The Cloud Backup & Recovery Software Market is expected to register a CAGR of 18.2% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Organization Size (SMEs, Large Enterprises); Deployment Model (Private, Public, Hybrid); Application (Retail, Healthcare, IT and Telecom, Manufacturing, Public Sector, Others). 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 Cloud Backup & Recovery Software 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.
Cloud Backup & Recovery Software Market Segmentation
Organization Size- SMEs
- Large Enterprises
- Private
- Public
- Hybrid
- Retail
- Healthcare
- IT and Telecom
- Manufacturing
- Public Sector
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Cloud Backup & Recovery Software Market Growth Drivers- Rising Data Generation and Storage Needs: The exponential growth in data generation from digital transformation, IoT, and cloud adoption is a significant driver for the cloud backup and recovery software market. As businesses across industries increasingly rely on data for decision-making, the need for robust and secure backup solutions has surged. Cloud backup solutions offer scalable, efficient, and cost-effective ways to store vast amounts of data, ensuring business continuity in case of data loss, system failures, or cyberattacks. The growing reliance on data and cloud storage is propelling the demand for cloud backup and recovery solutions across enterprises of all sizes.
- Increasing Threat of Cyberattacks and Data Breaches: The rising threat of cyberattacks, ransomware, and data breaches is another key driver for the growth of the cloud backup and recovery software market. As organizations face growing cybersecurity risks, having reliable backup solutions to recover lost or compromised data has become critical. Cloud-based backup systems provide offsite data storage, reducing the risk of data loss from local hardware failure, natural disasters, or cyberattacks. The need for business continuity, coupled with strict data protection regulations like GDPR, is driving organizations to invest in comprehensive cloud backup and disaster recovery solutions to safeguard their digital assets.
- Shift Towards Hybrid and Multi-Cloud Environments: A prominent trend in the cloud backup and recovery software market is the adoption of hybrid and multi-cloud environments. Organizations are moving away from relying on a single cloud provider, opting for multi-cloud strategies to diversify risk, improve performance, and enhance redundancy. Hybrid cloud environments, which combine on-premises infrastructure with public and private clouds, are also gaining traction. This approach allows businesses to have more control over sensitive data while leveraging the scalability and flexibility of cloud storage for backup and recovery. The need for seamless integration between multiple cloud platforms is driving the development of more advanced backup and recovery solutions.
- Automation and AI Integration: Another significant trend is the increasing integration of automation and Artificial Intelligence (AI) into cloud backup and recovery solutions. AI-powered tools help automate backup processes, predict system failures, and identify potential risks, improving the overall efficiency and reliability of data protection. Automation reduces manual intervention, minimizes human error, and ensures timely backups, while AI-driven analytics provide actionable insights to optimize storage and recovery strategies. These advancements are making backup solutions more intelligent, proactive, and scalable, ensuring quicker data recovery times and better overall system resilience.
- Expansion in SMBs (Small and Medium-Sized Businesses): There is a growing opportunity for cloud backup and recovery software providers in the Small and Medium-Sized Business (SMB) segment. Many SMBs, especially in emerging markets, are increasingly recognizing the importance of data protection but lack the resources to maintain on-premises backup infrastructure. Cloud-based solutions offer a cost-effective, scalable alternative that enables SMBs to safeguard their data without significant upfront investments in hardware. As more SMBs migrate to cloud environments, they are seeking affordable, easy-to-deploy, and secure backup solutions, providing an untapped growth opportunity for cloud backup vendors.
- Emerging Market Adoption: Emerging markets, particularly in regions like Asia-Pacific, Latin America, and the Middle East, present substantial growth opportunities for the cloud backup and recovery software market. As businesses in these regions undergo digital transformation and increase their reliance on cloud computing, the demand for reliable data protection solutions is intensifying. Additionally, the adoption of cloud services is expected to accelerate as internet connectivity improves and organizations prioritize data security and compliance. Offering tailored solutions that address local regulatory requirements and industry needs presents a significant opportunity for global cloud backup providers to expand their footprint in these regions.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Cloud Backup & Recovery Software 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 Cloud Backup & Recovery Software Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- 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
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
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 report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Integration of multi-cloud environments to play a significant role in the global cloud backup & recovery software market in the coming years
Data security and compliance and data growth rate are the major factors driving the cloud backup & recovery software market
The Cloud Backup & Recovery Software Market is estimated to witness a CAGR of 18.2% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Cloud Backup & Recovery Software Market - By Organization Size
1.3.2 Cloud Backup & Recovery Software Market - By Deployment Model
1.3.3 Cloud Backup & Recovery Software Market - By Application
1.3.4 Cloud Backup & Recovery Software Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. CLOUD BACKUP & RECOVERY SOFTWARE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. CLOUD BACKUP & RECOVERY SOFTWARE 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. CLOUD BACKUP & RECOVERY SOFTWARE MARKET - GLOBAL MARKET ANALYSIS
6.1. CLOUD BACKUP & RECOVERY SOFTWARE - GLOBAL MARKET OVERVIEW
6.2. CLOUD BACKUP & RECOVERY SOFTWARE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. CLOUD BACKUP & RECOVERY SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - ORGANIZATION SIZE
7.1. OVERVIEW
7.2. ORGANIZATION SIZE MARKET FORECASTS AND ANALYSIS
7.3. SMES
7.3.1. Overview
7.3.2. SMEs Market Forecast and Analysis
7.4. LARGE ENTERPRISES
7.4.1. Overview
7.4.2. Large Enterprises Market Forecast and Analysis
8. CLOUD BACKUP & RECOVERY SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT MODEL
8.1. OVERVIEW
8.2. DEPLOYMENT MODEL MARKET FORECASTS AND ANALYSIS
8.3. PRIVATE
8.3.1. Overview
8.3.2. Private Market Forecast and Analysis
8.4. PUBLIC
8.4.1. Overview
8.4.2. Public Market Forecast and Analysis
8.5. HYBRID
8.5.1. Overview
8.5.2. Hybrid Market Forecast and Analysis
9. CLOUD BACKUP & RECOVERY SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. RETAIL
9.3.1. Overview
9.3.2. Retail Market Forecast and Analysis
9.4. HEALTHCARE
9.4.1. Overview
9.4.2. Healthcare Market Forecast and Analysis
9.5. IT AND TELECOM
9.5.1. Overview
9.5.2. IT and Telecom Market Forecast and Analysis
9.6. MANUFACTURING
9.6.1. Overview
9.6.2. Manufacturing Market Forecast and Analysis
9.7. PUBLIC SECTOR
9.7.1. Overview
9.7.2. Public Sector Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. CLOUD BACKUP & RECOVERY SOFTWARE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Cloud Backup & Recovery Software Market Overview
10.1.2 North America Cloud Backup & Recovery Software Market Forecasts and Analysis
10.1.3 North America Cloud Backup & Recovery Software Market Forecasts and Analysis - By Organization Size
10.1.4 North America Cloud Backup & Recovery Software Market Forecasts and Analysis - By Deployment Model
10.1.5 North America Cloud Backup & Recovery Software Market Forecasts and Analysis - By Application
10.1.6 North America Cloud Backup & Recovery Software Market Forecasts and Analysis - By Countries
10.1.6.1 United States Cloud Backup & Recovery Software Market
10.1.6.1.1 United States Cloud Backup & Recovery Software Market by Organization Size
10.1.6.1.2 United States Cloud Backup & Recovery Software Market by Deployment Model
10.1.6.1.3 United States Cloud Backup & Recovery Software Market by Application
10.1.6.2 Canada Cloud Backup & Recovery Software Market
10.1.6.2.1 Canada Cloud Backup & Recovery Software Market by Organization Size
10.1.6.2.2 Canada Cloud Backup & Recovery Software Market by Deployment Model
10.1.6.2.3 Canada Cloud Backup & Recovery Software Market by Application
10.1.6.3 Mexico Cloud Backup & Recovery Software Market
10.1.6.3.1 Mexico Cloud Backup & Recovery Software Market by Organization Size
10.1.6.3.2 Mexico Cloud Backup & Recovery Software Market by Deployment Model
10.1.6.3.3 Mexico Cloud Backup & Recovery Software Market by Application
10.2. EUROPE
10.2.1 Europe Cloud Backup & Recovery Software Market Overview
10.2.2 Europe Cloud Backup & Recovery Software Market Forecasts and Analysis
10.2.3 Europe Cloud Backup & Recovery Software Market Forecasts and Analysis - By Organization Size
10.2.4 Europe Cloud Backup & Recovery Software Market Forecasts and Analysis - By Deployment Model
10.2.5 Europe Cloud Backup & Recovery Software Market Forecasts and Analysis - By Application
10.2.6 Europe Cloud Backup & Recovery Software Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Cloud Backup & Recovery Software Market
10.2.6.1.1 Germany Cloud Backup & Recovery Software Market by Organization Size
10.2.6.1.2 Germany Cloud Backup & Recovery Software Market by Deployment Model
10.2.6.1.3 Germany Cloud Backup & Recovery Software Market by Application
10.2.6.2 France Cloud Backup & Recovery Software Market
10.2.6.2.1 France Cloud Backup & Recovery Software Market by Organization Size
10.2.6.2.2 France Cloud Backup & Recovery Software Market by Deployment Model
10.2.6.2.3 France Cloud Backup & Recovery Software Market by Application
10.2.6.3 Italy Cloud Backup & Recovery Software Market
10.2.6.3.1 Italy Cloud Backup & Recovery Software Market by Organization Size
10.2.6.3.2 Italy Cloud Backup & Recovery Software Market by Deployment Model
10.2.6.3.3 Italy Cloud Backup & Recovery Software Market by Application
10.2.6.4 United Kingdom Cloud Backup & Recovery Software Market
10.2.6.4.1 United Kingdom Cloud Backup & Recovery Software Market by Organization Size
10.2.6.4.2 United Kingdom Cloud Backup & Recovery Software Market by Deployment Model
10.2.6.4.3 United Kingdom Cloud Backup & Recovery Software Market by Application
10.2.6.5 Russia Cloud Backup & Recovery Software Market
10.2.6.5.1 Russia Cloud Backup & Recovery Software Market by Organization Size
10.2.6.5.2 Russia Cloud Backup & Recovery Software Market by Deployment Model
10.2.6.5.3 Russia Cloud Backup & Recovery Software Market by Application
10.2.6.6 Rest of Europe Cloud Backup & Recovery Software Market
10.2.6.6.1 Rest of Europe Cloud Backup & Recovery Software Market by Organization Size
10.2.6.6.2 Rest of Europe Cloud Backup & Recovery Software Market by Deployment Model
10.2.6.6.3 Rest of Europe Cloud Backup & Recovery Software Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Cloud Backup & Recovery Software Market Overview
10.3.2 Asia-Pacific Cloud Backup & Recovery Software Market Forecasts and Analysis
10.3.3 Asia-Pacific Cloud Backup & Recovery Software Market Forecasts and Analysis - By Organization Size
10.3.4 Asia-Pacific Cloud Backup & Recovery Software Market Forecasts and Analysis - By Deployment Model
10.3.5 Asia-Pacific Cloud Backup & Recovery Software Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Cloud Backup & Recovery Software Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Cloud Backup & Recovery Software Market
10.3.6.1.1 Australia Cloud Backup & Recovery Software Market by Organization Size
10.3.6.1.2 Australia Cloud Backup & Recovery Software Market by Deployment Model
10.3.6.1.3 Australia Cloud Backup & Recovery Software Market by Application
10.3.6.2 China Cloud Backup & Recovery Software Market
10.3.6.2.1 China Cloud Backup & Recovery Software Market by Organization Size
10.3.6.2.2 China Cloud Backup & Recovery Software Market by Deployment Model
10.3.6.2.3 China Cloud Backup & Recovery Software Market by Application
10.3.6.3 India Cloud Backup & Recovery Software Market
10.3.6.3.1 India Cloud Backup & Recovery Software Market by Organization Size
10.3.6.3.2 India Cloud Backup & Recovery Software Market by Deployment Model
10.3.6.3.3 India Cloud Backup & Recovery Software Market by Application
10.3.6.4 Japan Cloud Backup & Recovery Software Market
10.3.6.4.1 Japan Cloud Backup & Recovery Software Market by Organization Size
10.3.6.4.2 Japan Cloud Backup & Recovery Software Market by Deployment Model
10.3.6.4.3 Japan Cloud Backup & Recovery Software Market by Application
10.3.6.5 South Korea Cloud Backup & Recovery Software Market
10.3.6.5.1 South Korea Cloud Backup & Recovery Software Market by Organization Size
10.3.6.5.2 South Korea Cloud Backup & Recovery Software Market by Deployment Model
10.3.6.5.3 South Korea Cloud Backup & Recovery Software Market by Application
10.3.6.6 Rest of Asia-Pacific Cloud Backup & Recovery Software Market
10.3.6.6.1 Rest of Asia-Pacific Cloud Backup & Recovery Software Market by Organization Size
10.3.6.6.2 Rest of Asia-Pacific Cloud Backup & Recovery Software Market by Deployment Model
10.3.6.6.3 Rest of Asia-Pacific Cloud Backup & Recovery Software Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Cloud Backup & Recovery Software Market Overview
10.4.2 Middle East and Africa Cloud Backup & Recovery Software Market Forecasts and Analysis
10.4.3 Middle East and Africa Cloud Backup & Recovery Software Market Forecasts and Analysis - By Organization Size
10.4.4 Middle East and Africa Cloud Backup & Recovery Software Market Forecasts and Analysis - By Deployment Model
10.4.5 Middle East and Africa Cloud Backup & Recovery Software Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Cloud Backup & Recovery Software Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Cloud Backup & Recovery Software Market
10.4.6.1.1 South Africa Cloud Backup & Recovery Software Market by Organization Size
10.4.6.1.2 South Africa Cloud Backup & Recovery Software Market by Deployment Model
10.4.6.1.3 South Africa Cloud Backup & Recovery Software Market by Application
10.4.6.2 Saudi Arabia Cloud Backup & Recovery Software Market
10.4.6.2.1 Saudi Arabia Cloud Backup & Recovery Software Market by Organization Size
10.4.6.2.2 Saudi Arabia Cloud Backup & Recovery Software Market by Deployment Model
10.4.6.2.3 Saudi Arabia Cloud Backup & Recovery Software Market by Application
10.4.6.3 U.A.E Cloud Backup & Recovery Software Market
10.4.6.3.1 U.A.E Cloud Backup & Recovery Software Market by Organization Size
10.4.6.3.2 U.A.E Cloud Backup & Recovery Software Market by Deployment Model
10.4.6.3.3 U.A.E Cloud Backup & Recovery Software Market by Application
10.4.6.4 Rest of Middle East and Africa Cloud Backup & Recovery Software Market
10.4.6.4.1 Rest of Middle East and Africa Cloud Backup & Recovery Software Market by Organization Size
10.4.6.4.2 Rest of Middle East and Africa Cloud Backup & Recovery Software Market by Deployment Model
10.4.6.4.3 Rest of Middle East and Africa Cloud Backup & Recovery Software Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Cloud Backup & Recovery Software Market Overview
10.5.2 South and Central America Cloud Backup & Recovery Software Market Forecasts and Analysis
10.5.3 South and Central America Cloud Backup & Recovery Software Market Forecasts and Analysis - By Organization Size
10.5.4 South and Central America Cloud Backup & Recovery Software Market Forecasts and Analysis - By Deployment Model
10.5.5 South and Central America Cloud Backup & Recovery Software Market Forecasts and Analysis - By Application
10.5.6 South and Central America Cloud Backup & Recovery Software Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Cloud Backup & Recovery Software Market
10.5.6.1.1 Brazil Cloud Backup & Recovery Software Market by Organization Size
10.5.6.1.2 Brazil Cloud Backup & Recovery Software Market by Deployment Model
10.5.6.1.3 Brazil Cloud Backup & Recovery Software Market by Application
10.5.6.2 Argentina Cloud Backup & Recovery Software Market
10.5.6.2.1 Argentina Cloud Backup & Recovery Software Market by Organization Size
10.5.6.2.2 Argentina Cloud Backup & Recovery Software Market by Deployment Model
10.5.6.2.3 Argentina Cloud Backup & Recovery Software Market by Application
10.5.6.3 Rest of South and Central America Cloud Backup & Recovery Software Market
10.5.6.3.1 Rest of South and Central America Cloud Backup & Recovery Software Market by Organization Size
10.5.6.3.2 Rest of South and Central America Cloud Backup & Recovery Software Market by Deployment Model
10.5.6.3.3 Rest of South and Central America Cloud Backup & Recovery Software Market by Application
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. CLOUD BACKUP & RECOVERY SOFTWARE MARKET, KEY COMPANY PROFILES
12.1. ACTIFIO INC.
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. COMMVAULT
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. CA TECHNOLOGIES (BROADCOM INC.)
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. DELL TECHNOLOGIES INC.
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. HEWLETT PACKARD ENTERPRISE DEVELOPMENT LP
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. IBM CORPORATION
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. MICROSOFT CORPORATION
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. SYMANTEC CORPORATION
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. VERITAS TECHNOLOGIES LLC
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. VEEAM SOFTWARE
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Actifio Inc.
2. Commvault
3. CA Technologies (Broadcom Inc.)
4. Dell Technologies Inc.
5. Hewlett Packard Enterprise Development LP
6. IBM Corporation
7. Microsoft Corporation
8. Symantec Corporation
9. Veritas Technologies LLC
10. Veeam Software
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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