Eye Tracking Market Key Findings and Size by 2031
The Eye Tracking Market is expected to register a CAGR of 33.1% 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 (Hardware, Software, Services); Tracking Device Type (Screen-Mounted Tracker, Wearable Tracker); Application (Assistive Communication, Human Behavior and Research, Virtual Reality, Others); Industry (Consumer Electronics, Healthcare and Research, Automotive, 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 Eye Tracking 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.
Eye Tracking Market Segmentation
Component- Hardware
- Software
- Services
- Screen-Mounted Tracker
- Wearable Tracker
- Assistive Communication
- Human Behavior and Research
- Virtual Reality
- Others
- Consumer Electronics
- Healthcare and Research
- Automotive
- Others
- Consumer Electronics
- Healthcare and Research
- Automotive
- Others
Strategic Insights
Eye Tracking Market Growth Drivers- Increased Adoption in Healthcare and Clinical Research: Eye tracking is increasingly being used in healthcare, particularly for clinical research and diagnostics. It helps in studying eye movement patterns and diagnosing conditions like amblyopia, neurological disorders, and eye diseases. The ability to track and analyze eye movements is valuable for understanding cognitive and motor functions, driving adoption in medical research and personalized healthcare treatments.
- Growth of Virtual Reality (VR) and Augmented Reality (AR) Technologies: As VR and AR technologies grow, the need for accurate and responsive eye tracking becomes essential for creating immersive experiences. Eye tracking allows for foveated rendering in VR, improving graphical performance by rendering high-quality images only where the user is looking. This capability is critical for enhancing the realism and efficiency of VR/AR applications, driving the adoption of eye tracking in these markets.
- Eye Tracking in Automotive Applications: Eye tracking technology is being integrated into automotive systems for driver safety and convenience. By monitoring the driver’s eye movements, eye tracking systems can detect signs of fatigue, distraction, or drowsiness, triggering warnings or activating safety mechanisms. This trend toward incorporating eye tracking into advanced driver assistance systems (ADAS) and in-vehicle interfaces is gaining momentum as automotive safety technology evolves.
- Wearable and Mobile Eye Tracking Devices: There is a growing trend toward making eye tracking devices more portable and wearable. This includes integrating eye tracking technology into glasses, headsets, and mobile devices. Wearable eye trackers are becoming more user-friendly, enabling a wider range of applications in consumer electronics, sports, and clinical research. These mobile solutions are enhancing the accessibility of eye tracking technology across various industries.
- Expansion in the Healthcare Sector: Eye tracking offers significant opportunities in healthcare, particularly in diagnostics, treatment monitoring, and rehabilitation. In areas such as neurology and ophthalmology, eye tracking can be used to monitor disease progression, assess brain function, and even develop treatments for disorders like Parkinson’s or schizophrenia. As healthcare technology advances, eye tracking will become a vital tool in personalized medicine and clinical trials.
- Growing Demand for Personalized Marketing: The ability to analyze consumer behavior through eye movement data presents opportunities for personalized marketing and customer engagement. Eye tracking helps marketers understand which ads, products, or content attract the most attention, allowing them to tailor marketing campaigns to individual preferences. As digital advertising becomes more data-driven, there is a growing opportunity to leverage eye tracking for precise and targeted ad delivery.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Eye Tracking 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 Eye Tracking 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 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
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Integration with advanced driver assistance systems (ADAS) and focus on user experience is likely to remain a key trend in the market.
The Eye Tracking Market is estimated to witness a CAGR of 33.1% from 2023 to 2031
Increased focus on road safety and growing adoption across industries are the major factors driving the eye tracking market.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Eye Tracking Market - By Component
1.3.2 Eye Tracking Market - By Tracking Device Type
1.3.3 Eye Tracking Market - By Application
1.3.4 Eye Tracking Market - By Industry
1.3.5 Eye Tracking Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. EYE TRACKING 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. EYE TRACKING 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. EYE TRACKING MARKET - GLOBAL MARKET ANALYSIS
6.1. EYE TRACKING - GLOBAL MARKET OVERVIEW
6.2. EYE TRACKING - GLOBAL MARKET AND FORECAST TO 2027
6.3. MARKET POSITIONING/MARKET SHARE
7. EYE TRACKING MARKET - REVENUE AND FORECASTS TO 2027 - 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
7.4. SOFTWARE
7.4.1. Overview
7.4.2. Software Market Forecast and Analysis
7.5. SERVICES
7.5.1. Overview
7.5.2. Services Market Forecast and Analysis
8. EYE TRACKING MARKET - REVENUE AND FORECASTS TO 2027 - TRACKING DEVICE TYPE
8.1. OVERVIEW
8.2. TRACKING DEVICE TYPE MARKET FORECASTS AND ANALYSIS
8.3. SCREEN-MOUNTED TRACKER
8.3.1. Overview
8.3.2. Screen-Mounted Tracker Market Forecast and Analysis
8.4. WEARABLE TRACKER
8.4.1. Overview
8.4.2. Wearable Tracker Market Forecast and Analysis
9. EYE TRACKING MARKET - REVENUE AND FORECASTS TO 2027 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. ASSISTIVE COMMUNICATION
9.3.1. Overview
9.3.2. Assistive Communication Market Forecast and Analysis
9.4. HUMAN BEHAVIOR AND RESEARCH
9.4.1. Overview
9.4.2. Human Behavior and Research Market Forecast and Analysis
9.5. VIRTUAL REALITY
9.5.1. Overview
9.5.2. Virtual Reality Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. EYE TRACKING MARKET - REVENUE AND FORECASTS TO 2027 - INDUSTRY
10.1. OVERVIEW
10.2. INDUSTRY MARKET FORECASTS AND ANALYSIS
10.3. CONSUMER ELECTRONICS
10.3.1. Overview
10.3.2. Consumer Electronics Market Forecast and Analysis
10.4. HEALTHCARE AND RESEARCH
10.4.1. Overview
10.4.2. Healthcare and Research Market Forecast and Analysis
10.5. AUTOMOTIVE
10.5.1. Overview
10.5.2. Automotive Market Forecast and Analysis
10.6. OTHERS
10.6.1. Overview
10.6.2. Others Market Forecast and Analysis
11. EYE TRACKING MARKET REVENUE AND FORECASTS TO 2027 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Eye Tracking Market Overview
11.1.2 North America Eye Tracking Market Forecasts and Analysis
11.1.3 North America Eye Tracking Market Forecasts and Analysis - By Component
11.1.4 North America Eye Tracking Market Forecasts and Analysis - By Tracking Device Type
11.1.5 North America Eye Tracking Market Forecasts and Analysis - By Application
11.1.6 North America Eye Tracking Market Forecasts and Analysis - By Industry
11.1.7 North America Eye Tracking Market Forecasts and Analysis - By Countries
11.1.7.1 United States Eye Tracking Market
11.1.7.1.1 United States Eye Tracking Market by Component
11.1.7.1.2 United States Eye Tracking Market by Tracking Device Type
11.1.7.1.3 United States Eye Tracking Market by Application
11.1.7.1.4 United States Eye Tracking Market by Industry
11.1.7.2 Canada Eye Tracking Market
11.1.7.2.1 Canada Eye Tracking Market by Component
11.1.7.2.2 Canada Eye Tracking Market by Tracking Device Type
11.1.7.2.3 Canada Eye Tracking Market by Application
11.1.7.2.4 Canada Eye Tracking Market by Industry
11.1.7.3 Mexico Eye Tracking Market
11.1.7.3.1 Mexico Eye Tracking Market by Component
11.1.7.3.2 Mexico Eye Tracking Market by Tracking Device Type
11.1.7.3.3 Mexico Eye Tracking Market by Application
11.1.7.3.4 Mexico Eye Tracking Market by Industry
11.2. EUROPE
11.2.1 Europe Eye Tracking Market Overview
11.2.2 Europe Eye Tracking Market Forecasts and Analysis
11.2.3 Europe Eye Tracking Market Forecasts and Analysis - By Component
11.2.4 Europe Eye Tracking Market Forecasts and Analysis - By Tracking Device Type
11.2.5 Europe Eye Tracking Market Forecasts and Analysis - By Application
11.2.6 Europe Eye Tracking Market Forecasts and Analysis - By Industry
11.2.7 Europe Eye Tracking Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Eye Tracking Market
11.2.7.1.1 Germany Eye Tracking Market by Component
11.2.7.1.2 Germany Eye Tracking Market by Tracking Device Type
11.2.7.1.3 Germany Eye Tracking Market by Application
11.2.7.1.4 Germany Eye Tracking Market by Industry
11.2.7.2 France Eye Tracking Market
11.2.7.2.1 France Eye Tracking Market by Component
11.2.7.2.2 France Eye Tracking Market by Tracking Device Type
11.2.7.2.3 France Eye Tracking Market by Application
11.2.7.2.4 France Eye Tracking Market by Industry
11.2.7.3 Italy Eye Tracking Market
11.2.7.3.1 Italy Eye Tracking Market by Component
11.2.7.3.2 Italy Eye Tracking Market by Tracking Device Type
11.2.7.3.3 Italy Eye Tracking Market by Application
11.2.7.3.4 Italy Eye Tracking Market by Industry
11.2.7.4 United Kingdom Eye Tracking Market
11.2.7.4.1 United Kingdom Eye Tracking Market by Component
11.2.7.4.2 United Kingdom Eye Tracking Market by Tracking Device Type
11.2.7.4.3 United Kingdom Eye Tracking Market by Application
11.2.7.4.4 United Kingdom Eye Tracking Market by Industry
11.2.7.5 Russia Eye Tracking Market
11.2.7.5.1 Russia Eye Tracking Market by Component
11.2.7.5.2 Russia Eye Tracking Market by Tracking Device Type
11.2.7.5.3 Russia Eye Tracking Market by Application
11.2.7.5.4 Russia Eye Tracking Market by Industry
11.2.7.6 Rest of Europe Eye Tracking Market
11.2.7.6.1 Rest of Europe Eye Tracking Market by Component
11.2.7.6.2 Rest of Europe Eye Tracking Market by Tracking Device Type
11.2.7.6.3 Rest of Europe Eye Tracking Market by Application
11.2.7.6.4 Rest of Europe Eye Tracking Market by Industry
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Eye Tracking Market Overview
11.3.2 Asia-Pacific Eye Tracking Market Forecasts and Analysis
11.3.3 Asia-Pacific Eye Tracking Market Forecasts and Analysis - By Component
11.3.4 Asia-Pacific Eye Tracking Market Forecasts and Analysis - By Tracking Device Type
11.3.5 Asia-Pacific Eye Tracking Market Forecasts and Analysis - By Application
11.3.6 Asia-Pacific Eye Tracking Market Forecasts and Analysis - By Industry
11.3.7 Asia-Pacific Eye Tracking Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Eye Tracking Market
11.3.7.1.1 Australia Eye Tracking Market by Component
11.3.7.1.2 Australia Eye Tracking Market by Tracking Device Type
11.3.7.1.3 Australia Eye Tracking Market by Application
11.3.7.1.4 Australia Eye Tracking Market by Industry
11.3.7.2 China Eye Tracking Market
11.3.7.2.1 China Eye Tracking Market by Component
11.3.7.2.2 China Eye Tracking Market by Tracking Device Type
11.3.7.2.3 China Eye Tracking Market by Application
11.3.7.2.4 China Eye Tracking Market by Industry
11.3.7.3 India Eye Tracking Market
11.3.7.3.1 India Eye Tracking Market by Component
11.3.7.3.2 India Eye Tracking Market by Tracking Device Type
11.3.7.3.3 India Eye Tracking Market by Application
11.3.7.3.4 India Eye Tracking Market by Industry
11.3.7.4 Japan Eye Tracking Market
11.3.7.4.1 Japan Eye Tracking Market by Component
11.3.7.4.2 Japan Eye Tracking Market by Tracking Device Type
11.3.7.4.3 Japan Eye Tracking Market by Application
11.3.7.4.4 Japan Eye Tracking Market by Industry
11.3.7.5 South Korea Eye Tracking Market
11.3.7.5.1 South Korea Eye Tracking Market by Component
11.3.7.5.2 South Korea Eye Tracking Market by Tracking Device Type
11.3.7.5.3 South Korea Eye Tracking Market by Application
11.3.7.5.4 South Korea Eye Tracking Market by Industry
11.3.7.6 Rest of Asia-Pacific Eye Tracking Market
11.3.7.6.1 Rest of Asia-Pacific Eye Tracking Market by Component
11.3.7.6.2 Rest of Asia-Pacific Eye Tracking Market by Tracking Device Type
11.3.7.6.3 Rest of Asia-Pacific Eye Tracking Market by Application
11.3.7.6.4 Rest of Asia-Pacific Eye Tracking Market by Industry
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Eye Tracking Market Overview
11.4.2 Middle East and Africa Eye Tracking Market Forecasts and Analysis
11.4.3 Middle East and Africa Eye Tracking Market Forecasts and Analysis - By Component
11.4.4 Middle East and Africa Eye Tracking Market Forecasts and Analysis - By Tracking Device Type
11.4.5 Middle East and Africa Eye Tracking Market Forecasts and Analysis - By Application
11.4.6 Middle East and Africa Eye Tracking Market Forecasts and Analysis - By Industry
11.4.7 Middle East and Africa Eye Tracking Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Eye Tracking Market
11.4.7.1.1 South Africa Eye Tracking Market by Component
11.4.7.1.2 South Africa Eye Tracking Market by Tracking Device Type
11.4.7.1.3 South Africa Eye Tracking Market by Application
11.4.7.1.4 South Africa Eye Tracking Market by Industry
11.4.7.2 Saudi Arabia Eye Tracking Market
11.4.7.2.1 Saudi Arabia Eye Tracking Market by Component
11.4.7.2.2 Saudi Arabia Eye Tracking Market by Tracking Device Type
11.4.7.2.3 Saudi Arabia Eye Tracking Market by Application
11.4.7.2.4 Saudi Arabia Eye Tracking Market by Industry
11.4.7.3 U.A.E Eye Tracking Market
11.4.7.3.1 U.A.E Eye Tracking Market by Component
11.4.7.3.2 U.A.E Eye Tracking Market by Tracking Device Type
11.4.7.3.3 U.A.E Eye Tracking Market by Application
11.4.7.3.4 U.A.E Eye Tracking Market by Industry
11.4.7.4 Rest of Middle East and Africa Eye Tracking Market
11.4.7.4.1 Rest of Middle East and Africa Eye Tracking Market by Component
11.4.7.4.2 Rest of Middle East and Africa Eye Tracking Market by Tracking Device Type
11.4.7.4.3 Rest of Middle East and Africa Eye Tracking Market by Application
11.4.7.4.4 Rest of Middle East and Africa Eye Tracking Market by Industry
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Eye Tracking Market Overview
11.5.2 South and Central America Eye Tracking Market Forecasts and Analysis
11.5.3 South and Central America Eye Tracking Market Forecasts and Analysis - By Component
11.5.4 South and Central America Eye Tracking Market Forecasts and Analysis - By Tracking Device Type
11.5.5 South and Central America Eye Tracking Market Forecasts and Analysis - By Application
11.5.6 South and Central America Eye Tracking Market Forecasts and Analysis - By Industry
11.5.7 South and Central America Eye Tracking Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Eye Tracking Market
11.5.7.1.1 Brazil Eye Tracking Market by Component
11.5.7.1.2 Brazil Eye Tracking Market by Tracking Device Type
11.5.7.1.3 Brazil Eye Tracking Market by Application
11.5.7.1.4 Brazil Eye Tracking Market by Industry
11.5.7.2 Argentina Eye Tracking Market
11.5.7.2.1 Argentina Eye Tracking Market by Component
11.5.7.2.2 Argentina Eye Tracking Market by Tracking Device Type
11.5.7.2.3 Argentina Eye Tracking Market by Application
11.5.7.2.4 Argentina Eye Tracking Market by Industry
11.5.7.3 Rest of South and Central America Eye Tracking Market
11.5.7.3.1 Rest of South and Central America Eye Tracking Market by Component
11.5.7.3.2 Rest of South and Central America Eye Tracking Market by Tracking Device Type
11.5.7.3.3 Rest of South and Central America Eye Tracking Market by Application
11.5.7.3.4 Rest of South and Central America Eye Tracking Market by Industry
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. EYE TRACKING MARKET, KEY COMPANY PROFILES
13.1. ERGONEERS GMBH
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. EYETECH DIGITAL SYSTEMS, INC.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. EYEGAZE INC.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. LUMEN RESEARCH LTD
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. PUPIL LABS GMBH
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. ISCAN
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. SENSOMOTORIC INSTRUMENTS GMBH (APPLE INC.)
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. SMART EYE AB
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. SR RESEARCH LTD. (EYE LINK)
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. TOBII AB
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Ergoneers GmbH
2. Eyetech Digital Systems, Inc.
3. Eyegaze Inc.
4. Lumen Research Ltd
5. Pupil Labs GmbH
6. ISCAN
7. Sensomotoric Instruments GmbH (Apple Inc.)
8. Smart Eye AB
9. SR Research Ltd. (Eye Link)
10. Tobii AB
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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