Intrusion Detection Systems Market Report and Share by 2031
The intrusion detection systems market is expected to register a CAGR of 7.1% during 2023–2031. Cloud-based and hybrid IDS solutions and focus on behavioural analysis and anomaly detection are likely to remain key trends in the market.
Intrusion Detection Systems Market Analysis
- The adoption of intrusion detection systems (IDS) is rapidly increasing worldwide, led by the growing concerns over cybersecurity threats, especially in large enterprises, mainly in the financial service and healthcare sectors.
- North America is the largest market by volume consumption, and the Asia-Pacific market is growing the fastest, thanks to digital transformation investments. IDS in the cloud is also growing rapidly, particularly among small and medium-sized enterprises (SMEs).
- The growth varies significantly by market and region, depending on environmental factors such as the level of cybersecurity threats, regulatory pressure, level of cybersecurity awareness, and the maturity of IT infrastructure. IDS adoption continues to increase as organisations prioritise cybersecurity with respect to the growing threat of cyber-attacks.
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Intrusion Detection Systems Market: Strategic Insights
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We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Intrusion Detection Systems Market: Strategic Insights
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Intrusion Detection Systems Market Overview
- The Intrusion Detection Systems (IDS) market is expanding at a fast rate due to the rise in number and sophistication of cyber threats.
- Cisco Systems, IBM, McAfee and Trend Micro are some major vendors in this market. North America accounts for the largest market share at present, whereas the highest growth is expected from Asia Pacific.
- Major trends include Artificial intelligence (AI), cloud-based IDS and integration with larger security ecosystems. The market is expected to grow at a good rate as enhancing cybersecurity is one of top priorities for organisations all over the world.
Intrusion Detection Systems Market Drivers and Opportunities
Growing Adoption of Cloud Services and IoT Devices to Favor the Market
- The cloud services and Internet of Things (IoT) device segment is the fastest growing among applications in the market. With an increase in the number of cloud-based applications and IoT devices implemented in organisations, there is an increase in vulnerabilities for cyberattack.
- As an organisation’s attack surface broadens with the addition of connected devices, the need for advanced IDS system is increasing to ensure security to their networking and sensitive data from potential security breaches.
- Furthermore, as more people are working remotely and using BYOD strategy, the security needs of those devices and networks that are accessed from home are also growing. Consequently, the requirement of intrusion detection and prevention systems is growing.
- The Intrusion Detection Systems (IDS) market is anticipated to witness a significant growth in the forthcoming years due to these evolving security necessities.
Expansion in Small and Medium-Sized Enterprises (SMEs)
- Increasing adoption of SMEs is driving IDS market growth. As SMEs are getting digitised and are moving towards cloud-based solutions to run their businesses, their operations are getting vulnerable to cyber threats. This has triggered the need for implementing more robust IDS to ensure security of their business operations, sensitive information and staying compliant to data protection regulations.
- There has been increase in the number of cyberattacks as well as data leaks in recent past. This has prompted many SMEs to consider managed IDS services to save cost as they do not have adequate in-house resources to keep up to date with contemporary IDS solutions.
- This is also dramatically increasing demand for IDS solutions to meet the needs of SMEs, which in turn is boosting market growth. The market for IDS is witnessing significant change as service providers are finding huge scope to innovate IDS solutions specifically for SMEs and are coming up with new offerings for SMEs, which is contributing to market growth.
Intrusion Detection Systems Market Report Segmentation Analysis
Key segments that contributed to the derivation of the intrusion detection systems market analysis are type, deployment, and industry.
- Based on type, the intrusion detection systems market is divided into host-based IDS, wireless IDS, network-based, and IDS.
- Based on the deployment, the intrusion detection systems market is divided into cloud and on-premise.
- Based on the industry, the intrusion detection systems market is divided into BFSI, IT and telecom, government and defense, healthcare, retail and ecommerce, manufacturing, and others.
Intrusion Detection Systems Market Share Analysis by Geography
- Intrusion Detection Systems Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering Intrusion Detection Systems market dynamics, such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the Intrusion Detection Systems market in these regions.
Intrusion Detection Systems Market Report Scope
Intrusion Detection Systems Market News and Recent Developments
The intrusion detection systems market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the intrusion detection systems market are listed below:
- Hillstone Networks, a leading provider of cybersecurity solutions, announces an exclusive partnership with Microlink (Microlink Solutions Berhad) in Malaysia. This strategic partnership brings together the expertise and experience of two industry leaders to deliver cutting-edge network security solutions to enterprises across Malaysia. With Hillstone’s innovative technology and Microlink’s extensive reach and commitment to customer satisfaction, this collaboration is poised to redefine the cybersecurity landscape in the region. (Source: Hillstone Networks, Press Release, May 2024)
Intrusion Detection Systems Market Report Coverage and Deliverables
The “Intrusion Detection Systems Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Intrusion detection systems market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Intrusion detection systems market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Intrusion detection systems market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the intrusion detection systems market
- Detailed company profiles
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.
Frequently Asked Questions
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
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 leading players operating in the intrusion detection systems market are Cisco Systems, Inc., Darktrace, FireEye, Inc., Hillstone Networks, Inc., Huawei Technologies Co., Ltd., IBM, McAfee, LLC., NSFOCUS, Palo Alto Networks, Trend Micro Incorporated.
Cloud-based and hybrid IDS solutions and focus on behavioural analysis and anomaly detection are likely to remain key trends in the market.
The global Intrusion Detection Systems market is expected to grow at a CAGR of 7.1% during the forecast period 2023 - 2031.
Increasing frequency and sophistication of cyber-attacks and growing adoption of cloud services and IoT devices are expected to drive the intrusion detection systems market.
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 Intrusion Detection Systems Market - By Type
1.3.2 Intrusion Detection Systems Market - By Deployment
1.3.3 Intrusion Detection Systems Market - By Industry
1.3.4 Intrusion Detection Systems Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. INTRUSION DETECTION SYSTEMS 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. INTRUSION DETECTION SYSTEMS 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. INTRUSION DETECTION SYSTEMS MARKET - GLOBAL MARKET ANALYSIS
6.1. INTRUSION DETECTION SYSTEMS - GLOBAL MARKET OVERVIEW
6.2. INTRUSION DETECTION SYSTEMS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. INTRUSION DETECTION SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. HOST-BASED IDS
7.3.1. Overview
7.3.2. Host-Based IDS Market Forecast and Analysis
7.4. WIRELESS IDS
7.4.1. Overview
7.4.2. Wireless IDS Market Forecast and Analysis
7.5. NETWORK-BASED
7.5.1. Overview
7.5.2. Network-Based Market Forecast and Analysis
7.6. IDS
7.6.1. Overview
7.6.2. IDS Market Forecast and Analysis
8. INTRUSION DETECTION SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT
8.1. OVERVIEW
8.2. DEPLOYMENT MARKET FORECASTS AND ANALYSIS
8.3. CLOUD
8.3.1. Overview
8.3.2. Cloud Market Forecast and Analysis
8.4. ON-PREMISE
8.4.1. Overview
8.4.2. On-premise Market Forecast and Analysis
9. INTRUSION DETECTION SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY
9.1. OVERVIEW
9.2. INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. BFSI
9.3.1. Overview
9.3.2. BFSI Market Forecast and Analysis
9.4. IT AND TELECOM
9.4.1. Overview
9.4.2. IT and Telecom Market Forecast and Analysis
9.5. GOVERNMENT AND DEFENSE
9.5.1. Overview
9.5.2. Government and Defense Market Forecast and Analysis
9.6. HEALTHCARE
9.6.1. Overview
9.6.2. Healthcare Market Forecast and Analysis
9.7. RETAIL AND ECOMMERCE
9.7.1. Overview
9.7.2. Retail and eCommerce Market Forecast and Analysis
9.8. MANUFACTURING
9.8.1. Overview
9.8.2. Manufacturing Market Forecast and Analysis
9.9. OTHERS
9.9.1. Overview
9.9.2. Others Market Forecast and Analysis
10. INTRUSION DETECTION SYSTEMS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Intrusion Detection Systems Market Overview
10.1.2 North America Intrusion Detection Systems Market Forecasts and Analysis
10.1.3 North America Intrusion Detection Systems Market Forecasts and Analysis - By Type
10.1.4 North America Intrusion Detection Systems Market Forecasts and Analysis - By Deployment
10.1.5 North America Intrusion Detection Systems Market Forecasts and Analysis - By Industry
10.1.6 North America Intrusion Detection Systems Market Forecasts and Analysis - By Countries
10.1.6.1 United States Intrusion Detection Systems Market
10.1.6.1.1 United States Intrusion Detection Systems Market by Type
10.1.6.1.2 United States Intrusion Detection Systems Market by Deployment
10.1.6.1.3 United States Intrusion Detection Systems Market by Industry
10.1.6.2 Canada Intrusion Detection Systems Market
10.1.6.2.1 Canada Intrusion Detection Systems Market by Type
10.1.6.2.2 Canada Intrusion Detection Systems Market by Deployment
10.1.6.2.3 Canada Intrusion Detection Systems Market by Industry
10.1.6.3 Mexico Intrusion Detection Systems Market
10.1.6.3.1 Mexico Intrusion Detection Systems Market by Type
10.1.6.3.2 Mexico Intrusion Detection Systems Market by Deployment
10.1.6.3.3 Mexico Intrusion Detection Systems Market by Industry
10.2. EUROPE
10.2.1 Europe Intrusion Detection Systems Market Overview
10.2.2 Europe Intrusion Detection Systems Market Forecasts and Analysis
10.2.3 Europe Intrusion Detection Systems Market Forecasts and Analysis - By Type
10.2.4 Europe Intrusion Detection Systems Market Forecasts and Analysis - By Deployment
10.2.5 Europe Intrusion Detection Systems Market Forecasts and Analysis - By Industry
10.2.6 Europe Intrusion Detection Systems Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Intrusion Detection Systems Market
10.2.6.1.1 Germany Intrusion Detection Systems Market by Type
10.2.6.1.2 Germany Intrusion Detection Systems Market by Deployment
10.2.6.1.3 Germany Intrusion Detection Systems Market by Industry
10.2.6.2 France Intrusion Detection Systems Market
10.2.6.2.1 France Intrusion Detection Systems Market by Type
10.2.6.2.2 France Intrusion Detection Systems Market by Deployment
10.2.6.2.3 France Intrusion Detection Systems Market by Industry
10.2.6.3 Italy Intrusion Detection Systems Market
10.2.6.3.1 Italy Intrusion Detection Systems Market by Type
10.2.6.3.2 Italy Intrusion Detection Systems Market by Deployment
10.2.6.3.3 Italy Intrusion Detection Systems Market by Industry
10.2.6.4 United Kingdom Intrusion Detection Systems Market
10.2.6.4.1 United Kingdom Intrusion Detection Systems Market by Type
10.2.6.4.2 United Kingdom Intrusion Detection Systems Market by Deployment
10.2.6.4.3 United Kingdom Intrusion Detection Systems Market by Industry
10.2.6.5 Russia Intrusion Detection Systems Market
10.2.6.5.1 Russia Intrusion Detection Systems Market by Type
10.2.6.5.2 Russia Intrusion Detection Systems Market by Deployment
10.2.6.5.3 Russia Intrusion Detection Systems Market by Industry
10.2.6.6 Rest of Europe Intrusion Detection Systems Market
10.2.6.6.1 Rest of Europe Intrusion Detection Systems Market by Type
10.2.6.6.2 Rest of Europe Intrusion Detection Systems Market by Deployment
10.2.6.6.3 Rest of Europe Intrusion Detection Systems Market by Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Intrusion Detection Systems Market Overview
10.3.2 Asia-Pacific Intrusion Detection Systems Market Forecasts and Analysis
10.3.3 Asia-Pacific Intrusion Detection Systems Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Intrusion Detection Systems Market Forecasts and Analysis - By Deployment
10.3.5 Asia-Pacific Intrusion Detection Systems Market Forecasts and Analysis - By Industry
10.3.6 Asia-Pacific Intrusion Detection Systems Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Intrusion Detection Systems Market
10.3.6.1.1 Australia Intrusion Detection Systems Market by Type
10.3.6.1.2 Australia Intrusion Detection Systems Market by Deployment
10.3.6.1.3 Australia Intrusion Detection Systems Market by Industry
10.3.6.2 China Intrusion Detection Systems Market
10.3.6.2.1 China Intrusion Detection Systems Market by Type
10.3.6.2.2 China Intrusion Detection Systems Market by Deployment
10.3.6.2.3 China Intrusion Detection Systems Market by Industry
10.3.6.3 India Intrusion Detection Systems Market
10.3.6.3.1 India Intrusion Detection Systems Market by Type
10.3.6.3.2 India Intrusion Detection Systems Market by Deployment
10.3.6.3.3 India Intrusion Detection Systems Market by Industry
10.3.6.4 Japan Intrusion Detection Systems Market
10.3.6.4.1 Japan Intrusion Detection Systems Market by Type
10.3.6.4.2 Japan Intrusion Detection Systems Market by Deployment
10.3.6.4.3 Japan Intrusion Detection Systems Market by Industry
10.3.6.5 South Korea Intrusion Detection Systems Market
10.3.6.5.1 South Korea Intrusion Detection Systems Market by Type
10.3.6.5.2 South Korea Intrusion Detection Systems Market by Deployment
10.3.6.5.3 South Korea Intrusion Detection Systems Market by Industry
10.3.6.6 Rest of Asia-Pacific Intrusion Detection Systems Market
10.3.6.6.1 Rest of Asia-Pacific Intrusion Detection Systems Market by Type
10.3.6.6.2 Rest of Asia-Pacific Intrusion Detection Systems Market by Deployment
10.3.6.6.3 Rest of Asia-Pacific Intrusion Detection Systems Market by Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Intrusion Detection Systems Market Overview
10.4.2 Middle East and Africa Intrusion Detection Systems Market Forecasts and Analysis
10.4.3 Middle East and Africa Intrusion Detection Systems Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Intrusion Detection Systems Market Forecasts and Analysis - By Deployment
10.4.5 Middle East and Africa Intrusion Detection Systems Market Forecasts and Analysis - By Industry
10.4.6 Middle East and Africa Intrusion Detection Systems Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Intrusion Detection Systems Market
10.4.6.1.1 South Africa Intrusion Detection Systems Market by Type
10.4.6.1.2 South Africa Intrusion Detection Systems Market by Deployment
10.4.6.1.3 South Africa Intrusion Detection Systems Market by Industry
10.4.6.2 Saudi Arabia Intrusion Detection Systems Market
10.4.6.2.1 Saudi Arabia Intrusion Detection Systems Market by Type
10.4.6.2.2 Saudi Arabia Intrusion Detection Systems Market by Deployment
10.4.6.2.3 Saudi Arabia Intrusion Detection Systems Market by Industry
10.4.6.3 U.A.E Intrusion Detection Systems Market
10.4.6.3.1 U.A.E Intrusion Detection Systems Market by Type
10.4.6.3.2 U.A.E Intrusion Detection Systems Market by Deployment
10.4.6.3.3 U.A.E Intrusion Detection Systems Market by Industry
10.4.6.4 Rest of Middle East and Africa Intrusion Detection Systems Market
10.4.6.4.1 Rest of Middle East and Africa Intrusion Detection Systems Market by Type
10.4.6.4.2 Rest of Middle East and Africa Intrusion Detection Systems Market by Deployment
10.4.6.4.3 Rest of Middle East and Africa Intrusion Detection Systems Market by Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Intrusion Detection Systems Market Overview
10.5.2 South and Central America Intrusion Detection Systems Market Forecasts and Analysis
10.5.3 South and Central America Intrusion Detection Systems Market Forecasts and Analysis - By Type
10.5.4 South and Central America Intrusion Detection Systems Market Forecasts and Analysis - By Deployment
10.5.5 South and Central America Intrusion Detection Systems Market Forecasts and Analysis - By Industry
10.5.6 South and Central America Intrusion Detection Systems Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Intrusion Detection Systems Market
10.5.6.1.1 Brazil Intrusion Detection Systems Market by Type
10.5.6.1.2 Brazil Intrusion Detection Systems Market by Deployment
10.5.6.1.3 Brazil Intrusion Detection Systems Market by Industry
10.5.6.2 Argentina Intrusion Detection Systems Market
10.5.6.2.1 Argentina Intrusion Detection Systems Market by Type
10.5.6.2.2 Argentina Intrusion Detection Systems Market by Deployment
10.5.6.2.3 Argentina Intrusion Detection Systems Market by Industry
10.5.6.3 Rest of South and Central America Intrusion Detection Systems Market
10.5.6.3.1 Rest of South and Central America Intrusion Detection Systems Market by Type
10.5.6.3.2 Rest of South and Central America Intrusion Detection Systems Market by Deployment
10.5.6.3.3 Rest of South and Central America Intrusion Detection Systems Market by Industry
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. INTRUSION DETECTION SYSTEMS MARKET, KEY COMPANY PROFILES
12.1. CISCO SYSTEMS, INC.
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. DARKTRACE
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. FIREEYE, INC.
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. HILLSTONE NETWORKS, INC.
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. HUAWEI TECHNOLOGIES CO., LTD.
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. IBM
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. MCAFEE, LLC.
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. NSFOCUS
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. PALO ALTO NETWORKS
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. TREND MICRO INCORPORATED
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1.Cisco Systems, Inc.
2.Darktrace
3.FireEye, Inc.
4.Hillstone Networks, Inc.
5.Huawei Technologies Co., Ltd.
6.IBM
7.McAfee, LLC.
8.NSFOCUS
9.Palo Alto Networks
10.Trend Micro Incorporated
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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