Rooftop PV Systems Market Developments by 2031
The Rooftop PV Systems Market is expected to register a CAGR of 13.4% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Rooftop PV Systems Market covers analysis by Technology, Grid-type, and Geography. The Report Offers the Value in US$ for the above analysis and segments.
Purpose of the ReportThe report Rooftop PV Systems 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.
Rooftop PV Systems Market Segmentation
Technology- Thin Film
- Crystalline Silicon
- Grid Connected
- Off-grid
- Residential
- Commercial
- Industrial
- North America
- Europe
- Asia Pacific
- South and Central America
- North America
- Europe
- Asia Pacific
- South and Central America
Strategic Insights
Rooftop PV Systems Market Growth Drivers- Demand for Renewable Energy Drives Growth: The rooftop photovoltaic systems market is witnessing substantial growth due to the increasing demand for renewable energy sources. With the rising global campaigns to minimize manmade carbon emission levels, numerous countries have turned in favor of solar as an alternate source of energy. This helps the countries in their efforts to provide a solution to environmental sustainability and also favors stakeholders as the opportunity and approach for affordable electricity supply make this rooftop solar PV segment an attractive one for prospective investment and innovation.
- Government Incentives Propel Market Dynamics: Rooftop PV Systems Market dynamics are ruled by government incentives and supportive policies initiated by the government for the welfare of society. Many countries worldwide are introducing aggressive tax benefits, drawbacks, and subsidies to bring solar sense to all. The federal solar tax credit in the US allows people to claim a 26 percent investment tax credit for homeowners for installing a solar panel system. This tax credit scheme applies to all residential as well as commercial applications. Policies like these influence market growth and market forces, increasing market share by creating more affordable and accessible opportunities for Rooftop PV Systems every day.
- Advancements in Solar Panel Technology Boost Adoption: Growth in the rooftop PV systems Market is being driven by advancements in the manufacturing of solar panels and their installation processes. Since the solar panel, which is the main component of a rooftop system, records a noticeable share of the market, improvements in its efficiency were responsible for a significant share of rooftop PV systems Market growth.
- Energy Independence Spurs Consumer Interest: It starts with dynamic energy prices and increasing geopolitical tension. Consequently, more and more consumers and businesses put energy independence in their shopping basket. This is how the Rooftop PV Systems Market dynamics will change in coming years indicating more and more participants looking forward to generating their power. According to the United States Energy Information Administration data (EIA), homeowners can save up to 70 percent of their electricity costs by installing solar panels. This push toward self-sufficiency is set to be a major factor driving the Rooftop PV Systems Market growth over the next few years.
- Energy Storage Systems Enhance PV Appeal: The combination of energy storage systems such as batteries is also increasing the attractiveness of rooftop PV installations. By storing energy created during peak sunlight hours for use later, these systems increase the energy efficiency and reliability of PV. The report of the Rooftop PV Systems Market is growing as the price of batteries is falling, as the research firm BloombergNEF reports that the price of lithium-ion batteries has decreased by 70 percent since 2010. This means that the report on rooftop PV systems holds promise as higher-value combined solutions become available.
- Technological Advancements in Solar Panel Efficiency: Solar technology improvements are enhancing the efficiency of photovoltaic cells, with newer models converting more sunlight into electricity. Innovations such as bifacial solar panels and thin-film technology are increasing energy production even in areas with limited sunlight.
- Decentralized Energy Production Gains Momentum: Today’s Rooftop PV Systems Market is a response to an increasing trend toward the decentralization of energy production. As energy prices continue to rise, consumers are increasingly interested in becoming independent of a centralised electricity grid: not only to save money but also to have a sense of control over their energy consumption. While this surge of interest is much needed in the world’s transition towards renewable energy systems, it is to the advantage of companies that offer modular, scalable solutions as these can satisfy a growing desire for decentralized energy systems, from the rooftop to the home.
- Sustainability Initiatives Increase Commercial Adoption: Due to the sustainable initiatives adopted by businesses, the demand for rooftop PV systems is increasing significantly. A lot of commercial corporations are now opting for renewable energy solutions to meet their corporate social responsibility goals, as well as cutting down on expenditure on utilities. It’s been projected that there will be a significant growth of rooftop PV systems installations on commercial buildings shortly. Companies dealing with customized solar solutions can leverage partnerships and long-term leases and subscriptions with corporations seeking to give their businesses a green makeover.
- Innovative Financing Models Unlock Opportunities: Novel financing options such as solar leases, power purchase agreements (PPAs), and green loans unlock opportunities for the Rooftop PV Systems Market, as solar installations become more affordable for rooftop owners. The market penetration is expected to surge profoundly in coming years primarily because customers can opt for solar installations with lower financial constraints. According to experts’ forecasts, the Rooftop PV Systems Market is expected to see a 30% spike in installations owing to an improved financing scenario. The North American rooftop PV Systems Market is poised for massive sales growth shortly because of financial barriers lowering, in turn cajoling customers to opt for solar technology.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Rooftop PV Systems 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 Rooftop PV Systems 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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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 Rooftop PV Systems Market is expected to register a CAGR of 13.4% from 2023-2031.
The major factors impacting the Rooftop PV Systems Market are: Technological Advancements, Government Incentives and Policies, and Increasing Demand for Renewable Energy
Key future trends in this market are - Surge in renewable energy adoption, Decreased installation costs, Integration with smart grids
Key companies in this market are: Suntech Power Holding Co Ltd, First Solar Inc, Yingli Solar, Sunpower Corporation, Sharp Corporation, JA Solar Holding Company Ltd, Kyocera, Shenzhen Topray Solar Co Ltd, Canadian Solar Inc
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.
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 Rooftop PV Systems Market - By Technology
1.3.2 Rooftop PV Systems Market - By Grid-type
1.3.3 Rooftop PV Systems Market - By End-use
1.3.4 Rooftop PV Systems Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ROOFTOP PV SYSTEMS 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. EXPERT OPINIONS
5. ROOFTOP PV SYSTEMS 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. ROOFTOP PV SYSTEMS MARKET - GLOBAL MARKET ANALYSIS
6.1. ROOFTOP PV SYSTEMS - GLOBAL MARKET OVERVIEW
6.2. ROOFTOP PV SYSTEMS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ROOFTOP PV SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
7.1. OVERVIEW
7.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. THIN FILM
7.3.1. Overview
7.3.2. Thin Film Market Forecast and Analysis
7.4. CRYSTALLINE SILICON
7.4.1. Overview
7.4.2. Crystalline Silicon Market Forecast and Analysis
8. ROOFTOP PV SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - GRID-TYPE
8.1. OVERVIEW
8.2. GRID-TYPE MARKET FORECASTS AND ANALYSIS
8.3. GRID CONNECTED
8.3.1. Overview
8.3.2. Grid Connected Market Forecast and Analysis
8.4. OFF-GRID
8.4.1. Overview
8.4.2. Off-grid Market Forecast and Analysis
9. ROOFTOP PV SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - END-USE
9.1. OVERVIEW
9.2. END-USE MARKET FORECASTS AND ANALYSIS
9.3. RESIDENTIAL
9.3.1. Overview
9.3.2. Residential Market Forecast and Analysis
9.4. COMMERCIAL
9.4.1. Overview
9.4.2. Commercial Market Forecast and Analysis
9.5. INDUSTRIAL
9.5.1. Overview
9.5.2. Industrial Market Forecast and Analysis
10. ROOFTOP PV SYSTEMS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Rooftop PV Systems Market Overview
10.1.2 North America Rooftop PV Systems Market Forecasts and Analysis
10.1.3 North America Rooftop PV Systems Market Forecasts and Analysis - By Technology
10.1.4 North America Rooftop PV Systems Market Forecasts and Analysis - By Grid-type
10.1.5 North America Rooftop PV Systems Market Forecasts and Analysis - By End-use
10.1.6 North America Rooftop PV Systems Market Forecasts and Analysis - By Countries
10.1.6.1 United States Rooftop PV Systems Market
10.1.6.1.1 United States Rooftop PV Systems Market by Technology
10.1.6.1.2 United States Rooftop PV Systems Market by Grid-type
10.1.6.1.3 United States Rooftop PV Systems Market by End-use
10.1.6.2 Canada Rooftop PV Systems Market
10.1.6.2.1 Canada Rooftop PV Systems Market by Technology
10.1.6.2.2 Canada Rooftop PV Systems Market by Grid-type
10.1.6.2.3 Canada Rooftop PV Systems Market by End-use
10.1.6.3 Mexico Rooftop PV Systems Market
10.1.6.3.1 Mexico Rooftop PV Systems Market by Technology
10.1.6.3.2 Mexico Rooftop PV Systems Market by Grid-type
10.1.6.3.3 Mexico Rooftop PV Systems Market by End-use
10.2. EUROPE
10.2.1 Europe Rooftop PV Systems Market Overview
10.2.2 Europe Rooftop PV Systems Market Forecasts and Analysis
10.2.3 Europe Rooftop PV Systems Market Forecasts and Analysis - By Technology
10.2.4 Europe Rooftop PV Systems Market Forecasts and Analysis - By Grid-type
10.2.5 Europe Rooftop PV Systems Market Forecasts and Analysis - By End-use
10.2.6 Europe Rooftop PV Systems Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Rooftop PV Systems Market
10.2.6.1.1 Germany Rooftop PV Systems Market by Technology
10.2.6.1.2 Germany Rooftop PV Systems Market by Grid-type
10.2.6.1.3 Germany Rooftop PV Systems Market by End-use
10.2.6.2 France Rooftop PV Systems Market
10.2.6.2.1 France Rooftop PV Systems Market by Technology
10.2.6.2.2 France Rooftop PV Systems Market by Grid-type
10.2.6.2.3 France Rooftop PV Systems Market by End-use
10.2.6.3 Italy Rooftop PV Systems Market
10.2.6.3.1 Italy Rooftop PV Systems Market by Technology
10.2.6.3.2 Italy Rooftop PV Systems Market by Grid-type
10.2.6.3.3 Italy Rooftop PV Systems Market by End-use
10.2.6.4 United Kingdom Rooftop PV Systems Market
10.2.6.4.1 United Kingdom Rooftop PV Systems Market by Technology
10.2.6.4.2 United Kingdom Rooftop PV Systems Market by Grid-type
10.2.6.4.3 United Kingdom Rooftop PV Systems Market by End-use
10.2.6.5 Russia Rooftop PV Systems Market
10.2.6.5.1 Russia Rooftop PV Systems Market by Technology
10.2.6.5.2 Russia Rooftop PV Systems Market by Grid-type
10.2.6.5.3 Russia Rooftop PV Systems Market by End-use
10.2.6.6 Rest of Europe Rooftop PV Systems Market
10.2.6.6.1 Rest of Europe Rooftop PV Systems Market by Technology
10.2.6.6.2 Rest of Europe Rooftop PV Systems Market by Grid-type
10.2.6.6.3 Rest of Europe Rooftop PV Systems Market by End-use
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Rooftop PV Systems Market Overview
10.3.2 Asia-Pacific Rooftop PV Systems Market Forecasts and Analysis
10.3.3 Asia-Pacific Rooftop PV Systems Market Forecasts and Analysis - By Technology
10.3.4 Asia-Pacific Rooftop PV Systems Market Forecasts and Analysis - By Grid-type
10.3.5 Asia-Pacific Rooftop PV Systems Market Forecasts and Analysis - By End-use
10.3.6 Asia-Pacific Rooftop PV Systems Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Rooftop PV Systems Market
10.3.6.1.1 Australia Rooftop PV Systems Market by Technology
10.3.6.1.2 Australia Rooftop PV Systems Market by Grid-type
10.3.6.1.3 Australia Rooftop PV Systems Market by End-use
10.3.6.2 China Rooftop PV Systems Market
10.3.6.2.1 China Rooftop PV Systems Market by Technology
10.3.6.2.2 China Rooftop PV Systems Market by Grid-type
10.3.6.2.3 China Rooftop PV Systems Market by End-use
10.3.6.3 India Rooftop PV Systems Market
10.3.6.3.1 India Rooftop PV Systems Market by Technology
10.3.6.3.2 India Rooftop PV Systems Market by Grid-type
10.3.6.3.3 India Rooftop PV Systems Market by End-use
10.3.6.4 Japan Rooftop PV Systems Market
10.3.6.4.1 Japan Rooftop PV Systems Market by Technology
10.3.6.4.2 Japan Rooftop PV Systems Market by Grid-type
10.3.6.4.3 Japan Rooftop PV Systems Market by End-use
10.3.6.5 South Korea Rooftop PV Systems Market
10.3.6.5.1 South Korea Rooftop PV Systems Market by Technology
10.3.6.5.2 South Korea Rooftop PV Systems Market by Grid-type
10.3.6.5.3 South Korea Rooftop PV Systems Market by End-use
10.3.6.6 Rest of Asia-Pacific Rooftop PV Systems Market
10.3.6.6.1 Rest of Asia-Pacific Rooftop PV Systems Market by Technology
10.3.6.6.2 Rest of Asia-Pacific Rooftop PV Systems Market by Grid-type
10.3.6.6.3 Rest of Asia-Pacific Rooftop PV Systems Market by End-use
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Rooftop PV Systems Market Overview
10.4.2 Middle East and Africa Rooftop PV Systems Market Forecasts and Analysis
10.4.3 Middle East and Africa Rooftop PV Systems Market Forecasts and Analysis - By Technology
10.4.4 Middle East and Africa Rooftop PV Systems Market Forecasts and Analysis - By Grid-type
10.4.5 Middle East and Africa Rooftop PV Systems Market Forecasts and Analysis - By End-use
10.4.6 Middle East and Africa Rooftop PV Systems Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Rooftop PV Systems Market
10.4.6.1.1 South Africa Rooftop PV Systems Market by Technology
10.4.6.1.2 South Africa Rooftop PV Systems Market by Grid-type
10.4.6.1.3 South Africa Rooftop PV Systems Market by End-use
10.4.6.2 Saudi Arabia Rooftop PV Systems Market
10.4.6.2.1 Saudi Arabia Rooftop PV Systems Market by Technology
10.4.6.2.2 Saudi Arabia Rooftop PV Systems Market by Grid-type
10.4.6.2.3 Saudi Arabia Rooftop PV Systems Market by End-use
10.4.6.3 U.A.E Rooftop PV Systems Market
10.4.6.3.1 U.A.E Rooftop PV Systems Market by Technology
10.4.6.3.2 U.A.E Rooftop PV Systems Market by Grid-type
10.4.6.3.3 U.A.E Rooftop PV Systems Market by End-use
10.4.6.4 Rest of Middle East and Africa Rooftop PV Systems Market
10.4.6.4.1 Rest of Middle East and Africa Rooftop PV Systems Market by Technology
10.4.6.4.2 Rest of Middle East and Africa Rooftop PV Systems Market by Grid-type
10.4.6.4.3 Rest of Middle East and Africa Rooftop PV Systems Market by End-use
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Rooftop PV Systems Market Overview
10.5.2 South and Central America Rooftop PV Systems Market Forecasts and Analysis
10.5.3 South and Central America Rooftop PV Systems Market Forecasts and Analysis - By Technology
10.5.4 South and Central America Rooftop PV Systems Market Forecasts and Analysis - By Grid-type
10.5.5 South and Central America Rooftop PV Systems Market Forecasts and Analysis - By End-use
10.5.6 South and Central America Rooftop PV Systems Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Rooftop PV Systems Market
10.5.6.1.1 Brazil Rooftop PV Systems Market by Technology
10.5.6.1.2 Brazil Rooftop PV Systems Market by Grid-type
10.5.6.1.3 Brazil Rooftop PV Systems Market by End-use
10.5.6.2 Argentina Rooftop PV Systems Market
10.5.6.2.1 Argentina Rooftop PV Systems Market by Technology
10.5.6.2.2 Argentina Rooftop PV Systems Market by Grid-type
10.5.6.2.3 Argentina Rooftop PV Systems Market by End-use
10.5.6.3 Rest of South and Central America Rooftop PV Systems Market
10.5.6.3.1 Rest of South and Central America Rooftop PV Systems Market by Technology
10.5.6.3.2 Rest of South and Central America Rooftop PV Systems Market by Grid-type
10.5.6.3.3 Rest of South and Central America Rooftop PV Systems Market by End-use
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. ROOFTOP PV SYSTEMS MARKET, KEY COMPANY PROFILES
12.1. SUNTECH POWER HOLDING CO. LTD
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. FIRST SOLAR INC.
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. YINGLI SOLAR
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. SUNPOWER CORPORATION
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. SHARP CORPORATION
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. JA SOLAR HOLDING COMPANY LTD.
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. KYOCERA
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. SHENZHEN TOPRAY SOLAR CO. LTD.
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. CANADIAN SOLAR INC.
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. WUXI SUNTECH POWER CO. LTD
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List Of Companies
- Suntech Power Holding Co. Ltd
- First Solar Inc.
- Yingli Solar
- Sunpower Corporation
- Sharp Corporation
- JA Solar Holding Company Ltd.
- Kyocera
- Shenzhen Topray Solar Co. Ltd.
- Canadian Solar Inc.
- Wuxi Suntech Power Co. 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.
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