Internet of Things In Insurance Market Strategies and Share 2031
The Internet of Things (IoT) is a network of devices, sensors, and services that link, interact, and exchange data. In the insurance industry, the Internet of Things is gaining popularity. To boost operating performance, insurance companies have implemented Internet of Things-based technologies in their core business solutions. In the property and casualty (P&C) insurance industry, the Internet of Things technology has matured. Insurance firms can now operate more quickly and make critical data-driven decisions thanks to Internet of Things technology. Additionally, there is no need for documentation. Customers may use the mobile apps to make claims. Biometrics and environmental sensors, for example, are connected devices that help calculate risk and change policies. The key driving factors for the market are, Internet of Things (IoT) products are becoming increasingly common in both developed and emerging economies. In the insurance industry, there is a growing demand for cloud and other value-added services.
MARKET DYNAMICS
The improved performance of the insurance sector is one of the driving forces for the Internet of Things in the insurance market. In the insurance industry, the Internet of Things aids in more effective risk assessment and improved loss management. Furthermore, it streamlines the contracting process and allows for easy access and management. Furthermore, it offers free fitness trackers to healthcare end users to help them keep track of their activities. Additionally, Internet of Things (IoT) products are becoming increasingly common in both developed and emerging economies. In the insurance industry, there is a growing demand for cloud and other value-added services. However, issues like data privacy concern and other storage and processing concerns are expected to restrain market growth during the forecast period.
MARKET SCOPE
The "Global Internet of Things In Insurance Market Analysis to 2031" is a specialized and in-depth study of the Internet of things in insurance Market with a special focus on the global market trend analysis. The report aims to provide an overview of Internet of things in insurance market with detailed market segmentation by insurance type, component and insurance application. The global Internet of things in insurance market expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Internet of things in insurance market player and offers key trends and opportunities in the Internet of things in insurance market.
MARKET SEGMENTATION
The global Internet of things in insurance market is segmented on the basis of insurance type, component and insurance application. On the basis of insurance type the market is segmented as, property and casualty insurance, health insurance, life insurance, others. On the basis of component the market is segmented as, software and services. Further, on the basis of insurance application the market is bifurcated as, automotive and transportation, home and commercial buildings, life and health, travel, agriculture , others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Internet of things in insurance market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Internet of things in insurance market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Internet of things in insurance Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Internet of things in insurance market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Internet of things in insurance market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Internet of things in insurance market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Internet of things in insurance Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the Internet of things in insurance market in these regions.
MARKET PLAYERS
The reports cover key developments in the Internet of things in insurance market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Internet of things in insurance market are anticipated to lucrative growth opportunities in the future with the rising demand for Internet of things in insurance market. Below mentioned is the list of few companies engaged in the Internet of things in insurance market.
The report also includes the profiles of key Internet of things in insurance market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Accenture PLC
- Cisco Systems Inc
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- Verisk Analytics, Inc
- Zonoff Inc
- Cognizant Technology Solutions Corp
- Lemonade Inc
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Internet Of Things In Insurance Market - By Insurance Type
1.3.2 Internet Of Things In Insurance Market - By Component
1.3.3 Internet Of Things In Insurance Market - By Insurance Application
1.3.4 Internet Of Things In Insurance Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. INTERNET OF THINGS IN INSURANCE 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. INTERNET OF THINGS IN INSURANCE 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. INTERNET OF THINGS IN INSURANCE MARKET - GLOBAL MARKET ANALYSIS
6.1. INTERNET OF THINGS IN INSURANCE - GLOBAL MARKET OVERVIEW
6.2. INTERNET OF THINGS IN INSURANCE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. INTERNET OF THINGS IN INSURANCE MARKET - REVENUE AND FORECASTS TO 2028 - INSURANCE TYPE
7.1. OVERVIEW
7.2. INSURANCE TYPE MARKET FORECASTS AND ANALYSIS
7.3. PROPERTY AND CASUALTY (P&C) INSURANCE
7.3.1. Overview
7.3.2. Property and Casualty (P&C) Insurance Market Forecast and Analysis
7.4. HEALTH INSURANCE
7.4.1. Overview
7.4.2. Health Insurance Market Forecast and Analysis
7.5. LIFE INSURANCE
7.5.1. Overview
7.5.2. Life Insurance Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. INTERNET OF THINGS IN INSURANCE MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
8.1. OVERVIEW
8.2. COMPONENT MARKET FORECASTS AND ANALYSIS
8.3. SOFTWARE
8.3.1. Overview
8.3.2. Software Market Forecast and Analysis
8.4. SERVICES
8.4.1. Overview
8.4.2. Services Market Forecast and Analysis
9. INTERNET OF THINGS IN INSURANCE MARKET - REVENUE AND FORECASTS TO 2028 - INSURANCE APPLICATION
9.1. OVERVIEW
9.2. INSURANCE APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. AUTOMOTIVE AND TRANSPORTATION
9.3.1. Overview
9.3.2. Automotive and Transportation Market Forecast and Analysis
9.4. HOME AND COMMERCIAL BUILDINGS
9.4.1. Overview
9.4.2. Home and Commercial Buildings Market Forecast and Analysis
9.5. LIFE AND HEALTH
9.5.1. Overview
9.5.2. Life and Health Market Forecast and Analysis
9.6. BUSINESS AND ENTERPRISE
9.6.1. Overview
9.6.2. Business and Enterprise Market Forecast and Analysis
9.7. CONSUMER ELECTRONICS AND INDUSTRIAL MACHINES
9.7.1. Overview
9.7.2. Consumer Electronics and Industrial Machines Market Forecast and Analysis
9.8. TRAVEL
9.8.1. Overview
9.8.2. Travel Market Forecast and Analysis
9.9. AGRICULTURE
9.9.1. Overview
9.9.2. Agriculture Market Forecast and Analysis
10. INTERNET OF THINGS IN INSURANCE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Internet Of Things In Insurance Market Overview
10.1.2 North America Internet Of Things In Insurance Market Forecasts and Analysis
10.1.3 North America Internet Of Things In Insurance Market Forecasts and Analysis - By Insurance Type
10.1.4 North America Internet Of Things In Insurance Market Forecasts and Analysis - By Component
10.1.5 North America Internet Of Things In Insurance Market Forecasts and Analysis - By Insurance Application
10.1.6 North America Internet Of Things In Insurance Market Forecasts and Analysis - By Countries
10.1.6.1 United States Internet Of Things In Insurance Market
10.1.6.1.1 United States Internet Of Things In Insurance Market by Insurance Type
10.1.6.1.2 United States Internet Of Things In Insurance Market by Component
10.1.6.1.3 United States Internet Of Things In Insurance Market by Insurance Application
10.1.6.2 Canada Internet Of Things In Insurance Market
10.1.6.2.1 Canada Internet Of Things In Insurance Market by Insurance Type
10.1.6.2.2 Canada Internet Of Things In Insurance Market by Component
10.1.6.2.3 Canada Internet Of Things In Insurance Market by Insurance Application
10.1.6.3 Mexico Internet Of Things In Insurance Market
10.1.6.3.1 Mexico Internet Of Things In Insurance Market by Insurance Type
10.1.6.3.2 Mexico Internet Of Things In Insurance Market by Component
10.1.6.3.3 Mexico Internet Of Things In Insurance Market by Insurance Application
10.2. EUROPE
10.2.1 Europe Internet Of Things In Insurance Market Overview
10.2.2 Europe Internet Of Things In Insurance Market Forecasts and Analysis
10.2.3 Europe Internet Of Things In Insurance Market Forecasts and Analysis - By Insurance Type
10.2.4 Europe Internet Of Things In Insurance Market Forecasts and Analysis - By Component
10.2.5 Europe Internet Of Things In Insurance Market Forecasts and Analysis - By Insurance Application
10.2.6 Europe Internet Of Things In Insurance Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Internet Of Things In Insurance Market
10.2.6.1.1 Germany Internet Of Things In Insurance Market by Insurance Type
10.2.6.1.2 Germany Internet Of Things In Insurance Market by Component
10.2.6.1.3 Germany Internet Of Things In Insurance Market by Insurance Application
10.2.6.2 France Internet Of Things In Insurance Market
10.2.6.2.1 France Internet Of Things In Insurance Market by Insurance Type
10.2.6.2.2 France Internet Of Things In Insurance Market by Component
10.2.6.2.3 France Internet Of Things In Insurance Market by Insurance Application
10.2.6.3 Italy Internet Of Things In Insurance Market
10.2.6.3.1 Italy Internet Of Things In Insurance Market by Insurance Type
10.2.6.3.2 Italy Internet Of Things In Insurance Market by Component
10.2.6.3.3 Italy Internet Of Things In Insurance Market by Insurance Application
10.2.6.4 United Kingdom Internet Of Things In Insurance Market
10.2.6.4.1 United Kingdom Internet Of Things In Insurance Market by Insurance Type
10.2.6.4.2 United Kingdom Internet Of Things In Insurance Market by Component
10.2.6.4.3 United Kingdom Internet Of Things In Insurance Market by Insurance Application
10.2.6.5 Russia Internet Of Things In Insurance Market
10.2.6.5.1 Russia Internet Of Things In Insurance Market by Insurance Type
10.2.6.5.2 Russia Internet Of Things In Insurance Market by Component
10.2.6.5.3 Russia Internet Of Things In Insurance Market by Insurance Application
10.2.6.6 Rest of Europe Internet Of Things In Insurance Market
10.2.6.6.1 Rest of Europe Internet Of Things In Insurance Market by Insurance Type
10.2.6.6.2 Rest of Europe Internet Of Things In Insurance Market by Component
10.2.6.6.3 Rest of Europe Internet Of Things In Insurance Market by Insurance Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Internet Of Things In Insurance Market Overview
10.3.2 Asia-Pacific Internet Of Things In Insurance Market Forecasts and Analysis
10.3.3 Asia-Pacific Internet Of Things In Insurance Market Forecasts and Analysis - By Insurance Type
10.3.4 Asia-Pacific Internet Of Things In Insurance Market Forecasts and Analysis - By Component
10.3.5 Asia-Pacific Internet Of Things In Insurance Market Forecasts and Analysis - By Insurance Application
10.3.6 Asia-Pacific Internet Of Things In Insurance Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Internet Of Things In Insurance Market
10.3.6.1.1 Australia Internet Of Things In Insurance Market by Insurance Type
10.3.6.1.2 Australia Internet Of Things In Insurance Market by Component
10.3.6.1.3 Australia Internet Of Things In Insurance Market by Insurance Application
10.3.6.2 China Internet Of Things In Insurance Market
10.3.6.2.1 China Internet Of Things In Insurance Market by Insurance Type
10.3.6.2.2 China Internet Of Things In Insurance Market by Component
10.3.6.2.3 China Internet Of Things In Insurance Market by Insurance Application
10.3.6.3 India Internet Of Things In Insurance Market
10.3.6.3.1 India Internet Of Things In Insurance Market by Insurance Type
10.3.6.3.2 India Internet Of Things In Insurance Market by Component
10.3.6.3.3 India Internet Of Things In Insurance Market by Insurance Application
10.3.6.4 Japan Internet Of Things In Insurance Market
10.3.6.4.1 Japan Internet Of Things In Insurance Market by Insurance Type
10.3.6.4.2 Japan Internet Of Things In Insurance Market by Component
10.3.6.4.3 Japan Internet Of Things In Insurance Market by Insurance Application
10.3.6.5 South Korea Internet Of Things In Insurance Market
10.3.6.5.1 South Korea Internet Of Things In Insurance Market by Insurance Type
10.3.6.5.2 South Korea Internet Of Things In Insurance Market by Component
10.3.6.5.3 South Korea Internet Of Things In Insurance Market by Insurance Application
10.3.6.6 Rest of Asia-Pacific Internet Of Things In Insurance Market
10.3.6.6.1 Rest of Asia-Pacific Internet Of Things In Insurance Market by Insurance Type
10.3.6.6.2 Rest of Asia-Pacific Internet Of Things In Insurance Market by Component
10.3.6.6.3 Rest of Asia-Pacific Internet Of Things In Insurance Market by Insurance Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Internet Of Things In Insurance Market Overview
10.4.2 Middle East and Africa Internet Of Things In Insurance Market Forecasts and Analysis
10.4.3 Middle East and Africa Internet Of Things In Insurance Market Forecasts and Analysis - By Insurance Type
10.4.4 Middle East and Africa Internet Of Things In Insurance Market Forecasts and Analysis - By Component
10.4.5 Middle East and Africa Internet Of Things In Insurance Market Forecasts and Analysis - By Insurance Application
10.4.6 Middle East and Africa Internet Of Things In Insurance Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Internet Of Things In Insurance Market
10.4.6.1.1 South Africa Internet Of Things In Insurance Market by Insurance Type
10.4.6.1.2 South Africa Internet Of Things In Insurance Market by Component
10.4.6.1.3 South Africa Internet Of Things In Insurance Market by Insurance Application
10.4.6.2 Saudi Arabia Internet Of Things In Insurance Market
10.4.6.2.1 Saudi Arabia Internet Of Things In Insurance Market by Insurance Type
10.4.6.2.2 Saudi Arabia Internet Of Things In Insurance Market by Component
10.4.6.2.3 Saudi Arabia Internet Of Things In Insurance Market by Insurance Application
10.4.6.3 U.A.E Internet Of Things In Insurance Market
10.4.6.3.1 U.A.E Internet Of Things In Insurance Market by Insurance Type
10.4.6.3.2 U.A.E Internet Of Things In Insurance Market by Component
10.4.6.3.3 U.A.E Internet Of Things In Insurance Market by Insurance Application
10.4.6.4 Rest of Middle East and Africa Internet Of Things In Insurance Market
10.4.6.4.1 Rest of Middle East and Africa Internet Of Things In Insurance Market by Insurance Type
10.4.6.4.2 Rest of Middle East and Africa Internet Of Things In Insurance Market by Component
10.4.6.4.3 Rest of Middle East and Africa Internet Of Things In Insurance Market by Insurance Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Internet Of Things In Insurance Market Overview
10.5.2 South and Central America Internet Of Things In Insurance Market Forecasts and Analysis
10.5.3 South and Central America Internet Of Things In Insurance Market Forecasts and Analysis - By Insurance Type
10.5.4 South and Central America Internet Of Things In Insurance Market Forecasts and Analysis - By Component
10.5.5 South and Central America Internet Of Things In Insurance Market Forecasts and Analysis - By Insurance Application
10.5.6 South and Central America Internet Of Things In Insurance Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Internet Of Things In Insurance Market
10.5.6.1.1 Brazil Internet Of Things In Insurance Market by Insurance Type
10.5.6.1.2 Brazil Internet Of Things In Insurance Market by Component
10.5.6.1.3 Brazil Internet Of Things In Insurance Market by Insurance Application
10.5.6.2 Argentina Internet Of Things In Insurance Market
10.5.6.2.1 Argentina Internet Of Things In Insurance Market by Insurance Type
10.5.6.2.2 Argentina Internet Of Things In Insurance Market by Component
10.5.6.2.3 Argentina Internet Of Things In Insurance Market by Insurance Application
10.5.6.3 Rest of South and Central America Internet Of Things In Insurance Market
10.5.6.3.1 Rest of South and Central America Internet Of Things In Insurance Market by Insurance Type
10.5.6.3.2 Rest of South and Central America Internet Of Things In Insurance Market by Component
10.5.6.3.3 Rest of South and Central America Internet Of Things In Insurance Market by Insurance 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. INTERNET OF THINGS IN INSURANCE MARKET, KEY COMPANY PROFILES
12.1. ACCENTURE PLC
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. CISCO SYSTEMS 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. INTERNATIONAL BUSINESS MACHINES 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. MICROSOFT 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. ORACLE 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. SAP SE
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. VERISK ANALYTICS, INC
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. ZONOFF 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. COGNIZANT TECHNOLOGY SOLUTIONS CORP
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. LEMONADE INC
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. Accenture PLC
2. Cisco Systems Inc
3. International Business Machines Corporation
4. Microsoft Corporation
5. Oracle Corporation
6. SAP SE
7. Verisk Analytics, Inc
8. Zonoff Inc
9. Cognizant Technology Solutions Corp
10. Lemonade Inc
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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