Solder Paste Market Growth Report 2021 to 2031
The Solder Paste Market is expected to register a CAGR of 2.3% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by product type (rosin-based, water-soluble, and no-clean). The report further presents an analysis based on the application (consumer electronics, automotive electronics, semiconductor packaging, and others). The report scope covers five regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America and key countries under each region. The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Solder Paste 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.
Solder Paste Market Segmentation
Product Type- Rosin-Based
- Water-Soluble
- No-Clean
- Consumer Electronics
- Automotive Electronics
- Semiconductor Packaging
Strategic Insights
Solder Paste Market Growth Drivers- Increased Demand from Consumer Electronics: Increased demand for consumer electronics, including smartphones, laptops, and wearables along with other smart devices, is the major driving factor behind the solder paste market. Solder paste is an essential material in surface mount technology (SMT) to assemble these devices. A resurgent semiconductor industry further fuels the demand by relying on solder paste for efficient and reliable assembly of chips and other components. As consumer electronics are becoming smaller and more compact with more advanced technologies, the demand for high-quality solder paste to increase precision and reliability in the placement of components is growing.
- Miniaturization Driving Solder Paste Requirements: Miniaturization in the electronics industry is another critical trend pushing the solder paste market. As silicon devices are becoming smaller, with higher capabilities, the manufacturers should have solder paste finer in particle size and superior properties in assembling small efficient units for their components. The same applies to a great number of smartphones, wearables, and IoT products that require miniaturized components. Solder paste, with fine-tuned composition, plays a critical role in high-density interconnections for smaller devices and circuit boards.
- Automotive Sector's Demand for High-Performance Solder Paste: Driving factors in the automotive sector include complexity and increasing dependence on electronics through electric vehicles, autonomous driving, and advanced driver-assistance systems; thus, demand in solder paste is gaining. Automotive electronics require high reliability, long-lasting solder joints for critical applications such as sensors, control units, and power electronics. Higher electronics content in modern vehicles, especially in electric and hybrid electric vehicles, continues to raise the necessity of high-temperature solder pastes, capable of withstanding such conditions for long durations-a key driver of the market growth.
- Shift Towards Lead-Free Solder Pastes Driven by Environmental Concerns: Environmental concerns and the regulatory pressure of the European Union's RoHS (Restriction of Hazardous Substances) directive have made the industry move significantly away from lead-based solder pastes and force it to substitute lead-free types. Lead-free solder pastes, mainly based on alloys such as tin-silver-copper (SAC), are progressively becoming a new standard in electronic manufacturing. Compliance with environmental regulations and a growing attention to sustainability push up this trend. Lead-free solder pastes also have advantages such as improved performance under thermal cycling along with greater mechanical strength, hence suitable for a very wide range of electronic applications.
- Growing Demand for High-Performance Solder Pastes: With such high complexity in electronic devices, there is a growing demand for high-performance solder pastes with superior characteristics such as high-pitch capabilities, high thermal stability, and fast reflow times. It is now that solder pastes of higher qualities are desired where reliability can be placed in a finer pitch component application in the most miniature and sophisticated electronics with applications in smartphones, medical devices, and automotive electronics. These requirements drive the innovation in solder paste formulations: excellent wetting, low voiding, and good flux activity.
- Industry 4.0 and Automation Revolutionizing Solder Paste Manufacturing: The principles of Industry 4.0, coupled with the higher use of automation in Surface Mount Technology (SMT) production lines, are defining the solder paste market. Automated printing of solder paste, along with enhanced quality control systems, enables more accuracy, fewer defects, and a uniform application of solder paste. This, in turn, will assist manufacturers in optimizing their production processes, increasing throughputs, and cutting costs. Sensors and real-time monitoring systems integrated into SMT lines make solder paste applications more precise. In high-volume manufacturing, the yield rate is improved, and waste is cut down.
- Electric Vehicle (EV) Market: A Key Growth Opportunity for the Solder Paste Market: The electric vehicle boom is a giant opportunity for the solder paste market. Widespread adoption of electric vehicles is increasing demand for electronic components that need to be robust, high-performance within the automotive sector. EVs have used a large number of electronic systems for battery management, power electronics, inverters, sensors, and ADAS feature that require efficient and highly reliable solder joints. This allows solder paste manufacturers to tap into high-reliability and temperature-sensitive applications within automotive electronics.
- Wearable Technology and Internet of Things (IoT): Emerging Market for Solder Paste: Advancements in wearable technology and the growth of the market for the Internet of Things are bestowing potential opportunities for the solder paste market. Wearables-smartwatches, activity trackers, and bio-wearables-so need tiny, reliable electronic components and, hence, high-performance solder paste to assemble them. Along the same line, with the increase in the proliferation of IoT devices and their size complexity, the demand for solder pastes that can easily help support more miniaturized components in very compact, energy-efficient designs has also increased. The markets are emerging and form a massive growth area for solder paste makers.
- Growing Demand for Solder Paste in Asia-Pacific and Latin America: Demand for solder paste in Asia-Pacific and Latin America is growing swiftly. Solder pastes are likely to be demanded increasingly in China, India, South Korea, and Brazil, especially because these countries are witnessing rapid growth in electronics manufacturing trend that is also fueled by higher domestic demand and expansion in the semiconductor and automotive industries. The growth of electronic manufacturing services and contract electronics manufacturing in these regions offers tremendous scope for the expansion of solder paste suppliers. Manufacturers can capture this market by providing low-cost, high-quality solder pastes that meet the requirements of local industries with a beginning towards establishing compliance with international standards.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Solder Paste 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 Solder Paste 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.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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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
- 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
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to country scope.
Frequently Asked Questions
The Solder Paste Market is estimated to witness a CAGR of 2.3% from 2023 to 2031
The major factors driving the solder paste market are:
1. Growth in Consumer Electronics and Semiconductor Industries.
2. Miniaturization of Electronic Components.
AIM Metals and Alloys LP, Asahi Solder, DJK Europe GmbH, Fusion Inc, GENMA Europe GmbH, Henkel Corp, Indium Corp, Kester Inc, MacDermid Alpha Electronics Solutions, and Tamura Corp
On the basis of geography, the solder paste market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Increased demand for high-performance solder pastes is expected to be the key market trend.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Solder Paste Market - By Product Type
1.3.2 Solder Paste Market - By Application
1.3.3 Solder Paste Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SOLDER PASTE 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. SOLDER PASTE 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. SOLDER PASTE MARKET - GLOBAL MARKET ANALYSIS
6.1. SOLDER PASTE - GLOBAL MARKET OVERVIEW
6.2. SOLDER PASTE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. SOLDER PASTE MARKET - REVENUE AND FORECASTS TO 2028 – PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. ROSIN-BASED PASTES
7.3.1. Overview
7.3.2. Rosin-Based Pastes Market Forecast and Analysis
7.4. WATER SOLUBLE PASTES
7.4.1. Overview
7.4.2. Water Soluble Pastes Market Forecast and Analysis
7.5. NO-CLEAN PASTES
7.5.1. Overview
7.5.2. No-clean Pastes Market Forecast and Analysis
8. SOLDER PASTE MARKET - REVENUE AND FORECASTS TO 2028 – APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. SMT ASSEMBLY
8.3.1. Overview
8.3.2. SMT Assembly Market Forecast and Analysis
8.4. SEMICONDUCTOR PACKAGING
8.4.1. Overview
8.4.2. Semiconductor Packaging Market Forecast and Analysis
8.5. CONSUMER ELECTRONICS
8.5.1. Overview
8.5.2. Consumer Electronics Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. SOLDER PASTE MARKET REVENUE AND FORECASTS TO 2028 – GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Solder Paste Market Overview
9.1.2 North America Solder Paste Market Forecasts and Analysis
9.1.3 North America Solder Paste Market Forecasts and Analysis - By Product Type
9.1.4 North America Solder Paste Market Forecasts and Analysis - By Application
9.1.5 North America Solder Paste Market Forecasts and Analysis - By Countries
9.1.5.1 United States Solder Paste Market
9.1.5.1.1 United States Solder Paste Market by Product Type
9.1.5.1.2 United States Solder Paste Market by Application
9.1.5.2 Canada Solder Paste Market
9.1.5.2.1 Canada Solder Paste Market by Product Type
9.1.5.2.2 Canada Solder Paste Market by Application
9.1.5.3 Mexico Solder Paste Market
9.1.5.3.1 Mexico Solder Paste Market by Product Type
9.1.5.3.2 Mexico Solder Paste Market by Application
9.2. EUROPE
9.2.1 Europe Solder Paste Market Overview
9.2.2 Europe Solder Paste Market Forecasts and Analysis
9.2.3 Europe Solder Paste Market Forecasts and Analysis - By Product Type
9.2.4 Europe Solder Paste Market Forecasts and Analysis - By Application
9.2.5 Europe Solder Paste Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Solder Paste Market
9.2.5.1.1 Germany Solder Paste Market by Product Type
9.2.5.1.2 Germany Solder Paste Market by Application
9.2.5.2 France Solder Paste Market
9.2.5.2.1 France Solder Paste Market by Product Type
9.2.5.2.2 France Solder Paste Market by Application
9.2.5.3 Italy Solder Paste Market
9.2.5.3.1 Italy Solder Paste Market by Product Type
9.2.5.3.2 Italy Solder Paste Market by Application
9.2.5.4 United Kingdom Solder Paste Market
9.2.5.4.1 United Kingdom Solder Paste Market by Product Type
9.2.5.4.2 United Kingdom Solder Paste Market by Application
9.2.5.5 Russia Solder Paste Market
9.2.5.5.1 Russia Solder Paste Market by Product Type
9.2.5.5.2 Russia Solder Paste Market by Application
9.2.5.6 Rest of Europe Solder Paste Market
9.2.5.6.1 Rest of Europe Solder Paste Market by Product Type
9.2.5.6.2 Rest of Europe Solder Paste Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Solder Paste Market Overview
9.3.2 Asia-Pacific Solder Paste Market Forecasts and Analysis
9.3.3 Asia-Pacific Solder Paste Market Forecasts and Analysis - By Product Type
9.3.4 Asia-Pacific Solder Paste Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Solder Paste Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Solder Paste Market
9.3.5.1.1 Australia Solder Paste Market by Product Type
9.3.5.1.2 Australia Solder Paste Market by Application
9.3.5.2 China Solder Paste Market
9.3.5.2.1 China Solder Paste Market by Product Type
9.3.5.2.2 China Solder Paste Market by Application
9.3.5.3 India Solder Paste Market
9.3.5.3.1 India Solder Paste Market by Product Type
9.3.5.3.2 India Solder Paste Market by Application
9.3.5.4 Japan Solder Paste Market
9.3.5.4.1 Japan Solder Paste Market by Product Type
9.3.5.4.2 Japan Solder Paste Market by Application
9.3.5.5 South Korea Solder Paste Market
9.3.5.5.1 South Korea Solder Paste Market by Product Type
9.3.5.5.2 South Korea Solder Paste Market by Application
9.3.5.6 Rest of Asia-Pacific Solder Paste Market
9.3.5.6.1 Rest of Asia-Pacific Solder Paste Market by Product Type
9.3.5.6.2 Rest of Asia-Pacific Solder Paste Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Solder Paste Market Overview
9.4.2 Middle East and Africa Solder Paste Market Forecasts and Analysis
9.4.3 Middle East and Africa Solder Paste Market Forecasts and Analysis - By Product Type
9.4.4 Middle East and Africa Solder Paste Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Solder Paste Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Solder Paste Market
9.4.5.1.1 South Africa Solder Paste Market by Product Type
9.4.5.1.2 South Africa Solder Paste Market by Application
9.4.5.2 Saudi Arabia Solder Paste Market
9.4.5.2.1 Saudi Arabia Solder Paste Market by Product Type
9.4.5.2.2 Saudi Arabia Solder Paste Market by Application
9.4.5.3 U.A.E Solder Paste Market
9.4.5.3.1 U.A.E Solder Paste Market by Product Type
9.4.5.3.2 U.A.E Solder Paste Market by Application
9.4.5.4 Rest of Middle East and Africa Solder Paste Market
9.4.5.4.1 Rest of Middle East and Africa Solder Paste Market by Product Type
9.4.5.4.2 Rest of Middle East and Africa Solder Paste Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Solder Paste Market Overview
9.5.2 South and Central America Solder Paste Market Forecasts and Analysis
9.5.3 South and Central America Solder Paste Market Forecasts and Analysis - By Product Type
9.5.4 South and Central America Solder Paste Market Forecasts and Analysis - By Application
9.5.5 South and Central America Solder Paste Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Solder Paste Market
9.5.5.1.1 Brazil Solder Paste Market by Product Type
9.5.5.1.2 Brazil Solder Paste Market by Application
9.5.5.2 Argentina Solder Paste Market
9.5.5.2.1 Argentina Solder Paste Market by Product Type
9.5.5.2.2 Argentina Solder Paste Market by Application
9.5.5.3 Rest of South and Central America Solder Paste Market
9.5.5.3.1 Rest of South and Central America Solder Paste Market by Product Type
9.5.5.3.2 Rest of South and Central America Solder Paste Market by Application
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL SOLDER PASTE MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Middle East and Africa
10.5 South and Central America
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. SOLDER PASTE MARKET, KEY COMPANY PROFILES
12.1. AIM METALS AND ALLOYS LP
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. HENKEL 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. INDIUM CORPORATION
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. INVENTEC
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. KESTER
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. KOKI 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. MACDERMID ALPHA ELECTRONICS SOLUTIONS
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. NIHON SUPERIOR 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. SENJU METAL INDUSTRY CO., LTD.
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. TAMURA CORPORATION
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
- AIM Metals & Alloys LP
- Henkel Corporation
- Indium Corporation
- Inventec
- Kester
- KOKI Company Ltd.
- MacDermid Alpha Electronics Solutions
- Nihon Superior Co., Ltd.
- Senju Metal Industry Co., Ltd.
- TAMURA Corporation
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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