Voice Analytics Market [2021-2031] - Size, Share, and Analysis
The Voice Analytics Market is expected to register a CAGR of 17.4% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Voice Analytics Market report covers analysis By Component (Solution, Service); Deployment Mode (On-Premise, Cloud); Application (Call Monitoring, Sentiment Analysis, Risk and Fraud Detection, Others); End User Industry (Retail and Ecommerce, BFSI, Government, IT and Telecom, Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Voice Analytics 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.
Voice Analytics Market Segmentation
Component- Solution
- Service
- On-Premise
- Cloud
- Call Monitoring
- Sentiment Analysis
- Risk and Fraud Detection
- Retail and Ecommerce
- BFSI
- Government
- IT and Telecom
- Retail and Ecommerce
- BFSI
- Government
- IT and Telecom
Strategic Insights
Voice Analytics Market Growth Drivers- Growth in Demand for Customer-Centric Solutions:
Businesses are increasingly focusing on customer satisfaction and experience. Voice analytics helps companies capture and analyze customer interactions, providing insights into their needs, preferences, and sentiments. This leads to better customer service, personalized offerings, and improved customer retention.
- Advancements in AI and Machine Learning:
The integration of AI and machine learning technologies with voice analytics tools allows for more accurate and efficient voice recognition, sentiment analysis, and real-time processing of voice data. These advancements enable better data insights and automated decision-making processes.
- Wide Applications Across Industries:
Voice analytics is widely used in various sectors like customer service, healthcare, banking, and retail. In customer service, it helps in evaluating call center interactions to ensure quality and compliance. In healthcare, it aids in transcribing and analyzing patient consultations for better service.
- Integration with Cloud Solutions:
As businesses continue to move towards cloud-based platforms, integrating voice analytics with cloud solutions is becoming more common. This provides greater scalability, accessibility, and the ability to handle large volumes of voice data in real-time.
- Sentiment Analysis and Emotional Insights:
The ability to analyze emotions in voice calls is gaining traction. Businesses are increasingly using sentiment analysis to gauge customer satisfaction and detect emotions such as frustration, anger, or happiness. This trend helps improve customer service interactions and can be used for personalized marketing efforts.
- Increased Adoption of AI and NLP:
With the growing capabilities of AI and Natural Language Processing (NLP), voice analytics tools are becoming more sophisticated, offering enhanced transcription accuracy, multilingual support, and the ability to analyze unstructured data more effectively.
- Expanding into Emerging Markets:
Many businesses, especially those in emerging markets, are still exploring voice analytics technologies. This creates an opportunity for companies to expand their offerings and tap into new markets where voice-based solutions are becoming more popular.
- Integration with Customer Relationship Management (CRM) Systems:
Integrating voice analytics with CRM systems offers opportunities to enhance the personalization of customer interactions. By analyzing customer data through CRM and voice insights, businesses can deliver more tailored services, improving customer satisfaction and loyalty.
- Applications in Healthcare for Telemedicine:
With the rise of telemedicine and virtual healthcare, voice analytics can play a crucial role in analyzing consultations and providing insights into patient satisfaction, quality of care, and identifying trends in patient concerns.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Voice Analytics 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 Voice Analytics 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.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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 Voice Analytics Market is estimated to witness a CAGR of 17.4% from 2023 to 2031.
The major factors driving the market are: Integration of AI and Machine Learning, Demand for customer insights, Adoption of cloud-based solutions
Key future trends in this market are -
Key companies of this market are: Avaya Inc., Calabrio Inc., Invoca, NICE, RankMiner, SESTEK, ThoughtSpot Inc., Uniphore Software Systems, VoiceSense Inc., Verint Systems 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 request are 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 Voice Analytics Market - By Component
1.3.2 Voice Analytics Market - By Deployment Mode
1.3.3 Voice Analytics Market - By Application
1.3.4 Voice Analytics Market - By End User Industry
1.3.5 Voice Analytics Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. VOICE ANALYTICS 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. VOICE ANALYTICS 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. VOICE ANALYTICS MARKET - GLOBAL MARKET ANALYSIS
6.1. VOICE ANALYTICS - GLOBAL MARKET OVERVIEW
6.2. VOICE ANALYTICS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. VOICE ANALYTICS MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. SOLUTION
7.3.1. Overview
7.3.2. Solution Market Forecast and Analysis
7.4. SERVICE
7.4.1. Overview
7.4.2. Service Market Forecast and Analysis
8. VOICE ANALYTICS MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT MODE
8.1. OVERVIEW
8.2. DEPLOYMENT MODE 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. VOICE ANALYTICS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. CALL MONITORING
9.3.1. Overview
9.3.2. Call Monitoring Market Forecast and Analysis
9.4. SENTIMENT ANALYSIS
9.4.1. Overview
9.4.2. Sentiment Analysis Market Forecast and Analysis
9.5. RISK AND FRAUD DETECTION
9.5.1. Overview
9.5.2. Risk and Fraud Detection Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. VOICE ANALYTICS MARKET - REVENUE AND FORECASTS TO 2028 - END USER INDUSTRY
10.1. OVERVIEW
10.2. END USER INDUSTRY MARKET FORECASTS AND ANALYSIS
10.3. RETAIL AND ECOMMERCE
10.3.1. Overview
10.3.2. Retail and Ecommerce Market Forecast and Analysis
10.4. BFSI
10.4.1. Overview
10.4.2. BFSI Market Forecast and Analysis
10.5. GOVERNMENT
10.5.1. Overview
10.5.2. Government Market Forecast and Analysis
10.6. IT AND TELECOM
10.6.1. Overview
10.6.2. IT and Telecom Market Forecast and Analysis
10.7. OTHERS
10.7.1. Overview
10.7.2. Others Market Forecast and Analysis
11. VOICE ANALYTICS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Voice Analytics Market Overview
11.1.2 North America Voice Analytics Market Forecasts and Analysis
11.1.3 North America Voice Analytics Market Forecasts and Analysis - By Component
11.1.4 North America Voice Analytics Market Forecasts and Analysis - By Deployment Mode
11.1.5 North America Voice Analytics Market Forecasts and Analysis - By Application
11.1.6 North America Voice Analytics Market Forecasts and Analysis - By End User Industry
11.1.7 North America Voice Analytics Market Forecasts and Analysis - By Countries
11.1.7.1 United States Voice Analytics Market
11.1.7.1.1 United States Voice Analytics Market by Component
11.1.7.1.2 United States Voice Analytics Market by Deployment Mode
11.1.7.1.3 United States Voice Analytics Market by Application
11.1.7.1.4 United States Voice Analytics Market by End User Industry
11.1.7.2 Canada Voice Analytics Market
11.1.7.2.1 Canada Voice Analytics Market by Component
11.1.7.2.2 Canada Voice Analytics Market by Deployment Mode
11.1.7.2.3 Canada Voice Analytics Market by Application
11.1.7.2.4 Canada Voice Analytics Market by End User Industry
11.1.7.3 Mexico Voice Analytics Market
11.1.7.3.1 Mexico Voice Analytics Market by Component
11.1.7.3.2 Mexico Voice Analytics Market by Deployment Mode
11.1.7.3.3 Mexico Voice Analytics Market by Application
11.1.7.3.4 Mexico Voice Analytics Market by End User Industry
11.2. EUROPE
11.2.1 Europe Voice Analytics Market Overview
11.2.2 Europe Voice Analytics Market Forecasts and Analysis
11.2.3 Europe Voice Analytics Market Forecasts and Analysis - By Component
11.2.4 Europe Voice Analytics Market Forecasts and Analysis - By Deployment Mode
11.2.5 Europe Voice Analytics Market Forecasts and Analysis - By Application
11.2.6 Europe Voice Analytics Market Forecasts and Analysis - By End User Industry
11.2.7 Europe Voice Analytics Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Voice Analytics Market
11.2.7.1.1 Germany Voice Analytics Market by Component
11.2.7.1.2 Germany Voice Analytics Market by Deployment Mode
11.2.7.1.3 Germany Voice Analytics Market by Application
11.2.7.1.4 Germany Voice Analytics Market by End User Industry
11.2.7.2 France Voice Analytics Market
11.2.7.2.1 France Voice Analytics Market by Component
11.2.7.2.2 France Voice Analytics Market by Deployment Mode
11.2.7.2.3 France Voice Analytics Market by Application
11.2.7.2.4 France Voice Analytics Market by End User Industry
11.2.7.3 Italy Voice Analytics Market
11.2.7.3.1 Italy Voice Analytics Market by Component
11.2.7.3.2 Italy Voice Analytics Market by Deployment Mode
11.2.7.3.3 Italy Voice Analytics Market by Application
11.2.7.3.4 Italy Voice Analytics Market by End User Industry
11.2.7.4 United Kingdom Voice Analytics Market
11.2.7.4.1 United Kingdom Voice Analytics Market by Component
11.2.7.4.2 United Kingdom Voice Analytics Market by Deployment Mode
11.2.7.4.3 United Kingdom Voice Analytics Market by Application
11.2.7.4.4 United Kingdom Voice Analytics Market by End User Industry
11.2.7.5 Russia Voice Analytics Market
11.2.7.5.1 Russia Voice Analytics Market by Component
11.2.7.5.2 Russia Voice Analytics Market by Deployment Mode
11.2.7.5.3 Russia Voice Analytics Market by Application
11.2.7.5.4 Russia Voice Analytics Market by End User Industry
11.2.7.6 Rest of Europe Voice Analytics Market
11.2.7.6.1 Rest of Europe Voice Analytics Market by Component
11.2.7.6.2 Rest of Europe Voice Analytics Market by Deployment Mode
11.2.7.6.3 Rest of Europe Voice Analytics Market by Application
11.2.7.6.4 Rest of Europe Voice Analytics Market by End User Industry
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Voice Analytics Market Overview
11.3.2 Asia-Pacific Voice Analytics Market Forecasts and Analysis
11.3.3 Asia-Pacific Voice Analytics Market Forecasts and Analysis - By Component
11.3.4 Asia-Pacific Voice Analytics Market Forecasts and Analysis - By Deployment Mode
11.3.5 Asia-Pacific Voice Analytics Market Forecasts and Analysis - By Application
11.3.6 Asia-Pacific Voice Analytics Market Forecasts and Analysis - By End User Industry
11.3.7 Asia-Pacific Voice Analytics Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Voice Analytics Market
11.3.7.1.1 Australia Voice Analytics Market by Component
11.3.7.1.2 Australia Voice Analytics Market by Deployment Mode
11.3.7.1.3 Australia Voice Analytics Market by Application
11.3.7.1.4 Australia Voice Analytics Market by End User Industry
11.3.7.2 China Voice Analytics Market
11.3.7.2.1 China Voice Analytics Market by Component
11.3.7.2.2 China Voice Analytics Market by Deployment Mode
11.3.7.2.3 China Voice Analytics Market by Application
11.3.7.2.4 China Voice Analytics Market by End User Industry
11.3.7.3 India Voice Analytics Market
11.3.7.3.1 India Voice Analytics Market by Component
11.3.7.3.2 India Voice Analytics Market by Deployment Mode
11.3.7.3.3 India Voice Analytics Market by Application
11.3.7.3.4 India Voice Analytics Market by End User Industry
11.3.7.4 Japan Voice Analytics Market
11.3.7.4.1 Japan Voice Analytics Market by Component
11.3.7.4.2 Japan Voice Analytics Market by Deployment Mode
11.3.7.4.3 Japan Voice Analytics Market by Application
11.3.7.4.4 Japan Voice Analytics Market by End User Industry
11.3.7.5 South Korea Voice Analytics Market
11.3.7.5.1 South Korea Voice Analytics Market by Component
11.3.7.5.2 South Korea Voice Analytics Market by Deployment Mode
11.3.7.5.3 South Korea Voice Analytics Market by Application
11.3.7.5.4 South Korea Voice Analytics Market by End User Industry
11.3.7.6 Rest of Asia-Pacific Voice Analytics Market
11.3.7.6.1 Rest of Asia-Pacific Voice Analytics Market by Component
11.3.7.6.2 Rest of Asia-Pacific Voice Analytics Market by Deployment Mode
11.3.7.6.3 Rest of Asia-Pacific Voice Analytics Market by Application
11.3.7.6.4 Rest of Asia-Pacific Voice Analytics Market by End User Industry
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Voice Analytics Market Overview
11.4.2 Middle East and Africa Voice Analytics Market Forecasts and Analysis
11.4.3 Middle East and Africa Voice Analytics Market Forecasts and Analysis - By Component
11.4.4 Middle East and Africa Voice Analytics Market Forecasts and Analysis - By Deployment Mode
11.4.5 Middle East and Africa Voice Analytics Market Forecasts and Analysis - By Application
11.4.6 Middle East and Africa Voice Analytics Market Forecasts and Analysis - By End User Industry
11.4.7 Middle East and Africa Voice Analytics Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Voice Analytics Market
11.4.7.1.1 South Africa Voice Analytics Market by Component
11.4.7.1.2 South Africa Voice Analytics Market by Deployment Mode
11.4.7.1.3 South Africa Voice Analytics Market by Application
11.4.7.1.4 South Africa Voice Analytics Market by End User Industry
11.4.7.2 Saudi Arabia Voice Analytics Market
11.4.7.2.1 Saudi Arabia Voice Analytics Market by Component
11.4.7.2.2 Saudi Arabia Voice Analytics Market by Deployment Mode
11.4.7.2.3 Saudi Arabia Voice Analytics Market by Application
11.4.7.2.4 Saudi Arabia Voice Analytics Market by End User Industry
11.4.7.3 U.A.E Voice Analytics Market
11.4.7.3.1 U.A.E Voice Analytics Market by Component
11.4.7.3.2 U.A.E Voice Analytics Market by Deployment Mode
11.4.7.3.3 U.A.E Voice Analytics Market by Application
11.4.7.3.4 U.A.E Voice Analytics Market by End User Industry
11.4.7.4 Rest of Middle East and Africa Voice Analytics Market
11.4.7.4.1 Rest of Middle East and Africa Voice Analytics Market by Component
11.4.7.4.2 Rest of Middle East and Africa Voice Analytics Market by Deployment Mode
11.4.7.4.3 Rest of Middle East and Africa Voice Analytics Market by Application
11.4.7.4.4 Rest of Middle East and Africa Voice Analytics Market by End User Industry
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Voice Analytics Market Overview
11.5.2 South and Central America Voice Analytics Market Forecasts and Analysis
11.5.3 South and Central America Voice Analytics Market Forecasts and Analysis - By Component
11.5.4 South and Central America Voice Analytics Market Forecasts and Analysis - By Deployment Mode
11.5.5 South and Central America Voice Analytics Market Forecasts and Analysis - By Application
11.5.6 South and Central America Voice Analytics Market Forecasts and Analysis - By End User Industry
11.5.7 South and Central America Voice Analytics Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Voice Analytics Market
11.5.7.1.1 Brazil Voice Analytics Market by Component
11.5.7.1.2 Brazil Voice Analytics Market by Deployment Mode
11.5.7.1.3 Brazil Voice Analytics Market by Application
11.5.7.1.4 Brazil Voice Analytics Market by End User Industry
11.5.7.2 Argentina Voice Analytics Market
11.5.7.2.1 Argentina Voice Analytics Market by Component
11.5.7.2.2 Argentina Voice Analytics Market by Deployment Mode
11.5.7.2.3 Argentina Voice Analytics Market by Application
11.5.7.2.4 Argentina Voice Analytics Market by End User Industry
11.5.7.3 Rest of South and Central America Voice Analytics Market
11.5.7.3.1 Rest of South and Central America Voice Analytics Market by Component
11.5.7.3.2 Rest of South and Central America Voice Analytics Market by Deployment Mode
11.5.7.3.3 Rest of South and Central America Voice Analytics Market by Application
11.5.7.3.4 Rest of South and Central America Voice Analytics Market by End User 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. VOICE ANALYTICS MARKET, KEY COMPANY PROFILES
13.1. AVAYA INC.
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. CALABRIO INC.
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. INVOCA 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. NICE LTD
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. RANKMINER
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. SESTEK
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. THOUGHTSPOT INC.
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. UNIPHORE SOFTWARE SYSTEMS
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. VOICESENSE INC.
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. VERINT SYSTEMS INC.
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
1. Avaya Inc.
2. Calabrio Inc.
3. Invoca Inc
4. NICE Ltd
5. RankMiner
6. SESTEK
7. ThoughtSpot Inc.
8. Uniphore Software Systems
9. VoiceSense Inc.
10. Verint Systems Inc.
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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