The Middle East & Africa servo motors and drives market size is expected to reach US$ 1,085.42 million by 2031 from US$ 840.54 million in 2024. The market is estimated to record a CAGR of 3.6% from 2024 to 2031.
Executive Summary and Middle East & Africa Servo Motors and Drives Market Analysis:The servo motors and drives market in the Middle East & Africa is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The growing industrial manufacturing sector in the Middle East drives the demand for servo motors and drives among industrial machines and equipment manufacturers. According to the World Economic Forum data of August 2023, the Gulf Cooperation Council (GCC) has increased the adoption of advanced and automated technologies, such as artificial intelligence, conveyor systems, and robotics, to boost the productivity and efficiency of the manufacturing sector. Bahrain's manufacturing sector increased by 4.9% in 2022, the UAE's manufacturing production boosted by 8.7%, and Saudi Arabia's manufacturing activity increased by 18.5% in December 2022 as compared to 2021. Moreover, increased adoption of the industry 4.0 concept and government support toward the adoption of automation solutions is propelling the market. For instance, BFG International collaborated with the Bahrain Economic Development Board (Bahrain EDB) and Bahrain's Labour Fund Tamkeen on a regional first-of-its-kind industry 4.0 initiative. These initiatives encourage the adoption and development of automated solutions in factories, which creates demand for servo motors and drives. In the manufacturing sector, servo motors and drives are employed in automated assembly lines, robotics, conveyors, and other machines to ensure that operations run smoothly and efficiently by reducing equipment downtime.
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Middle East & Africa Servo Motors and Drives Market: Strategic Insights
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Key segments that contributed to the derivation of the Middle East & Africa servo motors and drives market analysis are component, product type, brake technology, and industry.
- Based on component, the Middle East & Africa servo motors and drives market is segmented into controller modules, electronic amplifiers, sensors, encoders, and other. The controller modules segment held the largest share of the market in 2024.
- By product type, the Middle East & Africa servo motors and drives market is bifurcated into servo motor and servo drive. The servo motor segment held a larger share of the market in 2024.
- Based on brake technology, the Middle East & Africa servo motors and drives market is segmented into permanent magnet, spring, and others. The permanent magnet segment held the largest share of the market in 2024.
- Based on industry, the Middle East & Africa servo motors and drives market is segmented into automotive and transportation, semiconductor and consumer electronics, food processing industry, textile industry, and others. The automotive and transportation segment held the largest share of the market in 2024.
Servo motors and drives are used in industrial automation solutions to provide precise and dynamic control of the motion. They are most commonly used for handling and controlling tasks such as assembly line operations, packaging and labeling, sorting and inspection, process control, and others that need high levels of precision, torque, and speed control. These components are mainly used in applications that require precise motion control, such as CNC machines, conveyor systems, and robotic arms. The growing adoption and implementation of automation solutions among industries surge the adoption of servo motors and drives to control motion by enhanced product quality. These also support industries to ensure workers' safety in adverse environments by lowering process costs. Moreover, the rising adoption of automation solutions among industries such as robots, CNC machines, and conveyor systems is fueling the market. The robotics industry has grown significantly owing to the industrial shift to automation and the adoption of robots in factories. Industries are increasingly deploying robots to dangerous tasks perform dangerous and repetitive tasks that support factory workers to operate safely in hazardous environments. For instance, in 2023, Jenks and Cattell Engineering Limited invested ~US$ 2.53 million (£2 million) to introduce CNC machines for automating industrial processes. The investment in CNC technology supports Jenks and Cattell Engineering Limited to meet the growing need for high-performance servo motors and drives. Thus, the high demand for industrial automation solutions drives the servo motors and drives market.
Middle East & Africa Servo Motors and Drives Market Country InsightsBased on country, the Middle East & Africa servo motors and drives market comprises the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa. The UAE held the largest share in 2024.
The servo motors and drives market in the UAE is projected to expand in the near future owing to the expanding manufacturing sector. For instance, according to the Emirates NBD Bank PJSC report of October 2023, the value of manufacturing operations in the country reached US$ 81.68 billion by 2031 due to favorable government support for expanding the manufacturing sector. The Ministry of Industry and Advanced Technology (MoIAT) has planned a 10-year strategy (from 2021 to 2031) to upgrade and develop manufacturing sectors. As manufacturing industries adopt automation and smart manufacturing practices, the demand for high-performance servo motors and precision drives is anticipated to rise. These components are critical for enhancing efficiency, productivity, and precision in manufacturing processes.
Middle East & Africa Servo Motors and Drives Market Company ProfilesSome of the key players operating in the market include ABB Ltd, Delta Electronics Inc, Fanuc Corp, Mitsubishi Electric Corp, Fuji Electric Co Ltd, Nidec Corp, Rockwell Automation Inc, Schneider Electric SE, Siemens AG, and Yaskawa Electric Corp, among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.
Middle East & Africa Servo Motors and Drives Market Research Methodology:The following methodology has been followed for the collection and analysis of data presented in this report:
Secondary Research
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
- Company websites, annual reports, financial statements, broker analyses, and investor presentations.
- Industry trade journals and other relevant publications.
- Government documents, statistical databases, and market reports.
- News articles, press releases, and webcasts specific to companies operating in the market.
All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
Primary Research
The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis and gain valuable insights. These research interviews are designed to:
- Validate and refine findings from secondary research.
- Enhance the expertise and market understanding of the analysis team.
- Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects.
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
- Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
- External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise
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.
1. Introduction
1.1 Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Middle East & Africa Servo Motors and Drives Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 Raw Materials and Components Suppliers
4.2.2 Manufacturers
4.2.3 End Users
4.2.4 List of Vendors in the Value Chain
5. Middle East & Africa Servo Motors and Drives Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 High Demand for Industrial Automation Solutions
5.1.2 Surge in Product Development by Manufacturers
5.1.3 Rise in Demand from Automotive Industry
5.2 Market Restraints
5.2.1 Availability of Substitute Products
5.3 Market Opportunities
5.3.1 Development of AI-Power Servo Motors
5.4 Future Trends
5.4.1 Demand for Next-Generation Servo Drives
5.5 Impact of Drivers and Restraints:
6. Servo Motors and Drives Market - Middle East & Africa Analysis
6.1 Middle East & Africa Servo Motors and Drives Market Revenue (US$ Million), 2021-2031
6.2 Middle East & Africa Servo Motors and Drives Market Forecast Analysis
7. Middle East & Africa Servo Motors and Drives Market Analysis - by Component
7.1 Controller Modules
7.1.1 Overview
7.1.2 Controller Modules: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.2 Electronic Amplifiers
7.2.1 Overview
7.2.2 Electronic Amplifiers: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.3 Sensors
7.3.1 Overview
7.3.2 Sensors: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.4 Encoders
7.4.1 Overview
7.4.2 Encoders: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
8. Middle East & Africa Servo Motors and Drives Market Analysis - by Product Type
8.1 Servo Motor
8.1.1 Overview
8.1.2 Servo Motor: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.2 Servo Drive
8.2.1 Overview
8.2.2 Servo Drive: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
9. Middle East & Africa Servo Motors and Drives Market Analysis - by Brake Technology
9.1 Permanent Magnet
9.1.1 Overview
9.1.2 Permanent Magnet: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.2 Spring
9.2.1 Overview
9.2.2 Spring: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.3 Others
9.3.1 Overview
9.3.2 Others: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
10. Middle East & Africa Servo Motors and Drives Market Analysis - by Industry
10.1 Automotive and Transportation
10.1.1 Overview
10.1.2 Automotive and Transportation: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
10.2 Semiconductor and Consumer Electronics
10.2.1 Overview
10.2.2 Semiconductor and Consumer Electronics: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
10.3 Food Processing Industry
10.3.1 Overview
10.3.2 Food Processing Industry: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
10.4 Textile Industry
10.4.1 Overview
10.4.2 Textile Industry: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
10.5 Others
10.5.1 Overview
10.5.2 Others: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
11. Middle East & Africa Servo Motors and Drives Market - Country Analysis
11.1 Middle East & Africa
11.1.1 Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast Analysis - by Country
11.1.1.1 Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast Analysis - by Country
11.1.1.2 United Arab Emirates: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
11.1.1.2.1 United Arab Emirates: Middle East & Africa Servo Motors and Drives Market Share - by Component
11.1.1.2.2 United Arab Emirates: Middle East & Africa Servo Motors and Drives Market Share - by Product Type
11.1.1.2.3 United Arab Emirates: Middle East & Africa Servo Motors and Drives Market Share - by Brake Technology
11.1.1.2.4 United Arab Emirates: Middle East & Africa Servo Motors and Drives Market Share - by Industry
11.1.1.3 Saudi Arabia: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
11.1.1.3.1 Saudi Arabia: Middle East & Africa Servo Motors and Drives Market Share - by Component
11.1.1.3.2 Saudi Arabia: Middle East & Africa Servo Motors and Drives Market Share - by Product Type
11.1.1.3.3 Saudi Arabia: Middle East & Africa Servo Motors and Drives Market Share - by Brake Technology
11.1.1.3.4 Saudi Arabia: Middle East & Africa Servo Motors and Drives Market Share - by Industry
11.1.1.4 South Africa: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
11.1.1.4.1 South Africa: Middle East & Africa Servo Motors and Drives Market Share - by Component
11.1.1.4.2 South Africa: Middle East & Africa Servo Motors and Drives Market Share - by Product Type
11.1.1.4.3 South Africa: Middle East & Africa Servo Motors and Drives Market Share - by Brake Technology
11.1.1.4.4 South Africa: Middle East & Africa Servo Motors and Drives Market Share - by Industry
11.1.1.5 Rest of Middle East & Africa: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
11.1.1.5.1 Rest of Middle East & Africa: Middle East & Africa Servo Motors and Drives Market Share - by Component
11.1.1.5.2 Rest of Middle East & Africa: Middle East & Africa Servo Motors and Drives Market Share - by Product Type
11.1.1.5.3 Rest of Middle East & Africa: Middle East & Africa Servo Motors and Drives Market Share - by Brake Technology
11.1.1.5.4 Rest of Middle East & Africa: Middle East & Africa Servo Motors and Drives Market Share - by Industry
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning and Concentration
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Product News & Company News
13.4 Collaboration and Mergers & Acquisitions
14. Company Profiles
14.1 ABB Ltd
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 Delta Electronics Inc
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 Fanuc Corp
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 Fuji Electric Co Ltd
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 1.4.4 SWOT Analysis
14.4.6 Key Developments
14.5 Mitsubishi Electric Corp
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 Nidec Corp
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 Rockwell Automation Inc
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 Schneider Electric SE
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 Siemens AG
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 Yaskawa Electric Corp
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 Word Index
15.2 About the Insight Partners
List of Tables
Table 1. Middle East & Africa Servo Motors and Drives Market Segmentation
Table 2. List of Vendors
Table 3. Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
Table 4. Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million) - by Component
Table 5. Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million) - by Product Type
Table 6. Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million) - by Brake Technology
Table 7. Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million) - by Industry
Table 8. Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million) - by Country
Table 9. United Arab Emirates: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Component
Table 10. United Arab Emirates: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Product Type
Table 11. United Arab Emirates: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Brake Technology
Table 12. United Arab Emirates: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Industry
Table 13. Saudi Arabia: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Component
Table 14. Saudi Arabia: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Product Type
Table 15. Saudi Arabia: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Brake Technology
Table 16. Saudi Arabia: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Industry
Table 17. South Africa: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Component
Table 18. South Africa: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Product Type
Table 19. South Africa: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Brake Technology
Table 20. South Africa: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Industry
Table 21. Rest of Middle East & Africa: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Component
Table 22. Rest of Middle East & Africa: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Product Type
Table 23. Rest of Middle East & Africa: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Brake Technology
Table 24. Rest of Middle East & Africa: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021 - 2031 (US$ Million) - by Industry
Table 25. List of Abbreviation
List of Figures
Figure 1. Middle East & Africa Servo Motors and Drives Market Segmentation - Country
Figure 2. Middle East & Africa Servo Motors and Drives Market - Key Market Dynamics
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Middle East & Africa Servo Motors and Drives Market Revenue (US$ Million), 2021-2031
Figure 5. Middle East & Africa Servo Motors and Drives Market Share (%) - by Component (2024 and 2031)
Figure 6. Controller Modules: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
Figure 7. Electronic Amplifiers: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
Figure 8. Sensors: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
Figure 9. Encoders: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
Figure 10. Others: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
Figure 11. Middle East & Africa Servo Motors and Drives Market Share (%) - by Product Type (2024 and 2031)
Figure 12. Servo Motor: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
Figure 13. Servo Drive: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
Figure 14. Middle East & Africa Servo Motors and Drives Market Share (%) - by Brake Technology (2024 and 2031)
Figure 15. Permanent Magnet: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
Figure 16. Spring: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
Figure 17. Others: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
Figure 18. Middle East & Africa Servo Motors and Drives Market Share (%) - by Industry (2024 and 2031)
Figure 19. Automotive and Transportation: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
Figure 20. Semiconductor and Consumer Electronics: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
Figure 21. Food Processing Industry: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
Figure 22. Textile Industry: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
Figure 23. Others: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021-2031 (US$ Million)
Figure 24. Middle East & Africa Servo Motors and Drives Market Breakdown, by Key Countries, 2024 and 2031 (%)
Figure 25. United Arab Emirates: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021- 2031 (US$ Million)
Figure 26. Saudi Arabia: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021- 2031 (US$ Million)
Figure 27. South Africa: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021- 2031 (US$ Million)
Figure 28. Rest of Middle East & Africa: Middle East & Africa Servo Motors and Drives Market - Revenue and Forecast, 2021- 2031 (US$ Million)
Figure 29. Heat Map Analysis by Key Players
Figure 30. Company Positioning and Concentration
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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.
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