US Sleepwear Market Size (2021-2031) and Regional Overview
The US sleepwear market size is projected to reach US$ 15.05 billion by 2031 from US$ 9.65 billion in 2023. The market is expected to register a CAGR of 5.7% during 2023–2031. As comfortable yet stylish ensembles are marking the beginning of a new trend in the US, clothing brands are focusing on providing comfortable outfits in the US sleepwear market
US Sleepwear Market Analysis
Oversized clothing is a popular type of sleepwear in the US, as it follows the trend of comfortable fashion. A few of the major clothing companies, such as VF Corp and Reformation, offer clothes with warm-weather styles with Tencel fibers. Effective direct endorsements, collaborations, and brand ambassadors of sleepwear brands help boost sales as well as differentiate a brand from competitors. Moreover, many companies offer product promotion codes and discounts to increase sales. Thus, most customers in the US shop or buy apparel through online channels.
US Sleepwear Market Overview
The COVID-19 pandemic led to lifestyle changes; as people experienced a shift toward remote work, the demand for comfortable clothing and sleepwear also grew. Sleepwear tops are made with breathable and soft fabrics such as cotton, satin, and silk that are gentle on the skin. Many companies offer promotion codes and discounts on products to increase sales, which are easily available in various stores. In August 2023, Macy’s partnered with Gap to launch exclusive sleepwear, which was available at supermarkets, company websites, and e-commerce mobile apps. Manufacturers mainly use light and subtle colors with minimal prints for top wear that complement the relaxing mood. Despite the high price tags, consumers willingly buy premium products that are gentle on the skin and provide maximum comfort. In 2023, Daniel Patrick, a high-end athletic streetwear designer, collaborated with Nissan to launch a limited line of performance-oriented sleepwear.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
US Sleepwear Market: Strategic Insights
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
US Sleepwear Market: Strategic Insights
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
US Sleepwear Market Drivers and Opportunities
Increasing Brand Endorsements by Celebrities and Social Media Influencers Favor Market Growth
Marketing strategies such as brand endorsement by celebrities and social media influencers help in leveraging the credibility and reach of well-known influencers and celebrities to boost brand awareness, drive sales, and create a strong market presence. As celebrities and influencers have a large follower base, they provide brands with extensive visibility. In December 2022, Lake Pajamas, a lifestyle apparel brand, introduced a two-piece collection of its signature style, which was endorsed by Jacey Duprie, an Instagram influencer. The collection launched in collaboration with Duprie’s fashion brand, Wyeth, as part of the company’s debut collection.
In the past few years, customers in the US, particularly Gen Z adults, have adopted several fashion trends. Social media and influencer marketing are luring Gen Z adults into novel fashion trends. In 2023, Lake Pajamas introduced a partnership with influencer Blair Eadie to design a 16-piece collection. Similarly, in 2023, Jennifer Garner’s (American actress) brand—Once Upon a Farm—collaborated with Little Sleepies, a sleepwear company, and launched the latter company’s signature cozy pajamas and accessories. Therefore, the increasing brand endorsements by celebrities and social media influencers fuel the US sleepwear market growth.
Growing Sales via Online Channels to Create Significant Opportunities
The emergence of e-commerce has transformed the way people shop and purchase apparel. The surge in penetration of the Internet and smartphones, increased purchasing power, quick access to emerging technologies, and convenience provided by online retail shopping platforms are among the major factors bolstering the e-commerce industry. According to the US Department of Commerce Retail Indicator Division, e-commerce sales in the US reached US$ 870 billion in 2021, up by 14.2% from 2020. As per the US Census Bureau of the Department of Commerce, the estimate of US retail e-commerce sales for the first quarter of 2024, adjusted for seasonal variation, was US$ 289.2 billion, an increase of 2.1% from the fourth quarter of 2023. With the rise in the e-commerce sector, the preference for online platforms is also growing.
Online channels provide a platform for brand awareness, product information, marketing, and showcasing product portfolios. Online channels such as e-commerce websites and social media platforms allow major companies to reach a broad consumer base. It offers consumers distinct sleepwear choices in terms of brands, fabric, designs, and styles, catering to the customer base of different regions. Online sales allow companies to streamline the distribution of products and adjust inventory levels based on product demand data. This further allows key manufacturers to understand region-wise consumer preferences and optimize product offerings. The proliferation of mobile applications has facilitated shopping on the go, making it convenient for consumers to purchase sleepwear anytime and anywhere. Online sales generate valuable data on consumer behavior and preferences as well as trends, enabling brands to tailor their offerings and marketing strategies. Thus, the rising apparel sales through online channels are expected to provide lucrative opportunities for the US sleepwear market growth during the forecast period.
US Sleepwear Market Report Segmentation Analysis
Key segments that contributed to the derivation of the US sleepwear market analysis are product type, end user, and distribution channel.
- Based on product type, the US sleepwear market is segmented into top wear, bottom wear, coveralls/one piece, and co-ords. The co-ords segment held the largest market share in 2023.
- By end user, the market is categorized into men, women, and kids. The women segment held the largest share of the market in 2023.
In terms of distribution channels, the US sleepwear market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. In 2023, the specialty stores segment dominated the market.
US Sleepwear Market Share Analysis by Region
The regional scope of the US sleepwear market report is mainly divided into Northeast, Southwest, West, Southeast, and Midwest.
In 2023, the West region held the largest share of the US sleepwear market and is projected to continue its dominance during the forecast period. As per the United States Census Bureau report released in December 2022, the West is the most urban region in the country, with 88.9% of its population residing in urban areas. According to the Bureau of Economic Analysis, the personal consumption expenditure for clothing and footwear in California grew from US$ 69,679 million in 2021 to US$ 76,923.8 million in 2022. The West Coast, particularly California, experiences mild climatic conditions affecting the demand for versatile and comfortable sleepwear. Consumers living in cities such as Los Angeles and San Francisco are early adopters of new trends and value sustainability and ethical production in their purchasing decisions. This is positively influencing the demand for trendy, eco-friendly, and innovative sleepwear.
US Sleepwear Market Report Scope
US Sleepwear Market News and Recent Developments
The US sleepwear market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the US sleepwear market are listed below:
- Macy's announced the launch of State of Day, a new restwear, sleepwear, and innerwear brand, an exciting addition to the company's ongoing reimagined private brands portfolio. The collection consists of a range of light, easy-to-layer pieces to soft pajamas to provide restorative sleep. (Source: Macy’s Inc, Press Release, February 2024)
- Olivia von Halle, a luxury nightwear label, collaborated with Jessica McCormack, a London-based jeweler, and launched a special pair of pajamas with diamond and ruby buttons. (Source: Olivia von Halle, Company Website, April 2024)
- Macy's and Gap announced a partnership to launch an exclusive collection of sleepwear, underwear, and intimates for men and women. This is the first-ever partnership between the two global brands, bridging Macy’s rich heritage and industry expertise with Gap’s legacy of modern American style. The product categories will offer an assortment of exclusive designs and colors that bring versatile classics, comfort, and effortless style to life. (Source: Gap Inc, Press Release, August 2023)
US Sleepwear Market Report Coverage and Deliverables
The “US Sleepwear Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- US sleepwear market size and forecast for all the key market segments covered under the scope
- US sleepwear market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed Porter’s Five Forces and SWOT analysis
- US sleepwear market analysis covering key market trends, country framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the US sleepwear market
- Detailed company profiles
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.
Frequently Asked Questions
The adoption of sustainable fabrics in sleepwear production is expected to emerge as a future trend in the market.
The market is expected to register a CAGR of 5.7% during 2023–2031.
Lunya, Luemme Inc (Cosabella), EBERJEY, Boody, Desmond & Dempsey, Olivia Von Halle, COYUCHI, MATE the Label, Organic Basic, Wear Pact LLC, and ASCENO are among the leading market players.
Rising demand for comfortable clothing and increasing brand endorsements by celebrities and social media influencers drive the market.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Market Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. US Sleepwear Market Landscape
4.1 Market Overview
4.2 Porters Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Sleepwear Manufacturers
4.3.3 Distributors/Suppliers
4.3.4 Distribution Channel
4.4 List of Vendors in Value Chain
5. US Sleepwear Market – Key Market Dynamics
5.1 US Sleepwear Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Rising Demand for Comfortable Clothing
5.2.2 Increasing Brand Endorsements by Celebrities and Social Media Influencers
5.3 Market Restraints
5.3.1 Presence of Counterfeit Clothes
5.4 Market Opportunities
5.4.1 Growing Sales through Online Channels
5.5 Future Trends
5.5.1 Adoption of Sustainable Fabrics in Sleepwear Production
5.6 Impact of Drivers and Restraints:
6. US Sleepwear Market Analysis
6.1 US Sleepwear Market Volume (Million Units), 2021-2031
6.2 US Sleepwear Market Volume Forecast and Analysis (Million Units)
6.3 US Sleepwear Market Revenue (US$ Million), 2021-2031
6.4 US Sleepwear Market Forecast and Analysis
7. US Sleepwear Market Volume and Revenue Analysis – by Product Type
7.1 Top Wear
7.1.1 Overview
7.1.2 Top Wear: US Sleepwear Market – Volume and Forecast to 2031 (Million Units)
7.1.3 Top Wear: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Bottom Wear
7.2.1 Overview
7.2.2 Bottom Wear: US Sleepwear Market – Volume and Forecast to 2031 (Million Units)
7.2.3 Bottom Wear: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
7.3 Coveralls/One Piece
7.3.1 Overview
7.3.2 Coveralls/One Piece: US Sleepwear Market – Volume and Forecast to 2031 (Million Units)
7.3.3 Coveralls/One Piece: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
7.4 Co-ords
7.4.1 Overview
7.4.2 Co-ords: US Sleepwear Market – Volume and Forecast to 2031 (Million Units)
7.4.3 Co-ords: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
8. US Sleepwear Market Revenue Analysis – by End User
8.1 Men
8.1.1 Overview
8.1.2 Men: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Women
8.2.1 Overview
8.2.2 Women: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Kids
8.3.1 Overview
8.3.2 Kids: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
9. US Sleepwear Market Revenue Analysis – by Distribution Channel
9.1 Supermarkets and Hypermarkets
9.1.1 Overview
9.1.2 Supermarkets and Hypermarkets: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
9.2 Specialty Stores
9.2.1 Overview
9.2.2 Specialty Stores: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
9.3 Online Retail
9.3.1 Overview
9.3.2 Online Retail: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
9.4 Others
9.4.1 Overview
9.4.2 Others: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
10. US Sleepwear Market – Regional Analysis
10.1 US
10.1.1 US Sleepwear Market Breakdown by Region
10.1.2 US Sleepwear Market Revenue and Forecast and Analysis – by Region
10.1.2.1 US Sleepwear Market Volume and Forecast and Analysis – by Region
10.1.2.2 US Sleepwear Market Revenue and Forecast and Analysis –by Region
10.1.2.3 Northeast: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
10.1.2.3.1 Northeast: US Sleepwear Market Breakdown by Product Type
10.1.2.3.2 Northeast: US Sleepwear Market Breakdown by End User
10.1.2.3.3 Northeast: US Sleepwear Market Breakdown by Distribution Channel
10.1.2.4 Southwest: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
10.1.2.4.1 Southwest: US Sleepwear Market Breakdown by Product Type
10.1.2.4.2 Southwest: US Sleepwear Market Breakdown by End User
10.1.2.4.3 Southwest: US Sleepwear Market Breakdown by Distribution Channel
10.1.2.5 West: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
10.1.2.5.1 West: US Sleepwear Market Breakdown by Product Type
10.1.2.5.2 West: US Sleepwear Market Breakdown by End User
10.1.2.5.3 West: US Sleepwear Market Breakdown by Distribution Channel
10.1.2.6 Southeast: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
10.1.2.6.1 Southeast: US Sleepwear Market Breakdown by Product Type
10.1.2.6.2 Southeast: US Sleepwear Market Breakdown by End User
10.1.2.6.3 Southeast: US Sleepwear Market Breakdown by Distribution Channel
10.1.2.7 Midwest: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
10.1.2.7.1 Midwest: US Sleepwear Market Breakdown by Product Type
10.1.2.7.2 Midwest: US Sleepwear Market Breakdown by End User
10.1.2.7.3 Midwest: US Sleepwear Market Breakdown by Distribution Channel
11. Competitive Landscape
11.1 Heat Map Analysis
11.2 Company Positioning and Concentration
11.3 Company Market Share – 2023
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product News & Company News
13. Company Profiles
13.1 Lunya
13.1.1 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 Luemme Inc (Cosabella)
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 EBERJEY
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 Boody
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 Desmond & Dempsey
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 OLIVIA VON HALLE
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 COYUCHI
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 MATE the Label
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 Organic Basic
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 Wear Pact, LLC
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
13.11 ASCENO
13.11.1 Key Facts
13.11.2 Business Description
13.11.3 Products and Services
13.11.4 Financial Overview
13.11.5 SWOT Analysis
13.11.6 Key Developments
14. Appendix
14.1 About The Insight Partners
List of Tables
Table 1. US Sleepwear Market Segmentation
Table 2. List of Vendors in Value Chain
Table 3. US Sleepwear Market – Volume and Forecast to 2031 (Million Units)
Table 4. US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
Table 5. US Sleepwear Market – Volume and Forecast to 2031 (Million Units) – by Product Type
Table 6. US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 7. US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 8. US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by Distribution Channel
Table 9. US Sleepwear Market – Volume and Forecast to 2031 (Million Units) – by Region
Table 10. US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by Region
Table 11. Northeast: US Sleepwear Market –Volume and Forecast to 2031 (Million Units) – by Product Type
Table 12. Northeast: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 13. Northeast: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 14. Northeast: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by Distribution Channel
Table 15. Southwest: US Sleepwear Market –Volume and Forecast to 2031 (Million Units) – by Product Type
Table 16. Southwest: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 17. Southwest: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 18. Southwest: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by Distribution Channel
Table 19. West: US Sleepwear Market –Volume and Forecast to 2031 (Million Units) – by Product Type
Table 20. West: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 21. West: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 22. West: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by Distribution Channel
Table 23. Southeast: US Sleepwear Market –Volume and Forecast to 2031 (Million Units) – by Product Type
Table 24. Southeast: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 25. Southeast: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 26. Southeast: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by Distribution Channel
Table 27. Midwest: US Sleepwear Market –Volume and Forecast to 2031 (Million Units) – by Product Type
Table 28. Midwest: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 29. Midwest: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 30. Midwest: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million) – by Distribution Channel
Table 31. Company Market Share - 2023
List of Figures
Figure 1. US Sleepwear Market Segmentation, by Geography
Figure 2. US Sleepwear Market—Porter's Five Forces Analysis
Figure 3. Ecosystem Analysis: US Sleepwear Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. US Sleepwear Market Volume (Million Units), 2021-2031
Figure 6. US Sleepwear Market Revenue (US$ Million), 2021-2031
Figure 7. US Sleepwear Market Share (%) – Product Type, 2023 and 2031
Figure 8. Top Wear: US Sleepwear Market – Volume and Forecast to 2031(Million Units)
Figure 9. Top Wear: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
Figure 10. Bottom Wear: US Sleepwear Market – Volume and Forecast to 2031(Million Units)
Figure 11. Bottom Wear: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
Figure 12. Coveralls/One Piece: US Sleepwear Market – Volume and Forecast to 2031(Million Units)
Figure 13. Coveralls/One Piece: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Co-ords: US Sleepwear Market – Volume and Forecast to 2031(Million Units)
Figure 15. Co-ords: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
Figure 16. US Sleepwear Market Share (%) – End User, 2023 and 2031
Figure 17. Men: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. Women: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
Figure 19. Kids: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
Figure 20. US Sleepwear Market Share (%) – Distribution Channel, 2023 and 2031
Figure 21. Supermarkets and Hypermarkets: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
Figure 22. Specialty Stores: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
Figure 23. Online Retail: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
Figure 24. Others: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
Figure 25. US Sleepwear Market Breakdown by Key Regions, 2023 and 2031 (%)
Figure 26. Northeast: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
Figure 27. Southwest: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
Figure 28. West: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
Figure 29. Southeast: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
Figure 30. Midwest: US Sleepwear Market – Revenue and Forecast to 2031 (US$ Million)
Figure 31. Heat Map Analysis
Figure 32. Company Positioning and Concentration
The List of Companies - US Sleepwear Market
- Lunya
- Luemme Inc (Cosabella)
- EBERJEY
- Boody
- Desmond & Dempsey
- Olivia Von Halle
- COYUCHI
- MATE the Label
- Organic Basic
- Wear Pact LLC
- ASCENO
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.
Get Free Sample For