The machine condition monitoring market in North America was valued US$ 1,004.3 million in 2019 and is projected to reach US$ 1,380.9 million by 2027; it is expected to grow at a CAGR of 4.1% from 2020 to 2027.
The market growth is prominently being driven by the rising number of manufacturing plants. The manufacturers of condition monitoring systems are experiencing substantial demand for their products from end users. This is compelling the manufacturers of these systems to invest significant amounts and staff-hours to design and develop robust technologies. The majority of the manufacturers in the machine condition monitoring market are of emphasizing on developing and supplying wireless technologies for machine condition monitoring. The development and commercialization of wireless condition monitoring system have attracted several end users,along with highlighting tremendous demand for such technologies. The large enterprises with the well-balanced financial conditions are currently the major procurers of wireless technologies.
The machine condition monitoring market is a highly fragmented and competitive marketplace. The leading companies in this market continue to broaden their clientele by expanding their current offerings.Prominent players face an increasing level of competition, both from start-ups to leading established companies across the world. Several companies in the value chain are acquiring other players in the machine condition monitoring market to provide efficient services to its customers, and thus, to maintain or uplift their position in the market. For instance, In August 2019, Fluke Corporation expanded IBN Maximo by adding its condition monitoring solution. The new solution integrates real-time asset data in existing IBM Maximo workflows. The significant number of machine condition monitoring providers is based in North America, mainly in the US.
The North America machine condition monitoring market is expected to grow at a good CAGR during the forecast period. The growing digitization and a large number of players focusing on developing efficient solutions are the major factors supporting the growth of the machine condition monitoring market in this region.
Mexico Machine condition monitoring Market Revenue and Forecasts to 2027 (US$ Mn)
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North America Machine Condition Monitoring Market–Segmentation
North America Machine condition monitoringMarket,by Monitoring Technique
- Vibration Monitoring
- Thermography
- Oil Analysis
- Corrosion Monitoring
- Ultrasound Emission
- Motor Current Analysis
North America Machine condition monitoringMarket,byOffering
- Hardware
- Vibration Sensors
- Proximity Probes
- Tachometers
- Infrared Sensors
- Spectrometers
- Ultrasound Detectors
- Corrosion Probes
- Others
- Software
North America Machine condition monitoringMarket,byDeployment Type
- On-Premises
- Cloud
North America Machine condition monitoring Market,byMonitoring Process
- Online Condition Monitoring
- Portable Condition Monitoring
North America Machine condition monitoring Market,byIndustry
- Oil & Gas
- Power Generation
- Automotive
- Aerospace & Defense
- Food & Beverages
- Manufacturing
- Others
North America Machine condition monitoringMarket,byCountry
- US
- Canada
- Mexico
North America Machine condition monitoringMarket-Companies Mentioned
- Emerson Electric
- General Electric.
- SKF
- National Instruments
- Honeywell International Inc.
- Als Ltd.
- Meggitt
- Parker Hannifin
- Rockwell Automation
- Schaeffler
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Monitoring Technique, Offering, Deployment, Monitoring Process, and Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Machine Condition Monitoring Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.3 Ecosystem Analysis
5. North America Machine Condition Monitoring Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Demand for Automated Solutions in Manufacturing Facilities
5.2 Market Restraints
5.2.1 High Cost of Maintenance and Lifespan of Machine Condition Monitoring Systems
5.3 Market Opportunities
5.3.1 Rising Adoption of Wireless Technologies
5.4 Future Trends
5.4.1 Revolutionization of Embedded Sensors and Smart Wireless Communication in the Market
5.5 Impact Analysis of Drivers and Restraints
6. North America Machine Condition Monitoring Market Analysis
6.1 Machine Condition Monitoring Market Overview
6.2 North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Global Market Players Ranking
7. North America Machine Condition Monitoring Market Analysis – By Monitoring Technique
7.1 Overview
7.2 North America Machine Condition Monitoring Market, By Monitoring Technique (2019 and 2027)
7.3 Vibration Monitoring
7.3.1 Overview
7.3.2 Vibration Monitoring: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Thermography
7.4.1 Thermography: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Oil Analysis
7.5.1 Oil Analysis: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
7.6 Corrosion Monitoring
7.6.1 Corrosion Monitoring: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
7.7 Ultrasound Emission
7.7.1 Ultrasound Emission: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
7.8 Motor Current Analysis
7.8.1 Motor Current Analysis: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8. North America Machine Condition Monitoring Market Analysis – By Offering
8.1 Overview
8.2 North America Machine Condition Monitoring Market, By Offering (2019 and 2027)
8.3 Hardware
8.3.1 Overview
8.3.2 Hardware: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.3 Vibration Sensors
8.3.3.1 Vibration Sensors: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.4 Proximity Probes
8.3.4.1 Proximity Probes: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.5 Tachometer
8.3.5.1 Tachometer: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.6 Infrared Sensors
8.3.6.1 Infrared Sensors: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.7 Spectrometer
8.3.7.1 Spectrometer: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.8 Ultrasound Detectors
8.3.8.1 Ultrasound Detectors: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.9 Corrosion Probes
8.3.9.1 Corrosion Probes: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.3.10 Other
8.3.10.1 Other: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Software
8.4.1 Software: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
8.4.2 Data Integrator
8.4.3 Diagnosis Reporting
8.4.4 Order Tracking Analysis
8.4.5 Parameter Calculation
9. North America Machine Condition Monitoring Market Analysis – By Deployment Type
9.1 Overview
9.2 North America Machine Condition Monitoring Market, By Deployment Type (2019 and 2027)
9.3 Cloud
9.3.1 Overview
9.3.2 Cloud: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
9.4 On-Premise
9.4.1 Overview
9.4.2 On-Premise: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
10. North America Machine Condition Monitoring Market Analysis – By Monitoring Process
10.1 Overview
10.2 North America Machine Condition Monitoring Market, By Monitoring Process (2019 and 2027)
10.3 Online Condition Monitoring
10.3.1 Overview
10.3.2 Online Condition Monitoring: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
10.4 Portable Condition Monitoring
10.4.1 Overview
10.4.2 Portable Condition Monitoring: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
11. North America Machine Condition Monitoring Market Analysis – By End User
11.1 Overview
11.2 North America Machine Condition Monitoring Market, By End User (2019 and 2027)
11.3 Oil & Gas
11.3.1 Overview
11.3.2 Oil & Gas: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
11.4 Power Generation
11.4.1 Overview
11.4.2 Power Generation: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
11.5 Automotive
11.5.1 Overview
11.5.2 Automotive: North America Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
11.6 Aerospace & Defense
11.6.1 Overview
11.6.2 Aerospace & Defense: North America Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
11.7 Food & Beverage
11.7.1 Overview
11.7.2 Food & Beverage: North America Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
11.8 Manufacturing
11.8.1 Overview
11.8.2 Manufacturing: North America Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
11.9 Other
11.9.1 Overview
11.9.2 Other: North America Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
12. North America Machine Condition Monitoring Market –Country Analysis
12.1 Overview
12.1.1 North America: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
12.1.2 North America: Machine Condition Monitoring Market, By Monitoring Technique
12.1.3 North America: Machine Condition Monitoring Market, By Offering
12.1.3.1 North America: Machine Condition Monitoring Market, By Hardware
12.1.4 North America: Machine Condition Monitoring Market, By Deployment Type
12.1.5 North America: Machine Condition Monitoring Market, By Monitoring Process
12.1.6 North America: Machine Condition Monitoring Market, By End User
12.1.7 North America: Machine Condition Monitoring Market, By Country
12.1.7.1 US: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
12.1.7.1.1 US: Machine Condition Monitoring Market, by Monitoring Technique
12.1.7.1.2 US: Machine Condition Monitoring Market, by Offering
12.1.7.1.2.1 US: Machine Condition Monitoring Market, by Hardware
12.1.7.1.3 US: Machine Condition Monitoring Market, by Deployment Type
12.1.7.1.4 US: Machine Condition Monitoring Market, by Monitoring Process
12.1.7.1.5 US: Machine Condition Monitoring Market, by End User
12.1.7.2 Canada: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
12.1.7.2.1 Canada: Machine Condition Monitoring Market, by Monitoring Technique
12.1.7.2.2 Canada: Machine Condition Monitoring Market, by Offering
12.1.7.2.2.1 Canada: Machine Condition Monitoring Market, by Hardware
12.1.7.2.3 Canada: Machine Condition Monitoring Market, by Deployment Type
12.1.7.2.4 Canada: Machine Condition Monitoring Market, by Monitoring Process
12.1.7.2.5 Canada: Machine Condition Monitoring Market, by End User
12.1.7.3 Mexico: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
12.1.7.3.1 Mexico: Machine Condition Monitoring Market, by Monitoring Technique
12.1.7.3.2 Mexico: Machine Condition Monitoring Market, by Offering
12.1.7.3.2.1 Mexico: Machine Condition Monitoring Market, by Hardware
12.1.7.3.3 Mexico: Machine Condition Monitoring Market, by Deployment Type
12.1.7.3.4 Mexico: Machine Condition Monitoring Market, by Monitoring Process
12.1.7.3.5 Mexico: Machine Condition Monitoring Market, by End User
13. Impact of Coronavirus Outbreak
13.1 North America: Impact Assessment of COVID-19 Pandemic
14. Industry Landscape
14.1 Overview
14.2 Market Initiative
14.3 New Development
15. Company Profiles
15.1 Honeywell International Inc.
15.1.1 Key Facts
15.1.2 Business Description
15.1.3 Products and Services
15.1.4 Financial Overview
15.1.5 SWOT Analysis
15.1.6 Key Developments
15.2 Schaeffler Technologies AG & Co. KG
15.2.1 Key Facts
15.2.2 Business Description
15.2.3 Products and Services
15.2.4 Financial Overview
15.2.5 SWOT Analysis
15.2.6 Key Developments
15.3 General Electric Company
15.3.1 Key Facts
15.3.2 Business Description
15.3.3 Products and Services
15.3.4 Financial Overview
15.3.5 SWOT Analysis
15.3.6 Key Developments
15.4 Emerson Electric Co.
15.4.1 Key Facts
15.4.2 Business Description
15.4.3 Products and Services
15.4.4 Financial Overview
15.4.5 SWOT Analysis
15.4.6 Key Developments
15.5 Parker Hannifin Corporation
15.5.1 Key Facts
15.5.2 Business Description
15.5.3 Products and Services
15.5.4 Financial Overview
15.5.5 SWOT Analysis
15.5.6 Key Developments
15.6 Rockwell Automation, Inc.
15.6.1 Key Facts
15.6.2 Business Description
15.6.3 Products and Services
15.6.4 Financial Overview
15.6.5 SWOT Analysis
15.6.6 Key Developments
15.7 SKF
15.7.1 Key Facts
15.7.2 Business Description
15.7.3 Products and Services
15.7.4 Financial Overview
15.7.5 SWOT Analysis
15.7.6 Key Developments
15.8 Wilcoxon Sensing Technologies
15.8.1 Key Facts
15.8.2 Business Description
15.8.3 Products and Services
15.8.4 Financial Overview
15.8.5 SWOT Analysis
15.8.6 Key Developments
15.9 ALS Limited
15.9.1 Key Facts
15.9.2 Business Description
15.9.3 Products and Services
15.9.4 Financial Overview
15.9.5 SWOT Analysis
15.9.6 Key Developments
15.10 National Instruments Corporation
15.10.1 Key Facts
15.10.2 Business Description
15.10.3 Products and Services
15.10.4 Financial Overview
15.10.5 SWOT Analysis
15.10.6 Key Developments
16. Appendix
16.1 About The Insight Partners
16.2 Word Index
LIST OF TABLES
Table 1. North America Machine Condition Monitoring Market – Revenue, and Forecast to 2027 (US$ Million)
Table 2. North America Machine Condition Monitoring Market, By Monitoring Technique – Revenue and Forecast to 2027 (US$ Million)
Table 3. North America Machine Condition Monitoring Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 4. America Machine Condition Monitoring Market, By Hardware – Revenue and Forecast to 2027 (US$ Million)
Table 5. North America Machine Condition Monitoring Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 6. North America Machine Condition Monitoring Market, By Monitoring Process – Revenue and Forecast to 2027 (US$ Million)
Table 7. North America Machine Condition Monitoring Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 8. North America Machine Condition Monitoring Market, By Country – Revenue and Forecast to 2027 (US$ Million)
Table 9. US Machine Condition Monitoring Market, By Monitoring Technique – Revenue and Forecast to 2027 (US$ Million)
Table 10. US Machine Condition Monitoring Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 11. US Machine Condition Monitoring Market, By Hardware – Revenue and Forecast to 2027 (US$ Million)
Table 12. US Machine Condition Monitoring Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 13. US Machine Condition Monitoring Market, By Monitoring Process – Revenue and Forecast to 2027 (US$ Million)
Table 14. US Machine Condition Monitoring Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 15. Canada Machine Condition Monitoring Market, By Monitoring Technique – Revenue and Forecast to 2027 (US$ Million)
Table 16. Canada Machine Condition Monitoring Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 17. Canada Machine Condition Monitoring Market, By Hardware – Revenue and Forecast to 2027 (US$ Million)
Table 18. Canada Machine Condition Monitoring Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 19. Canada Machine Condition Monitoring Market, By Monitoring Process – Revenue and Forecast to 2027 (US$ Million)
Table 20. Canada Machine Condition Monitoring Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 21. Mexico Machine Condition Monitoring Market, By Monitoring Technique – Revenue and Forecast to 2027 (US$ Million)
Table 22. Mexico Machine Condition Monitoring Market, By Offering – Revenue and Forecast to 2027 (US$ Million)
Table 23. Mexico Machine Condition Monitoring Market, By Hardware – Revenue and Forecast to 2027 (US$ Million)
Table 24. Mexico Machine Condition Monitoring Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 25. Mexico Machine Condition Monitoring Market, By Monitoring Process – Revenue and Forecast to 2027 (US$ Million)
Table 26. Mexico Machine Condition Monitoring Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 27. List of Abbreviation
LIST OF FIGURES
Figure 1. Machine Condition Monitoring Market Segmentation
Figure 2. Machine Condition Monitoring Market Segmentation – By Country
Figure 3. Global Machine Condition Monitoring Market Overview
Figure 4. Machine Condition Monitoring Market, by Country
Figure 5. Machine Condition Monitoring Market, By Monitoring Technique
Figure 6. North America – PEST Analysis
Figure 7. Machine Condition Monitoring Market – Ecosystem Analysis
Figure 8. Machine Condition Monitoring Market: Impact Analysis of Drivers and Restraints
Figure 9. North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 10. North America Machine Condition Monitoring Market Revenue Share, by Monitoring Technique (2019 and 2027)
Figure 11. Vibration Monitoring: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. Thermography: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. Oil Analysis: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. Corrosion Monitoring: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. Ultrasound Emission: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. Motor Current Analysis: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. North America Machine Condition Monitoring Market Revenue Share, by Offering (2019 and 2027)
Figure 18. Hardware: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. Vibration Sensors: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Proximity Probes: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. Tachometer: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. Infrared Sensors: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Spectrometer: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Ultrasound Detectors: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Corrosion Probes: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Other: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Software: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. North America Machine Condition Monitoring Market Revenue Share, by Deployment Type (2019 and 2027)
Figure 29. Cloud: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 30. On-Premise: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. North America Machine Condition Monitoring Market Revenue Share, by Monitoring Process (2019 and 2027)
Figure 32. Online Condition Monitoring: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 33. Portable Condition Monitoring: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 34. North America Machine Condition Monitoring Market Revenue Share, by End User (2019 and 2027)
Figure 35. Oil & Gas: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 36. Power Generation: North America Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 37. Automotive: North America Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
Figure 38. Aerospace & Defense: North America Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
Figure 39. Food & Beverage: North America Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
Figure 40. Manufacturing: North America Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
Figure 41. Other: North America Machine Condition Monitoring Market –Revenue and Forecast to 2027 (US$ Million)
Figure 42. North America: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 43. North America Machine Condition Monitoring Market Revenue Share, By Monitoring Technique (2019 and 2027)
Figure 44. North America Machine Condition Monitoring Market Revenue Share, By Offering (2019 and 2027)
Figure 45. North America Machine Condition Monitoring Market Revenue Share, By Hardware (2019 and 2027)
Figure 46. North America Machine Condition Monitoring Market Revenue Share, By Deployment Type (2019 and 2027)
Figure 47. North America Machine Condition Monitoring Market Revenue Share, By Monitoring Process (2019 and 2027)
Figure 48. North America Machine Condition Monitoring Market Revenue Share, By End User (2019 and 2027)
Figure 49. North America Machine Condition Monitoring Market Revenue Share, By Country (2019 and 2027)
Figure 50. US: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 51. Canada: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 52. Mexico: Machine Condition Monitoring Market – Revenue and Forecast to 2027 (US$ Million)
Figure 53. Impact of COVID-19 Pandemic in North American Country Markets
The List of Companies - North America Machine Condition Monitoring Market
- Emerson Electric
- General Electric.
- SKF
- National Instruments
- Honeywell International Inc.
- Als Ltd.
- Meggitt
- Parker Hannifin
- Rockwell Automation
- Schaeffler
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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3D Surveillance Camera Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product Type (Dome Camera, Bullet Camera, PTZ Camera, and Others), Technology (Stereoscopic Imaging, Time of Flight, and Structured Light Imaging), and Application (People Tracking, Object or Scene Detection, Monitoring Systems, Face Recognition, Robotic Arm Collision Avoidance, and Others), and Geography
Jun 2020
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)