Ocean Freight Market Analysis 2021-2031 | Top Players
The Ocean Freight Market is expected to register a CAGR of 2.8% 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 Offering (Solution, Service); Carrier Type (Containers, Bulk Carriers, Tankers, Others); Freight Type (Less than Container Load LCL, Full Container Load FCL, Others); Industry Vertical (Automotive, Manufacturing, Electrical and Electronics, Government, Others). 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 Ocean Freight 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.
Ocean Freight Market Segmentation
Offering- Solution
- Service
- Containers
- Bulk Carriers
- Tankers
- Others
- Less than Container Load LCL
- Full Container Load FCL
- Others
- Automotive
- Manufacturing
- Electrical and Electronics
- Government
- Others
- Automotive
- Manufacturing
- Electrical and Electronics
- Government
- Others
Strategic Insights
Ocean Freight Market Growth Drivers- Global Maritime Trade Growth in the World: The most important growth factor for the ocean freight market is the growth of global trade. As economies integrate into the world economy, there has been an increased need for international shipping across borders to support the increase in commerce between countries. Growth factors include the rise of e-commerce, new markets opening up, and having an efficient supply chain in place.
- Containerization and Shipping Efficiency Improvement: More adoption has resulted in greater shipping efficiency and capacity. The whole cargo handling system has made things so smooth that the turnaround time and the costs incurred by shipping companies have gone down. The more shipping activities are increased by containers, the higher demand will be for ocean freight services.
- Regulatory Changes and Environmental Policies for Reducing Emissions: Environmental policies and regulations are affecting the ocean freight market. Shippers are adopting cleaner technologies that include low-sulfur fuels and alternative energy to comply with the regulations. In this case, it has been a challenge but also is a catalyst for innovation in this industry.
- Sustainability and Green Shipping Initiatives to Boost Ocean Freight: The ocean freight market is on a sustainability course, and most shipping companies are gaining attention based on their green initiatives. This is so because the marketplace is interested in energy efficiency and other vessels, the waste minimization process for operations that can make all that's involved in shipments not detrimental to the environmental habitat.
- Digitalization of Freight Operations in the World: Ocean freight is increasingly digitizing as a business to the point that shipping firms are relying on digital platforms more than ever for booking, monitoring, or managing shipments-all of which can eventually lead to increased transparency, efficient customer service, and efficient processing-making it less complicated for shippers or freight forwarders to gain effective performance in a very competitive environment.
- Technological Innovations and Integration of Smart Technologies: Automation, IoT, and blockchain open tremendous prospects for the ocean freight market. These can be used to track more effectively and smoothly perform logistics activities while smoothening out processes in the freight business. Shipping companies would be presented with a competitive advantage and services as a result.
- Expansion of E-Commerce Logistics in the World: The ocean freight service line in the cross-border transport industry will attract many new prospects from the e-commerce trend. Whichever firm has a competitive edge by offering niche solutions towards the e-commerce industry for shipment services by speed and reliability will bank on the new market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Ocean Freight 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 Ocean Freight 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 the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The leading players operating in the Ocean Freight Market include A.P. Moller Maersk, DB Schenker, Deutsche Post AG, DHL Group, Expeditors International of Washington Inc., Global Shipping Services LLC, KUEHNE NAGEL, Kvaver LTD., Nippon Express, Panalpina World Transport Holding Ltd.
Focus on Automation and Robotics is the key future trend of the Ocean Freight Market
The Ocean Freight Market is estimated to witness a CAGR of 2.8% from 2023 to 2031
The major factors driving the Ocean Freight Market are: Increasing Global Trade Activities#Ship design and building technology advances
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Ocean Freight Market - By Offering
1.3.2 Ocean Freight Market - By Carrier Type
1.3.3 Ocean Freight Market - By Freight Type
1.3.4 Ocean Freight Market - By Industry Vertical
1.3.5 Ocean Freight Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. OCEAN FREIGHT MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. OCEAN FREIGHT 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. OCEAN FREIGHT MARKET - GLOBAL MARKET ANALYSIS
6.1. OCEAN FREIGHT - GLOBAL MARKET OVERVIEW
6.2. OCEAN FREIGHT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. OCEAN FREIGHT MARKET - REVENUE AND FORECASTS TO 2028 - OFFERING
7.1. OVERVIEW
7.2. OFFERING MARKET FORECASTS AND ANALYSIS
7.3. SOLUTION
7.3.1. Overview
7.3.2. Solution Market Forecast and Analysis
7.4. SERVICE
7.4.1. Overview
7.4.2. Service Market Forecast and Analysis
8. OCEAN FREIGHT MARKET - REVENUE AND FORECASTS TO 2028 - CARRIER TYPE
8.1. OVERVIEW
8.2. CARRIER TYPE MARKET FORECASTS AND ANALYSIS
8.3. CONTAINERS
8.3.1. Overview
8.3.2. Containers Market Forecast and Analysis
8.4. BULK CARRIERS
8.4.1. Overview
8.4.2. Bulk Carriers Market Forecast and Analysis
8.5. TANKERS
8.5.1. Overview
8.5.2. Tankers Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. OCEAN FREIGHT MARKET - REVENUE AND FORECASTS TO 2028 - FREIGHT TYPE
9.1. OVERVIEW
9.2. FREIGHT TYPE MARKET FORECASTS AND ANALYSIS
9.3. LESS THAN CONTAINER LOAD LCL
9.3.1. Overview
9.3.2. Less than Container Load LCL Market Forecast and Analysis
9.4. FULL CONTAINER LOAD FCL
9.4.1. Overview
9.4.2. Full Container Load FCL Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. OCEAN FREIGHT MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY VERTICAL
10.1. OVERVIEW
10.2. INDUSTRY VERTICAL MARKET FORECASTS AND ANALYSIS
10.3. AUTOMOTIVE
10.3.1. Overview
10.3.2. Automotive Market Forecast and Analysis
10.4. MANUFACTURING
10.4.1. Overview
10.4.2. Manufacturing Market Forecast and Analysis
10.5. ELECTRICAL AND ELECTRONICS
10.5.1. Overview
10.5.2. Electrical and Electronics Market Forecast and Analysis
10.6. GOVERNMENT
10.6.1. Overview
10.6.2. Government Market Forecast and Analysis
10.7. OTHERS
10.7.1. Overview
10.7.2. Others Market Forecast and Analysis
11. OCEAN FREIGHT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Ocean Freight Market Overview
11.1.2 North America Ocean Freight Market Forecasts and Analysis
11.1.3 North America Ocean Freight Market Forecasts and Analysis - By Offering
11.1.4 North America Ocean Freight Market Forecasts and Analysis - By Carrier Type
11.1.5 North America Ocean Freight Market Forecasts and Analysis - By Freight Type
11.1.6 North America Ocean Freight Market Forecasts and Analysis - By Industry Vertical
11.1.7 North America Ocean Freight Market Forecasts and Analysis - By Countries
11.1.7.1 United States Ocean Freight Market
11.1.7.1.1 United States Ocean Freight Market by Offering
11.1.7.1.2 United States Ocean Freight Market by Carrier Type
11.1.7.1.3 United States Ocean Freight Market by Freight Type
11.1.7.1.4 United States Ocean Freight Market by Industry Vertical
11.1.7.2 Canada Ocean Freight Market
11.1.7.2.1 Canada Ocean Freight Market by Offering
11.1.7.2.2 Canada Ocean Freight Market by Carrier Type
11.1.7.2.3 Canada Ocean Freight Market by Freight Type
11.1.7.2.4 Canada Ocean Freight Market by Industry Vertical
11.1.7.3 Mexico Ocean Freight Market
11.1.7.3.1 Mexico Ocean Freight Market by Offering
11.1.7.3.2 Mexico Ocean Freight Market by Carrier Type
11.1.7.3.3 Mexico Ocean Freight Market by Freight Type
11.1.7.3.4 Mexico Ocean Freight Market by Industry Vertical
11.2. EUROPE
11.2.1 Europe Ocean Freight Market Overview
11.2.2 Europe Ocean Freight Market Forecasts and Analysis
11.2.3 Europe Ocean Freight Market Forecasts and Analysis - By Offering
11.2.4 Europe Ocean Freight Market Forecasts and Analysis - By Carrier Type
11.2.5 Europe Ocean Freight Market Forecasts and Analysis - By Freight Type
11.2.6 Europe Ocean Freight Market Forecasts and Analysis - By Industry Vertical
11.2.7 Europe Ocean Freight Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Ocean Freight Market
11.2.7.1.1 Germany Ocean Freight Market by Offering
11.2.7.1.2 Germany Ocean Freight Market by Carrier Type
11.2.7.1.3 Germany Ocean Freight Market by Freight Type
11.2.7.1.4 Germany Ocean Freight Market by Industry Vertical
11.2.7.2 France Ocean Freight Market
11.2.7.2.1 France Ocean Freight Market by Offering
11.2.7.2.2 France Ocean Freight Market by Carrier Type
11.2.7.2.3 France Ocean Freight Market by Freight Type
11.2.7.2.4 France Ocean Freight Market by Industry Vertical
11.2.7.3 Italy Ocean Freight Market
11.2.7.3.1 Italy Ocean Freight Market by Offering
11.2.7.3.2 Italy Ocean Freight Market by Carrier Type
11.2.7.3.3 Italy Ocean Freight Market by Freight Type
11.2.7.3.4 Italy Ocean Freight Market by Industry Vertical
11.2.7.4 United Kingdom Ocean Freight Market
11.2.7.4.1 United Kingdom Ocean Freight Market by Offering
11.2.7.4.2 United Kingdom Ocean Freight Market by Carrier Type
11.2.7.4.3 United Kingdom Ocean Freight Market by Freight Type
11.2.7.4.4 United Kingdom Ocean Freight Market by Industry Vertical
11.2.7.5 Russia Ocean Freight Market
11.2.7.5.1 Russia Ocean Freight Market by Offering
11.2.7.5.2 Russia Ocean Freight Market by Carrier Type
11.2.7.5.3 Russia Ocean Freight Market by Freight Type
11.2.7.5.4 Russia Ocean Freight Market by Industry Vertical
11.2.7.6 Rest of Europe Ocean Freight Market
11.2.7.6.1 Rest of Europe Ocean Freight Market by Offering
11.2.7.6.2 Rest of Europe Ocean Freight Market by Carrier Type
11.2.7.6.3 Rest of Europe Ocean Freight Market by Freight Type
11.2.7.6.4 Rest of Europe Ocean Freight Market by Industry Vertical
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Ocean Freight Market Overview
11.3.2 Asia-Pacific Ocean Freight Market Forecasts and Analysis
11.3.3 Asia-Pacific Ocean Freight Market Forecasts and Analysis - By Offering
11.3.4 Asia-Pacific Ocean Freight Market Forecasts and Analysis - By Carrier Type
11.3.5 Asia-Pacific Ocean Freight Market Forecasts and Analysis - By Freight Type
11.3.6 Asia-Pacific Ocean Freight Market Forecasts and Analysis - By Industry Vertical
11.3.7 Asia-Pacific Ocean Freight Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Ocean Freight Market
11.3.7.1.1 Australia Ocean Freight Market by Offering
11.3.7.1.2 Australia Ocean Freight Market by Carrier Type
11.3.7.1.3 Australia Ocean Freight Market by Freight Type
11.3.7.1.4 Australia Ocean Freight Market by Industry Vertical
11.3.7.2 China Ocean Freight Market
11.3.7.2.1 China Ocean Freight Market by Offering
11.3.7.2.2 China Ocean Freight Market by Carrier Type
11.3.7.2.3 China Ocean Freight Market by Freight Type
11.3.7.2.4 China Ocean Freight Market by Industry Vertical
11.3.7.3 India Ocean Freight Market
11.3.7.3.1 India Ocean Freight Market by Offering
11.3.7.3.2 India Ocean Freight Market by Carrier Type
11.3.7.3.3 India Ocean Freight Market by Freight Type
11.3.7.3.4 India Ocean Freight Market by Industry Vertical
11.3.7.4 Japan Ocean Freight Market
11.3.7.4.1 Japan Ocean Freight Market by Offering
11.3.7.4.2 Japan Ocean Freight Market by Carrier Type
11.3.7.4.3 Japan Ocean Freight Market by Freight Type
11.3.7.4.4 Japan Ocean Freight Market by Industry Vertical
11.3.7.5 South Korea Ocean Freight Market
11.3.7.5.1 South Korea Ocean Freight Market by Offering
11.3.7.5.2 South Korea Ocean Freight Market by Carrier Type
11.3.7.5.3 South Korea Ocean Freight Market by Freight Type
11.3.7.5.4 South Korea Ocean Freight Market by Industry Vertical
11.3.7.6 Rest of Asia-Pacific Ocean Freight Market
11.3.7.6.1 Rest of Asia-Pacific Ocean Freight Market by Offering
11.3.7.6.2 Rest of Asia-Pacific Ocean Freight Market by Carrier Type
11.3.7.6.3 Rest of Asia-Pacific Ocean Freight Market by Freight Type
11.3.7.6.4 Rest of Asia-Pacific Ocean Freight Market by Industry Vertical
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Ocean Freight Market Overview
11.4.2 Middle East and Africa Ocean Freight Market Forecasts and Analysis
11.4.3 Middle East and Africa Ocean Freight Market Forecasts and Analysis - By Offering
11.4.4 Middle East and Africa Ocean Freight Market Forecasts and Analysis - By Carrier Type
11.4.5 Middle East and Africa Ocean Freight Market Forecasts and Analysis - By Freight Type
11.4.6 Middle East and Africa Ocean Freight Market Forecasts and Analysis - By Industry Vertical
11.4.7 Middle East and Africa Ocean Freight Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Ocean Freight Market
11.4.7.1.1 South Africa Ocean Freight Market by Offering
11.4.7.1.2 South Africa Ocean Freight Market by Carrier Type
11.4.7.1.3 South Africa Ocean Freight Market by Freight Type
11.4.7.1.4 South Africa Ocean Freight Market by Industry Vertical
11.4.7.2 Saudi Arabia Ocean Freight Market
11.4.7.2.1 Saudi Arabia Ocean Freight Market by Offering
11.4.7.2.2 Saudi Arabia Ocean Freight Market by Carrier Type
11.4.7.2.3 Saudi Arabia Ocean Freight Market by Freight Type
11.4.7.2.4 Saudi Arabia Ocean Freight Market by Industry Vertical
11.4.7.3 U.A.E Ocean Freight Market
11.4.7.3.1 U.A.E Ocean Freight Market by Offering
11.4.7.3.2 U.A.E Ocean Freight Market by Carrier Type
11.4.7.3.3 U.A.E Ocean Freight Market by Freight Type
11.4.7.3.4 U.A.E Ocean Freight Market by Industry Vertical
11.4.7.4 Rest of Middle East and Africa Ocean Freight Market
11.4.7.4.1 Rest of Middle East and Africa Ocean Freight Market by Offering
11.4.7.4.2 Rest of Middle East and Africa Ocean Freight Market by Carrier Type
11.4.7.4.3 Rest of Middle East and Africa Ocean Freight Market by Freight Type
11.4.7.4.4 Rest of Middle East and Africa Ocean Freight Market by Industry Vertical
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Ocean Freight Market Overview
11.5.2 South and Central America Ocean Freight Market Forecasts and Analysis
11.5.3 South and Central America Ocean Freight Market Forecasts and Analysis - By Offering
11.5.4 South and Central America Ocean Freight Market Forecasts and Analysis - By Carrier Type
11.5.5 South and Central America Ocean Freight Market Forecasts and Analysis - By Freight Type
11.5.6 South and Central America Ocean Freight Market Forecasts and Analysis - By Industry Vertical
11.5.7 South and Central America Ocean Freight Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Ocean Freight Market
11.5.7.1.1 Brazil Ocean Freight Market by Offering
11.5.7.1.2 Brazil Ocean Freight Market by Carrier Type
11.5.7.1.3 Brazil Ocean Freight Market by Freight Type
11.5.7.1.4 Brazil Ocean Freight Market by Industry Vertical
11.5.7.2 Argentina Ocean Freight Market
11.5.7.2.1 Argentina Ocean Freight Market by Offering
11.5.7.2.2 Argentina Ocean Freight Market by Carrier Type
11.5.7.2.3 Argentina Ocean Freight Market by Freight Type
11.5.7.2.4 Argentina Ocean Freight Market by Industry Vertical
11.5.7.3 Rest of South and Central America Ocean Freight Market
11.5.7.3.1 Rest of South and Central America Ocean Freight Market by Offering
11.5.7.3.2 Rest of South and Central America Ocean Freight Market by Carrier Type
11.5.7.3.3 Rest of South and Central America Ocean Freight Market by Freight Type
11.5.7.3.4 Rest of South and Central America Ocean Freight Market by Industry Vertical
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. OCEAN FREIGHT MARKET, KEY COMPANY PROFILES
13.1. A.P. MOLLER MAERSK
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. DB SCHENKER
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. DEUTSCHE POST AG DHL GROUP
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. EXPEDITORS INTERNATIONAL OF WASHINGTON INC.
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. GLOBAL SHIPPING SERVICES LLC
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. KUEHNE NAGEL
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. KVAVER LTD.
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. NIPPON EXPRESS
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. PANALPINA WORLD TRANSPORT HOLDING LTD.
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. UNITED PARCEL SERVICE OF AMERICA INC.
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
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. A.P. Moller Maersk
2. DB Schenker
3. Deutsche Post AG DHL Group
4. Expeditors International of Washington Inc.
5. Global Shipping Services LLC
6. KUEHNE NAGEL
7. Kvaver LTD.
8. Nippon Express
9. Panalpina World Transport Holding Ltd.
10. United Parcel Service of America 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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