Thermostat Market Key Players Analysis 2031
MARKET INTRODUCTION Naveen Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
A thermostat is a regulating device component which senses the temperature of a physical system and performs actions so that the system's temperature is maintained near a desired setpoint. Thermostats are used in any device or system that heats or cools to a setpoint temperature, examples include building heating, central heating, air conditioners, HVAC systems, water heaters, as well as kitchen equipment including ovens and refrigerators and medical and scientific incubators.
MARKET DYNAMICS
Over the years, there has been a significant rise in the installation of smart home systems and technologies in households. This is one of the primary factors driving the growth of the global thermostat market. Moreover, there has been a surge in the sales of various smart home voice assistants such as Amazon Echo and Google Home which is further driving the growth of the market. In addition, as thermostats help in saving electricity, their sales have been influenced by the augmented demand for energy efficient solutions. This represents another factor which is positively influencing the market growth.
MARKET SCOPE
The ˜Global Thermostat Market Analysis to 2031" is a specialized and in-depth study of the consumer goods industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the thermostat market with detailed market segmentation by product, mode of operation, distribution channel and application. The global thermostat market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading thermostat market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The thermostat market is segmented by:
1. By Products: By products, the market is categorized as Smart Thermostats, Mechanical, Programmable, Non-Programmable, Manual and Others.
2. By Mode of Operation: The market is categorized into Line Voltage Thermostats, Low Voltage Thermostats, and Millivolt Thermostats.
3. By Distribution Channel: As per distribution channel, market is categorized into Utility, Retail, Security and Others.
4. By Application: Market is categorized into Residential, Commercial (Educational; Offices; Hospital and Others), and Industrial Uses.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The thermostat 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 thermostat market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the thermostat market in these regions.
IMPACT OF COVID 19
Thermostat market is highly dependent upon China for hardware manufacturing. According to Business Standard, the Chinese exports were badly affected by Covid-19 as the exports declined by 15.7% in April. The decline in the exports put thermostats manufactures in a tough position. Furthermore, the rise in tariffs on Chinese manufactured product by U.S. has also added pressure on Smart Thermostat manufacturers who are dependent on China for hardware.
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The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The thermostat 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 thermostat market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the thermostat market in these regions.
IMPACT OF COVID 19
Thermostat market is highly dependent upon China for hardware manufacturing. According to Business Standard, the Chinese exports were badly affected by Covid-19 as the exports declined by 15.7% in April. The decline in the exports put thermostats manufactures in a tough position. Furthermore, the rise in tariffs on Chinese manufactured product by U.S. has also added pressure on Smart Thermostat manufacturers who are dependent on China for hardware.
MARKET PLAYERS
The report covers vital developments in the thermostat 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 partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the thermostat market are anticipated to have lucrative growth opportunities in the future with the rising demand for thermostat in the global market. Below mentioned is the list of a few companies engaged in the thermostat market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the thermostat market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.
- Danfoss
- FSTB
- Hailin
- Honeywell Home
- Jiu Long Thermostat Factory
- Johnson Controls
- Otter Control
- Schneider Electric
- Shenzen Saswell Technology
- Siemens
The Insight Partners dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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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.
TABLE OF CONTENTS
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Thermostat Market - By Product
1.3.2Thermostat Market - By Mode of Operation
1.3.3Thermostat Market - By Distribution Channel
1.3.4Thermostat Market - By Application
1.3.5Thermostat Market - By Region
1.3.5.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.THERMOSTAT MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.THERMOSTAT 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.THERMOSTAT MARKET - GLOBAL MARKET ANALYSIS
6.1.THERMOSTAT - GLOBAL MARKET OVERVIEW
6.2.THERMOSTAT - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING
7.THERMOSTAT MARKET - REVENUE AND FORECASTS TO 2028 " PRODUCT
7.1.OVERVIEW
7.2.PRODUCT MARKET FORECASTS AND ANALYSIS
7.3.SMART THERMOSTATS
7.3.1.Overview
7.3.2.Smart Thermostats Market Forecast and Analysis
7.4.MECHANICAL
7.4.1.Overview
7.4.2.Mechanical Market Forecast and Analysis
7.5.PROGRAMMABLE
7.5.1.Overview
7.5.2.Programmable Market Forecast and Analysis
7.6.NON-PROGRAMMABLE
7.6.1.Overview
7.6.2.Non-Programmable Market Forecast and Analysis
7.7.MANUAL
7.7.1.Overview
7.7.2.Manual Market Forecast and Analysis
7.8.OTHERS.
7.8.1.Overview
7.8.2.Others. Market Forecast and Analysis
8.THERMOSTAT MARKET - REVENUE AND FORECASTS TO 2028 " MODE OF OPERATION
8.1.OVERVIEW
8.2.MODE OF OPERATION MARKET FORECASTS AND ANALYSIS
8.3.LINE VOLTAGE THERMOSTATS
8.3.1.Overview
8.3.2.Line Voltage Thermostats Market Forecast and Analysis
8.4.LOW VOLTAGE THERMOSTATS
8.4.1.Overview
8.4.2.Low Voltage Thermostats Market Forecast and Analysis
8.5.MILLIVOLT THERMOSTATS.
8.5.1.Overview
8.5.2.Millivolt Thermostats. Market Forecast and Analysis
9.THERMOSTAT MARKET - REVENUE AND FORECASTS TO 2028 " DISTRIBUTION CHANNEL
9.1.OVERVIEW
9.2.DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
9.3.UTILITY
9.3.1.Overview
9.3.2.Utility Market Forecast and Analysis
9.4.RETAIL
9.4.1.Overview
9.4.2.Retail Market Forecast and Analysis
9.5.SECURITY
9.5.1.Overview
9.5.2.Security Market Forecast and Analysis
9.6.OTHERS
9.6.1.Overview
9.6.2.Others Market Forecast and Analysis
10.THERMOSTAT MARKET - REVENUE AND FORECASTS TO 2028 " APPLICATION
10.1.OVERVIEW
10.2.APPLICATION MARKET FORECASTS AND ANALYSIS
10.3.RESIDENTIAL
10.3.1.Overview
10.3.2.Residential Market Forecast and Analysis
10.4.COMMERCIAL (EDUCATIONAL; OFFICES; HOSPITAL AND OTHERS)
10.4.1.Overview
10.4.2.Commercial (Educational; Offices; Hospital and Others) Market Forecast and Analysis
10.5.INDUSTRIAL USES.
10.5.1.Overview
10.5.2.Industrial Uses. Market Forecast and Analysis
11.THERMOSTAT MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
11.1.NORTH AMERICA
11.1.1North America Thermostat Market Overview
11.1.2North America Thermostat Market Forecasts and Analysis
11.1.3North America Thermostat Market Forecasts and Analysis - By Product
11.1.4North America Thermostat Market Forecasts and Analysis - By Mode of Operation
11.1.5North America Thermostat Market Forecasts and Analysis - By Distribution Channel
11.1.6North America Thermostat Market Forecasts and Analysis - By Application
11.1.7North America Thermostat Market Forecasts and Analysis - By Countries
11.1.7.1United States Thermostat Market
11.1.7.1.1United States Thermostat Market by Product
11.1.7.1.2United States Thermostat Market by Mode of Operation
11.1.7.1.3United States Thermostat Market by Distribution Channel
11.1.7.1.4United States Thermostat Market by Application
11.1.7.2Canada Thermostat Market
11.1.7.2.1Canada Thermostat Market by Product
11.1.7.2.2Canada Thermostat Market by Mode of Operation
11.1.7.2.3Canada Thermostat Market by Distribution Channel
11.1.7.2.4Canada Thermostat Market by Application
11.1.7.3Mexico Thermostat Market
11.1.7.3.1Mexico Thermostat Market by Product
11.1.7.3.2Mexico Thermostat Market by Mode of Operation
11.1.7.3.3Mexico Thermostat Market by Distribution Channel
11.1.7.3.4Mexico Thermostat Market by Application
11.2.EUROPE
11.2.1Europe Thermostat Market Overview
11.2.2Europe Thermostat Market Forecasts and Analysis
11.2.3Europe Thermostat Market Forecasts and Analysis - By Product
11.2.4Europe Thermostat Market Forecasts and Analysis - By Mode of Operation
11.2.5Europe Thermostat Market Forecasts and Analysis - By Distribution Channel
11.2.6Europe Thermostat Market Forecasts and Analysis - By Application
11.2.7Europe Thermostat Market Forecasts and Analysis - By Countries
11.2.7.1Germany Thermostat Market
11.2.7.1.1Germany Thermostat Market by Product
11.2.7.1.2Germany Thermostat Market by Mode of Operation
11.2.7.1.3Germany Thermostat Market by Distribution Channel
11.2.7.1.4Germany Thermostat Market by Application
11.2.7.2France Thermostat Market
11.2.7.2.1France Thermostat Market by Product
11.2.7.2.2France Thermostat Market by Mode of Operation
11.2.7.2.3France Thermostat Market by Distribution Channel
11.2.7.2.4France Thermostat Market by Application
11.2.7.3Italy Thermostat Market
11.2.7.3.1Italy Thermostat Market by Product
11.2.7.3.2Italy Thermostat Market by Mode of Operation
11.2.7.3.3Italy Thermostat Market by Distribution Channel
11.2.7.3.4Italy Thermostat Market by Application
11.2.7.4Spain Thermostat Market
11.2.7.4.1Spain Thermostat Market by Product
11.2.7.4.2Spain Thermostat Market by Mode of Operation
11.2.7.4.3Spain Thermostat Market by Distribution Channel
11.2.7.4.4Spain Thermostat Market by Application
11.2.7.5United Kingdom Thermostat Market
11.2.7.5.1United Kingdom Thermostat Market by Product
11.2.7.5.2United Kingdom Thermostat Market by Mode of Operation
11.2.7.5.3United Kingdom Thermostat Market by Distribution Channel
11.2.7.5.4United Kingdom Thermostat Market by Application
11.2.7.6Russia Thermostat Market
11.2.7.6.1Russia Thermostat Market by Product
11.2.7.6.2Russia Thermostat Market by Mode of Operation
11.2.7.6.3Russia Thermostat Market by Distribution Channel
11.2.7.6.4Russia Thermostat Market by Application
11.2.7.7Rest of Europe Thermostat Market
11.2.7.7.1Rest of Europe Thermostat Market by Product
11.2.7.7.2Rest of Europe Thermostat Market by Mode of Operation
11.2.7.7.3Rest of Europe Thermostat Market by Distribution Channel
11.2.7.7.4Rest of Europe Thermostat Market by Application
11.3.ASIA-PACIFIC
11.3.1Asia-Pacific Thermostat Market Overview
11.3.2Asia-Pacific Thermostat Market Forecasts and Analysis
11.3.3Asia-Pacific Thermostat Market Forecasts and Analysis - By Product
11.3.4Asia-Pacific Thermostat Market Forecasts and Analysis - By Mode of Operation
11.3.5Asia-Pacific Thermostat Market Forecasts and Analysis - By Distribution Channel
11.3.6Asia-Pacific Thermostat Market Forecasts and Analysis - By Application
11.3.7Asia-Pacific Thermostat Market Forecasts and Analysis - By Countries
11.3.7.1Australia Thermostat Market
11.3.7.1.1Australia Thermostat Market by Product
11.3.7.1.2Australia Thermostat Market by Mode of Operation
11.3.7.1.3Australia Thermostat Market by Distribution Channel
11.3.7.1.4Australia Thermostat Market by Application
11.3.7.2China Thermostat Market
11.3.7.2.1China Thermostat Market by Product
11.3.7.2.2China Thermostat Market by Mode of Operation
11.3.7.2.3China Thermostat Market by Distribution Channel
11.3.7.2.4China Thermostat Market by Application
11.3.7.3India Thermostat Market
11.3.7.3.1India Thermostat Market by Product
11.3.7.3.2India Thermostat Market by Mode of Operation
11.3.7.3.3India Thermostat Market by Distribution Channel
11.3.7.3.4India Thermostat Market by Application
11.3.7.4Japan Thermostat Market
11.3.7.4.1Japan Thermostat Market by Product
11.3.7.4.2Japan Thermostat Market by Mode of Operation
11.3.7.4.3Japan Thermostat Market by Distribution Channel
11.3.7.4.4Japan Thermostat Market by Application
11.3.7.5South Korea Thermostat Market
11.3.7.5.1South Korea Thermostat Market by Product
11.3.7.5.2South Korea Thermostat Market by Mode of Operation
11.3.7.5.3South Korea Thermostat Market by Distribution Channel
11.3.7.5.4South Korea Thermostat Market by Application
11.3.7.6Rest of Asia-Pacific Thermostat Market
11.3.7.6.1Rest of Asia-Pacific Thermostat Market by Product
11.3.7.6.2Rest of Asia-Pacific Thermostat Market by Mode of Operation
11.3.7.6.3Rest of Asia-Pacific Thermostat Market by Distribution Channel
11.3.7.6.4Rest of Asia-Pacific Thermostat Market by Application
11.4.MIDDLE EAST AND AFRICA
11.4.1Middle East and Africa Thermostat Market Overview
11.4.2Middle East and Africa Thermostat Market Forecasts and Analysis
11.4.3Middle East and Africa Thermostat Market Forecasts and Analysis - By Product
11.4.4Middle East and Africa Thermostat Market Forecasts and Analysis - By Mode of Operation
11.4.5Middle East and Africa Thermostat Market Forecasts and Analysis - By Distribution Channel
11.4.6Middle East and Africa Thermostat Market Forecasts and Analysis - By Application
11.4.7Middle East and Africa Thermostat Market Forecasts and Analysis - By Countries
11.4.7.1South Africa Thermostat Market
11.4.7.1.1South Africa Thermostat Market by Product
11.4.7.1.2South Africa Thermostat Market by Mode of Operation
11.4.7.1.3South Africa Thermostat Market by Distribution Channel
11.4.7.1.4South Africa Thermostat Market by Application
11.4.7.2Saudi Arabia Thermostat Market
11.4.7.2.1Saudi Arabia Thermostat Market by Product
11.4.7.2.2Saudi Arabia Thermostat Market by Mode of Operation
11.4.7.2.3Saudi Arabia Thermostat Market by Distribution Channel
11.4.7.2.4Saudi Arabia Thermostat Market by Application
11.4.7.3U.A.E Thermostat Market
11.4.7.3.1U.A.E Thermostat Market by Product
11.4.7.3.2U.A.E Thermostat Market by Mode of Operation
11.4.7.3.3U.A.E Thermostat Market by Distribution Channel
11.4.7.3.4U.A.E Thermostat Market by Application
11.4.7.4Rest of Middle East and Africa Thermostat Market
11.4.7.4.1Rest of Middle East and Africa Thermostat Market by Product
11.4.7.4.2Rest of Middle East and Africa Thermostat Market by Mode of Operation
11.4.7.4.3Rest of Middle East and Africa Thermostat Market by Distribution Channel
11.4.7.4.4Rest of Middle East and Africa Thermostat Market by Application
11.5.SOUTH AND CENTRAL AMERICA
11.5.1South and Central America Thermostat Market Overview
11.5.2South and Central America Thermostat Market Forecasts and Analysis
11.5.3South and Central America Thermostat Market Forecasts and Analysis - By Product
11.5.4South and Central America Thermostat Market Forecasts and Analysis - By Mode of Operation
11.5.5South and Central America Thermostat Market Forecasts and Analysis - By Distribution Channel
11.5.6South and Central America Thermostat Market Forecasts and Analysis - By Application
11.5.7South and Central America Thermostat Market Forecasts and Analysis - By Countries
11.5.7.1Brazil Thermostat Market
11.5.7.1.1Brazil Thermostat Market by Product
11.5.7.1.2Brazil Thermostat Market by Mode of Operation
11.5.7.1.3Brazil Thermostat Market by Distribution Channel
11.5.7.1.4Brazil Thermostat Market by Application
11.5.7.2Argentina Thermostat Market
11.5.7.2.1Argentina Thermostat Market by Product
11.5.7.2.2Argentina Thermostat Market by Mode of Operation
11.5.7.2.3Argentina Thermostat Market by Distribution Channel
11.5.7.2.4Argentina Thermostat Market by Application
11.5.7.3Rest of South and Central America Thermostat Market
11.5.7.3.1Rest of South and Central America Thermostat Market by Product
11.5.7.3.2Rest of South and Central America Thermostat Market by Mode of Operation
11.5.7.3.3Rest of South and Central America Thermostat Market by Distribution Channel
11.5.7.3.4Rest of South and Central America Thermostat Market by Application
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.THERMOSTAT MARKET, KEY COMPANY PROFILES
13.1.DANFOSS
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.FSTB
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.HAILIN
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.HONEYWELL HOME
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.JIU LONG THERMOSTAT FACTORY
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.JOHNSON CONTROLS
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.OTTER CONTROL
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.SCHNEIDER ELECTRIC
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.SHENZEN SASWELL TECHNOLOGY
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.SIEMENS
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
The List of Companies
1.Danfoss
2.FSTB
3.Hailin
4.Honeywell Home
5.Jiu Long Thermostat Factory
6.Johnson Controls
7.Otter Control
8.Schneider Electric
9.Shenzen Saswell Technology
10.Siemens
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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