Physical Security Information Management (PSIM) Market 2031
The Physical Security Information Management (PSIM) Market is expected to register a CAGR of 21.2% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Physical Security Information Management (PSIM) Market report covers analysis based on Product Type. The market is bifurcated into Services and Software by product type. The report also offers analysis by Application (IT Security, Automatic Identification Systems, Cloud Computing, Data Centers, and Others). The global analysis is further broken-down at the regional level and major countries.
Purpose of the ReportThe report Physical Security Information Management (PSIM) 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.
Physical Security Information Management (PSIM) Market Segmentation
Product Type- Services
- Software
- IT Security
- Automatic Identification system
- Cloud Computing
- Data Center
- Others
Strategic Insights
Physical Security Information Management (PSIM) Market Growth Drivers- Global Security Solutions Needed: There exists be it terrorism, vandalism, or cyber-attacks, forcing the need for more advanced security solutions worldwide. Organizations need to safeguard their resources and their intellectual property. More security systems are being installed, such as cameras, access control, and other devices.
- Demand for Greater Situational Awareness: Enterprises in a complex security environment demand greater situational awareness from their security systems for a more proactive, efficient management of security incidents. PSIM solutions help by converging security data from multiple siloed standalone systems into a unified global view of security operations.
- Integrated Security Systems Growth: They have also been pressuring organizations to adopt integrated security solutions that offer smooth coordination between different security systems, and this is also benefiting the security information management (SIM) sector. PSIM allows organizations to integrate different security technologies such as video surveillance, access control, IP-based alarm systems, cell phone broadcast, etc, on a single platform, to achieve improved operational efficiency, lower response times, and fewer security gaps. With growing demand for consolidation of security operations and enhanced control to handle incidents, the market for integrated PSIM solutions is poised to expand at a significant pace in the forthcoming years.
- Video Analytics Enhance PSIM Functionality: A key trend is the use of video analytics in PSIMs. The addition of technology such as violence-detection algorithms, for example, enhances a system’s functionality, improving organizations’ ability to respond. Video analytics tools can also identify unusual movements and actions and detect suspicious behavior in a crowd, while crowd analysis can help systems monitor breaches, exits, and exits near access controls. This will continue to be a trend as systems become increasingly sophisticated. Video analytics is, and will continue to be, a critical component of advanced PSIM systems, providing faster responses and optimizing the use of technology throughout the enterprise by improving overall security operations.
- Integration with AI and Machine Learning: One of the biggest trends in the PSIM market is the integration of AI and ML technologies. Advanced technologies enable the PSIM system to process vast amounts of data from various security devices in real-time and provide smarter, more proactive security solutions. AI and ML can help the ability to detect suspicious patterns and anomalies in video footage or other inputs, such as sensor data. This improves the ability to respond swiftly in an incident, often even before a security breach occurs. These systems can automatically raise the flags on incidents and rank alerts based on the perceived severity, and then forecast possible risks by learning historical trends. As businesses and organizations continue asking for more efficient and intelligent security solutions, the integration of AI and ML into PSIM platforms would be a critical trend by allowing security teams to make more informed decisions and contribute to overall safety.
- Cloud-Based PSIM Solutions: Another strong trend is the adoption of cloud-based PSIM solutions. Cloud technology offers greater flexibility, scalability, and cost efficiency than traditional on-premise systems. Moving PSIM solutions to the cloud allows organizations to manage and monitor their security operations from anywhere, which means remote surveillance and faster response times. Cloud-based PSIM platforms also enable easier integration with other cloud-based systems and devices, providing a more unified approach to security management. Moreover, cloud solutions do not require large, expensive on-site infrastructure and maintenance, which makes them very attractive to companies of all sizes. The scalability of cloud-based PSIM systems ensures that organizations are flexible and can easily scale with evolving security needs without being hindered by the constraints of traditional, on-premise systems. This is most suitable for multinational companies that have multiple facilities distributed over regions due to the provision of a centralized control mechanism of global security operations.
- Training Tools Improve PSIM Utilization: Training and simulation tools that allow guard staff to better utilize existing PSIM solutions will also be required. By providing training modules and simulation exercises, PSIM providers will enhance their users’ trust and confidence in utilizing the solution when dealing with incidents. This educational infrastructure can help improve clients’ ability to handle emergencies.
- Expansion in Smart Cities and Urban Infrastructure: The biggest opportunity for the PSIM market comes from the growing demand for security solutions in smart cities and urban infrastructure projects. As cities transform into smart hubs with interconnected technologies, it becomes necessary to develop a robust security system that can handle large-scale, multi-device environments. PSIM systems can play a critical role by integrating various security devices, including CCTV cameras, access control systems, environmental sensors, and emergency alerts, into one centralized platform. This integration enhances real-time monitoring, threat detection, and response coordination in smart city infrastructure. With the rise in worldwide urbanization and the consequent need for more intelligent and automated city management systems, PSIM providers may capitalize on the expanding market space for smart city security solutions. Moreover, as a result of governments and cities investing in upgrading their existing infrastructure, they are highly seeking scalable and adaptable systems that PSIM platforms will offer.
- Advancement in Cybersecurity and Data Protection: The greater the integration of physical security systems into digital networks, the greater the opportunity for improving cybersecurity in PSIM platforms. Given that cyber threats to physical security systems and infrastructure have increased, PSIM solutions are now called upon to safeguard against such cyberattacks. Providers that integrate such advanced features as encryption, multi-factor authentication, and secure cloud integration into their PSIM offerings can capitalize on the growing demand for secure physical security platforms. These platforms will enable organizations to manage not only physical threats but also potential digital vulnerabilities. As banks, critical infrastructures, and government agencies require stronger cybersecurity, there is a chance that PSIM solutions will be able to fill the gap between physical and cybersecurity to ensure full security management across all domains. With the integration of cybersecurity measures with PSIM systems, trust and the overall safety of organizations and critical facilities will improve.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Physical Security Information Management (PSIM) 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 Physical Security Information Management (PSIM) 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
Have a question?
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- 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.
Frequently Asked Questions
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are 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.
Key future trends in this market are - Centralized security management systems, Integration with IoT devices, AI-driven threat detection
Key companies of this market are: Axxon Soft, CNL Software, Genetec Inc, Intergraph Corporation Hexagon AB, Milestone systems A S, Prysm Software, Qognify, Tyco International Plc Johnson Controls, Verint Systems Inc.
The Physical Security Information Management (PSIM) Market is expected to register a CAGR of 21.2% from 2023-2031.
The major factors impacting the Physical Security Information Management (PSIM) Market are: Rising Demand for Integrated Security Solutions, Increasing Security Threats and Risks, and Need for Enhanced Situational Awareness.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Physical Security Information Management (PSIM) Market - By Product Type
1.3.2 Physical Security Information Management (PSIM) Market - By Application
1.3.3 Physical Security Information Management (PSIM) Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PHYSICAL SECURITY INFORMATION MANAGEMENT (PSIM) 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. PHYSICAL SECURITY INFORMATION MANAGEMENT (PSIM) 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. PHYSICAL SECURITY INFORMATION MANAGEMENT (PSIM) MARKET - GLOBAL MARKET ANALYSIS
6.1. PHYSICAL SECURITY INFORMATION MANAGEMENT (PSIM) - GLOBAL MARKET OVERVIEW
6.2. PHYSICAL SECURITY INFORMATION MANAGEMENT (PSIM) - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PHYSICAL SECURITY INFORMATION MANAGEMENT (PSIM) MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. SERVICES
7.3.1. Overview
7.3.2. Services Market Forecast and Analysis
7.4. SOFTWARE
7.4.1. Overview
7.4.2. Software Market Forecast and Analysis
8. PHYSICAL SECURITY INFORMATION MANAGEMENT (PSIM) MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. IT SECURITY
8.3.1. Overview
8.3.2. IT Security Market Forecast and Analysis
8.4. AUTOMATIC IDENTIFICATION SYSTEM
8.4.1. Overview
8.4.2. Automatic Identification system Market Forecast and Analysis
8.5. CLOUD COMPUTING
8.5.1. Overview
8.5.2. Cloud Computing Market Forecast and Analysis
8.6. DATA CENTER
8.6.1. Overview
8.6.2. Data Center Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. PHYSICAL SECURITY INFORMATION MANAGEMENT (PSIM) MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Physical Security Information Management (PSIM) Market Overview
9.1.2 North America Physical Security Information Management (PSIM) Market Forecasts and Analysis
9.1.3 North America Physical Security Information Management (PSIM) Market Forecasts and Analysis - By Product Type
9.1.4 North America Physical Security Information Management (PSIM) Market Forecasts and Analysis - By Application
9.1.5 North America Physical Security Information Management (PSIM) Market Forecasts and Analysis - By Countries
9.1.5.1 United States Physical Security Information Management (PSIM) Market
9.1.5.1.1 United States Physical Security Information Management (PSIM) Market by Product Type
9.1.5.1.2 United States Physical Security Information Management (PSIM) Market by Application
9.1.5.2 Canada Physical Security Information Management (PSIM) Market
9.1.5.2.1 Canada Physical Security Information Management (PSIM) Market by Product Type
9.1.5.2.2 Canada Physical Security Information Management (PSIM) Market by Application
9.1.5.3 Mexico Physical Security Information Management (PSIM) Market
9.1.5.3.1 Mexico Physical Security Information Management (PSIM) Market by Product Type
9.1.5.3.2 Mexico Physical Security Information Management (PSIM) Market by Application
9.2. EUROPE
9.2.1 Europe Physical Security Information Management (PSIM) Market Overview
9.2.2 Europe Physical Security Information Management (PSIM) Market Forecasts and Analysis
9.2.3 Europe Physical Security Information Management (PSIM) Market Forecasts and Analysis - By Product Type
9.2.4 Europe Physical Security Information Management (PSIM) Market Forecasts and Analysis - By Application
9.2.5 Europe Physical Security Information Management (PSIM) Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Physical Security Information Management (PSIM) Market
9.2.5.1.1 Germany Physical Security Information Management (PSIM) Market by Product Type
9.2.5.1.2 Germany Physical Security Information Management (PSIM) Market by Application
9.2.5.2 France Physical Security Information Management (PSIM) Market
9.2.5.2.1 France Physical Security Information Management (PSIM) Market by Product Type
9.2.5.2.2 France Physical Security Information Management (PSIM) Market by Application
9.2.5.3 Italy Physical Security Information Management (PSIM) Market
9.2.5.3.1 Italy Physical Security Information Management (PSIM) Market by Product Type
9.2.5.3.2 Italy Physical Security Information Management (PSIM) Market by Application
9.2.5.4 United Kingdom Physical Security Information Management (PSIM) Market
9.2.5.4.1 United Kingdom Physical Security Information Management (PSIM) Market by Product Type
9.2.5.4.2 United Kingdom Physical Security Information Management (PSIM) Market by Application
9.2.5.5 Russia Physical Security Information Management (PSIM) Market
9.2.5.5.1 Russia Physical Security Information Management (PSIM) Market by Product Type
9.2.5.5.2 Russia Physical Security Information Management (PSIM) Market by Application
9.2.5.6 Rest of Europe Physical Security Information Management (PSIM) Market
9.2.5.6.1 Rest of Europe Physical Security Information Management (PSIM) Market by Product Type
9.2.5.6.2 Rest of Europe Physical Security Information Management (PSIM) Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Physical Security Information Management (PSIM) Market Overview
9.3.2 Asia-Pacific Physical Security Information Management (PSIM) Market Forecasts and Analysis
9.3.3 Asia-Pacific Physical Security Information Management (PSIM) Market Forecasts and Analysis - By Product Type
9.3.4 Asia-Pacific Physical Security Information Management (PSIM) Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Physical Security Information Management (PSIM) Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Physical Security Information Management (PSIM) Market
9.3.5.1.1 Australia Physical Security Information Management (PSIM) Market by Product Type
9.3.5.1.2 Australia Physical Security Information Management (PSIM) Market by Application
9.3.5.2 China Physical Security Information Management (PSIM) Market
9.3.5.2.1 China Physical Security Information Management (PSIM) Market by Product Type
9.3.5.2.2 China Physical Security Information Management (PSIM) Market by Application
9.3.5.3 India Physical Security Information Management (PSIM) Market
9.3.5.3.1 India Physical Security Information Management (PSIM) Market by Product Type
9.3.5.3.2 India Physical Security Information Management (PSIM) Market by Application
9.3.5.4 Japan Physical Security Information Management (PSIM) Market
9.3.5.4.1 Japan Physical Security Information Management (PSIM) Market by Product Type
9.3.5.4.2 Japan Physical Security Information Management (PSIM) Market by Application
9.3.5.5 South Korea Physical Security Information Management (PSIM) Market
9.3.5.5.1 South Korea Physical Security Information Management (PSIM) Market by Product Type
9.3.5.5.2 South Korea Physical Security Information Management (PSIM) Market by Application
9.3.5.6 Rest of Asia-Pacific Physical Security Information Management (PSIM) Market
9.3.5.6.1 Rest of Asia-Pacific Physical Security Information Management (PSIM) Market by Product Type
9.3.5.6.2 Rest of Asia-Pacific Physical Security Information Management (PSIM) Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Physical Security Information Management (PSIM) Market Overview
9.4.2 Middle East and Africa Physical Security Information Management (PSIM) Market Forecasts and Analysis
9.4.3 Middle East and Africa Physical Security Information Management (PSIM) Market Forecasts and Analysis - By Product Type
9.4.4 Middle East and Africa Physical Security Information Management (PSIM) Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Physical Security Information Management (PSIM) Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Physical Security Information Management (PSIM) Market
9.4.5.1.1 South Africa Physical Security Information Management (PSIM) Market by Product Type
9.4.5.1.2 South Africa Physical Security Information Management (PSIM) Market by Application
9.4.5.2 Saudi Arabia Physical Security Information Management (PSIM) Market
9.4.5.2.1 Saudi Arabia Physical Security Information Management (PSIM) Market by Product Type
9.4.5.2.2 Saudi Arabia Physical Security Information Management (PSIM) Market by Application
9.4.5.3 U.A.E Physical Security Information Management (PSIM) Market
9.4.5.3.1 U.A.E Physical Security Information Management (PSIM) Market by Product Type
9.4.5.3.2 U.A.E Physical Security Information Management (PSIM) Market by Application
9.4.5.4 Rest of Middle East and Africa Physical Security Information Management (PSIM) Market
9.4.5.4.1 Rest of Middle East and Africa Physical Security Information Management (PSIM) Market by Product Type
9.4.5.4.2 Rest of Middle East and Africa Physical Security Information Management (PSIM) Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Physical Security Information Management (PSIM) Market Overview
9.5.2 South and Central America Physical Security Information Management (PSIM) Market Forecasts and Analysis
9.5.3 South and Central America Physical Security Information Management (PSIM) Market Forecasts and Analysis - By Product Type
9.5.4 South and Central America Physical Security Information Management (PSIM) Market Forecasts and Analysis - By Application
9.5.5 South and Central America Physical Security Information Management (PSIM) Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Physical Security Information Management (PSIM) Market
9.5.5.1.1 Brazil Physical Security Information Management (PSIM) Market by Product Type
9.5.5.1.2 Brazil Physical Security Information Management (PSIM) Market by Application
9.5.5.2 Argentina Physical Security Information Management (PSIM) Market
9.5.5.2.1 Argentina Physical Security Information Management (PSIM) Market by Product Type
9.5.5.2.2 Argentina Physical Security Information Management (PSIM) Market by Application
9.5.5.3 Rest of South and Central America Physical Security Information Management (PSIM) Market
9.5.5.3.1 Rest of South and Central America Physical Security Information Management (PSIM) Market by Product Type
9.5.5.3.2 Rest of South and Central America Physical Security Information Management (PSIM) Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. PHYSICAL SECURITY INFORMATION MANAGEMENT (PSIM) MARKET, KEY COMPANY PROFILES
11.1. AXXON SOFT
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. CNL SOFTWARE
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. GENETEC INC
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. INTERGRAPH CORPORATION (HEXAGON AB)
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. MILESTONE SYSTEMS A/S
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. PRYSM SOFTWARE
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. QOGNIFY
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. TYCO INTERNATIONAL PLC (JOHNSON CONTROLS)
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. VERINT SYSTEMS INC
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. VIDSYS, INC
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
11.11. SVS (UNIVERSAL SECURITY COMPANY) "? SECURING YOUR FUTURE IS AT THE HEART OF EVERYTHING WE DO !
11.11.1. Key Facts
11.11.2. Business Description
11.11.3. Products and Services
11.11.4. Financial Overview
11.11.5. SWOT Analysis
11.11.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Axxon Soft
2. CNL Software
3. Genetec Inc
4. Intergraph Corporation (Hexagon AB)
5. Milestone systems A/S
6. Prysm Software
7. Qognify
8. Tyco International Plc (Johnson Controls)
9. Verint Systems Inc
10. Vidsys, Inc
11. SVS (Universal Security Company) " Securing Your Future is at the heart of everything we do !
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.
Get Free Sample For