IVR Software Market Trends and Forecast (2021-2031)
The IVR Software Market is expected to register a CAGR of 6.5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The research report categorizes the IVR Software Market into Type, Deployment Type, Component, End-user and Geography. Global analysis includes regional-level market analysis, namely key markets across major countries. The market share evaluation is presented for each of the above-mentioned segmental analyses in US$ millions, along with the compound annual growth rate (CAGR) in percentages for the forecast period, thereby delivering a thorough glimpse of market trends and dynamics.
Purpose of the ReportThe report IVR Software 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.
IVR Software Market Segmentation
Type- Touch-tone Based
- Speed Based
- On-Cloud
- On-Premises
- Solutions
- Service
Strategic Insights
IVR Software Market Growth Drivers- Increased Interest in the Automation of Customer Service: As all businesses are looking for more and more ways to improve customer experiences and at the same time reduce operations costs, the requirement for automated customer service solutions such as IVR systems increases. As per a recent study, 75% of customers prefer self-service, which presents an opportunity for automated solutions that facilitate customers for what they need. Businesses leveraging IVR substantially reduce operational costs by up to 30%. This emphasizes that companies consistently seek to improve customer satisfaction driving further demand for customer service automation.
- Customer experience: interaction of voice response systems supports customers at times of their choice. E-commerce companies use IVR software to enhance their customer journey by providing them with 24*7 support on call and creating virtual agents that support a wide range of queries by customers related to order status, availability of products, and other FAQs.
- Effective IVR software for better customer Self-service: Companies can increase payment conversions using secure IVR software. These calls are automatically navigated to the call flow path which leads to customer satisfaction.
- AI and Machine Learning Integration: AI and IVR system, along with machine expands capacity in terms of natural language processing for better customer interactions.
- Growing Omnichannel Support: businesses now increasingly turning to omnichannel communication in terms of chats, email, and social media for seamless interaction.
- Personalization: Use of consumer data in order to present relevant interactions is turning out to be more effective for businesses
- Growth in E-commerce: The fast growth in e-commerce increases the demand for IVR solutions in handling inquiries about orders, payment processing, and customer services.
- Development of Multilingual IVR Systems: Business houses are in demand for multilingual IVR systems since there is a globalization effect taking place that has opened various opportunities for customization solutions to be provided by the vendors.
- Advanced analytics within IVR systems: Indeed, the provision of robust reporting and analytics enables an enterprise to provide an in-depth look into customer interactions and help improve the delivery of service.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the IVR Software 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 IVR Software Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
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
The market is expected to register a CAGR of 6.5% during 2023–2032
Increased Interest in the Automation of Customer Service, Cost Effectiveness, and need for enhanced customer experience are constant drivers of this market
AI and Machine Learning Integration, growing omnichannel support, and personalization are key trends in this market
Key Players in this market are- 8X8, Inc., Aspect Software Parent, Inc., AT&T Inc., Avaya Inc., Cisco Systems, Inc., Convergys Corporation, Genesys Telecommunication Laboratories, Inc., Nuance, Communications, Inc., Verizon Communications Inc.
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.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Interactive Voice Response Market - By Type
1.3.2 Interactive Voice Response Market - By Deployment Type
1.3.3 Interactive Voice Response Market - By Component
1.3.4 Interactive Voice Response Market - By End-User
1.3.5 Interactive Voice Response Market - By Industry Vertical
1.3.6 Interactive Voice Response Market - By Region
1.3.6.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. INTERACTIVE VOICE RESPONSE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.3.1 North America - Pest Analysis
4.3.2 Europe - Pest Analysis
4.3.3 Asia-Pacific - Pest Analysis
4.3.4 Middle East and Africa - Pest Analysis
4.3.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
5. INTERACTIVE VOICE RESPONSE 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. INTERACTIVE VOICE RESPONSE MARKET - GLOBAL MARKET ANALYSIS
6.1. INTERACTIVE VOICE RESPONSE - GLOBAL MARKET OVERVIEW
6.2. INTERACTIVE VOICE RESPONSE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. INTERACTIVE VOICE RESPONSE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. TOUCH-TONE BASED
7.3.1. Overview
7.3.2. Touch-tone Based Market Forecast and Analysis
7.4. SPEED BASED
7.4.1. Overview
7.4.2. Speed Based Market Forecast and Analysis
8. INTERACTIVE VOICE RESPONSE MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT TYPE
8.1. OVERVIEW
8.2. DEPLOYMENT TYPE MARKET FORECASTS AND ANALYSIS
8.3. ON-CLOUD
8.3.1. Overview
8.3.2. On-Cloud Market Forecast and Analysis
8.4. ON-PREMISES
8.4.1. Overview
8.4.2. On-Premises Market Forecast and Analysis
9. INTERACTIVE VOICE RESPONSE MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
9.1. OVERVIEW
9.2. COMPONENT MARKET FORECASTS AND ANALYSIS
9.3. SOLUTIONS
9.3.1. Overview
9.3.2. Solutions Market Forecast and Analysis
9.3.2.1 Call Routing Market
9.3.2.1.1 Call Routing Market Forecast and Analysis
9.3.2.2 Outbound Market
9.3.2.2.1 Outbound Market Forecast and Analysis
9.3.2.3 Self-Service Market
9.3.2.3.1 Self-Service Market Forecast and Analysis
9.4. SERVICE
9.4.1. Overview
9.4.2. Service Market Forecast and Analysis
9.4.2.1 Managed Services Market
9.4.2.1.1 Managed Services Market Forecast and Analysis
9.4.2.2 Professional Service Market
9.4.2.2.1 Professional Service Market Forecast and Analysis
10. INTERACTIVE VOICE RESPONSE MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
10.1. OVERVIEW
10.2. END-USER MARKET FORECASTS AND ANALYSIS
10.3. LARGE ENTERPRISES
10.3.1. Overview
10.3.2. Large Enterprises Market Forecast and Analysis
10.4. SMALL AND MEDIUM ENTERPRISES
10.4.1. Overview
10.4.2. Small and Medium Enterprises Market Forecast and Analysis
11. INTERACTIVE VOICE RESPONSE MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY VERTICAL
11.1. OVERVIEW
11.2. INDUSTRY VERTICAL MARKET FORECASTS AND ANALYSIS
11.3. BFSI
11.3.1. Overview
11.3.2. BFSI Market Forecast and Analysis
11.4. HEALTHCARE
11.4.1. Overview
11.4.2. Healthcare Market Forecast and Analysis
11.5. TELECOM
11.5.1. Overview
11.5.2. Telecom Market Forecast and Analysis
11.6. MEDIA AND ENTERTAINMENT
11.6.1. Overview
11.6.2. Media and Entertainment Market Forecast and Analysis
11.7. RETAIL AND E-COMMERCE
11.7.1. Overview
11.7.2. Retail and E-commerce Market Forecast and Analysis
11.8. TRANSPORT AND LOGISTICS
11.8.1. Overview
11.8.2. Transport and Logistics Market Forecast and Analysis
11.9. GOVERNMENT
11.9.1. Overview
11.9.2. Government Market Forecast and Analysis
11.10. OTHERS
11.10.1. Overview
11.10.2. Others Market Forecast and Analysis
12. INTERACTIVE VOICE RESPONSE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
12.1. NORTH AMERICA
12.1.1 North America Interactive Voice Response Market Overview
12.1.2 North America Interactive Voice Response Market Forecasts and Analysis
12.1.3 North America Market Forecasts and Analysis - By Type
12.1.4 North America Market Forecasts and Analysis - By Deployment Type
12.1.5 North America Market Forecasts and Analysis - By Component
12.1.6 North America Market Forecasts and Analysis - By End-User
12.1.7 North America Market Forecasts and Analysis - By Industry Vertical
12.1.8 North America Market Forecasts and Analysis - By Countries
12.1.8.1 United States Market
12.1.8.1.1 United States Market by Type
12.1.8.1.2 United States Market by Deployment Type
12.1.8.1.3 United States Market by Component
12.1.8.1.4 United States Market by End-User
12.1.8.1.5 United States Market by Industry Vertical
12.1.8.2 Canada Market
12.1.8.2.1 Canada Market by Type
12.1.8.2.2 Canada Market by Deployment Type
12.1.8.2.3 Canada Market by Component
12.1.8.2.4 Canada Market by End-User
12.1.8.2.5 Canada Market by Industry Vertical
12.1.8.3 Mexico Market
12.1.8.3.1 Mexico Market by Type
12.1.8.3.2 Mexico Market by Deployment Type
12.1.8.3.3 Mexico Market by Component
12.1.8.3.4 Mexico Market by End-User
12.1.8.3.5 Mexico Market by Industry Vertical
12.2. EUROPE
12.2.1 Europe Interactive Voice Response Market Overview
12.2.2 Europe Interactive Voice Response Market Forecasts and Analysis
12.2.3 Europe Market Forecasts and Analysis - By Type
12.2.4 Europe Market Forecasts and Analysis - By Deployment Type
12.2.5 Europe Market Forecasts and Analysis - By Component
12.2.6 Europe Market Forecasts and Analysis - By End-User
12.2.7 Europe Market Forecasts and Analysis - By Industry Vertical
12.2.8 Europe Market Forecasts and Analysis - By Countries
12.2.8.1 Germany Market
12.2.8.1.1 Germany Market by Type
12.2.8.1.2 Germany Market by Deployment Type
12.2.8.1.3 Germany Market by Component
12.2.8.1.4 Germany Market by End-User
12.2.8.1.5 Germany Market by Industry Vertical
12.2.8.2 France Market
12.2.8.2.1 France Market by Type
12.2.8.2.2 France Market by Deployment Type
12.2.8.2.3 France Market by Component
12.2.8.2.4 France Market by End-User
12.2.8.2.5 France Market by Industry Vertical
12.2.8.3 Italy Market
12.2.8.3.1 Italy Market by Type
12.2.8.3.2 Italy Market by Deployment Type
12.2.8.3.3 Italy Market by Component
12.2.8.3.4 Italy Market by End-User
12.2.8.3.5 Italy Market by Industry Vertical
12.2.8.4 United Kingdom Market
12.2.8.4.1 United Kingdom Market by Type
12.2.8.4.2 United Kingdom Market by Deployment Type
12.2.8.4.3 United Kingdom Market by Component
12.2.8.4.4 United Kingdom Market by End-User
12.2.8.4.5 United Kingdom Market by Industry Vertical
12.2.8.5 Russia Market
12.2.8.5.1 Russia Market by Type
12.2.8.5.2 Russia Market by Deployment Type
12.2.8.5.3 Russia Market by Component
12.2.8.5.4 Russia Market by End-User
12.2.8.5.5 Russia Market by Industry Vertical
12.2.8.6 Rest of Europe Market
12.2.8.6.1 Rest of Europe Market by Type
12.2.8.6.2 Rest of Europe Market by Deployment Type
12.2.8.6.3 Rest of Europe Market by Component
12.2.8.6.4 Rest of Europe Market by End-User
12.2.8.6.5 Rest of Europe Market by Industry Vertical
12.3. ASIA-PACIFIC
12.3.1 Asia-Pacific Interactive Voice Response Market Overview
12.3.2 Asia-Pacific Interactive Voice Response Market Forecasts and Analysis
12.3.3 Asia-Pacific Market Forecasts and Analysis - By Type
12.3.4 Asia-Pacific Market Forecasts and Analysis - By Deployment Type
12.3.5 Asia-Pacific Market Forecasts and Analysis - By Component
12.3.6 Asia-Pacific Market Forecasts and Analysis - By End-User
12.3.7 Asia-Pacific Market Forecasts and Analysis - By Industry Vertical
12.3.8 Asia-Pacific Market Forecasts and Analysis - By Countries
12.3.8.1 Australia Market
12.3.8.1.1 Australia Market by Type
12.3.8.1.2 Australia Market by Deployment Type
12.3.8.1.3 Australia Market by Component
12.3.8.1.4 Australia Market by End-User
12.3.8.1.5 Australia Market by Industry Vertical
12.3.8.2 China Market
12.3.8.2.1 China Market by Type
12.3.8.2.2 China Market by Deployment Type
12.3.8.2.3 China Market by Component
12.3.8.2.4 China Market by End-User
12.3.8.2.5 China Market by Industry Vertical
12.3.8.3 India Market
12.3.8.3.1 India Market by Type
12.3.8.3.2 India Market by Deployment Type
12.3.8.3.3 India Market by Component
12.3.8.3.4 India Market by End-User
12.3.8.3.5 India Market by Industry Vertical
12.3.8.4 Japan Market
12.3.8.4.1 Japan Market by Type
12.3.8.4.2 Japan Market by Deployment Type
12.3.8.4.3 Japan Market by Component
12.3.8.4.4 Japan Market by End-User
12.3.8.4.5 Japan Market by Industry Vertical
12.3.8.5 South Korea Market
12.3.8.5.1 South Korea Market by Type
12.3.8.5.2 South Korea Market by Deployment Type
12.3.8.5.3 South Korea Market by Component
12.3.8.5.4 South Korea Market by End-User
12.3.8.5.5 South Korea Market by Industry Vertical
12.3.8.6 Rest of Asia-Pacific Market
12.3.8.6.1 Rest of Asia-Pacific Market by Type
12.3.8.6.2 Rest of Asia-Pacific Market by Deployment Type
12.3.8.6.3 Rest of Asia-Pacific Market by Component
12.3.8.6.4 Rest of Asia-Pacific Market by End-User
12.3.8.6.5 Rest of Asia-Pacific Market by Industry Vertical
12.4. MIDDLE EAST AND AFRICA
12.4.1 Middle East and Africa Interactive Voice Response Market Overview
12.4.2 Middle East and Africa Interactive Voice Response Market Forecasts and Analysis
12.4.3 Middle East and Africa Market Forecasts and Analysis - By Type
12.4.4 Middle East and Africa Market Forecasts and Analysis - By Deployment Type
12.4.5 Middle East and Africa Market Forecasts and Analysis - By Component
12.4.6 Middle East and Africa Market Forecasts and Analysis - By End-User
12.4.7 Middle East and Africa Market Forecasts and Analysis - By Industry Vertical
12.4.8 Middle East and Africa Market Forecasts and Analysis - By Countries
12.4.8.1 South Africa Market
12.4.8.1.1 South Africa Market by Type
12.4.8.1.2 South Africa Market by Deployment Type
12.4.8.1.3 South Africa Market by Component
12.4.8.1.4 South Africa Market by End-User
12.4.8.1.5 South Africa Market by Industry Vertical
12.4.8.2 Saudi Arabia Market
12.4.8.2.1 Saudi Arabia Market by Type
12.4.8.2.2 Saudi Arabia Market by Deployment Type
12.4.8.2.3 Saudi Arabia Market by Component
12.4.8.2.4 Saudi Arabia Market by End-User
12.4.8.2.5 Saudi Arabia Market by Industry Vertical
12.4.8.3 U.A.E Market
12.4.8.3.1 U.A.E Market by Type
12.4.8.3.2 U.A.E Market by Deployment Type
12.4.8.3.3 U.A.E Market by Component
12.4.8.3.4 U.A.E Market by End-User
12.4.8.3.5 U.A.E Market by Industry Vertical
12.4.8.4 Rest of Middle East and Africa Market
12.4.8.4.1 Rest of Middle East and Africa Market by Type
12.4.8.4.2 Rest of Middle East and Africa Market by Deployment Type
12.4.8.4.3 Rest of Middle East and Africa Market by Component
12.4.8.4.4 Rest of Middle East and Africa Market by End-User
12.4.8.4.5 Rest of Middle East and Africa Market by Industry Vertical
12.5. SOUTH AMERICA
12.5.1 South America Interactive Voice Response Market Overview
12.5.2 South America Interactive Voice Response Market Forecasts and Analysis
12.5.3 South America Market Forecasts and Analysis - By Type
12.5.4 South America Market Forecasts and Analysis - By Deployment Type
12.5.5 South America Market Forecasts and Analysis - By Component
12.5.6 South America Market Forecasts and Analysis - By End-User
12.5.7 South America Market Forecasts and Analysis - By Industry Vertical
12.5.8 South America Market Forecasts and Analysis - By Countries
12.5.8.1 Brazil Market
12.5.8.1.1 Brazil Market by Type
12.5.8.1.2 Brazil Market by Deployment Type
12.5.8.1.3 Brazil Market by Component
12.5.8.1.4 Brazil Market by End-User
12.5.8.1.5 Brazil Market by Industry Vertical
12.5.8.2 Argentina Market
12.5.8.2.1 Argentina Market by Type
12.5.8.2.2 Argentina Market by Deployment Type
12.5.8.2.3 Argentina Market by Component
12.5.8.2.4 Argentina Market by End-User
12.5.8.2.5 Argentina Market by Industry Vertical
12.5.8.3 Rest of South America Market
12.5.8.3.1 Rest of South America Market by Type
12.5.8.3.2 Rest of South America Market by Deployment Type
12.5.8.3.3 Rest of South America Market by Component
12.5.8.3.4 Rest of South America Market by End-User
12.5.8.3.5 Rest of South America Market by Industry Vertical
13. INDUSTRY LANDSCAPE
13.1. MERGERS AND ACQUISITIONS
13.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
13.3. NEW PRODUCT LAUNCHES
13.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14. INTERACTIVE VOICE RESPONSE MARKET, KEY COMPANY PROFILES
14.1. 8X8, INC.
14.1.1. Key Facts
14.1.2. Business Description
14.1.3. Products and Services
14.1.4. Financial Overview
14.1.5. SWOT Analysis
14.1.6. Key Developments
14.2. ASPECT SOFTWARE PARENT INC.
14.2.1. Key Facts
14.2.2. Business Description
14.2.3. Products and Services
14.2.4. Financial Overview
14.2.5. SWOT Analysis
14.2.6. Key Developments
14.3. AT & T INC.
14.3.1. Key Facts
14.3.2. Business Description
14.3.3. Products and Services
14.3.4. Financial Overview
14.3.5. SWOT Analysis
14.3.6. Key Developments
14.4. AVAYA INC.
14.4.1. Key Facts
14.4.2. Business Description
14.4.3. Products and Services
14.4.4. Financial Overview
14.4.5. SWOT Analysis
14.4.6. Key Developments
14.5. CISCO SYSTEMS INC.
14.5.1. Key Facts
14.5.2. Business Description
14.5.3. Products and Services
14.5.4. Financial Overview
14.5.5. SWOT Analysis
14.5.6. Key Developments
14.6. CONVERGYS CORPORATION
14.6.1. Key Facts
14.6.2. Business Description
14.6.3. Products and Services
14.6.4. Financial Overview
14.6.5. SWOT Analysis
14.6.6. Key Developments
14.7. GENESYS TELECOMMUNICATION LABORATORIES INC.
14.7.1. Key Facts
14.7.2. Business Description
14.7.3. Products and Services
14.7.4. Financial Overview
14.7.5. SWOT Analysis
14.7.6. Key Developments
14.8. NUANCE COMMUNICATIONS INC.
14.8.1. Key Facts
14.8.2. Business Description
14.8.3. Products and Services
14.8.4. Financial Overview
14.8.5. SWOT Analysis
14.8.6. Key Developments
14.9. VERIZON COMMUNICATIONS INC.
14.9.1. Key Facts
14.9.2. Business Description
14.9.3. Products and Services
14.9.4. Financial Overview
14.9.5. SWOT Analysis
14.9.6. Key Developments
14.10. WEST CORPORATION
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Products and Services
14.10.4. Financial Overview
14.10.5. SWOT Analysis
14.10.6. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
1. 8X8, Inc.
2. Aspect Software Parent, Inc.
3. AT&T Inc.
4. Avaya Inc.
5. Cisco Systems, Inc.
6. Convergys Corporation
7. Genesys Telecommunication Laboratories, Inc.
8. Nuance Communications, Inc.
9. Verizon Communications Inc.
10. West Corporation
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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