Non-Destructive Testing Equipment Market Dynamics 2021-2031
A non-destructive testing equipment is used for evaluation as well as inspection of several properties of components, materials and assemblies. The equipment do not change, or damage to the material that are exposed to evaluation. Further, they are deployed to analyze the properties of materials as well as constructions with regard to ductility, impact resistance, ultimate tensile strength, fracture toughness, as well as fatigue strength.
MARKET DYNAMICS
Key factors driving the growth of non-destructive testing equipment market includes stringent safety regulations regarding quality control, reliable performance and safety of machines in the end-use industries. Further, emphasis on enhancing the quality as well as durability of the materials is another significant factor bolstering the growth of non-destructive testing equipment market. Moreover, advancements in robotics, electronics and automation, as well as, development of convenient software have resulted in high adoption of these equipment among end-users. Additionally, the incorporation of non-destructive testing equipment facilitates reduction in maintenance and repair costs thus, fueling the growth of non-destructive testing equipment market.
MARKET SCOPE
The "Global Non-Destructive Testing Equipment Market Analysis to 2031" is a specialized and in-depth study of the Non-Destructive Testing Equipment industry with a special focus on the global market trend analysis. The report aims to provide an overview of Non-Destructive Testing Equipment market with detailed market segmentation by method, technique, industry and geography. The global Non-Destructive Testing Equipment market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Non-Destructive Testing Equipment market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global Non-Destructive Testing Equipment market is segmented on the basis of method, technique and industry. Based on the method, the market is segmented into ultrasonic, radiography, visual inspection, magnetic particle testing & electromagnetic testing, eddy-current, liquid penetrant and others. On the basis of the technique, the Non-Destructive Testing Equipment market is classified into volumetric examination, surface examination and others. Further, by industry, the market is segmented into oil & gas, automotive & transportation, energy & power, aerospace & defense, infrastructure and others.
REGIONAL FRAMEWORKThe report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Non-Destructive Testing Equipment market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA) and South America (SAM). The Non-Destructive Testing Equipment market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the Non-Destructive Testing Equipment market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and SAM after evaluating political, economic, social and technological factors affecting the Non-Destructive Testing Equipment market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Non-Destructive Testing Equipment market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA) and South America (SAM). The Non-Destructive Testing Equipment market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the Non-Destructive Testing Equipment market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and SAM after evaluating political, economic, social and technological factors affecting the Non-Destructive Testing Equipment market in these regions.
MARKET PLAYERSThe reports cover key developments in the Non-Destructive Testing Equipment market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from Non-Destructive Testing Equipment market are anticipated to lucrative growth opportunities in the future with the rising demand for Non-Destructive Testing Equipment in the global market. Below mentioned is the list of few companies engaged in the Non-Destructive Testing Equipment market.
The report also includes the profiles of key Non-Destructive Testing Equipment companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last 3 years, the key development in the past five years.
- Ashtead Technology Inc.
- General Electric
- Intertek Group PLC
- Mistras Group Inc.
- Nikon Metrology NV
- Olympus Corporation
- SGS SA
- Sonatest Ltd
- Yxlon International GmbH
- Zetec, Inc.
- 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
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Non-Destructive Testing Equipment Market - By Method
1.3.2 Non-Destructive Testing Equipment Market - By Technique
1.3.3 Non-Destructive Testing Equipment Market - By Industry
1.3.4 Non-Destructive Testing Equipment Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. NON-DESTRUCTIVE TESTING EQUIPMENT 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. NON-DESTRUCTIVE TESTING EQUIPMENT 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. NON-DESTRUCTIVE TESTING EQUIPMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. NON-DESTRUCTIVE TESTING EQUIPMENT - GLOBAL MARKET OVERVIEW
6.2. NON-DESTRUCTIVE TESTING EQUIPMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. NON-DESTRUCTIVE TESTING EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - METHOD
7.1. OVERVIEW
7.2. METHOD MARKET FORECASTS AND ANALYSIS
7.3. ULTRASONIC
7.3.1. Overview
7.3.2. Ultrasonic Market Forecast and Analysis
7.4. RADIOGRAPHY
7.4.1. Overview
7.4.2. Radiography Market Forecast and Analysis
7.5. VISUAL INSPECTION
7.5.1. Overview
7.5.2. Visual Inspection Market Forecast and Analysis
7.6. MAGNETIC PARTICLE AND ELECTROMAGNETIC
7.6.1. Overview
7.6.2. Magnetic Particle and Electromagnetic Market Forecast and Analysis
7.7. EDDY CURRENT
7.7.1. Overview
7.7.2. Eddy Current Market Forecast and Analysis
7.8. LIQUID PENETRANT
7.8.1. Overview
7.8.2. Liquid Penetrant Market Forecast and Analysis
7.9. OTHERS
7.9.1. Overview
7.9.2. Others Market Forecast and Analysis
8. NON-DESTRUCTIVE TESTING EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - TECHNIQUE
8.1. OVERVIEW
8.2. TECHNIQUE MARKET FORECASTS AND ANALYSIS
8.3. VOLUMETRIC EXAMINATION
8.3.1. Overview
8.3.2. Volumetric Examination Market Forecast and Analysis
8.4. SURFACE EXAMINATION
8.4.1. Overview
8.4.2. Surface Examination Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. NON-DESTRUCTIVE TESTING EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY
9.1. OVERVIEW
9.2. INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. OIL GAS
9.3.1. Overview
9.3.2. Oil Gas Market Forecast and Analysis
9.4. AUTOMOTIVE TRANSPORTATION
9.4.1. Overview
9.4.2. Automotive Transportation Market Forecast and Analysis
9.5. ENERGY POWER
9.5.1. Overview
9.5.2. Energy Power Market Forecast and Analysis
9.6. AEROSPACE DEFENSE
9.6.1. Overview
9.6.2. Aerospace Defense Market Forecast and Analysis
9.7. INFRASTRUCTURE
9.7.1. Overview
9.7.2. Infrastructure Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. NON-DESTRUCTIVE TESTING EQUIPMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Non-Destructive Testing Equipment Market Overview
10.1.2 North America Non-Destructive Testing Equipment Market Forecasts and Analysis
10.1.3 North America Non-Destructive Testing Equipment Market Forecasts and Analysis - By Method
10.1.4 North America Non-Destructive Testing Equipment Market Forecasts and Analysis - By Technique
10.1.5 North America Non-Destructive Testing Equipment Market Forecasts and Analysis - By Industry
10.1.6 North America Non-Destructive Testing Equipment Market Forecasts and Analysis - By Countries
10.1.6.1 United States Non-Destructive Testing Equipment Market
10.1.6.1.1 United States Non-Destructive Testing Equipment Market by Method
10.1.6.1.2 United States Non-Destructive Testing Equipment Market by Technique
10.1.6.1.3 United States Non-Destructive Testing Equipment Market by Industry
10.1.6.2 Canada Non-Destructive Testing Equipment Market
10.1.6.2.1 Canada Non-Destructive Testing Equipment Market by Method
10.1.6.2.2 Canada Non-Destructive Testing Equipment Market by Technique
10.1.6.2.3 Canada Non-Destructive Testing Equipment Market by Industry
10.1.6.3 Mexico Non-Destructive Testing Equipment Market
10.1.6.3.1 Mexico Non-Destructive Testing Equipment Market by Method
10.1.6.3.2 Mexico Non-Destructive Testing Equipment Market by Technique
10.1.6.3.3 Mexico Non-Destructive Testing Equipment Market by Industry
10.2. EUROPE
10.2.1 Europe Non-Destructive Testing Equipment Market Overview
10.2.2 Europe Non-Destructive Testing Equipment Market Forecasts and Analysis
10.2.3 Europe Non-Destructive Testing Equipment Market Forecasts and Analysis - By Method
10.2.4 Europe Non-Destructive Testing Equipment Market Forecasts and Analysis - By Technique
10.2.5 Europe Non-Destructive Testing Equipment Market Forecasts and Analysis - By Industry
10.2.6 Europe Non-Destructive Testing Equipment Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Non-Destructive Testing Equipment Market
10.2.6.1.1 Germany Non-Destructive Testing Equipment Market by Method
10.2.6.1.2 Germany Non-Destructive Testing Equipment Market by Technique
10.2.6.1.3 Germany Non-Destructive Testing Equipment Market by Industry
10.2.6.2 France Non-Destructive Testing Equipment Market
10.2.6.2.1 France Non-Destructive Testing Equipment Market by Method
10.2.6.2.2 France Non-Destructive Testing Equipment Market by Technique
10.2.6.2.3 France Non-Destructive Testing Equipment Market by Industry
10.2.6.3 Italy Non-Destructive Testing Equipment Market
10.2.6.3.1 Italy Non-Destructive Testing Equipment Market by Method
10.2.6.3.2 Italy Non-Destructive Testing Equipment Market by Technique
10.2.6.3.3 Italy Non-Destructive Testing Equipment Market by Industry
10.2.6.4 United Kingdom Non-Destructive Testing Equipment Market
10.2.6.4.1 United Kingdom Non-Destructive Testing Equipment Market by Method
10.2.6.4.2 United Kingdom Non-Destructive Testing Equipment Market by Technique
10.2.6.4.3 United Kingdom Non-Destructive Testing Equipment Market by Industry
10.2.6.5 Russia Non-Destructive Testing Equipment Market
10.2.6.5.1 Russia Non-Destructive Testing Equipment Market by Method
10.2.6.5.2 Russia Non-Destructive Testing Equipment Market by Technique
10.2.6.5.3 Russia Non-Destructive Testing Equipment Market by Industry
10.2.6.6 Rest of Europe Non-Destructive Testing Equipment Market
10.2.6.6.1 Rest of Europe Non-Destructive Testing Equipment Market by Method
10.2.6.6.2 Rest of Europe Non-Destructive Testing Equipment Market by Technique
10.2.6.6.3 Rest of Europe Non-Destructive Testing Equipment Market by Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Non-Destructive Testing Equipment Market Overview
10.3.2 Asia-Pacific Non-Destructive Testing Equipment Market Forecasts and Analysis
10.3.3 Asia-Pacific Non-Destructive Testing Equipment Market Forecasts and Analysis - By Method
10.3.4 Asia-Pacific Non-Destructive Testing Equipment Market Forecasts and Analysis - By Technique
10.3.5 Asia-Pacific Non-Destructive Testing Equipment Market Forecasts and Analysis - By Industry
10.3.6 Asia-Pacific Non-Destructive Testing Equipment Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Non-Destructive Testing Equipment Market
10.3.6.1.1 Australia Non-Destructive Testing Equipment Market by Method
10.3.6.1.2 Australia Non-Destructive Testing Equipment Market by Technique
10.3.6.1.3 Australia Non-Destructive Testing Equipment Market by Industry
10.3.6.2 China Non-Destructive Testing Equipment Market
10.3.6.2.1 China Non-Destructive Testing Equipment Market by Method
10.3.6.2.2 China Non-Destructive Testing Equipment Market by Technique
10.3.6.2.3 China Non-Destructive Testing Equipment Market by Industry
10.3.6.3 India Non-Destructive Testing Equipment Market
10.3.6.3.1 India Non-Destructive Testing Equipment Market by Method
10.3.6.3.2 India Non-Destructive Testing Equipment Market by Technique
10.3.6.3.3 India Non-Destructive Testing Equipment Market by Industry
10.3.6.4 Japan Non-Destructive Testing Equipment Market
10.3.6.4.1 Japan Non-Destructive Testing Equipment Market by Method
10.3.6.4.2 Japan Non-Destructive Testing Equipment Market by Technique
10.3.6.4.3 Japan Non-Destructive Testing Equipment Market by Industry
10.3.6.5 South Korea Non-Destructive Testing Equipment Market
10.3.6.5.1 South Korea Non-Destructive Testing Equipment Market by Method
10.3.6.5.2 South Korea Non-Destructive Testing Equipment Market by Technique
10.3.6.5.3 South Korea Non-Destructive Testing Equipment Market by Industry
10.3.6.6 Rest of Asia-Pacific Non-Destructive Testing Equipment Market
10.3.6.6.1 Rest of Asia-Pacific Non-Destructive Testing Equipment Market by Method
10.3.6.6.2 Rest of Asia-Pacific Non-Destructive Testing Equipment Market by Technique
10.3.6.6.3 Rest of Asia-Pacific Non-Destructive Testing Equipment Market by Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Non-Destructive Testing Equipment Market Overview
10.4.2 Middle East and Africa Non-Destructive Testing Equipment Market Forecasts and Analysis
10.4.3 Middle East and Africa Non-Destructive Testing Equipment Market Forecasts and Analysis - By Method
10.4.4 Middle East and Africa Non-Destructive Testing Equipment Market Forecasts and Analysis - By Technique
10.4.5 Middle East and Africa Non-Destructive Testing Equipment Market Forecasts and Analysis - By Industry
10.4.6 Middle East and Africa Non-Destructive Testing Equipment Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Non-Destructive Testing Equipment Market
10.4.6.1.1 South Africa Non-Destructive Testing Equipment Market by Method
10.4.6.1.2 South Africa Non-Destructive Testing Equipment Market by Technique
10.4.6.1.3 South Africa Non-Destructive Testing Equipment Market by Industry
10.4.6.2 Saudi Arabia Non-Destructive Testing Equipment Market
10.4.6.2.1 Saudi Arabia Non-Destructive Testing Equipment Market by Method
10.4.6.2.2 Saudi Arabia Non-Destructive Testing Equipment Market by Technique
10.4.6.2.3 Saudi Arabia Non-Destructive Testing Equipment Market by Industry
10.4.6.3 U.A.E Non-Destructive Testing Equipment Market
10.4.6.3.1 U.A.E Non-Destructive Testing Equipment Market by Method
10.4.6.3.2 U.A.E Non-Destructive Testing Equipment Market by Technique
10.4.6.3.3 U.A.E Non-Destructive Testing Equipment Market by Industry
10.4.6.4 Rest of Middle East and Africa Non-Destructive Testing Equipment Market
10.4.6.4.1 Rest of Middle East and Africa Non-Destructive Testing Equipment Market by Method
10.4.6.4.2 Rest of Middle East and Africa Non-Destructive Testing Equipment Market by Technique
10.4.6.4.3 Rest of Middle East and Africa Non-Destructive Testing Equipment Market by Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Non-Destructive Testing Equipment Market Overview
10.5.2 South and Central America Non-Destructive Testing Equipment Market Forecasts and Analysis
10.5.3 South and Central America Non-Destructive Testing Equipment Market Forecasts and Analysis - By Method
10.5.4 South and Central America Non-Destructive Testing Equipment Market Forecasts and Analysis - By Technique
10.5.5 South and Central America Non-Destructive Testing Equipment Market Forecasts and Analysis - By Industry
10.5.6 South and Central America Non-Destructive Testing Equipment Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Non-Destructive Testing Equipment Market
10.5.6.1.1 Brazil Non-Destructive Testing Equipment Market by Method
10.5.6.1.2 Brazil Non-Destructive Testing Equipment Market by Technique
10.5.6.1.3 Brazil Non-Destructive Testing Equipment Market by Industry
10.5.6.2 Argentina Non-Destructive Testing Equipment Market
10.5.6.2.1 Argentina Non-Destructive Testing Equipment Market by Method
10.5.6.2.2 Argentina Non-Destructive Testing Equipment Market by Technique
10.5.6.2.3 Argentina Non-Destructive Testing Equipment Market by Industry
10.5.6.3 Rest of South and Central America Non-Destructive Testing Equipment Market
10.5.6.3.1 Rest of South and Central America Non-Destructive Testing Equipment Market by Method
10.5.6.3.2 Rest of South and Central America Non-Destructive Testing Equipment Market by Technique
10.5.6.3.3 Rest of South and Central America Non-Destructive Testing Equipment Market by Industry
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. NON-DESTRUCTIVE TESTING EQUIPMENT MARKET, KEY COMPANY PROFILES
12.1. ASHTEAD TECHNOLOGY INC.
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. GENERAL ELECTRIC
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. INTERTEK GROUP PLC
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. MISTRAS GROUP 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. NIKON METROLOGY NV
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. OLYMPUS 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. SGS SA
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. SONATEST LTD
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. YXLON INTERNATIONAL GMBH
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. ZETEC INC.
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. Ashtead Technology Inc.
2. General Electric
3. Intertek Group PLC
4. Mistras Group Inc.
5. Nikon Metrology NV
6. Olympus Corporation
7. SGS SA
8. Sonatest Ltd
9. Yxlon International GmbH
10. Zetec Inc.
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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