Optical Coating Market Key Findings by 2031
The optical coatings market is expected to grow from US$ 13.38 billion in 2022 to US$ 22.40 billion by 2031, with an estimated CAGR of 9.0% from 2022 to 2031.
An optical coating is made of a combination of thin film layers that create interference effects to enhance transmission or reflection properties within an optical system. An optical coating is composed of a blend of thin layers of materials such as metals, rare earth materials, or oxides. The performance of an optical coating is dependent upon the number of layers, the thickness of the individual layers, and the refractive index difference at the layer interfaces. They are integral in almost every optical instrument, from eyeglasses and telescopes to simple or complex mirrors.
MARKET DYNAMICS
Optical coatings are used in many electronic applications where light must travel through optical surfaces. Optical antireflective coatings are used on tablet and cell phone screens for various purposes, including making text easier to read in daylight. These coatings are used on the semiconductor diode lasers' facets. Since the Internet of Things (IoT) is becoming more prevalent across a wide range of industries, the demand for semiconductors has proliferated in recent years. These factors are propelling the growth of the optical coatings market.
MARKET SCOPE
The "Global Optical Coatings Market Analysis to 2031" is a specialized and in-depth study of the optical coatings market with a special focus on the global market trend analysis. The report aims to provide an overview of the optical coatings market with detailed market segmentation. It provides key statistics on the status of leading market players and offers major trends and opportunities in the market.
Strategic Insights
MARKET SEGMENTATION
The global optical coatings market is categorized into type, technology, and end-use industry. Based on type, the market is segmented into antireflection, high reflection, transparent conductive, filter, beamsplitter, electrochromic, and others. In terms of technology, the market is segmented into vacuum deposition technology, e-beam evaporation technology, sputtering technology, and others. Based on end-use industry, the market is segmented into electronics & semiconductor, military & defense, automotive, solar power, medical, consumer goods, and others.
The global optical coatings market is segmented into five major regions North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The report covers an analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in these regions.
Asia Pacific dominated the optical coatings market in 2021. The regional market growth is mainly boosted by the rise in demand from electronics & semiconductors, solar energy, and defense sectors. Many Asian countries have started initiatives to promote the growth of the semiconductor & electronics industry. For instance, the Make in India initiative is being promoted by India for automotive, semiconductor, and aerospace products. This initiative will benefit the country's ability to produce automobile glass sheets, solar panels, optoelectronic components, and other electronic devices. Thus, such initiatives of the government of countries in the Asia Pacific region led to the development of the electronics & semiconductors manufacturing industry, leading to dominance in the optical coatings market.
The report analyzes the factors, such as drivers, restraints, opportunities, and future trends, that impact the optical coatings market. It also provides an exhaustive Porter's five forces analysis, highlighting the factors influencing the market in these regions.
IMPACT OF COVID-19 PANDEMIC
The COVID-19 pandemic severely affected many industries. The imposition of the lockdown temporarily discontinued various manufacturing activities, resulting in a decrease in supply, which substantially impacted the optical coatings market. Transportation, manufacturing, oil & gas, automobiles, and energy industries saw a prolonged shutdown, causing a dramatic decline in the global demand for optical coatings. The electronics & semiconductor industry is among the drastically affected industries due to its reliance on the severely hit China and other Asian countries. Segments in this industry, such as consumer electronics, consumer goods, and automotive, were at high risk. In contrast, other segments, including cloud-computing data centers, communication & connectivity technology, and healthcare, remained unaffected. However, during the pandemic, the demand for medical devices increased, which boosted the need for optical coatings.
Furthermore, the economies started reviving their operations in 2021. The growing adoption of 5G technology is increasing the demand for electronic devices such as 5G modems, 5G routers, MIMO antenna, 5G New Radio (5GNR), C-RAN units, multichannel highly integrated RF transceivers, and voltage-controlled crystal oscillators (VCXOs). Moreover, the requirement for enhanced memory and storage is expected to increase demand for microchips. That opens up an unprecedented opportunity for semiconductor businesses. Thus, the increased demand from the electronics & semiconductor industry is expected to boost the growth of the optical coatings market. Additionally, the increasing production of automobiles, solar power, medical, and consumer goods industries in Europe, the US, and Asia Pacific is expected to create opportunities for optical coatings.
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The global optical coatings market is segmented into five major regions North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The report covers an analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in these regions.
Asia Pacific dominated the optical coatings market in 2021. The regional market growth is mainly boosted by the rise in demand from electronics & semiconductors, solar energy, and defense sectors. Many Asian countries have started initiatives to promote the growth of the semiconductor & electronics industry. For instance, the Make in India initiative is being promoted by India for automotive, semiconductor, and aerospace products. This initiative will benefit the country's ability to produce automobile glass sheets, solar panels, optoelectronic components, and other electronic devices. Thus, such initiatives of the government of countries in the Asia Pacific region led to the development of the electronics & semiconductors manufacturing industry, leading to dominance in the optical coatings market.
The report analyzes the factors, such as drivers, restraints, opportunities, and future trends, that impact the optical coatings market. It also provides an exhaustive Porter's five forces analysis, highlighting the factors influencing the market in these regions.
IMPACT OF COVID-19 PANDEMIC
The COVID-19 pandemic severely affected many industries. The imposition of the lockdown temporarily discontinued various manufacturing activities, resulting in a decrease in supply, which substantially impacted the optical coatings market. Transportation, manufacturing, oil & gas, automobiles, and energy industries saw a prolonged shutdown, causing a dramatic decline in the global demand for optical coatings. The electronics & semiconductor industry is among the drastically affected industries due to its reliance on the severely hit China and other Asian countries. Segments in this industry, such as consumer electronics, consumer goods, and automotive, were at high risk. In contrast, other segments, including cloud-computing data centers, communication & connectivity technology, and healthcare, remained unaffected. However, during the pandemic, the demand for medical devices increased, which boosted the need for optical coatings.
Furthermore, the economies started reviving their operations in 2021. The growing adoption of 5G technology is increasing the demand for electronic devices such as 5G modems, 5G routers, MIMO antenna, 5G New Radio (5GNR), C-RAN units, multichannel highly integrated RF transceivers, and voltage-controlled crystal oscillators (VCXOs). Moreover, the requirement for enhanced memory and storage is expected to increase demand for microchips. That opens up an unprecedented opportunity for semiconductor businesses. Thus, the increased demand from the electronics & semiconductor industry is expected to boost the growth of the optical coatings market. Additionally, the increasing production of automobiles, solar power, medical, and consumer goods industries in Europe, the US, and Asia Pacific is expected to create opportunities for optical coatings.
MARKET PLAYERS
The reports cover key developments in organic and inorganic growth strategies in the optical coatings market. Various companies are focusing on organic growth strategies such as product launches, product approvals, patents, and events. Inorganic growth strategy activities witnessed in the market were acquisitions, partnerships, and collaborations. These activities have paved the way for business expansion and the customer base of market players. Market players are anticipated to have lucrative growth opportunities in the coming years due to the rising demand for optical coatings.
The report includes key company profiles operating in the optical coatings market, along with their SWOT analysis and market strategies. It also focuses on leading industry players with information, such as company profiles, components and services offered, financial information of the last three years, and key development in the past five years.
Key Companies Operating in Optical Coatings Market
- DuPont de Nemours, Inc.
- PPG Industries, Inc.
- Nippon Electric Glass Co., Ltd.
- Reynard Corporation
- Abrisa Technologies
- Alluxa, Inc
- Artemis Optical Ltd.
- Cascade Optical Corporation
- Chroma Technology Corp.
- Coherent Corp.
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Technology, End-Use Industry, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Optical Coating Market - By Type
1.3.2 Optical Coating Market - By Technology
1.3.3 Optical Coating Market - By End-Use Industry
1.3.4 Optical Coating Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. OPTICAL COATING 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. OPTICAL COATING 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. OPTICAL COATING MARKET - GLOBAL MARKET ANALYSIS
6.1. OPTICAL COATING - GLOBAL MARKET OVERVIEW
6.2. OPTICAL COATING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. OPTICAL COATING MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. ANTI-REFLECTION
7.3.1. Overview
7.3.2. Anti-reflection Market Forecast and Analysis
7.4. HIGH REFLECTION
7.4.1. Overview
7.4.2. High Reflection Market Forecast and Analysis
7.5. TRANSPARENT CONDUCTIVE
7.5.1. Overview
7.5.2. Transparent Conductive Market Forecast and Analysis
7.6. FILTER
7.6.1. Overview
7.6.2. Filter Market Forecast and Analysis
7.7. BEAMSPLITTER
7.7.1. Overview
7.7.2. Beamsplitter Market Forecast and Analysis
7.8. ELECTROCHROMIC
7.8.1. Overview
7.8.2. Electrochromic Market Forecast and Analysis
7.9. PARTIAL REFLECTION COATINGS
7.9.1. Overview
7.9.2. Partial Reflection Coatings Market Forecast and Analysis
8. OPTICAL COATING MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. VACUUM DEPOSITION TECHNOLOGY
8.3.1. Overview
8.3.2. Vacuum Deposition Technology Market Forecast and Analysis
8.4. E-BEAM EVAPORATION TECHNOLOGY
8.4.1. Overview
8.4.2. E-Beam Evaporation Technology Market Forecast and Analysis
8.5. SPUTTERING TECHNOLOGY
8.5.1. Overview
8.5.2. Sputtering Technology Market Forecast and Analysis
8.6. ION-ASSISTED DEPOSITION (IAD) TECHNOLOGY
8.6.1. Overview
8.6.2. Ion-Assisted Deposition (IAD) Technology Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. OPTICAL COATING MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
9.1. OVERVIEW
9.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. ELECTRONICS & SEMICONDUCTOR
9.3.1. Overview
9.3.2. Electronics & Semiconductor Market Forecast and Analysis
9.4. MILITARY & DEFENSE
9.4.1. Overview
9.4.2. Military & Defense Market Forecast and Analysis
9.5. AUTOMOTIVE
9.5.1. Overview
9.5.2. Automotive Market Forecast and Analysis
9.6. CONSTRUCTION
9.6.1. Overview
9.6.2. Construction Market Forecast and Analysis
9.7. SOLAR
9.7.1. Overview
9.7.2. Solar Market Forecast and Analysis
9.8. MEDICAL
9.8.1. Overview
9.8.2. Medical Market Forecast and Analysis
9.9. OTHERS
9.9.1. Overview
9.9.2. Others Market Forecast and Analysis
10. OPTICAL COATING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Optical Coating Market Overview
10.1.2 North America Optical Coating Market Forecasts and Analysis
10.1.3 North America Optical Coating Market Forecasts and Analysis - By Type
10.1.4 North America Optical Coating Market Forecasts and Analysis - By Technology
10.1.5 North America Optical Coating Market Forecasts and Analysis - By End-Use Industry
10.1.6 North America Optical Coating Market Forecasts and Analysis - By Countries
10.1.6.1 United States Optical Coating Market
10.1.6.1.1 United States Optical Coating Market by Type
10.1.6.1.2 United States Optical Coating Market by Technology
10.1.6.1.3 United States Optical Coating Market by End-Use Industry
10.1.6.2 Canada Optical Coating Market
10.1.6.2.1 Canada Optical Coating Market by Type
10.1.6.2.2 Canada Optical Coating Market by Technology
10.1.6.2.3 Canada Optical Coating Market by End-Use Industry
10.1.6.3 Mexico Optical Coating Market
10.1.6.3.1 Mexico Optical Coating Market by Type
10.1.6.3.2 Mexico Optical Coating Market by Technology
10.1.6.3.3 Mexico Optical Coating Market by End-Use Industry
10.2. EUROPE
10.2.1 Europe Optical Coating Market Overview
10.2.2 Europe Optical Coating Market Forecasts and Analysis
10.2.3 Europe Optical Coating Market Forecasts and Analysis - By Type
10.2.4 Europe Optical Coating Market Forecasts and Analysis - By Technology
10.2.5 Europe Optical Coating Market Forecasts and Analysis - By End-Use Industry
10.2.6 Europe Optical Coating Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Optical Coating Market
10.2.6.1.1 Germany Optical Coating Market by Type
10.2.6.1.2 Germany Optical Coating Market by Technology
10.2.6.1.3 Germany Optical Coating Market by End-Use Industry
10.2.6.2 France Optical Coating Market
10.2.6.2.1 France Optical Coating Market by Type
10.2.6.2.2 France Optical Coating Market by Technology
10.2.6.2.3 France Optical Coating Market by End-Use Industry
10.2.6.3 Italy Optical Coating Market
10.2.6.3.1 Italy Optical Coating Market by Type
10.2.6.3.2 Italy Optical Coating Market by Technology
10.2.6.3.3 Italy Optical Coating Market by End-Use Industry
10.2.6.4 United Kingdom Optical Coating Market
10.2.6.4.1 United Kingdom Optical Coating Market by Type
10.2.6.4.2 United Kingdom Optical Coating Market by Technology
10.2.6.4.3 United Kingdom Optical Coating Market by End-Use Industry
10.2.6.5 Russia Optical Coating Market
10.2.6.5.1 Russia Optical Coating Market by Type
10.2.6.5.2 Russia Optical Coating Market by Technology
10.2.6.5.3 Russia Optical Coating Market by End-Use Industry
10.2.6.6 Rest of Europe Optical Coating Market
10.2.6.6.1 Rest of Europe Optical Coating Market by Type
10.2.6.6.2 Rest of Europe Optical Coating Market by Technology
10.2.6.6.3 Rest of Europe Optical Coating Market by End-Use Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Optical Coating Market Overview
10.3.2 Asia-Pacific Optical Coating Market Forecasts and Analysis
10.3.3 Asia-Pacific Optical Coating Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Optical Coating Market Forecasts and Analysis - By Technology
10.3.5 Asia-Pacific Optical Coating Market Forecasts and Analysis - By End-Use Industry
10.3.6 Asia-Pacific Optical Coating Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Optical Coating Market
10.3.6.1.1 Australia Optical Coating Market by Type
10.3.6.1.2 Australia Optical Coating Market by Technology
10.3.6.1.3 Australia Optical Coating Market by End-Use Industry
10.3.6.2 China Optical Coating Market
10.3.6.2.1 China Optical Coating Market by Type
10.3.6.2.2 China Optical Coating Market by Technology
10.3.6.2.3 China Optical Coating Market by End-Use Industry
10.3.6.3 India Optical Coating Market
10.3.6.3.1 India Optical Coating Market by Type
10.3.6.3.2 India Optical Coating Market by Technology
10.3.6.3.3 India Optical Coating Market by End-Use Industry
10.3.6.4 Japan Optical Coating Market
10.3.6.4.1 Japan Optical Coating Market by Type
10.3.6.4.2 Japan Optical Coating Market by Technology
10.3.6.4.3 Japan Optical Coating Market by End-Use Industry
10.3.6.5 South Korea Optical Coating Market
10.3.6.5.1 South Korea Optical Coating Market by Type
10.3.6.5.2 South Korea Optical Coating Market by Technology
10.3.6.5.3 South Korea Optical Coating Market by End-Use Industry
10.3.6.6 Rest of Asia-Pacific Optical Coating Market
10.3.6.6.1 Rest of Asia-Pacific Optical Coating Market by Type
10.3.6.6.2 Rest of Asia-Pacific Optical Coating Market by Technology
10.3.6.6.3 Rest of Asia-Pacific Optical Coating Market by End-Use Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Optical Coating Market Overview
10.4.2 Middle East and Africa Optical Coating Market Forecasts and Analysis
10.4.3 Middle East and Africa Optical Coating Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Optical Coating Market Forecasts and Analysis - By Technology
10.4.5 Middle East and Africa Optical Coating Market Forecasts and Analysis - By End-Use Industry
10.4.6 Middle East and Africa Optical Coating Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Optical Coating Market
10.4.6.1.1 South Africa Optical Coating Market by Type
10.4.6.1.2 South Africa Optical Coating Market by Technology
10.4.6.1.3 South Africa Optical Coating Market by End-Use Industry
10.4.6.2 Saudi Arabia Optical Coating Market
10.4.6.2.1 Saudi Arabia Optical Coating Market by Type
10.4.6.2.2 Saudi Arabia Optical Coating Market by Technology
10.4.6.2.3 Saudi Arabia Optical Coating Market by End-Use Industry
10.4.6.3 U.A.E Optical Coating Market
10.4.6.3.1 U.A.E Optical Coating Market by Type
10.4.6.3.2 U.A.E Optical Coating Market by Technology
10.4.6.3.3 U.A.E Optical Coating Market by End-Use Industry
10.4.6.4 Rest of Middle East and Africa Optical Coating Market
10.4.6.4.1 Rest of Middle East and Africa Optical Coating Market by Type
10.4.6.4.2 Rest of Middle East and Africa Optical Coating Market by Technology
10.4.6.4.3 Rest of Middle East and Africa Optical Coating Market by End-Use Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Optical Coating Market Overview
10.5.2 South and Central America Optical Coating Market Forecasts and Analysis
10.5.3 South and Central America Optical Coating Market Forecasts and Analysis - By Type
10.5.4 South and Central America Optical Coating Market Forecasts and Analysis - By Technology
10.5.5 South and Central America Optical Coating Market Forecasts and Analysis - By End-Use Industry
10.5.6 South and Central America Optical Coating Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Optical Coating Market
10.5.6.1.1 Brazil Optical Coating Market by Type
10.5.6.1.2 Brazil Optical Coating Market by Technology
10.5.6.1.3 Brazil Optical Coating Market by End-Use Industry
10.5.6.2 Argentina Optical Coating Market
10.5.6.2.1 Argentina Optical Coating Market by Type
10.5.6.2.2 Argentina Optical Coating Market by Technology
10.5.6.2.3 Argentina Optical Coating Market by End-Use Industry
10.5.6.3 Rest of South and Central America Optical Coating Market
10.5.6.3.1 Rest of South and Central America Optical Coating Market by Type
10.5.6.3.2 Rest of South and Central America Optical Coating Market by Technology
10.5.6.3.3 Rest of South and Central America Optical Coating Market by End-Use 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. OPTICAL COATING MARKET, KEY COMPANY PROFILES
12.1. ABRISA TECHNOLOGIES
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. ALLUXA
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. ARTEMIS OPTICAL LTD
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. CASCADE OPTICAL CORPORATION
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. CHROMA TECHNOLOGY CORPORATION
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. II-VI OPTICAL SYSTEMS
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. INRAD OPTICS
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. REYNARD CORPORATION
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. SCHOTT AG
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. VIAVI SOLUTIONS 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
The List of Companies
1. Abrisa Technologies
2. Alluxa
3. Artemis Optical Ltd.
4. Cascade Optical Corporation
5. Chroma Technology Corporation
6. II-VI Optical Systems
7. Inrad Optics
8. Reynard Corporation
9. SCHOTT AG
10. VIAVI Solutions 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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