Patient Monitoring Device Market Dynamics and Analysis by 2031
The Patient Monitoring Device Market is expected to register a CAGR of 7.4% 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 Product (Cardiac Monitoring Devices, Neuromonitoring Devices, Respiratory Monitoring Devices, Anasthesia Monitor, Hemodynamic Monitoring Devices, Fetal and Neonatal Monitoring, Multiparameter Devices); Type (Conventional, Wireless); End-user (Hospitals, Ambulatory Surgical Centers (ASCs), Homecare Settings). 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 Patient Monitoring Device 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.
Patient Monitoring Device Market Segmentation
Product- Cardiac Monitoring Devices
- Neuromonitoring Devices
- Respiratory Monitoring Devices
- Anasthesia Monitor
- Hemodynamic Monitoring Devices
- Fetal and Neonatal Monitoring
- Multiparameter Devices
- Conventional
- Wireless
- Hospitals
- Ambulatory Surgical Centers
- Homecare Settings
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Patient Monitoring Device Market Growth Drivers- Rising Chronic Diseases and Aging Population: The growing prevalence of diabetes, respiratory diseases, cardiovascular diseases and other chronic illnesses across the globe is alarming; also with rise in the age distribution and thus an increased population, the need for patient monitoring devices has gone up. This management devices enable the management of health conditions on a continuous basis hence their important role in the health care systems among other factors driving the sharp increase of the sector.
- Technological Advancements and Remote Monitoring: The development of patient monitoring devices has been aided by the resolution of issues over the size and ease of use as well as offering a wireless means of communication. The devices are being utilized more and more due to remote patient monitoring especially using smartphones and other telemedicine systems. This is more notable when designing intervention strategies aimed at the long-term management of the conditions and advance care of the patients as such creates a huge market potential.
- Increase in Healthcare Expenditure and Infrastructure: Considering the fact that global health expenditure is on an upward trend especially in the developing regions, there is a corresponding increase in the purchase of sophisticated medical equipment such as patient monitoring systems. Several hospitals and health care centers are upgrading their current structures with the aim of enhancing the health outcomes of the patients creating an upsurge in the market for devices which monitor patients in real time. This is rather evident in the western world, especially in the developed countries, where the healthcare systems are emphasizing more on the quality and efficiency of services provided.
- Integration of AI and Machine Learning: There has been an upswing in the usage of artificial intelligence and machine learning in patient monitoring systems. This is because such systems enable real time data manipulation, prediction and patient specific care - which is transcends to the various staffs and level of the institution. Anomaly detection, risk prediction, and improving evidence based practice are some of the features that seek to improve the patient care process by ensuring up to date and precise measures are taken whenever necessary.
- Wearable and Continuous Monitoring Solutions: Given the advancements in technology, fitness-based smartwatches and their accessories have accepted the status of medical devices that can be used to track a patient’s health condition. Even the devices that screen body processes deliver the information instantaneously to the user, and to the user’s clinicians. This is another developing practice in health care especially for patients with chronic diseases who are treated outside the hospital.
- Remote Patient Monitoring (RPM) and Telemedicine: As the patient monitoring devices market develops, remote patient monitoring (RPM) and telemedicine adoption emerges as a significant trend. Due to the surge in need for healthcare services rendered at home and limited trips to hospital facilities, RPM enables patients’ health to be monitored at a distance on a constant basis. This trend has gained momentum owing to the current advancements in telehealth, which have enhanced the availability of the services and lowered their cost.
- Expansion in Home Healthcare: The increasing demand for homecare services and patient monitoring systems that comes out on top. These Trends allow healthcare providers to not only contact all the patients but also to, if necessary, take action beforehand, which in turn further drives the rate of growth of the homecare solutions market. Besides, many devices are also there that help the patient self manage and transmit various physical measurements like systolic and diastolic blood pressures, blood glucose levels, etc.
- Growing Demand in Emerging Markets: In these growing economies, due to adequate investment into health facilities, there is very high demand particularly for patient monitoring systems. This is because these regions are improving their healthcare systems owing to increased population and prevalence of chronic diseases. This demand can be met by offering affordable and still y attached high capacity monitoring solutions that are suitable for such areas making good business sense.
- Integration with IoT and Smart Hospitals: The convergence of patient monitoring systems with the Internet of Things (IoT) and smart hospitals presents an exciting opportunity. These devices could easily be integrated to the hospital management systems allowing information exchange in real-time, enhanced patient care management as well as efficient utilization of the resources. Because hospitals that adopt smart technologies are able to enhance both patient outcomes and operational efficiency, there is increased need for such integrated systems for monitoring.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Patient Monitoring Device 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 Patient Monitoring Device 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
This text is related
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
The final report will duly include market size and projection estimates for all the segments from 2021 to 2031, along with a revenue share and compound annual growth rate (%) for the regional/country-wise market wherein 2021-2022 are the historic years, 2023 is considered to be the base year, and the forecast will be provided till 2031, along with CAGR (%)
The market is expected to grow at a CAGR of 7.4%
The North America region accounts for highest revenue share patient monitoring device market
Asia Pacific is estimated to grow at the highest CAGR over the forecast year (2023 - 2031)
Abbott, Hill-Rom Services, Inc, Drägerwerk AG and Co. KGaA, Edwards Lifesciences Corporation, OMRON Corporation, Masimo, Shenzhen Mindray Bio-Medical Electronics Co., Ltd, NIHON KOHDEN CORPORATION, Koninklijke Philips N.V, Medtronic are the some of the key market players operating in the patient monitoring device market
Rising chronic diseases and aging population and technological advancements and remote monitoring are the major factors boosting the patient monitoring device market growth
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Patient Monitoring Device Market - By Product
1.3.2 Patient Monitoring Device Market - By Type
1.3.3 Patient Monitoring Device Market - By End-user
1.3.4 Patient Monitoring Device Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PATIENT MONITORING DEVICE 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. PATIENT MONITORING DEVICE 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. PATIENT MONITORING DEVICE MARKET - GLOBAL MARKET ANALYSIS
6.1. PATIENT MONITORING DEVICE - GLOBAL MARKET OVERVIEW
6.2. PATIENT MONITORING DEVICE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PATIENT MONITORING DEVICE MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. CARDIAC MONITORING DEVICES
7.3.1. Overview
7.3.2. Cardiac Monitoring Devices Market Forecast and Analysis
7.3.3. ECG Devices Market
7.3.3.1. Overview
7.3.3.2. ECG Devices Market Forecast and Analysis
7.3.4. Implantable Loop Recorders Market
7.3.4.1. Overview
7.3.4.2. Implantable Loop Recorders Market Forecast and Analysis
7.3.5. Mobile Cardiac Telemetry Monitors Market
7.3.5.1. Overview
7.3.5.2. Mobile Cardiac Telemetry Monitors Market Forecast and Analysis
7.3.6. Smart Wearable ECG Patches Market
7.3.6.1. Overview
7.3.6.2. Smart Wearable ECG Patches Market Forecast and Analysis
7.4. NEUROMONITORING DEVICES
7.4.1. Overview
7.4.2. Neuromonitoring Devices Market Forecast and Analysis
7.4.3. EEG Devices Market
7.4.3.1. Overview
7.4.3.2. EEG Devices Market Forecast and Analysis
7.4.4. Cerebral Oximeters Market
7.4.4.1. Overview
7.4.4.2. Cerebral Oximeters Market Forecast and Analysis
7.4.5. Intracranial Pressure Monitors Market
7.4.5.1. Overview
7.4.5.2. Intracranial Pressure Monitors Market Forecast and Analysis
7.4.6. EMG Devices Market
7.4.6.1. Overview
7.4.6.2. EMG Devices Market Forecast and Analysis
7.5. RESPIRATORY MONITORING DEVICES
7.5.1. Overview
7.5.2. Respiratory Monitoring Devices Market Forecast and Analysis
7.5.3. Pulse Oximeters Market
7.5.3.1. Overview
7.5.3.2. Pulse Oximeters Market Forecast and Analysis
7.5.4. Spirometers Market
7.5.4.1. Overview
7.5.4.2. Spirometers Market Forecast and Analysis
7.5.5. Capnographs Market
7.5.5.1. Overview
7.5.5.2. Capnographs Market Forecast and Analysis
7.5.6. Peak Flow Meters Market
7.5.6.1. Overview
7.5.6.2. Peak Flow Meters Market Forecast and Analysis
7.6. ANASTHESIA MONITOR
7.6.1. Overview
7.6.2. Anasthesia Monitor Market Forecast and Analysis
7.7. HEMODYNAMIC MONITORING DEVICES
7.7.1. Overview
7.7.2. Hemodynamic Monitoring Devices Market Forecast and Analysis
7.8. FETAL AND NEONATAL MONITORING
7.8.1. Overview
7.8.2. Fetal and Neonatal Monitoring Market Forecast and Analysis
7.9. MULTIPARAMETER DEVICES
7.9.1. Overview
7.9.2. Multiparameter Devices Market Forecast and Analysis
8. PATIENT MONITORING DEVICE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
8.1. OVERVIEW
8.2. TYPE MARKET FORECASTS AND ANALYSIS
8.3. CONVENTIONAL
8.3.1. Overview
8.3.2. Conventional Market Forecast and Analysis
8.4. WIRELESS
8.4.1. Overview
8.4.2. Wireless Market Forecast and Analysis
9. PATIENT MONITORING DEVICE 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 (ASCS)
9.4.1. Overview
9.4.2. Ambulatory Surgical Centers (ASCs) Market Forecast and Analysis
9.5. HOMECARE SETTINGS
9.5.1. Overview
9.5.2. Homecare Settings Market Forecast and Analysis
10. PATIENT MONITORING DEVICE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Patient Monitoring Device Market Overview
10.1.2 North America Patient Monitoring Device Market Forecasts and Analysis
10.1.3 North America Patient Monitoring Device Market Forecasts and Analysis - By Product
10.1.4 North America Patient Monitoring Device Market Forecasts and Analysis - By Type
10.1.5 North America Patient Monitoring Device Market Forecasts and Analysis - By End-user
10.1.6 North America Patient Monitoring Device Market Forecasts and Analysis - By Countries
10.1.6.1 United States Patient Monitoring Device Market
10.1.6.1.1 United States Patient Monitoring Device Market by Product
10.1.6.1.2 United States Patient Monitoring Device Market by Type
10.1.6.1.3 United States Patient Monitoring Device Market by End-user
10.1.6.2 Canada Patient Monitoring Device Market
10.1.6.2.1 Canada Patient Monitoring Device Market by Product
10.1.6.2.2 Canada Patient Monitoring Device Market by Type
10.1.6.2.3 Canada Patient Monitoring Device Market by End-user
10.1.6.3 Mexico Patient Monitoring Device Market
10.1.6.3.1 Mexico Patient Monitoring Device Market by Product
10.1.6.3.2 Mexico Patient Monitoring Device Market by Type
10.1.6.3.3 Mexico Patient Monitoring Device Market by End-user
10.2. EUROPE
10.2.1 Europe Patient Monitoring Device Market Overview
10.2.2 Europe Patient Monitoring Device Market Forecasts and Analysis
10.2.3 Europe Patient Monitoring Device Market Forecasts and Analysis - By Product
10.2.4 Europe Patient Monitoring Device Market Forecasts and Analysis - By Type
10.2.5 Europe Patient Monitoring Device Market Forecasts and Analysis - By End-user
10.2.6 Europe Patient Monitoring Device Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Patient Monitoring Device Market
10.2.6.1.1 Germany Patient Monitoring Device Market by Product
10.2.6.1.2 Germany Patient Monitoring Device Market by Type
10.2.6.1.3 Germany Patient Monitoring Device Market by End-user
10.2.6.2 France Patient Monitoring Device Market
10.2.6.2.1 France Patient Monitoring Device Market by Product
10.2.6.2.2 France Patient Monitoring Device Market by Type
10.2.6.2.3 France Patient Monitoring Device Market by End-user
10.2.6.3 Italy Patient Monitoring Device Market
10.2.6.3.1 Italy Patient Monitoring Device Market by Product
10.2.6.3.2 Italy Patient Monitoring Device Market by Type
10.2.6.3.3 Italy Patient Monitoring Device Market by End-user
10.2.6.4 Spain Patient Monitoring Device Market
10.2.6.4.1 Spain Patient Monitoring Device Market by Product
10.2.6.4.2 Spain Patient Monitoring Device Market by Type
10.2.6.4.3 Spain Patient Monitoring Device Market by End-user
10.2.6.5 United Kingdom Patient Monitoring Device Market
10.2.6.5.1 United Kingdom Patient Monitoring Device Market by Product
10.2.6.5.2 United Kingdom Patient Monitoring Device Market by Type
10.2.6.5.3 United Kingdom Patient Monitoring Device Market by End-user
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Patient Monitoring Device Market Overview
10.3.2 Asia-Pacific Patient Monitoring Device Market Forecasts and Analysis
10.3.3 Asia-Pacific Patient Monitoring Device Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Patient Monitoring Device Market Forecasts and Analysis - By Type
10.3.5 Asia-Pacific Patient Monitoring Device Market Forecasts and Analysis - By End-user
10.3.6 Asia-Pacific Patient Monitoring Device Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Patient Monitoring Device Market
10.3.6.1.1 Australia Patient Monitoring Device Market by Product
10.3.6.1.2 Australia Patient Monitoring Device Market by Type
10.3.6.1.3 Australia Patient Monitoring Device Market by End-user
10.3.6.2 China Patient Monitoring Device Market
10.3.6.2.1 China Patient Monitoring Device Market by Product
10.3.6.2.2 China Patient Monitoring Device Market by Type
10.3.6.2.3 China Patient Monitoring Device Market by End-user
10.3.6.3 India Patient Monitoring Device Market
10.3.6.3.1 India Patient Monitoring Device Market by Product
10.3.6.3.2 India Patient Monitoring Device Market by Type
10.3.6.3.3 India Patient Monitoring Device Market by End-user
10.3.6.4 Japan Patient Monitoring Device Market
10.3.6.4.1 Japan Patient Monitoring Device Market by Product
10.3.6.4.2 Japan Patient Monitoring Device Market by Type
10.3.6.4.3 Japan Patient Monitoring Device Market by End-user
10.3.6.5 South Korea Patient Monitoring Device Market
10.3.6.5.1 South Korea Patient Monitoring Device Market by Product
10.3.6.5.2 South Korea Patient Monitoring Device Market by Type
10.3.6.5.3 South Korea Patient Monitoring Device Market by End-user
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Patient Monitoring Device Market Overview
10.4.2 Middle East and Africa Patient Monitoring Device Market Forecasts and Analysis
10.4.3 Middle East and Africa Patient Monitoring Device Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Patient Monitoring Device Market Forecasts and Analysis - By Type
10.4.5 Middle East and Africa Patient Monitoring Device Market Forecasts and Analysis - By End-user
10.4.6 Middle East and Africa Patient Monitoring Device Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Patient Monitoring Device Market
10.4.6.1.1 South Africa Patient Monitoring Device Market by Product
10.4.6.1.2 South Africa Patient Monitoring Device Market by Type
10.4.6.1.3 South Africa Patient Monitoring Device Market by End-user
10.4.6.2 Saudi Arabia Patient Monitoring Device Market
10.4.6.2.1 Saudi Arabia Patient Monitoring Device Market by Product
10.4.6.2.2 Saudi Arabia Patient Monitoring Device Market by Type
10.4.6.2.3 Saudi Arabia Patient Monitoring Device Market by End-user
10.4.6.3 U.A.E Patient Monitoring Device Market
10.4.6.3.1 U.A.E Patient Monitoring Device Market by Product
10.4.6.3.2 U.A.E Patient Monitoring Device Market by Type
10.4.6.3.3 U.A.E Patient Monitoring Device Market by End-user
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Patient Monitoring Device Market Overview
10.5.2 South and Central America Patient Monitoring Device Market Forecasts and Analysis
10.5.3 South and Central America Patient Monitoring Device Market Forecasts and Analysis - By Product
10.5.4 South and Central America Patient Monitoring Device Market Forecasts and Analysis - By Type
10.5.5 South and Central America Patient Monitoring Device Market Forecasts and Analysis - By End-user
10.5.6 South and Central America Patient Monitoring Device Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Patient Monitoring Device Market
10.5.6.1.1 Brazil Patient Monitoring Device Market by Product
10.5.6.1.2 Brazil Patient Monitoring Device Market by Type
10.5.6.1.3 Brazil Patient Monitoring Device Market by End-user
10.5.6.2 Argentina Patient Monitoring Device Market
10.5.6.2.1 Argentina Patient Monitoring Device Market by Product
10.5.6.2.2 Argentina Patient Monitoring Device Market by Type
10.5.6.2.3 Argentina Patient Monitoring Device Market by End-user
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL PATIENT MONITORING DEVICE 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. PATIENT MONITORING DEVICE MARKET, KEY COMPANY PROFILES
13.1. ABBOTT
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. HILL-ROM SERVICES, INC.
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. DRäGERWERK AG AND CO. KGAA
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. EDWARDS LIFESCIENCES CORPORATION
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. OMRON CORPORATION
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. MASIMO
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. SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO., 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. NIHON KOHDEN CORPORATION
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. MEDTRONIC
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. KONINKLIJKE PHILIPS N.V.
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. Abbott
2. Hill-Rom Services, Inc.
3. Drägerwerk AG and Co. KGaA
4. Edwards Lifesciences Corporation
5. OMRON Corporation
6. Masimo
7. Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
8. NIHON KOHDEN CORPORATION
9. Koninklijke Philips N.V.
10. Medtronic
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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