The Infantry Fighting Vehicle (IFV) Market is expected to register a CAGR of 3.5% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Type (Wheeled, Tracked); Configuration (Amphibious, Non-Amphibious); Application (Combat, Armored Reconnaissance, 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 Infantry Fighting Vehicle (IFV) 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.
Infantry Fighting Vehicle (IFV) Market Segmentation
Type- Wheeled
- Tracked
- Amphibious
- Non-Amphibious
- Combat
- Armored Reconnaissance
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Infantry Fighting Vehicle (IFV) Market Growth Drivers- Contracts for Infantry Fighting Vehicles: The growing number of contracts for infantry fighting vehicles is one of the major factors supporting the market growth. For instance, in september 2024, The US Army and BAE Systems finalized a contract modification worth over US$ 440 million to produce additional Bradley Fighting Vehicles.
- Increase in Defense Budget: Many governments are increasing their defense spending due to rising security threats and the need to modernize outdated military equipment. This includes upgrading or replacing old IFVs with more advanced models that can perform in a wider range of operational scenarios, such as urban combat, peacekeeping, and counter-terrorism.
- Advanced Weapon Systems: Modern IFVs are equipped with a wide range of advanced weaponry, including autocannons, anti-tank guided missiles (ATGMs), and heavy machine guns. These systems enable IFVs to provide both offensive and defensive fire support, making them an essential asset in mechanized warfare. The integration of automated and remote weapon systems also enhances operational flexibility and minimizes risks to crew members.
- Digitization and Network-Centric Warfare: Modern IFVs are being integrated with advanced digital systems, including communication networks, sensors, and battlefield management systems. These systems provide real-time situational awareness, connectivity with other vehicles and command centers, and the ability to coordinate operations in a networked environment, which enhances battlefield effectiveness.
- Rise in Military Modernization Programs: Many countries are undergoing military modernization programs to enhance their ground combat forces' capabilities. IFVs are a key element of these programs, as they enable ground forces to deploy troops quickly, provide fire support, and ensure greater survivability on the battlefield. As military forces modernize, they are replacing older, less capable armored personnel carriers (APCs) with more advanced IFVs equipped with the latest protection and weapon systems.
- Integration with Mechanized Infantry and Combined Arms Operations: IFVs are integral to mechanized infantry units, where they work in tandem with main battle tanks, artillery, and reconnaissance vehicles to execute combined arms operations. This coordinated approach to warfare requires highly capable IFVs that can operate effectively alongside other combat platforms.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Infantry Fighting Vehicle (IFV) 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 Infantry Fighting Vehicle (IFV) 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.
Some of the major trends driving the infantry fighting vehicle (IFV) market are:
1. Demand for Electric Propulsion Infantry Fighting Vehicles
The major factors driving the infantry fighting vehicle (IFV) market are:
1. Contracts for Infantry Fighting Vehicles
2. Increase in Demand for Mobile Combat Vehicles
The Infantry Fighting Vehicle (IFV) Market is estimated to witness a CAGR of 3.5% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Infantry Fighting Vehicle (IFV) Market - By Type
1.3.2 Infantry Fighting Vehicle (IFV) Market - By Configuration
1.3.3 Infantry Fighting Vehicle (IFV) Market - By Application
1.3.4 Infantry Fighting Vehicle (IFV) Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. INFANTRY FIGHTING VEHICLE (IFV) 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. INFANTRY FIGHTING VEHICLE (IFV) 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. INFANTRY FIGHTING VEHICLE (IFV) MARKET - GLOBAL MARKET ANALYSIS
6.1. INFANTRY FIGHTING VEHICLE (IFV) - GLOBAL MARKET OVERVIEW
6.2. INFANTRY FIGHTING VEHICLE (IFV) - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. INFANTRY FIGHTING VEHICLE (IFV) MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. WHEELED
7.3.1. Overview
7.3.2. Wheeled Market Forecast and Analysis
7.4. TRACKED
7.4.1. Overview
7.4.2. Tracked Market Forecast and Analysis
8. INFANTRY FIGHTING VEHICLE (IFV) MARKET - REVENUE AND FORECASTS TO 2028 - CONFIGURATION
8.1. OVERVIEW
8.2. CONFIGURATION MARKET FORECASTS AND ANALYSIS
8.3. AMPHIBIOUS
8.3.1. Overview
8.3.2. Amphibious Market Forecast and Analysis
8.4. NON-AMPHIBIOUS
8.4.1. Overview
8.4.2. Non-Amphibious Market Forecast and Analysis
9. INFANTRY FIGHTING VEHICLE (IFV) MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. COMBAT
9.3.1. Overview
9.3.2. Combat Market Forecast and Analysis
9.4. ARMORED RECONNAISSANCE
9.4.1. Overview
9.4.2. Armored Reconnaissance Market Forecast and Analysis
9.5. AMBULANCE
9.5.1. Overview
9.5.2. Ambulance Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. INFANTRY FIGHTING VEHICLE (IFV) MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Infantry Fighting Vehicle (IFV) Market Overview
10.1.2 North America Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis
10.1.3 North America Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Type
10.1.4 North America Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Configuration
10.1.5 North America Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Application
10.1.6 North America Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Countries
10.1.6.1 United States Infantry Fighting Vehicle (IFV) Market
10.1.6.1.1 United States Infantry Fighting Vehicle (IFV) Market by Type
10.1.6.1.2 United States Infantry Fighting Vehicle (IFV) Market by Configuration
10.1.6.1.3 United States Infantry Fighting Vehicle (IFV) Market by Application
10.1.6.2 Canada Infantry Fighting Vehicle (IFV) Market
10.1.6.2.1 Canada Infantry Fighting Vehicle (IFV) Market by Type
10.1.6.2.2 Canada Infantry Fighting Vehicle (IFV) Market by Configuration
10.1.6.2.3 Canada Infantry Fighting Vehicle (IFV) Market by Application
10.1.6.3 Mexico Infantry Fighting Vehicle (IFV) Market
10.1.6.3.1 Mexico Infantry Fighting Vehicle (IFV) Market by Type
10.1.6.3.2 Mexico Infantry Fighting Vehicle (IFV) Market by Configuration
10.1.6.3.3 Mexico Infantry Fighting Vehicle (IFV) Market by Application
10.2. EUROPE
10.2.1 Europe Infantry Fighting Vehicle (IFV) Market Overview
10.2.2 Europe Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis
10.2.3 Europe Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Type
10.2.4 Europe Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Configuration
10.2.5 Europe Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Application
10.2.6 Europe Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Infantry Fighting Vehicle (IFV) Market
10.2.6.1.1 Germany Infantry Fighting Vehicle (IFV) Market by Type
10.2.6.1.2 Germany Infantry Fighting Vehicle (IFV) Market by Configuration
10.2.6.1.3 Germany Infantry Fighting Vehicle (IFV) Market by Application
10.2.6.2 France Infantry Fighting Vehicle (IFV) Market
10.2.6.2.1 France Infantry Fighting Vehicle (IFV) Market by Type
10.2.6.2.2 France Infantry Fighting Vehicle (IFV) Market by Configuration
10.2.6.2.3 France Infantry Fighting Vehicle (IFV) Market by Application
10.2.6.3 Italy Infantry Fighting Vehicle (IFV) Market
10.2.6.3.1 Italy Infantry Fighting Vehicle (IFV) Market by Type
10.2.6.3.2 Italy Infantry Fighting Vehicle (IFV) Market by Configuration
10.2.6.3.3 Italy Infantry Fighting Vehicle (IFV) Market by Application
10.2.6.4 United Kingdom Infantry Fighting Vehicle (IFV) Market
10.2.6.4.1 United Kingdom Infantry Fighting Vehicle (IFV) Market by Type
10.2.6.4.2 United Kingdom Infantry Fighting Vehicle (IFV) Market by Configuration
10.2.6.4.3 United Kingdom Infantry Fighting Vehicle (IFV) Market by Application
10.2.6.5 Russia Infantry Fighting Vehicle (IFV) Market
10.2.6.5.1 Russia Infantry Fighting Vehicle (IFV) Market by Type
10.2.6.5.2 Russia Infantry Fighting Vehicle (IFV) Market by Configuration
10.2.6.5.3 Russia Infantry Fighting Vehicle (IFV) Market by Application
10.2.6.6 Rest of Europe Infantry Fighting Vehicle (IFV) Market
10.2.6.6.1 Rest of Europe Infantry Fighting Vehicle (IFV) Market by Type
10.2.6.6.2 Rest of Europe Infantry Fighting Vehicle (IFV) Market by Configuration
10.2.6.6.3 Rest of Europe Infantry Fighting Vehicle (IFV) Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Infantry Fighting Vehicle (IFV) Market Overview
10.3.2 Asia-Pacific Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis
10.3.3 Asia-Pacific Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Configuration
10.3.5 Asia-Pacific Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Infantry Fighting Vehicle (IFV) Market
10.3.6.1.1 Australia Infantry Fighting Vehicle (IFV) Market by Type
10.3.6.1.2 Australia Infantry Fighting Vehicle (IFV) Market by Configuration
10.3.6.1.3 Australia Infantry Fighting Vehicle (IFV) Market by Application
10.3.6.2 China Infantry Fighting Vehicle (IFV) Market
10.3.6.2.1 China Infantry Fighting Vehicle (IFV) Market by Type
10.3.6.2.2 China Infantry Fighting Vehicle (IFV) Market by Configuration
10.3.6.2.3 China Infantry Fighting Vehicle (IFV) Market by Application
10.3.6.3 India Infantry Fighting Vehicle (IFV) Market
10.3.6.3.1 India Infantry Fighting Vehicle (IFV) Market by Type
10.3.6.3.2 India Infantry Fighting Vehicle (IFV) Market by Configuration
10.3.6.3.3 India Infantry Fighting Vehicle (IFV) Market by Application
10.3.6.4 Japan Infantry Fighting Vehicle (IFV) Market
10.3.6.4.1 Japan Infantry Fighting Vehicle (IFV) Market by Type
10.3.6.4.2 Japan Infantry Fighting Vehicle (IFV) Market by Configuration
10.3.6.4.3 Japan Infantry Fighting Vehicle (IFV) Market by Application
10.3.6.5 South Korea Infantry Fighting Vehicle (IFV) Market
10.3.6.5.1 South Korea Infantry Fighting Vehicle (IFV) Market by Type
10.3.6.5.2 South Korea Infantry Fighting Vehicle (IFV) Market by Configuration
10.3.6.5.3 South Korea Infantry Fighting Vehicle (IFV) Market by Application
10.3.6.6 Rest of Asia-Pacific Infantry Fighting Vehicle (IFV) Market
10.3.6.6.1 Rest of Asia-Pacific Infantry Fighting Vehicle (IFV) Market by Type
10.3.6.6.2 Rest of Asia-Pacific Infantry Fighting Vehicle (IFV) Market by Configuration
10.3.6.6.3 Rest of Asia-Pacific Infantry Fighting Vehicle (IFV) Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Infantry Fighting Vehicle (IFV) Market Overview
10.4.2 Middle East and Africa Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis
10.4.3 Middle East and Africa Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Configuration
10.4.5 Middle East and Africa Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Infantry Fighting Vehicle (IFV) Market
10.4.6.1.1 South Africa Infantry Fighting Vehicle (IFV) Market by Type
10.4.6.1.2 South Africa Infantry Fighting Vehicle (IFV) Market by Configuration
10.4.6.1.3 South Africa Infantry Fighting Vehicle (IFV) Market by Application
10.4.6.2 Saudi Arabia Infantry Fighting Vehicle (IFV) Market
10.4.6.2.1 Saudi Arabia Infantry Fighting Vehicle (IFV) Market by Type
10.4.6.2.2 Saudi Arabia Infantry Fighting Vehicle (IFV) Market by Configuration
10.4.6.2.3 Saudi Arabia Infantry Fighting Vehicle (IFV) Market by Application
10.4.6.3 U.A.E Infantry Fighting Vehicle (IFV) Market
10.4.6.3.1 U.A.E Infantry Fighting Vehicle (IFV) Market by Type
10.4.6.3.2 U.A.E Infantry Fighting Vehicle (IFV) Market by Configuration
10.4.6.3.3 U.A.E Infantry Fighting Vehicle (IFV) Market by Application
10.4.6.4 Rest of Middle East and Africa Infantry Fighting Vehicle (IFV) Market
10.4.6.4.1 Rest of Middle East and Africa Infantry Fighting Vehicle (IFV) Market by Type
10.4.6.4.2 Rest of Middle East and Africa Infantry Fighting Vehicle (IFV) Market by Configuration
10.4.6.4.3 Rest of Middle East and Africa Infantry Fighting Vehicle (IFV) Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Infantry Fighting Vehicle (IFV) Market Overview
10.5.2 South and Central America Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis
10.5.3 South and Central America Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Type
10.5.4 South and Central America Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Configuration
10.5.5 South and Central America Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Application
10.5.6 South and Central America Infantry Fighting Vehicle (IFV) Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Infantry Fighting Vehicle (IFV) Market
10.5.6.1.1 Brazil Infantry Fighting Vehicle (IFV) Market by Type
10.5.6.1.2 Brazil Infantry Fighting Vehicle (IFV) Market by Configuration
10.5.6.1.3 Brazil Infantry Fighting Vehicle (IFV) Market by Application
10.5.6.2 Argentina Infantry Fighting Vehicle (IFV) Market
10.5.6.2.1 Argentina Infantry Fighting Vehicle (IFV) Market by Type
10.5.6.2.2 Argentina Infantry Fighting Vehicle (IFV) Market by Configuration
10.5.6.2.3 Argentina Infantry Fighting Vehicle (IFV) Market by Application
10.5.6.3 Rest of South and Central America Infantry Fighting Vehicle (IFV) Market
10.5.6.3.1 Rest of South and Central America Infantry Fighting Vehicle (IFV) Market by Type
10.5.6.3.2 Rest of South and Central America Infantry Fighting Vehicle (IFV) Market by Configuration
10.5.6.3.3 Rest of South and Central America Infantry Fighting Vehicle (IFV) 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. INFANTRY FIGHTING VEHICLE (IFV) MARKET, KEY COMPANY PROFILES
12.1. BAE SYSTEMS
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. FNSS SAVUNMA SISTEMLERI A.?.
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. GENERAL DYNAMICS
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. HANWHA DEFENSE
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. IVECO - OTO MELARA CONSORTIUM
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. KRAUSS-MAFFEI WEGMANN GMBH AND CO. KG
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. KURGANMASHZAVOD JSC
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. PARAMOUNT GROUP
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. RHEINMETALL AG
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. SAAB AB
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. BAE Systems
2. FNSS Savunma Sistemleri A.-.
3. General Dynamics
4. Hanwha Defense
5. Iveco - Oto Melara Consortium
6. Krauss-Maffei Wegmann GmbH and Co. KG
7. Kurganmashzavod JSC
8. Paramount Group
9. Rheinmetall AG
10. Saab 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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