Vehicle Active Suspension System Market Drivers - 2031
The Vehicle Active Suspension System Market is expected to register a CAGR of 4.5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
Vehicle Active Suspension System Market covers analysis By Product (Hydraulic Actuators, Pneumatic Actuators, Electromagnetic Actuators); Suspension System (Pure Active Suspension System, Semi-Active Suspension System); Vehicle Type (Passenger Vehicle, Commercial Vehicle, Others) , and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America)
Purpose of the ReportThe report Vehicle Active Suspension System 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.
Vehicle Active Suspension System Market Segmentation
By Product- Hydraulic Actuators
- Pneumatic Actuators
- Electromagnetic Actuators;
- Pure Active Suspension System
- Semi-Active Suspension System;
- Passenger Vehicle
- Commercial Vehicle
- Others
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South & Central America
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South & Central America
Strategic Insights
Vehicle Active Suspension System Market Growth Drivers- Demand for Improved Ride Comfort and Handling Performance: Active suspension systems provide better ride comfort through continuous adjustment of the suspension based on road conditions, thus resulting in a smoother and more stable ride. As consumers demand better driving experiences, especially in luxury and premium vehicles, automakers are increasingly adopting active suspension systems to offer improved performance and comfort.
- Growth in Electric and Autonomous Vehicles: Electric vehicles and autonomous vehicles are the emerging technologies that are making active suspension systems popular. Active suspension systems are useful for electric vehicles since they have a lower center of gravity and are heavier due to battery packs. The same thing applies to autonomous vehicles, as they require advanced suspension technologies in order to handle the precise control needed for safe, smooth navigation.
- Technological Advancements in Suspension Systems: Advances in sensor technology, actuators, and electronic control systems are making active suspension systems more affordable and efficient. With these technologies, the suspension can be adjusted in real-time based on road conditions, vehicle speed, and driving behavior, which is expected to improve vehicle dynamics and safety.
- Integration with Autonomous Driving Technologies: Autonomous driving technologies can be combined with active suspension systems. This can enhance vehicle stability by providing a better ride experience under high-speed maneuvers or through a complex environment. As autonomous technology continues to mature, there may be an opportunity for active suspension systems to play a significant role in ensuring safe and smooth operating conditions in fully autonomous or semi-autonomous vehicles.
- Shift Toward Electrification and Light weighting: Automakers are focusing on the reduction of vehicle weight and increasing energy efficiency. Active suspension systems are becoming lighter and more energy-efficient in this regard. Electrification in vehicles is a trend that is pushing the development of more compact and efficient active suspension systems, especially for EVs, where energy efficiency and reduced weight are critical for maximizing range.
- Rising merger and acquisition: Rising merger and acquisitionactivities by the key players in the market to develop the advanced vehicle active suspension system market growth during the forecast period. For instance, In December 2022, Magnaflow Group completed the acquisition of Camburg Engineering, off-road vehicle's aftermarket suspension company. The company designed suspension related parts for the off-road vehicles. In December 2022, Fleetpride completed the acquisition of Keystone Spring Service. Keystone Spring Service offers automotive suspension system, hydraulics, and truck's parts.
- Semi-Active and Fully Active Systems Adoption: There is a shift towards semi-active and fully active suspension systems from the traditional passive suspension systems. Semi-active systems, which adjust the damping force based on road conditions, are less expensive than fully active systems but provide substantial improvements in vehicle stability and comfort. However, fully active systems are becoming more popular in high-performance vehicles because of their superior control and adaptability.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Vehicle Active Suspension System 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 Vehicle Active Suspension System 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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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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Frequently Asked Questions
The Vehicle Active Suspension System Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: by Type (Hydraulic, Pneumatic); Design (Twin Tube, Mono Tube); Vehicle Type (Passenger Cars, Commercial Vehicles) , and Geography (North America, Europe, Asia Pacific, and South and Central America) is estimated to witness a CAGR of 4.5% from 2023 to 2031
The major factors driving the vehicle active suspension system market are: Demand for Improved Ride Comfort and Handling Performance, Growth in Electric and Autonomous Vehicles, and Technological Advancements in Suspension Systems
High manufacturing costs of the vehicle active suspension system hinders the market growth.
The major players in the market includes Continental AG,ThyssenKrupp AG, Fox Factory Inc., KYB Corporation, Gabriel India Limited, BENTELER, Hendrickson L.L.C., Morelli Corporation, ZF Friedrichshafen AG, and Tenneco Inc.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on the request are an additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Vehicle Active Suspension System Market - By Product
1.3.2 Vehicle Active Suspension System Market - By Suspension System
1.3.3 Vehicle Active Suspension System Market - By Vehicle Type
1.3.4 Vehicle Active Suspension System Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. VEHICLE ACTIVE SUSPENSION SYSTEM MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. VEHICLE ACTIVE SUSPENSION SYSTEM 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. VEHICLE ACTIVE SUSPENSION SYSTEM MARKET - GLOBAL MARKET ANALYSIS
6.1. VEHICLE ACTIVE SUSPENSION SYSTEM - GLOBAL MARKET OVERVIEW
6.2. VEHICLE ACTIVE SUSPENSION SYSTEM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. VEHICLE ACTIVE SUSPENSION SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. HYDRAULIC ACTUATORS
7.3.1. Overview
7.3.2. Hydraulic Actuators Market Forecast and Analysis
7.4. PNEUMATIC ACTUATORS
7.4.1. Overview
7.4.2. Pneumatic Actuators Market Forecast and Analysis
7.5. ELECTROMAGNETIC ACTUATORS
7.5.1. Overview
7.5.2. Electromagnetic Actuators Market Forecast and Analysis
8. VEHICLE ACTIVE SUSPENSION SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - SUSPENSION SYSTEM
8.1. OVERVIEW
8.2. SUSPENSION SYSTEM MARKET FORECASTS AND ANALYSIS
8.3. PURE ACTIVE SUSPENSION SYSTEM
8.3.1. Overview
8.3.2. Pure Active Suspension System Market Forecast and Analysis
8.4. SEMI-ACTIVE SUSPENSION SYSTEM
8.4.1. Overview
8.4.2. Semi-Active Suspension System Market Forecast and Analysis
9. VEHICLE ACTIVE SUSPENSION SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
9.1. OVERVIEW
9.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
9.3. PASSENGER VEHICLE
9.3.1. Overview
9.3.2. Passenger Vehicle Market Forecast and Analysis
9.4. COMMERCIAL VEHICLE
9.4.1. Overview
9.4.2. Commercial Vehicle Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. VEHICLE ACTIVE SUSPENSION SYSTEM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Vehicle Active Suspension System Market Overview
10.1.2 North America Vehicle Active Suspension System Market Forecasts and Analysis
10.1.3 North America Vehicle Active Suspension System Market Forecasts and Analysis - By Product
10.1.4 North America Vehicle Active Suspension System Market Forecasts and Analysis - By Suspension System
10.1.5 North America Vehicle Active Suspension System Market Forecasts and Analysis - By Vehicle Type
10.1.6 North America Vehicle Active Suspension System Market Forecasts and Analysis - By Countries
10.1.6.1 United States Vehicle Active Suspension System Market
10.1.6.1.1 United States Vehicle Active Suspension System Market by Product
10.1.6.1.2 United States Vehicle Active Suspension System Market by Suspension System
10.1.6.1.3 United States Vehicle Active Suspension System Market by Vehicle Type
10.1.6.2 Canada Vehicle Active Suspension System Market
10.1.6.2.1 Canada Vehicle Active Suspension System Market by Product
10.1.6.2.2 Canada Vehicle Active Suspension System Market by Suspension System
10.1.6.2.3 Canada Vehicle Active Suspension System Market by Vehicle Type
10.1.6.3 Mexico Vehicle Active Suspension System Market
10.1.6.3.1 Mexico Vehicle Active Suspension System Market by Product
10.1.6.3.2 Mexico Vehicle Active Suspension System Market by Suspension System
10.1.6.3.3 Mexico Vehicle Active Suspension System Market by Vehicle Type
10.2. EUROPE
10.2.1 Europe Vehicle Active Suspension System Market Overview
10.2.2 Europe Vehicle Active Suspension System Market Forecasts and Analysis
10.2.3 Europe Vehicle Active Suspension System Market Forecasts and Analysis - By Product
10.2.4 Europe Vehicle Active Suspension System Market Forecasts and Analysis - By Suspension System
10.2.5 Europe Vehicle Active Suspension System Market Forecasts and Analysis - By Vehicle Type
10.2.6 Europe Vehicle Active Suspension System Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Vehicle Active Suspension System Market
10.2.6.1.1 Germany Vehicle Active Suspension System Market by Product
10.2.6.1.2 Germany Vehicle Active Suspension System Market by Suspension System
10.2.6.1.3 Germany Vehicle Active Suspension System Market by Vehicle Type
10.2.6.2 France Vehicle Active Suspension System Market
10.2.6.2.1 France Vehicle Active Suspension System Market by Product
10.2.6.2.2 France Vehicle Active Suspension System Market by Suspension System
10.2.6.2.3 France Vehicle Active Suspension System Market by Vehicle Type
10.2.6.3 Italy Vehicle Active Suspension System Market
10.2.6.3.1 Italy Vehicle Active Suspension System Market by Product
10.2.6.3.2 Italy Vehicle Active Suspension System Market by Suspension System
10.2.6.3.3 Italy Vehicle Active Suspension System Market by Vehicle Type
10.2.6.4 United Kingdom Vehicle Active Suspension System Market
10.2.6.4.1 United Kingdom Vehicle Active Suspension System Market by Product
10.2.6.4.2 United Kingdom Vehicle Active Suspension System Market by Suspension System
10.2.6.4.3 United Kingdom Vehicle Active Suspension System Market by Vehicle Type
10.2.6.5 Russia Vehicle Active Suspension System Market
10.2.6.5.1 Russia Vehicle Active Suspension System Market by Product
10.2.6.5.2 Russia Vehicle Active Suspension System Market by Suspension System
10.2.6.5.3 Russia Vehicle Active Suspension System Market by Vehicle Type
10.2.6.6 Rest of Europe Vehicle Active Suspension System Market
10.2.6.6.1 Rest of Europe Vehicle Active Suspension System Market by Product
10.2.6.6.2 Rest of Europe Vehicle Active Suspension System Market by Suspension System
10.2.6.6.3 Rest of Europe Vehicle Active Suspension System Market by Vehicle Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Vehicle Active Suspension System Market Overview
10.3.2 Asia-Pacific Vehicle Active Suspension System Market Forecasts and Analysis
10.3.3 Asia-Pacific Vehicle Active Suspension System Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Vehicle Active Suspension System Market Forecasts and Analysis - By Suspension System
10.3.5 Asia-Pacific Vehicle Active Suspension System Market Forecasts and Analysis - By Vehicle Type
10.3.6 Asia-Pacific Vehicle Active Suspension System Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Vehicle Active Suspension System Market
10.3.6.1.1 Australia Vehicle Active Suspension System Market by Product
10.3.6.1.2 Australia Vehicle Active Suspension System Market by Suspension System
10.3.6.1.3 Australia Vehicle Active Suspension System Market by Vehicle Type
10.3.6.2 China Vehicle Active Suspension System Market
10.3.6.2.1 China Vehicle Active Suspension System Market by Product
10.3.6.2.2 China Vehicle Active Suspension System Market by Suspension System
10.3.6.2.3 China Vehicle Active Suspension System Market by Vehicle Type
10.3.6.3 India Vehicle Active Suspension System Market
10.3.6.3.1 India Vehicle Active Suspension System Market by Product
10.3.6.3.2 India Vehicle Active Suspension System Market by Suspension System
10.3.6.3.3 India Vehicle Active Suspension System Market by Vehicle Type
10.3.6.4 Japan Vehicle Active Suspension System Market
10.3.6.4.1 Japan Vehicle Active Suspension System Market by Product
10.3.6.4.2 Japan Vehicle Active Suspension System Market by Suspension System
10.3.6.4.3 Japan Vehicle Active Suspension System Market by Vehicle Type
10.3.6.5 South Korea Vehicle Active Suspension System Market
10.3.6.5.1 South Korea Vehicle Active Suspension System Market by Product
10.3.6.5.2 South Korea Vehicle Active Suspension System Market by Suspension System
10.3.6.5.3 South Korea Vehicle Active Suspension System Market by Vehicle Type
10.3.6.6 Rest of Asia-Pacific Vehicle Active Suspension System Market
10.3.6.6.1 Rest of Asia-Pacific Vehicle Active Suspension System Market by Product
10.3.6.6.2 Rest of Asia-Pacific Vehicle Active Suspension System Market by Suspension System
10.3.6.6.3 Rest of Asia-Pacific Vehicle Active Suspension System Market by Vehicle Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Vehicle Active Suspension System Market Overview
10.4.2 Middle East and Africa Vehicle Active Suspension System Market Forecasts and Analysis
10.4.3 Middle East and Africa Vehicle Active Suspension System Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Vehicle Active Suspension System Market Forecasts and Analysis - By Suspension System
10.4.5 Middle East and Africa Vehicle Active Suspension System Market Forecasts and Analysis - By Vehicle Type
10.4.6 Middle East and Africa Vehicle Active Suspension System Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Vehicle Active Suspension System Market
10.4.6.1.1 South Africa Vehicle Active Suspension System Market by Product
10.4.6.1.2 South Africa Vehicle Active Suspension System Market by Suspension System
10.4.6.1.3 South Africa Vehicle Active Suspension System Market by Vehicle Type
10.4.6.2 Saudi Arabia Vehicle Active Suspension System Market
10.4.6.2.1 Saudi Arabia Vehicle Active Suspension System Market by Product
10.4.6.2.2 Saudi Arabia Vehicle Active Suspension System Market by Suspension System
10.4.6.2.3 Saudi Arabia Vehicle Active Suspension System Market by Vehicle Type
10.4.6.3 U.A.E Vehicle Active Suspension System Market
10.4.6.3.1 U.A.E Vehicle Active Suspension System Market by Product
10.4.6.3.2 U.A.E Vehicle Active Suspension System Market by Suspension System
10.4.6.3.3 U.A.E Vehicle Active Suspension System Market by Vehicle Type
10.4.6.4 Rest of Middle East and Africa Vehicle Active Suspension System Market
10.4.6.4.1 Rest of Middle East and Africa Vehicle Active Suspension System Market by Product
10.4.6.4.2 Rest of Middle East and Africa Vehicle Active Suspension System Market by Suspension System
10.4.6.4.3 Rest of Middle East and Africa Vehicle Active Suspension System Market by Vehicle Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Vehicle Active Suspension System Market Overview
10.5.2 South and Central America Vehicle Active Suspension System Market Forecasts and Analysis
10.5.3 South and Central America Vehicle Active Suspension System Market Forecasts and Analysis - By Product
10.5.4 South and Central America Vehicle Active Suspension System Market Forecasts and Analysis - By Suspension System
10.5.5 South and Central America Vehicle Active Suspension System Market Forecasts and Analysis - By Vehicle Type
10.5.6 South and Central America Vehicle Active Suspension System Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Vehicle Active Suspension System Market
10.5.6.1.1 Brazil Vehicle Active Suspension System Market by Product
10.5.6.1.2 Brazil Vehicle Active Suspension System Market by Suspension System
10.5.6.1.3 Brazil Vehicle Active Suspension System Market by Vehicle Type
10.5.6.2 Argentina Vehicle Active Suspension System Market
10.5.6.2.1 Argentina Vehicle Active Suspension System Market by Product
10.5.6.2.2 Argentina Vehicle Active Suspension System Market by Suspension System
10.5.6.2.3 Argentina Vehicle Active Suspension System Market by Vehicle Type
10.5.6.3 Rest of South and Central America Vehicle Active Suspension System Market
10.5.6.3.1 Rest of South and Central America Vehicle Active Suspension System Market by Product
10.5.6.3.2 Rest of South and Central America Vehicle Active Suspension System Market by Suspension System
10.5.6.3.3 Rest of South and Central America Vehicle Active Suspension System Market by Vehicle Type
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. VEHICLE ACTIVE SUSPENSION SYSTEM MARKET, KEY COMPANY PROFILES
12.1. TENNECO INC
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. BOSE 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. CONTINENTAL AG
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. ZF FRIEDRICHSHAFEN
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. BORGWARNER INC
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. THYSSENKRUPP AG
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. DAIMLER AG
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. QUANSER INC.
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. BEIJINGWEST INDUSTRIES
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. WABCO VEHICLE CONTROL SYSTEMS
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. Tenneco Inc
2. Bose Corporation
3. Continental AG
4. ZF Friedrichshafen
5. BorgWarner Inc
6. thyssenkrupp AG
7. Daimler AG
8. Quanser Inc.
9. BeijingWest Industries
10. WABCO Vehicle Control Systems
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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