Light Duty Vehicles Market Size (2021-2031) and Analysis
The Light Duty Vehicles Market is expected to register a CAGR of 8.7% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Vehicle Type (Passenger Cars, Van, Pickup-Trucks, Light Commercial vehicle (LCV)); Fuel Type (Gasoline, Diesel, Electric, Others); Transmission Type (Manual, Automatic). 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 ReportThe report Light Duty Vehicles 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.
Light Duty Vehicles Market Segmentation
Vehicle Type- Passenger Cars
- Van
- Pickup-Trucks
- Light Commercial vehicle
- Gasoline
- Diesel
- Electric
- Others
- Manual
- Automatic
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Light Duty Vehicles Market Growth Drivers- Rising Consumer Demand for Fuel-Efficient and Eco-Friendly Vehicles: The world sees growing consumer demand for fuel-efficient and environment-friendly vehicles as one of the strongest drivers of the light-duty vehicles market. Rising fuel costs and increasing awareness of environmental issues such as air pollution and climate change have led to increased demand from consumers for vehicles that hold lower emissions and improved fuel economy. Consumers are opting for electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles. These all contribute toward reduced carbon footprint. This trend is driving car manufacturers to build less polluting and more efficient technology fulfilling the demand of consumers as well as regulatory mandates.
- Government Regulations and Incentives: Governments around the globe are implementing stricter environmental regulations to keep a check on vehicle emissions and encourage electric and hybrid automobiles. For example, Euro 6 emissions standards implemented in the European Union and CAFÉ standards (Corporate Average Fuel Economy) currently in force in the United States also force auto manufacturers to produce more 'clean' and efficient vehicles. Governments offer incentives such as tax credits, rebates, and grants for consumers to purchase ecofriendly vehicles. Regulation drivers, combined with increasing government support for EV infrastructure, such as charging stations, is making cleaner light-duty vehicles a more tempting transition.
- Increasing Urbanization: The rapid increase of urban populations is driving the higher demand for light-duty vehicles, as consumers are seeking suitable transportation alternatives in densely populated areas. The growing number of smart cities and rising consumer emphsis on smart transportation is acting as a major driver for the market. The increasing focus on convenient travelling and cost effective transportation alternatives is boosting the market development.
- Integration of Advanced Driver-Assistance Systems (ADAS): Advanced driver-assistance systems, that encompasses lane-keeping assist, adaptive cruise control, and collision avoidance systems, offer a great opportunity to the light-duty vehicle market. Automakers are catering to consumers' demand for safer and more intelligent vehicles by including these technologies in entry-level products all the way to high-end models. Moreover, with the integration of autonomous driving technologies in light-duty vehicles, innovation for designs and experiences for customers is opened up.
- Rising Demand in Emerging Markets: Emerging nations such as Asa Pacific, Latin America and Africa are witnessing a growth in demand for light-duty vehicles owing to increasing disposable incomes and rising demand across middle-class populations. The growing emphasis on smart transportation and convenient travelling is presenting a lucrative market for manufacturers. The growing development in the automotive sector and rising consumer emphasis on smart vehicles is projected to drive the growth of the market.
- Advancements in Vehicle Technology: The incessant advancement of vehicle technologies itself profoundly drives the light-duty vehicle market. Driverless car technology, advanced driver-assistance systems (ADAS), infotainment, and connected cars are making vehicles smarter and safer and thus more appealing to consumers. The demand for not just performance but also safety, convenience, and connectivity is pushing the light-duty vehicles market. Even when it comes to traditional internal combustion engine vehicles, the introduction of electric powertrains, battery technology, and lightweight materials is further making these energy efficiency vehicles.
- Urbanization and Changing Consumer Lifestyles: The main reason for the growth of the light-duty vehicle market comes from urbanization, where an increasing number of people are moving to cities and need efficient transportation solutions for reliable movement. Besides, changes in consumer lifestyles, for example, the rising prominence of car-sharing and ride-hailing services, impact the light-duty vehicle demand. Urban consumers now increasingly opt for smaller, fuel-frugal vehicles that are easier to handle and park in crowded cities. Similarly, this trend supports the increased demand for compact cars, electric vehicles, and affordable hybrids, all of which fit perfectly within urban consumers' requirements.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Light Duty Vehicles 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 Light Duty Vehicles 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 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
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Integration of Advanced Driver-Assistance Systems (ADAS) is anticipated to play a significant role in the global light duty vehicles market in the coming years
The Light Duty Vehicles Market is estimated to witness a CAGR of 8.7% from 2023 to 2031
The major factors driving the light duty vehicles market are:
1. Rising Consumer Demand for Fuel-Efficient and Eco-Friendly Vehicles
2. Government Regulations and Incentives
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Light Duty Vehicles Market - By Vehicle Type
1.3.2 Light Duty Vehicles Market - By Fuel Type
1.3.3 Light Duty Vehicles Market - By Transmission Type
1.3.4 Light Duty Vehicles Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. LIGHT DUTY VEHICLES 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. LIGHT DUTY VEHICLES 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. LIGHT DUTY VEHICLES MARKET - GLOBAL MARKET ANALYSIS
6.1. LIGHT DUTY VEHICLES - GLOBAL MARKET OVERVIEW
6.2. LIGHT DUTY VEHICLES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. LIGHT DUTY VEHICLES MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
7.1. OVERVIEW
7.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
7.3. PASSENGER CARS
7.3.1. Overview
7.3.2. Passenger Cars Market Forecast and Analysis
7.4. VAN
7.4.1. Overview
7.4.2. Van Market Forecast and Analysis
7.5. PICKUP-TRUCKS
7.5.1. Overview
7.5.2. Pickup-Trucks Market Forecast and Analysis
7.6. LIGHT COMMERCIAL VEHICLE (LCV)
7.6.1. Overview
7.6.2. Light Commercial vehicle (LCV) Market Forecast and Analysis
8. LIGHT DUTY VEHICLES MARKET - REVENUE AND FORECASTS TO 2028 - FUEL TYPE
8.1. OVERVIEW
8.2. FUEL TYPE MARKET FORECASTS AND ANALYSIS
8.3. GASOLINE
8.3.1. Overview
8.3.2. Gasoline Market Forecast and Analysis
8.4. DIESEL
8.4.1. Overview
8.4.2. Diesel Market Forecast and Analysis
8.5. ELECTRIC
8.5.1. Overview
8.5.2. Electric Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. LIGHT DUTY VEHICLES MARKET - REVENUE AND FORECASTS TO 2028 - TRANSMISSION TYPE
9.1. OVERVIEW
9.2. TRANSMISSION TYPE MARKET FORECASTS AND ANALYSIS
9.3. MANUAL
9.3.1. Overview
9.3.2. Manual Market Forecast and Analysis
9.4. AUTOMATIC
9.4.1. Overview
9.4.2. Automatic Market Forecast and Analysis
10. LIGHT DUTY VEHICLES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Light Duty Vehicles Market Overview
10.1.2 North America Light Duty Vehicles Market Forecasts and Analysis
10.1.3 North America Light Duty Vehicles Market Forecasts and Analysis - By Vehicle Type
10.1.4 North America Light Duty Vehicles Market Forecasts and Analysis - By Fuel Type
10.1.5 North America Light Duty Vehicles Market Forecasts and Analysis - By Transmission Type
10.1.6 North America Light Duty Vehicles Market Forecasts and Analysis - By Countries
10.1.6.1 United States Light Duty Vehicles Market
10.1.6.1.1 United States Light Duty Vehicles Market by Vehicle Type
10.1.6.1.2 United States Light Duty Vehicles Market by Fuel Type
10.1.6.1.3 United States Light Duty Vehicles Market by Transmission Type
10.1.6.2 Canada Light Duty Vehicles Market
10.1.6.2.1 Canada Light Duty Vehicles Market by Vehicle Type
10.1.6.2.2 Canada Light Duty Vehicles Market by Fuel Type
10.1.6.2.3 Canada Light Duty Vehicles Market by Transmission Type
10.1.6.3 Mexico Light Duty Vehicles Market
10.1.6.3.1 Mexico Light Duty Vehicles Market by Vehicle Type
10.1.6.3.2 Mexico Light Duty Vehicles Market by Fuel Type
10.1.6.3.3 Mexico Light Duty Vehicles Market by Transmission Type
10.2. EUROPE
10.2.1 Europe Light Duty Vehicles Market Overview
10.2.2 Europe Light Duty Vehicles Market Forecasts and Analysis
10.2.3 Europe Light Duty Vehicles Market Forecasts and Analysis - By Vehicle Type
10.2.4 Europe Light Duty Vehicles Market Forecasts and Analysis - By Fuel Type
10.2.5 Europe Light Duty Vehicles Market Forecasts and Analysis - By Transmission Type
10.2.6 Europe Light Duty Vehicles Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Light Duty Vehicles Market
10.2.6.1.1 Germany Light Duty Vehicles Market by Vehicle Type
10.2.6.1.2 Germany Light Duty Vehicles Market by Fuel Type
10.2.6.1.3 Germany Light Duty Vehicles Market by Transmission Type
10.2.6.2 France Light Duty Vehicles Market
10.2.6.2.1 France Light Duty Vehicles Market by Vehicle Type
10.2.6.2.2 France Light Duty Vehicles Market by Fuel Type
10.2.6.2.3 France Light Duty Vehicles Market by Transmission Type
10.2.6.3 Italy Light Duty Vehicles Market
10.2.6.3.1 Italy Light Duty Vehicles Market by Vehicle Type
10.2.6.3.2 Italy Light Duty Vehicles Market by Fuel Type
10.2.6.3.3 Italy Light Duty Vehicles Market by Transmission Type
10.2.6.4 United Kingdom Light Duty Vehicles Market
10.2.6.4.1 United Kingdom Light Duty Vehicles Market by Vehicle Type
10.2.6.4.2 United Kingdom Light Duty Vehicles Market by Fuel Type
10.2.6.4.3 United Kingdom Light Duty Vehicles Market by Transmission Type
10.2.6.5 Russia Light Duty Vehicles Market
10.2.6.5.1 Russia Light Duty Vehicles Market by Vehicle Type
10.2.6.5.2 Russia Light Duty Vehicles Market by Fuel Type
10.2.6.5.3 Russia Light Duty Vehicles Market by Transmission Type
10.2.6.6 Rest of Europe Light Duty Vehicles Market
10.2.6.6.1 Rest of Europe Light Duty Vehicles Market by Vehicle Type
10.2.6.6.2 Rest of Europe Light Duty Vehicles Market by Fuel Type
10.2.6.6.3 Rest of Europe Light Duty Vehicles Market by Transmission Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Light Duty Vehicles Market Overview
10.3.2 Asia-Pacific Light Duty Vehicles Market Forecasts and Analysis
10.3.3 Asia-Pacific Light Duty Vehicles Market Forecasts and Analysis - By Vehicle Type
10.3.4 Asia-Pacific Light Duty Vehicles Market Forecasts and Analysis - By Fuel Type
10.3.5 Asia-Pacific Light Duty Vehicles Market Forecasts and Analysis - By Transmission Type
10.3.6 Asia-Pacific Light Duty Vehicles Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Light Duty Vehicles Market
10.3.6.1.1 Australia Light Duty Vehicles Market by Vehicle Type
10.3.6.1.2 Australia Light Duty Vehicles Market by Fuel Type
10.3.6.1.3 Australia Light Duty Vehicles Market by Transmission Type
10.3.6.2 China Light Duty Vehicles Market
10.3.6.2.1 China Light Duty Vehicles Market by Vehicle Type
10.3.6.2.2 China Light Duty Vehicles Market by Fuel Type
10.3.6.2.3 China Light Duty Vehicles Market by Transmission Type
10.3.6.3 India Light Duty Vehicles Market
10.3.6.3.1 India Light Duty Vehicles Market by Vehicle Type
10.3.6.3.2 India Light Duty Vehicles Market by Fuel Type
10.3.6.3.3 India Light Duty Vehicles Market by Transmission Type
10.3.6.4 Japan Light Duty Vehicles Market
10.3.6.4.1 Japan Light Duty Vehicles Market by Vehicle Type
10.3.6.4.2 Japan Light Duty Vehicles Market by Fuel Type
10.3.6.4.3 Japan Light Duty Vehicles Market by Transmission Type
10.3.6.5 South Korea Light Duty Vehicles Market
10.3.6.5.1 South Korea Light Duty Vehicles Market by Vehicle Type
10.3.6.5.2 South Korea Light Duty Vehicles Market by Fuel Type
10.3.6.5.3 South Korea Light Duty Vehicles Market by Transmission Type
10.3.6.6 Rest of Asia-Pacific Light Duty Vehicles Market
10.3.6.6.1 Rest of Asia-Pacific Light Duty Vehicles Market by Vehicle Type
10.3.6.6.2 Rest of Asia-Pacific Light Duty Vehicles Market by Fuel Type
10.3.6.6.3 Rest of Asia-Pacific Light Duty Vehicles Market by Transmission Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Light Duty Vehicles Market Overview
10.4.2 Middle East and Africa Light Duty Vehicles Market Forecasts and Analysis
10.4.3 Middle East and Africa Light Duty Vehicles Market Forecasts and Analysis - By Vehicle Type
10.4.4 Middle East and Africa Light Duty Vehicles Market Forecasts and Analysis - By Fuel Type
10.4.5 Middle East and Africa Light Duty Vehicles Market Forecasts and Analysis - By Transmission Type
10.4.6 Middle East and Africa Light Duty Vehicles Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Light Duty Vehicles Market
10.4.6.1.1 South Africa Light Duty Vehicles Market by Vehicle Type
10.4.6.1.2 South Africa Light Duty Vehicles Market by Fuel Type
10.4.6.1.3 South Africa Light Duty Vehicles Market by Transmission Type
10.4.6.2 Saudi Arabia Light Duty Vehicles Market
10.4.6.2.1 Saudi Arabia Light Duty Vehicles Market by Vehicle Type
10.4.6.2.2 Saudi Arabia Light Duty Vehicles Market by Fuel Type
10.4.6.2.3 Saudi Arabia Light Duty Vehicles Market by Transmission Type
10.4.6.3 U.A.E Light Duty Vehicles Market
10.4.6.3.1 U.A.E Light Duty Vehicles Market by Vehicle Type
10.4.6.3.2 U.A.E Light Duty Vehicles Market by Fuel Type
10.4.6.3.3 U.A.E Light Duty Vehicles Market by Transmission Type
10.4.6.4 Rest of Middle East and Africa Light Duty Vehicles Market
10.4.6.4.1 Rest of Middle East and Africa Light Duty Vehicles Market by Vehicle Type
10.4.6.4.2 Rest of Middle East and Africa Light Duty Vehicles Market by Fuel Type
10.4.6.4.3 Rest of Middle East and Africa Light Duty Vehicles Market by Transmission Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Light Duty Vehicles Market Overview
10.5.2 South and Central America Light Duty Vehicles Market Forecasts and Analysis
10.5.3 South and Central America Light Duty Vehicles Market Forecasts and Analysis - By Vehicle Type
10.5.4 South and Central America Light Duty Vehicles Market Forecasts and Analysis - By Fuel Type
10.5.5 South and Central America Light Duty Vehicles Market Forecasts and Analysis - By Transmission Type
10.5.6 South and Central America Light Duty Vehicles Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Light Duty Vehicles Market
10.5.6.1.1 Brazil Light Duty Vehicles Market by Vehicle Type
10.5.6.1.2 Brazil Light Duty Vehicles Market by Fuel Type
10.5.6.1.3 Brazil Light Duty Vehicles Market by Transmission Type
10.5.6.2 Argentina Light Duty Vehicles Market
10.5.6.2.1 Argentina Light Duty Vehicles Market by Vehicle Type
10.5.6.2.2 Argentina Light Duty Vehicles Market by Fuel Type
10.5.6.2.3 Argentina Light Duty Vehicles Market by Transmission Type
10.5.6.3 Rest of South and Central America Light Duty Vehicles Market
10.5.6.3.1 Rest of South and Central America Light Duty Vehicles Market by Vehicle Type
10.5.6.3.2 Rest of South and Central America Light Duty Vehicles Market by Fuel Type
10.5.6.3.3 Rest of South and Central America Light Duty Vehicles Market by Transmission Type
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. LIGHT DUTY VEHICLES MARKET, KEY COMPANY PROFILES
12.1. DAIMLER AG
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. FIAT CHRYSLER AUTOMOBILES N.V.
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. FORD MOTOR COMPANY
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. GENERAL MOTORS COMPANY
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. ISUZU MOTORS LTD.
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. IVECO S.P.A.
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. JAGUAR LAND ROVER
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. TOYOTA MOTOR CORPORATION
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. VOLKSWAGEN GROUP
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. VOLVO AB
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
1. Daimler AG
2. Fiat Chrysler Automobiles N.V.
3. Ford Motor Company
4. General Motors Company
5. Isuzu Motors Ltd.
6. IVECO S.p.A.
7. Jaguar Land Rover
8. Toyota Motor Corporation
9. Volkswagen Group
10. Volvo AB
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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