[Research Report] The global laser technology market size is estimated to grow from US$ 16.85 billion in 2022 to US$ 31.65 billion by 2030; it is expected to grow at a CAGR of 8.2% from 2022 to 2030.
Analyst Perspective:
The laser technology market size has witnessed significant growth in recent years. Factors, including the increasing demand for laser technology in the healthcare sector, are fueling the expansion of the global market. Moreover, the rising adoption of laser technology for laser-based material processing is expected to bring new laser technology market trends in the coming years.
Market Overview:
Laser technology has been widely adopted and successful across several industries, including manufacturing, automotive, chemical production and processing, and healthcare. The technology offers high adaptability, productivity, sustainability, and precision. In the healthcare sector, laser technology is extensively used for applications such as laser eye surgery and the development of new medical tools and prosthetics. These technological advantages are driving the growth of the laser technology market. For example, in January 2021, Lumentum Operations LLC a key player in the market completed the acquisition of Coherent, Inc. in a cash and stock transaction. This acquisition combines Lumentum's leading photonics businesses in telecom, datacom, and 3D sensing with Coherent's renowned laser and photonics enterprises, creating a unique photonics tech company with significantly expanded market reach.
The laser technology market is being driven by factors such as advancements in laser technologies. Advancements in photonic technology, along with the increasing adoption of various technologies emerging from laser-based applications such as AR/VR, VCSEL, and LiDAR, are driving the laser technology market growth. These advancements are fueling demand in various industry verticals such as healthcare, automotive, manufacturing, and others. Furthermore, photonics is playing an important role in the advancement of key areas of Industry 4.0. This includes the need for energy-efficient and low-power lasers in fiber-optic communications, which are foundational components of information technology.
Strategic Insights
Market Driver:
Increased Adoption of Laser Technology in the Manufacturing Sector to Drive Growth of the Laser Technology Market Share
The increased adoption of laser technology for material processing in the manufacturing sector is indeed a significant factor driving the market. Laser material processing technologies have gained huge importance in various industries owing to the growth of laser technology applications and the reduced cost of laser systems. This has led to increased adoption of laser technology in the manufacturing sector, where its advantages over traditional methods are particularly evident.
Furthermore, laser technology, especially in the form of laser cladding-based surface coating techniques, offers unique features and capabilities that are highly beneficial for material processing in manufacturing. These include the deposition of various coatings, repairing expensive components, low-volume manufacturing, and prototyping, all of which contribute to its increased adoption in the manufacturing sector. Such applications are anticipated to hold a promising future for the laser technology market forecast.
Segmentation and Scope:
The "Laser Technology Market " is segmented based on type, application, end user, and geography. Based on the type, the market is segmented by solid-state laser, co2 laser, fiber laser, and others. Based on the application, the market is segmented into laser processing, optical communications, and others. Based on the end user, the market is segmented into automotive, industrial, aerospace and defense, electronics and semiconductors, telecommunications, medical, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Segmental Analysis:
Based on application, the laser technology market analysis is segmented into automotive, industrial, aerospace and defense, electronics and semiconductor, telecommunications, medical, and others. In terms of revenue, the industrial segment dominates the laser technology market share. The rising trend of automation in industries has led to a growing demand for industrial lasers such as diode lasers, CO2 lasers, YAG lasers, and others. This demand is driven by their high efficiency, increased productivity, and precision, which are crucial factors in the business landscape. Furthermore, the rising transition to electric vehicles in the automotive industry has created several opportunities for industrial lasers players. For instance, in July 2021, Furukawa Electric, a Japan-based electric and electronics equipment company, introduced a fiber-based industrial laser. This laser produces high-quality beams with time stability, high reliability, and effectiveness, aligning with the evolving needs of the automotive industry and other sectors.
Regional Analysis:
The Asia Pacific laser technology market growth has gained prominence in the region for several reasons. The industry's expansion is expected to be driven by rising R&D expenditures and notable developments in the semiconductor and industrial sectors. Additionally, the regional laser technology market growth is anticipated to be propelled by an increase in demand for quick-turnaround laser machining operations from industrial, electronics, telecommunications, and automotive verticals. Furthermore, in September 2023, Laser Light Companies and Inligo Networks entered into a fifteen-year reciprocal master services agreement valued at US$ 175 million for optical service capacity across the Asia-Pacific region. As part of this agreement, Laser Light will procure optical transport capacity from Inligo on its terrestrial and subsea cables spanning Southeast Asia, Australasia, and the Pacific US. Thus, such initiatives are anticipated to propel the laser technology market.
Key Player Analysis:
The laser technology market analysis consists of players such as TRUMPF GmbH + Co. KG, Lumentum Holdings Inc., Han's Laser Technology Industry Group Co., Ltd., JENOPTIK AG, Novanta Inc., Coherent, Inc., LUMIBIRD, Gravotech Marking, Corning Incorporated, and Bystronic Laser AG are the key players profiled in the laser technology market report.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by the players in the laser technology market report. A few recent key laser technology market players' strategies are listed below:
- In January 2024, Jenoptik AG announced the launch of an innovative open heat sink diode laser package called 'LS' that is specifically designed for the optical pumping of advanced solid-state lasers. This new package offers a substantial increase in optical output power levels compared to the widely used CS package, which is the industry standard. The LS package from Jenoptik incorporates a double-side cooled open heat sink design, resulting in enhanced conductive cooling of the laser bar. This design improvement allows the LS to outperform the CS package, offering continuous wave (CW) output power levels exceeding 150 W at a wavelength of 9xx nm. Consequently, the LS package enables the use of advanced applications such as pump or direct-diode-laser (DDL) systems.
- In September 2023, Coherent Corp., a renowned provider of pump laser technology for erbium-doped fiber amplifiers (EDFAs) used in optical networks, introduced a groundbreaking pump laser module. This module, available in a 10-pin butterfly package, delivers an impressive 1200 mW of output power. The 1200 mW pump lasers from Coherent address the growing demand for higher power levels to effectively amplify the increasing number of channels supported by next-generation ultra-broadband optical transmission systems. Furthermore, these lasers meet the strict reliability standards set by advanced network infrastructures.
- In November 2022, Han's Laser introduced the HL-PS-355-30, a 30W ultraviolet picosecond laser that has been verified, approved for mass production, and listed on the market. This cost-effective industrial picosecond laser, developed based on the DRACO series picosecond laser platform, is designed to meet the market demand. It boasts excellent technical parameters and ultra-high-power stability. Furthermore, it has successfully undergone field testing by industry benchmark customers, fulfilling the general requirements of most markets and offering the flexibility to customize technical parameters to meet specific customer needs.
- In February 2022, TRUMPF GmbH + Co. KG acquired an eighty-percent stake in Active Fiber Systems GmbH (AFS), a Jena, Germany-based company specializing in fiber lasers. AFS is known for its development and manufacture of ultrashort-pulse laser systems and fiber-laser systems primarily used in science and research. These systems find applications in various fields, including biomedical imaging and material processing. Being the primary shareholder in AFS, Trumpf intends to leverage synergies in research and the ongoing advancement of its current ultrashort-pulse laser portfolio to drive expansion in this burgeoning sector. This strategic acquisition aligns with Trumpf's commitment to advancing its laser technology offerings, which include laser systems for cutting, welding, surface treatment of three-dimensional components, high-performance lasers, disk and fiber lasers, direct diode lasers, ultrashort pulse lasers, and marking lasers and systems. The addition of AFS to the Trumpf Group further strengthens its position in the laser technology market, enhancing its capabilities to deliver innovative solutions to meet the evolving demands of several industry verticals.
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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
- 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
Type, Application, End User, and Geography
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 Laser Technology Market - By Type
1.3.2 Laser Technology Market - By Application
1.3.3 Laser Technology Market - By End User
1.3.4 Laser Technology Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. LASER TECHNOLOGY 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. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. LASER TECHNOLOGY 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. LASER TECHNOLOGY MARKET - GLOBAL MARKET ANALYSIS
6.1. LASER TECHNOLOGY - GLOBAL MARKET OVERVIEW
6.2. LASER TECHNOLOGY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. LASER TECHNOLOGY MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. SOLID-STATE LASER
7.3.1. Overview
7.3.2. Solid-state Laser Market Forecast and Analysis
7.4. CO2 LASER
7.4.1. Overview
7.4.2. CO2 Laser Market Forecast and Analysis
7.5. FIBER LASER
7.5.1. Overview
7.5.2. Fiber Laser Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. LASER TECHNOLOGY MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. LASER PROCESSING
8.3.1. Overview
8.3.2. Laser Processing Market Forecast and Analysis
8.4. OPTICAL COMMUNICATIONS
8.4.1. Overview
8.4.2. Optical Communications Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. LASER TECHNOLOGY MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER 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. AEROSPACE AND DEFENSE
9.5.1. Overview
9.5.2. Aerospace and Defense Market Forecast and Analysis
9.6. ELECTRONICS AND SEMICONDUCTOR
9.6.1. Overview
9.6.2. Electronics and Semiconductor Market Forecast and Analysis
9.7. TELECOMMUNICATIONS
9.7.1. Overview
9.7.2. Telecommunications Market Forecast and Analysis
9.8. MEDICAL
9.8.1. Overview
9.8.2. Medical Market Forecast and Analysis
9.9. OTHERS
9.9.1. Overview
9.9.2. Others Market Forecast and Analysis
10. LASER TECHNOLOGY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Laser Technology Market Overview
10.1.2 North America Laser Technology Market Forecasts and Analysis
10.1.3 North America Laser Technology Market Forecasts and Analysis - By Type
10.1.4 North America Laser Technology Market Forecasts and Analysis - By Application
10.1.5 North America Laser Technology Market Forecasts and Analysis - By End User
10.1.6 North America Laser Technology Market Forecasts and Analysis - By Countries
10.1.6.1 United States Laser Technology Market
10.1.6.1.1 United States Laser Technology Market by Type
10.1.6.1.2 United States Laser Technology Market by Application
10.1.6.1.3 United States Laser Technology Market by End User
10.1.6.2 Canada Laser Technology Market
10.1.6.2.1 Canada Laser Technology Market by Type
10.1.6.2.2 Canada Laser Technology Market by Application
10.1.6.2.3 Canada Laser Technology Market by End User
10.1.6.3 Mexico Laser Technology Market
10.1.6.3.1 Mexico Laser Technology Market by Type
10.1.6.3.2 Mexico Laser Technology Market by Application
10.1.6.3.3 Mexico Laser Technology Market by End User
10.2. EUROPE
10.2.1 Europe Laser Technology Market Overview
10.2.2 Europe Laser Technology Market Forecasts and Analysis
10.2.3 Europe Laser Technology Market Forecasts and Analysis - By Type
10.2.4 Europe Laser Technology Market Forecasts and Analysis - By Application
10.2.5 Europe Laser Technology Market Forecasts and Analysis - By End User
10.2.6 Europe Laser Technology Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Laser Technology Market
10.2.6.1.1 Germany Laser Technology Market by Type
10.2.6.1.2 Germany Laser Technology Market by Application
10.2.6.1.3 Germany Laser Technology Market by End User
10.2.6.2 France Laser Technology Market
10.2.6.2.1 France Laser Technology Market by Type
10.2.6.2.2 France Laser Technology Market by Application
10.2.6.2.3 France Laser Technology Market by End User
10.2.6.3 Italy Laser Technology Market
10.2.6.3.1 Italy Laser Technology Market by Type
10.2.6.3.2 Italy Laser Technology Market by Application
10.2.6.3.3 Italy Laser Technology Market by End User
10.2.6.4 United Kingdom Laser Technology Market
10.2.6.4.1 United Kingdom Laser Technology Market by Type
10.2.6.4.2 United Kingdom Laser Technology Market by Application
10.2.6.4.3 United Kingdom Laser Technology Market by End User
10.2.6.5 Russia Laser Technology Market
10.2.6.5.1 Russia Laser Technology Market by Type
10.2.6.5.2 Russia Laser Technology Market by Application
10.2.6.5.3 Russia Laser Technology Market by End User
10.2.6.6 Rest of Europe Laser Technology Market
10.2.6.6.1 Rest of Europe Laser Technology Market by Type
10.2.6.6.2 Rest of Europe Laser Technology Market by Application
10.2.6.6.3 Rest of Europe Laser Technology Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Laser Technology Market Overview
10.3.2 Asia-Pacific Laser Technology Market Forecasts and Analysis
10.3.3 Asia-Pacific Laser Technology Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Laser Technology Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Laser Technology Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Laser Technology Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Laser Technology Market
10.3.6.1.1 Australia Laser Technology Market by Type
10.3.6.1.2 Australia Laser Technology Market by Application
10.3.6.1.3 Australia Laser Technology Market by End User
10.3.6.2 China Laser Technology Market
10.3.6.2.1 China Laser Technology Market by Type
10.3.6.2.2 China Laser Technology Market by Application
10.3.6.2.3 China Laser Technology Market by End User
10.3.6.3 India Laser Technology Market
10.3.6.3.1 India Laser Technology Market by Type
10.3.6.3.2 India Laser Technology Market by Application
10.3.6.3.3 India Laser Technology Market by End User
10.3.6.4 Japan Laser Technology Market
10.3.6.4.1 Japan Laser Technology Market by Type
10.3.6.4.2 Japan Laser Technology Market by Application
10.3.6.4.3 Japan Laser Technology Market by End User
10.3.6.5 South Korea Laser Technology Market
10.3.6.5.1 South Korea Laser Technology Market by Type
10.3.6.5.2 South Korea Laser Technology Market by Application
10.3.6.5.3 South Korea Laser Technology Market by End User
10.3.6.6 Rest of Asia-Pacific Laser Technology Market
10.3.6.6.1 Rest of Asia-Pacific Laser Technology Market by Type
10.3.6.6.2 Rest of Asia-Pacific Laser Technology Market by Application
10.3.6.6.3 Rest of Asia-Pacific Laser Technology Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Laser Technology Market Overview
10.4.2 Middle East and Africa Laser Technology Market Forecasts and Analysis
10.4.3 Middle East and Africa Laser Technology Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Laser Technology Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Laser Technology Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Laser Technology Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Laser Technology Market
10.4.6.1.1 South Africa Laser Technology Market by Type
10.4.6.1.2 South Africa Laser Technology Market by Application
10.4.6.1.3 South Africa Laser Technology Market by End User
10.4.6.2 Saudi Arabia Laser Technology Market
10.4.6.2.1 Saudi Arabia Laser Technology Market by Type
10.4.6.2.2 Saudi Arabia Laser Technology Market by Application
10.4.6.2.3 Saudi Arabia Laser Technology Market by End User
10.4.6.3 U.A.E Laser Technology Market
10.4.6.3.1 U.A.E Laser Technology Market by Type
10.4.6.3.2 U.A.E Laser Technology Market by Application
10.4.6.3.3 U.A.E Laser Technology Market by End User
10.4.6.4 Rest of Middle East and Africa Laser Technology Market
10.4.6.4.1 Rest of Middle East and Africa Laser Technology Market by Type
10.4.6.4.2 Rest of Middle East and Africa Laser Technology Market by Application
10.4.6.4.3 Rest of Middle East and Africa Laser Technology Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Laser Technology Market Overview
10.5.2 South and Central America Laser Technology Market Forecasts and Analysis
10.5.3 South and Central America Laser Technology Market Forecasts and Analysis - By Type
10.5.4 South and Central America Laser Technology Market Forecasts and Analysis - By Application
10.5.5 South and Central America Laser Technology Market Forecasts and Analysis - By End User
10.5.6 South and Central America Laser Technology Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Laser Technology Market
10.5.6.1.1 Brazil Laser Technology Market by Type
10.5.6.1.2 Brazil Laser Technology Market by Application
10.5.6.1.3 Brazil Laser Technology Market by End User
10.5.6.2 Argentina Laser Technology Market
10.5.6.2.1 Argentina Laser Technology Market by Type
10.5.6.2.2 Argentina Laser Technology Market by Application
10.5.6.2.3 Argentina Laser Technology Market by End User
10.5.6.3 Rest of South and Central America Laser Technology Market
10.5.6.3.1 Rest of South and Central America Laser Technology Market by Type
10.5.6.3.2 Rest of South and Central America Laser Technology Market by Application
10.5.6.3.3 Rest of South and Central America Laser Technology Market by End User
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. LASER TECHNOLOGY MARKET, KEY COMPANY PROFILES
12.1. COHERENT, 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. EPILOG CORPORATION
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. EUROLASER GMBH
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. HAN’S LASER TECHNOLOGY INDUSTRY GROUP CO., LTD
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. IPG PHOTONICS CORPORATION
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. JENOPTIK AG
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. LUMENTUM HOLDINGS INC
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. MKS INSTRUMENTS, 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. NOVANTA INC.
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. THE LUMIBIRD GROUP
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.Coherent, Inc.
2.Epilog Corporation
3.eurolaser GmbH
4.Han's Laser Technology Industry Group Co., Ltd
5.IPG Photonics Corporation
6.Jenoptik AG
7.Lumentum Holdings Inc
8.MKS Instruments, Inc.
9.Novanta Inc.
10.THE LUMIBIRD GROUP
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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Apr 2024
Drone Lithium Battery Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis By Battery Type (Li-ion, Li-Po, and Li-S), Battery Capacity (Below 3,000 mAh; 3,000–5,000 mAh; and Above 5,000 mAh), Drone MTOW (Below 100 Kgs, 100–200 Kgs, and Above 200 Kgs), Wing Type (Fixed Wing and Rotary Wing), and End Use (Military and Commercial)
Apr 2024
ASRS for Garments on Hangers Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis By Type (Garment Rail System, Garment Conveyor, Garment Property Storage, and Others) and Application (Warehousing and Logistics, Retail 3PL, Hotels, Hospitals and Institutes, and Others)
Apr 2024
Analog to Digital Converter Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Integrating Analog to Digital Converters, Delta-Sigma Analog to Digital Converters, Successive Approximation Analog to Digital Converters, Ramp Analog to Digital Converters, and Others), Resolution (8-Bit, 10-Bit, 12-Bit, 14-Bit, 16-Bit, and Others), and Application (Industrial, Consumer Electronics, Automotive, Healthcare, Telecommunication, and Others)
Apr 2024
Laser Distance Sensor Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Distance (Between 2 and 10 Meters, Between 11 and 100 Meters, Between 101 and 200 Meters, and Between 201 and 500 Meters), Accuracy (1 mm at 2 Sigma, 3 mm with 2 Sigma, and 5 mm at 2 Sigma), and End User (Manufacturing, Construction, Automotive and Robotics, Aerospace and Defense, Geospatial Industry, and Others)
Apr 2024
Rugged Tablet Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis By Type (Fully Rugged Tablet, Semi Rugged Tablet, and Ultra Rugged Tablet); Operating System (Android, Windows, and iOS); and Application (Aerospace & Defense, Automotive, Construction, Energy & Utilities, Manufacturing, Oil & Gas, and Others)
Apr 2024
Rear Door Heat Exchanger Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Active and Passive) and End User (Data Center, IT and Telecommunication, Semiconductor, Education, Government, and Others)