mhealth Solutions Market [2021-2031] - Size and Share
The mhealth Solutions Market is expected to register a CAGR of 14.0% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The mHealth Solutions Market report is an excellent revelation which focuses on the mobile health technologies that are revolutionizing healthcare delivery. A leading segment, including mobile health applications, wearables, and remote monitoring devices, is analyzed for the role they play in enhancing patient engagement and health management.
These factors include increasing incidence of chronic disease, increased penetration rate of smartphones, and increasing demand for telehealth services. Other new trends include incorporating artificial intelligence in the development of personalized care as well as growth of the mobile health platform in emerging markets.
The report is useful because it covers the competition strategies of leading players, analyzing innovations and their current position in the market. It acts as a guide for stakeholders on how to find growth in the dynamic situation of mHealth.
The report mhealth Solutions 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.
mhealth Solutions Market Segmentation
Connected Devices- glucose and blood pressure monitor
- peak flow meter
- pulse oximeter
- neurological monitors
- other connected medical devices
- weight loss
- womenÂ’s health
- diabetes management
- mental health
- chronic disease management apps
- diagnostic apps
- others
- remote monitoring
- consultation
- diagnosis services
- treatment services
- fitness and wellness services
- prevention services
- 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
mhealth Solutions Market Growth Drivers- Increased Prevalence of Chronic: Some of the major mhealth solutions market growth drivers are the increasing prevalence of chronic diseases that require continuous patient monitoring and management. Chronic diseases account for almost 60% of healthcare costs globally, hence it is a strong push for healthcare providers to embrace mHealth solutions to effectively manage it.
- Penetration of Smartphones: Penetration of smartphones and internet connectivity, especially in emerging markets, is propelling the market to grow. Pressure in preventive health care further forces patients and care providers to make use of mHealth solutions that allow them to engage in proactive health management. In 2021, mHealth, in the form of telehealth, captured about 25 percent market share.
- Advancement in wearable technology: Health monitoring devices would lead the charge on innovation and improve patient engagement and compliance. Over the years, the convergence of healthcare and technology has presented new avenues for delivery and access of healthcare services through mHealth solutions.
- Attention to Security and Privacy: The AI-powered mHealth market will bring about tremendous growth, thereby on-adding to the overall mHealth solutions market size. The trend toward attention to the security and privacy of data is therefore another emerging trend. As the regulations continue to get tighter in health care, mHealth solutions shall have more security, especially for the protection of sensitive patient information, as this impacts on design and functionality.
- Interoperability: Another growing trend is interoperability. So far, there is an emerging tendency of healthcare systems to seek seamless integration of their mHealth solutions with existing EHRs. With such integration, the sharing of the data will improve and care coordination will be enhanced.
- Telemedicine and remote monitoring: Telemedicine will continue its leadership position, capturing a large portion of the market through 2025. The urge of the Covid-19 pandemic has forced many people to be accepting of telehealth, which has already triggered major changes in the interaction between patients and their providers.
- Innovation: The mHealth solutions market is full of huge growth and innovation opportunities. As a result of the growing demand for telehealth, tremendous potential lies in growth for those companies that are developing platforms that support the delivery of remote consultations and chronic disease management. The Telehealth segment is likely to capture a significant market share as well due to patients opting for ease of access to health services.
- Adoption of Wearable: Currently, wearables comprise about 18% of the total mHealth market, which is going to grow because more health-conscious consumers are wearing fitness trackers or smartwatches. Growing adoption of wearables to favor market growth.
- Formation of partnerships: Collaboration and partnerships among technology companies and healthcare service providers. Such partnerships are likely to be able to improve product options and drive faster market entry into new markets, especially in regions where healthcare infrastructures are being developed.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the mhealth Solutions 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 mhealth Solutions 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
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Key Players in this market are - AT and T Intellectual Property, Apple Inc, Qualcomm Technologies Inc, iHealth Labs Inc, Koninklijke Philips N V, ZTE Corporation, Zebra Technologies Corp, Johnson and Johnson Services Inc, BioTelemetry Inc
Future trends in mHealth include the integration of AI and machine learning for personalized insights, a focus on data security and privacy, increased interoperability with electronic health records, continued dominance of telemedicine, and a growing emphasis on mental health applications.
The market is expected to register a CAGR of 14.0% during 2023-2031
Key mHealth solutions market drivers include the rise in chronic diseases, smartphone penetration, preventive healthcare focus, advancements in wearable technology, and increased adoption of telehealth services.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Mhealth Solutions Market - By Connected Devices
1.3.2 Mhealth Solutions Market - By Application
1.3.3 Mhealth Solutions Market - By Services
1.3.4 Mhealth Solutions Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MHEALTH SOLUTIONS 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. EXPERT OPINIONS
5. MHEALTH SOLUTIONS 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. MHEALTH SOLUTIONS MARKET - GLOBAL MARKET ANALYSIS
6.1. MHEALTH SOLUTIONS - GLOBAL MARKET OVERVIEW
6.2. MHEALTH SOLUTIONS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. MHEALTH SOLUTIONS MARKET - REVENUE AND FORECASTS TO 2028 - CONNECTED DEVICES
7.1. OVERVIEW
7.2. CONNECTED DEVICES MARKET FORECASTS AND ANALYSIS
7.3. GLUCOSE AND BLOOD PRESSURE MONITOR
7.3.1. Overview
7.3.2. Glucose and Blood Pressure Monitor Market Forecast and Analysis
7.4. PEAK FLOW METER
7.4.1. Overview
7.4.2. Peak Flow Meter Market Forecast and Analysis
7.5. PULSE OXIMETER
7.5.1. Overview
7.5.2. Pulse Oximeter Market Forecast and Analysis
7.6. NEUROLOGICAL MONITORS
7.6.1. Overview
7.6.2. Neurological Monitors Market Forecast and Analysis
7.7. OTHER CONNECTED MEDICAL DEVICES
7.7.1. Overview
7.7.2. Other Connected Medical Devices Market Forecast and Analysis
8. MHEALTH SOLUTIONS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. WEIGHT LOSS
8.3.1. Overview
8.3.2. Weight Loss Market Forecast and Analysis
8.4. WOMEN HEALTH
8.4.1. Overview
8.4.2. Women Health Market Forecast and Analysis
8.5. DIABETES MANAGEMENT
8.5.1. Overview
8.5.2. Diabetes Management Market Forecast and Analysis
8.6. MENTAL HEALTH
8.6.1. Overview
8.6.2. Mental Health Market Forecast and Analysis
8.7. CHRONIC DISEASE MANAGEMENT APPS
8.7.1. Overview
8.7.2. Chronic Disease Management Apps Market Forecast and Analysis
8.8. DIAGNOSTIC APPS
8.8.1. Overview
8.8.2. Diagnostic Apps Market Forecast and Analysis
8.9. OTHERS
8.9.1. Overview
8.9.2. Others Market Forecast and Analysis
9. MHEALTH SOLUTIONS MARKET - REVENUE AND FORECASTS TO 2028 - SERVICES
9.1. OVERVIEW
9.2. SERVICES MARKET FORECASTS AND ANALYSIS
9.3. REMOTE MONITORING
9.3.1. Overview
9.3.2. Remote Monitoring Market Forecast and Analysis
9.4. CONSULTATION
9.4.1. Overview
9.4.2. Consultation Market Forecast and Analysis
9.5. DIAGNOSIS SERVICES
9.5.1. Overview
9.5.2. Diagnosis Services Market Forecast and Analysis
9.6. TREATMENT SERVICES
9.6.1. Overview
9.6.2. Treatment Services Market Forecast and Analysis
9.7. FITNESS AND WELLNESS SERVICES
9.7.1. Overview
9.7.2. Fitness and Wellness Services Market Forecast and Analysis
9.8. PREVENTION SERVICES.
9.8.1. Overview
9.8.2. Prevention Services. Market Forecast and Analysis
10. MHEALTH SOLUTIONS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Mhealth Solutions Market Overview
10.1.2 North America Mhealth Solutions Market Forecasts and Analysis
10.1.3 North America Mhealth Solutions Market Forecasts and Analysis - By Connected Devices
10.1.4 North America Mhealth Solutions Market Forecasts and Analysis - By Application
10.1.5 North America Mhealth Solutions Market Forecasts and Analysis - By Services
10.1.6 North America Mhealth Solutions Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Mhealth Solutions Market
10.1.6.1.1 Canada Mhealth Solutions Market by Connected Devices
10.1.6.1.2 Canada Mhealth Solutions Market by Application
10.1.6.1.3 Canada Mhealth Solutions Market by Services
10.1.6.2 Mexico Mhealth Solutions Market
10.1.6.2.1 Mexico Mhealth Solutions Market by Connected Devices
10.1.6.2.2 Mexico Mhealth Solutions Market by Application
10.1.6.2.3 Mexico Mhealth Solutions Market by Services
10.1.6.3 US Mhealth Solutions Market
10.1.6.3.1 US Mhealth Solutions Market by Connected Devices
10.1.6.3.2 US Mhealth Solutions Market by Application
10.1.6.3.3 US Mhealth Solutions Market by Services
10.2. EUROPE
10.2.1 Europe Mhealth Solutions Market Overview
10.2.2 Europe Mhealth Solutions Market Forecasts and Analysis
10.2.3 Europe Mhealth Solutions Market Forecasts and Analysis - By Connected Devices
10.2.4 Europe Mhealth Solutions Market Forecasts and Analysis - By Application
10.2.5 Europe Mhealth Solutions Market Forecasts and Analysis - By Services
10.2.6 Europe Mhealth Solutions Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Mhealth Solutions Market
10.2.6.1.1 Germany Mhealth Solutions Market by Connected Devices
10.2.6.1.2 Germany Mhealth Solutions Market by Application
10.2.6.1.3 Germany Mhealth Solutions Market by Services
10.2.6.2 France Mhealth Solutions Market
10.2.6.2.1 France Mhealth Solutions Market by Connected Devices
10.2.6.2.2 France Mhealth Solutions Market by Application
10.2.6.2.3 France Mhealth Solutions Market by Services
10.2.6.3 Italy Mhealth Solutions Market
10.2.6.3.1 Italy Mhealth Solutions Market by Connected Devices
10.2.6.3.2 Italy Mhealth Solutions Market by Application
10.2.6.3.3 Italy Mhealth Solutions Market by Services
10.2.6.4 Spain Mhealth Solutions Market
10.2.6.4.1 Spain Mhealth Solutions Market by Connected Devices
10.2.6.4.2 Spain Mhealth Solutions Market by Application
10.2.6.4.3 Spain Mhealth Solutions Market by Services
10.2.6.5 United Kingdom Mhealth Solutions Market
10.2.6.5.1 United Kingdom Mhealth Solutions Market by Connected Devices
10.2.6.5.2 United Kingdom Mhealth Solutions Market by Application
10.2.6.5.3 United Kingdom Mhealth Solutions Market by Services
10.2.6.6 Rest of Europe Mhealth Solutions Market
10.2.6.6.1 Rest of Europe Mhealth Solutions Market by Connected Devices
10.2.6.6.2 Rest of Europe Mhealth Solutions Market by Application
10.2.6.6.3 Rest of Europe Mhealth Solutions Market by Services
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Mhealth Solutions Market Overview
10.3.2 Asia-Pacific Mhealth Solutions Market Forecasts and Analysis
10.3.3 Asia-Pacific Mhealth Solutions Market Forecasts and Analysis - By Connected Devices
10.3.4 Asia-Pacific Mhealth Solutions Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Mhealth Solutions Market Forecasts and Analysis - By Services
10.3.6 Asia-Pacific Mhealth Solutions Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Mhealth Solutions Market
10.3.6.1.1 Australia Mhealth Solutions Market by Connected Devices
10.3.6.1.2 Australia Mhealth Solutions Market by Application
10.3.6.1.3 Australia Mhealth Solutions Market by Services
10.3.6.2 China Mhealth Solutions Market
10.3.6.2.1 China Mhealth Solutions Market by Connected Devices
10.3.6.2.2 China Mhealth Solutions Market by Application
10.3.6.2.3 China Mhealth Solutions Market by Services
10.3.6.3 India Mhealth Solutions Market
10.3.6.3.1 India Mhealth Solutions Market by Connected Devices
10.3.6.3.2 India Mhealth Solutions Market by Application
10.3.6.3.3 India Mhealth Solutions Market by Services
10.3.6.4 Japan Mhealth Solutions Market
10.3.6.4.1 Japan Mhealth Solutions Market by Connected Devices
10.3.6.4.2 Japan Mhealth Solutions Market by Application
10.3.6.4.3 Japan Mhealth Solutions Market by Services
10.3.6.5 South Korea Mhealth Solutions Market
10.3.6.5.1 South Korea Mhealth Solutions Market by Connected Devices
10.3.6.5.2 South Korea Mhealth Solutions Market by Application
10.3.6.5.3 South Korea Mhealth Solutions Market by Services
10.3.6.6 Rest of Asia-Pacific Mhealth Solutions Market
10.3.6.6.1 Rest of Asia-Pacific Mhealth Solutions Market by Connected Devices
10.3.6.6.2 Rest of Asia-Pacific Mhealth Solutions Market by Application
10.3.6.6.3 Rest of Asia-Pacific Mhealth Solutions Market by Services
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Mhealth Solutions Market Overview
10.4.2 Middle East and Africa Mhealth Solutions Market Forecasts and Analysis
10.4.3 Middle East and Africa Mhealth Solutions Market Forecasts and Analysis - By Connected Devices
10.4.4 Middle East and Africa Mhealth Solutions Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Mhealth Solutions Market Forecasts and Analysis - By Services
10.4.6 Middle East and Africa Mhealth Solutions Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Mhealth Solutions Market
10.4.6.1.1 South Africa Mhealth Solutions Market by Connected Devices
10.4.6.1.2 South Africa Mhealth Solutions Market by Application
10.4.6.1.3 South Africa Mhealth Solutions Market by Services
10.4.6.2 Saudi Arabia Mhealth Solutions Market
10.4.6.2.1 Saudi Arabia Mhealth Solutions Market by Connected Devices
10.4.6.2.2 Saudi Arabia Mhealth Solutions Market by Application
10.4.6.2.3 Saudi Arabia Mhealth Solutions Market by Services
10.4.6.3 U.A.E Mhealth Solutions Market
10.4.6.3.1 U.A.E Mhealth Solutions Market by Connected Devices
10.4.6.3.2 U.A.E Mhealth Solutions Market by Application
10.4.6.3.3 U.A.E Mhealth Solutions Market by Services
10.4.6.4 Rest of Middle East and Africa Mhealth Solutions Market
10.4.6.4.1 Rest of Middle East and Africa Mhealth Solutions Market by Connected Devices
10.4.6.4.2 Rest of Middle East and Africa Mhealth Solutions Market by Application
10.4.6.4.3 Rest of Middle East and Africa Mhealth Solutions Market by Services
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Mhealth Solutions Market Overview
10.5.2 South and Central America Mhealth Solutions Market Forecasts and Analysis
10.5.3 South and Central America Mhealth Solutions Market Forecasts and Analysis - By Connected Devices
10.5.4 South and Central America Mhealth Solutions Market Forecasts and Analysis - By Application
10.5.5 South and Central America Mhealth Solutions Market Forecasts and Analysis - By Services
10.5.6 South and Central America Mhealth Solutions Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Mhealth Solutions Market
10.5.6.1.1 Brazil Mhealth Solutions Market by Connected Devices
10.5.6.1.2 Brazil Mhealth Solutions Market by Application
10.5.6.1.3 Brazil Mhealth Solutions Market by Services
10.5.6.2 Argentina Mhealth Solutions Market
10.5.6.2.1 Argentina Mhealth Solutions Market by Connected Devices
10.5.6.2.2 Argentina Mhealth Solutions Market by Application
10.5.6.2.3 Argentina Mhealth Solutions Market by Services
10.5.6.3 Rest of South and Central America Mhealth Solutions Market
10.5.6.3.1 Rest of South and Central America Mhealth Solutions Market by Connected Devices
10.5.6.3.2 Rest of South and Central America Mhealth Solutions Market by Application
10.5.6.3.3 Rest of South and Central America Mhealth Solutions Market by Services
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. MHEALTH SOLUTIONS MARKET, KEY COMPANY PROFILES
12.1. AT AND T INTELLECTUAL PROPERTY
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. APPLE 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. QUALCOMM TECHNOLOGIES, 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. IHEALTH LABS 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. KONINKLIJKE PHILIPS N.V
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. ZTE 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. ZEBRA TECHNOLOGIES CORP.
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. JOHNSON AND JOHNSON SERVICES, INC.
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. BIOTELEMETRY, INC.
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. ATHENAHEALTH
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. AT and T Intellectual Property
2. Apple Inc.
3. Qualcomm Technologies, Inc.
4. iHealth Labs Inc.
5. Koninklijke Philips N.V
6. ZTE Corporation
7. Zebra Technologies Corp.
8. Johnson and Johnson Services, Inc.
9. BioTelemetry, Inc.
10. Athenahealth
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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