Rapid Test (Services) Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
The rapid test is used as a tool for food companies to validate and verify the efficacy of their food product. The rapid test helps in the detection of foodborne pathogens and toxins. It comprises the testing of food products for several contaminants such as pesticides, meat speciation, heavy metals, allergens, pathogens, mycotoxins, GMOs, and others. Rapid test methods are less time consuming than conventional methods used to detect the foodborne pathogen.
MARKET SCOPE
The "Global Rapid Test (Services) Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the rapid test (services) market with detailed market segmentation by contaminant, technology, food tested, and geography. The report provides key statistics on the market status of the leading rapid test (services) market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on contaminant, the market is segmented into pathogens, meat speciation, GMOS, allergens, pesticides, mycotoxins, heavy metals and others.
- On the basis of the technology the market is segmented into PCR-based, immunoassay-based, chromatography-based and spectroscopy-based.
- On the basis of the food tested the market is segmented into meat & seafood products, dairy products, processed food, fruits & vegetables, cereals & grains, nuts, seeds, and spices, crops and others.
MARKET DYNAMICS
Drivers:
- Increasing the number of foodborne disease across the globe
- Growth in demand for faster and reliable test results in the food and beverage industry
- Increasing awareness among consumers about food safety worldwide
- Active measure taken by the government and regulatory bodies for food safety
Restraints:
- High cost of instruments
- Lack of skilled professionals
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The rapid test (services) market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the rapid test (services) market in these regions.
IMPACT OF COVID-19 ON RAPID TEST (SERVICES) MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
![World Geography](https://www.theinsightpartners.com/assets/rdimages/world-geography.png)
Have a question?
![Analyst](https://www.theinsightpartners.com/assets/mrinal_kerhalkar.jpg)
Mrinal
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
![Analyst](https://www.theinsightpartners.com/assets/images/speak_analyst.gif)
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The rapid test (services) market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the rapid test (services) market in these regions.
IMPACT OF COVID-19 ON RAPID TEST (SERVICES) MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the rapid test (services) market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere F5acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from rapid test (services) market are anticipated to lucrative growth opportunities in the future with the rising demand for rapid test (services) in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the rapid test (services) market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ALS Limited
- AsureQuality Limited
- Bureau Veritas S. A.
- Eurofins Scientific
- Genetic ID Inc.
- Intertek Group plc
- Merieux NutriSciences
- Microbac Laboratories, Inc.
- SGS SA
- TUV SUD South Asia Pvt. Ltd.
- 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](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
This text is related
to segments covered.
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Rapid Test (Services) Market - By Contaminant
1.3.2 Rapid Test (Services) Market - By Technology
1.3.3 Rapid Test (Services) Market - By Food Tested
1.3.4 Rapid Test (Services) Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. RAPID TEST (SERVICES) MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. RAPID TEST (SERVICES) 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. RAPID TEST (SERVICES) MARKET - GLOBAL MARKET ANALYSIS
6.1. RAPID TEST (SERVICES) - GLOBAL MARKET OVERVIEW
6.2. RAPID TEST (SERVICES) - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. RAPID TEST (SERVICES) MARKET - REVENUE AND FORECASTS TO 2028 - CONTAMINANT
7.1. OVERVIEW
7.2. CONTAMINANT MARKET FORECASTS AND ANALYSIS
7.3. PATHOGENS
7.3.1. Overview
7.3.2. Pathogens Market Forecast and Analysis
7.4. MEAT SPECIATION
7.4.1. Overview
7.4.2. Meat Speciation Market Forecast and Analysis
7.5. GMOS
7.5.1. Overview
7.5.2. GMOS Market Forecast and Analysis
7.6. ALLERGENS
7.6.1. Overview
7.6.2. Allergens Market Forecast and Analysis
7.7. PESTICIDES
7.7.1. Overview
7.7.2. Pesticides Market Forecast and Analysis
7.8. MYCOTOXINS
7.8.1. Overview
7.8.2. Mycotoxins Market Forecast and Analysis
7.9. HEAVY METALS
7.9.1. Overview
7.9.2. Heavy Metals Market Forecast and Analysis
7.10. OTHERS
7.10.1. Overview
7.10.2. Others Market Forecast and Analysis
8. RAPID TEST (SERVICES) MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. PCR-BASED
8.3.1. Overview
8.3.2. PCR-Based Market Forecast and Analysis
8.4. IMMUNOASSAY-BASED
8.4.1. Overview
8.4.2. Immunoassay-Based Market Forecast and Analysis
8.5. CHROMATOGRAPHY-BASED
8.5.1. Overview
8.5.2. Chromatography-Based Market Forecast and Analysis
8.6. SPECTROSCOPY-BASED
8.6.1. Overview
8.6.2. Spectroscopy-Based Market Forecast and Analysis
9. RAPID TEST (SERVICES) MARKET - REVENUE AND FORECASTS TO 2028 - FOOD TESTED
9.1. OVERVIEW
9.2. FOOD TESTED MARKET FORECASTS AND ANALYSIS
9.3. MEAT AND SEAFOOD PRODUCTS
9.3.1. Overview
9.3.2. Meat and Seafood Products Market Forecast and Analysis
9.4. DAIRY PRODUCTS
9.4.1. Overview
9.4.2. Dairy Products Market Forecast and Analysis
9.5. PROCESSED FOOD
9.5.1. Overview
9.5.2. Processed Food Market Forecast and Analysis
9.6. FRUITS AND VEGETABLES
9.6.1. Overview
9.6.2. Fruits and Vegetables Market Forecast and Analysis
9.7. CEREALS AND GRAINS
9.7.1. Overview
9.7.2. Cereals and Grains Market Forecast and Analysis
9.8. NUTS SEEDS AND SPICES
9.8.1. Overview
9.8.2. Nuts Seeds and Spices Market Forecast and Analysis
9.9. CROPS
9.9.1. Overview
9.9.2. Crops Market Forecast and Analysis
9.10. OTHERS
9.10.1. Overview
9.10.2. Others Market Forecast and Analysis
10. RAPID TEST (SERVICES) MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Rapid Test (Services) Market Overview
10.1.2 North America Rapid Test (Services) Market Forecasts and Analysis
10.1.3 North America Rapid Test (Services) Market Forecasts and Analysis - By Contaminant
10.1.4 North America Rapid Test (Services) Market Forecasts and Analysis - By Technology
10.1.5 North America Rapid Test (Services) Market Forecasts and Analysis - By Food Tested
10.1.6 North America Rapid Test (Services) Market Forecasts and Analysis - By Countries
10.1.6.1 United States Rapid Test (Services) Market
10.1.6.1.1 United States Rapid Test (Services) Market by Contaminant
10.1.6.1.2 United States Rapid Test (Services) Market by Technology
10.1.6.1.3 United States Rapid Test (Services) Market by Food Tested
10.1.6.2 Canada Rapid Test (Services) Market
10.1.6.2.1 Canada Rapid Test (Services) Market by Contaminant
10.1.6.2.2 Canada Rapid Test (Services) Market by Technology
10.1.6.2.3 Canada Rapid Test (Services) Market by Food Tested
10.1.6.3 Mexico Rapid Test (Services) Market
10.1.6.3.1 Mexico Rapid Test (Services) Market by Contaminant
10.1.6.3.2 Mexico Rapid Test (Services) Market by Technology
10.1.6.3.3 Mexico Rapid Test (Services) Market by Food Tested
10.2. EUROPE
10.2.1 Europe Rapid Test (Services) Market Overview
10.2.2 Europe Rapid Test (Services) Market Forecasts and Analysis
10.2.3 Europe Rapid Test (Services) Market Forecasts and Analysis - By Contaminant
10.2.4 Europe Rapid Test (Services) Market Forecasts and Analysis - By Technology
10.2.5 Europe Rapid Test (Services) Market Forecasts and Analysis - By Food Tested
10.2.6 Europe Rapid Test (Services) Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Rapid Test (Services) Market
10.2.6.1.1 Germany Rapid Test (Services) Market by Contaminant
10.2.6.1.2 Germany Rapid Test (Services) Market by Technology
10.2.6.1.3 Germany Rapid Test (Services) Market by Food Tested
10.2.6.2 France Rapid Test (Services) Market
10.2.6.2.1 France Rapid Test (Services) Market by Contaminant
10.2.6.2.2 France Rapid Test (Services) Market by Technology
10.2.6.2.3 France Rapid Test (Services) Market by Food Tested
10.2.6.3 Italy Rapid Test (Services) Market
10.2.6.3.1 Italy Rapid Test (Services) Market by Contaminant
10.2.6.3.2 Italy Rapid Test (Services) Market by Technology
10.2.6.3.3 Italy Rapid Test (Services) Market by Food Tested
10.2.6.4 Spain Rapid Test (Services) Market
10.2.6.4.1 Spain Rapid Test (Services) Market by Contaminant
10.2.6.4.2 Spain Rapid Test (Services) Market by Technology
10.2.6.4.3 Spain Rapid Test (Services) Market by Food Tested
10.2.6.5 United Kingdom Rapid Test (Services) Market
10.2.6.5.1 United Kingdom Rapid Test (Services) Market by Contaminant
10.2.6.5.2 United Kingdom Rapid Test (Services) Market by Technology
10.2.6.5.3 United Kingdom Rapid Test (Services) Market by Food Tested
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Rapid Test (Services) Market Overview
10.3.2 Asia-Pacific Rapid Test (Services) Market Forecasts and Analysis
10.3.3 Asia-Pacific Rapid Test (Services) Market Forecasts and Analysis - By Contaminant
10.3.4 Asia-Pacific Rapid Test (Services) Market Forecasts and Analysis - By Technology
10.3.5 Asia-Pacific Rapid Test (Services) Market Forecasts and Analysis - By Food Tested
10.3.6 Asia-Pacific Rapid Test (Services) Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Rapid Test (Services) Market
10.3.6.1.1 Australia Rapid Test (Services) Market by Contaminant
10.3.6.1.2 Australia Rapid Test (Services) Market by Technology
10.3.6.1.3 Australia Rapid Test (Services) Market by Food Tested
10.3.6.2 China Rapid Test (Services) Market
10.3.6.2.1 China Rapid Test (Services) Market by Contaminant
10.3.6.2.2 China Rapid Test (Services) Market by Technology
10.3.6.2.3 China Rapid Test (Services) Market by Food Tested
10.3.6.3 India Rapid Test (Services) Market
10.3.6.3.1 India Rapid Test (Services) Market by Contaminant
10.3.6.3.2 India Rapid Test (Services) Market by Technology
10.3.6.3.3 India Rapid Test (Services) Market by Food Tested
10.3.6.4 Japan Rapid Test (Services) Market
10.3.6.4.1 Japan Rapid Test (Services) Market by Contaminant
10.3.6.4.2 Japan Rapid Test (Services) Market by Technology
10.3.6.4.3 Japan Rapid Test (Services) Market by Food Tested
10.3.6.5 South Korea Rapid Test (Services) Market
10.3.6.5.1 South Korea Rapid Test (Services) Market by Contaminant
10.3.6.5.2 South Korea Rapid Test (Services) Market by Technology
10.3.6.5.3 South Korea Rapid Test (Services) Market by Food Tested
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Rapid Test (Services) Market Overview
10.4.2 Middle East and Africa Rapid Test (Services) Market Forecasts and Analysis
10.4.3 Middle East and Africa Rapid Test (Services) Market Forecasts and Analysis - By Contaminant
10.4.4 Middle East and Africa Rapid Test (Services) Market Forecasts and Analysis - By Technology
10.4.5 Middle East and Africa Rapid Test (Services) Market Forecasts and Analysis - By Food Tested
10.4.6 Middle East and Africa Rapid Test (Services) Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Rapid Test (Services) Market
10.4.6.1.1 South Africa Rapid Test (Services) Market by Contaminant
10.4.6.1.2 South Africa Rapid Test (Services) Market by Technology
10.4.6.1.3 South Africa Rapid Test (Services) Market by Food Tested
10.4.6.2 Saudi Arabia Rapid Test (Services) Market
10.4.6.2.1 Saudi Arabia Rapid Test (Services) Market by Contaminant
10.4.6.2.2 Saudi Arabia Rapid Test (Services) Market by Technology
10.4.6.2.3 Saudi Arabia Rapid Test (Services) Market by Food Tested
10.4.6.3 U.A.E Rapid Test (Services) Market
10.4.6.3.1 U.A.E Rapid Test (Services) Market by Contaminant
10.4.6.3.2 U.A.E Rapid Test (Services) Market by Technology
10.4.6.3.3 U.A.E Rapid Test (Services) Market by Food Tested
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Rapid Test (Services) Market Overview
10.5.2 South and Central America Rapid Test (Services) Market Forecasts and Analysis
10.5.3 South and Central America Rapid Test (Services) Market Forecasts and Analysis - By Contaminant
10.5.4 South and Central America Rapid Test (Services) Market Forecasts and Analysis - By Technology
10.5.5 South and Central America Rapid Test (Services) Market Forecasts and Analysis - By Food Tested
10.5.6 South and Central America Rapid Test (Services) Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Rapid Test (Services) Market
10.5.6.1.1 Brazil Rapid Test (Services) Market by Contaminant
10.5.6.1.2 Brazil Rapid Test (Services) Market by Technology
10.5.6.1.3 Brazil Rapid Test (Services) Market by Food Tested
10.5.6.2 Argentina Rapid Test (Services) Market
10.5.6.2.1 Argentina Rapid Test (Services) Market by Contaminant
10.5.6.2.2 Argentina Rapid Test (Services) Market by Technology
10.5.6.2.3 Argentina Rapid Test (Services) Market by Food Tested
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL RAPID TEST (SERVICES) MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. RAPID TEST (SERVICES) MARKET, KEY COMPANY PROFILES
13.1. ALS LIMITED
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. ASUREQUALITY LIMITED
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. BUREAU VERITAS S. A.
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. EUROFINS SCIENTIFIC
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. GENETIC ID 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. INTERTEK GROUP PLC
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. MERIEUX NUTRISCIENCES
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. MICROBAC LABORATORIES, 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. SGS SA
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. TUV SUD SOUTH ASIA PVT. LTD.
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. ALS Limited
2. AsureQuality Limited
3. Bureau Veritas S. A.
4. Eurofins Scientific
5. Genetic ID Inc.
6. Intertek Group plc
7. Merieux NutriSciences
8. Microbac Laboratories, Inc.
9. SGS SA
10. TUV SUD South Asia Pvt. Ltd.
11. Romer Labs
12. OMIC USA
13. Abbott Laboratories
14. Danaher Corporation
15. Veredus Laboratories Pte Ltd
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.