The Wireless Charging Market is expected to register a CAGR of 23.8% 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 Technology (Inductive Charging and Resonance Charging), Transmission Range (Short Range, Medium Range, and Long Range), Application [Consumer Electronics (Smartphones, PC and Tablets, Wearables, and Others), Automotive, Industrial, Government and Defense, 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 Wireless Charging 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.
Wireless Charging Market Segmentation
Technology- Inductive Charging
- Resonance Charging
- Short Range
- Medium Range
- Long Range
- Consumer Electronics
- Automotive
- Industrial
- Government and Defense
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Wireless Charging Market Growth Drivers- Increasing Adoption of Mobile Devices and Consumer Electronics: One of the primary drivers of the wireless charging market is the widespread use of smartphones and other consumer electronics that are incorporating wireless charging capabilities. Many top-tier smartphones, including those from Apple, Samsung, and Google, have adopted Qi-based wireless charging technology, making it a standard feature in modern devices. As consumers increasingly expect convenience in their technology, the demand for wireless charging is growing, as it provides a cable-free, simple way to charge devices.
- Growth of Electric Vehicles (EVs): The electric vehicle market is another major driver for the wireless charging industry. As electric vehicles become more popular due to growing environmental concerns and government incentives, automakers and tech companies are exploring wireless charging solutions as a more convenient way to charge EVs. Wireless EV charging offers the potential for hassle-free, automatic charging without the need for plugging in cables. Innovations like dynamic charging (which allows vehicles to be charged while driving over inductive charging pads) and static charging (charging when the vehicle is parked) are pushing the wireless charging market forward.
- Over-the-Air Charging: Over-the-Air Charging (OTAC) is the future of wireless charging because it is so convenient and eliminates physical touch between the charger and the device. In contrast to typical wireless charging technologies, which need items to be put on a certain surface, OTAC envisions a world in which your smartphone, smartwatch, or other gadgets can be charged simply by being near a charging source. Additionally, over-the-air wireless charging technology has been implemented into a variety of products, including smart locks and contactless charging stations.
- Demand for Wireless Charging in Automobiles: The automotive sector is witnessing a significant trend toward integrating wireless charging solutions in electric vehicles. This trend is not only limited to passenger cars but is also being extended to electric buses and trucks. As consumers and businesses seek more efficient ways to charge EVs, both static wireless charging (charging when the vehicle is parked) and dynamic wireless charging (allowing vehicles to charge while in motion) are gaining attention. This trend is being driven by advancements in inductive charging and regulatory support for green technologies, making wireless charging a viable solution for EVs in the future.
- Advances in Charging Technology: As wireless charging technology continues to improve, it is becoming more efficient, faster, and cost-effective. Developments in inductive and resonant charging technologies, such as increasing power transmission efficiency, are making wireless charging more competitive with wired charging. Companies are also working on increasing the charging range to make charging pads more convenient and eliminating the need for precise alignment. As the technology matures, wireless charging is expected to become more ubiquitous, thus driving its adoption across a broader range of applications.
- Expanding Application in Numerous Industries: Wireless charging technologies have expanded their presence in numerous industries, including healthcare, smart homes, healthcare, and others. Wireless technology is essential in medical devices where safety and hygiene are paramount. It powers implants and wearables without the use of intrusive connectors. Similarly, wireless charging technology is utilized to power equipment, robotics, and automated guided vehicles (AGVs). This technique increases productivity by removing the need for manual charging.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Wireless Charging 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 Wireless Charging 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
Over-the-air charging is likely to remain a key trend in the market.
Demand for fast wireless charging and the adoption of wireless charging for electric vehicles are the major factors driving the wireless charging market.
The Wireless Charging Market is estimated to witness a CAGR of 23.8% from 2023 to 2031
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 Wireless Charging Market - By Technology
1.3.2 Wireless Charging Market - By Transmission Range
1.3.3 Wireless Charging Market - By Application
1.3.4 Wireless Charging Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. WIRELESS CHARGING MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. WIRELESS CHARGING 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. WIRELESS CHARGING MARKET - GLOBAL MARKET ANALYSIS
6.1. WIRELESS CHARGING - GLOBAL MARKET OVERVIEW
6.2. WIRELESS CHARGING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. WIRELESS CHARGING MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
7.1. OVERVIEW
7.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. INDUCTIVE TECHNOLOGY
7.3.1. Overview
7.3.2. Inductive Technology Market Forecast and Analysis
7.4. RADIATION TECHNOLOGY
7.4.1. Overview
7.4.2. Radiation Technology Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. WIRELESS CHARGING MARKET - REVENUE AND FORECASTS TO 2028 - TRANSMISSION RANGE
8.1. OVERVIEW
8.2. TRANSMISSION RANGE MARKET FORECASTS AND ANALYSIS
8.3. SHORT
8.3.1. Overview
8.3.2. Short Market Forecast and Analysis
8.4. MEDIUM
8.4.1. Overview
8.4.2. Medium Market Forecast and Analysis
8.5. LONG
8.5.1. Overview
8.5.2. Long Market Forecast and Analysis
9. WIRELESS CHARGING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. AUTOMOTIVE
9.3.1. Overview
9.3.2. Automotive Market Forecast and Analysis
9.4. INDUSTRIAL
9.4.1. Overview
9.4.2. Industrial Market Forecast and Analysis
9.5. DEFENSE
9.5.1. Overview
9.5.2. Defense Market Forecast and Analysis
9.6. HEALTHCARE
9.6.1. Overview
9.6.2. Healthcare Market Forecast and Analysis
9.7. CONSUMER ELECTRONICS
9.7.1. Overview
9.7.2. Consumer Electronics Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. WIRELESS CHARGING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Wireless Charging Market Overview
10.1.2 North America Wireless Charging Market Forecasts and Analysis
10.1.3 North America Wireless Charging Market Forecasts and Analysis - By Technology
10.1.4 North America Wireless Charging Market Forecasts and Analysis - By Transmission Range
10.1.5 North America Wireless Charging Market Forecasts and Analysis - By Application
10.1.6 North America Wireless Charging Market Forecasts and Analysis - By Countries
10.1.6.1 United States Wireless Charging Market
10.1.6.1.1 United States Wireless Charging Market by Technology
10.1.6.1.2 United States Wireless Charging Market by Transmission Range
10.1.6.1.3 United States Wireless Charging Market by Application
10.1.6.2 Canada Wireless Charging Market
10.1.6.2.1 Canada Wireless Charging Market by Technology
10.1.6.2.2 Canada Wireless Charging Market by Transmission Range
10.1.6.2.3 Canada Wireless Charging Market by Application
10.1.6.3 Mexico Wireless Charging Market
10.1.6.3.1 Mexico Wireless Charging Market by Technology
10.1.6.3.2 Mexico Wireless Charging Market by Transmission Range
10.1.6.3.3 Mexico Wireless Charging Market by Application
10.2. EUROPE
10.2.1 Europe Wireless Charging Market Overview
10.2.2 Europe Wireless Charging Market Forecasts and Analysis
10.2.3 Europe Wireless Charging Market Forecasts and Analysis - By Technology
10.2.4 Europe Wireless Charging Market Forecasts and Analysis - By Transmission Range
10.2.5 Europe Wireless Charging Market Forecasts and Analysis - By Application
10.2.6 Europe Wireless Charging Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Wireless Charging Market
10.2.6.1.1 Germany Wireless Charging Market by Technology
10.2.6.1.2 Germany Wireless Charging Market by Transmission Range
10.2.6.1.3 Germany Wireless Charging Market by Application
10.2.6.2 France Wireless Charging Market
10.2.6.2.1 France Wireless Charging Market by Technology
10.2.6.2.2 France Wireless Charging Market by Transmission Range
10.2.6.2.3 France Wireless Charging Market by Application
10.2.6.3 Italy Wireless Charging Market
10.2.6.3.1 Italy Wireless Charging Market by Technology
10.2.6.3.2 Italy Wireless Charging Market by Transmission Range
10.2.6.3.3 Italy Wireless Charging Market by Application
10.2.6.4 United Kingdom Wireless Charging Market
10.2.6.4.1 United Kingdom Wireless Charging Market by Technology
10.2.6.4.2 United Kingdom Wireless Charging Market by Transmission Range
10.2.6.4.3 United Kingdom Wireless Charging Market by Application
10.2.6.5 Russia Wireless Charging Market
10.2.6.5.1 Russia Wireless Charging Market by Technology
10.2.6.5.2 Russia Wireless Charging Market by Transmission Range
10.2.6.5.3 Russia Wireless Charging Market by Application
10.2.6.6 Rest of Europe Wireless Charging Market
10.2.6.6.1 Rest of Europe Wireless Charging Market by Technology
10.2.6.6.2 Rest of Europe Wireless Charging Market by Transmission Range
10.2.6.6.3 Rest of Europe Wireless Charging Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Wireless Charging Market Overview
10.3.2 Asia-Pacific Wireless Charging Market Forecasts and Analysis
10.3.3 Asia-Pacific Wireless Charging Market Forecasts and Analysis - By Technology
10.3.4 Asia-Pacific Wireless Charging Market Forecasts and Analysis - By Transmission Range
10.3.5 Asia-Pacific Wireless Charging Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Wireless Charging Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Wireless Charging Market
10.3.6.1.1 Australia Wireless Charging Market by Technology
10.3.6.1.2 Australia Wireless Charging Market by Transmission Range
10.3.6.1.3 Australia Wireless Charging Market by Application
10.3.6.2 China Wireless Charging Market
10.3.6.2.1 China Wireless Charging Market by Technology
10.3.6.2.2 China Wireless Charging Market by Transmission Range
10.3.6.2.3 China Wireless Charging Market by Application
10.3.6.3 India Wireless Charging Market
10.3.6.3.1 India Wireless Charging Market by Technology
10.3.6.3.2 India Wireless Charging Market by Transmission Range
10.3.6.3.3 India Wireless Charging Market by Application
10.3.6.4 Japan Wireless Charging Market
10.3.6.4.1 Japan Wireless Charging Market by Technology
10.3.6.4.2 Japan Wireless Charging Market by Transmission Range
10.3.6.4.3 Japan Wireless Charging Market by Application
10.3.6.5 South Korea Wireless Charging Market
10.3.6.5.1 South Korea Wireless Charging Market by Technology
10.3.6.5.2 South Korea Wireless Charging Market by Transmission Range
10.3.6.5.3 South Korea Wireless Charging Market by Application
10.3.6.6 Rest of Asia-Pacific Wireless Charging Market
10.3.6.6.1 Rest of Asia-Pacific Wireless Charging Market by Technology
10.3.6.6.2 Rest of Asia-Pacific Wireless Charging Market by Transmission Range
10.3.6.6.3 Rest of Asia-Pacific Wireless Charging Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Wireless Charging Market Overview
10.4.2 Middle East and Africa Wireless Charging Market Forecasts and Analysis
10.4.3 Middle East and Africa Wireless Charging Market Forecasts and Analysis - By Technology
10.4.4 Middle East and Africa Wireless Charging Market Forecasts and Analysis - By Transmission Range
10.4.5 Middle East and Africa Wireless Charging Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Wireless Charging Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Wireless Charging Market
10.4.6.1.1 South Africa Wireless Charging Market by Technology
10.4.6.1.2 South Africa Wireless Charging Market by Transmission Range
10.4.6.1.3 South Africa Wireless Charging Market by Application
10.4.6.2 Saudi Arabia Wireless Charging Market
10.4.6.2.1 Saudi Arabia Wireless Charging Market by Technology
10.4.6.2.2 Saudi Arabia Wireless Charging Market by Transmission Range
10.4.6.2.3 Saudi Arabia Wireless Charging Market by Application
10.4.6.3 U.A.E Wireless Charging Market
10.4.6.3.1 U.A.E Wireless Charging Market by Technology
10.4.6.3.2 U.A.E Wireless Charging Market by Transmission Range
10.4.6.3.3 U.A.E Wireless Charging Market by Application
10.4.6.4 Rest of Middle East and Africa Wireless Charging Market
10.4.6.4.1 Rest of Middle East and Africa Wireless Charging Market by Technology
10.4.6.4.2 Rest of Middle East and Africa Wireless Charging Market by Transmission Range
10.4.6.4.3 Rest of Middle East and Africa Wireless Charging Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Wireless Charging Market Overview
10.5.2 South and Central America Wireless Charging Market Forecasts and Analysis
10.5.3 South and Central America Wireless Charging Market Forecasts and Analysis - By Technology
10.5.4 South and Central America Wireless Charging Market Forecasts and Analysis - By Transmission Range
10.5.5 South and Central America Wireless Charging Market Forecasts and Analysis - By Application
10.5.6 South and Central America Wireless Charging Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Wireless Charging Market
10.5.6.1.1 Brazil Wireless Charging Market by Technology
10.5.6.1.2 Brazil Wireless Charging Market by Transmission Range
10.5.6.1.3 Brazil Wireless Charging Market by Application
10.5.6.2 Argentina Wireless Charging Market
10.5.6.2.1 Argentina Wireless Charging Market by Technology
10.5.6.2.2 Argentina Wireless Charging Market by Transmission Range
10.5.6.2.3 Argentina Wireless Charging Market by Application
10.5.6.3 Rest of South and Central America Wireless Charging Market
10.5.6.3.1 Rest of South and Central America Wireless Charging Market by Technology
10.5.6.3.2 Rest of South and Central America Wireless Charging Market by Transmission Range
10.5.6.3.3 Rest of South and Central America Wireless Charging 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. WIRELESS CHARGING MARKET, KEY COMPANY PROFILES
12.1. APPLE 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. CONVENIENTPOWER HK LIMITED
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. ENERGIZER HOLDINGS, 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. RENESAS ELECTRONICS CORPORATION
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. LEGGETT AND PLATT, INCORPORATED
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. MURATA MANUFACTURING CO., LTD.
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. POWERMAT
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. QUALCOMM TECHNOLOGIES, INC.
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. TEXAS INSTRUMENTS INCORPORATED
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. WITRICITY CORPORATION
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
The List of Companies
1. Apple Inc.
2. ConvenientPower HK Limited
3. Energizer Holdings, Inc
4. Renesas Electronics Corporation
5. Leggett and Platt, Incorporated
6. Murata Manufacturing Co., Ltd.
7. Powermat
8. Qualcomm Technologies, Inc.
9. Texas Instruments Incorporated
10. WiTricity Corporation
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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