Polished Concrete Market Trends, Analysis, Top Players 2021-2031
The Polished Concrete Market is expected to register a CAGR of 6% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Type (Densifier, Sealer and Crack Filler, and Conditioner). The report presents analysis based on Method (Dry and Wet). Based on End-Use the report is segmented into (Residential, Commercial, Institutional, Infrastructure, and Others).The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Polished Concrete 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.
Polished Concrete Market Segmentation
Type- Densifier
- Sealer and Crack Filler
- Conditioner
- Dry
- Wet
Strategic Insights
Polished Concrete Market Growth Drivers- Sustainability Driving Growth in Polished Concrete Market: Sustainability is now the biggest pull for the polished concrete market, as consumers and businesses increasingly focus on green, eco-friendly materials. Polished concrete uses locally sourced materials for its composition, thereby reducing transportation emissions associated with it. Its durability minimizes frequent replacement, further cutting resource consumption and aligning with the green building practices.
- Eco-Friendly Features of Polished Concrete: Besides, with polished concrete, there is energy-efficiency appeal. Because of its reflective surface, it brightens up the natural lighting in spaces. This helps to reduce reliance on artificial lighting sources. The lowered energy costs also help in availing the LEED certifications while the feature makes it their preferred choice for environmentally conscious developers.
- Energy Efficiency and Minimal Maintenance Enhance Polished Concrete Appeal: Moreover, the minimal maintenance requirements of polished concrete boost its sustainability profile. When comparing it with other flooring products that may need occasional refinishes or replacements, polished concrete can maintain an aesthetics appearance for relatively long periods without much toil. The extended use life contributes to a reduced environmental footprint over time appealing to both the commercial and residential sectors.
- Polished Concrete's Low Maintenance Appeal: The cost concern with maintaining polished concrete is rising; the cost is now running into thousands of dollars. This will no doubt be attributed to the fact that, unlike other systems for flooring, polished concrete is not a system that is very maintenance-intensive. It would be rugged thereby minimizing the number of repairs and replacements, attractive to such cost-conscious businesses as well as homeowners requiring long-term solutions that have neither compromised in aesthetics nor functionality.
- Cost Savings with Minimal Upkeep: In addition, polished concrete has low maintenance elements that save much cost in the long term. It can sometimes be maintained using frequent cleaning to retain the shine and therefore saving costs but at a cost of increased labour and resource use. This economic efficiency makes it more attractive to various industries, such as retail and industrial sectors; it further cements its practicality as a flooring solution in the marketplace.
- Sustainability and Cost Efficiency Drive Polished Concrete Adoption: Therefore, the sustainability trend heightens the appeal of the low-maintenance requirement of polished concrete. Companies are more desperate than ever to reduce their environmental footprint; however, to do that, they want something long-lasting with fewer resource consumptions. Here enters polished concrete. This cost-saving-oriented yet sustainable synergy is what is increasingly influencing decisions during purchase decisions; therefore, polished concrete is becoming one's preference.
- Polished Concrete in Educational Institutions: Educational institutions are playing a leading part in the growth opportunities in this market for polished concrete. As schools and universities have an increasing focus on durability and low-maintenance environments, they are turning more towards polished concrete as an appropriate solution. It has sufficiently been proven to be durable to withstand heavy traffic in settings that involve heavy usage such as hallways and classrooms, not to mention auditoriums.
- Durability and Aesthetic Flexibility for Campus Environments: Moreover, the aesthetic flexibility of polished concrete corresponds very well with modern architectural trends in educational settings. Institutions are on the look out for contemporary designs that would create an effective learning environment without literally breaking the bank. Polished concrete creates a smooth, shining appearance, and several finishes and colors can be achieved, refreshing the whole ambiance of the campus.
- Sustainability and Energy Efficiency in Educational Settings: Another reason polished concrete is fast becoming everyone's favorite is because educational institutions are keen on sustainability as their highest priority, increasing demand for it. Since polished concrete reflects natural light and minimizes energy usage while enhancing green initiatives, educational institutions find polished concrete an ideal flooring choice with practicality when striving for LEED certification.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Polished Concrete 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 Polished Concrete Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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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
Reduced Maintenance Costs is expected to be the key market trends.
Based on geography, Asia Pacific held the largest share of the polished concrete market.
BASF SE, 3M Company, Sika AG are some of the key players operating in the polished concrete market
Based on type, densifier is expected to witness the fastest growth during the forecast period
The Polished Concrete Market is estimated to witness a CAGR of 6% from 2023 to 2031
Sustainability Focus is driving the market growth
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 Polished Concrete Market - By Type
1.3.2 Polished Concrete Market - By Method
1.3.3 Polished Concrete Market - By Construction Type
1.3.4 Polished Concrete Market - By End-Use Sector
1.3.5 Polished Concrete Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. POLISHED CONCRETE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America- Pest Analysis
4.2.1 Europe- Pest Analysis
4.2.1 Asia Pacific- Pest Analysis
4.2.1 Middle East and Africa- Pest Analysis
4.2.1 South and Central America- Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. POLISHED CONCRETE 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. POLISHED CONCRETE MARKET - GLOBAL MARKET ANALYSIS
6.1. POLISHED CONCRETE - GLOBAL MARKET OVERVIEW
6.2. POLISHED CONCRETE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. POLISHED CONCRETE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. DENSIFIER
7.3.1. Overview
7.3.2. Densifier Market Forecast and Analysis
7.4. SEALER AND CRACK FILLER
7.4.1. Overview
7.4.2. Sealer and Crack Filler Market Forecast and Analysis
7.5. CONDITIONER
7.5.1. Overview
7.5.2. Conditioner Market Forecast and Analysis
8. POLISHED CONCRETE MARKET - REVENUE AND FORECASTS TO 2028 - METHOD
8.1. OVERVIEW
8.2. METHOD MARKET FORECASTS AND ANALYSIS
8.3. DRY
8.3.1. Overview
8.3.2. Dry Market Forecast and Analysis
8.4. WET
8.4.1. Overview
8.4.2. Wet Market Forecast and Analysis
9. POLISHED CONCRETE MARKET - REVENUE AND FORECASTS TO 2028 - CONSTRUCTION TYPE
9.1. OVERVIEW
9.2. CONSTRUCTION TYPE MARKET FORECASTS AND ANALYSIS
9.3. NEW CONSTRUCTION
9.3.1. Overview
9.3.2. New Construction Market Forecast and Analysis
9.4. RENOVATION
9.4.1. Overview
9.4.2. Renovation Market Forecast and Analysis
10. POLISHED CONCRETE MARKET - REVENUE AND FORECASTS TO 2028 - END-USE SECTOR
10.1. OVERVIEW
10.2. END-USE SECTOR MARKET FORECASTS AND ANALYSIS
10.3. RESIDENTIAL
10.3.1. Overview
10.3.2. Residential Market Forecast and Analysis
10.4. NON-RESIDENTIAL
10.4.1. Overview
10.4.2. Non-residential Market Forecast and Analysis
11. POLISHED CONCRETE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Polished Concrete Market Overview
11.1.2 North America Polished Concrete Market Forecasts and Analysis
11.1.3 North America Polished Concrete Market Forecasts and Analysis - By Type
11.1.4 North America Polished Concrete Market Forecasts and Analysis - By Method
11.1.5 North America Polished Concrete Market Forecasts and Analysis - By Construction Type
11.1.6 North America Polished Concrete Market Forecasts and Analysis - By End-Use Sector
11.1.7 North America Polished Concrete Market Forecasts and Analysis - By Countries
11.1.7.1 United States Polished Concrete Market
11.1.7.1.1 United States Polished Concrete Market by Type
11.1.7.1.2 United States Polished Concrete Market by Method
11.1.7.1.3 United States Polished Concrete Market by Construction Type
11.1.7.1.4 United States Polished Concrete Market by End-Use Sector
11.1.7.2 Canada Polished Concrete Market
11.1.7.2.1 Canada Polished Concrete Market by Type
11.1.7.2.2 Canada Polished Concrete Market by Method
11.1.7.2.3 Canada Polished Concrete Market by Construction Type
11.1.7.2.4 Canada Polished Concrete Market by End-Use Sector
11.1.7.3 Mexico Polished Concrete Market
11.1.7.3.1 Mexico Polished Concrete Market by Type
11.1.7.3.2 Mexico Polished Concrete Market by Method
11.1.7.3.3 Mexico Polished Concrete Market by Construction Type
11.1.7.3.4 Mexico Polished Concrete Market by End-Use Sector
11.2. EUROPE
11.2.1 Europe Polished Concrete Market Overview
11.2.2 Europe Polished Concrete Market Forecasts and Analysis
11.2.3 Europe Polished Concrete Market Forecasts and Analysis - By Type
11.2.4 Europe Polished Concrete Market Forecasts and Analysis - By Method
11.2.5 Europe Polished Concrete Market Forecasts and Analysis - By Construction Type
11.2.6 Europe Polished Concrete Market Forecasts and Analysis - By End-Use Sector
11.2.7 Europe Polished Concrete Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Polished Concrete Market
11.2.7.1.1 Germany Polished Concrete Market by Type
11.2.7.1.2 Germany Polished Concrete Market by Method
11.2.7.1.3 Germany Polished Concrete Market by Construction Type
11.2.7.1.4 Germany Polished Concrete Market by End-Use Sector
11.2.7.2 France Polished Concrete Market
11.2.7.2.1 France Polished Concrete Market by Type
11.2.7.2.2 France Polished Concrete Market by Method
11.2.7.2.3 France Polished Concrete Market by Construction Type
11.2.7.2.4 France Polished Concrete Market by End-Use Sector
11.2.7.3 Italy Polished Concrete Market
11.2.7.3.1 Italy Polished Concrete Market by Type
11.2.7.3.2 Italy Polished Concrete Market by Method
11.2.7.3.3 Italy Polished Concrete Market by Construction Type
11.2.7.3.4 Italy Polished Concrete Market by End-Use Sector
11.2.7.4 United Kingdom Polished Concrete Market
11.2.7.4.1 United Kingdom Polished Concrete Market by Type
11.2.7.4.2 United Kingdom Polished Concrete Market by Method
11.2.7.4.3 United Kingdom Polished Concrete Market by Construction Type
11.2.7.4.4 United Kingdom Polished Concrete Market by End-Use Sector
11.2.7.5 Russia Polished Concrete Market
11.2.7.5.1 Russia Polished Concrete Market by Type
11.2.7.5.2 Russia Polished Concrete Market by Method
11.2.7.5.3 Russia Polished Concrete Market by Construction Type
11.2.7.5.4 Russia Polished Concrete Market by End-Use Sector
11.2.7.6 Rest of Europe Polished Concrete Market
11.2.7.6.1 Rest of Europe Polished Concrete Market by Type
11.2.7.6.2 Rest of Europe Polished Concrete Market by Method
11.2.7.6.3 Rest of Europe Polished Concrete Market by Construction Type
11.2.7.6.4 Rest of Europe Polished Concrete Market by End-Use Sector
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Polished Concrete Market Overview
11.3.2 Asia-Pacific Polished Concrete Market Forecasts and Analysis
11.3.3 Asia-Pacific Polished Concrete Market Forecasts and Analysis - By Type
11.3.4 Asia-Pacific Polished Concrete Market Forecasts and Analysis - By Method
11.3.5 Asia-Pacific Polished Concrete Market Forecasts and Analysis - By Construction Type
11.3.6 Asia-Pacific Polished Concrete Market Forecasts and Analysis - By End-Use Sector
11.3.7 Asia-Pacific Polished Concrete Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Polished Concrete Market
11.3.7.1.1 Australia Polished Concrete Market by Type
11.3.7.1.2 Australia Polished Concrete Market by Method
11.3.7.1.3 Australia Polished Concrete Market by Construction Type
11.3.7.1.4 Australia Polished Concrete Market by End-Use Sector
11.3.7.2 China Polished Concrete Market
11.3.7.2.1 China Polished Concrete Market by Type
11.3.7.2.2 China Polished Concrete Market by Method
11.3.7.2.3 China Polished Concrete Market by Construction Type
11.3.7.2.4 China Polished Concrete Market by End-Use Sector
11.3.7.3 India Polished Concrete Market
11.3.7.3.1 India Polished Concrete Market by Type
11.3.7.3.2 India Polished Concrete Market by Method
11.3.7.3.3 India Polished Concrete Market by Construction Type
11.3.7.3.4 India Polished Concrete Market by End-Use Sector
11.3.7.4 Japan Polished Concrete Market
11.3.7.4.1 Japan Polished Concrete Market by Type
11.3.7.4.2 Japan Polished Concrete Market by Method
11.3.7.4.3 Japan Polished Concrete Market by Construction Type
11.3.7.4.4 Japan Polished Concrete Market by End-Use Sector
11.3.7.5 South Korea Polished Concrete Market
11.3.7.5.1 South Korea Polished Concrete Market by Type
11.3.7.5.2 South Korea Polished Concrete Market by Method
11.3.7.5.3 South Korea Polished Concrete Market by Construction Type
11.3.7.5.4 South Korea Polished Concrete Market by End-Use Sector
11.3.7.6 Rest of Asia-Pacific Polished Concrete Market
11.3.7.6.1 Rest of Asia-Pacific Polished Concrete Market by Type
11.3.7.6.2 Rest of Asia-Pacific Polished Concrete Market by Method
11.3.7.6.3 Rest of Asia-Pacific Polished Concrete Market by Construction Type
11.3.7.6.4 Rest of Asia-Pacific Polished Concrete Market by End-Use Sector
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Polished Concrete Market Overview
11.4.2 Middle East and Africa Polished Concrete Market Forecasts and Analysis
11.4.3 Middle East and Africa Polished Concrete Market Forecasts and Analysis - By Type
11.4.4 Middle East and Africa Polished Concrete Market Forecasts and Analysis - By Method
11.4.5 Middle East and Africa Polished Concrete Market Forecasts and Analysis - By Construction Type
11.4.6 Middle East and Africa Polished Concrete Market Forecasts and Analysis - By End-Use Sector
11.4.7 Middle East and Africa Polished Concrete Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Polished Concrete Market
11.4.7.1.1 South Africa Polished Concrete Market by Type
11.4.7.1.2 South Africa Polished Concrete Market by Method
11.4.7.1.3 South Africa Polished Concrete Market by Construction Type
11.4.7.1.4 South Africa Polished Concrete Market by End-Use Sector
11.4.7.2 Saudi Arabia Polished Concrete Market
11.4.7.2.1 Saudi Arabia Polished Concrete Market by Type
11.4.7.2.2 Saudi Arabia Polished Concrete Market by Method
11.4.7.2.3 Saudi Arabia Polished Concrete Market by Construction Type
11.4.7.2.4 Saudi Arabia Polished Concrete Market by End-Use Sector
11.4.7.3 U.A.E Polished Concrete Market
11.4.7.3.1 U.A.E Polished Concrete Market by Type
11.4.7.3.2 U.A.E Polished Concrete Market by Method
11.4.7.3.3 U.A.E Polished Concrete Market by Construction Type
11.4.7.3.4 U.A.E Polished Concrete Market by End-Use Sector
11.4.7.4 Rest of Middle East and Africa Polished Concrete Market
11.4.7.4.1 Rest of Middle East and Africa Polished Concrete Market by Type
11.4.7.4.2 Rest of Middle East and Africa Polished Concrete Market by Method
11.4.7.4.3 Rest of Middle East and Africa Polished Concrete Market by Construction Type
11.4.7.4.4 Rest of Middle East and Africa Polished Concrete Market by End-Use Sector
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Polished Concrete Market Overview
11.5.2 South and Central America Polished Concrete Market Forecasts and Analysis
11.5.3 South and Central America Polished Concrete Market Forecasts and Analysis - By Type
11.5.4 South and Central America Polished Concrete Market Forecasts and Analysis - By Method
11.5.5 South and Central America Polished Concrete Market Forecasts and Analysis - By Construction Type
11.5.6 South and Central America Polished Concrete Market Forecasts and Analysis - By End-Use Sector
11.5.7 South and Central America Polished Concrete Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Polished Concrete Market
11.5.7.1.1 Brazil Polished Concrete Market by Type
11.5.7.1.2 Brazil Polished Concrete Market by Method
11.5.7.1.3 Brazil Polished Concrete Market by Construction Type
11.5.7.1.4 Brazil Polished Concrete Market by End-Use Sector
11.5.7.2 Argentina Polished Concrete Market
11.5.7.2.1 Argentina Polished Concrete Market by Type
11.5.7.2.2 Argentina Polished Concrete Market by Method
11.5.7.2.3 Argentina Polished Concrete Market by Construction Type
11.5.7.2.4 Argentina Polished Concrete Market by End-Use Sector
11.5.7.3 Rest of South and Central America Polished Concrete Market
11.5.7.3.1 Rest of South and Central America Polished Concrete Market by Type
11.5.7.3.2 Rest of South and Central America Polished Concrete Market by Method
11.5.7.3.3 Rest of South and Central America Polished Concrete Market by Construction Type
11.5.7.3.4 Rest of South and Central America Polished Concrete Market by End-Use Sector
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. POLISHED CONCRETE MARKET, KEY COMPANY PROFILES
13.1. BASF SE
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. 3M COMPANY
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. SIKA AG
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. THE SHERWIN WILLIAMS COMPANY
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. PPG INDUSTRIES, INC
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. ULTRATECH CEMENT LIMITED
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. BORAL LIMITED
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. DMF CONCRETE
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. PASADENA CONCRETEWORKS, INC
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. CHARLOTTES CONCRETE
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
The List of Companies
1. BASF SE
2. 3M Company
3. Sika AG
4. The Sherwin Williams Company
5. PPG Industries, Inc
6. UltraTech Cement Limited
7. Boral Limited
8. dmf concrete
9. Pasadena Concreteworks, Inc
10. CHARLOTTES CONCRETE
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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