Proximity Market Size (2021-2031) and Geography
The Proximity Market is expected to register a CAGR of 21.2% 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 Location (Indoor, Outdoor), Technology (Wi-Fi, BLE BEacon, NFC, GPS Geofencing, Others), Hardware (Sensors, RFID, Others), Application ( Retail & E-commerce, Healthcare, Instrumental, Hospitality, BFSI, 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 Proximity 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.
Proximity Market Segmentation
Location- Indoor
- Outdoor
- Wi-Fi
- BLE BEacon
- NFC
- GPS Geofencing
- Sensors
- RFID
- Retail & E-commerce
- Healthcare
- Instrumental
- Hospitality
- BFSI
Strategic Insights
Proximity Market Growth Drivers- Increased Smartphone Usage: The widespread adoption of smartphones and location-based technologies has significantly contributed to the growth of proximity marketing. Smartphones, equipped with GPS and Bluetooth, allow businesses to send personalized offers and promotions to customers based on their real-time location, driving customer engagement and brand loyalty.
- Advances in Beacon Technology: The development of Bluetooth Low Energy (BLE) beacons and other location-based technologies has enabled businesses to deliver highly targeted and contextual marketing messages to consumers within a specific geographic area. Beacons are crucial in proximity marketing, providing more precise data for targeting and improving customer experience.
- Shift Towards Personalization: As consumers demand more personalized shopping experiences, proximity marketing offers an effective way for businesses to deliver customized messages or offers based on the location, preferences, and behavior of individual customers. This personalization increases the effectiveness of marketing campaigns, leading to higher conversion rates and customer satisfaction.
- Integration of Artificial Intelligence (AI) and Machine Learning: AI and machine learning technologies are increasingly being integrated into proximity marketing platforms to analyze consumer behavior and predict customer preferences. By leveraging AI, businesses can send more relevant and timely offers, enhancing customer engagement and improving the overall effectiveness of proximity marketing efforts.
- Adoption of Omnichannel Strategies: Proximity marketing is no longer limited to in-store promotions. Businesses are increasingly adopting omnichannel strategies that integrate proximity marketing with digital touchpoints such as mobile apps, social media, and websites. This cross-platform approach allows brands to create seamless experiences and engage customers across multiple channels.
- Expansion in Retail and Hospitality Sectors: Proximity marketing presents a significant opportunity for businesses in retail and hospitality sectors. By utilizing beacons and location-based services, retailers can enhance the in-store shopping experience, offering personalized promotions, product recommendations, and real-time customer support. In the hospitality industry, proximity marketing can be used to engage guests with tailored experiences, discounts, and local recommendations.
- Increased Use in Event and Venue Marketing: With the rise of large-scale events such as conferences, trade shows, and sports events, proximity marketing presents an opportunity to enhance attendee engagement. Event organizers can use proximity-based technologies to send timely updates, offers, and information to attendees based on their location within the venue, creating a more interactive and personalized event experience.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Proximity 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 Proximity 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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Frequently Asked Questions
Key players in the proximity marketing market include Apple Inc., Google Inc., Microsoft Corporation, Qualcomm Inc., Zebra Technologies Corporation, Bluvision Inc., Estimote Inc., inMarket Media LLC, and Proxama PLC
Some of the customization options available based on the request are an 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
The major factors driving the proximity marketing market are:
1. Increased Smartphone Usage.
2.Advances in Beacon Technology
Integration of Artificial Intelligence (AI) and Machine Learning is likely to remain a key trend in the market.
The proximity marketing market is estimated to witness a CAGR of 21.2% from 2024 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Proximity Marketing Market - By Component
1.3.2 Proximity Marketing Market - By Location
1.3.3 Proximity Marketing Market - By Technology
1.3.4 Proximity Marketing Market - By Application
1.3.5 Proximity Marketing Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PROXIMITY MARKETING 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. PROXIMITY MARKETING 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. PROXIMITY MARKETING MARKET - GLOBAL MARKET ANALYSIS
6.1. PROXIMITY - GLOBAL MARKET OVERVIEW
6.2. PROXIMITY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PROXIMITY MARKETING MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. HARDWARE
7.3.1. Overview
7.3.2. Hardware Market Forecast and Analysis
7.4. SOFTWARE
7.4.1. Overview
7.4.2. Software Market Forecast and Analysis
7.5. SERVICES
7.5.1. Overview
7.5.2. Services Market Forecast and Analysis
8. PROXIMITY MARKETING MARKET - REVENUE AND FORECASTS TO 2028 - LOCATION
8.1. OVERVIEW
8.2. LOCATION MARKET FORECASTS AND ANALYSIS
8.3. INDOOR
8.3.1. Overview
8.3.2. Indoor Market Forecast and Analysis
8.4. OUTDOOR
8.4.1. Overview
8.4.2. Outdoor Market Forecast and Analysis
9. PROXIMITY MARKETING MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
9.1. OVERVIEW
9.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
9.3. WI-FI
9.3.1. Overview
9.3.2. Wi-Fi Market Forecast and Analysis
9.4. NEAR FIELD COMMUNICATION (NFC)
9.4.1. Overview
9.4.2. Near Field Communication (NFC) Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. PROXIMITY MARKETING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
10.1. OVERVIEW
10.2. APPLICATION MARKET FORECASTS AND ANALYSIS
10.3. RETAIL
10.3.1. Overview
10.3.2. Retail Market Forecast and Analysis
10.4. HEALTHCARE
10.4.1. Overview
10.4.2. Healthcare Market Forecast and Analysis
10.5. TRANSPORTATION AND LOGISTICS
10.5.1. Overview
10.5.2. Transportation and Logistics Market Forecast and Analysis
10.6. HOSPITALITY
10.6.1. Overview
10.6.2. Hospitality Market Forecast and Analysis
10.7. OTHERS
10.7.1. Overview
10.7.2. Others Market Forecast and Analysis
11. PROXIMITY MARKETING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Proximity Marketing Market Overview
11.1.2 North America Proximity Marketing Market Forecasts and Analysis
11.1.3 North America Proximity Marketing Market Forecasts and Analysis - By Component
11.1.4 North America Proximity Marketing Market Forecasts and Analysis - By Location
11.1.5 North America Proximity Marketing Market Forecasts and Analysis - By Technology
11.1.6 North America Proximity Marketing Market Forecasts and Analysis - By Application
11.1.7 North America Proximity Marketing Market Forecasts and Analysis - By Countries
11.1.7.1 United States Proximity Marketing Market
11.1.7.1.1 United States Proximity Marketing Market by Component
11.1.7.1.2 United States Proximity Marketing Market by Location
11.1.7.1.3 United States Proximity Marketing Market by Technology
11.1.7.1.4 United States Proximity Marketing Market by Application
11.1.7.2 Canada Proximity Marketing Market
11.1.7.2.1 Canada Proximity Marketing Market by Component
11.1.7.2.2 Canada Proximity Marketing Market by Location
11.1.7.2.3 Canada Proximity Marketing Market by Technology
11.1.7.2.4 Canada Proximity Marketing Market by Application
11.1.7.3 Mexico Proximity Marketing Market
11.1.7.3.1 Mexico Proximity Marketing Market by Component
11.1.7.3.2 Mexico Proximity Marketing Market by Location
11.1.7.3.3 Mexico Proximity Marketing Market by Technology
11.1.7.3.4 Mexico Proximity Marketing Market by Application
11.2. EUROPE
11.2.1 Europe Proximity Marketing Market Overview
11.2.2 Europe Proximity Marketing Market Forecasts and Analysis
11.2.3 Europe Proximity Marketing Market Forecasts and Analysis - By Component
11.2.4 Europe Proximity Marketing Market Forecasts and Analysis - By Location
11.2.5 Europe Proximity Marketing Market Forecasts and Analysis - By Technology
11.2.6 Europe Proximity Marketing Market Forecasts and Analysis - By Application
11.2.7 Europe Proximity Marketing Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Proximity Marketing Market
11.2.7.1.1 Germany Proximity Marketing Market by Component
11.2.7.1.2 Germany Proximity Marketing Market by Location
11.2.7.1.3 Germany Proximity Marketing Market by Technology
11.2.7.1.4 Germany Proximity Marketing Market by Application
11.2.7.2 France Proximity Marketing Market
11.2.7.2.1 France Proximity Marketing Market by Component
11.2.7.2.2 France Proximity Marketing Market by Location
11.2.7.2.3 France Proximity Marketing Market by Technology
11.2.7.2.4 France Proximity Marketing Market by Application
11.2.7.3 Italy Proximity Marketing Market
11.2.7.3.1 Italy Proximity Marketing Market by Component
11.2.7.3.2 Italy Proximity Marketing Market by Location
11.2.7.3.3 Italy Proximity Marketing Market by Technology
11.2.7.3.4 Italy Proximity Marketing Market by Application
11.2.7.4 United Kingdom Proximity Marketing Market
11.2.7.4.1 United Kingdom Proximity Marketing Market by Component
11.2.7.4.2 United Kingdom Proximity Marketing Market by Location
11.2.7.4.3 United Kingdom Proximity Marketing Market by Technology
11.2.7.4.4 United Kingdom Proximity Marketing Market by Application
11.2.7.5 Russia Proximity Marketing Market
11.2.7.5.1 Russia Proximity Marketing Market by Component
11.2.7.5.2 Russia Proximity Marketing Market by Location
11.2.7.5.3 Russia Proximity Marketing Market by Technology
11.2.7.5.4 Russia Proximity Marketing Market by Application
11.2.7.6 Rest of Europe Proximity Marketing Market
11.2.7.6.1 Rest of Europe Proximity Marketing Market by Component
11.2.7.6.2 Rest of Europe Proximity Marketing Market by Location
11.2.7.6.3 Rest of Europe Proximity Marketing Market by Technology
11.2.7.6.4 Rest of Europe Proximity Marketing Market by Application
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Proximity Marketing Market Overview
11.3.2 Asia-Pacific Proximity Marketing Market Forecasts and Analysis
11.3.3 Asia-Pacific Proximity Marketing Market Forecasts and Analysis - By Component
11.3.4 Asia-Pacific Proximity Marketing Market Forecasts and Analysis - By Location
11.3.5 Asia-Pacific Proximity Marketing Market Forecasts and Analysis - By Technology
11.3.6 Asia-Pacific Proximity Marketing Market Forecasts and Analysis - By Application
11.3.7 Asia-Pacific Proximity Marketing Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Proximity Marketing Market
11.3.7.1.1 Australia Proximity Marketing Market by Component
11.3.7.1.2 Australia Proximity Marketing Market by Location
11.3.7.1.3 Australia Proximity Marketing Market by Technology
11.3.7.1.4 Australia Proximity Marketing Market by Application
11.3.7.2 China Proximity Marketing Market
11.3.7.2.1 China Proximity Marketing Market by Component
11.3.7.2.2 China Proximity Marketing Market by Location
11.3.7.2.3 China Proximity Marketing Market by Technology
11.3.7.2.4 China Proximity Marketing Market by Application
11.3.7.3 India Proximity Marketing Market
11.3.7.3.1 India Proximity Marketing Market by Component
11.3.7.3.2 India Proximity Marketing Market by Location
11.3.7.3.3 India Proximity Marketing Market by Technology
11.3.7.3.4 India Proximity Marketing Market by Application
11.3.7.4 Japan Proximity Marketing Market
11.3.7.4.1 Japan Proximity Marketing Market by Component
11.3.7.4.2 Japan Proximity Marketing Market by Location
11.3.7.4.3 Japan Proximity Marketing Market by Technology
11.3.7.4.4 Japan Proximity Marketing Market by Application
11.3.7.5 South Korea Proximity Marketing Market
11.3.7.5.1 South Korea Proximity Marketing Market by Component
11.3.7.5.2 South Korea Proximity Marketing Market by Location
11.3.7.5.3 South Korea Proximity Marketing Market by Technology
11.3.7.5.4 South Korea Proximity Marketing Market by Application
11.3.7.6 Rest of Asia-Pacific Proximity Marketing Market
11.3.7.6.1 Rest of Asia-Pacific Proximity Marketing Market by Component
11.3.7.6.2 Rest of Asia-Pacific Proximity Marketing Market by Location
11.3.7.6.3 Rest of Asia-Pacific Proximity Marketing Market by Technology
11.3.7.6.4 Rest of Asia-Pacific Proximity Marketing Market by Application
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Proximity Marketing Market Overview
11.4.2 Middle East and Africa Proximity Marketing Market Forecasts and Analysis
11.4.3 Middle East and Africa Proximity Marketing Market Forecasts and Analysis - By Component
11.4.4 Middle East and Africa Proximity Marketing Market Forecasts and Analysis - By Location
11.4.5 Middle East and Africa Proximity Marketing Market Forecasts and Analysis - By Technology
11.4.6 Middle East and Africa Proximity Marketing Market Forecasts and Analysis - By Application
11.4.7 Middle East and Africa Proximity Marketing Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Proximity Marketing Market
11.4.7.1.1 South Africa Proximity Marketing Market by Component
11.4.7.1.2 South Africa Proximity Marketing Market by Location
11.4.7.1.3 South Africa Proximity Marketing Market by Technology
11.4.7.1.4 South Africa Proximity Marketing Market by Application
11.4.7.2 Saudi Arabia Proximity Marketing Market
11.4.7.2.1 Saudi Arabia Proximity Marketing Market by Component
11.4.7.2.2 Saudi Arabia Proximity Marketing Market by Location
11.4.7.2.3 Saudi Arabia Proximity Marketing Market by Technology
11.4.7.2.4 Saudi Arabia Proximity Marketing Market by Application
11.4.7.3 U.A.E Proximity Marketing Market
11.4.7.3.1 U.A.E Proximity Marketing Market by Component
11.4.7.3.2 U.A.E Proximity Marketing Market by Location
11.4.7.3.3 U.A.E Proximity Marketing Market by Technology
11.4.7.3.4 U.A.E Proximity Marketing Market by Application
11.4.7.4 Rest of Middle East and Africa Proximity Marketing Market
11.4.7.4.1 Rest of Middle East and Africa Proximity Marketing Market by Component
11.4.7.4.2 Rest of Middle East and Africa Proximity Marketing Market by Location
11.4.7.4.3 Rest of Middle East and Africa Proximity Marketing Market by Technology
11.4.7.4.4 Rest of Middle East and Africa Proximity Marketing Market by Application
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Proximity Marketing Market Overview
11.5.2 South and Central America Proximity Marketing Market Forecasts and Analysis
11.5.3 South and Central America Proximity Marketing Market Forecasts and Analysis - By Component
11.5.4 South and Central America Proximity Marketing Market Forecasts and Analysis - By Location
11.5.5 South and Central America Proximity Marketing Market Forecasts and Analysis - By Technology
11.5.6 South and Central America Proximity Marketing Market Forecasts and Analysis - By Application
11.5.7 South and Central America Proximity Marketing Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Proximity Marketing Market
11.5.7.1.1 Brazil Proximity Marketing Market by Component
11.5.7.1.2 Brazil Proximity Marketing Market by Location
11.5.7.1.3 Brazil Proximity Marketing Market by Technology
11.5.7.1.4 Brazil Proximity Marketing Market by Application
11.5.7.2 Argentina Proximity Marketing Market
11.5.7.2.1 Argentina Proximity Marketing Market by Component
11.5.7.2.2 Argentina Proximity Marketing Market by Location
11.5.7.2.3 Argentina Proximity Marketing Market by Technology
11.5.7.2.4 Argentina Proximity Marketing Market by Application
11.5.7.3 Rest of South and Central America Proximity Marketing Market
11.5.7.3.1 Rest of South and Central America Proximity Marketing Market by Component
11.5.7.3.2 Rest of South and Central America Proximity Marketing Market by Location
11.5.7.3.3 Rest of South and Central America Proximity Marketing Market by Technology
11.5.7.3.4 Rest of South and Central America Proximity Marketing 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. PROXIMITY MARKETING MARKET, KEY COMPANY PROFILES
13.1. APPLE INC.
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. GOOGLE LLC
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. MICROSOFT CORPORATION
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. QUALCOMM INC.
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. ZEBRA TECHNOLOGIES CORPORATION
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. BLUVISION INC.
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. ESTIMOTE INC.
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. ROXIMITY
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. UNACAST
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. PROXAMA PLC
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.Apple Inc.
2.Google LLC
3.Microsoft Corporation
4.Qualcomm Inc.
5.Zebra Technologies Corporation
6.Bluvision Inc.
7.Estimote Inc.
8.ROXIMITY
9.Unacast
10.Proxama PLC
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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