The Surrogacy Market is expected to register a CAGR of 8.5% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The Surrogacy Market report covers segmental analysis by Type (Gestational Surrogacy, Traditional Surrogacy); Technology (Intrauterine Insemination (IUI), In-vitro Fertilization (IVF)); Age Group (Below 35 years, 35-37 years, 38 - 39 years, 40-42 years, 43-44 years, Over 44 years); Service Provider (Hospitals, Fertility Clinics, Others), and Geography (North America, Europe, Asia Pacific, and South and Central America). The global analysis is further broken down at the regional level and major countries
Purpose of the ReportThe report Surrogacy 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.
Surrogacy Market Segmentation
Type- Gestational Surrogacy
- Traditional Surrogacy
- Intrauterine Insemination
- In-vitro Fertilization
- Below 35 years
- 35-37 years
- 38 - 39 years
- 40-42 years
- 43-44 years
- Over 44 years
- Hospitals
- Fertility Clinics
Strategic Insights
Surrogacy Market Growth Drivers- Growing Acceptance of LGBTQ+ Families: Growing social acceptability toward LGBTQ+ people and couples, particularly regarding building a family, has increased the growth of the surrogacy market. The majority of same-sex couples and single individuals seeking to build their families through surrogacy are the reasons behind the growing market. The higher the level of social acceptability, the more the demand for surrogacy services, and now families turn to this way to expand the household size.
- Increasing Awareness and Information Availability: More information on surrogacy means more knowledge and awareness, further expanding the market for surrogacy. With online resources, educational platforms, and social media campaigns, there have been added value in giving the basic knowledge regarding the surrogacy process, cost involved, legal considerations, and the ethical practices which go into it. In this way, more people can hence look into surrogacy as a legitimate and possible avenue in starting a family.
- Rise in Fertility Tourism: The major reason the market is seeing an uptrend is the new phenomenon of fertility tourism; a patient traveling for fertility treatment or surrogacy services. This surrogacy market in locations where it's cheaper or supported through the legal aspect, like India, Georgia, and Mexico, has really flourished. Surrogacy becomes enabled through fertility tourism because options become more affordable or legally secure to seek after that expand the market globally.
- Rising Demand for Ethical and Transparent Surrogacy Practices: There are more likely to be calls for increased transparency in the surrogacy process with increased knowledge of ethics associated with surrogacy. Future demand for surrogacy will include increasing demands for better compensation and support for the surrogates and clarity in legal and financial agreements. Surrogacy consumers are likely to be more selective and look for agencies and clinics that respect ethical standards that guarantee safety for all: the surrogate, the intended parents, and the child.
- Personalized and Tailored Surrogacy Experiences: Personalization will become very important with the shift in demand because people will demand to be in control of their surrogacy experience. This may range from customizing fertility treatments to matching surrogates with certain desired qualities or attributes and even creating specific legal agreements tailored to their needs. Given the evolution in the sophistication of the surrogacy market, clinics and agencies would be more open to providing one-of-a-kind services that create more flexibility while ensuring that everything goes smoothly as intended for intending parents to participate more intimately throughout the process.
- Growth of Corporate Fertility Benefits: Increased surrogacy business will take the corporate sector up in that trend because, first, with this increased rise, more firms began offering their staff fertility benefits and more of other companies continued. Most of them have enlarged on healthcare, involving fertility treatment but for some people will even provide even adoption aid along with its assistance. This trend would make surrogacy financially accessible to a greater segment of the population, especially for those working in larger corporations that provide all these comprehensive fertility benefits.
- Personalized Surrogacy Services: The need for more specialized reproductive services presents a strong opportunity to offer custom surrogacy packages. Custom fertility treatments, unique surrogate matching based on personal preferences (physical characteristics or health history), and customized legal contracts could be offered. It could attract a net-worth person to pay for a customized experience and can be more lenient for those ready to spend a higher amount to reach a certain result of surrogacy, thereby giving a profit-generating section in the market for surrogacy.
- Expanding Insurance Coverage for Surrogacy: Expanding the insurance cover to include fertility treatment such as surrogacy would bring huge opportunity to the insurance companies as well as to the service providers of surrogacy. The recognition of the demand of fertility services by companies and health insurers is increasing day by day, thus bringing in the opportunity to offer specialized insurance plans that can cover the cost of surrogacy, medical expenses, and legal fees. This can also make the options more affordable for the intended parents because the surrogacy clinics and agencies are linked with the insurance providers, increasing access and the desirability of surrogacy among the population.
- Collaboration with Healthcare Providers for Fertility Preservation: Fertility preservation, such as freezing eggs and sperms, will be in more demand as more and more people put off parenthood for career and personal reasons. These preservation services can be offered by surrogacy providers who collaborate with fertility clinics to offer a complete family planning solution. An overlap between fertility preservation and surrogacy services would mean that businesses would reach those who may eventually require surrogacy to actually build families, making their approach to reproductive healthcare more complete and accessible.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Surrogacy 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 Surrogacy 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
The Surrogacy Market is expected to register a CAGR of 8.5% from 2025-2031.
The major factors impacting the Surrogacy Market are: Growing Acceptance of LGBTQ+ Families, Advances in Assisted Reproductive Technologies (ART) and Legal and Regulatory Developments
Key future trends in this market are - Rising Demand for Ethical and Transparent Surrogacy Practices, Personalized and Tailored Surrogacy Experiences and Growth of Corporate Fertility Benefits
Key companies of this market are: New Hope Fertility Center, IVI-RMA Global, Scanfert AVA Clinic, Bourn Hall Fertility Clinic, Nova IVI Fertility, Bangkok IVF Center, Ovation Fertility, Extraordinary Conceptions, Max Healthcare, GROWING GENERATIONS LLC
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Surrogacy Market - By Type
1.3.2 Surrogacy Market - By Technology
1.3.3 Surrogacy Market - By Age Group
1.3.4 Surrogacy Market - By Service Provider
1.3.5 Surrogacy Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SURROGACY 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. EXPERT OPINIONS
5. SURROGACY 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. SURROGACY MARKET - GLOBAL MARKET ANALYSIS
6.1. SURROGACY - GLOBAL MARKET OVERVIEW
6.2. SURROGACY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SURROGACY MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. GESTATIONAL SURROGACY
7.3.1. Overview
7.3.2. Gestational Surrogacy Market Forecast and Analysis
7.4. TRADITIONAL SURROGACY
7.4.1. Overview
7.4.2. Traditional Surrogacy Market Forecast and Analysis
8. SURROGACY MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. INTRAUTERINE INSEMINATION (IUI)
8.3.1. Overview
8.3.2. Intrauterine Insemination (IUI) Market Forecast and Analysis
8.4. IN-VITRO FERTILIZATION (IVF)
8.4.1. Overview
8.4.2. In-vitro Fertilization (IVF) Market Forecast and Analysis
8.4.3. Classical/Standard IVF Market
8.4.3.1. Overview
8.4.3.2. Classical/Standard IVF Market Forecast and Analysis
8.4.4. Intracytoplasmic Sperm Injection (ICSI) Market
8.4.4.1. Overview
8.4.4.2. Intracytoplasmic Sperm Injection (ICSI) Market Forecast and Analysis
9. SURROGACY MARKET - REVENUE AND FORECASTS TO 2028 - AGE GROUP
9.1. OVERVIEW
9.2. AGE GROUP MARKET FORECASTS AND ANALYSIS
9.3. BELOW 35 YEARS
9.3.1. Overview
9.3.2. Below 35 years Market Forecast and Analysis
9.4. 35-37 YEARS
9.4.1. Overview
9.4.2. 35-37 years Market Forecast and Analysis
9.5. 38 - 39 YEARS
9.5.1. Overview
9.5.2. 38 - 39 years Market Forecast and Analysis
9.6. 40-42 YEARS
9.6.1. Overview
9.6.2. 40-42 years Market Forecast and Analysis
9.7. 43-44 YEARS
9.7.1. Overview
9.7.2. 43-44 years Market Forecast and Analysis
9.8. OVER 44 YEARS
9.8.1. Overview
9.8.2. Over 44 years Market Forecast and Analysis
10. SURROGACY MARKET - REVENUE AND FORECASTS TO 2028 - SERVICE PROVIDER
10.1. OVERVIEW
10.2. SERVICE PROVIDER MARKET FORECASTS AND ANALYSIS
10.3. HOSPITALS
10.3.1. Overview
10.3.2. Hospitals Market Forecast and Analysis
10.4. FERTILITY CLINICS
10.4.1. Overview
10.4.2. Fertility Clinics Market Forecast and Analysis
10.5. OTHERS
10.5.1. Overview
10.5.2. Others Market Forecast and Analysis
11. SURROGACY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Surrogacy Market Overview
11.1.2 North America Surrogacy Market Forecasts and Analysis
11.1.3 North America Surrogacy Market Forecasts and Analysis - By Type
11.1.4 North America Surrogacy Market Forecasts and Analysis - By Technology
11.1.5 North America Surrogacy Market Forecasts and Analysis - By Age Group
11.1.6 North America Surrogacy Market Forecasts and Analysis - By Service Provider
11.1.7 North America Surrogacy Market Forecasts and Analysis - By Countries
11.1.7.1 United States Surrogacy Market
11.1.7.1.1 United States Surrogacy Market by Type
11.1.7.1.2 United States Surrogacy Market by Technology
11.1.7.1.3 United States Surrogacy Market by Age Group
11.1.7.1.4 United States Surrogacy Market by Service Provider
11.1.7.2 Canada Surrogacy Market
11.1.7.2.1 Canada Surrogacy Market by Type
11.1.7.2.2 Canada Surrogacy Market by Technology
11.1.7.2.3 Canada Surrogacy Market by Age Group
11.1.7.2.4 Canada Surrogacy Market by Service Provider
11.1.7.3 Mexico Surrogacy Market
11.1.7.3.1 Mexico Surrogacy Market by Type
11.1.7.3.2 Mexico Surrogacy Market by Technology
11.1.7.3.3 Mexico Surrogacy Market by Age Group
11.1.7.3.4 Mexico Surrogacy Market by Service Provider
11.2. EUROPE
11.2.1 Europe Surrogacy Market Overview
11.2.2 Europe Surrogacy Market Forecasts and Analysis
11.2.3 Europe Surrogacy Market Forecasts and Analysis - By Type
11.2.4 Europe Surrogacy Market Forecasts and Analysis - By Technology
11.2.5 Europe Surrogacy Market Forecasts and Analysis - By Age Group
11.2.6 Europe Surrogacy Market Forecasts and Analysis - By Service Provider
11.2.7 Europe Surrogacy Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Surrogacy Market
11.2.7.1.1 Germany Surrogacy Market by Type
11.2.7.1.2 Germany Surrogacy Market by Technology
11.2.7.1.3 Germany Surrogacy Market by Age Group
11.2.7.1.4 Germany Surrogacy Market by Service Provider
11.2.7.2 France Surrogacy Market
11.2.7.2.1 France Surrogacy Market by Type
11.2.7.2.2 France Surrogacy Market by Technology
11.2.7.2.3 France Surrogacy Market by Age Group
11.2.7.2.4 France Surrogacy Market by Service Provider
11.2.7.3 Italy Surrogacy Market
11.2.7.3.1 Italy Surrogacy Market by Type
11.2.7.3.2 Italy Surrogacy Market by Technology
11.2.7.3.3 Italy Surrogacy Market by Age Group
11.2.7.3.4 Italy Surrogacy Market by Service Provider
11.2.7.4 Spain Surrogacy Market
11.2.7.4.1 Spain Surrogacy Market by Type
11.2.7.4.2 Spain Surrogacy Market by Technology
11.2.7.4.3 Spain Surrogacy Market by Age Group
11.2.7.4.4 Spain Surrogacy Market by Service Provider
11.2.7.5 United Kingdom Surrogacy Market
11.2.7.5.1 United Kingdom Surrogacy Market by Type
11.2.7.5.2 United Kingdom Surrogacy Market by Technology
11.2.7.5.3 United Kingdom Surrogacy Market by Age Group
11.2.7.5.4 United Kingdom Surrogacy Market by Service Provider
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Surrogacy Market Overview
11.3.2 Asia-Pacific Surrogacy Market Forecasts and Analysis
11.3.3 Asia-Pacific Surrogacy Market Forecasts and Analysis - By Type
11.3.4 Asia-Pacific Surrogacy Market Forecasts and Analysis - By Technology
11.3.5 Asia-Pacific Surrogacy Market Forecasts and Analysis - By Age Group
11.3.6 Asia-Pacific Surrogacy Market Forecasts and Analysis - By Service Provider
11.3.7 Asia-Pacific Surrogacy Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Surrogacy Market
11.3.7.1.1 Australia Surrogacy Market by Type
11.3.7.1.2 Australia Surrogacy Market by Technology
11.3.7.1.3 Australia Surrogacy Market by Age Group
11.3.7.1.4 Australia Surrogacy Market by Service Provider
11.3.7.2 China Surrogacy Market
11.3.7.2.1 China Surrogacy Market by Type
11.3.7.2.2 China Surrogacy Market by Technology
11.3.7.2.3 China Surrogacy Market by Age Group
11.3.7.2.4 China Surrogacy Market by Service Provider
11.3.7.3 India Surrogacy Market
11.3.7.3.1 India Surrogacy Market by Type
11.3.7.3.2 India Surrogacy Market by Technology
11.3.7.3.3 India Surrogacy Market by Age Group
11.3.7.3.4 India Surrogacy Market by Service Provider
11.3.7.4 Japan Surrogacy Market
11.3.7.4.1 Japan Surrogacy Market by Type
11.3.7.4.2 Japan Surrogacy Market by Technology
11.3.7.4.3 Japan Surrogacy Market by Age Group
11.3.7.4.4 Japan Surrogacy Market by Service Provider
11.3.7.5 South Korea Surrogacy Market
11.3.7.5.1 South Korea Surrogacy Market by Type
11.3.7.5.2 South Korea Surrogacy Market by Technology
11.3.7.5.3 South Korea Surrogacy Market by Age Group
11.3.7.5.4 South Korea Surrogacy Market by Service Provider
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Surrogacy Market Overview
11.4.2 Middle East and Africa Surrogacy Market Forecasts and Analysis
11.4.3 Middle East and Africa Surrogacy Market Forecasts and Analysis - By Type
11.4.4 Middle East and Africa Surrogacy Market Forecasts and Analysis - By Technology
11.4.5 Middle East and Africa Surrogacy Market Forecasts and Analysis - By Age Group
11.4.6 Middle East and Africa Surrogacy Market Forecasts and Analysis - By Service Provider
11.4.7 Middle East and Africa Surrogacy Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Surrogacy Market
11.4.7.1.1 South Africa Surrogacy Market by Type
11.4.7.1.2 South Africa Surrogacy Market by Technology
11.4.7.1.3 South Africa Surrogacy Market by Age Group
11.4.7.1.4 South Africa Surrogacy Market by Service Provider
11.4.7.2 Saudi Arabia Surrogacy Market
11.4.7.2.1 Saudi Arabia Surrogacy Market by Type
11.4.7.2.2 Saudi Arabia Surrogacy Market by Technology
11.4.7.2.3 Saudi Arabia Surrogacy Market by Age Group
11.4.7.2.4 Saudi Arabia Surrogacy Market by Service Provider
11.4.7.3 U.A.E Surrogacy Market
11.4.7.3.1 U.A.E Surrogacy Market by Type
11.4.7.3.2 U.A.E Surrogacy Market by Technology
11.4.7.3.3 U.A.E Surrogacy Market by Age Group
11.4.7.3.4 U.A.E Surrogacy Market by Service Provider
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Surrogacy Market Overview
11.5.2 South and Central America Surrogacy Market Forecasts and Analysis
11.5.3 South and Central America Surrogacy Market Forecasts and Analysis - By Type
11.5.4 South and Central America Surrogacy Market Forecasts and Analysis - By Technology
11.5.5 South and Central America Surrogacy Market Forecasts and Analysis - By Age Group
11.5.6 South and Central America Surrogacy Market Forecasts and Analysis - By Service Provider
11.5.7 South and Central America Surrogacy Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Surrogacy Market
11.5.7.1.1 Brazil Surrogacy Market by Type
11.5.7.1.2 Brazil Surrogacy Market by Technology
11.5.7.1.3 Brazil Surrogacy Market by Age Group
11.5.7.1.4 Brazil Surrogacy Market by Service Provider
11.5.7.2 Argentina Surrogacy Market
11.5.7.2.1 Argentina Surrogacy Market by Type
11.5.7.2.2 Argentina Surrogacy Market by Technology
11.5.7.2.3 Argentina Surrogacy Market by Age Group
11.5.7.2.4 Argentina Surrogacy Market by Service Provider
12. IMPACT OF COVID-19 PANDEMIC ON GLOBAL SURROGACY MARKET
12.1 North America
12.2 Europe
12.3 Asia-Pacific
12.4 Rest of the World
13. INDUSTRY LANDSCAPE
13.1. MERGERS AND ACQUISITIONS
13.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
13.3. NEW PRODUCT LAUNCHES
13.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14. SURROGACY MARKET, KEY COMPANY PROFILES
14.1. NEW HOPE FERTILITY CENTER
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. IVI-RMA GLOBAL
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. SCANFERT AVA CLINIC
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. BOURN HALL FERTILITY CLINIC
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. NOVA IVI FERTILITY
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. BANGKOK IVF CENTER
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. OVATION FERTILITY
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. EXTRAORDINARY CONCEPTIONS
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. MAX HEALTHCARE
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
14.10. GROWING GENERATIONS LLC
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Products and Services
14.10.4. Financial Overview
14.10.5. SWOT Analysis
14.10.6. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
1. New Hope Fertility Center
2. IVI-RMA Global
3. Scanfert AVA Clinic
4. Bourn Hall Fertility Clinic
5. Nova IVI Fertility
6. Bangkok IVF Center
7. Ovation Fertility
8. Extraordinary Conceptions
9. Max Healthcare
10. GROWING GENERATIONS LLC
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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