Smart Plug Market Developments by 2031
Smart plugs enable the user to control the devices by using a mobile phone application remotely. It helps to turn appliances on and off; however, when a smart plug is connected to a smart home, its applications become versatile. With the use of smart plugs, a user can convert any ordinary home appliance such as television, lamp, fan, and air conditioners among others into a smart appliance allowing smart features controllable from mobile devices.
MARKET SCOPE
The "Global Smart Plug Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the smart plug market with detailed market segmentation by type, application, connectivity, end user, and geography. The report provides key statistics on the market status of the leading smart plug market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global smart plug market is segmented into metering and timing.
- On the basis of application, the market is segmented into energy suppliers and meter companies, appliance manufacturers, and home automation and security.
- Based on connectivity, the market is segmented into Bluetooth, Wi-Fi, and zigbee.
- Based on end user, the market is segmented into residential and commercial.
MARKET DYNAMICS
Drivers:
- The smart plug market growth is highly propelled with the increasing adoption of home automation as well as changing customer preferences towards smart home applications.
- Further, the rising demand for energy savings and convenient lifestyle is another significant factor bolstering the growth of the smart plug market.
- Also, IoT enabled electronic devices has resulted in controlling devices remotely, which in turn is propelling the demand for smart home devices thus, fueling the demand for the smart plug market.
Restraints:
- High cost may hinder the growth of the smart plug market.
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 plug 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 plug market in these regions.
IMPACT OF COVID-19 ON SMART PLUG 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.
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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 plug 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 plug market in these regions.
IMPACT OF COVID-19 ON SMART PLUG 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 smart plug 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 plug market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the smart plug 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.
- Belkin International, Inc.
- Hangzhou BroadLink Technology Co.,Ltd
- D-Link Corporation
- EDIMAX Technology
- Etekcity Corporation.
- Insteon
- Leviton Manufacturing Co., Inc.
- Panasonic Corporation
- SDI Technologies Inc.
- TP-Link Corporation Limited.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- 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 Plug Market - By Type
1.3.2 Smart Plug Market - By Application
1.3.3 Smart Plug Market - By Connectivity
1.3.4 Smart Plug Market - By End user
1.3.5 Smart Plug Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SMART PLUG 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. SMART PLUG 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 PLUG MARKET - GLOBAL MARKET ANALYSIS
6.1. SMART PLUG - GLOBAL MARKET OVERVIEW
6.2. SMART PLUG - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SMART PLUG MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. METERING
7.3.1. Overview
7.3.2. Metering Market Forecast and Analysis
7.4. TIMING
7.4.1. Overview
7.4.2. Timing Market Forecast and Analysis
8. SMART PLUG MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ENERGY SUPPLIERS AND METER COMPANIES
8.3.1. Overview
8.3.2. Energy Suppliers and Meter Companies Market Forecast and Analysis
8.4. APPLIANCE MANUFACTURERS
8.4.1. Overview
8.4.2. Appliance Manufacturers Market Forecast and Analysis
8.5. HOME AUTOMATION AND SECURITY
8.5.1. Overview
8.5.2. Home Automation and Security Market Forecast and Analysis
9. SMART PLUG MARKET - REVENUE AND FORECASTS TO 2028 - CONNECTIVITY
9.1. OVERVIEW
9.2. CONNECTIVITY MARKET FORECASTS AND ANALYSIS
9.3. BLUETOOTH
9.3.1. Overview
9.3.2. Bluetooth Market Forecast and Analysis
9.4. WI-FI
9.4.1. Overview
9.4.2. Wi-Fi Market Forecast and Analysis
9.5. ZIGBEE
9.5.1. Overview
9.5.2. Zigbee Market Forecast and Analysis
10. SMART PLUG MARKET - REVENUE AND FORECASTS TO 2028 - END USER
10.1. OVERVIEW
10.2. END USER MARKET FORECASTS AND ANALYSIS
10.3. RESIDENTIAL
10.3.1. Overview
10.3.2. Residential Market Forecast and Analysis
10.4. COMMERCIAL
10.4.1. Overview
10.4.2. Commercial Market Forecast and Analysis
11. SMART PLUG MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Smart Plug Market Overview
11.1.2 North America Smart Plug Market Forecasts and Analysis
11.1.3 North America Smart Plug Market Forecasts and Analysis - By Type
11.1.4 North America Smart Plug Market Forecasts and Analysis - By Application
11.1.5 North America Smart Plug Market Forecasts and Analysis - By Connectivity
11.1.6 North America Smart Plug Market Forecasts and Analysis - By End user
11.1.7 North America Smart Plug Market Forecasts and Analysis - By Countries
11.1.7.1 United States Smart Plug Market
11.1.7.1.1 United States Smart Plug Market by Type
11.1.7.1.2 United States Smart Plug Market by Application
11.1.7.1.3 United States Smart Plug Market by Connectivity
11.1.7.1.4 United States Smart Plug Market by End user
11.1.7.2 Canada Smart Plug Market
11.1.7.2.1 Canada Smart Plug Market by Type
11.1.7.2.2 Canada Smart Plug Market by Application
11.1.7.2.3 Canada Smart Plug Market by Connectivity
11.1.7.2.4 Canada Smart Plug Market by End user
11.1.7.3 Mexico Smart Plug Market
11.1.7.3.1 Mexico Smart Plug Market by Type
11.1.7.3.2 Mexico Smart Plug Market by Application
11.1.7.3.3 Mexico Smart Plug Market by Connectivity
11.1.7.3.4 Mexico Smart Plug Market by End user
11.2. EUROPE
11.2.1 Europe Smart Plug Market Overview
11.2.2 Europe Smart Plug Market Forecasts and Analysis
11.2.3 Europe Smart Plug Market Forecasts and Analysis - By Type
11.2.4 Europe Smart Plug Market Forecasts and Analysis - By Application
11.2.5 Europe Smart Plug Market Forecasts and Analysis - By Connectivity
11.2.6 Europe Smart Plug Market Forecasts and Analysis - By End user
11.2.7 Europe Smart Plug Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Smart Plug Market
11.2.7.1.1 Germany Smart Plug Market by Type
11.2.7.1.2 Germany Smart Plug Market by Application
11.2.7.1.3 Germany Smart Plug Market by Connectivity
11.2.7.1.4 Germany Smart Plug Market by End user
11.2.7.2 France Smart Plug Market
11.2.7.2.1 France Smart Plug Market by Type
11.2.7.2.2 France Smart Plug Market by Application
11.2.7.2.3 France Smart Plug Market by Connectivity
11.2.7.2.4 France Smart Plug Market by End user
11.2.7.3 Italy Smart Plug Market
11.2.7.3.1 Italy Smart Plug Market by Type
11.2.7.3.2 Italy Smart Plug Market by Application
11.2.7.3.3 Italy Smart Plug Market by Connectivity
11.2.7.3.4 Italy Smart Plug Market by End user
11.2.7.4 United Kingdom Smart Plug Market
11.2.7.4.1 United Kingdom Smart Plug Market by Type
11.2.7.4.2 United Kingdom Smart Plug Market by Application
11.2.7.4.3 United Kingdom Smart Plug Market by Connectivity
11.2.7.4.4 United Kingdom Smart Plug Market by End user
11.2.7.5 Russia Smart Plug Market
11.2.7.5.1 Russia Smart Plug Market by Type
11.2.7.5.2 Russia Smart Plug Market by Application
11.2.7.5.3 Russia Smart Plug Market by Connectivity
11.2.7.5.4 Russia Smart Plug Market by End user
11.2.7.6 Rest of Europe Smart Plug Market
11.2.7.6.1 Rest of Europe Smart Plug Market by Type
11.2.7.6.2 Rest of Europe Smart Plug Market by Application
11.2.7.6.3 Rest of Europe Smart Plug Market by Connectivity
11.2.7.6.4 Rest of Europe Smart Plug Market by End user
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Smart Plug Market Overview
11.3.2 Asia-Pacific Smart Plug Market Forecasts and Analysis
11.3.3 Asia-Pacific Smart Plug Market Forecasts and Analysis - By Type
11.3.4 Asia-Pacific Smart Plug Market Forecasts and Analysis - By Application
11.3.5 Asia-Pacific Smart Plug Market Forecasts and Analysis - By Connectivity
11.3.6 Asia-Pacific Smart Plug Market Forecasts and Analysis - By End user
11.3.7 Asia-Pacific Smart Plug Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Smart Plug Market
11.3.7.1.1 Australia Smart Plug Market by Type
11.3.7.1.2 Australia Smart Plug Market by Application
11.3.7.1.3 Australia Smart Plug Market by Connectivity
11.3.7.1.4 Australia Smart Plug Market by End user
11.3.7.2 China Smart Plug Market
11.3.7.2.1 China Smart Plug Market by Type
11.3.7.2.2 China Smart Plug Market by Application
11.3.7.2.3 China Smart Plug Market by Connectivity
11.3.7.2.4 China Smart Plug Market by End user
11.3.7.3 India Smart Plug Market
11.3.7.3.1 India Smart Plug Market by Type
11.3.7.3.2 India Smart Plug Market by Application
11.3.7.3.3 India Smart Plug Market by Connectivity
11.3.7.3.4 India Smart Plug Market by End user
11.3.7.4 Japan Smart Plug Market
11.3.7.4.1 Japan Smart Plug Market by Type
11.3.7.4.2 Japan Smart Plug Market by Application
11.3.7.4.3 Japan Smart Plug Market by Connectivity
11.3.7.4.4 Japan Smart Plug Market by End user
11.3.7.5 South Korea Smart Plug Market
11.3.7.5.1 South Korea Smart Plug Market by Type
11.3.7.5.2 South Korea Smart Plug Market by Application
11.3.7.5.3 South Korea Smart Plug Market by Connectivity
11.3.7.5.4 South Korea Smart Plug Market by End user
11.3.7.6 Rest of Asia-Pacific Smart Plug Market
11.3.7.6.1 Rest of Asia-Pacific Smart Plug Market by Type
11.3.7.6.2 Rest of Asia-Pacific Smart Plug Market by Application
11.3.7.6.3 Rest of Asia-Pacific Smart Plug Market by Connectivity
11.3.7.6.4 Rest of Asia-Pacific Smart Plug Market by End user
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Smart Plug Market Overview
11.4.2 Middle East and Africa Smart Plug Market Forecasts and Analysis
11.4.3 Middle East and Africa Smart Plug Market Forecasts and Analysis - By Type
11.4.4 Middle East and Africa Smart Plug Market Forecasts and Analysis - By Application
11.4.5 Middle East and Africa Smart Plug Market Forecasts and Analysis - By Connectivity
11.4.6 Middle East and Africa Smart Plug Market Forecasts and Analysis - By End user
11.4.7 Middle East and Africa Smart Plug Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Smart Plug Market
11.4.7.1.1 South Africa Smart Plug Market by Type
11.4.7.1.2 South Africa Smart Plug Market by Application
11.4.7.1.3 South Africa Smart Plug Market by Connectivity
11.4.7.1.4 South Africa Smart Plug Market by End user
11.4.7.2 Saudi Arabia Smart Plug Market
11.4.7.2.1 Saudi Arabia Smart Plug Market by Type
11.4.7.2.2 Saudi Arabia Smart Plug Market by Application
11.4.7.2.3 Saudi Arabia Smart Plug Market by Connectivity
11.4.7.2.4 Saudi Arabia Smart Plug Market by End user
11.4.7.3 U.A.E Smart Plug Market
11.4.7.3.1 U.A.E Smart Plug Market by Type
11.4.7.3.2 U.A.E Smart Plug Market by Application
11.4.7.3.3 U.A.E Smart Plug Market by Connectivity
11.4.7.3.4 U.A.E Smart Plug Market by End user
11.4.7.4 Rest of Middle East and Africa Smart Plug Market
11.4.7.4.1 Rest of Middle East and Africa Smart Plug Market by Type
11.4.7.4.2 Rest of Middle East and Africa Smart Plug Market by Application
11.4.7.4.3 Rest of Middle East and Africa Smart Plug Market by Connectivity
11.4.7.4.4 Rest of Middle East and Africa Smart Plug Market by End user
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Smart Plug Market Overview
11.5.2 South and Central America Smart Plug Market Forecasts and Analysis
11.5.3 South and Central America Smart Plug Market Forecasts and Analysis - By Type
11.5.4 South and Central America Smart Plug Market Forecasts and Analysis - By Application
11.5.5 South and Central America Smart Plug Market Forecasts and Analysis - By Connectivity
11.5.6 South and Central America Smart Plug Market Forecasts and Analysis - By End user
11.5.7 South and Central America Smart Plug Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Smart Plug Market
11.5.7.1.1 Brazil Smart Plug Market by Type
11.5.7.1.2 Brazil Smart Plug Market by Application
11.5.7.1.3 Brazil Smart Plug Market by Connectivity
11.5.7.1.4 Brazil Smart Plug Market by End user
11.5.7.2 Argentina Smart Plug Market
11.5.7.2.1 Argentina Smart Plug Market by Type
11.5.7.2.2 Argentina Smart Plug Market by Application
11.5.7.2.3 Argentina Smart Plug Market by Connectivity
11.5.7.2.4 Argentina Smart Plug Market by End user
11.5.7.3 Rest of South and Central America Smart Plug Market
11.5.7.3.1 Rest of South and Central America Smart Plug Market by Type
11.5.7.3.2 Rest of South and Central America Smart Plug Market by Application
11.5.7.3.3 Rest of South and Central America Smart Plug Market by Connectivity
11.5.7.3.4 Rest of South and Central America Smart Plug Market by End user
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. SMART PLUG MARKET, KEY COMPANY PROFILES
13.1. BELKIN INTERNATIONAL, 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. HANGZHOU BROADLINK TECHNOLOGY CO.,LTD
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. D-LINK 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. EDIMAX TECHNOLOGY
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. ETEKCITY 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. INSTEON
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. LEVITON MANUFACTURING CO., 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. PANASONIC CORPORATION
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. SDI TECHNOLOGIES INC.
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. TP-LINK CORPORATION LIMITED.
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. Belkin International, Inc.
2. Hangzhou BroadLink Technology Co.,Ltd
3. D-Link Corporation
4. EDIMAX Technology
5. Etekcity Corporation.
6. Insteon
7. Leviton Manufacturing Co., Inc.
8. Panasonic Corporation
9. SDI Technologies Inc.
10. TP-Link Corporation Limited.
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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