North America High Precision GNSS Antennas Market to Grow at a CAGR of 6.7% to reach US$ 706.36 million from 2022 to 2030
The North America high precision GNSS antennas market size is estimated to grow from US$ 419.17 million in 2022 to US$ 706.36 million by 2030; it is estimated to grow at a CAGR of 6.7% from 2022 to 2030.
America High Precision GNSS Antennas Market Analyst Perspective:
The North America High Precision GNSS antennas market has witnessed significant growth in recent years. Factors, such as the increasing use of military spending on drones and strategic initiatives by North America high precision GNSS antennas market players, are anticipated to drive the North America high precision GNSS antennas market during the forecast period.
America High Precision GNSS Antennas Overview:
The North America high precision GNSS antennas market consists of countries such as the US, Canada, and Mexico. Global Navigation Satellite System (GNSS) is addressed to a constellation of satellites that provides signals from space that transmit positioning and timing data to GNSS receivers. The receivers then use this data to determine the location. GNSS provides global coverage. A GNSS antenna is a device that is used in GNSS systems and is designed and developed to receive and amplify the radio signals transferred on specific frequencies by GNSS satellites and transform them into an electronic signal for use by a GNSS or GPS receiver. The output of the GNSS or GPS antenna is fed into a GNSS or GPS receiver that can compute the precise position.
The demand for high precision GNSS antennae is rising owing to its surging demand from the military & defense, construction, agriculture, transportation, marine, and other sectors. These antennas are widely adopted for survey and mapping applications. It is also used in geophysics, geology, and archaeology. For example, the GNSS system helps with the high precision measurements of crustal strain. It helps to interpret the cause of deformation, which includes a dike or sill beneath the surface of an active volcano.
The North America high precision GNSS antennas market is witnessing growth due to the wide focus of the military & defense sectors on the development and use of autonomous vehicles, unmanned aerial vehicles (UAVs), and automatic guided vehicles (AGVs) in the military forces. Large deployment and development of drones for various military and non-military operations further drive the North America high precision GNSS antennas market growth.
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North America High Precision GNSS Antennas Market: Strategic Insights
Market Size Value in US$ 419.17 million in 2022 Market Size Value by US$ 706.36 million by 2030 Growth rate CAGR of 6.7% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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North America High Precision GNSS Antennas Market: Strategic Insights
Market Size Value in | US$ 419.17 million in 2022 |
Market Size Value by | US$ 706.36 million by 2030 |
Growth rate | CAGR of 6.7% from 2022 to 2030 |
Forecast Period | 2022-2030 |
Base Year | 2022 |
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Speak to AnalystAmerica High Precision GNSS Antennas Market Driver:
Strategic Initiatives by Market Players to Drive Growth of the North America High Precision GNSS Antennas Market
The North America high precision GNSS antennas market growth is driven by the strategic initiatives taken by the market players. GNNS antennas are used in several applications to provide accurate positioning information. They are developed and used in multiple shapes and sizes, and each has its benefits. For example, in the automotive, GNSS is used to display the location, speed, direction, and nearby streets and points of interest. In the air navigation system, GNSS is used to verify the aircraft's arrival at turn points in gliding competitions. In the marine system, GNSS is used in boats and ships to navigate in the world's lakes, seas and oceans. Thus, such a wide demand for GNSS in several industries encourages the North America high precision GNSS antennas market players to implement a wide range of organic and inorganic growth strategies to cater to the growing demand from several industry verticals, which in turn is driving the North America high precision GNSS antennas market growth.
A few of the growth strategies in the North America high precision GNSS antennas market are mentioned below:
- In January 2020, Modular Mining, a leader in delivering real-time computer-based mine management solutions, launched a new Customer Experience Center (CEC) in the company's corporate headquarters in Tucson, US. As the company commercially provides MM2 High-Precision Global Navigation Satellite System (HP-GNSS) system, this launch of the new center helped the company to expand its business more by catering to more customers.
- In March 2023, Septentrio, a provider of high-precision GNSS positioning solutions, announced the commencement of the Agnostic Corrections Partner Program. This program assists the use of Septentrio receivers with several high-accuracy services, offering varying levels of accuracy, coverage, and delivery methods. This also permits integrators and users to select the service that is best suitable for their specific application and business model.
- In November 2022, Linx Technologies, now part of TE Connectivity, expanded its Splatch antenna series with the launch of the ANT-GNL1-nSP, a surface-mount embedded GNSS antenna that supports GPS, Galileo, GLONASS, Beidou, and QZSS in the L1/E1/B1 bands.
America High Precision GNSS Antennas Market Segmentation and Scope:
The “North America High Precision GNSS Antennas market” is segmented on the basis of type, technology, frequency range, and end user. Based on type, the North America high precision GNSS antennas market is segmented into harsh environment antennas, survey grade antennas, and marine antenna. Based on technology, the North America high precision GNSS antennas market is categorized into GPS, GLONASS, and GALILEO. Based on frequency range, the North America high precision GNSS antennas market is segmented into L1, L2, and L5. Based on end user, the North America high precision GNSS antennas market is segmented into consumer electronics, military and defense, aviation, construction and mining, and others. Based on geography, the North America high precision GNSS antennas market is segmented into the US, Canada, and Mexico.
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Segmental Analysis:
Based on technology, the North America high precision GNSS antennas market is segmented into GPS, GLONASS, and GALILEO. The GPS segment holds the largest market share in the North America High Precision GNSS antennas market. Global Positioning System (GPS) is one of the most widely used GNSS systems. GPS currently has 31 operational satellites. Specifically, it refers to the NAVSTAR GPS, a constellation of satellites developed by the US Department of Defense (DoD). Formerly, the GPS was developed for military use, but later, it was made accessible to civilians as well. This system provides continuous positioning and timing information globally under any weather conditions. GNSS is used in association with GPS systems to provide precise and accurate location positioning anywhere on Earth.
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Regional Analysis:
The US holds one of the largest North America High Precision GNSS market shares. According to the International Trade Administration (ITA), the US has one of the largest automotive markets in the world. According to ITA, the US, the technically advanced nation, is expected to remain the leading market for the 21st-century automotive industry owing to its large consumer base, available infrastructure, open investment policy, strong R&D capabilities, a highly skilled workforce, and local and state government incentives. Therefore, the demand for automobiles from the US contributes to the growing demand for high precision GNSS antennae for its application in the vehicle navigation system. The demand for high precision GNSS antennae is increasing in applications such as off-road and recreational. For example, according to the National Ski Areas Association (NSAA), American ski resorts reported 64.7 million visits during 2022–2023, a 6.6% increase over the previous year. In skiing competitions, high precision GNSS antenna is mounted on the enthusiast’s helmet for the data collection to get precise knowledge of the rate of descent, lateral accelerations, and gate crossing times. Thus, the rise in such activities drives the North America high precision GNSS antennas market in the US.
Key Player Analysis:
Hexagon AB, Trimble Inc, Septentrio NV, 2J Antennas S.R.O., Tallysman, Taoglas, Abracon, u-Box Holding AG, Quectel Wireless Solutions Co Ltd, and Dayton-Granger Inc are among the key North America High Precision GNSS antennas market players profiled in the report.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions and new product launches are highly adopted by companies in the North America high precision GNSS antennas market. A few recent key North America high precision GNSS antennas market developments are listed below:
- In September 2023, u-blox announced the u-blox NEO-F10N, its latest positioning module. It supports L1/L5 GNSS bands from multiple constellations (including NavIC) to provide solid meter-level position accuracy in urban areas. u-blox also introduces the new ANN-MB5 L1/L5 antenna together with the u-blox NEO-F10N to strengthen u-blox’s F10 dual-band solution. This tailored antenna offers customers an easy and reliable option for meter-level applications that require multi-band and multi-constellation support, even in challenging environments.
- In June 2023, u-blox announced two new modules based on the u-blox F9 high-precision GNSS platform. The low-power NEO-F9P supports precise navigation and automation of moving industrial machinery, and the ZED-F9P-15B provides customers in the mobile robotics market with an L1/L5 option in addition to the L1/L2 bands. The module delivers centimeter-level accuracy in seconds and comes in the smallest ever high-precision module form factor—50% smaller than the regular u-blox ZED form factor. This small size, coupled with very low power consumption and ANN-MB1 antenna compatibility, makes the u-blox NEO-F9P ideally suited for a wide range of use cases, including precise navigation and automation in smart antennas, UAVs, and mobile robotics.
- In June 2023, Abracon partnered with u-blox, a renowned global leader in the development of cutting-edge IoT communication modules, GNSS modules, chips, and services. This strategic collaboration between both companies aims to deliver a comprehensive turnkey IoT solution to their joint customers by combining Abracon's high-performance antennas with u-blox's industry-leading IoT module solutions.
- In January 2023, Abracon, a leader in passive components, announced the new product release for the Ultra-Wideband (UWB) Antennas, including the Ultra-Wide Band 3.3–7.2 GHz Chip Antenna, the Ultra-Wide Band 3.7–4.2 GHz Chip Antenna, and the Ultra-Wide Band 6.2–8.2 GHz Chip Antenna solutions. Abracon’s Ultra-Wideband (UWB) antennas are designed for the next generation of connectivity. These antennas provide best-in-class performance, offer high efficiency and low power consumption, and meet industry needs for fast/stable data transmission. The low power requirements of UWB antennas result in increased battery life, reducing overall operational costs.
- In February 2023, Taoglas, a trusted provider of antennas and IoT components that help solve complex engineering problems announced that it completed a transaction that resulted in a majority ownership from Graham Partners, a private investment firm targeting technology-driven advanced manufacturing companies. The deal will support Taoglas’ continued expansion of in-house RF engineering expertise and design globally, new product development, sales channels, and customer base across a wide range of IoT industries, including mobility, infrastructure, transportation, medical, industrial, and smart city verticals.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Technology, Frequency Range, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Strategic initiatives by market players can be one of the drivers for the North America high precision GNSS antenna market.
The incremental growth expected to be recorded for the North America high precision GNSS antenna market during the forecast period is US$ 287.20 million.
Advent of advanced robotics solutions is making positive impact, which is anticipated to play a significant role in the North America high precision GNSS antenna market in the coming years.
The North America high precision GNSS antenna market is expected to reach US$ 706.36 million by 2030.
The North America high precision GNSS antenna market was estimated to be US$ 419.17 million in 2022 and is expected to grow at a CAGR of 6.7% % during the forecast period 2023 - 2030.
The key players holding majority shares in the North America high precision GNSS antenna market are HEXAGON; Trimble Inc.; 2J Antennas, s.r.o.; Tallysman; and DAYTON-GRANGER, INC.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. High Precision GNSS Antenna Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
5. High Precision GNSS Antenna Key Market Dynamics
5.1 Drivers
5.1.1 Increasing Use of Military Spending on Drones
5.1.2 Strategic Initiatives by Market Players
5.2 Restraints
5.2.1 Inefficiency Due to Signal Threats
5.3 Opportunity
5.3.1 Rising Off-Road and Recreational Activities
5.4 Future Trend
5.4.1 Advent of Advanced Robotics Solutions
5.5 Impact of Drivers and Restraints:
6. High Precision GNSS Antenna Market Analysis - Type
6.1 Harsh Environment Antennas
6.1.1 Overview
6.2 Survey Grade Antennas
6.2.1 Overview
6.3 Marine Antennas
6.3.1 Overview
7. High Precision GNSS Antenna Market Analysis - Technology
7.1 GPS
7.1.1 Overview
7.2 GLONASS
7.2.1 Overview
7.3 GALILEO
7.3.1 Overview
8. High Precision GNSS Antenna Market Analysis -Frequency Range
8.1 L1
8.1.1 Overview
8.2 L2
8.2.1 Overview
8.3 L5
8.3.1 Overview
9. High Precision GNSS Antenna Market Analysis -End User
9.1 Aviation
9.1.1 Overview
9.2 Consumer Electronics
9.2.1 Overview
9.3 Construction and Mining
9.3.1 Overview
9.4 Military and Defense
9.4.1 Overview
9.5 Others
9.5.1 Overview
10. High Precision GNSS Antenna Market - Geographical Analysis
10.1 North America
10.1.1 North America high precision GNSS Antenna Market Overview
10.1.2 North America high precision GNSS Antenna Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.3 North America high precision GNSS Antenna Market Breakdown by Type
10.1.3.1 North America high precision GNSS Antenna Market Revenue and Forecasts and Analysis - By Type
10.1.4 North America high precision GNSS Antenna Market Breakdown by Technology
10.1.4.1 North America high precision GNSS Antenna Market Revenue and Forecasts and Analysis - By Technology
10.1.5 North America high precision GNSS Antenna Market Breakdown by Frequency Range
10.1.5.1 North America high precision GNSS Antenna Market Revenue and Forecasts and Analysis – By Frequency Range
10.1.7 North America high precision GNSS Antenna Market Breakdown by End User
10.1.7.1 North America high precision GNSS Antenna Market Revenue and Forecasts and Analysis – By End User
10.1.8 North America high precision GNSS Antenna Market Breakdown by Country
10.1.8.1 North America high precision GNSS Antenna Market Revenue and Forecasts and Analysis – By Country
10.1.8.2 US High Precision GNSS Antenna Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.8.2.1 US High Precision GNSS Antenna Market Breakdown by Type
10.1.8.2.2 US High Precision GNSS Antenna Market Breakdown by Technology
10.1.8.2.3 US High Precision GNSS Antenna Market Breakdown by Frequency Range
10.1.8.2.4 US High Precision GNSS Antenna Market Breakdown by End User
10.1.8.3 Canada High Precision GNSS Antenna Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.8.3.1 Canada High Precision GNSS Antenna Market Breakdown by Type
10.1.8.3.2 Canada High Precision GNSS Antenna Market Breakdown by Technology
10.1.8.3.3 Canada High Precision GNSS Antenna Market Breakdown by Frequency Range
10.1.8.3.4 Canada High Precision GNSS Antenna Market Breakdown by End User
10.1.8.4 Mexico High Precision GNSS Antenna Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.8.4.1 Mexico High Precision GNSS Antenna Market Breakdown by Type
10.1.8.4.2 Mexico High Precision GNSS Antenna Market Breakdown by Technology
10.1.8.4.3 Mexico High Precision GNSS Antenna Market Breakdown by Frequency Range
10.1.8.4.4 Mexico High Precision GNSS Antenna Market Breakdown by End User
11. High Precision GNSS Antenna Market – Impact of COVID-19 Pandemic
11.1 Pre & Post Covid-19 Impact
12. Competitive Landscape
12.1 Heat Map Analysis By Key Players
12.2 Company Positioning & Concentration
13. Rugged Tablet Market Industry Landscape
13.1 Overview
13.2 Product Development
13.3 Mergers & Acquisitions
14. Company Profiles
14.1 Hexagon AB
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 Trimble 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 Septentrio NV
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 2J Antennas S.R.O.
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 Tallysman
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 Taoglas
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 Abracon
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 u-blox Holding AG
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 Quectel Wireless Solutions Co Ltd
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 Dayton-Granger Inc
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
List of Tables
Table 1. High Precision GNSS Antenna Market Segmentation
Table 2. List of Vendors in the Value Chain:
Table 3. North America high precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 4. North America high precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 5. North America high precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn) – By Frequency Range
Table 6. North America high precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 7. North America high precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 8. US High Precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 9. US High Precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 10. US High Precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn) – By Frequency Range
Table 11. US High Precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 12. Canada High Precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 13. Canada High Precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 14. Canada High Precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn) – By Frequency Range
Table 15. Canada High Precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 16. Mexico High Precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 17. Mexico High Precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn) – By Technology
Table 18. Mexico High Precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn) – By Frequency Range
Table 19. Mexico High Precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn) – By End User
Table 20. Company Positioning & Concentration
Table 21. List of Abbreviation
List of Figures
Figure 1. High Precision GNSS Antenna Market Segmentation, By Geography
Figure 2. PEST Analysis
Figure 3. Ecosystem: High Precision GNSS Antenna Market
Figure 4. High Precision GNSS Antenna Market –Key Market Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. Harsh Environment Antennas Market Revenue and Forecasts To 2030 (US$ Million)
Figure 7. Survey Grade Antennas Market Revenue and Forecasts To 2030 (US$ Million)
Figure 8. Marine Antennas Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. GPS Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. GLONASS Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. GALILEO Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. L1 Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. L2 Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. L5 Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. Aviation Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. Consumer Electronics Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. Construction and Mining Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. Military and Defense Market Revenue and Forecasts To 2030 (US$ Million)
Figure 19. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 20. High Precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 21. High Precision GNSS Antenna Market Breakdown by Type (2022 and 2030)
Figure 22. High Precision GNSS Antenna market Breakdown by Technology, 2022 and 2030 (%)
Figure 23. High Precision GNSS Antenna market Breakdown by Frequency Range, 2022 and 2030 (%)
Figure 24. High Precision GNSS Antenna market Breakdown by End User, 2022 and 2030 (%)
Figure 25. High Precision GNSS Antenna market Breakdown by Country, 2022 and 2030 (%)
Figure 26. US High Precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 27. Canada High Precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 28. Mexico High Precision GNSS Antenna Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 29. Heat Map Analysis By Key Players
The List of Companies - North America High Precision GNSS Antenna Market
- Hexagon AB
- Trimble Inc
- Septentrio NV
- 2J Antennas S.R.O.
- Tallysman
- Taoglas
- Abracon
- u-blox Holding AG
- Quectel Wireless Solutions Co Ltd
- Dayton-Granger Inc
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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Adaptive Traffic Control System Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Hardware, Software, and Services), Component (OPAC, SCOOT, RHODES, and SCATS), and Application [Highways and Urban (Cities)] and Geography
Dec 2023
3D Audio Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Hardware, Software, and Services) and End Use Industries (Consumer Electronics, Automotive, Media and Entertainment, Gaming, and Others)
Dec 2023
Data Center Cooling Fans Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Axial Fans, Centrifugal Fans, Mixed Flow Fans, and Others), Data Center Type (Hyperscale Data Center, Colocation Data Center, Wholesale Data Center, Enterprise Data Center, and Edge Data Center), and Geography
Dec 2023
Chillers Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Chiller Technology (Air-Cooled, Water-Cooled, and Steam-Fired), Technology (Process Chillers, Scroll Chillers, Screw Chillers, Centrifugal Chillers, Absorption Chillers, Modular Chillers, and Reverse Cycle Chillers), and Application (Commercial, Industrial, and Residential) and Geography
Dec 2023
Valve Actuator Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By End-user (Mining, LNG, Chemical, Oil and Gas, Water and Wastewater, Others), Product Type (Electrical, Manual, Hydraulic, Pneumatic), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, South & Central America)
Dec 2023
Radiation Hardened Feedback Sensors Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Sensor (Resolver, Encoder, Hall Effect Sensor, Potentiometer, and Others), Application (Space, Aerospace and Defense, Nuclear Power Plant, and Others), and Geography