The Europe automated guided vehicles market is expected to grow from US$ 976.66 million in 2021 to US$ 2,371.00 million by 2028; it is estimated to grow at a CAGR of 13.5% from 2021 to 2028.
Recently, the adoption of automated guided vehicle (AGVs) has increased drastically as they are effective and reliable solutions for material handling, which, in turn, increases the production capacity of the industry. These material handling solutions reduce physical damages to goods and boost the efficiency of operations. The overall need for high efficiency in the automotive, healthcare, e-commerce, and food & beverage industries increases the demand for automated material handling. It has enabled the industries to have connected factories with big data and machine learning, resulting in increased automation in the industries. The AGV-enabled automation in industrial facilities can help meet the requirements related to material handling capacity and reduced production time. Moreover, this automation facilitates improved labor management, enhanced safety, high production volumes, and increased accuracy and repeatability by enhancing quality control with flexible manufacturing processes. AGVs enable just-in-time (JIT) delivery of raw material, computerized control of received assembled parts, and tracking of shipped articles. At present, the automotive industries are rapidly adopting automation and AGVs, especially in their production floors. For instance, in Martorell, Spain, the SEAT plant is moving toward digital and smart factory, with which the manufacturers are adopting AGVs with SLAM navigation, 4G connection, and induction battery charging. Till date, the facility adopted eight AGVs for outdoor operation and has over 200 AGVs that deliver parts inside the assembly workshops at the Martorell and Barcelona factories. Thus, growing demand for automation in material handling across industries is likely to increase the adoption of automated guided vehicles during the forecast period across Europe region.
In Europe, the UK got severely affected due to the COVID-19 pandemic. Businesses in the region face severe financial difficulties as they either have to suspend their operations or reduce their activities substantially. Due to business lockdowns, travel bans, and supply chain disruptions, the region faced an economic slowdown in 2020 and 2021. The entire region got negatively impacted by the COVID-19 pandemic, which resulted in the closure of tech giants and many industrial sectors. The closure has obstructed the company’s investment decision on different software. The region is a major manufacturing and industrial hub for various machinery equipment, manufacturing, and logistics sectors. However, the region witnessed a decline in activities due to the restriction imposed by the government. Decline in activities of above-mentioned industries has resulted into lesser development of AGV technologies and systems.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe automated guided vehicles market. The Europe automated guided vehicles market is expected to grow at a good CAGR during the forecast period.
Europe Automated Guided Vehicles Market Revenue and Forecast to 2028 (US$ Million)
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Europe Automated Guided Vehicles Market Segmentation
Europe Automated Guided Vehicles Market – By Technology
- Wired Navigation
- Guide Tape Navigation
- Laser Target Navigation
- Magnetic Navigation
- Others
Europe Automated Guided Vehicles Market – By Type
- Standard
- Hybrid
- Compact
- Others
Europe Automated Guided Vehicles Market – By Vehicle Type
- Pallet Trucks
- Unit Load Carriers
- Driverless Trains
- Forklift Trucks
- Others
Europe Automated Guided Vehicles Market – ByEnd-User
- General Manufacturing
- Food and Beverage
- Aerospace
- Retail
- Healthcare
- Logistics
- Automotive
- Others
Europe Automated Guided Vehicles Market, by Country
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
Europe Automated Guided Vehicles Market - Companies Mentioned
- Balyo SA
- Bastian Solutions, Inc.
- Daifuku Co., Ltd.
- Dematic Group (KION Group AG)
- Hyster-Yale Group, Inc.
- JBT Corporation
- Konecranes Oyj
- Kuka AG
- Lodamaster Group
- SSI SCHAEFER Group
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.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Automated Guided Vehicles Market – By Technology
1.3.2 Europe Automated Guided Vehicles Market – By Type
1.3.3 Europe Automated Guided Vehicles Market – By Vehicle Type
1.3.4 Europe Automated Guided Vehicles Market – By End-User
1.3.5 Europe Automated guided vehicles Market – By Country
2. Europe Automated Guided Vehicles Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Automated Guided Vehicles – Market Landscape
4.1 Overview
4.2 Europe PEST Analysis
4.3 Expert Opinion
5. Europe Automated Guided Vehicles Market– Industry Dynamics
5.1 Market Drivers
5.1.1 Accelerating Demand for Automation in Material Handling Across Industries
5.1.2 Rising Demand for AGVs in E-commerce
5.2 Market Restraints
5.2.1 Expensive Installation, Maintenance, and Switching
5.3 Market Opportunities
5.3.1 Combination of Industry 4.0
5.4 Future Trends
5.4.1 Surging Strategic Activities
5.5 Impact analysis
6. Automated Guided Vehicles Market – Europe Analysis
6.1 Europe Automated Guided Vehicles Market – Revenue and Forecast to 2028 (US$ Million)
7. Europe Automated Guided Vehicles Market Analysis and Forecast to 2028 – By Technology
7.1 Overview
7.2 Europe Automated Guided Vehicles Market, by Technology, 2020 & 2028 (% Share)
7.3 Wired Navigation
7.3.1 Overview
7.3.2 Wired Navigation Market Revenue and Forecast to 2028 (US$ Mn)
7.4 Guide Tape Navigation
7.4.1 Overview
7.4.2 Guide Tape Navigation Market Revenue and Forecast to 2028 (US$ Mn)
7.5 Laser Target Navigation
7.5.1 Overview
7.5.2 Laser Target Navigation Market Revenue and Forecast to 2028 (US$ Mn)
7.6 Magnetic Navigation
7.6.1 Overview
7.6.2 Magnetic Navigation Market Revenue and Forecast to 2028 (US$ Mn)
7.7 Others
7.7.1 Overview
7.7.2 Others Market Revenue and Forecast to 2028 (US$ Mn)
8. Europe Automated Guided Vehicles Market Analysis and Forecast to 2028 – By Type
8.1 Overview
8.2 Europe Automated Guided Vehicles Market, by Type, 2020 & 2028 (% Share)
8.3 Standard
8.3.1 Overview
8.3.2 Standard Market Revenue and Forecast to 2028 (US$ Mn)
8.4 Hybrid
8.4.1 Overview
8.4.2 Hybrid Market Revenue and Forecast to 2028 (US$ Mn)
8.5 Compact
8.5.1 Overview
8.5.2 Compact Market Revenue and Forecast to 2028 (US$ Mn)
8.6 Others
8.6.1 Overview
8.6.2 Others Market Revenue and Forecast to 2028 (US$ Mn)
9. Europe Automated Guided Vehicles Market Analysis and Forecast to 2028 – By Vehicle Type
9.1 Overview
9.2 Europe Automated Guided Vehicles Market, by Vehicle Type, 2020 & 2028 (% Share)
9.3 Pallet Trucks
9.3.1 Overview
9.3.2 Pallet Trucks Market Revenue and Forecast to 2028 (US$ Mn)
9.4 Unit Load Carriers
9.4.1 Overview
9.4.2 Unit Load Carriers Market Revenue and Forecast to 2028 (US$ Mn)
9.5 Driverless Trains
9.5.1 Overview
9.5.2 Driverless Trains Market Revenue and Forecast to 2028 (US$ Mn)
9.6 Forklift Trucks
9.6.1 Overview
9.6.2 Forklift Trucks Market Revenue and Forecast to 2028 (US$ Mn)
9.7 Others
9.7.1 Overview
9.7.2 Others Market Revenue and Forecast to 2028 (US$ Mn)
10. Europe Automated Guided Vehicles Market Analysis and Forecast to 2028 – By End-User
10.1 Overview
10.2 Europe Automated Guided Vehicles Market, by End-User, 2020 & 2028 (% Share)
10.3 General Manufacturing
10.3.1 Overview
10.3.2 General Manufacturing Market Revenue and Forecast to 2028 (US$ Mn)
10.4 Food and Beverage
10.4.1 Overview
10.4.2 Food and Beverage Market Revenue and Forecast to 2028 (US$ Mn)
10.5 Aerospace
10.5.1 Overview
10.5.2 Aerospace Market Revenue and Forecast to 2028 (US$ Mn)
10.6 Retail
10.6.1 Overview
10.6.2 Retail Market Revenue and Forecast to 2028 (US$ Mn)
10.7 Healthcare
10.7.1 Overview
10.7.2 Healthcare Market Revenue and Forecast to 2028 (US$ Mn)
10.8 Logistics
10.8.1 Overview
10.8.2 Logistics Market Revenue and Forecast to 2028 (US$ Mn)
10.9 Automotive
10.9.1 Overview
10.9.2 Automotive Market Revenue and Forecast to 2028 (US$ Mn)
10.10 Others
10.10.1 Overview
10.10.2 Others Market Revenue and Forecast to 2028 (US$ Mn)
11. Europe Automated Guided Vehicles Market - Country Analysis
11.1 Europe
11.1.1 Overview
11.1.2 Europe: Automated Guided Vehicles Market, by Country 2020 & 2028 (%)
11.1.2.1 Germany
11.1.2.1.1 Germany: Automated Guided Vehicles Market Revenue and Forecasts to 2028 (US$ Mn)
11.1.2.1.2 Germany Automated Guided Vehicles (AGV) Market, by Technology – Revenue and Forecast to 2028 (USD Million)
11.1.2.1.3 Germany Automated Guided Vehicles (AGV) Market, by Type – Revenue and Forecast to 2028 (USD Million)
11.1.2.1.4 Germany Automated Guided Vehicles (AGV) Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
11.1.2.1.5 Germany Automated Guided Vehicles (AGV) Market, by End-User – Revenue and Forecast to 2028 (USD Million)
11.1.2.2 UK
11.1.2.2.1 UK Automated Guided Vehicles Market Revenue and Forecasts to 2028 (US$ Mn)
11.1.2.2.2 United Kingdom Automated Guided Vehicles (AGV) Market, by Technology – Revenue and Forecast to 2028 (USD Million)
11.1.2.2.3 United Kingdom Automated Guided Vehicles (AGV) Market, by Type – Revenue and Forecast to 2028 (USD Million)
11.1.2.2.4 United Kingdom Automated Guided Vehicles (AGV) Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
11.1.2.2.5 United Kingdom Automated Guided Vehicles (AGV) Market, by End-User – Revenue and Forecast to 2028 (USD Million)
11.1.2.3 France
11.1.2.3.1 France: Automated Guided Vehicles Market Revenue and Forecasts to 2028 (US$ Mn)
11.1.2.3.2 France Automated Guided Vehicles (AGV) Market, by Technology – Revenue and Forecast to 2028 (USD Million)
11.1.2.3.3 France Automated Guided Vehicles (AGV) Market, by Type – Revenue and Forecast to 2028 (USD Million)
11.1.2.3.4 France Automated Guided Vehicles (AGV) Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
11.1.2.3.5 France Automated Guided Vehicles (AGV) Market, by End-User – Revenue and Forecast to 2028 (USD Million)
11.1.2.4 Russia
11.1.2.4.1 Russia: Automated Guided Vehicles Market Revenue and Forecasts to 2028 (US$ Mn)
11.1.2.4.2 Russia Automated Guided Vehicles (AGV) Market, by Technology – Revenue and Forecast to 2028 (USD Million)
11.1.2.4.3 Russia Automated Guided Vehicles (AGV) Market, by Type – Revenue and Forecast to 2028 (USD Million)
11.1.2.4.4 Russia Automated Guided Vehicles (AGV) Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
11.1.2.4.5 Russia Automated Guided Vehicles (AGV) Market, by End-User – Revenue and Forecast to 2028 (USD Million)
11.1.2.5 Italy
11.1.2.5.1 Italy: Automated Guided Vehicles Market Revenue and Forecasts to 2028 (US$ Mn)
11.1.2.5.2 Italy Automated Guided Vehicles (AGV) Market, by Technology – Revenue and Forecast to 2028 (USD Million)
11.1.2.5.3 Italy Automated Guided Vehicles (AGV) Market, by Type – Revenue and Forecast to 2028 (USD Million)
11.1.2.5.4 Italy Automated Guided Vehicles (AGV) Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
11.1.2.5.5 Italy Automated Guided Vehicles (AGV) Market, by End-User – Revenue and Forecast to 2028 (USD Million)
11.1.2.6 Rest of Europe
11.1.2.6.1 Rest of Europe: Automated Guided Vehicles Market – Revenue and Forecast to 2028 (USD Million)
11.1.2.6.2 Rest of Europe Automated Guided Vehicles (AGV) Market, by Technology – Revenue and Forecast to 2028 (USD Million)
11.1.2.6.3 Rest of Europe Automated Guided Vehicles (AGV) Market, by Type – Revenue and Forecast to 2028 (USD Million)
11.1.2.6.4 Rest of Europe Automated Guided Vehicles (AGV) Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
11.1.2.6.5 Rest of Europe Automated Guided Vehicles (AGV) Market, by End-User – Revenue and Forecast to 2028 (USD Million)
12. Impact Of COVID-19 Pandemic on Europe Automated Guided Vehicles Market
12.1 Europe: Impact Assessment Of COVID-19 Pandemic
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 New Product Development
14. Company Profiles
14.1 Balyo SA
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Bastian Solutions, Inc.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Daifuku Co., Ltd.
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Dematic Group (KION Group AG)
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Hyster-Yale Group, Inc.
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 SSI SCHAEFER Group
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 JBT Corporation
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Konecranes Oyj
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Kuka AG
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. Europe Automated Guided Vehicles Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. Germany Automated Guided Vehicles (AGV) Market, by Technology – Revenue and Forecast to 2028 (USD Million)
Table 3. Germany Automated Guided Vehicles (AGV) Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 4. Germany Automated Guided Vehicles (AGV) Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 5. Germany Automated Guided Vehicles (AGV) Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 6. United Kingdom Automated Guided Vehicles (AGV) Market, by Technology – Revenue and Forecast to 2028 (USD Million)
Table 7. United Kingdom Automated Guided Vehicles (AGV) Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 8. United Kingdom Automated Guided Vehicles (AGV) Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 9. United Kingdom Automated Guided Vehicles (AGV) Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 10. France Automated Guided Vehicles (AGV) Market, by Technology – Revenue and Forecast to 2028 (USD Million)
Table 11. France Automated Guided Vehicles (AGV) Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 12. France Automated Guided Vehicles (AGV) Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 13. France Automated Guided Vehicles (AGV) Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 14. Russia Automated Guided Vehicles (AGV) Market, by Technology – Revenue and Forecast to 2028 (USD Million)
Table 15. Russia Automated Guided Vehicles (AGV) Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 16. Russia Automated Guided Vehicles (AGV) Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 17. Russia Automated Guided Vehicles (AGV) Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 18. Italy Automated Guided Vehicles (AGV) Market, by Technology – Revenue and Forecast to 2028 (USD Million)
Table 19. Italy Automated Guided Vehicles (AGV) Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 20. Italy Automated Guided Vehicles (AGV) Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 21. Italy Automated Guided Vehicles (AGV) Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 22. Rest of Europe Automated Guided Vehicles (AGV) Market, by Technology – Revenue and Forecast to 2028 (USD Million)
Table 23. Rest of Europe Automated Guided Vehicles (AGV) Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 24. Rest of Europe Automated Guided Vehicles (AGV) Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 25. Rest of Europe Automated Guided Vehicles (AGV) Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 26. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Automated Guided Vehicles Market Segmentation
Figure 2. Europe Automated Guided Vehicles Market – By Country
Figure 3. Europe Automated Guided Vehicles Market Overview
Figure 4. Laser Target Navigation Segment Held Largest Share of the Market in 2020
Figure 5. Germany to Show Remarkable Growth During Forecast Period
Figure 6. Europe: PEST Analysis
Figure 7. Expert Opinion
Figure 8. Europe Automated Guided Vehicles Market Impact Analysis of Driver and Restraints
Figure 9. Europe Automated Guided Vehicles Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. Europe Automated Guided Vehicles Market, By Technology, 2020 & 2028 (% Share)
Figure 11. Europe Wired Navigation Market Revenue and Forecast to 2028 (US$ Mn)
Figure 12. Europe Guide Tape Navigation Market Revenue and Forecast to 2028 (US$ Mn)
Figure 13. Europe Laser Target Navigation Market Revenue and Forecast to 2028 (US$ Mn)
Figure 14. Europe Magnetic Navigation Market Revenue and Forecast to 2028 (US$ Mn)
Figure 15. Europe Others Market Revenue and Forecast to 2028 (US$ Mn)
Figure 16. Europe Automated Guided Vehicles Market, By Type, 2020 & 2028 (% Share)
Figure 17. Europe Standard Market Revenue and Forecast to 2028 (US$ Mn)
Figure 18. Europe Hybrid Market Revenue and Forecast to 2028 (US$ Mn)
Figure 19. Europe Compact Market Revenue and Forecast to 2028 (US$ Mn)
Figure 20. Europe Others Market Revenue and Forecast to 2028 (US$ Mn)
Figure 21. Europe Automated Guided Vehicles Market, By Vehicle Type, 2020 & 2028 (% Share)
Figure 22. Europe Pallet Trucks Market Revenue and Forecast to 2028 (US$ Mn)
Figure 23. Europe Unit Load Carriers Market Revenue and Forecast to 2028 (US$ Mn)
Figure 24. Europe Driverless Trains Market Revenue and Forecast to 2028 (US$ Mn)
Figure 25. Europe Forklift Trucks Market Revenue and Forecast to 2028 (US$ Mn)
Figure 26. Europe Others Market Revenue and Forecast to 2028 (US$ Mn)
Figure 27. Europe Automated Guided Vehicles Market, By End-User, 2020 & 2028 (% Share)
Figure 28. Europe General Manufacturing Market Revenue and Forecast to 2028 (US$ Mn)
Figure 29. Europe Food and Beverage Market Revenue and Forecast to 2028 (US$ Mn)
Figure 30. Europe Aerospace Market Revenue and Forecast to 2028 (US$ Mn)
Figure 31. Europe Retail Market Revenue and Forecast to 2028 (US$ Mn)
Figure 32. Europe Healthcare Market Revenue and Forecast to 2028 (US$ Mn)
Figure 33. Europe Logistics Market Revenue and Forecast to 2028 (US$ Mn)
Figure 34. Europe Automotive Market Revenue and Forecast to 2028 (US$ Mn)
Figure 35. Europe Others Market Revenue and Forecast to 2028 (US$ Mn)
Figure 36. Europe: Automated Guided Vehicles Market, by Key Country – Revenue (2020) (USD Million)
Figure 37. Europe Automated Guided Vehicles Market by Country 2020 & 2028 (%)
Figure 38. Germany: Automated Guided Vehicles Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 39. UK Automated Guided Vehicles Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 40. France: Automated Guided Vehicles Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 41. Russia: Automated Guided Vehicles Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 42. Italy: Automated Guided Vehicles Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 43. Rest of Europe: Automated Guided Vehicles Market – Revenue and Forecast to 2028 (USD Million)
Figure 44. Impact of COVID-19 Pandemic in European Country Markets
- Balyo SA
- Bastian Solutions, Inc.
- Daifuku Co., Ltd.
- Dematic Group (KION Group AG)
- Hyster-Yale Group, Inc.
- JBT Corporation
- Konecranes Oyj
- Kuka AG
- Lodamaster Group
- SSI SCHAEFER Group
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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Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Pedestrian Doors, Industrial Doors, and Windows), Component (Sensors and Detectors, Access Control Systems, Control Panels, Motors and Actuators, and Others), Industry Vertical (Commercial, Industrial, and Residential), Control System (Fully Automatic, Semi-Automatic, and Power Assist), and Geography
Mar 2022
LED Flashlight Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Rechargeable LED Flashlight and Non-Rechargeable LED Flashlight), Product (Everyday Carry Flashlights, Tactical Flashlights, and Safety Flashlights), Application (Residential, Commercial, and Military and Law Enforcement), and Geography
Mar 2022
Collaborative Robots Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Payload (5–10 Kgs, Up to 5 Kgs, and Above 10 Kgs), Application (Assembly, Pick and Place, Material Handling, Quality Testing, Machine Tending, Welding, Packaging, and Others), Type (Robotic Arm, Welding Guns, Grippers, and Others), End-user Industry (Automotive, Electronics, Metal and Machinery, Food and Beverage, Logistics, Pharmaceuticals, and Others), Functionality (Static Robot and Mobile Robot), and Geography
Mar 2022
Analog to Digital Converter Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Integrating Analog to Digital Converters, Delta-Sigma Analog to Digital Converters, Successive Approximation Analog to Digital Converters, Ramp Analog to Digital Converters, and Others), Resolution (8-Bit, 10-Bit, 12-Bit, 14-Bit, 16-Bit, and Others), and Application (Industrial, Consumer Electronics, Automotive, Healthcare, Telecommunication, and Others), and Geography
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