Infrared Sensor Market Size & CAGR (2024-2031)
The Infrared Sensor Market is expected to register a CAGR of 7.1% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Type (Near Infrared (NIR), Infrared, and Far Infrared (FIR)); Working Mechanism (Active, Passive); End-User Industry (Healthcare, Aerospace and Defense, Automotive, Commercial Applications, Manufacturing, Oil and Gas, Others); Geography (North America, Europe, Asia-Pacific, Middle East & Africa, South and Central America).
The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments
Purpose of the Report
The report Infrared Sensor 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.
Infrared Sensor Market Segmentation
Type
- Near Infrared
- Infrared
- Far Infrared
Working Mechanism
- Active
- Passive
End-User Industry
- Healthcare
- Aerospace and Defense
- Automotive
- Commercial Applications
- Manufacturing
- Oil and Gas
- Others
Geography
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Magnetic Sensors Market: Strategic Insights
| Market Size Value in | US$ 5.2 billion in 2022 |
| Market Size Value by | US$ 9.2 billion by 2030 |
| Growth rate | CAGR of 7.40% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Infrared Sensor Market Growth Drivers
- Increasing Demand for Thermal Imaging: Thermal imaging technology is in increasing demand, representing a significant driver for the infrared sensor market. The technology has widespread application areas, including security and surveillance, building inspection, and medical diagnostics. As industries seek to improve safety and efficiency, accurate solutions for thermal imaging are in greater demand. This trend is more pronounced in areas such as healthcare, where infrared sensors are used for non-invasive temperature monitoring and diagnostics, and in security applications where intruders can be detected in low light conditions.
- Growing Security and Surveillance Systems Investments: The growing investment in security and surveillance systems is a strong driver for the infrared sensor market. The demand for advanced surveillance technologies has increased with the growing safety and security concerns in both the public and private sectors. Modern security systems are not complete without the infrared sensors, as they can offer facilities such as motion detection and night vision. The adoption of infrared sensors in surveillance applications is a further trend that further leads to market growth in smart cities as well as in enhanced public safety measures.
Infrared Sensor Market Future Trends
- Miniaturization and Integration of Sensors: Another trend experienced in the infrared sensor market is miniaturization and integration of sensing technologies. In this pursuit, as devices are shrinking and becoming smaller, there is an increased demand for miniature infrared sensors that can be accommodated within limited space without accepting degraded performance. This will be particularly true in consumer electronics and in wearable devices where size and weight become an influencing factor. Manufacturers are working towards producing miniaturized infrared sensors with high levels of sensitivity and accuracy so that they can meet the demands of high-tech applications.
- Expansion in Healthcare Monitoring: The demand for infrared sensors in healthcare applications will rise, especially in non-contact temperature measurement and health monitoring devices. These sensors will be critical for fever detection, monitoring vital signs, and supporting remote health diagnostics, particularly in managing pandemics and ensuring patient safety in hospitals and clinics.
Infrared Sensor Market Opportunities
- Expansion in Healthcare Applications: Considerable opportunities exist in the healthcare sector for infrared sensors. As the importance of remote patient monitoring and telehealth solutions continues to grow, using infrared sensors for noncontact temperature measurement and diagnostic purposes will be a must. Following COVID-19, all these technologies have been adopted at rocketing speeds. Health monitoring requires accurate and reliable solutions. Companies who develop innovative infrared sensing technologies that are specifically suited to healthcare applications are sure to find an attractive segment to tap.
- Development of High-Tech Sensing Technology: There is a tremendous scope for the development of more advanced infrared sensing technologies, including multi-spectral and hyperspectral sensors. In such technologies, there are enhanced capabilities in several different applications, like environmental surveillance, agriculture, and industrial automation. While investing in research and development, the corporations can come up with high-tech infrared sensors that suit the changing demands of various industries to become a winner in the business market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Infrared Sensor 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 Infrared Sensor Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Applications, and End-User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The Infrared Sensor Market is estimated to witness a CAGR of 7.1% from 2023 to 2031
Increasing Demand for Thermal Imaging and Growing Security and Surveillance Systems Investments are the major factors driving the Infrared Sensor Market
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
Miniaturization and Integration of Sensors is anticipated to play a significant role in the global Infrared Sensor Market in the coming years
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
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 Magnetic Sensors Market - By Type
1.3.2 Magnetic Sensors Market - By Applications
1.3.3 Magnetic Sensors Market - By End-User
1.3.4 Magnetic Sensors Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MAGNETIC SENSORS 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. MAGNETIC SENSORS 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. MAGNETIC SENSORS MARKET - GLOBAL MARKET ANALYSIS
6.1. MAGNETIC SENSORS - GLOBAL MARKET OVERVIEW
6.2. MAGNETIC SENSORS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. MAGNETIC SENSORS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. HALL EFFECT SENSORS
7.3.1. Overview
7.3.2. Hall Effect Sensors Market Forecast and Analysis
7.3.3. Hall ICs Market
7.3.3.1. Overview
7.3.3.2. Hall ICs Market Forecast and Analysis
7.3.4. Hall Elements Market
7.3.4.1. Overview
7.3.4.2. Hall Elements Market Forecast and Analysis
7.4. MAGNETORESISTIVE SENSORS
7.4.1. Overview
7.4.2. Magnetoresistive Sensors Market Forecast and Analysis
7.4.3. Anisotropic Magnetoresistive (AMR) Sensors Market
7.4.3.1. Overview
7.4.3.2. Anisotropic Magnetoresistive (AMR) Sensors Market Forecast and Analysis
7.4.4. Giant Magnetoresistive (GMR) Sensors Market
7.4.4.1. Overview
7.4.4.2. Giant Magnetoresistive (GMR) Sensors Market Forecast and Analysis
7.4.5. Tunnel Magnetoresistive (TMR) Sensors Market
7.4.5.1. Overview
7.4.5.2. Tunnel Magnetoresistive (TMR) Sensors Market Forecast and Analysis
7.5. SQUID SENSORS
7.5.1. Overview
7.5.2. SQUID Sensors Market Forecast and Analysis
7.5.3. High-Temperature SQUID Market
7.5.3.1. Overview
7.5.3.2. High-Temperature SQUID Market Forecast and Analysis
7.5.4. Low-Temperature SQUID Market
7.5.4.1. Overview
7.5.4.2. Low-Temperature SQUID Market Forecast and Analysis
7.6. FLUXGATE SENSORS
7.6.1. Overview
7.6.2. Fluxgate Sensors Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. MAGNETIC SENSORS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATIONS
8.1. OVERVIEW
8.2. APPLICATIONS MARKET FORECASTS AND ANALYSIS
8.3. SPEED SENSING
8.3.1. Overview
8.3.2. Speed Sensing Market Forecast and Analysis
8.4. DETECTION/NDT
8.4.1. Overview
8.4.2. Detection/NDT Market Forecast and Analysis
8.5. POSITION SENSING
8.5.1. Overview
8.5.2. Position Sensing Market Forecast and Analysis
8.6. NAVIGATION AND ELECTRONIC COMPASS
8.6.1. Overview
8.6.2. Navigation and Electronic Compass Market Forecast and Analysis
8.7. FLOW RATE SENSING
8.7.1. Overview
8.7.2. Flow Rate Sensing Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. MAGNETIC SENSORS MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
9.1. OVERVIEW
9.2. END-USER MARKET FORECASTS AND ANALYSIS
9.3. RF FEM
9.3.1. Overview
9.3.2. RF FEM Market Forecast and Analysis
9.4. TRANSPORTATION
9.4.1. Overview
9.4.2. Transportation Market Forecast and Analysis
9.5. CONSUMER ELECTRONICS
9.5.1. Overview
9.5.2. Consumer Electronics Market Forecast and Analysis
9.6. HEALTHCARE
9.6.1. Overview
9.6.2. Healthcare Market Forecast and Analysis
9.7. AEROSPACE AND DEFENSE
9.7.1. Overview
9.7.2. Aerospace and Defense Market Forecast and Analysis
9.8. INDUSTRIAL
9.8.1. Overview
9.8.2. Industrial Market Forecast and Analysis
9.9. BFSI
9.9.1. Overview
9.9.2. BFSI Market Forecast and Analysis
9.10. OTHERS
9.10.1. Overview
9.10.2. Others Market Forecast and Analysis
10. MAGNETIC SENSORS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Magnetic Sensors Market Overview
10.1.2 North America Magnetic Sensors Market Forecasts and Analysis
10.1.3 North America Magnetic Sensors Market Forecasts and Analysis - By Type
10.1.4 North America Magnetic Sensors Market Forecasts and Analysis - By Applications
10.1.5 North America Magnetic Sensors Market Forecasts and Analysis - By End-User
10.1.6 North America Magnetic Sensors Market Forecasts and Analysis - By Countries
10.1.6.1 United States Magnetic Sensors Market
10.1.6.1.1 United States Magnetic Sensors Market by Type
10.1.6.1.2 United States Magnetic Sensors Market by Applications
10.1.6.1.3 United States Magnetic Sensors Market by End-User
10.1.6.2 Canada Magnetic Sensors Market
10.1.6.2.1 Canada Magnetic Sensors Market by Type
10.1.6.2.2 Canada Magnetic Sensors Market by Applications
10.1.6.2.3 Canada Magnetic Sensors Market by End-User
10.1.6.3 Mexico Magnetic Sensors Market
10.1.6.3.1 Mexico Magnetic Sensors Market by Type
10.1.6.3.2 Mexico Magnetic Sensors Market by Applications
10.1.6.3.3 Mexico Magnetic Sensors Market by End-User
10.2. EUROPE
10.2.1 Europe Magnetic Sensors Market Overview
10.2.2 Europe Magnetic Sensors Market Forecasts and Analysis
10.2.3 Europe Magnetic Sensors Market Forecasts and Analysis - By Type
10.2.4 Europe Magnetic Sensors Market Forecasts and Analysis - By Applications
10.2.5 Europe Magnetic Sensors Market Forecasts and Analysis - By End-User
10.2.6 Europe Magnetic Sensors Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Magnetic Sensors Market
10.2.6.1.1 Germany Magnetic Sensors Market by Type
10.2.6.1.2 Germany Magnetic Sensors Market by Applications
10.2.6.1.3 Germany Magnetic Sensors Market by End-User
10.2.6.2 France Magnetic Sensors Market
10.2.6.2.1 France Magnetic Sensors Market by Type
10.2.6.2.2 France Magnetic Sensors Market by Applications
10.2.6.2.3 France Magnetic Sensors Market by End-User
10.2.6.3 Italy Magnetic Sensors Market
10.2.6.3.1 Italy Magnetic Sensors Market by Type
10.2.6.3.2 Italy Magnetic Sensors Market by Applications
10.2.6.3.3 Italy Magnetic Sensors Market by End-User
10.2.6.4 United Kingdom Magnetic Sensors Market
10.2.6.4.1 United Kingdom Magnetic Sensors Market by Type
10.2.6.4.2 United Kingdom Magnetic Sensors Market by Applications
10.2.6.4.3 United Kingdom Magnetic Sensors Market by End-User
10.2.6.5 Russia Magnetic Sensors Market
10.2.6.5.1 Russia Magnetic Sensors Market by Type
10.2.6.5.2 Russia Magnetic Sensors Market by Applications
10.2.6.5.3 Russia Magnetic Sensors Market by End-User
10.2.6.6 Rest of Europe Magnetic Sensors Market
10.2.6.6.1 Rest of Europe Magnetic Sensors Market by Type
10.2.6.6.2 Rest of Europe Magnetic Sensors Market by Applications
10.2.6.6.3 Rest of Europe Magnetic Sensors Market by End-User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Magnetic Sensors Market Overview
10.3.2 Asia-Pacific Magnetic Sensors Market Forecasts and Analysis
10.3.3 Asia-Pacific Magnetic Sensors Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Magnetic Sensors Market Forecasts and Analysis - By Applications
10.3.5 Asia-Pacific Magnetic Sensors Market Forecasts and Analysis - By End-User
10.3.6 Asia-Pacific Magnetic Sensors Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Magnetic Sensors Market
10.3.6.1.1 Australia Magnetic Sensors Market by Type
10.3.6.1.2 Australia Magnetic Sensors Market by Applications
10.3.6.1.3 Australia Magnetic Sensors Market by End-User
10.3.6.2 China Magnetic Sensors Market
10.3.6.2.1 China Magnetic Sensors Market by Type
10.3.6.2.2 China Magnetic Sensors Market by Applications
10.3.6.2.3 China Magnetic Sensors Market by End-User
10.3.6.3 India Magnetic Sensors Market
10.3.6.3.1 India Magnetic Sensors Market by Type
10.3.6.3.2 India Magnetic Sensors Market by Applications
10.3.6.3.3 India Magnetic Sensors Market by End-User
10.3.6.4 Japan Magnetic Sensors Market
10.3.6.4.1 Japan Magnetic Sensors Market by Type
10.3.6.4.2 Japan Magnetic Sensors Market by Applications
10.3.6.4.3 Japan Magnetic Sensors Market by End-User
10.3.6.5 South Korea Magnetic Sensors Market
10.3.6.5.1 South Korea Magnetic Sensors Market by Type
10.3.6.5.2 South Korea Magnetic Sensors Market by Applications
10.3.6.5.3 South Korea Magnetic Sensors Market by End-User
10.3.6.6 Rest of Asia-Pacific Magnetic Sensors Market
10.3.6.6.1 Rest of Asia-Pacific Magnetic Sensors Market by Type
10.3.6.6.2 Rest of Asia-Pacific Magnetic Sensors Market by Applications
10.3.6.6.3 Rest of Asia-Pacific Magnetic Sensors Market by End-User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Magnetic Sensors Market Overview
10.4.2 Middle East and Africa Magnetic Sensors Market Forecasts and Analysis
10.4.3 Middle East and Africa Magnetic Sensors Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Magnetic Sensors Market Forecasts and Analysis - By Applications
10.4.5 Middle East and Africa Magnetic Sensors Market Forecasts and Analysis - By End-User
10.4.6 Middle East and Africa Magnetic Sensors Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Magnetic Sensors Market
10.4.6.1.1 South Africa Magnetic Sensors Market by Type
10.4.6.1.2 South Africa Magnetic Sensors Market by Applications
10.4.6.1.3 South Africa Magnetic Sensors Market by End-User
10.4.6.2 Saudi Arabia Magnetic Sensors Market
10.4.6.2.1 Saudi Arabia Magnetic Sensors Market by Type
10.4.6.2.2 Saudi Arabia Magnetic Sensors Market by Applications
10.4.6.2.3 Saudi Arabia Magnetic Sensors Market by End-User
10.4.6.3 U.A.E Magnetic Sensors Market
10.4.6.3.1 U.A.E Magnetic Sensors Market by Type
10.4.6.3.2 U.A.E Magnetic Sensors Market by Applications
10.4.6.3.3 U.A.E Magnetic Sensors Market by End-User
10.4.6.4 Rest of Middle East and Africa Magnetic Sensors Market
10.4.6.4.1 Rest of Middle East and Africa Magnetic Sensors Market by Type
10.4.6.4.2 Rest of Middle East and Africa Magnetic Sensors Market by Applications
10.4.6.4.3 Rest of Middle East and Africa Magnetic Sensors Market by End-User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Magnetic Sensors Market Overview
10.5.2 South and Central America Magnetic Sensors Market Forecasts and Analysis
10.5.3 South and Central America Magnetic Sensors Market Forecasts and Analysis - By Type
10.5.4 South and Central America Magnetic Sensors Market Forecasts and Analysis - By Applications
10.5.5 South and Central America Magnetic Sensors Market Forecasts and Analysis - By End-User
10.5.6 South and Central America Magnetic Sensors Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Magnetic Sensors Market
10.5.6.1.1 Brazil Magnetic Sensors Market by Type
10.5.6.1.2 Brazil Magnetic Sensors Market by Applications
10.5.6.1.3 Brazil Magnetic Sensors Market by End-User
10.5.6.2 Argentina Magnetic Sensors Market
10.5.6.2.1 Argentina Magnetic Sensors Market by Type
10.5.6.2.2 Argentina Magnetic Sensors Market by Applications
10.5.6.2.3 Argentina Magnetic Sensors Market by End-User
10.5.6.3 Rest of South and Central America Magnetic Sensors Market
10.5.6.3.1 Rest of South and Central America Magnetic Sensors Market by Type
10.5.6.3.2 Rest of South and Central America Magnetic Sensors Market by Applications
10.5.6.3.3 Rest of South and Central America Magnetic Sensors 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. MAGNETIC SENSORS MARKET, KEY COMPANY PROFILES
12.1. ALLEGRO MICROSYSTEMS, LLC
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. AMS AG
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. ASAHI KASEI MICRODEVICES CORPORATION
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. HONEYWELL INTERNATIONAL INC.
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. INFINEON TECHNOLOGIES AG
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. MELEXIS
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. MURATA MANUFACTURING CO., LTD.
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. NVE 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. NXP SEMICONDUCTORS
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. TE CONNECTIVITY
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. Allegro MicroSystems, LLC
2. ams AG
3. Asahi Kasei Microdevices Corporation
4. HONEYWELL INTERNATIONAL INC.
5 .Infineon Technologies AG
6. Melexis
7. Murata Manufacturing Co., Ltd.
8. NVE Corporation
9. NXP Semiconductors
10. TE Connectivity
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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