The visitor management system market is expected to register a CAGR of 14.1% during 2023–2031. Contactless visitor management is likely to remain a key trend in the market.
Visitor Management System Market Analysis
- The visitor management system market includes growth prospects owing to the current market trends and their foreseeable impact during the forecast period.
- The visitor management system market is growing owing to factors such as increased emphasis on security and safety, increasing use of biometric technology for visitor identity verification, and rapid adoption of smartphones.
- Integration with advanced technologies such as AI and analytics to provide lucrative opportunities for the cloud collaboration market.
Visitor Management System Market Overview
- Visitor management refers to the process of welcoming visitors and employees onto the premises of a business and managing their presence.
- Visitor management system benefits organizations with features such as customizable check-in processes and two-way communication, adding an extra layer to ensure workplace compliance requirements and keep data accurate.
- VMS features help to increase efficiency in workflows. This system saves time and helps in gaining productivity.
- Digital visitor management systems help with better data collection which is transferred to CRM for providing special offers to potential clients and information to vendors.
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Visitor Management System Market: Strategic Insights
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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.
Visitor Management System Market: Strategic Insights
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Visitor Management System Market Drivers and Opportunities
Increased Emphasis on Security And Safety to Favor Market
- Security and safety are top concerns for enterprises and organizations in the modern world. Visitor management systems are now a necessary tool for efficiently managing visitors in order to address this issue.
- For companies of all sizes, security is a primary concern. Visitor management systems can contribute to increased safety and security in a variety of ways.
- This may include features such as facial recognition, ID scanning, and real-time background checks.
- Businesses can guarantee that only authorized guests are allowed entry into their facilities by implementing these features.
Integration With Advanced Technologies Such as AI and Analytics
- VMS solutions use artificial intelligence (AI) and analytics to offer thorough data analysis, automatically identify suspicious activity, and obtain insights into visitor behavior and preferences.
- Additionally, analytics technologies can offer insightful data on visitor behavior and preferences, helping organizations enhance customer happiness and operational efficiency.
- AI can revolutionize the visitor management industry, helping organizations manage their visitors even better.
Visitor Management System Market Report Segmentation Analysis
Key segments that contributed to the derivation of the visitor management system market analysis are component, organization size, and end users.
- By component, the market is bifurcated into software and services.
- By organization size, the market is bifurcated into large enterprises and small and medium-sized enterprises.
- By end users, the market is segmented into BFSI, IT & telecom, retail, healthcare, manufacturing, government, and others.
Visitor Management System Market Share Analysis by Geography
- The visitor management system market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering visitor management system market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the visitor management system market in these regions.
Visitor Management System Market Report Scope
Visitor Management System Market News and Recent Developments
The visitor management system 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 visitor management system market are listed below:
- Eptura announced expanded visitor management capabilities within the Eptura unified work tech platform. Eptura Workplace combines workspace planning with new visitor management capabilities that grant organizations greater control over the visitor experience while increasing workplace security at scale. These capabilities allow businesses to understand underlying building usage trends and make smarter decisions regarding office utilization. (Source: Eptura, Press Release, March 2023)
- Sharp and NIWA partner to improve their visitor management system, resulting in a secure and efficient sign-in process that is tailored to their specific requirements. (Source: Sharp, Press Release, March 2024)
Visitor Management System Market Report Coverage and Deliverables
The “Visitor Management System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Visitor management system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Visitor management system market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Visitor management system market analysis covering key market trends, global and regional 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 visitor management system 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 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.
The leading players operating in the visitor management system market are Honeywell; Pitney Bowes; SmartSpace Software PLC; Eptura; Envoy; AlertEnterprise; HID Global; Genetec; MRI Software; and Jolly Technologies
Contactless visitor management is anticipated to play a significant role in the global visitor management system market in the coming years.
The global visitor management system market is expected to grow at a CAGR of 14.1% during the forecast period 2024 - 2031.
Increased emphasis on security and safety, increasing use of biometric technology for visitor identity verification, and rapid adoption of smartphones are the major factors driving the visitor management system market.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Visitor Management System Market - By Component
1.3.2 Visitor Management System Market - By Deployment Type
1.3.3 Visitor Management System Market - By Application
1.3.4 Visitor Management System Market - By Industry
1.3.5 Visitor Management System Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. VISITOR MANAGEMENT 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. VISITOR MANAGEMENT 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. VISITOR MANAGEMENT SYSTEM MARKET - GLOBAL MARKET ANALYSIS
6.1. VISITOR MANAGEMENT SYSTEM - GLOBAL MARKET OVERVIEW
6.2. VISITOR MANAGEMENT SYSTEM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. VISITOR MANAGEMENT SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. SOFTWARE
7.3.1. Overview
7.3.2. Software Market Forecast and Analysis
7.4. SERVICES
7.4.1. Overview
7.4.2. Services Market Forecast and Analysis
8. VISITOR MANAGEMENT SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT TYPE
8.1. OVERVIEW
8.2. DEPLOYMENT TYPE MARKET FORECASTS AND ANALYSIS
8.3. ON-PREMISE
8.3.1. Overview
8.3.2. On-Premise Market Forecast and Analysis
8.4. CLOUD
8.4.1. Overview
8.4.2. Cloud Market Forecast and Analysis
9. VISITOR MANAGEMENT SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. SECURITY MANAGEMENT
9.3.1. Overview
9.3.2. Security Management Market Forecast and Analysis
9.4. PARKING MANAGEMENT
9.4.1. Overview
9.4.2. Parking Management Market Forecast and Analysis
9.5. HISTORICAL VISITOR TRACKING
9.5.1. Overview
9.5.2. Historical Visitor Tracking Market Forecast and Analysis
10. VISITOR MANAGEMENT SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY
10.1. OVERVIEW
10.2. INDUSTRY MARKET FORECASTS AND ANALYSIS
10.3. BFSI
10.3.1. Overview
10.3.2. BFSI Market Forecast and Analysis
10.4. RETAIL
10.4.1. Overview
10.4.2. Retail Market Forecast and Analysis
10.5. IT AND TELECOM
10.5.1. Overview
10.5.2. IT and Telecom Market Forecast and Analysis
10.6. MANUFACTURING
10.6.1. Overview
10.6.2. Manufacturing Market Forecast and Analysis
10.7. TRAVEL AND HOSPITALITY
10.7.1. Overview
10.7.2. Travel and Hospitality Market Forecast and Analysis
10.8. HEALTHCARE
10.8.1. Overview
10.8.2. Healthcare Market Forecast and Analysis
10.9. OTHERS
10.9.1. Overview
10.9.2. Others Market Forecast and Analysis
11. VISITOR MANAGEMENT SYSTEM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Visitor Management System Market Overview
11.1.2 North America Visitor Management System Market Forecasts and Analysis
11.1.3 North America Visitor Management System Market Forecasts and Analysis - By Component
11.1.4 North America Visitor Management System Market Forecasts and Analysis - By Deployment Type
11.1.5 North America Visitor Management System Market Forecasts and Analysis - By Application
11.1.6 North America Visitor Management System Market Forecasts and Analysis - By Industry
11.1.7 North America Visitor Management System Market Forecasts and Analysis - By Countries
11.1.7.1 United States Visitor Management System Market
11.1.7.1.1 United States Visitor Management System Market by Component
11.1.7.1.2 United States Visitor Management System Market by Deployment Type
11.1.7.1.3 United States Visitor Management System Market by Application
11.1.7.1.4 United States Visitor Management System Market by Industry
11.1.7.2 Canada Visitor Management System Market
11.1.7.2.1 Canada Visitor Management System Market by Component
11.1.7.2.2 Canada Visitor Management System Market by Deployment Type
11.1.7.2.3 Canada Visitor Management System Market by Application
11.1.7.2.4 Canada Visitor Management System Market by Industry
11.1.7.3 Mexico Visitor Management System Market
11.1.7.3.1 Mexico Visitor Management System Market by Component
11.1.7.3.2 Mexico Visitor Management System Market by Deployment Type
11.1.7.3.3 Mexico Visitor Management System Market by Application
11.1.7.3.4 Mexico Visitor Management System Market by Industry
11.2. EUROPE
11.2.1 Europe Visitor Management System Market Overview
11.2.2 Europe Visitor Management System Market Forecasts and Analysis
11.2.3 Europe Visitor Management System Market Forecasts and Analysis - By Component
11.2.4 Europe Visitor Management System Market Forecasts and Analysis - By Deployment Type
11.2.5 Europe Visitor Management System Market Forecasts and Analysis - By Application
11.2.6 Europe Visitor Management System Market Forecasts and Analysis - By Industry
11.2.7 Europe Visitor Management System Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Visitor Management System Market
11.2.7.1.1 Germany Visitor Management System Market by Component
11.2.7.1.2 Germany Visitor Management System Market by Deployment Type
11.2.7.1.3 Germany Visitor Management System Market by Application
11.2.7.1.4 Germany Visitor Management System Market by Industry
11.2.7.2 France Visitor Management System Market
11.2.7.2.1 France Visitor Management System Market by Component
11.2.7.2.2 France Visitor Management System Market by Deployment Type
11.2.7.2.3 France Visitor Management System Market by Application
11.2.7.2.4 France Visitor Management System Market by Industry
11.2.7.3 Italy Visitor Management System Market
11.2.7.3.1 Italy Visitor Management System Market by Component
11.2.7.3.2 Italy Visitor Management System Market by Deployment Type
11.2.7.3.3 Italy Visitor Management System Market by Application
11.2.7.3.4 Italy Visitor Management System Market by Industry
11.2.7.4 United Kingdom Visitor Management System Market
11.2.7.4.1 United Kingdom Visitor Management System Market by Component
11.2.7.4.2 United Kingdom Visitor Management System Market by Deployment Type
11.2.7.4.3 United Kingdom Visitor Management System Market by Application
11.2.7.4.4 United Kingdom Visitor Management System Market by Industry
11.2.7.5 Russia Visitor Management System Market
11.2.7.5.1 Russia Visitor Management System Market by Component
11.2.7.5.2 Russia Visitor Management System Market by Deployment Type
11.2.7.5.3 Russia Visitor Management System Market by Application
11.2.7.5.4 Russia Visitor Management System Market by Industry
11.2.7.6 Rest of Europe Visitor Management System Market
11.2.7.6.1 Rest of Europe Visitor Management System Market by Component
11.2.7.6.2 Rest of Europe Visitor Management System Market by Deployment Type
11.2.7.6.3 Rest of Europe Visitor Management System Market by Application
11.2.7.6.4 Rest of Europe Visitor Management System Market by Industry
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Visitor Management System Market Overview
11.3.2 Asia-Pacific Visitor Management System Market Forecasts and Analysis
11.3.3 Asia-Pacific Visitor Management System Market Forecasts and Analysis - By Component
11.3.4 Asia-Pacific Visitor Management System Market Forecasts and Analysis - By Deployment Type
11.3.5 Asia-Pacific Visitor Management System Market Forecasts and Analysis - By Application
11.3.6 Asia-Pacific Visitor Management System Market Forecasts and Analysis - By Industry
11.3.7 Asia-Pacific Visitor Management System Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Visitor Management System Market
11.3.7.1.1 Australia Visitor Management System Market by Component
11.3.7.1.2 Australia Visitor Management System Market by Deployment Type
11.3.7.1.3 Australia Visitor Management System Market by Application
11.3.7.1.4 Australia Visitor Management System Market by Industry
11.3.7.2 China Visitor Management System Market
11.3.7.2.1 China Visitor Management System Market by Component
11.3.7.2.2 China Visitor Management System Market by Deployment Type
11.3.7.2.3 China Visitor Management System Market by Application
11.3.7.2.4 China Visitor Management System Market by Industry
11.3.7.3 India Visitor Management System Market
11.3.7.3.1 India Visitor Management System Market by Component
11.3.7.3.2 India Visitor Management System Market by Deployment Type
11.3.7.3.3 India Visitor Management System Market by Application
11.3.7.3.4 India Visitor Management System Market by Industry
11.3.7.4 Japan Visitor Management System Market
11.3.7.4.1 Japan Visitor Management System Market by Component
11.3.7.4.2 Japan Visitor Management System Market by Deployment Type
11.3.7.4.3 Japan Visitor Management System Market by Application
11.3.7.4.4 Japan Visitor Management System Market by Industry
11.3.7.5 South Korea Visitor Management System Market
11.3.7.5.1 South Korea Visitor Management System Market by Component
11.3.7.5.2 South Korea Visitor Management System Market by Deployment Type
11.3.7.5.3 South Korea Visitor Management System Market by Application
11.3.7.5.4 South Korea Visitor Management System Market by Industry
11.3.7.6 Rest of Asia-Pacific Visitor Management System Market
11.3.7.6.1 Rest of Asia-Pacific Visitor Management System Market by Component
11.3.7.6.2 Rest of Asia-Pacific Visitor Management System Market by Deployment Type
11.3.7.6.3 Rest of Asia-Pacific Visitor Management System Market by Application
11.3.7.6.4 Rest of Asia-Pacific Visitor Management System Market by Industry
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Visitor Management System Market Overview
11.4.2 Middle East and Africa Visitor Management System Market Forecasts and Analysis
11.4.3 Middle East and Africa Visitor Management System Market Forecasts and Analysis - By Component
11.4.4 Middle East and Africa Visitor Management System Market Forecasts and Analysis - By Deployment Type
11.4.5 Middle East and Africa Visitor Management System Market Forecasts and Analysis - By Application
11.4.6 Middle East and Africa Visitor Management System Market Forecasts and Analysis - By Industry
11.4.7 Middle East and Africa Visitor Management System Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Visitor Management System Market
11.4.7.1.1 South Africa Visitor Management System Market by Component
11.4.7.1.2 South Africa Visitor Management System Market by Deployment Type
11.4.7.1.3 South Africa Visitor Management System Market by Application
11.4.7.1.4 South Africa Visitor Management System Market by Industry
11.4.7.2 Saudi Arabia Visitor Management System Market
11.4.7.2.1 Saudi Arabia Visitor Management System Market by Component
11.4.7.2.2 Saudi Arabia Visitor Management System Market by Deployment Type
11.4.7.2.3 Saudi Arabia Visitor Management System Market by Application
11.4.7.2.4 Saudi Arabia Visitor Management System Market by Industry
11.4.7.3 U.A.E Visitor Management System Market
11.4.7.3.1 U.A.E Visitor Management System Market by Component
11.4.7.3.2 U.A.E Visitor Management System Market by Deployment Type
11.4.7.3.3 U.A.E Visitor Management System Market by Application
11.4.7.3.4 U.A.E Visitor Management System Market by Industry
11.4.7.4 Rest of Middle East and Africa Visitor Management System Market
11.4.7.4.1 Rest of Middle East and Africa Visitor Management System Market by Component
11.4.7.4.2 Rest of Middle East and Africa Visitor Management System Market by Deployment Type
11.4.7.4.3 Rest of Middle East and Africa Visitor Management System Market by Application
11.4.7.4.4 Rest of Middle East and Africa Visitor Management System Market by Industry
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Visitor Management System Market Overview
11.5.2 South and Central America Visitor Management System Market Forecasts and Analysis
11.5.3 South and Central America Visitor Management System Market Forecasts and Analysis - By Component
11.5.4 South and Central America Visitor Management System Market Forecasts and Analysis - By Deployment Type
11.5.5 South and Central America Visitor Management System Market Forecasts and Analysis - By Application
11.5.6 South and Central America Visitor Management System Market Forecasts and Analysis - By Industry
11.5.7 South and Central America Visitor Management System Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Visitor Management System Market
11.5.7.1.1 Brazil Visitor Management System Market by Component
11.5.7.1.2 Brazil Visitor Management System Market by Deployment Type
11.5.7.1.3 Brazil Visitor Management System Market by Application
11.5.7.1.4 Brazil Visitor Management System Market by Industry
11.5.7.2 Argentina Visitor Management System Market
11.5.7.2.1 Argentina Visitor Management System Market by Component
11.5.7.2.2 Argentina Visitor Management System Market by Deployment Type
11.5.7.2.3 Argentina Visitor Management System Market by Application
11.5.7.2.4 Argentina Visitor Management System Market by Industry
11.5.7.3 Rest of South and Central America Visitor Management System Market
11.5.7.3.1 Rest of South and Central America Visitor Management System Market by Component
11.5.7.3.2 Rest of South and Central America Visitor Management System Market by Deployment Type
11.5.7.3.3 Rest of South and Central America Visitor Management System Market by Application
11.5.7.3.4 Rest of South and Central America Visitor Management System Market by Industry
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. VISITOR MANAGEMENT SYSTEM MARKET, KEY COMPANY PROFILES
13.1. ALERTENTERPRISE
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. ENVOY
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. GENETEC INC.
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 INTERNATIONAL INC.
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. ILOBBY
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. JOLLY TECHNOLOGIES INC.
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. SINE
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. SHARP ELECTRONICS
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. TRACTION GUEST
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. VERISTREAM
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. AlertEnterprise
2. Envoy
3. Genetec Inc.
4. Honeywell International Inc.
5. iLobby
6. Jolly Technologies Inc.
7.Sine
8. Sharp Electronics
9. Traction Guest
10. Veristream
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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