MARKET INTRODUCTION Shejal Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Aromatherapy is an alternative medicine and involves use of natural or herbal oils extracted from flowers, wood, earth, fruits, roots or other parts of a plant to enhance psychological and physical well-being of a patient suffering from chronic disorder.
MARKET DYNAMICS
The aromatherapy market is driving due the increasing use aromatherapy in treating Alzheimer's disease, Parkinson's disease, heart disease, and cancer patients, and new product launches. However, risk factors associated with aromatherapy such as toxicity, skin sensitization, and photosensitivity, is expected to hamper the growth of the global aromatherapy market. Moreover, increasing inclination towards aromatherapy is anticipated to drive demand the growth of the market.
MARKET SCOPE
The "Aromatherapy Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of aromatherapy market with detailed market segmentation by product, application, mode of delivery, and distribution channel. The aromatherapy market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading players in aromatherapy market and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The aromatherapy market is segmented based on product, application, mode of delivery, and distribution channel. On the basis of product, the market is segmented into consumables, and equipment. Consumables are sub segmented into essential oils, blended oils, carrier oils. Equipment are sub segmented into nebulizing diffuser, ultrasonic diffuser, evaporative diffuser, and heat diffuser. Based on mode of delivery, the market is segmented into, topical application, direct inhalation, aerial diffusion. On the basis of application, the market is segmented into, insomnia, pain management, skin & hair care, cold & cough, others. On the basis of distribution channel, the market is segmented into online sales, direct sales, retail sales.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the aromatherapy market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The aromatherapy market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting aromatherapy market from both demand and supply side and further evaluates market dynamics affecting the market during forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social, and technological factors effecting the aromatherapy market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the aromatherapy market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The aromatherapy market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting aromatherapy market from both demand and supply side and further evaluates market dynamics affecting the market during forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social, and technological factors effecting the aromatherapy market in these regions.
MARKET PLAYERS
The report covers key developments in the aromatherapy market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from aromatherapy market are anticipated to have lucrative growth opportunities in the future with the rising demand for aromatherapy market in the global market. Below mentioned is the list of few companies engaged in the aromatherapy market.
The report also includes the profiles of key players in aromatherapy market along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- d?TERRA
- Young Living Essential Oils
- Mountain Rose Herbs
- Edens Garden
- Frontier Co-op
- Rocky Mountain Oils, LLC
- PLANT THERAPY ESSENTIAL OILS
- MONQ, LLC
- The Aromatherapy Company
- Aromatics International
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
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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 Aromatherapy Market - By Product
1.3.2 Aromatherapy Market - By Mode Of Delivery
1.3.3 Aromatherapy Market - By Application
1.3.4 Aromatherapy Market - By Distribution Channel
1.3.5 Aromatherapy Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AROMATHERAPY 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. AROMATHERAPY 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. AROMATHERAPY MARKET - GLOBAL MARKET ANALYSIS
6.1. AROMATHERAPY - GLOBAL MARKET OVERVIEW
6.2. AROMATHERAPY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AROMATHERAPY MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. CONSUMABLES
7.3.1. Overview
7.3.2. Consumables Market Forecast and Analysis
7.3.3. Essential Oils Market
7.3.3.1. Overview
7.3.3.2. Essential Oils Market Forecast and Analysis
7.3.4. Blended Oils Market
7.3.4.1. Overview
7.3.4.2. Blended Oils Market Forecast and Analysis
7.3.5. Carrier Oils Market
7.3.5.1. Overview
7.3.5.2. Carrier Oils Market Forecast and Analysis
7.4. EQUIPMENT
7.4.1. Overview
7.4.2. Equipment Market Forecast and Analysis
7.4.3. Nebulizing Diffuser Market
7.4.3.1. Overview
7.4.3.2. Nebulizing Diffuser Market Forecast and Analysis
7.4.4. Ultrasonic Diffuser Market
7.4.4.1. Overview
7.4.4.2. Ultrasonic Diffuser Market Forecast and Analysis
7.4.5. Evaporative Diffuser Market
7.4.5.1. Overview
7.4.5.2. Evaporative Diffuser Market Forecast and Analysis
7.4.6. Heat Diffuser Market
7.4.6.1. Overview
7.4.6.2. Heat Diffuser Market Forecast and Analysis
8. AROMATHERAPY MARKET - REVENUE AND FORECASTS TO 2028 - MODE OF DELIVERY
8.1. OVERVIEW
8.2. MODE OF DELIVERY MARKET FORECASTS AND ANALYSIS
8.3. TOPICAL APPLICATION
8.3.1. Overview
8.3.2. Topical Application Market Forecast and Analysis
8.4. DIRECT INHALATION
8.4.1. Overview
8.4.2. Direct Inhalation Market Forecast and Analysis
8.5. AERIAL DIFFUSION
8.5.1. Overview
8.5.2. Aerial Diffusion Market Forecast and Analysis
9. AROMATHERAPY MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. INSOMNIA
9.3.1. Overview
9.3.2. Insomnia Market Forecast and Analysis
9.4. PAIN MANAGEMENT
9.4.1. Overview
9.4.2. Pain Management Market Forecast and Analysis
9.5. SKIN AND HAIR CARE
9.5.1. Overview
9.5.2. Skin and Hair Care Market Forecast and Analysis
9.6. COLD AND COUGH
9.6.1. Overview
9.6.2. Cold and Cough Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. AROMATHERAPY MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
10.1. OVERVIEW
10.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
10.3. ONLINE SALES
10.3.1. Overview
10.3.2. Online Sales Market Forecast and Analysis
10.4. DIRECT SALES
10.4.1. Overview
10.4.2. Direct Sales Market Forecast and Analysis
10.5. RETAIL SALES
10.5.1. Overview
10.5.2. Retail Sales Market Forecast and Analysis
11. AROMATHERAPY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Aromatherapy Market Overview
11.1.2 North America Aromatherapy Market Forecasts and Analysis
11.1.3 North America Aromatherapy Market Forecasts and Analysis - By Product
11.1.4 North America Aromatherapy Market Forecasts and Analysis - By Mode Of Delivery
11.1.5 North America Aromatherapy Market Forecasts and Analysis - By Application
11.1.6 North America Aromatherapy Market Forecasts and Analysis - By Distribution Channel
11.1.7 North America Aromatherapy Market Forecasts and Analysis - By Countries
11.1.7.1 United States Aromatherapy Market
11.1.7.1.1 United States Aromatherapy Market by Product
11.1.7.1.2 United States Aromatherapy Market by Mode Of Delivery
11.1.7.1.3 United States Aromatherapy Market by Application
11.1.7.1.4 United States Aromatherapy Market by Distribution Channel
11.1.7.2 Canada Aromatherapy Market
11.1.7.2.1 Canada Aromatherapy Market by Product
11.1.7.2.2 Canada Aromatherapy Market by Mode Of Delivery
11.1.7.2.3 Canada Aromatherapy Market by Application
11.1.7.2.4 Canada Aromatherapy Market by Distribution Channel
11.1.7.3 Mexico Aromatherapy Market
11.1.7.3.1 Mexico Aromatherapy Market by Product
11.1.7.3.2 Mexico Aromatherapy Market by Mode Of Delivery
11.1.7.3.3 Mexico Aromatherapy Market by Application
11.1.7.3.4 Mexico Aromatherapy Market by Distribution Channel
11.2. EUROPE
11.2.1 Europe Aromatherapy Market Overview
11.2.2 Europe Aromatherapy Market Forecasts and Analysis
11.2.3 Europe Aromatherapy Market Forecasts and Analysis - By Product
11.2.4 Europe Aromatherapy Market Forecasts and Analysis - By Mode Of Delivery
11.2.5 Europe Aromatherapy Market Forecasts and Analysis - By Application
11.2.6 Europe Aromatherapy Market Forecasts and Analysis - By Distribution Channel
11.2.7 Europe Aromatherapy Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Aromatherapy Market
11.2.7.1.1 Germany Aromatherapy Market by Product
11.2.7.1.2 Germany Aromatherapy Market by Mode Of Delivery
11.2.7.1.3 Germany Aromatherapy Market by Application
11.2.7.1.4 Germany Aromatherapy Market by Distribution Channel
11.2.7.2 France Aromatherapy Market
11.2.7.2.1 France Aromatherapy Market by Product
11.2.7.2.2 France Aromatherapy Market by Mode Of Delivery
11.2.7.2.3 France Aromatherapy Market by Application
11.2.7.2.4 France Aromatherapy Market by Distribution Channel
11.2.7.3 Italy Aromatherapy Market
11.2.7.3.1 Italy Aromatherapy Market by Product
11.2.7.3.2 Italy Aromatherapy Market by Mode Of Delivery
11.2.7.3.3 Italy Aromatherapy Market by Application
11.2.7.3.4 Italy Aromatherapy Market by Distribution Channel
11.2.7.4 Spain Aromatherapy Market
11.2.7.4.1 Spain Aromatherapy Market by Product
11.2.7.4.2 Spain Aromatherapy Market by Mode Of Delivery
11.2.7.4.3 Spain Aromatherapy Market by Application
11.2.7.4.4 Spain Aromatherapy Market by Distribution Channel
11.2.7.5 United Kingdom Aromatherapy Market
11.2.7.5.1 United Kingdom Aromatherapy Market by Product
11.2.7.5.2 United Kingdom Aromatherapy Market by Mode Of Delivery
11.2.7.5.3 United Kingdom Aromatherapy Market by Application
11.2.7.5.4 United Kingdom Aromatherapy Market by Distribution Channel
11.2.7.6 Rest of Europe Aromatherapy Market
11.2.7.6.1 Rest of Europe Aromatherapy Market by Product
11.2.7.6.2 Rest of Europe Aromatherapy Market by Mode Of Delivery
11.2.7.6.3 Rest of Europe Aromatherapy Market by Application
11.2.7.6.4 Rest of Europe Aromatherapy Market by Distribution Channel
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Aromatherapy Market Overview
11.3.2 Asia-Pacific Aromatherapy Market Forecasts and Analysis
11.3.3 Asia-Pacific Aromatherapy Market Forecasts and Analysis - By Product
11.3.4 Asia-Pacific Aromatherapy Market Forecasts and Analysis - By Mode Of Delivery
11.3.5 Asia-Pacific Aromatherapy Market Forecasts and Analysis - By Application
11.3.6 Asia-Pacific Aromatherapy Market Forecasts and Analysis - By Distribution Channel
11.3.7 Asia-Pacific Aromatherapy Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Aromatherapy Market
11.3.7.1.1 Australia Aromatherapy Market by Product
11.3.7.1.2 Australia Aromatherapy Market by Mode Of Delivery
11.3.7.1.3 Australia Aromatherapy Market by Application
11.3.7.1.4 Australia Aromatherapy Market by Distribution Channel
11.3.7.2 China Aromatherapy Market
11.3.7.2.1 China Aromatherapy Market by Product
11.3.7.2.2 China Aromatherapy Market by Mode Of Delivery
11.3.7.2.3 China Aromatherapy Market by Application
11.3.7.2.4 China Aromatherapy Market by Distribution Channel
11.3.7.3 India Aromatherapy Market
11.3.7.3.1 India Aromatherapy Market by Product
11.3.7.3.2 India Aromatherapy Market by Mode Of Delivery
11.3.7.3.3 India Aromatherapy Market by Application
11.3.7.3.4 India Aromatherapy Market by Distribution Channel
11.3.7.4 Japan Aromatherapy Market
11.3.7.4.1 Japan Aromatherapy Market by Product
11.3.7.4.2 Japan Aromatherapy Market by Mode Of Delivery
11.3.7.4.3 Japan Aromatherapy Market by Application
11.3.7.4.4 Japan Aromatherapy Market by Distribution Channel
11.3.7.5 South Korea Aromatherapy Market
11.3.7.5.1 South Korea Aromatherapy Market by Product
11.3.7.5.2 South Korea Aromatherapy Market by Mode Of Delivery
11.3.7.5.3 South Korea Aromatherapy Market by Application
11.3.7.5.4 South Korea Aromatherapy Market by Distribution Channel
11.3.7.6 Rest of Asia-Pacific Aromatherapy Market
11.3.7.6.1 Rest of Asia-Pacific Aromatherapy Market by Product
11.3.7.6.2 Rest of Asia-Pacific Aromatherapy Market by Mode Of Delivery
11.3.7.6.3 Rest of Asia-Pacific Aromatherapy Market by Application
11.3.7.6.4 Rest of Asia-Pacific Aromatherapy Market by Distribution Channel
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Aromatherapy Market Overview
11.4.2 Middle East and Africa Aromatherapy Market Forecasts and Analysis
11.4.3 Middle East and Africa Aromatherapy Market Forecasts and Analysis - By Product
11.4.4 Middle East and Africa Aromatherapy Market Forecasts and Analysis - By Mode Of Delivery
11.4.5 Middle East and Africa Aromatherapy Market Forecasts and Analysis - By Application
11.4.6 Middle East and Africa Aromatherapy Market Forecasts and Analysis - By Distribution Channel
11.4.7 Middle East and Africa Aromatherapy Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Aromatherapy Market
11.4.7.1.1 South Africa Aromatherapy Market by Product
11.4.7.1.2 South Africa Aromatherapy Market by Mode Of Delivery
11.4.7.1.3 South Africa Aromatherapy Market by Application
11.4.7.1.4 South Africa Aromatherapy Market by Distribution Channel
11.4.7.2 Saudi Arabia Aromatherapy Market
11.4.7.2.1 Saudi Arabia Aromatherapy Market by Product
11.4.7.2.2 Saudi Arabia Aromatherapy Market by Mode Of Delivery
11.4.7.2.3 Saudi Arabia Aromatherapy Market by Application
11.4.7.2.4 Saudi Arabia Aromatherapy Market by Distribution Channel
11.4.7.3 U.A.E Aromatherapy Market
11.4.7.3.1 U.A.E Aromatherapy Market by Product
11.4.7.3.2 U.A.E Aromatherapy Market by Mode Of Delivery
11.4.7.3.3 U.A.E Aromatherapy Market by Application
11.4.7.3.4 U.A.E Aromatherapy Market by Distribution Channel
11.4.7.4 Rest of Middle East and Africa Aromatherapy Market
11.4.7.4.1 Rest of Middle East and Africa Aromatherapy Market by Product
11.4.7.4.2 Rest of Middle East and Africa Aromatherapy Market by Mode Of Delivery
11.4.7.4.3 Rest of Middle East and Africa Aromatherapy Market by Application
11.4.7.4.4 Rest of Middle East and Africa Aromatherapy Market by Distribution Channel
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Aromatherapy Market Overview
11.5.2 South and Central America Aromatherapy Market Forecasts and Analysis
11.5.3 South and Central America Aromatherapy Market Forecasts and Analysis - By Product
11.5.4 South and Central America Aromatherapy Market Forecasts and Analysis - By Mode Of Delivery
11.5.5 South and Central America Aromatherapy Market Forecasts and Analysis - By Application
11.5.6 South and Central America Aromatherapy Market Forecasts and Analysis - By Distribution Channel
11.5.7 South and Central America Aromatherapy Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Aromatherapy Market
11.5.7.1.1 Brazil Aromatherapy Market by Product
11.5.7.1.2 Brazil Aromatherapy Market by Mode Of Delivery
11.5.7.1.3 Brazil Aromatherapy Market by Application
11.5.7.1.4 Brazil Aromatherapy Market by Distribution Channel
11.5.7.2 Argentina Aromatherapy Market
11.5.7.2.1 Argentina Aromatherapy Market by Product
11.5.7.2.2 Argentina Aromatherapy Market by Mode Of Delivery
11.5.7.2.3 Argentina Aromatherapy Market by Application
11.5.7.2.4 Argentina Aromatherapy Market by Distribution Channel
11.5.7.3 Rest of South and Central America Aromatherapy Market
11.5.7.3.1 Rest of South and Central America Aromatherapy Market by Product
11.5.7.3.2 Rest of South and Central America Aromatherapy Market by Mode Of Delivery
11.5.7.3.3 Rest of South and Central America Aromatherapy Market by Application
11.5.7.3.4 Rest of South and Central America Aromatherapy Market by Distribution Channel
12. IMPACT OF COVID-19 PANDEMIC ON GLOBAL AROMATHERAPY 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. AROMATHERAPY MARKET, KEY COMPANY PROFILES
14.1. D?TERRA
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. YOUNG LIVING ESSENTIAL OILS
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. MOUNTAIN ROSE HERBS
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. EDENS GARDEN
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. FRONTIER CO-OP
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. ROCKY MOUNTAIN OILS, LLC
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. PLANT THERAPY ESSENTIAL OILS
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. MONQ, LLC
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. THE AROMATHERAPY COMPANY
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. AROMATICS INTERNATIONAL
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
The List of Companies
1. d?TERRA
2. Young Living Essential Oils
3. Mountain Rose Herbs
4. Edens Garden
5. Frontier Co-op
6. Rocky Mountain Oils, LLC
7. PLANT THERAPY ESSENTIAL OILS
8. MONQ, LLC
9. The Aromatherapy Company
10. Aromatics International
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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