BASLER AG
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. BAUMER LTD.
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. COGNEX CORPORATION
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. INTEL CORPORATION
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. KEYENCE CORPORATION
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. NATIONAL INSTRUMENTS CORP.
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. OMRON CORPORATION
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. SONY SEMICONDUCTOR SOLUTIONS CORPORATION
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. TELEDYNE DIGITAL IMAGING 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. TEXAS INSTRUMENTS INCORPORATED
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.Basler AG
2.Baumer Ltd.
3.Cognex Corporation
4.Intel Corporation
5.KEYENCE CORPORATION
6.NATIONAL INSTRUMENTS CORP.
7.OMRON Corporation
8.Sony Semiconductor Solutions Corporation
9.Teledyne Digital Imaging Inc.
10.Texas Instruments Incorporated
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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