LED Packaging Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: LED Packaging Market covers analysis by Package Type (Surface Mount Device (SMD), Chips On Board (COB), Chip Scale Package (CSP)); Packaging Material (Lead Frames, Substrates, Bonding Wire, Encapsulation Resins); Application (General Lighting, Automotive Lighting, Backlighting) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00005266
  • Category : Electronics and Semiconductor
  • No. of Pages : 150
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LED Packaging Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

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MARKET INTRODUCTION:
LED packages shield the LED chip from direct contact with the environment and encapsulate the chip with LED phosphors. Through LED packaging, the outer leads can be linked to the electrode of LED chips, which protects the chips and improves its luminescence efficiency. Moreover, the package form of LED varies according to the application, the size, and the light emitting effect. The increasing demand for smart lighting solutions is expected to encourage the growth of LED packaging market.

MARKET DYNAMICS:
Increasing demand for high power grade LED packages for lighting applications and also due to rise in demand for LED packages in the smart display panel is anticipated to drive the LED packaging market. However, saturation of the market has compelled the market entities to adopt cost-cutting measures, which in turn affects the overall quality of the product, which would emerge as a major restraint for LED packaging market. The growth in the LED filament bulb market and growing demand from horticulture markets will provide opportunities to the LED packaging market.

MARKET SCOPE
The "LED Packaging Market" is a specialized and in-depth study of the electronics and semiconductor industry with a special focus on the global market trend analysis. The report aims to provide an overview of LED packaging market with detailed market segmentation by package type, packaging material, application, and geography. The LED packaging market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION
The LED packaging market is segmented on the basis of package type, package material, application, and geography. Based on package type, the LED packaging market is segmented as surface mount device (SMD), chips on board (COB), chip scale package (CSP). On the basis of packaging material, LED packaging market is segmented into lead frames, substrates, bonding wire, and encapsulation resins. On the basis of application, LED packaging market is segmented into general lighting, automotive lighting, backlighting, and others. REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the LED packaging market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The LED packaging market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting LED packaging market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the LED packaging market in these regions.

World Geography

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  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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MARKET PLAYERS

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the LED packaging market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The LED packaging market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting LED packaging market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the LED packaging market in these regions.

MARKET PLAYERS
The reports cover key developments in the LED packaging market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from LED packaging market are anticipated to lucrative growth opportunities in the future with the rising demand for LED packaging market in the global market. Below mentioned is the list of few companies engaged in the LED packaging market.

The report also includes the profiles of key LED packaging market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
  • Citizen Electronics Co. Ltd.
  • Cree Inc.
  • Everlight Americas Inc.
  • LG INNOTEK
  • Merck KGaA
  • Nichia Corporation
  • OSRAM GmbH
  • Seoul Semiconductor Co. Ltd.
  • Stanley Electric Co.
  • Toyoda Gosei Co. Ltd.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

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 LED Packaging Market - By Package Type
1.3.2 LED Packaging Market - By Packaging Material
1.3.3 LED Packaging Market - By Application
1.3.4 LED Packaging Market - By Region
1.3.4.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. LED PACKAGING MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS

5. LED PACKAGING 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. LED PACKAGING MARKET - GLOBAL MARKET ANALYSIS
6.1. LED PACKAGING - GLOBAL MARKET OVERVIEW
6.2. LED PACKAGING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE

7. LED PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 - PACKAGE TYPE
7.1. OVERVIEW
7.2. PACKAGE TYPE MARKET FORECASTS AND ANALYSIS
7.3. SURFACE MOUNT DEVICE (SMD)
7.3.1. Overview
7.3.2. Surface Mount Device (SMD) Market Forecast and Analysis
7.4. CHIPS ON BOARD (COB)
7.4.1. Overview
7.4.2. Chips On Board (COB) Market Forecast and Analysis
7.5. CHIP SCALE PACKAGE (CSP)
7.5.1. Overview
7.5.2. Chip Scale Package (CSP) Market Forecast and Analysis
8. LED PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 - PACKAGING MATERIAL
8.1. OVERVIEW
8.2. PACKAGING MATERIAL MARKET FORECASTS AND ANALYSIS
8.3. LEAD FRAMES
8.3.1. Overview
8.3.2. Lead Frames Market Forecast and Analysis
8.4. SUBSTRATES
8.4.1. Overview
8.4.2. Substrates Market Forecast and Analysis
8.5. BONDING WIRE
8.5.1. Overview
8.5.2. Bonding Wire Market Forecast and Analysis
8.6. ENCAPSULATION RESINS
8.6.1. Overview
8.6.2. Encapsulation Resins Market Forecast and Analysis
9. LED PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. GENERAL LIGHTING
9.3.1. Overview
9.3.2. General Lighting Market Forecast and Analysis
9.4. AUTOMOTIVE LIGHTING
9.4.1. Overview
9.4.2. Automotive Lighting Market Forecast and Analysis
9.5. BACKLIGHTING
9.5.1. Overview
9.5.2. Backlighting Market Forecast and Analysis

10. LED PACKAGING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America LED Packaging Market Overview
10.1.2 North America LED Packaging Market Forecasts and Analysis
10.1.3 North America LED Packaging Market Forecasts and Analysis - By Package Type
10.1.4 North America LED Packaging Market Forecasts and Analysis - By Packaging Material
10.1.5 North America LED Packaging Market Forecasts and Analysis - By Application
10.1.6 North America LED Packaging Market Forecasts and Analysis - By Countries
10.1.6.1 United States LED Packaging Market
10.1.6.1.1 United States LED Packaging Market by Package Type
10.1.6.1.2 United States LED Packaging Market by Packaging Material
10.1.6.1.3 United States LED Packaging Market by Application
10.1.6.2 Canada LED Packaging Market
10.1.6.2.1 Canada LED Packaging Market by Package Type
10.1.6.2.2 Canada LED Packaging Market by Packaging Material
10.1.6.2.3 Canada LED Packaging Market by Application
10.1.6.3 Mexico LED Packaging Market
10.1.6.3.1 Mexico LED Packaging Market by Package Type
10.1.6.3.2 Mexico LED Packaging Market by Packaging Material
10.1.6.3.3 Mexico LED Packaging Market by Application
10.2. EUROPE
10.2.1 Europe LED Packaging Market Overview
10.2.2 Europe LED Packaging Market Forecasts and Analysis
10.2.3 Europe LED Packaging Market Forecasts and Analysis - By Package Type
10.2.4 Europe LED Packaging Market Forecasts and Analysis - By Packaging Material
10.2.5 Europe LED Packaging Market Forecasts and Analysis - By Application
10.2.6 Europe LED Packaging Market Forecasts and Analysis - By Countries
10.2.6.1 Germany LED Packaging Market
10.2.6.1.1 Germany LED Packaging Market by Package Type
10.2.6.1.2 Germany LED Packaging Market by Packaging Material
10.2.6.1.3 Germany LED Packaging Market by Application
10.2.6.2 France LED Packaging Market
10.2.6.2.1 France LED Packaging Market by Package Type
10.2.6.2.2 France LED Packaging Market by Packaging Material
10.2.6.2.3 France LED Packaging Market by Application
10.2.6.3 Italy LED Packaging Market
10.2.6.3.1 Italy LED Packaging Market by Package Type
10.2.6.3.2 Italy LED Packaging Market by Packaging Material
10.2.6.3.3 Italy LED Packaging Market by Application
10.2.6.4 United Kingdom LED Packaging Market
10.2.6.4.1 United Kingdom LED Packaging Market by Package Type
10.2.6.4.2 United Kingdom LED Packaging Market by Packaging Material
10.2.6.4.3 United Kingdom LED Packaging Market by Application
10.2.6.5 Russia LED Packaging Market
10.2.6.5.1 Russia LED Packaging Market by Package Type
10.2.6.5.2 Russia LED Packaging Market by Packaging Material
10.2.6.5.3 Russia LED Packaging Market by Application
10.2.6.6 Rest of Europe LED Packaging Market
10.2.6.6.1 Rest of Europe LED Packaging Market by Package Type
10.2.6.6.2 Rest of Europe LED Packaging Market by Packaging Material
10.2.6.6.3 Rest of Europe LED Packaging Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific LED Packaging Market Overview
10.3.2 Asia-Pacific LED Packaging Market Forecasts and Analysis
10.3.3 Asia-Pacific LED Packaging Market Forecasts and Analysis - By Package Type
10.3.4 Asia-Pacific LED Packaging Market Forecasts and Analysis - By Packaging Material
10.3.5 Asia-Pacific LED Packaging Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific LED Packaging Market Forecasts and Analysis - By Countries
10.3.6.1 Australia LED Packaging Market
10.3.6.1.1 Australia LED Packaging Market by Package Type
10.3.6.1.2 Australia LED Packaging Market by Packaging Material
10.3.6.1.3 Australia LED Packaging Market by Application
10.3.6.2 China LED Packaging Market
10.3.6.2.1 China LED Packaging Market by Package Type
10.3.6.2.2 China LED Packaging Market by Packaging Material
10.3.6.2.3 China LED Packaging Market by Application
10.3.6.3 India LED Packaging Market
10.3.6.3.1 India LED Packaging Market by Package Type
10.3.6.3.2 India LED Packaging Market by Packaging Material
10.3.6.3.3 India LED Packaging Market by Application
10.3.6.4 Japan LED Packaging Market
10.3.6.4.1 Japan LED Packaging Market by Package Type
10.3.6.4.2 Japan LED Packaging Market by Packaging Material
10.3.6.4.3 Japan LED Packaging Market by Application
10.3.6.5 South Korea LED Packaging Market
10.3.6.5.1 South Korea LED Packaging Market by Package Type
10.3.6.5.2 South Korea LED Packaging Market by Packaging Material
10.3.6.5.3 South Korea LED Packaging Market by Application
10.3.6.6 Rest of Asia-Pacific LED Packaging Market
10.3.6.6.1 Rest of Asia-Pacific LED Packaging Market by Package Type
10.3.6.6.2 Rest of Asia-Pacific LED Packaging Market by Packaging Material
10.3.6.6.3 Rest of Asia-Pacific LED Packaging Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa LED Packaging Market Overview
10.4.2 Middle East and Africa LED Packaging Market Forecasts and Analysis
10.4.3 Middle East and Africa LED Packaging Market Forecasts and Analysis - By Package Type
10.4.4 Middle East and Africa LED Packaging Market Forecasts and Analysis - By Packaging Material
10.4.5 Middle East and Africa LED Packaging Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa LED Packaging Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa LED Packaging Market
10.4.6.1.1 South Africa LED Packaging Market by Package Type
10.4.6.1.2 South Africa LED Packaging Market by Packaging Material
10.4.6.1.3 South Africa LED Packaging Market by Application
10.4.6.2 Saudi Arabia LED Packaging Market
10.4.6.2.1 Saudi Arabia LED Packaging Market by Package Type
10.4.6.2.2 Saudi Arabia LED Packaging Market by Packaging Material
10.4.6.2.3 Saudi Arabia LED Packaging Market by Application
10.4.6.3 U.A.E LED Packaging Market
10.4.6.3.1 U.A.E LED Packaging Market by Package Type
10.4.6.3.2 U.A.E LED Packaging Market by Packaging Material
10.4.6.3.3 U.A.E LED Packaging Market by Application
10.4.6.4 Rest of Middle East and Africa LED Packaging Market
10.4.6.4.1 Rest of Middle East and Africa LED Packaging Market by Package Type
10.4.6.4.2 Rest of Middle East and Africa LED Packaging Market by Packaging Material
10.4.6.4.3 Rest of Middle East and Africa LED Packaging Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America LED Packaging Market Overview
10.5.2 South and Central America LED Packaging Market Forecasts and Analysis
10.5.3 South and Central America LED Packaging Market Forecasts and Analysis - By Package Type
10.5.4 South and Central America LED Packaging Market Forecasts and Analysis - By Packaging Material
10.5.5 South and Central America LED Packaging Market Forecasts and Analysis - By Application
10.5.6 South and Central America LED Packaging Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil LED Packaging Market
10.5.6.1.1 Brazil LED Packaging Market by Package Type
10.5.6.1.2 Brazil LED Packaging Market by Packaging Material
10.5.6.1.3 Brazil LED Packaging Market by Application
10.5.6.2 Argentina LED Packaging Market
10.5.6.2.1 Argentina LED Packaging Market by Package Type
10.5.6.2.2 Argentina LED Packaging Market by Packaging Material
10.5.6.2.3 Argentina LED Packaging Market by Application
10.5.6.3 Rest of South and Central America LED Packaging Market
10.5.6.3.1 Rest of South and Central America LED Packaging Market by Package Type
10.5.6.3.2 Rest of South and Central America LED Packaging Market by Packaging Material
10.5.6.3.3 Rest of South and Central America LED Packaging Market by Application

11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

12. LED PACKAGING MARKET, KEY COMPANY PROFILES
12.1. CITIZEN ELECTRONICS CO. LTD.
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. CREE INC.
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. EVERLIGHT AMERICAS 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. LG INNOTEK
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. MERCK KGAA
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. NICHIA CORPORATION
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. OSRAM GMBH
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. SEOUL SEMICONDUCTOR CO. LTD.
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. STANLEY ELECTRIC CO.
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. TOYODA GOSEI CO. LTD.
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.Citizen Electronics Co. Ltd.
2.Cree Inc.
3.Everlight Americas Inc.
4.LG INNOTEK
5.Merck KGaA
6.Nichia Corporation
7.OSRAM GmbH
8.Seoul Semiconductor Co. Ltd.
9.Stanley Electric Co.
10.Toyoda Gosei Co. Ltd.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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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