Asia-Pacific Air Cargo Security and Screening Systems Market Opportunities by 2028
Asia-Pacific Air Cargo Security and Screening Systems Market Forecast to 2028 – COVID-19 Impact and Regional Analysis by Cargo Size (Small Parcel, Break and Pallet Cargo, and Oversized Cargo), Technology (X-ray Systems, ETD, EDS, and Others), and Application (Narcotics Detection, Explosive Detection, Metal and Contraband Detection, and Others)
- Report Date : Jan 2022
- Report Code : TIPRE00026593
- Category : Aerospace and Defense
- Status : Published
- Available Report Formats :
- No. of Pages : 130
The APAC air cargo security and screening systems market is expected to grow from US$ 290.83 million in 2021 to US$ 453.11 million by 2028; it is estimated to grow at a CAGR of 6.5% from 2021 to 2028.
The transportation of temperature-sensitive products, such as chemicals, drugs, and medicines, creates a massive demand for air cargo. For instance, almost 68% of all biotech products are considered to be temperature sensitive. In addition, in August 2019, Marken announced clinical home healthcare services that consist of clinical drug storage, biologic sample collection, direct-to-patient delivery, central pharmacy, and home care/nursing services. Pharmaceutical companies are highly dependent on-air transportation due to factors such as time sensitivity and temperature-controlled transportation. The rapid growth of the pharmaceutical industry boosts the demand for transportation services for temperature-sensitive cargo. Also, the demand for these transportation services is increasing as new pharmaceutical and biotechnology products enter the market each day. Therefore, airlines using advanced cool chain solutions will be well-positioned to take full advantage of this growing demand. Airlines witness increasing demand for shipping services that cater to the needs of the pharmaceutical industry. Therefore, air cargo is required for supplying temperature-sensitive products to different places or countries. Along with the growing need for transportation, hidden explosive objects and narcotics have also been supplied. Therefore, a systematic screening system is needed at the airport. Also, with the ongoing COVID-19 pandemic, automatic advanced air cargo security and screening systems demand will increase contributing to the APAC market growth.
In case of COVID-19, APAC is highly affected especially India. The developing countries do not have required health infrastructure and this was the main reason that led to the increase in the count of recorded cases in 2020. As per the Organization for Economic Co-operation and Development (OECD), the pandemic has affected significant economies such as India, Australia, and Japan to some extent. Due to inadequate health and medicine facilities, government authorities had to impose restrictions of limited workforce at production sites. The cargo delivered to various parts of the country includes COVID-19 related medical equipment, reagents, enzymes, masks, testing kits & PPE, gloves & other accessories. Further, the ministry of civil aviation in India has undertaken continuous efforts at the policy level and ground level to add substantially to the country’s fight against COVID-19. For instance, Air India and IAF (Indian Air Force) collaborated for supplying medical equipment across Ladakh, Imphal, Dimapur, Gangtok, Bagdogra, Guwahati, Chennai, and Port Blair. A dedicated medical air cargo-related website Lifeline Udan has been launched and is functional. As per the Association of APAC Airlines (AAPA), the air cargo sector is actively transporting much-needed medical equipment and supplies in Asian countries. Therefore, with the growing demand for air cargo for supplying medical equipment, the requirement for security and screening systems has also increased. Thus, the air cargo business in APAC has reflected positive market growth.
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 APAC air cargo security and screening systems market. The APAC air cargo security and screening systems market is expected to grow at a good CAGR during the forecast period.
APAC Air Cargo Security and Screening Systems Market Revenue and Forecast to 2028 (US$ Million)
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APAC Air Cargo Security and Screening Systems Market Segmentation
APAC Air Cargo Security and Screening Systems Market – By Cargo Size
- Small Parcel
- Break and Pallet Cargo
- Oversized Cargo
APAC Air Cargo Security and Screening Systems Market – By Technology
- X-ray systems
- ETD
- EDS
- Others
APAC Air Cargo Security and Screening Systems Market – By Application
- Narcotics detection
- Explosive detection
- Metal and contraband detection
- Others
APAC Air Cargo Security and Screening Systems Market, by Country
- China
- Japan
- South Korea
- India
- Indonesia
- Singapore
- Malaysia
- Vietnam
- Thailand
- Rest of APAC
APAC Air Cargo Security and Screening Systems Market - Companies Mentioned
- Astrophysics Inc.
- Dhonaadhi Hitec Innovations
- Krystalvision Image Systems Pvt. Ltd.
- Nuctech Company Limited
- Rapiscan Systems, Inc.
- Safeway Inspection System Limited
- Safran
- Smiths Detection Group Ltd. (Smiths Group plc)
- VOTI Detection Inc.
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 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Air Cargo Security and Screening Systems Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. APAC Cargo Security and Screening Systems Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Surging Deployment of Security Screening Systems at Airports
5.1.2 Growing Need to Transport Temperature Sensitive Products
5.2 Market Restraints
5.2.1 Insufficient Technical Expertise and Attack on Airport IT Infrastructure
5.3 Market Opportunities
5.3.1 Escalating Safety Concerns Due to Rising Incidences of Terrorism
5.4 Future Trends
5.4.1 Burgeoning E-commerce Industry
5.5 Impact Analysis of Drivers and Restraints
6. Air Cargo Security and Screening Systems Market – APAC Analysis
6.1 APAC Air Cargo Security and Screening Systems Market
6.2 APAC: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
7. APAC Air Cargo Security and Screening Systems Market Analysis –By Cargo Size
7.1 Overview
7.2 APAC Air Cargo Security and Screening Systems Market Breakdown, By Cargo Size, 2020 & 2028
7.3 Small Parcel
7.3.1 Overview
7.3.2 Small Parcel: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Break and Pallet Cargo
7.4.1 Overview
7.4.2 Break and Pallet Cargo: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Oversized Cargo
7.5.1 Overview
7.5.2 Oversized Cargo: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
8. APAC Air Cargo Security and Screening Systems Market Analysis – By Technology
8.1 Overview
8.2 APAC Air Cargo Security and Screening Systems Market Breakdown, By Technology, 2020 & 2028
8.3 X-ray systems
8.3.1 Overview
8.3.2 X-ray systems: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
8.4 ETD
8.4.1 Overview
8.4.2 ETD: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
8.5 EDS
8.5.1 Overview
8.5.2 EDS: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
9. APAC Air Cargo Security and Screening Systems Market Analysis – By Application
9.1 Overview
9.2 APAC Air Cargo Security and Screening Systems Market Breakdown, By Application, 2020 & 2028
9.3 Narcotics Detection
9.3.1 Overview
9.3.2 Narcotics Detection: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Explosive Detection
9.4.1 Overview
9.4.2 Explosive Detection: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Metal and Contraband Detection
9.5.1 Overview
9.5.2 Metal and Contraband Detection: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
10. APAC Air Cargo Security and Screening Systems Market – Country Analysis
10.1 Overview
10.1.1 APAC: Air Cargo Security and Screening Systems Market, by Key Country
10.1.1.1 China: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US $ Million)
10.1.1.1.1 China: Air Cargo Security and Screening Systems Market, by Cargo Size
10.1.1.1.2 China: Air Cargo Security and Screening Systems Market, by Technology
10.1.1.1.3 China: Air Cargo Security and Screening Systems Market, by Application
10.1.1.2 Japan: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US $ Million)
10.1.1.2.1 Japan: Air Cargo Security and Screening Systems Market, by Cargo Size
10.1.1.2.2 Japan: Air Cargo Security and Screening Systems Market, by Technology
10.1.1.2.3 Japan: Air Cargo Security and Screening Systems Market, by Application
10.1.1.3 South Korea: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US $ Million)
10.1.1.3.1 South Korea: Air Cargo Security and Screening Systems Market, by Cargo Size
10.1.1.3.2 South Korea: Air Cargo Security and Screening Systems Market, by Technology
10.1.1.3.3 South Korea: Air Cargo Security and Screening Systems Market, by Application
10.1.1.4 India: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 India: Air Cargo Security and Screening Systems Market, by Size
10.1.1.4.2 India: Air Cargo Security and Screening Systems Market, by Technology
10.1.1.4.3 India: Air Cargo Security and Screening Systems Market, by Application
10.1.1.5 Indonesia: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.5.1 Indonesia: Air Cargo Security and Screening Systems Market, by Size
10.1.1.5.2 Indonesia: Air Cargo Security and Screening Systems Market, by Technology
10.1.1.5.3 Indonesia: Air Cargo Security and Screening Systems Market, by Application
10.1.1.6 Singapore: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.6.1 Singapore: Air Cargo Security and Screening Systems Market, by Size
10.1.1.6.2 Singapore: Air Cargo Security and Screening Systems Market, by Technology
10.1.1.6.3 Singapore: Air Cargo Security and Screening Systems Market, by Application
10.1.1.7 Malaysia: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.7.1 Malaysia: Air Cargo Security and Screening Systems Market, by Size
10.1.1.7.2 Malaysia: Air Cargo Security and Screening Systems Market, by Technology
10.1.1.7.3 Malaysia: Air Cargo Security and Screening Systems Market, by Application
10.1.1.8 Vietnam: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.8.1 Vietnam: Air Cargo Security and Screening Systems Market, by Size
10.1.1.8.2 Vietnam: Air Cargo Security and Screening Systems Market, by Technology
10.1.1.8.3 Vietnam: Air Cargo Security and Screening Systems Market, by Application
10.1.1.9 Thailand: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.9.1 Thailand: Air Cargo Security and Screening Systems Market, by Size
10.1.1.9.2 Thailand: Air Cargo Security and Screening Systems Market, by Technology
10.1.1.9.3 Thailand: Air Cargo Security and Screening Systems Market, by Application
10.1.1.10 Rest of APAC: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.10.1 Rest of APAC: Air Cargo Security and Screening Systems Market, by Size
10.1.1.10.2 Rest of APAC: Air Cargo Security and Screening Systems Market, by Technology
10.1.1.10.3 Rest of APAC: Air Cargo Security and Screening Systems Market, by Application
11. Impact of COVID-19 Pandemic on APAC Air Cargo Security and Screening System Market
11.1 APAC: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 New Product Development
13. Company Profiles
13.1 Astrophysics 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 Dhonaadhi Hitec Innovations
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 Krystalvision Image Systems Pvt. Ltd.
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 Nuctech Company Limited
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 Rapiscan Systems, Inc.
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 Safran
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 VOTI Detection 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 Safeway Inspection System Limited
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 Smiths Detection Group Ltd. (Smiths Group plc)
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
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. APAC Air Cargo Security and Screening Systems Market – Revenue, and Forecast to 2028 (US$ Million)
Table 2. APAC: Air Cargo Security and Screening Systems Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. China: Air Cargo Security and Screening Systems Market, by Cargo Size– Revenue and Forecast to 2028 (US $ Million)
Table 4. China: Air Cargo Security and Screening Systems Market, by Technology – Revenue and Forecast to 2028 (US $ Million)
Table 5. China: Air Cargo Security and Screening Systems Market, by Application – Revenue and Forecast to 2028 (US $ Million)
Table 6. Japan: Air Cargo Security and Screening Systems Market, by Cargo Size– Revenue and Forecast to 2028 (US $ Million)
Table 7. Japan: Air Cargo Security and Screening Systems Market, by Technology – Revenue and Forecast to 2028 (US $ Million)
Table 8. Japan: Air Cargo Security and Screening Systems Market, by Application – Revenue and Forecast to 2028 (US $ Million)
Table 9. South Korea: Air Cargo Security and Screening Systems Market, by Cargo Size– Revenue and Forecast to 2028 (US $ Million)
Table 10. South Korea: Air Cargo Security and Screening Systems Market, by Technology – Revenue and Forecast to 2028 (US $ Million)
Table 11. South Korea: Air Cargo Security and Screening Systems Market, by Application – Revenue and Forecast to 2028 (US $ Million)
Table 12. India: Air Cargo Security and Screening Systems Market, by Size –Revenue and Forecast to 2028 (US$ Million)
Table 13. India: Air Cargo Security and Screening Systems Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 14. India: Air Cargo Security and Screening Systems Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 15. Indonesia: Air Cargo Security and Screening Systems Market, by Size –Revenue and Forecast to 2028 (US$ Million)
Table 16. Indonesia: Air Cargo Security and Screening Systems Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 17. Indonesia: Air Cargo Security and Screening Systems Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 18. Singapore: Air Cargo Security and Screening Systems Market, by Size –Revenue and Forecast to 2028 (US$ Million)
Table 19. Singapore: Air Cargo Security and Screening Systems Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 20. Singapore: Air Cargo Security and Screening Systems Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 21. Malaysia: Air Cargo Security and Screening Systems Market, by Size –Revenue and Forecast to 2028 (US$ Million)
Table 22. Malaysia: Air Cargo Security and Screening Systems Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 23. Malaysia: Air Cargo Security and Screening Systems Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 24. Vietnam: Air Cargo Security and Screening Systems Market, by Size –Revenue and Forecast to 2028 (US$ Million)
Table 25. Vietnam: Air Cargo Security and Screening Systems Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 26. Vietnam: Air Cargo Security and Screening Systems Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 27. Thailand: Air Cargo Security and Screening Systems Market, by Size –Revenue and Forecast to 2028 (US$ Million)
Table 28. Thailand: Air Cargo Security and Screening Systems Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 29. Thailand: Air Cargo Security and Screening Systems Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 30. Rest of APAC: Air Cargo Security and Screening Systems Market, by Size –Revenue and Forecast to 2028 (US$ Million)
Table 31. Rest of APAC: Air Cargo Security and Screening Systems Market, by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 32. Rest of APAC: Air Cargo Security and Screening Systems Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 33. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Air Cargo Security and Screening Systems Market Segmentation
Figure 2. APAC Air Cargo Security and Screening Systems Market Segmentation – By Country
Figure 3. APAC Air Cargo Security and Screening Systems Market Overview
Figure 4. Break & Pallet Cargo Held the Largest Market Share in 2020
Figure 5. X-ray Systems Held the Largest Market Share in 2020
Figure 6. China Held the Largest Market Share in 2020
Figure 7. APAC – PEST Analysis
Figure 8. APAC Cargo Security and Screening Systems Market– Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. APAC Air Cargo Security and Screening Systems Market: Impact Analysis of Drivers and Restraints
Figure 11. APAC: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. APAC Air Cargo Security and Screening Systems Market Breakdown, By Cargo Size, 2020 & 2028 (%)
Figure 13. APAC Small Parcel: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. APAC Break and Pallet Cargo: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. APAC Oversized Cargo: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. APAC Air Cargo Security and Screening Systems Market Breakdown, By Technology, 2020 & 2028 (%)
Figure 17. APAC X-ray systems: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. APAC ETD: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. APAC EDS: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. APAC Others: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. APAC Air Cargo Security and Screening Systems Market Breakdown, By Application, 2020 & 2028 (%)
Figure 22. APAC Narcotics Detection: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. APAC Explosive Detection: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. APAC Metal and Contraband Detection: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. APAC Others: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. APAC: Air Cargo Security and Screening Systems Market Revenue Overview, by Country (2020) (US$ Mn)
Figure 27. APAC: Air Cargo Security and Screening Systems Market Revenue Share, by Key Country (2020 and 2028)
Figure 28. China: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US $ Million)
Figure 29. Japan: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US $ Million)
Figure 30. South Korea: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US $ Million)
Figure 31. India: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Indonesia: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Singapore: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Malaysia: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Vietnam: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 36. Thailand: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 37. Rest of APAC: Air Cargo Security and Screening Systems Market – Revenue and Forecast to 2028 (US$ Million)
Figure 38. Impact of COVID-19 Pandemic in APAC Country Markets
- Astrophysics Inc.
- Dhonaadhi Hitec Innovations
- Krystalvision Image Systems Pvt. Ltd.
- Nuctech Company Limited
- Rapiscan Systems, Inc.
- Safeway Inspection System Limited
- Safran
- Smiths Detection Group Ltd. (Smiths Group plc)
- VOTI Detection 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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