Splicing Tapes Market Size and Share: 2021 to 2031 Key Findings
The Splicing Tapes Market is expected to register a CAGR of 2.5% 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 (silicone, rubber, and acrylic). The report is further segmented by backing material (paper, polyester, non-woven, and others). The report further presents an analysis based on the application (paper and printing, electronics, packaging, labeling, 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 the regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Splicing Tapes 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.
Splicing Tapes Market Segmentation
Product Type- Silicone
- Rubber
- Acrylic
- Paper
- Polyester
- Non-Woven
- Paper and Printing
- Electronics
- Packaging
- Labeling
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Splicing Tapes Market Growth Drivers- Increased Demand for Splicing Tapes Driven by Automation and Advanced Manufacturing: Increases in automation and advanced manufacturing processes, splicing tapes have been in ever-growing demand. Automotive and electrical industries and the textile sector need production lines where splicing tapes come in as a factor to ensure unbroken operations. Tapes used in sticking materials such as films, foils, and nonwoven fabrics must be applied with minimal damage and without needing equipment for further operations; this enhances the factor of production and reduces downtime.
- Booming Packaging and Labeling Markets Boost Splicing Tape Demand, Especially in E-commerce: Major expansion in the packaging and labeling markets, with particular emphasis in the areas of e-commerce and consumer goods, has considerably raised demand for splicing tapes by a major margin. The splicing tape is used to combine materials like papers, films, and corrugated cardboard while manufacturing labels or packaging. With customized packaging and shortened delivery times gaining prominence in the market driven by consumers, splicing tapes are an excellent product suited for fast-paced production lines in the packaging industry.
- High-Performance and Environmentally Friendly Splicing Tapes Spur Market Growth Across Industries: The use of high-performance splicing tapes with advanced adhesives and backing materials also drives market growth. Advances that have made materials less residual, material-neutral in high temperatures, and environment-friendly have been good for spreading the use cases across different industry domains. With more industries embracing these high-tech solutions, there is an ever-growing demand for specialized splicing tapes that will meet a variety of needs, from high-temperature apps to eco-sensitive choices.
- Demand for Eco-friendly and Recyclable Splicing Tapes Driven by Sustainability Trends: Environmental awareness and sustainability concerns are trending rapidly; hence, splicing tapes are in demand to be eco-friendly and recyclable. Manufacturers are pushing their production lines for biodegradable adhesives and recyclable backing materials of the tapes. Such a shift stands hand-in-hand with the growing consumer and regulatory demands for green packaging solutions, causing an increase in sustainable offerings in the market.
- Customization of Splicing Tapes to Meet Industry-Specific Needs, Including Anti-Static and High-Temperature Applications: There is a growing demand to move toward customized splicing tape solutions according to the peculiar needs of different industries such as automotive, electronics, and textiles. For instance, splicing tapes with particular features such as anti-static properties for the electronics industry or high-temperature resistance for the automotive industry are increasing in demand. It is driven by the increasing requirement of having optimized performance under specific operating conditions.
- Rising Demand for Splicing Tapes in Smart Packaging and High-Speed Production in Food, Pharma, and Consumer Goods: The growth of the food, pharmaceutical, and consumer goods sectors in adopting digital printing and smart packaging technologies is driving the demand for splicing tapes. Splicing tapes are critical for splicing the various materials used in printed packaging, especially within the high-speed automated production environment. Smart packaging, which includes QR codes, NFC (Near Field Communication), and RFID tags, typically depends on splicing tapes to ensure smooth integration of layers and materials.
- Opportunities for Splicing Tape Producers in the E-commerce and Global Logistics Sector Driven by Complex Packaging Needs: The growth of e-commerce and the global logistics sector creates good opportunities for splicing tape producers. As packaging becomes more complex and expectations about delivery speed and presentation by consumers increase, the need for efficient and cost-effective splicing increases. Splicing tapes are key to ensuring the integrity of packaging materials, offering an opportunity for suppliers to tap into this expanding market.
- Rising Demand for Specialized Splicing Tapes in the Medical and Pharmaceutical Industries for Sterile Packaging and Regulatory Compliance: The medical and pharmaceutical industries are increasingly using splicing tapes for application in sterile packaging, assembly of medical devices, and labeling of pharmaceuticals. The growth of the market of medical devices, coupled with an emphasis on regulatory compliance and tamper-proof packaging, opens opportunities for specialized splicing tape products that meet the stringent requirements of the healthcare industry.
- Growth in Emerging Economies Driving Demand for Splicing Tapes in Infrastructure, Manufacturing, and Packaging Applications: Increased infrastructure projects and manufacturing activities in emerging economies, especially in Asia-Pacific and Latin America, offer an opportunity for splicing tape producers to build market share in various sectors. This increased industrialization and urbanization are thus increasing the demand for efficient materials handling and packaging solutions, thus intensifying the need for splicing tapes in many sectors, such as construction, automotive, and electronics manufacturing.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Splicing Tapes 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 Splicing Tapes 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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- Request discounts available for Start-Ups & Universities
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 Splicing Tapes Market is estimated to witness a CAGR of 2.5% from 2023 to 2031
The major factors driving the splicing tapes market are:
1. Increasing Demand for Automation in Manufacturing.
2. Growth in Packaging and Labeling Industries.
Berry Global Inc, 3M Co, Scapa Group Plc, Nitto Denko Corp, ORAFOL Group, Shurtape Technologies LLC, Tesa SE, Avery Dennison Corp, Orafol Europe GmbH, and American Biltrite Inc
On the basis of geography, the splicing tapes 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.
Digital printing and the rise of smart packaging 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 Splicing Tapes Market - By Resin Type
1.3.2 Splicing Tapes Market - By Backing Material
1.3.3 Splicing Tapes Market - By Application
1.3.4 Splicing Tapes Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SPLICING TAPES 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. SPLICING TAPES 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. SPLICING TAPES MARKET - GLOBAL MARKET ANALYSIS
6.1. SPLICING TAPES - GLOBAL MARKET OVERVIEW
6.2. SPLICING TAPES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SPLICING TAPES MARKET - REVENUE AND FORECASTS TO 2028 - RESIN TYPE
7.1. OVERVIEW
7.2. RESIN TYPE MARKET FORECASTS AND ANALYSIS
7.3. ACRYLIC
7.3.1. Overview
7.3.2. Acrylic Market Forecast and Analysis
7.4. RUBBER
7.4.1. Overview
7.4.2. Rubber Market Forecast and Analysis
7.5. SILICONE
7.5.1. Overview
7.5.2. Silicone Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. SPLICING TAPES MARKET - REVENUE AND FORECASTS TO 2028 - BACKING MATERIAL
8.1. OVERVIEW
8.2. BACKING MATERIAL MARKET FORECASTS AND ANALYSIS
8.3. PAPER/TISSUE
8.3.1. Overview
8.3.2. Paper/Tissue Market Forecast and Analysis
8.4. PET/POLYESTER
8.4.1. Overview
8.4.2. Pet/Polyester Market Forecast and Analysis
8.5. NON-WOVEN
8.5.1. Overview
8.5.2. Non-Woven Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. SPLICING TAPES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. PAPER AND PRINTING
9.3.1. Overview
9.3.2. Paper and Printing Market Forecast and Analysis
9.4. PACKAGING
9.4.1. Overview
9.4.2. Packaging Market Forecast and Analysis
9.5. ELECTRONICS
9.5.1. Overview
9.5.2. Electronics Market Forecast and Analysis
9.6. LABELING
9.6.1. Overview
9.6.2. Labeling Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. SPLICING TAPES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Splicing Tapes Market Overview
10.1.2 North America Splicing Tapes Market Forecasts and Analysis
10.1.3 North America Splicing Tapes Market Forecasts and Analysis - By Resin Type
10.1.4 North America Splicing Tapes Market Forecasts and Analysis - By Backing Material
10.1.5 North America Splicing Tapes Market Forecasts and Analysis - By Application
10.1.6 North America Splicing Tapes Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Splicing Tapes Market
10.1.6.1.1 Canada Splicing Tapes Market by Resin Type
10.1.6.1.2 Canada Splicing Tapes Market by Backing Material
10.1.6.1.3 Canada Splicing Tapes Market by Application
10.1.6.2 Mexico Splicing Tapes Market
10.1.6.2.1 Mexico Splicing Tapes Market by Resin Type
10.1.6.2.2 Mexico Splicing Tapes Market by Backing Material
10.1.6.2.3 Mexico Splicing Tapes Market by Application
10.1.6.3 US Splicing Tapes Market
10.1.6.3.1 US Splicing Tapes Market by Resin Type
10.1.6.3.2 US Splicing Tapes Market by Backing Material
10.1.6.3.3 US Splicing Tapes Market by Application
10.2. EUROPE
10.2.1 Europe Splicing Tapes Market Overview
10.2.2 Europe Splicing Tapes Market Forecasts and Analysis
10.2.3 Europe Splicing Tapes Market Forecasts and Analysis - By Resin Type
10.2.4 Europe Splicing Tapes Market Forecasts and Analysis - By Backing Material
10.2.5 Europe Splicing Tapes Market Forecasts and Analysis - By Application
10.2.6 Europe Splicing Tapes Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Splicing Tapes Market
10.2.6.1.1 Germany Splicing Tapes Market by Resin Type
10.2.6.1.2 Germany Splicing Tapes Market by Backing Material
10.2.6.1.3 Germany Splicing Tapes Market by Application
10.2.6.2 France Splicing Tapes Market
10.2.6.2.1 France Splicing Tapes Market by Resin Type
10.2.6.2.2 France Splicing Tapes Market by Backing Material
10.2.6.2.3 France Splicing Tapes Market by Application
10.2.6.3 Italy Splicing Tapes Market
10.2.6.3.1 Italy Splicing Tapes Market by Resin Type
10.2.6.3.2 Italy Splicing Tapes Market by Backing Material
10.2.6.3.3 Italy Splicing Tapes Market by Application
10.2.6.4 United Kingdom Splicing Tapes Market
10.2.6.4.1 United Kingdom Splicing Tapes Market by Resin Type
10.2.6.4.2 United Kingdom Splicing Tapes Market by Backing Material
10.2.6.4.3 United Kingdom Splicing Tapes Market by Application
10.2.6.5 Russia Splicing Tapes Market
10.2.6.5.1 Russia Splicing Tapes Market by Resin Type
10.2.6.5.2 Russia Splicing Tapes Market by Backing Material
10.2.6.5.3 Russia Splicing Tapes Market by Application
10.2.6.6 Rest of Europe Splicing Tapes Market
10.2.6.6.1 Rest of Europe Splicing Tapes Market by Resin Type
10.2.6.6.2 Rest of Europe Splicing Tapes Market by Backing Material
10.2.6.6.3 Rest of Europe Splicing Tapes Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Splicing Tapes Market Overview
10.3.2 Asia-Pacific Splicing Tapes Market Forecasts and Analysis
10.3.3 Asia-Pacific Splicing Tapes Market Forecasts and Analysis - By Resin Type
10.3.4 Asia-Pacific Splicing Tapes Market Forecasts and Analysis - By Backing Material
10.3.5 Asia-Pacific Splicing Tapes Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Splicing Tapes Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Splicing Tapes Market
10.3.6.1.1 Australia Splicing Tapes Market by Resin Type
10.3.6.1.2 Australia Splicing Tapes Market by Backing Material
10.3.6.1.3 Australia Splicing Tapes Market by Application
10.3.6.2 China Splicing Tapes Market
10.3.6.2.1 China Splicing Tapes Market by Resin Type
10.3.6.2.2 China Splicing Tapes Market by Backing Material
10.3.6.2.3 China Splicing Tapes Market by Application
10.3.6.3 India Splicing Tapes Market
10.3.6.3.1 India Splicing Tapes Market by Resin Type
10.3.6.3.2 India Splicing Tapes Market by Backing Material
10.3.6.3.3 India Splicing Tapes Market by Application
10.3.6.4 Japan Splicing Tapes Market
10.3.6.4.1 Japan Splicing Tapes Market by Resin Type
10.3.6.4.2 Japan Splicing Tapes Market by Backing Material
10.3.6.4.3 Japan Splicing Tapes Market by Application
10.3.6.5 South Korea Splicing Tapes Market
10.3.6.5.1 South Korea Splicing Tapes Market by Resin Type
10.3.6.5.2 South Korea Splicing Tapes Market by Backing Material
10.3.6.5.3 South Korea Splicing Tapes Market by Application
10.3.6.6 Rest of Asia-Pacific Splicing Tapes Market
10.3.6.6.1 Rest of Asia-Pacific Splicing Tapes Market by Resin Type
10.3.6.6.2 Rest of Asia-Pacific Splicing Tapes Market by Backing Material
10.3.6.6.3 Rest of Asia-Pacific Splicing Tapes Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Splicing Tapes Market Overview
10.4.2 Middle East and Africa Splicing Tapes Market Forecasts and Analysis
10.4.3 Middle East and Africa Splicing Tapes Market Forecasts and Analysis - By Resin Type
10.4.4 Middle East and Africa Splicing Tapes Market Forecasts and Analysis - By Backing Material
10.4.5 Middle East and Africa Splicing Tapes Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Splicing Tapes Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Splicing Tapes Market
10.4.6.1.1 South Africa Splicing Tapes Market by Resin Type
10.4.6.1.2 South Africa Splicing Tapes Market by Backing Material
10.4.6.1.3 South Africa Splicing Tapes Market by Application
10.4.6.2 Saudi Arabia Splicing Tapes Market
10.4.6.2.1 Saudi Arabia Splicing Tapes Market by Resin Type
10.4.6.2.2 Saudi Arabia Splicing Tapes Market by Backing Material
10.4.6.2.3 Saudi Arabia Splicing Tapes Market by Application
10.4.6.3 U.A.E Splicing Tapes Market
10.4.6.3.1 U.A.E Splicing Tapes Market by Resin Type
10.4.6.3.2 U.A.E Splicing Tapes Market by Backing Material
10.4.6.3.3 U.A.E Splicing Tapes Market by Application
10.4.6.4 Rest of Middle East and Africa Splicing Tapes Market
10.4.6.4.1 Rest of Middle East and Africa Splicing Tapes Market by Resin Type
10.4.6.4.2 Rest of Middle East and Africa Splicing Tapes Market by Backing Material
10.4.6.4.3 Rest of Middle East and Africa Splicing Tapes Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Splicing Tapes Market Overview
10.5.2 South and Central America Splicing Tapes Market Forecasts and Analysis
10.5.3 South and Central America Splicing Tapes Market Forecasts and Analysis - By Resin Type
10.5.4 South and Central America Splicing Tapes Market Forecasts and Analysis - By Backing Material
10.5.5 South and Central America Splicing Tapes Market Forecasts and Analysis - By Application
10.5.6 South and Central America Splicing Tapes Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Splicing Tapes Market
10.5.6.1.1 Brazil Splicing Tapes Market by Resin Type
10.5.6.1.2 Brazil Splicing Tapes Market by Backing Material
10.5.6.1.3 Brazil Splicing Tapes Market by Application
10.5.6.2 Argentina Splicing Tapes Market
10.5.6.2.1 Argentina Splicing Tapes Market by Resin Type
10.5.6.2.2 Argentina Splicing Tapes Market by Backing Material
10.5.6.2.3 Argentina Splicing Tapes Market by Application
10.5.6.3 Rest of South and Central America Splicing Tapes Market
10.5.6.3.1 Rest of South and Central America Splicing Tapes Market by Resin Type
10.5.6.3.2 Rest of South and Central America Splicing Tapes Market by Backing Material
10.5.6.3.3 Rest of South and Central America Splicing Tapes 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. SPLICING TAPES MARKET, KEY COMPANY PROFILES
12.1. 3M
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. ACE TECH KOREA CO., LTD
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. ADHESIVE RESEARCH, INC.
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. AMERICAN BILTRITE INC.
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. AVERY DENNISON 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. ECHOTAPE
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. NITTO DENKO CORPORATION
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. ORAFOL EUROPE GMBH
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. SCAPA GROUP PLC
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. TESA SE
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
1. 3M
2. ACE Tech Korea Co. , Ltd
3. Adhesive Research, Inc.
4. American Biltrite Inc.
5. Avery Dennison Corporation
6. ECHOtape
7. Nitto Denko Corporation
8. Orafol Europe Gmbh
9. Scapa Group Plc
10. tesa SE
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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