MARKET OVERVIEW
Agricultural micronutrients aid in plant growth and development. Boron, iron, copper, manganese, nickel, chlorine, molybdenum, and zinc are examples of agricultural micronutrients. These micronutrients are present naturally in the soil, but soil loses them due to leaching, monocropping, and soil erosion. Lack of micronutrients in agriculture leads to decline in the productivity of the plants. Further, their deficiencies can reduce growth and cause abnormalities in the plants. Each of the micronutrients have distinct function and play a vital role in the plant growth. For instance, iron is needed for the formation of chlorophyll; molybdenum helps to produce ammonia in plants and also enables plant to utilize nitrogen; boron and zinc add in quality of seed development. These each of the micronutrients have crucial role in the growth of plants and have gained significant importance in the agriculture industry. The global agricultural micronutrients market can be affected by rising population, leading to concerns of food security, and declining soil fertility.
MARKET DYNAMICS
The agricultural micronutrients market is expected to witness significant growth in the upcoming years. Factors such as soil pH, temperature, and humidity reduce the accessibility of micronutrients in the soil. Thus, the need to restore such nutrients in the soil can drive the growth of the market. The rising soil contamination and subsiding cultivable lands in primary agricultural economies can accelerate the growth of the market. The increasing population leading to a rise in food security further boosts the growth of agricultural micronutrients market. The development of precise agricultural equipment coupled with rising awareness of plant nutrition is expected to invigorate the industry in the forecasted timeframe. Also, government of various countries are taking initiatives and working towards controlling micronutrient deficiency in agricultural lands. Such government support will uplift the market demand in the coming years. However, in developed economies such as France, Germany, and the US, the production of organic food is rising steeply, leading to an increase in the use of organic fertilizers. The agriculture micronutrients market can face prominent competition due to organic fertilizers.
MARKET SCOPE AND REPORT FEATURES
The “Global Agricultural Micronutrients Market Analysis to 2030” is a specialized and in-depth study with a major focus on the global market trends and growth opportunities. The report aims to provide an overview of the global market with detailed market segmentation by type, crop type, application, and geography. The global agricultural micronutrients market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of agricultural micronutrients worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the agricultural micronutrients market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in agricultural micronutrients market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global agricultural micronutrients market, which helps understand the entire supply chain and various factors affecting the market growth.
SEGMENTAL ANALYSIS
The global agricultural micronutrients market is segmented on the basis of type, crop type and application. Based on type, the agricultural micronutrients market is segmented as zinc, iron, boron, manganese, molybdenum and others. On the basis of crop type, the market is classified as cereals and grains, oilseeds and pulses, fruits and vegetables, and others. The agricultural micronutrients market is categorized on the basis of application into, soil, fertigation, foliar, and others.
Based on type, the zinc type segment is forecasted to show dominance in the market. Zinc deficiency is one of the widespread micronutrient deficiencies across the world. Zinc activates the enzyme system for the production of growth regulator and thus, is an important micronutrient needed for plants to grow. Moreover, there is a limited supply of mineral supplies for zinc raw material, thereby driving the market for zinc. Being an important micronutrient, governments worldwide are taking steps to surge the zinc content in agriculture products to suppress its deficiency.
REGIONAL INSIGHTS
The report provides a detailed overview of the global agricultural micronutrients market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Asia-Pacific accounts for the significant growth during the predicted timeframe due to the advanced agricultural practices and rising awareness for superior quality of agricultural products. Many government regulations of the Asia Pacific region and large subsidies for the nutrition of crops, which sometimes reach 100% for marginal farmers, trigger the market's growth to a large extent. Further, the rising awareness among farmers in the region and the surging production of high-value crops escalates the market expansion in the Asia-Pacific region.
MARKET PLAYERS
Some of the key players operating in the agricultural micronutrients market include, AkzoNobel, BASF SE, Nutrien, Ltd., Haifa Group, ATP Nutrition, Helena Chemical Company, Baicor LC, Sapec SA, Balchem, BMS Micronutrient NV, Compass Minerals International, Stoller Enterprises Inc, Yara International ASA, Coromandel International Ltd, and The Mosaic Company among others.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
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 Agricultural Micronutrients Market - By Type
1.3.2 Agricultural Micronutrients Market - By Crop Type
1.3.3 Agricultural Micronutrients Market - By Application
1.3.4 Agricultural Micronutrients Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AGRICULTURAL MICRONUTRIENTS 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. EXPERT OPINIONS
5. AGRICULTURAL MICRONUTRIENTS 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. AGRICULTURAL MICRONUTRIENTS MARKET - GLOBAL MARKET ANALYSIS
6.1. AGRICULTURAL MICRONUTRIENTS - GLOBAL MARKET OVERVIEW
6.2. AGRICULTURAL MICRONUTRIENTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AGRICULTURAL MICRONUTRIENTS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. ZINC
7.3.1. Overview
7.3.2. Zinc Market Forecast and Analysis
7.4. IRON
7.4.1. Overview
7.4.2. Iron Market Forecast and Analysis
7.5. BORON
7.5.1. Overview
7.5.2. Boron Market Forecast and Analysis
7.6. MANGANESE
7.6.1. Overview
7.6.2. Manganese Market Forecast and Analysis
7.7. MOLYBDENUM
7.7.1. Overview
7.7.2. Molybdenum Market Forecast and Analysis
7.8. OTHERS
7.8.1. Overview
7.8.2. Others Market Forecast and Analysis
8. AGRICULTURAL MICRONUTRIENTS MARKET - REVENUE AND FORECASTS TO 2028 - CROP TYPE
8.1. OVERVIEW
8.2. CROP TYPE MARKET FORECASTS AND ANALYSIS
8.3. CEREALS AND GRAINS
8.3.1. Overview
8.3.2. Cereals and Grains Market Forecast and Analysis
8.4. OILSEEDS AND PULSES
8.4.1. Overview
8.4.2. Oilseeds and Pulses Market Forecast and Analysis
8.5. FRUITS AND VEGETABLES
8.5.1. Overview
8.5.2. Fruits and Vegetables Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. AGRICULTURAL MICRONUTRIENTS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. SOIL
9.3.1. Overview
9.3.2. Soil Market Forecast and Analysis
9.4. FERTIGATION
9.4.1. Overview
9.4.2. Fertigation Market Forecast and Analysis
9.5. FOLIAR
9.5.1. Overview
9.5.2. Foliar Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. AGRICULTURAL MICRONUTRIENTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Agricultural Micronutrients Market Overview
10.1.2 North America Agricultural Micronutrients Market Forecasts and Analysis
10.1.3 North America Agricultural Micronutrients Market Forecasts and Analysis - By Type
10.1.4 North America Agricultural Micronutrients Market Forecasts and Analysis - By Crop Type
10.1.5 North America Agricultural Micronutrients Market Forecasts and Analysis - By Application
10.1.6 North America Agricultural Micronutrients Market Forecasts and Analysis - By Countries
10.1.6.1 United States Agricultural Micronutrients Market
10.1.6.1.1 United States Agricultural Micronutrients Market by Type
10.1.6.1.2 United States Agricultural Micronutrients Market by Crop Type
10.1.6.1.3 United States Agricultural Micronutrients Market by Application
10.1.6.2 Canada Agricultural Micronutrients Market
10.1.6.2.1 Canada Agricultural Micronutrients Market by Type
10.1.6.2.2 Canada Agricultural Micronutrients Market by Crop Type
10.1.6.2.3 Canada Agricultural Micronutrients Market by Application
10.1.6.3 Mexico Agricultural Micronutrients Market
10.1.6.3.1 Mexico Agricultural Micronutrients Market by Type
10.1.6.3.2 Mexico Agricultural Micronutrients Market by Crop Type
10.1.6.3.3 Mexico Agricultural Micronutrients Market by Application
10.2. EUROPE
10.2.1 Europe Agricultural Micronutrients Market Overview
10.2.2 Europe Agricultural Micronutrients Market Forecasts and Analysis
10.2.3 Europe Agricultural Micronutrients Market Forecasts and Analysis - By Type
10.2.4 Europe Agricultural Micronutrients Market Forecasts and Analysis - By Crop Type
10.2.5 Europe Agricultural Micronutrients Market Forecasts and Analysis - By Application
10.2.6 Europe Agricultural Micronutrients Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Agricultural Micronutrients Market
10.2.6.1.1 Germany Agricultural Micronutrients Market by Type
10.2.6.1.2 Germany Agricultural Micronutrients Market by Crop Type
10.2.6.1.3 Germany Agricultural Micronutrients Market by Application
10.2.6.2 France Agricultural Micronutrients Market
10.2.6.2.1 France Agricultural Micronutrients Market by Type
10.2.6.2.2 France Agricultural Micronutrients Market by Crop Type
10.2.6.2.3 France Agricultural Micronutrients Market by Application
10.2.6.3 Italy Agricultural Micronutrients Market
10.2.6.3.1 Italy Agricultural Micronutrients Market by Type
10.2.6.3.2 Italy Agricultural Micronutrients Market by Crop Type
10.2.6.3.3 Italy Agricultural Micronutrients Market by Application
10.2.6.4 United Kingdom Agricultural Micronutrients Market
10.2.6.4.1 United Kingdom Agricultural Micronutrients Market by Type
10.2.6.4.2 United Kingdom Agricultural Micronutrients Market by Crop Type
10.2.6.4.3 United Kingdom Agricultural Micronutrients Market by Application
10.2.6.5 Russia Agricultural Micronutrients Market
10.2.6.5.1 Russia Agricultural Micronutrients Market by Type
10.2.6.5.2 Russia Agricultural Micronutrients Market by Crop Type
10.2.6.5.3 Russia Agricultural Micronutrients Market by Application
10.2.6.6 Rest of Europe Agricultural Micronutrients Market
10.2.6.6.1 Rest of Europe Agricultural Micronutrients Market by Type
10.2.6.6.2 Rest of Europe Agricultural Micronutrients Market by Crop Type
10.2.6.6.3 Rest of Europe Agricultural Micronutrients Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Agricultural Micronutrients Market Overview
10.3.2 Asia-Pacific Agricultural Micronutrients Market Forecasts and Analysis
10.3.3 Asia-Pacific Agricultural Micronutrients Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Agricultural Micronutrients Market Forecasts and Analysis - By Crop Type
10.3.5 Asia-Pacific Agricultural Micronutrients Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Agricultural Micronutrients Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Agricultural Micronutrients Market
10.3.6.1.1 Australia Agricultural Micronutrients Market by Type
10.3.6.1.2 Australia Agricultural Micronutrients Market by Crop Type
10.3.6.1.3 Australia Agricultural Micronutrients Market by Application
10.3.6.2 China Agricultural Micronutrients Market
10.3.6.2.1 China Agricultural Micronutrients Market by Type
10.3.6.2.2 China Agricultural Micronutrients Market by Crop Type
10.3.6.2.3 China Agricultural Micronutrients Market by Application
10.3.6.3 India Agricultural Micronutrients Market
10.3.6.3.1 India Agricultural Micronutrients Market by Type
10.3.6.3.2 India Agricultural Micronutrients Market by Crop Type
10.3.6.3.3 India Agricultural Micronutrients Market by Application
10.3.6.4 Japan Agricultural Micronutrients Market
10.3.6.4.1 Japan Agricultural Micronutrients Market by Type
10.3.6.4.2 Japan Agricultural Micronutrients Market by Crop Type
10.3.6.4.3 Japan Agricultural Micronutrients Market by Application
10.3.6.5 South Korea Agricultural Micronutrients Market
10.3.6.5.1 South Korea Agricultural Micronutrients Market by Type
10.3.6.5.2 South Korea Agricultural Micronutrients Market by Crop Type
10.3.6.5.3 South Korea Agricultural Micronutrients Market by Application
10.3.6.6 Rest of Asia-Pacific Agricultural Micronutrients Market
10.3.6.6.1 Rest of Asia-Pacific Agricultural Micronutrients Market by Type
10.3.6.6.2 Rest of Asia-Pacific Agricultural Micronutrients Market by Crop Type
10.3.6.6.3 Rest of Asia-Pacific Agricultural Micronutrients Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Agricultural Micronutrients Market Overview
10.4.2 Middle East and Africa Agricultural Micronutrients Market Forecasts and Analysis
10.4.3 Middle East and Africa Agricultural Micronutrients Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Agricultural Micronutrients Market Forecasts and Analysis - By Crop Type
10.4.5 Middle East and Africa Agricultural Micronutrients Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Agricultural Micronutrients Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Agricultural Micronutrients Market
10.4.6.1.1 South Africa Agricultural Micronutrients Market by Type
10.4.6.1.2 South Africa Agricultural Micronutrients Market by Crop Type
10.4.6.1.3 South Africa Agricultural Micronutrients Market by Application
10.4.6.2 Saudi Arabia Agricultural Micronutrients Market
10.4.6.2.1 Saudi Arabia Agricultural Micronutrients Market by Type
10.4.6.2.2 Saudi Arabia Agricultural Micronutrients Market by Crop Type
10.4.6.2.3 Saudi Arabia Agricultural Micronutrients Market by Application
10.4.6.3 U.A.E Agricultural Micronutrients Market
10.4.6.3.1 U.A.E Agricultural Micronutrients Market by Type
10.4.6.3.2 U.A.E Agricultural Micronutrients Market by Crop Type
10.4.6.3.3 U.A.E Agricultural Micronutrients Market by Application
10.4.6.4 Rest of Middle East and Africa Agricultural Micronutrients Market
10.4.6.4.1 Rest of Middle East and Africa Agricultural Micronutrients Market by Type
10.4.6.4.2 Rest of Middle East and Africa Agricultural Micronutrients Market by Crop Type
10.4.6.4.3 Rest of Middle East and Africa Agricultural Micronutrients Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Agricultural Micronutrients Market Overview
10.5.2 South and Central America Agricultural Micronutrients Market Forecasts and Analysis
10.5.3 South and Central America Agricultural Micronutrients Market Forecasts and Analysis - By Type
10.5.4 South and Central America Agricultural Micronutrients Market Forecasts and Analysis - By Crop Type
10.5.5 South and Central America Agricultural Micronutrients Market Forecasts and Analysis - By Application
10.5.6 South and Central America Agricultural Micronutrients Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Agricultural Micronutrients Market
10.5.6.1.1 Brazil Agricultural Micronutrients Market by Type
10.5.6.1.2 Brazil Agricultural Micronutrients Market by Crop Type
10.5.6.1.3 Brazil Agricultural Micronutrients Market by Application
10.5.6.2 Argentina Agricultural Micronutrients Market
10.5.6.2.1 Argentina Agricultural Micronutrients Market by Type
10.5.6.2.2 Argentina Agricultural Micronutrients Market by Crop Type
10.5.6.2.3 Argentina Agricultural Micronutrients Market by Application
10.5.6.3 Rest of South and Central America Agricultural Micronutrients Market
10.5.6.3.1 Rest of South and Central America Agricultural Micronutrients Market by Type
10.5.6.3.2 Rest of South and Central America Agricultural Micronutrients Market by Crop Type
10.5.6.3.3 Rest of South and Central America Agricultural Micronutrients 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. AGRICULTURAL MICRONUTRIENTS MARKET, KEY COMPANY PROFILES
12.1. BASF SE
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. COROMANDEL INTERNATIONAL 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. NUTRIEN LTD.
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. THE MOSAIC COMPANY
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. HAIFA GROUP
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. YARA INTERNATIONAL ASA
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. HELENA AGRI-ENTERPRISES LLC
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. VALAGRO S.P.A
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. SIGMA AGRISCIENCE, 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. ARIES AGRO LIMITED
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
12.11. NUFARM LIMITED
12.11.1. Key Facts
12.11.2. Business Description
12.11.3. Products and Services
12.11.4. Financial Overview
12.11.5. SWOT Analysis
12.11.6. Key Developments
12.12. AGROLIQUID
12.12.1. Key Facts
12.12.2. Business Description
12.12.3. Products and Services
12.12.4. Financial Overview
12.12.5. SWOT Analysis
12.12.6. Key Developments
12.13. AGRIUM
12.13.1. Key Facts
12.13.2. Business Description
12.13.3. Products and Services
12.13.4. Financial Overview
12.13.5. SWOT Analysis
12.13.6. Key Developments
12.14. AKZONOBEL
12.14.1. Key Facts
12.14.2. Business Description
12.14.3. Products and Services
12.14.4. Financial Overview
12.14.5. SWOT Analysis
12.14.6. Key Developments
12.15. DOW CHEMICAL
12.15.1. Key Facts
12.15.2. Business Description
12.15.3. Products and Services
12.15.4. Financial Overview
12.15.5. SWOT Analysis
12.15.6. Key Developments
12.16. ADAMA AGRICULTURAL SOLUTIONS LTD.
12.16.1. Key Facts
12.16.2. Business Description
12.16.3. Products and Services
12.16.4. Financial Overview
12.16.5. SWOT Analysis
12.16.6. Key Developments
12.17. AGRIUM INC.
12.17.1. Key Facts
12.17.2. Business Description
12.17.3. Products and Services
12.17.4. Financial Overview
12.17.5. SWOT Analysis
12.17.6. Key Developments
12.18. AKZO NOBEL N.V.
12.18.1. Key Facts
12.18.2. Business Description
12.18.3. Products and Services
12.18.4. Financial Overview
12.18.5. SWOT Analysis
12.18.6. Key Developments
12.19. AURIGA INDUSTRIES A/S
12.19.1. Key Facts
12.19.2. Business Description
12.19.3. Products and Services
12.19.4. Financial Overview
12.19.5. SWOT Analysis
12.19.6. Key Developments
12.20. BAYER CROP.
12.20.1. Key Facts
12.20.2. Business Description
12.20.3. Products and Services
12.20.4. Financial Overview
12.20.5. SWOT Analysis
12.20.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. BASF SE
2. Coromandel International Limited
3. Nutrien Ltd.
4. The Mosaic Company
5. Haifa Group
6. Yara International ASA
7. Helena Agri-Enterprises LLC
8. Valagro S.p.A
9. Sigma AgriScience, LLC
10. Aries Agro Limited
11. Nufarm Limited
12. AgroLiquid
13. Agrium
14. Akzonobel
15. Dow Chemical
16. ADAMA Agricultural Solutions Ltd.
17. Agrium Inc.
18. Akzo Nobel N.V.
19. Auriga Industries A/S
20.Bayer Crop.
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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