The IT-Enabled Healthcare Market is expected to register a CAGR of 15.5% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The IT-Enabled Healthcare Market report offers a detailed analysis segmented by technology type, application, end user, and geography. It includes a regional breakdown that highlights key markets and countries, providing a comprehensive global perspective. Market evaluations are presented in US dollars (US$), delivering insights into market dynamics, growth trends, and competitive landscapes across various regions.
This analysis empowers stakeholders to identify potential opportunities and make informed decisions in the rapidly evolving IT-enabled healthcare landscape. By examining current challenges and emerging trends, the report equips healthcare organizations and investors with the knowledge needed to navigate the complexities of digital transformation and optimize their operations effectively.
The report IT-Enabled Healthcare 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.
IT-Enabled Healthcare Market Segmentation
Technology- Remote Patient monitoring
- Healthcare diagnostics
- Others
- Physicians
- Public/Private
- Healthcare institutions
- Others
- Electronic Medical Record
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
IT-Enabled Healthcare Market Growth Drivers- Demand for Telemedicine and Remote Patient Monitoring Skyrocketed: The adoption of telemedicine in the pandemic phase of COVID-19 was because healthcare facilitators needed such tools in the form of kits, and wearables, and this was expected to drive the market further upwards, allowing real-time data sharing, especially in the case of patients suffering from chronic diseases.
- Government Initiatives and Policies: Via the HITECH Act, the US government has provided $27 billion in incentives for adopting EHRs. EHR adoption grew from 3.2% in 2008 to 78% in 2021.
- Healthcare digitalization: Different government initiatives have been undertaken for quite some time in the US, UK, and India among many other countries to support healthcare digitalization. All these policies support hospitals and clinics in adopting IT-related solutions by providing financial incentives to improve data managed.
- Wearable Technology: Wearable technology is gaining popularity globally; by 2021, 533.6 million wearables will be sold, and this is expected to surge steeply. The remote patient monitoring market is estimated to grow to approximately US$ 29,062.30 mln by 2028.
- Remote Disease Management: One of the key factors contributing to remote patient monitoring utilization has been found to be increased demand for remote disease management. It is the dominantly used technology in healthcare that is going to surge more and cross US$ 16.3 billion in revenue by the end of 2030. Security features and interoperability are the reasons blockchain technology is emphasized.
- Interoperable Systems: Growing complexity within healthcare and demand for interoperable systems is on its way up. Both wearable and interoperable technologies enable companies to fulfill the demand for interoperable systems. These are the trends most likely to have a positive impact on the market share of IT-enabled healthcare since this market is at an initial phase of digitalization and the competency of providing data-centric initiatives leads to better customers globally.
- Expansion in Telemedicine sector: Looking at the growth of telemedicine, adoption of advanced virtual care platforms is anticipated to gain an upward traction. IT-enabled healthcare market opportunities exist in integration of AI-powered diagnosis tools, secure communication, and video conferencing to enhance patient-provider experience.
- AI and Data Analytics : An opportunity for Start-up- Growing adoptio of AI and machine learning in healthcare has opened doors of opportunities for startups in healthcare sector. Development of predictive analytics tools, personalised treatment solutions and precision medicine will be key areas where automated diagnostics can be beneficial.
- Scope for Interoperability in future Healthcare sector: The market for seamless data interchange between healthcare systems, or healthcare interoperability, was estimated to be worth $2.9 billion in 2021 and is projected to reach $6.4 billion by 2026. Businesses can take advantage of this by creating platforms that link various healthcare systems, enhancing patient outcomes and care coordination.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the IT-Enabled Healthcare 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 IT-Enabled Healthcare 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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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.
Key players in this market are -3M, Optum, Cognizant, Koninklijke Philips NV, McKesson Corporation, Change Healthcare, Cerner Corporation, Dell Inc, Airstrip Technologies Inc
The market is expected to register a CAGR of 15.5% during 2023-2031
Expansion in telemedicine, AI and Data Analytics, and supportive government policies and regulations are key drivers of IT-enabled healthcare market
Rise of interoperable systems, Remote disease management and remote patient monitoring are anticipated to remain key trends in this market
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 IT-Enabled Healthcare Market - By Type
1.3.2 IT-Enabled Healthcare Market - By Technology
1.3.3 IT-Enabled Healthcare Market - By End User
1.3.4 IT-Enabled Healthcare Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. IT-ENABLED HEALTHCARE 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. EXPERT OPINIONS
5. IT-ENABLED HEALTHCARE 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. IT-ENABLED HEALTHCARE MARKET - GLOBAL MARKET ANALYSIS
6.1. IT-ENABLED HEALTHCARE - GLOBAL MARKET OVERVIEW
6.2. IT-ENABLED HEALTHCARE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. IT-ENABLED HEALTHCARE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. ELECTRONIC MEDICAL RECORD (EMR)
7.3.1. Overview
7.3.2. Electronic Medical Record (EMR) Market Forecast and Analysis
7.4. ADMINISTRATIVE INFORMATION SYSTEMS (AIS)
7.4.1. Overview
7.4.2. Administrative Information Systems (AIS) Market Forecast and Analysis
7.5. COMPUTER-AIDED DIAGNOSIS (CAD)
7.5.1. Overview
7.5.2. Computer-Aided Diagnosis (CAD) Market Forecast and Analysis
7.6. NURSING INFORMATION SYSTEMS (NIS)
7.6.1. Overview
7.6.2. Nursing Information Systems (NIS) Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. IT-ENABLED HEALTHCARE MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. REMOTE PATIENT MONITORING
8.3.1. Overview
8.3.2. Remote Patient Monitoring Market Forecast and Analysis
8.4. HEALTHCARE DIAGNOSTICS
8.4.1. Overview
8.4.2. Healthcare Diagnostics Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. IT-ENABLED HEALTHCARE MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. PHYSICIANS
9.3.1. Overview
9.3.2. Physicians Market Forecast and Analysis
9.4. PUBLIC/PRIVATE HEALTHCARE INSTITUTIONS
9.4.1. Overview
9.4.2. Public/Private Healthcare Institutions Market Forecast and Analysis
9.5. HEALTHCARE WORKERS
9.5.1. Overview
9.5.2. Healthcare Workers Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. IT-ENABLED HEALTHCARE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America IT-Enabled Healthcare Market Overview
10.1.2 North America IT-Enabled Healthcare Market Forecasts and Analysis
10.1.3 North America IT-Enabled Healthcare Market Forecasts and Analysis - By Type
10.1.4 North America IT-Enabled Healthcare Market Forecasts and Analysis - By Technology
10.1.5 North America IT-Enabled Healthcare Market Forecasts and Analysis - By End User
10.1.6 North America IT-Enabled Healthcare Market Forecasts and Analysis - By Countries
10.1.6.1 United States IT-Enabled Healthcare Market
10.1.6.1.1 United States IT-Enabled Healthcare Market by Type
10.1.6.1.2 United States IT-Enabled Healthcare Market by Technology
10.1.6.1.3 United States IT-Enabled Healthcare Market by End User
10.1.6.2 Canada IT-Enabled Healthcare Market
10.1.6.2.1 Canada IT-Enabled Healthcare Market by Type
10.1.6.2.2 Canada IT-Enabled Healthcare Market by Technology
10.1.6.2.3 Canada IT-Enabled Healthcare Market by End User
10.1.6.3 Mexico IT-Enabled Healthcare Market
10.1.6.3.1 Mexico IT-Enabled Healthcare Market by Type
10.1.6.3.2 Mexico IT-Enabled Healthcare Market by Technology
10.1.6.3.3 Mexico IT-Enabled Healthcare Market by End User
10.2. EUROPE
10.2.1 Europe IT-Enabled Healthcare Market Overview
10.2.2 Europe IT-Enabled Healthcare Market Forecasts and Analysis
10.2.3 Europe IT-Enabled Healthcare Market Forecasts and Analysis - By Type
10.2.4 Europe IT-Enabled Healthcare Market Forecasts and Analysis - By Technology
10.2.5 Europe IT-Enabled Healthcare Market Forecasts and Analysis - By End User
10.2.6 Europe IT-Enabled Healthcare Market Forecasts and Analysis - By Countries
10.2.6.1 Germany IT-Enabled Healthcare Market
10.2.6.1.1 Germany IT-Enabled Healthcare Market by Type
10.2.6.1.2 Germany IT-Enabled Healthcare Market by Technology
10.2.6.1.3 Germany IT-Enabled Healthcare Market by End User
10.2.6.2 France IT-Enabled Healthcare Market
10.2.6.2.1 France IT-Enabled Healthcare Market by Type
10.2.6.2.2 France IT-Enabled Healthcare Market by Technology
10.2.6.2.3 France IT-Enabled Healthcare Market by End User
10.2.6.3 Italy IT-Enabled Healthcare Market
10.2.6.3.1 Italy IT-Enabled Healthcare Market by Type
10.2.6.3.2 Italy IT-Enabled Healthcare Market by Technology
10.2.6.3.3 Italy IT-Enabled Healthcare Market by End User
10.2.6.4 Spain IT-Enabled Healthcare Market
10.2.6.4.1 Spain IT-Enabled Healthcare Market by Type
10.2.6.4.2 Spain IT-Enabled Healthcare Market by Technology
10.2.6.4.3 Spain IT-Enabled Healthcare Market by End User
10.2.6.5 United Kingdom IT-Enabled Healthcare Market
10.2.6.5.1 United Kingdom IT-Enabled Healthcare Market by Type
10.2.6.5.2 United Kingdom IT-Enabled Healthcare Market by Technology
10.2.6.5.3 United Kingdom IT-Enabled Healthcare Market by End User
10.2.6.6 Rest of Europe IT-Enabled Healthcare Market
10.2.6.6.1 Rest of Europe IT-Enabled Healthcare Market by Type
10.2.6.6.2 Rest of Europe IT-Enabled Healthcare Market by Technology
10.2.6.6.3 Rest of Europe IT-Enabled Healthcare Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific IT-Enabled Healthcare Market Overview
10.3.2 Asia-Pacific IT-Enabled Healthcare Market Forecasts and Analysis
10.3.3 Asia-Pacific IT-Enabled Healthcare Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific IT-Enabled Healthcare Market Forecasts and Analysis - By Technology
10.3.5 Asia-Pacific IT-Enabled Healthcare Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific IT-Enabled Healthcare Market Forecasts and Analysis - By Countries
10.3.6.1 Australia IT-Enabled Healthcare Market
10.3.6.1.1 Australia IT-Enabled Healthcare Market by Type
10.3.6.1.2 Australia IT-Enabled Healthcare Market by Technology
10.3.6.1.3 Australia IT-Enabled Healthcare Market by End User
10.3.6.2 China IT-Enabled Healthcare Market
10.3.6.2.1 China IT-Enabled Healthcare Market by Type
10.3.6.2.2 China IT-Enabled Healthcare Market by Technology
10.3.6.2.3 China IT-Enabled Healthcare Market by End User
10.3.6.3 India IT-Enabled Healthcare Market
10.3.6.3.1 India IT-Enabled Healthcare Market by Type
10.3.6.3.2 India IT-Enabled Healthcare Market by Technology
10.3.6.3.3 India IT-Enabled Healthcare Market by End User
10.3.6.4 Japan IT-Enabled Healthcare Market
10.3.6.4.1 Japan IT-Enabled Healthcare Market by Type
10.3.6.4.2 Japan IT-Enabled Healthcare Market by Technology
10.3.6.4.3 Japan IT-Enabled Healthcare Market by End User
10.3.6.5 South Korea IT-Enabled Healthcare Market
10.3.6.5.1 South Korea IT-Enabled Healthcare Market by Type
10.3.6.5.2 South Korea IT-Enabled Healthcare Market by Technology
10.3.6.5.3 South Korea IT-Enabled Healthcare Market by End User
10.3.6.6 Rest of Asia-Pacific IT-Enabled Healthcare Market
10.3.6.6.1 Rest of Asia-Pacific IT-Enabled Healthcare Market by Type
10.3.6.6.2 Rest of Asia-Pacific IT-Enabled Healthcare Market by Technology
10.3.6.6.3 Rest of Asia-Pacific IT-Enabled Healthcare Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa IT-Enabled Healthcare Market Overview
10.4.2 Middle East and Africa IT-Enabled Healthcare Market Forecasts and Analysis
10.4.3 Middle East and Africa IT-Enabled Healthcare Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa IT-Enabled Healthcare Market Forecasts and Analysis - By Technology
10.4.5 Middle East and Africa IT-Enabled Healthcare Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa IT-Enabled Healthcare Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa IT-Enabled Healthcare Market
10.4.6.1.1 South Africa IT-Enabled Healthcare Market by Type
10.4.6.1.2 South Africa IT-Enabled Healthcare Market by Technology
10.4.6.1.3 South Africa IT-Enabled Healthcare Market by End User
10.4.6.2 Saudi Arabia IT-Enabled Healthcare Market
10.4.6.2.1 Saudi Arabia IT-Enabled Healthcare Market by Type
10.4.6.2.2 Saudi Arabia IT-Enabled Healthcare Market by Technology
10.4.6.2.3 Saudi Arabia IT-Enabled Healthcare Market by End User
10.4.6.3 U.A.E IT-Enabled Healthcare Market
10.4.6.3.1 U.A.E IT-Enabled Healthcare Market by Type
10.4.6.3.2 U.A.E IT-Enabled Healthcare Market by Technology
10.4.6.3.3 U.A.E IT-Enabled Healthcare Market by End User
10.4.6.4 Rest of Middle East and Africa IT-Enabled Healthcare Market
10.4.6.4.1 Rest of Middle East and Africa IT-Enabled Healthcare Market by Type
10.4.6.4.2 Rest of Middle East and Africa IT-Enabled Healthcare Market by Technology
10.4.6.4.3 Rest of Middle East and Africa IT-Enabled Healthcare Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America IT-Enabled Healthcare Market Overview
10.5.2 South and Central America IT-Enabled Healthcare Market Forecasts and Analysis
10.5.3 South and Central America IT-Enabled Healthcare Market Forecasts and Analysis - By Type
10.5.4 South and Central America IT-Enabled Healthcare Market Forecasts and Analysis - By Technology
10.5.5 South and Central America IT-Enabled Healthcare Market Forecasts and Analysis - By End User
10.5.6 South and Central America IT-Enabled Healthcare Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil IT-Enabled Healthcare Market
10.5.6.1.1 Brazil IT-Enabled Healthcare Market by Type
10.5.6.1.2 Brazil IT-Enabled Healthcare Market by Technology
10.5.6.1.3 Brazil IT-Enabled Healthcare Market by End User
10.5.6.2 Argentina IT-Enabled Healthcare Market
10.5.6.2.1 Argentina IT-Enabled Healthcare Market by Type
10.5.6.2.2 Argentina IT-Enabled Healthcare Market by Technology
10.5.6.2.3 Argentina IT-Enabled Healthcare Market by End User
10.5.6.3 Rest of South and Central America IT-Enabled Healthcare Market
10.5.6.3.1 Rest of South and Central America IT-Enabled Healthcare Market by Type
10.5.6.3.2 Rest of South and Central America IT-Enabled Healthcare Market by Technology
10.5.6.3.3 Rest of South and Central America IT-Enabled Healthcare Market by End User
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. IT-ENABLED HEALTHCARE MARKET, KEY COMPANY PROFILES
12.1. 3M
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. OPTUM
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. COGNIZANT
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. KONINKLIJKE PHILIPS NV
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. MCKESSON 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. CHANGE HEALTHCARE
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. CERNER CORPORATION
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. DELL , 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. AIRSTRIP TECHNOLOGIES, INC.
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. ALLSCRIPTS HEALTHCARE, LLC
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
- 3M
- Optum
- Cognizant
- Koninklijke Philips NV
- McKesson Corporation
- Change Healthcare
- Cerner Corporation
- Dell , Inc
- Airstrip Technologies, Inc.
- Allscripts Healthcare, LLC
- EPIC Systems Corporation
- Athenahealth
- GENERAL ELECTRIC
- Oracle
- IBM
- Inovalon
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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