Power Module Market | 2031 Insights | Recent Updates
The Power Module Market is expected to register a CAGR of 9.7% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
Power Module market report provides insight into the development of power electronics in renewable energy, electric vehicles, and consumer electronics. It also covers the current market trends, future growth rate, influence of advance development in semiconductor technology, and a number of company profiles with their competitive outlook and emerging opportunities in the growing sector.
Purpose of the ReportThe report Power Module 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.
Power Module Market Segmentation
Voltage Rating- Up To 600 V
- 1200 V
- Above 1200 V
- Up to 100 A
- 101-600 A
- Above 600 A
- IGBT
- MOSFET
- Consumer
- Industrial
- Consumer
- Industrial
Strategic Insights
Power Module Market Growth Drivers- Rise in number of electric vehicles: The major reason behind the rise for Power Module market is the increase in the number of Electric Vehicles (EVs), industrial automation and also rise in renewable energy, as it is the basic step in electrification world. For industries too, the need for power modules is rising as they are extensively adopted for application related to automation, robotics which is expanding the market scope and size.
- Increased adoption of renewable energy: The increasing adoption of renewable energy such as solar and wind power is driving the demand for high-efficiency power modules for the distribution and conversion of high power with reduced losses. Environment friendly energy solutions are expected to be the key, where power modules are one of their critical components and can play a pivotal role in energy efficiency - propelling market growth.
- Technological Advancements in Power Semiconductors: Technological advancements in power semiconductor technologies, such as silicon carbide (SiC) and gallium nitride (GaN), are driving the growth of the power module market.
- New Semiconductor Materials: Some specific trends in the Power Module market are innovations on the module design, which led to the development of new semiconductor materials such as silicon carbide (SiC) and gallium nitride (GaN). These new materials improve the power density and efficiency, decrease the internal losses, and also lower the heat dissipated from electronics - attributes that all industries strive for when it comes to making the module smaller and more energy-efficient. This led the market to have an even stronger interest in using both silicon carbide and gallium nitride-based power modules.
- Technology Integration: Another trend, highlighted in the report, is the integration of smart technologies into the power modules such that they can be monitored and diagnosed in real-time to help maximise the output of machines, while driving down the downtime. The companies are turning to more of these smart modules to upgrade their predictive maintenance capabilities and cut down on operational expenditure.
- Miniaturization of Power Modules: Miniaturization remains a prominent trend in the power module market. Manufacturers are focusing on developing smaller, more efficient power modules that can deliver higher performance while minimizing size and weight.
- Green Energy Efforts: The Power Module market offers a substantial potential for all players in the market. In general, green energy efforts are soaring on a global scale, and the rise of solar and wind energy projects are providing ample application opportunities for power modoules in the field of energy storage, power grid management, and energy conversion systems. As the manufacture of green energy infrastructure is at a boom, the companies which are investing on power modules suiting to renewdable energy infrastructure are going to witness a considerable share in the market.
- Demand from electric vehicles: The surging market of electric vehicles represents another important opportunity. As the production of EVs increases, power module manufacturers are needed urgently to increase range and energy efficiency of vehicles, as well as mitigate the pressure caused by increasing demands for the reduction of CO2 emissions from power systems around the world. By regarding EV-compatible power modules as the new focus, companies c an successfully tap into the growing EV sector.
- Advancements in 5G and Telecommunications: The rollout of 5G networks and the increasing demand for higher data transmission speeds and improved connectivity are creating new opportunities for the power module market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Power Module 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 Power Module Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
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 players in this market are - Galco Industrial Electronics, Infineon Technologies AG, Microsemi Microchip Technology Inc, Mitsubishi Electric Corporation, Monolithic Power Systems Inc, Renesas Electronics Corporation, ROHM Semiconductor, Solid State Devices Inc, STMicroelectronics
Power module market trend has been increased use of high-performance materials, such as silicon carbide (SiC) and gallium nitride (GaN), which increase efficiency and improve performance. Meanwhile, modularity is increasing, to drive down the complexity of installation and costs.
The market is expected to register a CAGR of 9.7% during 2023-2031.
The demand for power modules that are highly energy efficient and the fact that renewable energy is witnessing continuous demand are said to be key factors that are spearheading the power module market. The rise in demand for lightweight and compact power systems in consumer electronics is also contributing to the growth of the market.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Power Module Market - By Voltage Rating
1.3.2 Power Module Market - By Current Rating
1.3.3 Power Module Market - By Power Device
1.3.4 Power Module Market - By Application
1.3.5 Power Module Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. POWER MODULE 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. POWER MODULE 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. POWER MODULE MARKET - GLOBAL MARKET ANALYSIS
6.1. POWER MODULE - GLOBAL MARKET OVERVIEW
6.2. POWER MODULE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. POWER MODULE MARKET - REVENUE AND FORECASTS TO 2028 - VOLTAGE RATING
7.1. OVERVIEW
7.2. VOLTAGE RATING MARKET FORECASTS AND ANALYSIS
7.3. UP TO 600 V
7.3.1. Overview
7.3.2. Up To 600 V Market Forecast and Analysis
7.4. 1200 V
7.4.1. Overview
7.4.2. 1200 V Market Forecast and Analysis
7.5. ABOVE 1200 V
7.5.1. Overview
7.5.2. Above 1200 V Market Forecast and Analysis
8. POWER MODULE MARKET - REVENUE AND FORECASTS TO 2028 - CURRENT RATING
8.1. OVERVIEW
8.2. CURRENT RATING MARKET FORECASTS AND ANALYSIS
8.3. UP TO 100 A
8.3.1. Overview
8.3.2. Up to 100 A Market Forecast and Analysis
8.4. 101-600 A
8.4.1. Overview
8.4.2. 101-600 A Market Forecast and Analysis
8.5. ABOVE 600 A
8.5.1. Overview
8.5.2. Above 600 A Market Forecast and Analysis
9. POWER MODULE MARKET - REVENUE AND FORECASTS TO 2028 - POWER DEVICE
9.1. OVERVIEW
9.2. POWER DEVICE MARKET FORECASTS AND ANALYSIS
9.3. IGBT
9.3.1. Overview
9.3.2. IGBT Market Forecast and Analysis
9.4. MOSFET
9.4.1. Overview
9.4.2. MOSFET Market Forecast and Analysis
10. POWER MODULE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
10.1. OVERVIEW
10.2. APPLICATION MARKET FORECASTS AND ANALYSIS
10.3. CONSUMER
10.3.1. Overview
10.3.2. Consumer Market Forecast and Analysis
10.3.3. Air Conditioner Market
10.3.3.1. Overview
10.3.3.2. Air Conditioner Market Forecast and Analysis
10.3.4. Washing Machine Market
10.3.4.1. Overview
10.3.4.2. Washing Machine Market Forecast and Analysis
10.3.5. Refrigerators Market
10.3.5.1. Overview
10.3.5.2. Refrigerators Market Forecast and Analysis
10.3.6. Others Market
10.3.6.1. Overview
10.3.6.2. Others Market Forecast and Analysis
10.4. INDUSTRIAL
10.4.1. Overview
10.4.2. Industrial Market Forecast and Analysis
10.4.3. Servo Drives Market
10.4.3.1. Overview
10.4.3.2. Servo Drives Market Forecast and Analysis
10.4.4. Transportation Market
10.4.4.1. Overview
10.4.4.2. Transportation Market Forecast and Analysis
10.4.5. UPS Market
10.4.5.1. Overview
10.4.5.2. UPS Market Forecast and Analysis
10.4.6. Renewable Energy Market
10.4.6.1. Overview
10.4.6.2. Renewable Energy Market Forecast and Analysis
10.4.7. Others Market
10.4.7.1. Overview
10.4.7.2. Others Market Forecast and Analysis
11. POWER MODULE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Power Module Market Overview
11.1.2 North America Power Module Market Forecasts and Analysis
11.1.3 North America Power Module Market Forecasts and Analysis - By Voltage Rating
11.1.4 North America Power Module Market Forecasts and Analysis - By Current Rating
11.1.5 North America Power Module Market Forecasts and Analysis - By Power Device
11.1.6 North America Power Module Market Forecasts and Analysis - By Application
11.1.7 North America Power Module Market Forecasts and Analysis - By Countries
11.1.7.1 United States Power Module Market
11.1.7.1.1 United States Power Module Market by Voltage Rating
11.1.7.1.2 United States Power Module Market by Current Rating
11.1.7.1.3 United States Power Module Market by Power Device
11.1.7.1.4 United States Power Module Market by Application
11.1.7.2 Canada Power Module Market
11.1.7.2.1 Canada Power Module Market by Voltage Rating
11.1.7.2.2 Canada Power Module Market by Current Rating
11.1.7.2.3 Canada Power Module Market by Power Device
11.1.7.2.4 Canada Power Module Market by Application
11.1.7.3 Mexico Power Module Market
11.1.7.3.1 Mexico Power Module Market by Voltage Rating
11.1.7.3.2 Mexico Power Module Market by Current Rating
11.1.7.3.3 Mexico Power Module Market by Power Device
11.1.7.3.4 Mexico Power Module Market by Application
11.2. EUROPE
11.2.1 Europe Power Module Market Overview
11.2.2 Europe Power Module Market Forecasts and Analysis
11.2.3 Europe Power Module Market Forecasts and Analysis - By Voltage Rating
11.2.4 Europe Power Module Market Forecasts and Analysis - By Current Rating
11.2.5 Europe Power Module Market Forecasts and Analysis - By Power Device
11.2.6 Europe Power Module Market Forecasts and Analysis - By Application
11.2.7 Europe Power Module Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Power Module Market
11.2.7.1.1 Germany Power Module Market by Voltage Rating
11.2.7.1.2 Germany Power Module Market by Current Rating
11.2.7.1.3 Germany Power Module Market by Power Device
11.2.7.1.4 Germany Power Module Market by Application
11.2.7.2 France Power Module Market
11.2.7.2.1 France Power Module Market by Voltage Rating
11.2.7.2.2 France Power Module Market by Current Rating
11.2.7.2.3 France Power Module Market by Power Device
11.2.7.2.4 France Power Module Market by Application
11.2.7.3 Italy Power Module Market
11.2.7.3.1 Italy Power Module Market by Voltage Rating
11.2.7.3.2 Italy Power Module Market by Current Rating
11.2.7.3.3 Italy Power Module Market by Power Device
11.2.7.3.4 Italy Power Module Market by Application
11.2.7.4 United Kingdom Power Module Market
11.2.7.4.1 United Kingdom Power Module Market by Voltage Rating
11.2.7.4.2 United Kingdom Power Module Market by Current Rating
11.2.7.4.3 United Kingdom Power Module Market by Power Device
11.2.7.4.4 United Kingdom Power Module Market by Application
11.2.7.5 Russia Power Module Market
11.2.7.5.1 Russia Power Module Market by Voltage Rating
11.2.7.5.2 Russia Power Module Market by Current Rating
11.2.7.5.3 Russia Power Module Market by Power Device
11.2.7.5.4 Russia Power Module Market by Application
11.2.7.6 Rest of Europe Power Module Market
11.2.7.6.1 Rest of Europe Power Module Market by Voltage Rating
11.2.7.6.2 Rest of Europe Power Module Market by Current Rating
11.2.7.6.3 Rest of Europe Power Module Market by Power Device
11.2.7.6.4 Rest of Europe Power Module Market by Application
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Power Module Market Overview
11.3.2 Asia-Pacific Power Module Market Forecasts and Analysis
11.3.3 Asia-Pacific Power Module Market Forecasts and Analysis - By Voltage Rating
11.3.4 Asia-Pacific Power Module Market Forecasts and Analysis - By Current Rating
11.3.5 Asia-Pacific Power Module Market Forecasts and Analysis - By Power Device
11.3.6 Asia-Pacific Power Module Market Forecasts and Analysis - By Application
11.3.7 Asia-Pacific Power Module Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Power Module Market
11.3.7.1.1 Australia Power Module Market by Voltage Rating
11.3.7.1.2 Australia Power Module Market by Current Rating
11.3.7.1.3 Australia Power Module Market by Power Device
11.3.7.1.4 Australia Power Module Market by Application
11.3.7.2 China Power Module Market
11.3.7.2.1 China Power Module Market by Voltage Rating
11.3.7.2.2 China Power Module Market by Current Rating
11.3.7.2.3 China Power Module Market by Power Device
11.3.7.2.4 China Power Module Market by Application
11.3.7.3 India Power Module Market
11.3.7.3.1 India Power Module Market by Voltage Rating
11.3.7.3.2 India Power Module Market by Current Rating
11.3.7.3.3 India Power Module Market by Power Device
11.3.7.3.4 India Power Module Market by Application
11.3.7.4 Japan Power Module Market
11.3.7.4.1 Japan Power Module Market by Voltage Rating
11.3.7.4.2 Japan Power Module Market by Current Rating
11.3.7.4.3 Japan Power Module Market by Power Device
11.3.7.4.4 Japan Power Module Market by Application
11.3.7.5 South Korea Power Module Market
11.3.7.5.1 South Korea Power Module Market by Voltage Rating
11.3.7.5.2 South Korea Power Module Market by Current Rating
11.3.7.5.3 South Korea Power Module Market by Power Device
11.3.7.5.4 South Korea Power Module Market by Application
11.3.7.6 Rest of Asia-Pacific Power Module Market
11.3.7.6.1 Rest of Asia-Pacific Power Module Market by Voltage Rating
11.3.7.6.2 Rest of Asia-Pacific Power Module Market by Current Rating
11.3.7.6.3 Rest of Asia-Pacific Power Module Market by Power Device
11.3.7.6.4 Rest of Asia-Pacific Power Module Market by Application
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Power Module Market Overview
11.4.2 Middle East and Africa Power Module Market Forecasts and Analysis
11.4.3 Middle East and Africa Power Module Market Forecasts and Analysis - By Voltage Rating
11.4.4 Middle East and Africa Power Module Market Forecasts and Analysis - By Current Rating
11.4.5 Middle East and Africa Power Module Market Forecasts and Analysis - By Power Device
11.4.6 Middle East and Africa Power Module Market Forecasts and Analysis - By Application
11.4.7 Middle East and Africa Power Module Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Power Module Market
11.4.7.1.1 South Africa Power Module Market by Voltage Rating
11.4.7.1.2 South Africa Power Module Market by Current Rating
11.4.7.1.3 South Africa Power Module Market by Power Device
11.4.7.1.4 South Africa Power Module Market by Application
11.4.7.2 Saudi Arabia Power Module Market
11.4.7.2.1 Saudi Arabia Power Module Market by Voltage Rating
11.4.7.2.2 Saudi Arabia Power Module Market by Current Rating
11.4.7.2.3 Saudi Arabia Power Module Market by Power Device
11.4.7.2.4 Saudi Arabia Power Module Market by Application
11.4.7.3 U.A.E Power Module Market
11.4.7.3.1 U.A.E Power Module Market by Voltage Rating
11.4.7.3.2 U.A.E Power Module Market by Current Rating
11.4.7.3.3 U.A.E Power Module Market by Power Device
11.4.7.3.4 U.A.E Power Module Market by Application
11.4.7.4 Rest of Middle East and Africa Power Module Market
11.4.7.4.1 Rest of Middle East and Africa Power Module Market by Voltage Rating
11.4.7.4.2 Rest of Middle East and Africa Power Module Market by Current Rating
11.4.7.4.3 Rest of Middle East and Africa Power Module Market by Power Device
11.4.7.4.4 Rest of Middle East and Africa Power Module Market by Application
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Power Module Market Overview
11.5.2 South and Central America Power Module Market Forecasts and Analysis
11.5.3 South and Central America Power Module Market Forecasts and Analysis - By Voltage Rating
11.5.4 South and Central America Power Module Market Forecasts and Analysis - By Current Rating
11.5.5 South and Central America Power Module Market Forecasts and Analysis - By Power Device
11.5.6 South and Central America Power Module Market Forecasts and Analysis - By Application
11.5.7 South and Central America Power Module Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Power Module Market
11.5.7.1.1 Brazil Power Module Market by Voltage Rating
11.5.7.1.2 Brazil Power Module Market by Current Rating
11.5.7.1.3 Brazil Power Module Market by Power Device
11.5.7.1.4 Brazil Power Module Market by Application
11.5.7.2 Argentina Power Module Market
11.5.7.2.1 Argentina Power Module Market by Voltage Rating
11.5.7.2.2 Argentina Power Module Market by Current Rating
11.5.7.2.3 Argentina Power Module Market by Power Device
11.5.7.2.4 Argentina Power Module Market by Application
11.5.7.3 Rest of South and Central America Power Module Market
11.5.7.3.1 Rest of South and Central America Power Module Market by Voltage Rating
11.5.7.3.2 Rest of South and Central America Power Module Market by Current Rating
11.5.7.3.3 Rest of South and Central America Power Module Market by Power Device
11.5.7.3.4 Rest of South and Central America Power Module Market by Application
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. POWER MODULE MARKET, KEY COMPANY PROFILES
13.1. GALCO INDUSTRIAL ELECTRONICS
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. INFINEON TECHNOLOGIES AG
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. MICROSEMI (MICROCHIP TECHNOLOGY INC.)
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. MITSUBISHI ELECTRIC 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. MONOLITHIC POWER SYSTEMS, 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. RENESAS ELECTRONICS CORPORATION
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. ROHM SEMICONDUCTOR
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. SOLID STATE DEVICES, INC.
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. STMICROELECTRONICS
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. TEXAS INSTRUMENTS INCORPORATED
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. Galco Industrial Electronics
2. Infineon Technologies AG
3. Microsemi (Microchip Technology Inc.)
4. Mitsubishi Electric Corporation
5. Monolithic Power Systems, Inc.
6. Renesas Electronics Corporation
7. ROHM Semiconductor
8. Solid State Devices, Inc.
9. STMicroelectronics
10. Texas Instruments Incorporated
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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