Asia Pacific Maritime Real-time Positioning System Market Growth and Recent Trends by 2027
Asia Pacific Maritime Real-time Positioning System Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Component (Hardware, Software, and Services), Technology (RFID, GPS, and Others), Application (Fleet Management, Inventory and Asset Management, and Crew Tracking), and Vessel Type (Fishing Vessels, Cargo Vessels, Service Vessels, Passenger Ships and Ferries, and Others)
- Report Date : Nov 2020
- Report Code : TIPRE00016268
- Category : Electronics and Semiconductor
- Status : Published
- Available Report Formats :
- No. of Pages : 140
The APAC maritime real-time positioning system market is expected to grow from US$ 35.19 million in 2019 to US$ 371.22 million by 2027; it is estimated to grow at a CAGR of 34.7 % from 2020 to 2027.
The Australia, China, India, Japan, and South Korea are major economies in APAC. Advent of advanced technologies is expected to accelerate the APAC maritime real-time positioning system market. The advent of the newer and advanced technologies in the maritime industry is creating new growth avenues for the APAC market. Some of upcoming developments include digital twins that create a twin of the vessel and help in simulating all the performance indications, integration of other data sources including AIS, weather, cargo data, etc. Similarly, the development of e-navigation and route planning is expected to influence many of the aspects of the industry covering emission efficiency and autonomous shipping. Lastly, next-generation voyage management systems are projected to develop new growth avenues in the industry. Some of the feature of these systems include provide voyage estimates, integrated system for mails, fully hosted cloud solutions etc. So the development of advanced technologies is expected to drive the APAC maritime real-time positioning system market.
Furthermore, in case of COVID-19, APAC region is highly affected specially the China and India. The APAC region is characterized by the presence of many developing countries with growing industrial sector and rising population. The growing urbanization and industrialization level in the APAC region makes it a promising market for the growth of maritime trade. Moreover. China is a major consumer and producer for many key industries including automotive, electronics & semiconductor, commodities, and agricultural products. The interruptions in movement, flow and storage of goods due to COVID-19 outbreak have affected the overall logistics and transportation industry growth in this region which has also affected the APAC maritime real-time positioning system market growth. Disruption in supply chain has reduced the number of fishing vessels during the pandemic situation, which will negatively impact the installation of the positioning systems in existing fishing vessels hence affecting the APAC maritime real-time positioning system market growth. Also, temporary shutdown of manufacturing units has decreased the procurement of fishing, cargo, and other vessels which has affected the APAC maritime real-time positioning system market negatively.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC maritime real-time positioning system market. The APAC maritime real-time positioning system market is expected to grow at a good CAGR during the forecast period.
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APAC Maritime Real-time Positioning System Market Segmentation
APAC Maritime Real-time Positioning System Market – By Component
- Hardware
- Readers and Trackers
- Tags/Badges
- Others
- Software
- Services
APAC Maritime Real-time Positioning System Market – By Technology
- RFID
- GPS
- Others
APAC Maritime Real-time Positioning System Market – By Application
- Fleet Management
- Inventory and Asset Management
- Crew Tracking
APAC Maritime Real-time Positioning System Market – ByVessel Type
- Fishing Vessels
- Cargo Vessels
- Service Vessels
- Passenger Ships and Ferries
- Others
APAC Maritime Real-time Positioning System Market, by Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Maritime Real-time Positioning System Market -Companies Mentioned
- Envision Enterprise Solutions America Inc.
- Intrasys (Pte.) Ltd.
- Martek Marine
- ORBCOMM Inc.
- VECTOR INFOTECH PTE LTD.
- Zebra Technologies Corporation
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Technology, Application, and Vessel Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Maritime Real-time Positioning System Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Expert Opinion
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat to New Entrants
4.4.4 Threat to Substitutes
4.4.5 Competitive Rivalry
5. APAC Maritime Real-time Positioning System Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Escalation in Use of RFID in Shipping Industry
5.1.2 Growth in the Number of Cargo Vessels
5.2 Market Restraint
5.2.1 Inadequacy of Skilled Workforce and Technical Challenges
5.3 Market Opportunity
5.3.1 Soaring Growth Potential
5.4 Market Trend
5.4.1 Advent of Advanced Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Maritime Real-time Positioning System Market– APAC Analysis
6.1 APAC Maritime Real- time Positioning System Market Overview
6.2 APAC Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Market Players Ranking
7. APAC Maritime Real-time Positioning System Market Analysis – By Component
7.1 Overview
7.2 APAC Maritime Real-time Positioning System Market, By Component (2019 and 2027)
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
7.3.2.1 Readers and Trackers
7.3.2.1.1 Readers and Trackers: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
7.3.2.2 Tags/Badges
7.3.2.2.1 Tags/Badges: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
7.3.2.3 Others
7.3.2.3.1 Others: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Software
7.4.1 Overview
7.4.2 Software: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Services
7.5.1 Overview
7.5.2 Services: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
8. APAC Maritime Real-time Positioning System Market – By Application
8.1 Overview
8.2 APAC Maritime Real-time Positioning System Market, by Application (2019 and 2027)
8.3 Fleet Management
8.3.1 Overview
8.3.2 Fleet Management: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Inventory and Asset Management
8.4.1 Overview
8.4.2 Inventory and Asset Management: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Crew Tracking
8.5.1 Overview
8.5.2 Crew Tracking: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
9. APAC Maritime Real-time Positioning System Market Analysis – By Technology
9.1 Overview
9.2 APAC Maritime Real-time Positioning System Market, By Technology (2019 and 2027)
9.3 RFID
9.3.1 Overview
9.3.2 RFID: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
9.4 GPS
9.4.1 Overview
9.4.2 GPS: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
9.5 Others
9.5.1 Overview
9.5.2 Others: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
10. APAC Maritime Real-time Positioning System Market Analysis – By Vessel Type
10.1 Overview
10.2 APAC Maritime Real-time Positioning System Market, By Vessel Type (2019 and 2027)
10.3 Fishing Vessels
10.3.1 Overview
10.3.2 Fishing Vessels: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
10.4 Cargo Vessels
10.4.1 Overview
10.4.1.1 Cargo Vessels: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
10.5 Service Vessels
10.5.1 Overview
10.5.2 Service Vessels: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
10.6 Passenger Ships and Ferries
10.6.1 Overview
10.6.2 Passenger Ships and Ferries: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
10.7 Others
10.7.1 Overview
10.7.2 Others: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
11. APAC Maritime Real-Time Positioning System Market – Country Analysis
11.1 Overview
11.1.1 APAC: Maritime Real-Time Positioning System Market, By Country
11.1.1.1 Australia: Maritime Real-Time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.1.1 Australia: Maritime Real-Time Positioning System Market, by Component
11.1.1.1.1.1 Australia: Maritime Real-Time Positioning System Market, By Hardware Type
11.1.1.1.2 Australia: Maritime Real-Time Positioning System Market, by Technology
11.1.1.1.3 Australia: Maritime Real-Time Positioning System Market, by Application
11.1.1.1.4 Australia: Maritime Real-Time Positioning System Market, by Vessel Type
11.1.1.2 China: Maritime Real-Time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.2.1 China: Maritime Real-Time Positioning System Market, by Component
11.1.1.2.1.1 China: Maritime Real-time Positioning System Market, By Hardware Type
11.1.1.2.2 China: Maritime Real-Time Positioning System Market, by Technology
11.1.1.2.3 China: Maritime Real-Time Positioning System Market, by Application
11.1.1.2.4 China: Maritime Real-Time Positioning System Market, by Vessel Type
11.1.1.3 India: Maritime Real-Time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.3.1 India: Maritime Real-Time Positioning System Market, by Component
11.1.1.3.1.1 India: Maritime Real-time Positioning System Market, By Hardware Type
11.1.1.3.2 India: Maritime Real-Time Positioning System Market, by Technology
11.1.1.3.3 India: Maritime Real-Time Positioning System Market, by Application
11.1.1.3.4 India: Maritime Real-Time Positioning System Market, by Vessel Type
11.1.1.4 Japan: Maritime Real-Time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.4.1 Japan: Maritime Real-Time Positioning System Market, by Component
11.1.1.4.1.1 Japan: Maritime Real-time Positioning System Market, By Hardware Type
11.1.1.4.2 Japan: Maritime Real-Time Positioning System Market, by Technology
11.1.1.4.3 Japan: Maritime Real-Time Positioning System Market, by Application
11.1.1.4.4 Japan: Maritime Real-Time Positioning System Market, by Vessel Type
11.1.1.5 South Korea: Maritime Real-Time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.5.1 South Korea: Maritime Real-Time Positioning System Market, by Component
11.1.1.5.1.1 South Korea: Maritime Real-time Positioning System Market, By Hardware Type
11.1.1.5.2 South Korea: Maritime Real-Time Positioning System Market, by Technology
11.1.1.5.3 South Korea: Maritime Real-Time Positioning System Market, by Application
11.1.1.5.4 South Korea: Maritime Real-Time Positioning System Market, by Vessel Type
11.1.1.6 Rest of APAC: Maritime Real-Time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.6.1 Rest of APAC: Maritime Real-Time Positioning System Market, by Component
11.1.1.6.1.1 Rest of APAC: Maritime Real-time Positioning System Market, By Hardware Type
11.1.1.6.2 Rest of APAC: Maritime Real-Time Positioning System Market, by Technology
11.1.1.6.3 Rest of APAC: Maritime Real-Time Positioning System Market, by Application
11.1.1.6.4 Rest of APAC: Maritime Real-Time Positioning System Market, by Vessel Type
12. Impact of COVID-19 Outbreak
12.1 APAC: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Merger and Acquisition
14. Company Profiles
14.1 Envision Enterprise Solutions America Inc
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 Intrasys (Pte.) Ltd.
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 Martek Marine
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 ORBCOMM Inc.
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 VECTOR INFOTECH PTE LTD.
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 Zebra Technologies Corporation
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
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. APAC Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. Australia: Maritime Real-Time Positioning System Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 3. Australia: Maritime Real-Time Positioning System Market, By Hardware Type – Revenue and Forecast to 2027 (US$ Million)
Table 4. Australia: Maritime Real-Time Positioning System Market, By Technology – Revenue and Forecast to 2027 (US$ Million)
Table 5. Australia: Maritime Real-Time Positioning System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 6. Australia: Maritime Real-Time Positioning System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. China: Maritime Real-Time Positioning System Market, By Components – Revenue and Forecast to 2027 (US$ Million)
Table 8. China: Maritime Real-Time Positioning System Market, By Hardware Type – Revenue and Forecast to 2027 (US$ Million)
Table 9. China: Maritime Real-Time Positioning System Market, By Technology – Revenue and Forecast to 2027 (US$ Million)
Table 10. China: Maritime Real-Time Positioning System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 11. China: Maritime Real-Time Positioning System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 12. India: Maritime Real-Time Positioning System Market, By Components – Revenue and Forecast to 2027 (US$ Million)
Table 13. India: Maritime Real-Time Positioning System Market, By Hardware Type – Revenue and Forecast to 2027 (US$ Million)
Table 14. India: Maritime Real-Time Positioning System Market, By Technology – Revenue and Forecast to 2027 (US$ Million)
Table 15. India: Maritime Real-Time Positioning System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 16. India: Maritime Real-Time Positioning System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 17. Japan: Maritime Real-Time Positioning System Market, By Components – Revenue and Forecast to 2027 (US$ Million)
Table 18. Japan: Maritime Real-Time Positioning System Market, By Hardware Type – Revenue and Forecast to 2027 (US$ Million)
Table 19. Japan: Maritime Real-Time Positioning System Market, By Technology – Revenue and Forecast to 2027 (US$ Million)
Table 20. Japan: Maritime Real-Time Positioning System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 21. Japan: Maritime Real-Time Positioning System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 22. South Korea: Maritime Real-Time Positioning System Market, By Component– Revenue and Forecast to 2027 (US$ Million)
Table 23. South Korea: Maritime Real-Time Positioning System Market, By Hardware Type – Revenue and Forecast to 2027 (US$ Million)
Table 24. South Korea: Maritime Real-Time Positioning System Market, By Technology – Revenue and Forecast to 2027 (US$ Million)
Table 25. South Korea: Maritime Real-Time Positioning System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 26. South Korea: Maritime Real-Time Positioning System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 27. Rest of APAC: Maritime Real-Time Positioning System Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 28. Rest of APAC: Maritime Real-Time Positioning System Market, By Hardware Type – Revenue and Forecast to 2027 (US$ Million)
Table 29. Rest of APAC: Maritime Real-Time Positioning System Market, By Technology – Revenue and Forecast to 2027 (US$ Million)
Table 30. Rest of APAC: Maritime Real-Time Positioning System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 31. Rest of APAC: Maritime Real-Time Positioning System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 32. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Maritime Real-time Positioning System Market Segmentation
Figure 2. APAC Maritime Real-time Positioning System Market Segmentation – By Country
Figure 3. APAC Maritime Real-time Positioning System Market Overview
Figure 4. APAC Maritime Real-time Positioning System Market, by Country
Figure 5. APAC Maritime Real-time Positioning System Market, By Vessel Type
Figure 6. APAC Maritime Real-time Positioning System Market, By Application
Figure 7. APAC Maritime Real-time Positioning System Market, By Technology
Figure 8. APAC Maritime Real-time Positioning System Market, By Component
Figure 9. APAC: PEST Analysis
Figure 10. Expert Opinion
Figure 11. Porter’s Five Forces Analysis
Figure 12. APAC Maritime Real-time Positioning System Market Impact Analysis of Drivers and Restraint
Figure 13. APAC Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. APAC Maritime Real-time Positioning System Market Revenue Share, by Component (2019 and 2027)
Figure 15. APAC Hardware: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. APAC Readers and Trackers: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. APAC Tags/Badges: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. APAC Others: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. APAC Software: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. APAC Services: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. APAC Maritime Real-time Positioning System Market Revenue Share, by Application (2019 and 2027)
Figure 22. APAC Fleet Management: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. APAC Inventory and Asset Management: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. APAC Crew Tracking: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. APAC Maritime Real-time Positioning System Market Revenue Share, by Technology (2019 and 2027)
Figure 26. APAC RFID: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. APAC GPS: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. APAC Others: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. APAC Maritime Real-time Positioning System Market Revenue Share, by Vessel Type (2019 and 2027)
Figure 30. APAC Fishing Vessels: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. APAC Cargo Vessels: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027(US$ Million)
Figure 32. APAC Service Vessels: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027(US$ Million)
Figure 33. APAC Passenger Ships and Ferries: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 34. APAC Others: Maritime Real-time Positioning System Market – Revenue and Forecast to 2027(US$ Million)
Figure 35. APAC: Maritime Real-Time Positioning System Market Revenue Share, By Country (2019 and 2027)
Figure 36. Australia: Maritime Real-Time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 37. China: Maritime Real-Time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 38. India: Maritime Real-Time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 39. Japan: Maritime Real-Time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 40. South Korea: Maritime Real-Time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 41. Rest of APAC: Maritime Real-Time Positioning System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 42. Impact of COVID-19 Pandemic in APAC Country Markets
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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.
Nov 2020
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