Smart Cards in Healthcare Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
The smart card is a type of credit/debit card that is embedded with an integrated circuit (IC) chip. These chips facilitate functionality to be added to the card, making an ordinary, plastic card into SMART. It performs various functions such as calculating, storing, managing, processing data and holding vital information. Smart cards are considered safer than magnetic strip cards and use encrypted algorithms for data management. Smart cards have broad applications such as to handle sensitive information such as finances, identity, and personal health information. The smart card reduces paperwork as well as improves storage capacity and record-keeping process. Smart cards are also used in health care services, telecommunications, banking and financial corporations, and many more. Smart cards in healthcare provide security and confidentiality of patient data, maintain accurate patient identification at various facilities and geographies, enable secure access to emergency medical information, easy bill payment using the card for a financial transaction, and reduce health care fraud.
MARKET SCOPE
The "Global Smart Cards in Healthcare Market Analysis to 2031" 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 smart cards in healthcare market with detailed market segmentation by type, component, application and geography. The report provides key statistics on the market status of the leading smart cards in healthcare market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global smart cards in healthcare market is segmented into contactless smart cards, contact-based smart cards, dual-interface smart cards and hybrid smart cards.
- Based on component, the market is segmented into memory card-based smart cards and microcontroller-based smart cards.
- On the basis of application, the market is bifurcated into personal identity, patient history, billing and payment and security.
MARKET DYNAMICS
Drivers:
- Rising demand for better patient data management systems and rising inclination towards electronic data management approaches drive the growth of smart cards in the healthcare market.
- Growing research and development activities by key players to develop new products boost market growth.
- Strategic collaboration to develop advanced smart card technology and rising awareness among people about the benefits of smart cards propel the market growth.
- Growing government initiatives in the implementation of smart cards in the healthcare system fuel growth of the market.
Restraints:
- High cost of initial implementation in the healthcare sector.
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 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart cards in healthcare 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 market during 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 smart cards in healthcare market in these regions.
IMPACT OF COVID-19 ON SMART CARDS IN HEALTHCARE 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, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 pandemic significantly impacted the healthcare industry, along with which the effect was observed in the healthcare IT industry too. Smart card market players experienced a decline in sales growth owing to the factors such as worldwide lockdown, business shutdown, and supply chain disruptions, and so on. However, the market is likely to witness growth in the future due to the increasing demand for contactless smart cards and increasing government initiatives to adopt smart cards in healthcare systems to manage healthcare data efficiently.
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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
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 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart cards in healthcare 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 market during 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 smart cards in healthcare market in these regions.
IMPACT OF COVID-19 ON SMART CARDS IN HEALTHCARE 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, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 pandemic significantly impacted the healthcare industry, along with which the effect was observed in the healthcare IT industry too. Smart card market players experienced a decline in sales growth owing to the factors such as worldwide lockdown, business shutdown, and supply chain disruptions, and so on. However, the market is likely to witness growth in the future due to the increasing demand for contactless smart cards and increasing government initiatives to adopt smart cards in healthcare systems to manage healthcare data efficiently.
MARKET PLAYERS
The report covers key developments in the smart cards in healthcare 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 market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from smart cards in healthcare market are anticipated to have lucrative growth opportunities in the future with the rising demand for smart cards in healthcare in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the smart cards in healthcare 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.
- American Express Company
- CardLogix Corporation
- Atos SE
- Giesecke & Devrient
- Thales Group
- Infineon Technologies AG
- Oberthur Technologies SA (Idemia)
- SCM Microsystems
- VeriFone Holdings
- IDenticard Systems
- 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
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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 Smart Cards In Healthcare Market - By Type
1.3.2 Smart Cards In Healthcare Market - By Component
1.3.3 Smart Cards In Healthcare Market - By Application
1.3.4 Smart Cards In Healthcare Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SMART CARDS IN HEALTHCARE 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. SMART CARDS IN HEALTHCARE 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. SMART CARDS IN HEALTHCARE MARKET - GLOBAL MARKET ANALYSIS
6.1. SMART CARDS IN HEALTHCARE - GLOBAL MARKET OVERVIEW
6.2. SMART CARDS IN HEALTHCARE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. SMART CARDS IN HEALTHCARE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. CONTACTLESS SMART CARDS
7.3.1. Overview
7.3.2. Contactless Smart Cards Market Forecast and Analysis
7.4. CONTACT-BASED SMART CARDS
7.4.1. Overview
7.4.2. Contact-Based Smart Cards Market Forecast and Analysis
7.5. DUAL-INTERFACE SMART CARDS
7.5.1. Overview
7.5.2. Dual-Interface Smart Cards Market Forecast and Analysis
7.6. HYBRID SMART CARDS
7.6.1. Overview
7.6.2. Hybrid Smart Cards Market Forecast and Analysis
8. SMART CARDS IN HEALTHCARE MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
8.1. OVERVIEW
8.2. COMPONENT MARKET FORECASTS AND ANALYSIS
8.3. MEMORY CARD-BASED SMART CARDS
8.3.1. Overview
8.3.2. Memory Card-Based Smart Cards Market Forecast and Analysis
8.4. MICROCONTROLLER-BASED SMART CARDS
8.4.1. Overview
8.4.2. Microcontroller-Based Smart Cards Market Forecast and Analysis
9. SMART CARDS IN HEALTHCARE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. PERSONAL IDENTITY
9.3.1. Overview
9.3.2. Personal Identity Market Forecast and Analysis
9.4. PATIENT HISTORY
9.4.1. Overview
9.4.2. Patient History Market Forecast and Analysis
9.5. BILLING AND PAYMENT
9.5.1. Overview
9.5.2. Billing and Payment Market Forecast and Analysis
9.6. SECURITY
9.6.1. Overview
9.6.2. Security Market Forecast and Analysis
10. SMART CARDS IN HEALTHCARE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Smart Cards In Healthcare Market Overview
10.1.2 North America Smart Cards In Healthcare Market Forecasts and Analysis
10.1.3 North America Smart Cards In Healthcare Market Forecasts and Analysis - By Type
10.1.4 North America Smart Cards In Healthcare Market Forecasts and Analysis - By Component
10.1.5 North America Smart Cards In Healthcare Market Forecasts and Analysis - By Application
10.1.6 North America Smart Cards In Healthcare Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Smart Cards In Healthcare Market
10.1.6.1.1 Canada Smart Cards In Healthcare Market by Type
10.1.6.1.2 Canada Smart Cards In Healthcare Market by Component
10.1.6.1.3 Canada Smart Cards In Healthcare Market by Application
10.1.6.2 Mexico Smart Cards In Healthcare Market
10.1.6.2.1 Mexico Smart Cards In Healthcare Market by Type
10.1.6.2.2 Mexico Smart Cards In Healthcare Market by Component
10.1.6.2.3 Mexico Smart Cards In Healthcare Market by Application
10.1.6.3 US Smart Cards In Healthcare Market
10.1.6.3.1 US Smart Cards In Healthcare Market by Type
10.1.6.3.2 US Smart Cards In Healthcare Market by Component
10.1.6.3.3 US Smart Cards In Healthcare Market by Application
10.2. EUROPE
10.2.1 Europe Smart Cards In Healthcare Market Overview
10.2.2 Europe Smart Cards In Healthcare Market Forecasts and Analysis
10.2.3 Europe Smart Cards In Healthcare Market Forecasts and Analysis - By Type
10.2.4 Europe Smart Cards In Healthcare Market Forecasts and Analysis - By Component
10.2.5 Europe Smart Cards In Healthcare Market Forecasts and Analysis - By Application
10.2.6 Europe Smart Cards In Healthcare Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Smart Cards In Healthcare Market
10.2.6.1.1 Germany Smart Cards In Healthcare Market by Type
10.2.6.1.2 Germany Smart Cards In Healthcare Market by Component
10.2.6.1.3 Germany Smart Cards In Healthcare Market by Application
10.2.6.2 France Smart Cards In Healthcare Market
10.2.6.2.1 France Smart Cards In Healthcare Market by Type
10.2.6.2.2 France Smart Cards In Healthcare Market by Component
10.2.6.2.3 France Smart Cards In Healthcare Market by Application
10.2.6.3 Italy Smart Cards In Healthcare Market
10.2.6.3.1 Italy Smart Cards In Healthcare Market by Type
10.2.6.3.2 Italy Smart Cards In Healthcare Market by Component
10.2.6.3.3 Italy Smart Cards In Healthcare Market by Application
10.2.6.4 Spain Smart Cards In Healthcare Market
10.2.6.4.1 Spain Smart Cards In Healthcare Market by Type
10.2.6.4.2 Spain Smart Cards In Healthcare Market by Component
10.2.6.4.3 Spain Smart Cards In Healthcare Market by Application
10.2.6.5 United Kingdom Smart Cards In Healthcare Market
10.2.6.5.1 United Kingdom Smart Cards In Healthcare Market by Type
10.2.6.5.2 United Kingdom Smart Cards In Healthcare Market by Component
10.2.6.5.3 United Kingdom Smart Cards In Healthcare Market by Application
10.2.6.6 Rest of Europe Smart Cards In Healthcare Market
10.2.6.6.1 Rest of Europe Smart Cards In Healthcare Market by Type
10.2.6.6.2 Rest of Europe Smart Cards In Healthcare Market by Component
10.2.6.6.3 Rest of Europe Smart Cards In Healthcare Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Smart Cards In Healthcare Market Overview
10.3.2 Asia-Pacific Smart Cards In Healthcare Market Forecasts and Analysis
10.3.3 Asia-Pacific Smart Cards In Healthcare Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Smart Cards In Healthcare Market Forecasts and Analysis - By Component
10.3.5 Asia-Pacific Smart Cards In Healthcare Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Smart Cards In Healthcare Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Smart Cards In Healthcare Market
10.3.6.1.1 Australia Smart Cards In Healthcare Market by Type
10.3.6.1.2 Australia Smart Cards In Healthcare Market by Component
10.3.6.1.3 Australia Smart Cards In Healthcare Market by Application
10.3.6.2 China Smart Cards In Healthcare Market
10.3.6.2.1 China Smart Cards In Healthcare Market by Type
10.3.6.2.2 China Smart Cards In Healthcare Market by Component
10.3.6.2.3 China Smart Cards In Healthcare Market by Application
10.3.6.3 India Smart Cards In Healthcare Market
10.3.6.3.1 India Smart Cards In Healthcare Market by Type
10.3.6.3.2 India Smart Cards In Healthcare Market by Component
10.3.6.3.3 India Smart Cards In Healthcare Market by Application
10.3.6.4 Japan Smart Cards In Healthcare Market
10.3.6.4.1 Japan Smart Cards In Healthcare Market by Type
10.3.6.4.2 Japan Smart Cards In Healthcare Market by Component
10.3.6.4.3 Japan Smart Cards In Healthcare Market by Application
10.3.6.5 South Korea Smart Cards In Healthcare Market
10.3.6.5.1 South Korea Smart Cards In Healthcare Market by Type
10.3.6.5.2 South Korea Smart Cards In Healthcare Market by Component
10.3.6.5.3 South Korea Smart Cards In Healthcare Market by Application
10.3.6.6 Rest of Asia-Pacific Smart Cards In Healthcare Market
10.3.6.6.1 Rest of Asia-Pacific Smart Cards In Healthcare Market by Type
10.3.6.6.2 Rest of Asia-Pacific Smart Cards In Healthcare Market by Component
10.3.6.6.3 Rest of Asia-Pacific Smart Cards In Healthcare Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Smart Cards In Healthcare Market Overview
10.4.2 Middle East and Africa Smart Cards In Healthcare Market Forecasts and Analysis
10.4.3 Middle East and Africa Smart Cards In Healthcare Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Smart Cards In Healthcare Market Forecasts and Analysis - By Component
10.4.5 Middle East and Africa Smart Cards In Healthcare Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Smart Cards In Healthcare Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Smart Cards In Healthcare Market
10.4.6.1.1 South Africa Smart Cards In Healthcare Market by Type
10.4.6.1.2 South Africa Smart Cards In Healthcare Market by Component
10.4.6.1.3 South Africa Smart Cards In Healthcare Market by Application
10.4.6.2 Saudi Arabia Smart Cards In Healthcare Market
10.4.6.2.1 Saudi Arabia Smart Cards In Healthcare Market by Type
10.4.6.2.2 Saudi Arabia Smart Cards In Healthcare Market by Component
10.4.6.2.3 Saudi Arabia Smart Cards In Healthcare Market by Application
10.4.6.3 U.A.E Smart Cards In Healthcare Market
10.4.6.3.1 U.A.E Smart Cards In Healthcare Market by Type
10.4.6.3.2 U.A.E Smart Cards In Healthcare Market by Component
10.4.6.3.3 U.A.E Smart Cards In Healthcare Market by Application
10.4.6.4 Rest of Middle East and Africa Smart Cards In Healthcare Market
10.4.6.4.1 Rest of Middle East and Africa Smart Cards In Healthcare Market by Type
10.4.6.4.2 Rest of Middle East and Africa Smart Cards In Healthcare Market by Component
10.4.6.4.3 Rest of Middle East and Africa Smart Cards In Healthcare Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Smart Cards In Healthcare Market Overview
10.5.2 South and Central America Smart Cards In Healthcare Market Forecasts and Analysis
10.5.3 South and Central America Smart Cards In Healthcare Market Forecasts and Analysis - By Type
10.5.4 South and Central America Smart Cards In Healthcare Market Forecasts and Analysis - By Component
10.5.5 South and Central America Smart Cards In Healthcare Market Forecasts and Analysis - By Application
10.5.6 South and Central America Smart Cards In Healthcare Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Smart Cards In Healthcare Market
10.5.6.1.1 Brazil Smart Cards In Healthcare Market by Type
10.5.6.1.2 Brazil Smart Cards In Healthcare Market by Component
10.5.6.1.3 Brazil Smart Cards In Healthcare Market by Application
10.5.6.2 Argentina Smart Cards In Healthcare Market
10.5.6.2.1 Argentina Smart Cards In Healthcare Market by Type
10.5.6.2.2 Argentina Smart Cards In Healthcare Market by Component
10.5.6.2.3 Argentina Smart Cards In Healthcare Market by Application
10.5.6.3 Rest of South and Central America Smart Cards In Healthcare Market
10.5.6.3.1 Rest of South and Central America Smart Cards In Healthcare Market by Type
10.5.6.3.2 Rest of South and Central America Smart Cards In Healthcare Market by Component
10.5.6.3.3 Rest of South and Central America Smart Cards In Healthcare Market by Application
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. SMART CARDS IN HEALTHCARE MARKET, KEY COMPANY PROFILES
12.1. AMERICAN EXPRESS COMPANY
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. CARDLOGIX CORPORATION
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. ATOS SE
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. GIESECKE AND DEVRIENT
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. THALES GROUP
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. INFINEON TECHNOLOGIES AG
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. OBERTHUR TECHNOLOGIES SA (IDEMIA)
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. SCM MICROSYSTEMS
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. VERIFONE HOLDINGS
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. IDENTICARD SYSTEMS
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
- American Express Company
- CardLogix Corporation
- Atos SE
- Giesecke & Devrient
- Thales Group
- Infineon Technologies AG
- Oberthur Technologies SA (Idemia)
- SCM Microsystems
- VeriFone Holdings
- IDenticard Systems
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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