The IoT device management Market is expected to register a CAGR of 30.3% 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 Component (Solution and Services), Organization Size (Large Enterprises and SMEs), Industry Vertical (Retail, Healthcare, Transportation, Utilities, Manufacturing, and 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 Report
The report IoT device management 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.
IoT device management Market Segmentation
Component
- Solution and Services
Organization Size
- Large Enterprises and SMEs
Industry Vertical
- Retail
- Healthcare
- Transportation
- Utilities
- Manufacturing
Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South and Central America
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IoT Device Management Market: Strategic Insights
| Market Size Value in | US$ 2.70 billion in 2022 |
| Market Size Value by | US$ 23.67 billion by 2030 |
| Growth rate | CAGR of 31.20% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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IoT device management Market Growth Drivers
- Rapid Growth in IoT Device Adoption: The growing number of IoT devices deployed in industries such as manufacturing, healthcare, transportation, and smart cities is driving the need for robust device management solutions. As businesses install hundreds or even millions of devices, they need reliable solutions to remotely monitor, operate, and maintain them, assuring consistent performance, security, and scalability.
- Need for Improved Device Security and Compliance: As the integration of IoT devices into the very fabric of company operations has grown, so have the associated security vulnerabilities. Cybersecurity dangers, such as data breaches, hacking, and malware, are on the rise. IoT device management solutions mitigate these risks by providing features like secure onboarding, firmware updates, authentication, and access control. Compliance with evolving data protection regulations, such as GDPR and CCPA, further fuels the demand for a more secure and compliant device management system.
IoT device management Market Future Trends
- Cloud-Based Device Management Solutions: There is an increasing trend toward cloud-based IoT device management platforms. Cloud solutions provide scalability, cost efficiency, and flexibility, so businesses can manage large fleets of IoT devices from anywhere in the world. Compliance with rising data protection standards, such as GDPR and CCPA, drives up the demand for a more secure and compliant device management solution.
- AI and ML Integration for Predictive Management: AI and ML integration into IoT device management platforms enables predictive maintenance and smart management of devices. Such technologies may observe device behavior patterns, predict failures, optimize their performances, and even automate management activities. Organizations can thus transition from reactive management to proactive management, minimize downtime, and improve the overall reliability of IoT devices.
IoT device management Market Opportunities
- Expansion in Healthcare and Wearables: The healthcare sector is experiencing quite a high growth rate in adoption of IoT devices, which extends from remote patient monitoring to more medical wearables. Great opportunities lie in managing different IoT devices tailored for different healthcare environments, ensuring safe handling, real-time monitoring, and remote diagnostics of medical apparatus. With the rise in healthcare IoT devices, effective and compliant device management systems will continue to increase significantly.
- Expansion of Smart Homes and Appliances: As smart home adoption grows, the need for efficient IoT device management systems increases. These systems enable centralized control and monitoring of connected devices like thermostats, lighting, and security systems. The expanding smart home market presents opportunities for device management solutions to enhance user experience and security.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the IoT device management 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 IoT device management 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.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Organization Size, and Industry Vertical
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
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
Deployment of 5G for Real-Time Connectivity is likely to remain a key trend in the market.
Key players in the IoT device management market include Advantech Co., Ltd., Aeris Communication, Inc, Bosch Global Software Technologies, Cumulocity GmbH, International Business Machines Corporation (IBM), Microsoft Corp., Oracle Corp., PTC Inc., and Smith Micro Software, Inc.
The IoT device management market is estimated to witness a US$ XX Million by 2031
The major factors driving the IoT device management market are:
1. Rapid Growth in IoT Device Adoption
2.Need for Improved Device Security and Compliance
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 IoT Device Management Market - By Component
1.3.2 IoT Device Management Market - By Deployment Model
1.3.3 IoT Device Management Market - By Enterprise Size
1.3.4 IoT Device Management Market - By Application
1.3.5 IoT Device Management Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. IOT DEVICE MANAGEMENT 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. IOT DEVICE MANAGEMENT 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. IOT DEVICE MANAGEMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. IOT DEVICE MANAGEMENT - GLOBAL MARKET OVERVIEW
6.2. IOT DEVICE MANAGEMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. IOT DEVICE MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. SOLUTION
7.3.1. Overview
7.3.2. Solution Market Forecast and Analysis
7.3.3. Real-Time Streaming Analytics Market
7.3.3.1. Overview
7.3.3.2. Real-Time Streaming Analytics Market Forecast and Analysis
7.3.4. Security Solution Market
7.3.4.1. Overview
7.3.4.2. Security Solution Market Forecast and Analysis
7.3.5. Data Management Market
7.3.5.1. Overview
7.3.5.2. Data Management Market Forecast and Analysis
7.3.6. Remote Monitoring Market
7.3.6.1. Overview
7.3.6.2. Remote Monitoring Market Forecast and Analysis
7.3.7. Network Bandwidth Management Market
7.3.7.1. Overview
7.3.7.2. Network Bandwidth Management Market Forecast and Analysis
7.4. SERVICES
7.4.1. Overview
7.4.2. Services Market Forecast and Analysis
7.4.3. Professional Services Market
7.4.3.1. Overview
7.4.3.2. Professional Services Market Forecast and Analysis
7.4.4. Managed Services Market
7.4.4.1. Overview
7.4.4.2. Managed Services Market Forecast and Analysis
8. IOT DEVICE MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT MODEL
8.1. OVERVIEW
8.2. DEPLOYMENT MODEL MARKET FORECASTS AND ANALYSIS
8.3. PUBLIC CLOUD
8.3.1. Overview
8.3.2. Public Cloud Market Forecast and Analysis
8.4. PRIVATE CLOUD
8.4.1. Overview
8.4.2. Private Cloud Market Forecast and Analysis
8.5. HYBRID CLOUD
8.5.1. Overview
8.5.2. Hybrid Cloud Market Forecast and Analysis
9. IOT DEVICE MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - ENTERPRISE SIZE
9.1. OVERVIEW
9.2. ENTERPRISE SIZE MARKET FORECASTS AND ANALYSIS
9.3. SMALL AND MEDIUM-SIZE ENTERPRISES
9.3.1. Overview
9.3.2. Small and Medium-Size Enterprises Market Forecast and Analysis
9.4. LARGE ENTERPRISES
9.4.1. Overview
9.4.2. Large Enterprises Market Forecast and Analysis
10. IOT DEVICE MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
10.1. OVERVIEW
10.2. APPLICATION MARKET FORECASTS AND ANALYSIS
10.3. SMART RETAIL
10.3.1. Overview
10.3.2. Smart Retail Market Forecast and Analysis
10.4. CONNECTED HEALTH
10.4.1. Overview
10.4.2. Connected Health Market Forecast and Analysis
10.5. CONNECTED LOGISTICS
10.5.1. Overview
10.5.2. Connected Logistics Market Forecast and Analysis
10.6. SMART UTILITIES
10.6.1. Overview
10.6.2. Smart Utilities Market Forecast and Analysis
10.7. SMART MANUFACTURING
10.7.1. Overview
10.7.2. Smart Manufacturing Market Forecast and Analysis
10.8. OTHERS
10.8.1. Overview
10.8.2. Others Market Forecast and Analysis
11. IOT DEVICE MANAGEMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America IoT Device Management Market Overview
11.1.2 North America IoT Device Management Market Forecasts and Analysis
11.1.3 North America IoT Device Management Market Forecasts and Analysis - By Component
11.1.4 North America IoT Device Management Market Forecasts and Analysis - By Deployment Model
11.1.5 North America IoT Device Management Market Forecasts and Analysis - By Enterprise Size
11.1.6 North America IoT Device Management Market Forecasts and Analysis - By Application
11.1.7 North America IoT Device Management Market Forecasts and Analysis - By Countries
11.1.7.1 United States IoT Device Management Market
11.1.7.1.1 United States IoT Device Management Market by Component
11.1.7.1.2 United States IoT Device Management Market by Deployment Model
11.1.7.1.3 United States IoT Device Management Market by Enterprise Size
11.1.7.1.4 United States IoT Device Management Market by Application
11.1.7.2 Canada IoT Device Management Market
11.1.7.2.1 Canada IoT Device Management Market by Component
11.1.7.2.2 Canada IoT Device Management Market by Deployment Model
11.1.7.2.3 Canada IoT Device Management Market by Enterprise Size
11.1.7.2.4 Canada IoT Device Management Market by Application
11.1.7.3 Mexico IoT Device Management Market
11.1.7.3.1 Mexico IoT Device Management Market by Component
11.1.7.3.2 Mexico IoT Device Management Market by Deployment Model
11.1.7.3.3 Mexico IoT Device Management Market by Enterprise Size
11.1.7.3.4 Mexico IoT Device Management Market by Application
11.2. EUROPE
11.2.1 Europe IoT Device Management Market Overview
11.2.2 Europe IoT Device Management Market Forecasts and Analysis
11.2.3 Europe IoT Device Management Market Forecasts and Analysis - By Component
11.2.4 Europe IoT Device Management Market Forecasts and Analysis - By Deployment Model
11.2.5 Europe IoT Device Management Market Forecasts and Analysis - By Enterprise Size
11.2.6 Europe IoT Device Management Market Forecasts and Analysis - By Application
11.2.7 Europe IoT Device Management Market Forecasts and Analysis - By Countries
11.2.7.1 Germany IoT Device Management Market
11.2.7.1.1 Germany IoT Device Management Market by Component
11.2.7.1.2 Germany IoT Device Management Market by Deployment Model
11.2.7.1.3 Germany IoT Device Management Market by Enterprise Size
11.2.7.1.4 Germany IoT Device Management Market by Application
11.2.7.2 France IoT Device Management Market
11.2.7.2.1 France IoT Device Management Market by Component
11.2.7.2.2 France IoT Device Management Market by Deployment Model
11.2.7.2.3 France IoT Device Management Market by Enterprise Size
11.2.7.2.4 France IoT Device Management Market by Application
11.2.7.3 Italy IoT Device Management Market
11.2.7.3.1 Italy IoT Device Management Market by Component
11.2.7.3.2 Italy IoT Device Management Market by Deployment Model
11.2.7.3.3 Italy IoT Device Management Market by Enterprise Size
11.2.7.3.4 Italy IoT Device Management Market by Application
11.2.7.4 United Kingdom IoT Device Management Market
11.2.7.4.1 United Kingdom IoT Device Management Market by Component
11.2.7.4.2 United Kingdom IoT Device Management Market by Deployment Model
11.2.7.4.3 United Kingdom IoT Device Management Market by Enterprise Size
11.2.7.4.4 United Kingdom IoT Device Management Market by Application
11.2.7.5 Russia IoT Device Management Market
11.2.7.5.1 Russia IoT Device Management Market by Component
11.2.7.5.2 Russia IoT Device Management Market by Deployment Model
11.2.7.5.3 Russia IoT Device Management Market by Enterprise Size
11.2.7.5.4 Russia IoT Device Management Market by Application
11.2.7.6 Rest of Europe IoT Device Management Market
11.2.7.6.1 Rest of Europe IoT Device Management Market by Component
11.2.7.6.2 Rest of Europe IoT Device Management Market by Deployment Model
11.2.7.6.3 Rest of Europe IoT Device Management Market by Enterprise Size
11.2.7.6.4 Rest of Europe IoT Device Management Market by Application
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific IoT Device Management Market Overview
11.3.2 Asia-Pacific IoT Device Management Market Forecasts and Analysis
11.3.3 Asia-Pacific IoT Device Management Market Forecasts and Analysis - By Component
11.3.4 Asia-Pacific IoT Device Management Market Forecasts and Analysis - By Deployment Model
11.3.5 Asia-Pacific IoT Device Management Market Forecasts and Analysis - By Enterprise Size
11.3.6 Asia-Pacific IoT Device Management Market Forecasts and Analysis - By Application
11.3.7 Asia-Pacific IoT Device Management Market Forecasts and Analysis - By Countries
11.3.7.1 Australia IoT Device Management Market
11.3.7.1.1 Australia IoT Device Management Market by Component
11.3.7.1.2 Australia IoT Device Management Market by Deployment Model
11.3.7.1.3 Australia IoT Device Management Market by Enterprise Size
11.3.7.1.4 Australia IoT Device Management Market by Application
11.3.7.2 China IoT Device Management Market
11.3.7.2.1 China IoT Device Management Market by Component
11.3.7.2.2 China IoT Device Management Market by Deployment Model
11.3.7.2.3 China IoT Device Management Market by Enterprise Size
11.3.7.2.4 China IoT Device Management Market by Application
11.3.7.3 India IoT Device Management Market
11.3.7.3.1 India IoT Device Management Market by Component
11.3.7.3.2 India IoT Device Management Market by Deployment Model
11.3.7.3.3 India IoT Device Management Market by Enterprise Size
11.3.7.3.4 India IoT Device Management Market by Application
11.3.7.4 Japan IoT Device Management Market
11.3.7.4.1 Japan IoT Device Management Market by Component
11.3.7.4.2 Japan IoT Device Management Market by Deployment Model
11.3.7.4.3 Japan IoT Device Management Market by Enterprise Size
11.3.7.4.4 Japan IoT Device Management Market by Application
11.3.7.5 South Korea IoT Device Management Market
11.3.7.5.1 South Korea IoT Device Management Market by Component
11.3.7.5.2 South Korea IoT Device Management Market by Deployment Model
11.3.7.5.3 South Korea IoT Device Management Market by Enterprise Size
11.3.7.5.4 South Korea IoT Device Management Market by Application
11.3.7.6 Rest of Asia-Pacific IoT Device Management Market
11.3.7.6.1 Rest of Asia-Pacific IoT Device Management Market by Component
11.3.7.6.2 Rest of Asia-Pacific IoT Device Management Market by Deployment Model
11.3.7.6.3 Rest of Asia-Pacific IoT Device Management Market by Enterprise Size
11.3.7.6.4 Rest of Asia-Pacific IoT Device Management Market by Application
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa IoT Device Management Market Overview
11.4.2 Middle East and Africa IoT Device Management Market Forecasts and Analysis
11.4.3 Middle East and Africa IoT Device Management Market Forecasts and Analysis - By Component
11.4.4 Middle East and Africa IoT Device Management Market Forecasts and Analysis - By Deployment Model
11.4.5 Middle East and Africa IoT Device Management Market Forecasts and Analysis - By Enterprise Size
11.4.6 Middle East and Africa IoT Device Management Market Forecasts and Analysis - By Application
11.4.7 Middle East and Africa IoT Device Management Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa IoT Device Management Market
11.4.7.1.1 South Africa IoT Device Management Market by Component
11.4.7.1.2 South Africa IoT Device Management Market by Deployment Model
11.4.7.1.3 South Africa IoT Device Management Market by Enterprise Size
11.4.7.1.4 South Africa IoT Device Management Market by Application
11.4.7.2 Saudi Arabia IoT Device Management Market
11.4.7.2.1 Saudi Arabia IoT Device Management Market by Component
11.4.7.2.2 Saudi Arabia IoT Device Management Market by Deployment Model
11.4.7.2.3 Saudi Arabia IoT Device Management Market by Enterprise Size
11.4.7.2.4 Saudi Arabia IoT Device Management Market by Application
11.4.7.3 U.A.E IoT Device Management Market
11.4.7.3.1 U.A.E IoT Device Management Market by Component
11.4.7.3.2 U.A.E IoT Device Management Market by Deployment Model
11.4.7.3.3 U.A.E IoT Device Management Market by Enterprise Size
11.4.7.3.4 U.A.E IoT Device Management Market by Application
11.4.7.4 Rest of Middle East and Africa IoT Device Management Market
11.4.7.4.1 Rest of Middle East and Africa IoT Device Management Market by Component
11.4.7.4.2 Rest of Middle East and Africa IoT Device Management Market by Deployment Model
11.4.7.4.3 Rest of Middle East and Africa IoT Device Management Market by Enterprise Size
11.4.7.4.4 Rest of Middle East and Africa IoT Device Management Market by Application
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America IoT Device Management Market Overview
11.5.2 South and Central America IoT Device Management Market Forecasts and Analysis
11.5.3 South and Central America IoT Device Management Market Forecasts and Analysis - By Component
11.5.4 South and Central America IoT Device Management Market Forecasts and Analysis - By Deployment Model
11.5.5 South and Central America IoT Device Management Market Forecasts and Analysis - By Enterprise Size
11.5.6 South and Central America IoT Device Management Market Forecasts and Analysis - By Application
11.5.7 South and Central America IoT Device Management Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil IoT Device Management Market
11.5.7.1.1 Brazil IoT Device Management Market by Component
11.5.7.1.2 Brazil IoT Device Management Market by Deployment Model
11.5.7.1.3 Brazil IoT Device Management Market by Enterprise Size
11.5.7.1.4 Brazil IoT Device Management Market by Application
11.5.7.2 Argentina IoT Device Management Market
11.5.7.2.1 Argentina IoT Device Management Market by Component
11.5.7.2.2 Argentina IoT Device Management Market by Deployment Model
11.5.7.2.3 Argentina IoT Device Management Market by Enterprise Size
11.5.7.2.4 Argentina IoT Device Management Market by Application
11.5.7.3 Rest of South and Central America IoT Device Management Market
11.5.7.3.1 Rest of South and Central America IoT Device Management Market by Component
11.5.7.3.2 Rest of South and Central America IoT Device Management Market by Deployment Model
11.5.7.3.3 Rest of South and Central America IoT Device Management Market by Enterprise Size
11.5.7.3.4 Rest of South and Central America IoT Device Management Market by Application
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. IOT DEVICE MANAGEMENT MARKET, KEY COMPANY PROFILES
13.1. ADVANTECH CO., LTD.
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. AERIS
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. AMAZON WEB SERVICES, 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. CUMULOCITY GMBH
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. IBM CORPORATION
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. MICROSOFT CORPORATION
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. ORACLE CORPORATION
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. PTC INC.
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. TELIT
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. VMWARE, INC.
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
The List of Companies
1. Advantech Co., Ltd.
2. Aeris
3. Amazon Web Services, Inc.
4. Cumulocity GmbH
5. IBM Corporation
6. Microsoft Corporation
7.Oracle Corporation
8. PTC Inc.
9. Telit
10. VMware, 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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