EMI Shielding Market Outlook, Size, Share, Trends by 2030
[Research Report] The EMI shielding market size is anticipated to grow from US$ 8.29 billion in 2022 to US$ 14.34 billion by 2030; it is projected to grow at a CAGR of 7.1% from 2022 to 2030.
EMI Shielding Market
Analyst Perspective:
Electronic devices are becoming increasingly compact, with greater functionality contained in smaller volumes. Researchers are focusing on mounting integrated circuits (ICs) and other components, such as antennas, closer together, even within the same semiconductor package. Such proximity renders conventional board-level shielding of electromagnetic interference (EMI) with metal enclosures inadequate. Hence, they are being replaced with package-level shielding, with metallic coatings applied directly to semiconductor packages. Conformal package-level shielding is necessitated for consumer devices, including smartphones, smartwatches, and augmented reality (AR)/ virtual reality (VR) headsets. At present, sputtering is the most favored method of creating conformal shields in the EMI shielding market. The deposition process involves firing ions at a metallic 'sputtering target' in a vacuum chamber to produce nanoscale metal particles. These particles coat the package surface and act as a barrier to EMI. While the capital equipment is expensive, the metallic sputtering targets are cost-effective, with many providers having existing systems installed. Up to 120 dB is deemed to be an exceptional protection rating, and 60-90 dB is considered high protection. In comparison, anything below 30 dB is considered the lowest effective rating for EMI or RFI shielding. Attenuation levels for the EMI shield can also be determined, although the testing procedure is complex.
Emerging methods such as spray coating and printing are gaining traction and have been covered in the EMI shielding market analysis. These methods offer much lower equipment costs as no vacuum chamber is required. They additionally offer extra benefits such as reduced variation in package top and side coating thickness and fewer process steps. Hence, researchers are focusing on developing EMI-shielded composites using the above-discussed emerging methods. EMI-shielded composites are required in a host of applications, including battery enclosures for automotive and aerospace, wherein EMI could interfere with the operation of the aircraft, device, or vehicle, eventually compromising security and control. Innovative, conductive, nonwoven materials that provide a solution to such challenges are being designed. They possess a combination of properties that make them highly flexible, infusible, lightweight, and an effective EMI shield. Such a combination provides them an advantage over traditional substrates such as films, foils, and paints since it allows them to overcome challenges in both application and process. The EMI shielding market forecast accounts for all such upcoming methods and applications.
EMI Shielding Market
Overview:
EMI is the disruption of signal from one source by another source's signal. Interference over radio frequencies is the most prevalent type in the electromagnetic spectrum. Energy radiated by circuits, lamps, lighting, power lines, and even engines and motors causes this interference. EMI can be classified into broadband EMI and narrow-band EMI. Broadband EMI appears over a broader spectrum as it uses a large part of the electromagnetic spectrum and can be observed when a device with a digital link is used. Narrow-band EMI is prevalent in mobile phones, radios, and TV stations because it occurs over a discrete frequency. The proliferation of communication systems and electronic devices has led to an extraordinary rise in electromagnetic radiation. While such advancement has revolutionized various industries and enabled seamless connectivity, it has also led to heightened concerns pertaining to potential health risks and interference with sensitive electronic equipment. Electromagnetic shielding is thus a critical technology to safeguard against unwanted EMI.
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EMI Shielding Market: Strategic Insights
Market Size Value in US$ 8.29 billion in 2022 Market Size Value by US$ 14.34 billion by 2030 Growth rate CAGR of 7.1% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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EMI Shielding Market: Strategic Insights
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Market Size Value in | US$ 8.29 billion in 2022 |
Market Size Value by | US$ 14.34 billion by 2030 |
Growth rate | CAGR of 7.1% from 2022 to 2030 |
Forecast Period | 2022-2030 |
Base Year | 2022 |
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EMI Shielding Market
Driver:
Rising Adoption of Industry 4.0 to Drive EMI Shielding Market Growth.
Industry 4.0 is often denoted as the Fourth Industrial Revolution or 4IR. It is strongly promoting the digitization of the manufacturing sector, driven by disruptive trends, including the rise of data and connectivity, analytics, human-machine interaction, and improvements in robotics. The smart factories of Industry 4.0 are equipped with advanced sensors, robotics, and embedded software that collect and analyze data, enabling better decision-making. Increased advantages can be obtained by combining data from production with operational data from enterprise resource planning (ERP), customer service, supply chain, and other enterprise-wide systems to create better visibility and insights. Such advantages have led to the creation of demand for a wide range of industrial electronic devices. Such novel applications are driving the EMI shielding market growth globally.
EMI Shielding Market
Segmental Analysis:
The global EMI shielding market report is segmented on the basis of material, method, and end user. Based on material, the market is segmented into conductive coatings & paints, conductive polymers, laminates, metals, and others. By method, the market is bifurcated into conduction and radiation. Based on end user, the market is segmented into aerospace & defense, automotive, consumer electronics, healthcare, IT & telecom, and others. By geography, the market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).
The EMI shielding market report has been segmented on the basis of material into conductive coatings & paints, conductive polymers, laminates, metals, and others. Conductive coatings & paints acquired the largest EMI shielding market share in 2022 and is expected to continue their domination throughout the forecast period. However, the conductive polymers segment is anticipated to witness a faster growth rate, buoyed by the rising research on developing advanced solutions and increasing the cost-effectiveness of such solutions.
EMI Shielding Market
Regional Analysis:
North America held a substantial EMI shielding market share in 2022. The region has a high penetration of advanced electronics and a high number of market players. Additionally, the region is a pioneer in the research and development of such advanced electronics. Additionally, the US and Canada have been witnessing a significant rise in the number of verticals adopting Industry 4.0 solutions. Industry 4.0 allows for the analysis of big data collected from the sensors on the factory floor. It thus enables real-time visibility of plant assets and can provide tools for the execution of predictive maintenance in order to minimize equipment downtime. Such benefits are a prime factor for the rising adoption of various Industry 4.0 solutions. With the miniaturization of electronic components and decreasing gaps between the semiconductors on a chip, EMI shielding are increasingly being sought for the advanced electronic components that are enabling Industry 4.0. Such applications are a strong driver of North America’s EMI shielding market in the region.
EMI Shielding Market
Key Player Analysis:
3M Company, DuPont de Nemours Inc, HEICO Corporation, Henkel AG & Co KGaA, MG Chemicals, Nolato AB, PPG Industries Inc, RTP Company, Schaffner Holding AG, and Tech Etch Inc are some of the key players profiled while estimating the EMI shielding market. The market is moderately fragmented, with several small solution providers from the APAC region entering the market after receiving government aid or private funding for research. Various other players are introducing new product offerings to expand their market share. Numerous other important players were also analyzed during this market research to get a holistic view of the global EMI shielding market trends. The leading players focus on feature upgrades, expansion and diversification, collaboration, and acquisition strategies, which enable them to grab new business opportunities.
EMI Shielding Market
Recent Developments:
Companies in the EMI shielding market adopt several inorganic and organic strategies, such as product innovation and partnership. 3M Company, DuPont de Nemours, HEICO Corporation, Henkel AG & Co KGaA, and PPG Industries Inc are key players. With the strong growth in demand for EMI shielding, numerous companies have established partnerships to expand their offerings. A few recent key EMI shielding market developments are listed below:
- January 2024 – Parker Hannifin’s Chomerics Division introduced two new versions of its leading SOFT-SHIELD 4850 multi-planar electrically conductive foam EMI shielding gasket for high-temperature environments and high-volume industrial applications. The new products SOFT-SHIELD 4840 and SOFT-SHIELD 4860 were launched for high-volume grounding and EMI shielding gaskets of high-temperature systems, respectively.
- June 2023 – Toyochem created a series of flexible insulating and conductive sheet films, branded Liotelant, for the protection of electronic and electrical equipment. As per the company, the films can be hot-press molded onto the EMI source on the printed circuit board. The process forms a lightweight multi-layer shield, which is expected to be more compact than metal shielding.
- October 2020 – Nanotech Energy Inc launched Nanotech EMI Armour Paint & Sheets, graphene-powered coatings and films for EMI and radio frequency interference (RFI) shielding, as well as heat management. The company’s EMI shielding product line is based on Nanotech Energy’s premium graphene technology. The EMI shielding line contained six highly conductive products, which prevented internal EMI/RFI leaks and also provided excellent external EMI/RFI protection. The product line-up can be brushed, sprayed, rolled, or dip-coated onto various surfaces, such as plastic, glass, and metal – depending on the specific product used. In addition, the company’s EMI shielding products are capable of dissipating the heat away from sensitive electronic devices, allowing the regulation of their temperature and preventing the thermal shutdown of modern electronics.
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
Material, Method, and End User
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
This text is related
to country scope.
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 EMI Shielding Market - By Material
1.3.2 EMI Shielding Market - By Method
1.3.3 EMI Shielding Market - By Application
1.3.4 EMI Shielding Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. EMI SHIELDING 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. EXPERT OPINIONS
5. EMI SHIELDING 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. EMI SHIELDING MARKET - GLOBAL MARKET ANALYSIS
6.1. EMI SHIELDING - GLOBAL MARKET OVERVIEW
6.2. EMI SHIELDING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. EMI SHIELDING MARKET - REVENUE AND FORECASTS TO 2028 - MATERIAL
7.1. OVERVIEW
7.2. MATERIAL MARKET FORECASTS AND ANALYSIS
7.3. CONDUCTIVE COATINGS AND PAINTS
7.3.1. Overview
7.3.2. Conductive Coatings and Paints Market Forecast and Analysis
7.4. METALS
7.4.1. Overview
7.4.2. Metals Market Forecast and Analysis
7.5. LAMINATES
7.5.1. Overview
7.5.2. Laminates Market Forecast and Analysis
7.6. CONDUCTIVE PLASTICS
7.6.1. Overview
7.6.2. Conductive Plastics Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. EMI SHIELDING MARKET - REVENUE AND FORECASTS TO 2028 - METHOD
8.1. OVERVIEW
8.2. METHOD MARKET FORECASTS AND ANALYSIS
8.3. RADIATION
8.3.1. Overview
8.3.2. Radiation Market Forecast and Analysis
8.4. CONDUCTION
8.4.1. Overview
8.4.2. Conduction Market Forecast and Analysis
9. EMI SHIELDING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. AUTOMOTIVE
9.3.1. Overview
9.3.2. Automotive Market Forecast and Analysis
9.4. DEFENSE AND AEROSPACE
9.4.1. Overview
9.4.2. Defense and Aerospace Market Forecast and Analysis
9.5. HEALTHCARE
9.5.1. Overview
9.5.2. Healthcare Market Forecast and Analysis
9.6. TELECOM AND IT
9.6.1. Overview
9.6.2. Telecom and IT Market Forecast and Analysis
9.7. CONSUMER ELECTRONICS
9.7.1. Overview
9.7.2. Consumer Electronics Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. EMI SHIELDING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America EMI Shielding Market Overview
10.1.2 North America EMI Shielding Market Forecasts and Analysis
10.1.3 North America Market Forecasts and Analysis - By Material
10.1.4 North America Market Forecasts and Analysis - By Method
10.1.5 North America Market Forecasts and Analysis - By Application
10.1.6 North America Market Forecasts and Analysis - By Countries
10.1.6.1 United States Market
10.1.6.1.1 United States Market by Material
10.1.6.1.2 United States Market by Method
10.1.6.1.3 United States Market by Application
10.1.6.2 Canada Market
10.1.6.2.1 Canada Market by Material
10.1.6.2.2 Canada Market by Method
10.1.6.2.3 Canada Market by Application
10.1.6.3 Mexico Market
10.1.6.3.1 Mexico Market by Material
10.1.6.3.2 Mexico Market by Method
10.1.6.3.3 Mexico Market by Application
10.2. EUROPE
10.2.1 Europe EMI Shielding Market Overview
10.2.2 Europe EMI Shielding Market Forecasts and Analysis
10.2.3 Europe Market Forecasts and Analysis - By Material
10.2.4 Europe Market Forecasts and Analysis - By Method
10.2.5 Europe Market Forecasts and Analysis - By Application
10.2.6 Europe Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Market
10.2.6.1.1 Germany Market by Material
10.2.6.1.2 Germany Market by Method
10.2.6.1.3 Germany Market by Application
10.2.6.2 France Market
10.2.6.2.1 France Market by Material
10.2.6.2.2 France Market by Method
10.2.6.2.3 France Market by Application
10.2.6.3 Italy Market
10.2.6.3.1 Italy Market by Material
10.2.6.3.2 Italy Market by Method
10.2.6.3.3 Italy Market by Application
10.2.6.4 United Kingdom Market
10.2.6.4.1 United Kingdom Market by Material
10.2.6.4.2 United Kingdom Market by Method
10.2.6.4.3 United Kingdom Market by Application
10.2.6.5 Russia Market
10.2.6.5.1 Russia Market by Material
10.2.6.5.2 Russia Market by Method
10.2.6.5.3 Russia Market by Application
10.2.6.6 Rest of Europe Market
10.2.6.6.1 Rest of Europe Market by Material
10.2.6.6.2 Rest of Europe Market by Method
10.2.6.6.3 Rest of Europe Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific EMI Shielding Market Overview
10.3.2 Asia-Pacific EMI Shielding Market Forecasts and Analysis
10.3.3 Asia-Pacific Market Forecasts and Analysis - By Material
10.3.4 Asia-Pacific Market Forecasts and Analysis - By Method
10.3.5 Asia-Pacific Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Market
10.3.6.1.1 Australia Market by Material
10.3.6.1.2 Australia Market by Method
10.3.6.1.3 Australia Market by Application
10.3.6.2 China Market
10.3.6.2.1 China Market by Material
10.3.6.2.2 China Market by Method
10.3.6.2.3 China Market by Application
10.3.6.3 India Market
10.3.6.3.1 India Market by Material
10.3.6.3.2 India Market by Method
10.3.6.3.3 India Market by Application
10.3.6.4 Japan Market
10.3.6.4.1 Japan Market by Material
10.3.6.4.2 Japan Market by Method
10.3.6.4.3 Japan Market by Application
10.3.6.5 South Korea Market
10.3.6.5.1 South Korea Market by Material
10.3.6.5.2 South Korea Market by Method
10.3.6.5.3 South Korea Market by Application
10.3.6.6 Rest of Asia-Pacific Market
10.3.6.6.1 Rest of Asia-Pacific Market by Material
10.3.6.6.2 Rest of Asia-Pacific Market by Method
10.3.6.6.3 Rest of Asia-Pacific Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa EMI Shielding Market Overview
10.4.2 Middle East and Africa EMI Shielding Market Forecasts and Analysis
10.4.3 Middle East and Africa Market Forecasts and Analysis - By Material
10.4.4 Middle East and Africa Market Forecasts and Analysis - By Method
10.4.5 Middle East and Africa Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Market
10.4.6.1.1 South Africa Market by Material
10.4.6.1.2 South Africa Market by Method
10.4.6.1.3 South Africa Market by Application
10.4.6.2 Saudi Arabia Market
10.4.6.2.1 Saudi Arabia Market by Material
10.4.6.2.2 Saudi Arabia Market by Method
10.4.6.2.3 Saudi Arabia Market by Application
10.4.6.3 U.A.E Market
10.4.6.3.1 U.A.E Market by Material
10.4.6.3.2 U.A.E Market by Method
10.4.6.3.3 U.A.E Market by Application
10.4.6.4 Rest of Middle East and Africa Market
10.4.6.4.1 Rest of Middle East and Africa Market by Material
10.4.6.4.2 Rest of Middle East and Africa Market by Method
10.4.6.4.3 Rest of Middle East and Africa Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America EMI Shielding Market Overview
10.5.2 South and Central America EMI Shielding Market Forecasts and Analysis
10.5.3 South and Central America Market Forecasts and Analysis - By Material
10.5.4 South and Central America Market Forecasts and Analysis - By Method
10.5.5 South and Central America Market Forecasts and Analysis - By Application
10.5.6 South and Central America Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Market
10.5.6.1.1 Brazil Market by Material
10.5.6.1.2 Brazil Market by Method
10.5.6.1.3 Brazil Market by Application
10.5.6.2 Argentina Market
10.5.6.2.1 Argentina Market by Material
10.5.6.2.2 Argentina Market by Method
10.5.6.2.3 Argentina Market by Application
10.5.6.3 Rest of South and Central America Market
10.5.6.3.1 Rest of South and Central America Market by Material
10.5.6.3.2 Rest of South and Central America Market by Method
10.5.6.3.3 Rest of South and Central America Market by Application
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. EMI SHIELDING MARKET, KEY COMPANY PROFILES
12.1. 3M COMPANY
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. ETS-LINDGREN INC.
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. HENKEL 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. KGS KITAGAWA INDUSTRIES CO. LTD.
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. LAIRD PLC
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. LEADER TECH 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. PARKER HANNIFIN CORP
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. PPG INDUSTRIES INC.
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. RTP COMPANY
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. SCHAFFNER HOLDING AG
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
The List of Companies
1. 3M Company
2. ETS-Lindgren Inc.
3. Henkel Corporation
4. KGS Kitagawa Industries Co. Ltd.
5. Laird plc
6. Leader Tech, Inc.
7. PARKER HANNIFIN CORP
8. PPG Industries, Inc.
9. RTP Company
10. SCHAFFNER HOLDING AG
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.