Navigation in Surgery Market Drivers and Opportunities [2021-2031]
The Navigation in Surgery Market is expected to register a CAGR of 6.6% 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 Technology (Optical, Electromagnetic, Hybrid). The report is further segmented based on Application (Neurosurgery navigation systems, Orthopaedic navigation systems, ENT navigation systems, Spinal navigation systems, Dental navigation systems). Futher, it is segmented based on End User (Hospitals, Ambulatory Surgical Centres). 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 Navigation in Surgery 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.
Navigation in Surgery Market Segmentation
Technology- Optical
- Electromagnetic
- Hybrid
- Neurosurgery navigation systems
- Orthopaedic navigation systems
- ENT navigation systems
- Spinal navigation systems
- Dental navigation systems
- Hospitals
- Ambulatory Surgical Centres
Strategic Insights
Navigation in Surgery Market Growth Drivers- Rise in Surgical Procedures: Increasing volumes throughout the world improve surgeon-related volume. The increase in surgical procedures contributes highly to navigation in the surgery market, and this increase continues to grow significantly as more complex surgeries are performed.
- Technological Advancements: inventions in navigation technologies, such as augmented reality and 3D imaging, to achieve progressively accurate surgical planning. This has also led to advancement in patient outcomes and reduced complications, encouraging health care providers to use the state-of-the-art navigation systems for various surgical applications.
- Growing Demand for Minimally Invasive Surgery: The demand for minimally invasive surgery is increasing. This trend boosts navigation in surgery market as it encourages minimal invasive surgical techniques through better visualization and precision, which makes it possible for surgeons to perform surgeries through smaller incisions, thus decreasing recovery time as well as improving patient satisfaction.
- Wearable Navigation Devices for Surgeons: Wearable navigation systems for surgeons are another area with high progress. They give the surgeon real-time guidance during the procedure and provide information during the intervention, enhancing the precision and attention at the site of surgery, thus making the overall process more efficient.
- Patient-Centric Solutions: Navigation systems are designed, developed, and launched to fall in a trend of patient-centric solutions that improve the satisfaction of patients and increase their engagement with the surgical process in which they are involved. Ultimately, the end result will be an improved patient experience.
- Integration of Artificial Intelligence: Artificial intelligence integration into the surgical navigation system has also risen. It enhances better decision-making processes, optimizes surgical planning, and provides intraoperative navigation, thereby offering more efficient and effective surgery.
- Growth of Tele-Surgery: The rise of tele-surgery: tele-surgery, through advanced navigation systems, is emerging to represent a growing trend. Access to surgery and consultations could thus be expanded in specialist care while further enhancing surgical outcomes in underserved regions.
- Medical Institution Partnerships: The idea has been developed with medical institutions and researched together. This can be a totally innovative way to innovate, and it may yield innovations related to navigation technologies aimed at overcoming particular challenges in surgery that have an impact on clinical outcomes.
- Education Programs and Training: Setting up education programs and sessions for healthcare professionals on how to work with navigation systems will enable more professionals to accept the products. Increased knowledge and skills will make manufacturers build confidence in these technologies, thereby pushing them further into the market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Navigation in Surgery 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 Navigation in Surgery 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
Medtronic, Stryker Corporation, Zimmer Biomet Holdings are some of the major players operating in the market.
The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global navigation in surgery market from 2021 to 2031, and it also determines the prevailing opportunities.
Asia Pacific region accounted for the highest CAGR in the navigation in surgery market.
The major factors driving the navigation in surgery market are:
1. Rise in Surgical Procedures.
2. Technological Advancements.
North America region dominated the navigation in surgery market in 2023.
The Navigation in Surgery Market is estimated to witness a CAGR of 6.6% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Navigation In Surgery Market - By Technology
1.3.2 Navigation In Surgery Market - By Application
1.3.3 Navigation In Surgery Market - By End User
1.3.4 Navigation In Surgery Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. NAVIGATION IN SURGERY 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. NAVIGATION IN SURGERY 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. NAVIGATION IN SURGERY MARKET - GLOBAL MARKET ANALYSIS
6.1. NAVIGATION IN SURGERY - GLOBAL MARKET OVERVIEW
6.2. NAVIGATION IN SURGERY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. NAVIGATION IN SURGERY MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
7.1. OVERVIEW
7.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. OPTICAL
7.3.1. Overview
7.3.2. Optical Market Forecast and Analysis
7.4. ELECTROMAGNETIC (EM)
7.4.1. Overview
7.4.2. Electromagnetic (EM) Market Forecast and Analysis
7.5. HYBRID
7.5.1. Overview
7.5.2. Hybrid Market Forecast and Analysis
8. NAVIGATION IN SURGERY MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. NEUROSURGERY NAVIGATION SYSTEMS
8.3.1. Overview
8.3.2. Neurosurgery navigation systems Market Forecast and Analysis
8.4. ORTHOPEDIC NAVIGATION SYSTEMS
8.4.1. Overview
8.4.2. Orthopedic navigation systems Market Forecast and Analysis
8.5. ENT NAVIGATION SYSTEMS
8.5.1. Overview
8.5.2. ENT navigation systems Market Forecast and Analysis
8.6. SPINAL NAVIGATION SYSTEMS
8.6.1. Overview
8.6.2. Spinal navigation systems Market Forecast and Analysis
8.7. DENTAL NAVIGATION SYSTEMS
8.7.1. Overview
8.7.2. Dental navigation systems Market Forecast and Analysis
9. NAVIGATION IN SURGERY MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS
9.3.1. Overview
9.3.2. Hospitals Market Forecast and Analysis
9.4. AMBULATORY SURGICAL CENTERS
9.4.1. Overview
9.4.2. Ambulatory Surgical Centers Market Forecast and Analysis
10. NAVIGATION IN SURGERY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Navigation In Surgery Market Overview
10.1.2 North America Navigation In Surgery Market Forecasts and Analysis
10.1.3 North America Navigation In Surgery Market Forecasts and Analysis - By Technology
10.1.4 North America Navigation In Surgery Market Forecasts and Analysis - By Application
10.1.5 North America Navigation In Surgery Market Forecasts and Analysis - By End User
10.1.6 North America Navigation In Surgery Market Forecasts and Analysis - By Countries
10.1.6.1 United States Navigation In Surgery Market
10.1.6.1.1 United States Navigation In Surgery Market by Technology
10.1.6.1.2 United States Navigation In Surgery Market by Application
10.1.6.1.3 United States Navigation In Surgery Market by End User
10.1.6.2 Canada Navigation In Surgery Market
10.1.6.2.1 Canada Navigation In Surgery Market by Technology
10.1.6.2.2 Canada Navigation In Surgery Market by Application
10.1.6.2.3 Canada Navigation In Surgery Market by End User
10.1.6.3 Mexico Navigation In Surgery Market
10.1.6.3.1 Mexico Navigation In Surgery Market by Technology
10.1.6.3.2 Mexico Navigation In Surgery Market by Application
10.1.6.3.3 Mexico Navigation In Surgery Market by End User
10.2. EUROPE
10.2.1 Europe Navigation In Surgery Market Overview
10.2.2 Europe Navigation In Surgery Market Forecasts and Analysis
10.2.3 Europe Navigation In Surgery Market Forecasts and Analysis - By Technology
10.2.4 Europe Navigation In Surgery Market Forecasts and Analysis - By Application
10.2.5 Europe Navigation In Surgery Market Forecasts and Analysis - By End User
10.2.6 Europe Navigation In Surgery Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Navigation In Surgery Market
10.2.6.1.1 Germany Navigation In Surgery Market by Technology
10.2.6.1.2 Germany Navigation In Surgery Market by Application
10.2.6.1.3 Germany Navigation In Surgery Market by End User
10.2.6.2 France Navigation In Surgery Market
10.2.6.2.1 France Navigation In Surgery Market by Technology
10.2.6.2.2 France Navigation In Surgery Market by Application
10.2.6.2.3 France Navigation In Surgery Market by End User
10.2.6.3 Italy Navigation In Surgery Market
10.2.6.3.1 Italy Navigation In Surgery Market by Technology
10.2.6.3.2 Italy Navigation In Surgery Market by Application
10.2.6.3.3 Italy Navigation In Surgery Market by End User
10.2.6.4 Spain Navigation In Surgery Market
10.2.6.4.1 Spain Navigation In Surgery Market by Technology
10.2.6.4.2 Spain Navigation In Surgery Market by Application
10.2.6.4.3 Spain Navigation In Surgery Market by End User
10.2.6.5 United Kingdom Navigation In Surgery Market
10.2.6.5.1 United Kingdom Navigation In Surgery Market by Technology
10.2.6.5.2 United Kingdom Navigation In Surgery Market by Application
10.2.6.5.3 United Kingdom Navigation In Surgery Market by End User
10.2.6.6 Rest of Europe Navigation In Surgery Market
10.2.6.6.1 Rest of Europe Navigation In Surgery Market by Technology
10.2.6.6.2 Rest of Europe Navigation In Surgery Market by Application
10.2.6.6.3 Rest of Europe Navigation In Surgery Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Navigation In Surgery Market Overview
10.3.2 Asia-Pacific Navigation In Surgery Market Forecasts and Analysis
10.3.3 Asia-Pacific Navigation In Surgery Market Forecasts and Analysis - By Technology
10.3.4 Asia-Pacific Navigation In Surgery Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Navigation In Surgery Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Navigation In Surgery Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Navigation In Surgery Market
10.3.6.1.1 Australia Navigation In Surgery Market by Technology
10.3.6.1.2 Australia Navigation In Surgery Market by Application
10.3.6.1.3 Australia Navigation In Surgery Market by End User
10.3.6.2 China Navigation In Surgery Market
10.3.6.2.1 China Navigation In Surgery Market by Technology
10.3.6.2.2 China Navigation In Surgery Market by Application
10.3.6.2.3 China Navigation In Surgery Market by End User
10.3.6.3 India Navigation In Surgery Market
10.3.6.3.1 India Navigation In Surgery Market by Technology
10.3.6.3.2 India Navigation In Surgery Market by Application
10.3.6.3.3 India Navigation In Surgery Market by End User
10.3.6.4 Japan Navigation In Surgery Market
10.3.6.4.1 Japan Navigation In Surgery Market by Technology
10.3.6.4.2 Japan Navigation In Surgery Market by Application
10.3.6.4.3 Japan Navigation In Surgery Market by End User
10.3.6.5 South Korea Navigation In Surgery Market
10.3.6.5.1 South Korea Navigation In Surgery Market by Technology
10.3.6.5.2 South Korea Navigation In Surgery Market by Application
10.3.6.5.3 South Korea Navigation In Surgery Market by End User
10.3.6.6 Rest of Asia-Pacific Navigation In Surgery Market
10.3.6.6.1 Rest of Asia-Pacific Navigation In Surgery Market by Technology
10.3.6.6.2 Rest of Asia-Pacific Navigation In Surgery Market by Application
10.3.6.6.3 Rest of Asia-Pacific Navigation In Surgery Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Navigation In Surgery Market Overview
10.4.2 Middle East and Africa Navigation In Surgery Market Forecasts and Analysis
10.4.3 Middle East and Africa Navigation In Surgery Market Forecasts and Analysis - By Technology
10.4.4 Middle East and Africa Navigation In Surgery Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Navigation In Surgery Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Navigation In Surgery Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Navigation In Surgery Market
10.4.6.1.1 South Africa Navigation In Surgery Market by Technology
10.4.6.1.2 South Africa Navigation In Surgery Market by Application
10.4.6.1.3 South Africa Navigation In Surgery Market by End User
10.4.6.2 Saudi Arabia Navigation In Surgery Market
10.4.6.2.1 Saudi Arabia Navigation In Surgery Market by Technology
10.4.6.2.2 Saudi Arabia Navigation In Surgery Market by Application
10.4.6.2.3 Saudi Arabia Navigation In Surgery Market by End User
10.4.6.3 U.A.E Navigation In Surgery Market
10.4.6.3.1 U.A.E Navigation In Surgery Market by Technology
10.4.6.3.2 U.A.E Navigation In Surgery Market by Application
10.4.6.3.3 U.A.E Navigation In Surgery Market by End User
10.4.6.4 Rest of Middle East and Africa Navigation In Surgery Market
10.4.6.4.1 Rest of Middle East and Africa Navigation In Surgery Market by Technology
10.4.6.4.2 Rest of Middle East and Africa Navigation In Surgery Market by Application
10.4.6.4.3 Rest of Middle East and Africa Navigation In Surgery Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Navigation In Surgery Market Overview
10.5.2 South and Central America Navigation In Surgery Market Forecasts and Analysis
10.5.3 South and Central America Navigation In Surgery Market Forecasts and Analysis - By Technology
10.5.4 South and Central America Navigation In Surgery Market Forecasts and Analysis - By Application
10.5.5 South and Central America Navigation In Surgery Market Forecasts and Analysis - By End User
10.5.6 South and Central America Navigation In Surgery Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Navigation In Surgery Market
10.5.6.1.1 Brazil Navigation In Surgery Market by Technology
10.5.6.1.2 Brazil Navigation In Surgery Market by Application
10.5.6.1.3 Brazil Navigation In Surgery Market by End User
10.5.6.2 Argentina Navigation In Surgery Market
10.5.6.2.1 Argentina Navigation In Surgery Market by Technology
10.5.6.2.2 Argentina Navigation In Surgery Market by Application
10.5.6.2.3 Argentina Navigation In Surgery Market by End User
10.5.6.3 Rest of South and Central America Navigation In Surgery Market
10.5.6.3.1 Rest of South and Central America Navigation In Surgery Market by Technology
10.5.6.3.2 Rest of South and Central America Navigation In Surgery Market by Application
10.5.6.3.3 Rest of South and Central America Navigation In Surgery Market by End User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL NAVIGATION IN SURGERY MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. NAVIGATION IN SURGERY MARKET, KEY COMPANY PROFILES
13.1. MEDTRONIC PLC
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. STRYKER CORPORATION
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. BRAINLAB AG
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. B. BRAUN MELSUNGEN AG
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. SCOPIS GMBH
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. FIAGON AG
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. KARL STORZ GMBH AND CO. KG
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. AMPLITUDE SURGICAL
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. ZIMMER BIOMET HOLDINGS, INC.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. SIEMENS HEALTHINEERS
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
13.11. CASCINATION AG
13.11.1. Key Facts
13.11.2. Business Description
13.11.3. Products and Services
13.11.4. Financial Overview
13.11.5. SWOT Analysis
13.11.6. Key Developments
13.12. DEPUY SYNTHES
13.12.1. Key Facts
13.12.2. Business Description
13.12.3. Products and Services
13.12.4. Financial Overview
13.12.5. SWOT Analysis
13.12.6. Key Developments
13.13. GE HEALTHCARE LTD.
13.13.1. Key Facts
13.13.2. Business Description
13.13.3. Products and Services
13.13.4. Financial Overview
13.13.5. SWOT Analysis
13.13.6. Key Developments
13.14. BLUE BELT TECHNOLOGIES
13.14.1. Key Facts
13.14.2. Business Description
13.14.3. Products and Services
13.14.4. Financial Overview
13.14.5. SWOT Analysis
13.14.6. Key Developments
13.15. BRAMSYS INDúSTRIA E COMéRCIO
13.15.1. Key Facts
13.15.2. Business Description
13.15.3. Products and Services
13.15.4. Financial Overview
13.15.5. SWOT Analysis
13.15.6. Key Developments
13.16. CLARON TECHNOLOGY
13.16.1. Key Facts
13.16.2. Business Description
13.16.3. Products and Services
13.16.4. Financial Overview
13.16.5. SWOT Analysis
13.16.6. Key Developments
13.17. NVIEW MEDICAL
13.17.1. Key Facts
13.17.2. Business Description
13.17.3. Products and Services
13.17.4. Financial Overview
13.17.5. SWOT Analysis
13.17.6. Key Developments
13.18. NAVIGATE SURGICAL TECHNOLOGIES INC.
13.18.1. Key Facts
13.18.2. Business Description
13.18.3. Products and Services
13.18.4. Financial Overview
13.18.5. SWOT Analysis
13.18.6. Key Developments
13.19. NAVISWISS
13.19.1. Key Facts
13.19.2. Business Description
13.19.3. Products and Services
13.19.4. Financial Overview
13.19.5. SWOT Analysis
13.19.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Medtronic plc
2. Stryker Corporation
3. Brainlab AG
4. B. Braun Melsungen AG
5. Scopis GmbH
6. Fiagon AG
7. Karl Storz GmbH and Co. KG
8. Amplitude Surgical
9. Zimmer Biomet Holdings, Inc.
10. Siemens Healthineers
11. CAScination AG
12. DePuy Synthes
13. GE Healthcare Ltd.
14. Blue Belt Technologies
15. Bramsys Indústria e Comércio
16. Claron Technology
17. nView medical
18. nView medical
19. Navigate Surgical Technologies Inc.
20. NAVISWISS
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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