MEMS Packaging Market Size Report, Share, Analysis & Forecast 2030

MEMS Packaging Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis By Sensor Type (Inertial Sensor, Optical Sensor, Environmental Sensor, Ultrasonic Sensor, RF MEMS, Others); End User (Automotive, Mobile Phones, Consumer Electronics, Medical Systems, Industrial, Other), and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00025679
  • Category : Electronics and Semiconductor
  • No. of Pages : 150
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MEMS Packaging Market Size Report, Share, Analysis & Forecast 2030

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[Research Report] The MEMS packaging market is expected to grow from 40.46 billion in 2022 to US$ 96.65 billion by 2030; it is projected to grow at a CAGR of 11.6% from 2022 to 2030.

MEMS Packaging Market Analyst Perspective:

Microelectromechanical systems (MEMS) advancements have historically focused on device functionality and sensitivity. However, due to the vast range of device dimensions and packages being device-specific, the packaging of MEMS devices has become a bottleneck. Despite the fact that the MEMS packaging market is expected to grow twice as quickly as the integrated circuit (IC) packaging sector, MEMS packaging remains one of the least investigated components of MEMS technology, accounting for up to 20-40% of total material and assembly costs. One critical challenge is the cleanliness of MEMS device surfaces after packaging, as contaminants may interfere with device performance and dependability.

To address these concerns, there are several sacrificial polymer-based airgap MEMS packaging as a low-cost, clean, IC-compatible, high-volume, semi-hermetic, wafer-level packaging solution. The goal is to stabilize and secure the mobile MEMS components within a protective envelope so that the MEMS chip can be treated like an integrated circuit (IC) and benefit from low-cost, high-volume IC packaging, such as lead-frame or plastic over molding. Complete thermal decomposition of a sacrificial polymer, poly(propylene carbonate) (PPC), encapsulated with overcoat materials such as BCB (Cyclotene) and epoxy-molding compound (EMC), and permeation of PPC decomposition products through the overcoat materials, are used in the airgap creation process.

The market is quickly expanding due to the numerous benefits these devices provide, such as their tiny size, low power consumption, and great dependability. The growing desire for miniaturization is one of the primary drivers of the MEMS packaging market. MEMS devices are becoming more appealing due to their compact dimensions as electronic gadgets continue to reduce in size. With the growing popularity of wearable electronics, there is an increasing demand for even smaller and more adaptable MEMS devices.

MEMS devices are also benefiting from the growing demand for electronic system reliability and safety. With an ever-expanding spectrum of applications for MEMS, there is also an increasing demand for components that can survive harsh environments or extreme circumstances, fit into a compact form factor, and perform reliably. MEMS devices require housings for a variety of reasons, and these housings are an important component of the system since they serve as the interface between the real MEMS and the rest of the device and the rest of the world.

MEMS Packaging Market Overview:

The MEMS packaging market is anticipated to grow in demand as global demand for smart automotive solutions rises. The growing need for linked devices and consumer electronics is projected to fuel the sensor market. Furthermore, global industrial sensor Utilization is expanding due to the increasing applications of sensors, fueling demand for MEM devices. MEMS packaging has developed from packaging MEMS devices to packaging MEMS systems as MEMS device applications have grown dramatically. Innovative and efficient packaging techniques, as well as innovative packaging materials, are becoming increasingly vital.

Among the driving developments in the market is the recent technological development of CMOS-compatible MEMS manufacturing techniques for low-temperature wafer bonding and other single-chip integration. Another new development is the use of bare wafer stacks for low-cost, lead-free semiconductor packaging. This allows for the creation of low-cost, small-pin packaging for high-volume manufacture. The growing popularity of MEMS is also fueling fresh demand in the embedded die MEMS packaging market. The technology is not new to the MEMS packaging market, but its high cost and low yields have limited it to niche uses despite the enormous potential for future improvement. Advances in Bluetooth and RF modules, as well as the rise of WiFi-6, will very certainly boost investment in this technology.

The increasing popularity of MEMS devices is also prompting MEMS packaging providers to develop more novel packaging strategies to improve the efficiency and operational performance of these devices. T-SMART, a major semiconductor manufacturing business in 2021, is developing a new MEMS packaging method based on Heterogeneous Integration for the thermopile sensor. Furthermore, MEMS packaging is more difficult than IC packaging, according to IEEE, due to the diversity of MEMS devices and the need for multiple devices to be in contact with and shielded from the environment at the same time. MEMS packaging also presents issues such as die handling, die attachment, interfacial tension, and outgassing. These novel MEMS packaging problems necessitate immediate R&D activities.

Strategic Insights

MEMS Packaging Market Driver:

Growing Adoption of Smartphones and Connected Devices is Expected to Drive the Demand in the MEMS packaging market

Globally, the number of smartphone users is rapidly increasing. Consumers are switching to smartphones to take advantage of the various features they provide, such as connectivity, payment, gaming, photography, and GPS. Because various sensors are integrated into the hardware of smartphones to enable such functionality, the growing number of smartphone users is projected to have a beneficial impact on the researched market growth. Furthermore, MEMS technologies are reshaping the consumer electronics sector. Consumer electronics device manufacturers are transforming standard gadgets into linked ones that can be readily operated remotely via smartphones by combining the MEMS microphones and CMOS image sensors found in all smartphones and tablets.   

MEMS Packaging Market Driver:

MEMS Packaging Market Segmental Analysis:

Based on product type, the market is segmented into sensor type and end user. The sensor type segment is further segmented as Optical Sensor, Inertial Sensor, Environmental Sensor, Ultrasonic Sensor, RF MEMS, and Others. The end user is further segmented into Automotive, Mobile Phones, Consumer Electronics, Medical Systems, Industrial, and Other. Inertial Sensors include accelerometers and gyroscopes used in devices like smartphones for motion sensing, navigation, and image stabilization. In MEMS packaging, these sensors are integrated to ensure precise measurements and reliable performance. Optical Sensors, such as ambient light sensors and proximity sensors, are employed in smartphones, cameras, and other devices. MEMS packaging optimizes their integration, maintaining accuracy and enhancing durability in various environmental conditions. Environmental Sensors MEMS packaging for environmental sensors like temperature, humidity, and pressure sensors is crucial for applications in smart homes, industrial settings, and weather monitoring. It protects the sensitive components from external factors, ensuring accurate readings. Ultrasonic Sensors Used in applications like distance measurement, object detection, and medical imaging, ultrasonic sensors benefit from MEMS packaging by providing compact, reliable, and efficient solutions. MEMS packaging enhances their performance while maintaining a small form factor. In the market, the focus is on miniaturization, reliability, and cost-effectiveness to meet the demands of diverse industries such as consumer electronics, automotive, healthcare, and industrial automation. The integration of these sensors in MEMS packaging facilitates the creation of advanced and compact devices with improved functionality. This is initiating the market.

 

MEMS Packaging Market Regional Analysis:

In the market, because of factors such as higher R&D capabilities, the presence of some of the largest semiconductor and tech companies such as Intel, Dell, and others, as well as higher penetration of electronic devices, IoT, and advanced automotive technologies, the North American region has traditionally been a major shareholder of the global electronics industry. For example, the region is regarded as a pioneer in the adoption of ADAS-enabled automobiles and autonomous mobility systems. According to Deutsche Bank, ADAS vehicle manufacturing in the United States was 18.45 million units in 2021.

MEMS devices are increasingly being used by automotive businesses to provide unique functionality to their vehicles. MEMS-based LiDARs, for example, were an option for autonomous/driverless automobiles, industrial robots, UAVs, and so on; in September 2021, General Motors picked Cepton to deliver MEME-based LiDAR for 2023 production. The Cepton LiDAR is intended to be used by General Motors to improve ADAS capabilities for autonomous emergency braking and pedestrian recognition, as well as to allow its future Ultra Cruise system. Companies are also focusing on developing cutting-edge sensors and getting recognition for their creative goods. For example, Unisem, a North American and global semiconductor assembly and test services supplier, won the Packaging Process Showdown at the MEMS and SENSORS Technical Congress (MSTC) in April 2022 for its presentation, MEMS Cavity.

MEMS Packaging Market Key Player Analysis:

The MEMS packaging market analysis consists of the players such as AAC Technologies, Analog Devices, Inc, Bosch Sensortec GmbH, ChipMos Technologies Inc, Infineon Technologies AG, MEMSCAP, Orbotech Ltd, Texas Instruments Incorporated, Taiwan Semiconductor Manufacturing Company Limited, TDK Corporation, are among the players in the market.

MEMS Packaging Market Recent Developments: 

Inorganic and organic strategies such as mergers and acquisitions are highly accepted by companies in the market. A few recent key market developments are listed below: 

  • In August 2022, MEMSIC, a MEMS technology solution provider, released the first MEMS 6-axis inertial sensor (IMU) MIC6100AL. The product integrates a 3-axis gyroscope and 3-axis accelerometer, which can support motion sensing interactive systems such as game controllers and smart remote controls, with sensitive sensing and greatly enhancing user experience. MEMSIC has a strong algorithm team to provide users with algorithm support, which can meet the needs of rich application scenarios.
  • In February 2022, STMicroelectronics introduced its third generation of MEMS sensors. The new sensors enable the next leap in performance and features for consumer mobiles and smart industries, healthcare, and retail.
  • In May 2023, Horizon Microtechnologies created a template-based 3D microfabrication method that adds functionality to plastic micro-AM parts and has potential in microelectrical-mechanical systems (MEMS) packaging.
  • In April 2022, Unisem, one of the global providers of semiconductor assembly and test services, won the Packaging Process Showdown at MEMS & Sensors Technical Congress (MSTC) for its presentation MEMS Cavity Packages —The Applications, Options and Considerations. More than 100 conference attendees chose Unisem gathered April 26-27 at the David Brower Center in Berkeley, California, for insights into the latest MEMS and sensors trends and innovations. SEMI MEMS & Sensors Industry Group (MSIG) stages the event.

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

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to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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to country scope.

TABLE OF CONTENTS

1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 MEMS Packaging Market - By Sensor Type
1.3.2 MEMS Packaging Market - By End User
1.3.3 MEMS Packaging Market - By Region
1.3.3.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. MEMS PACKAGING 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. MEMS PACKAGING 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. MEMS PACKAGING MARKET - GLOBAL MARKET ANALYSIS
6.1. MEMS PACKAGING - GLOBAL MARKET OVERVIEW
6.2. MEMS PACKAGING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING

7. MEMS PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 - SENSOR TYPE
7.1. OVERVIEW
7.2. SENSOR TYPE MARKET FORECASTS AND ANALYSIS
7.3. INERTIAL SENSOR
7.3.1. Overview
7.3.2. Inertial Sensor Market Forecast and Analysis
7.4. OPTICAL SENSOR
7.4.1. Overview
7.4.2. Optical Sensor Market Forecast and Analysis
7.5. ENVIRONMENTAL SENSOR
7.5.1. Overview
7.5.2. Environmental Sensor Market Forecast and Analysis
7.6. ULTRASONIC SENSOR
7.6.1. Overview
7.6.2. Ultrasonic Sensor Market Forecast and Analysis
7.7. RF MEMS
7.7.1. Overview
7.7.2. RF MEMS Market Forecast and Analysis
7.8. OTHERS
7.8.1. Overview
7.8.2. Others Market Forecast and Analysis
8. MEMS PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. AUTOMOTIVE
8.3.1. Overview
8.3.2. Automotive Market Forecast and Analysis
8.4. MOBILE PHONES
8.4.1. Overview
8.4.2. Mobile Phones Market Forecast and Analysis
8.5. CONSUMER ELECTRONICS
8.5.1. Overview
8.5.2. Consumer Electronics Market Forecast and Analysis
8.6. MEDICAL SYSTEMS
8.6.1. Overview
8.6.2. Medical Systems Market Forecast and Analysis
8.7. INDUSTRIAL
8.7.1. Overview
8.7.2. Industrial Market Forecast and Analysis
8.8. OTHER
8.8.1. Overview
8.8.2. Other Market Forecast and Analysis

9. MEMS PACKAGING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America MEMS Packaging Market Overview
9.1.2 North America MEMS Packaging Market Forecasts and Analysis
9.1.3 North America MEMS Packaging Market Forecasts and Analysis - By Sensor Type
9.1.4 North America MEMS Packaging Market Forecasts and Analysis - By End User
9.1.5 North America MEMS Packaging Market Forecasts and Analysis - By Countries
9.1.5.1 United States MEMS Packaging Market
9.1.5.1.1 United States MEMS Packaging Market by Sensor Type
9.1.5.1.2 United States MEMS Packaging Market by End User
9.1.5.2 Canada MEMS Packaging Market
9.1.5.2.1 Canada MEMS Packaging Market by Sensor Type
9.1.5.2.2 Canada MEMS Packaging Market by End User
9.1.5.3 Mexico MEMS Packaging Market
9.1.5.3.1 Mexico MEMS Packaging Market by Sensor Type
9.1.5.3.2 Mexico MEMS Packaging Market by End User
9.2. EUROPE
9.2.1 Europe MEMS Packaging Market Overview
9.2.2 Europe MEMS Packaging Market Forecasts and Analysis
9.2.3 Europe MEMS Packaging Market Forecasts and Analysis - By Sensor Type
9.2.4 Europe MEMS Packaging Market Forecasts and Analysis - By End User
9.2.5 Europe MEMS Packaging Market Forecasts and Analysis - By Countries
9.2.5.1 Germany MEMS Packaging Market
9.2.5.1.1 Germany MEMS Packaging Market by Sensor Type
9.2.5.1.2 Germany MEMS Packaging Market by End User
9.2.5.2 France MEMS Packaging Market
9.2.5.2.1 France MEMS Packaging Market by Sensor Type
9.2.5.2.2 France MEMS Packaging Market by End User
9.2.5.3 Italy MEMS Packaging Market
9.2.5.3.1 Italy MEMS Packaging Market by Sensor Type
9.2.5.3.2 Italy MEMS Packaging Market by End User
9.2.5.4 United Kingdom MEMS Packaging Market
9.2.5.4.1 United Kingdom MEMS Packaging Market by Sensor Type
9.2.5.4.2 United Kingdom MEMS Packaging Market by End User
9.2.5.5 Russia MEMS Packaging Market
9.2.5.5.1 Russia MEMS Packaging Market by Sensor Type
9.2.5.5.2 Russia MEMS Packaging Market by End User
9.2.5.6 Rest of Europe MEMS Packaging Market
9.2.5.6.1 Rest of Europe MEMS Packaging Market by Sensor Type
9.2.5.6.2 Rest of Europe MEMS Packaging Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific MEMS Packaging Market Overview
9.3.2 Asia-Pacific MEMS Packaging Market Forecasts and Analysis
9.3.3 Asia-Pacific MEMS Packaging Market Forecasts and Analysis - By Sensor Type
9.3.4 Asia-Pacific MEMS Packaging Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific MEMS Packaging Market Forecasts and Analysis - By Countries
9.3.5.1 Australia MEMS Packaging Market
9.3.5.1.1 Australia MEMS Packaging Market by Sensor Type
9.3.5.1.2 Australia MEMS Packaging Market by End User
9.3.5.2 China MEMS Packaging Market
9.3.5.2.1 China MEMS Packaging Market by Sensor Type
9.3.5.2.2 China MEMS Packaging Market by End User
9.3.5.3 India MEMS Packaging Market
9.3.5.3.1 India MEMS Packaging Market by Sensor Type
9.3.5.3.2 India MEMS Packaging Market by End User
9.3.5.4 Japan MEMS Packaging Market
9.3.5.4.1 Japan MEMS Packaging Market by Sensor Type
9.3.5.4.2 Japan MEMS Packaging Market by End User
9.3.5.5 South Korea MEMS Packaging Market
9.3.5.5.1 South Korea MEMS Packaging Market by Sensor Type
9.3.5.5.2 South Korea MEMS Packaging Market by End User
9.3.5.6 Rest of Asia-Pacific MEMS Packaging Market
9.3.5.6.1 Rest of Asia-Pacific MEMS Packaging Market by Sensor Type
9.3.5.6.2 Rest of Asia-Pacific MEMS Packaging Market by End User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa MEMS Packaging Market Overview
9.4.2 Middle East and Africa MEMS Packaging Market Forecasts and Analysis
9.4.3 Middle East and Africa MEMS Packaging Market Forecasts and Analysis - By Sensor Type
9.4.4 Middle East and Africa MEMS Packaging Market Forecasts and Analysis - By End User
9.4.5 Middle East and Africa MEMS Packaging Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa MEMS Packaging Market
9.4.5.1.1 South Africa MEMS Packaging Market by Sensor Type
9.4.5.1.2 South Africa MEMS Packaging Market by End User
9.4.5.2 Saudi Arabia MEMS Packaging Market
9.4.5.2.1 Saudi Arabia MEMS Packaging Market by Sensor Type
9.4.5.2.2 Saudi Arabia MEMS Packaging Market by End User
9.4.5.3 U.A.E MEMS Packaging Market
9.4.5.3.1 U.A.E MEMS Packaging Market by Sensor Type
9.4.5.3.2 U.A.E MEMS Packaging Market by End User
9.4.5.4 Rest of Middle East and Africa MEMS Packaging Market
9.4.5.4.1 Rest of Middle East and Africa MEMS Packaging Market by Sensor Type
9.4.5.4.2 Rest of Middle East and Africa MEMS Packaging Market by End User
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America MEMS Packaging Market Overview
9.5.2 South and Central America MEMS Packaging Market Forecasts and Analysis
9.5.3 South and Central America MEMS Packaging Market Forecasts and Analysis - By Sensor Type
9.5.4 South and Central America MEMS Packaging Market Forecasts and Analysis - By End User
9.5.5 South and Central America MEMS Packaging Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil MEMS Packaging Market
9.5.5.1.1 Brazil MEMS Packaging Market by Sensor Type
9.5.5.1.2 Brazil MEMS Packaging Market by End User
9.5.5.2 Argentina MEMS Packaging Market
9.5.5.2.1 Argentina MEMS Packaging Market by Sensor Type
9.5.5.2.2 Argentina MEMS Packaging Market by End User
9.5.5.3 Rest of South and Central America MEMS Packaging Market
9.5.5.3.1 Rest of South and Central America MEMS Packaging Market by Sensor Type
9.5.5.3.2 Rest of South and Central America MEMS Packaging Market by End User

10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

11. MEMS PACKAGING MARKET, KEY COMPANY PROFILES
11.1. AAC TECHNOLOGIES
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ANALOG DEVICES, INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BOSCH SENSORTEC GMBH
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. CHIPMOS TECHNOLOGIES INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. INFINEON TECHNOLOGIES AG
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. MEMSCAP
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. ORBOTECH LTD.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. TEXAS INSTRUMENTS INCORPORATED
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TDK CORPORATION
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments

12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS

The List of Companies

1. AAC Technologies
2. Analog Devices, Inc.
3. Bosch Sensortec GmbH
4. ChipMos Technologies Inc.
5. Infineon Technologies AG
6. MEMSCAP
7. Orbotech Ltd.
8. Texas Instruments Incorporated
9. Taiwan Semiconductor Manufacturing Company Limited
10. TDK Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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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