[Research Report] The product information management market is expected to grow from US$ 11,245.89 million in 2022 to US$ 31,417.96 million by 2030; it is estimated to grow at a CAGR of 13.7% from 2022 to 2030.
Analyst Perspective:
The product information management market has witnessed significant growth over the past few years, primarily fueled by the wider acceptance of digital commerce and digital transformation across different verticals. With the growth of e-commerce companies, the challenge of continually updating an ever-expanding stock-keeping unit (SKU) list has also been increasing. With the addition of each new product, the list of prices, labels and product descriptions has also increased. Such product data tends to become unmanageable very quickly. For example, when an organization targets new demographics or pursues new engagement channels, it often requires updating product messaging and pricing. As new suppliers are onboarded, they also update product catalogs and descriptions. Manually arranging product information is a tedious and expensive process. The lack of a unified system to coordinate the exchange of data between different teams entails various challenges, including the risk of sharing incorrect or obsolete information with consumers. Consequently, several e-commerce brands are adopting such tools to enable a seamless customer and employee experience.
Market Overview:
This solutions allow users to store, supplement, and manage multivariate product information. These tools centralize product-related data while streamlining the process of updating and managing precise information across multiple sales and marketing channels. This solutions can be integrated with most e-commerce platforms, enterprise resource management (ERP) software, and customer relationship management (CRM) systems, ensuring that updated product information is accessible across the different departments of an organization. Additionally, they are invaluable for e-commerce enterprises whose sales strategy, product catalog, and marketing messaging are continually evolving.
Strategic Insights
Market Driver:
Growing Requirement for Efficient Management of Data to Drive Growth of the Product Information Management Market
Several products are sold through e-commerce sites each day, and managing product information efficiently is crucial for success. This solutions offer several advantages that greatly aid e-commerce sites. Centralized product data is the primary benefit of these solutions, which allows the centralization of all product information into a single repository. Thus, details such as images, descriptions of products, pricing, and specifications, among others, are stored in one place. Additionally, this solutions ensure consistency of information across varied channels, such as websites, social media platforms, and marketplaces. Any updates or changes made in the system are automatically reflected, ensuring a uniform brand image and better customer experience.
Furthermore, these solutions ensure improved data quality since they have robust data validation and cleansing capabilities. It can efficiently flag inaccuracies and missing information, ensuring better searchability and product discovery. With respect to managing data, these solutions thus ensure that product data is accurate and consistent, manage user rights, enable easy editing, custom views, data validation, and control versioning and publishing. This solutions are thus different than general data management software, which is utilized for determining the relationships and associations between data sets, creating a hierarchy for organizing and classifying data through the establishment of intelligent connections between various product lines. This solution thus offers enterprises the power to construct flexible and scalable data models by carving out a classification standard. Such benefits in managing product information efficiently are strongly promoting product information management market growth.
Market Segmental Analysis:
The product information management market is segmented on the basis of component, deployment, organization size, and vertical. Based on components, the product information management market is bifurcated into solutions and services. By deployment, the product information management market is divided into on-premise and cloud. By organization size, the product information management market is bifurcated into SMEs and large enterprises. Based on vertical, the product information management market is segregated into BFSI, healthcare, IT & telecom, manufacturing, retail & e-commerce, transportation & logistics, and others.
Large enterprises acquired the largest market share in 2022 and are expected to continue their domination throughout the forecast period. However, the SME segment is anticipated to witness a faster growth rate, buoyed by the rise in the number of e-commerce startups and the wide adoption of product information management solutions among such companies. Additionally, several product information management startups are tailoring their products to serve the SMEs specifically. It is leading to better acceptance of these solutions amongst SMEs, boosting the segment's growth rate.
Market Regional Analysis:
North America holds a substantial share of the product information management market. The US and Canada have been witnessing a significant rise in e-commerce orders. The US is estimated to be the 2nd largest market for e-commerce ahead of Japan. Per the Census Bureau of the Department of Commerce of the US, the estimated retail e-commerce sales for the
Q2 of 2023 (adjusted for seasonal variation, but not for price changes) was US$ 277.6 billion, an increase of 2.1% (±0.9%) from the Q1 of 2023. While retail sales growth is expected to slow year on year, e-commerce sales are anticipated to grow by double digits to reach ~US$ 1.1 trillion, buoyed by health, online grocery, personal care, and online resale. Digital grocery is anticipated to remain one of the prime contributors to e-commerce’s growth over the next five years. While grocery delivery intermediary sales are growing fast, the majority of the US digital grocery sales are primarily from the grocers’ websites. Despite present economic challenges, sales through online fashion resale platforms are expected to grow at a high pace through 2026, boosted by increased participation from fashion brands and growing adoption among consumers. Such trends have been boosting the adoption of these solutions among SMEs at a faster pace, leading to the growth of the product information management market in the region.
Asia Pacific is anticipated to witness the fastest growth rate during the forecast period. The region is witnessing a tremendous surge in population growth, coupled with rising penetration of the Internet and digital commerce. Additionally, rural areas in several developing countries are also witnessing a rising penetration of network connectivity and 5G. The region is witnessing a digital transformation, with several nations undertaking smart city projects. Such trends are directly promoting the uptake of the Internet and digital commerce in the region.
Moreover, in populous countries such as India and China, several e-commerce startups are entering the retail sector to cater to the growing digital commerce segment. China is estimated to hold the largest e-commerce market in the world, with approximately 50% of the world’s transactions. Presence of domestic e-commerce platforms such as Alibaba’s Taobao and Tmall, JD.com, Pinduoduo, Kaola, Xiaohongshu, Dianping, Suning, Gome, Yihaodian, Vipshop, Dangdang, Mogujie, and JuMei are strong promoters of growth of the sector. Similarly, India has Flipkart, Amazon, Nykaa, Myntra, Ajio, and Lenskart. Such a booming e-commerce sector is strongly driving the demand for various product information management solutions in the region.
Furthermore, several startups are being established in the region. For instance, BetterCommerce is an end-to-end digital commerce platform with an API-first approach and provides solutions, among other systems. The company specifically targets brands with digital commerce platforms that are moving towards a direct-to-customer (D2C) approach. Such trends are also promoting the growth of the product information management market in the region.
Market Key Player Analysis:
The product information management market landscape consists of players such as Akeneo SAS, IBM Corporation, Informatica Inc., inriver AB, Jasper Commerce Inc., Oracle Corporation, Precisely Holdings LLC, Salsify Inc., Stibo Systems, and Syndigo LLC. The market is fragmented, with several solution providers from the North American region dominating the product information management market.
Market Recent Developments:
Companies in the product information management market adopt several inorganic and organic strategies, such as product innovation and partnership. Akeneo SAS, Informatica Inc., inRiver AB, Jasper Commerce Inc., and Salsify Inc. are key players in the product information management market. With the strong growth in demand for product information management, numerous companies have established partnerships to expand their offerings in digital solutions. For instance, in October 2022, SpecialChem, a leading materials selection platform, and Agilis, a provider of digital commerce solutions for the chemical industry, partnered to develop a cloud-based product information management solution designed specifically for the chemical industry. The rising complexity and volume of product information in the chemical industry can be efficiently tackled by the new solution, as per the company.
Additionally, several organizations are introducing new products or updating their existing portfolio to improve their market share. For instance, in November 2022, Propel Software introduced a product information management solution to enhance its product value management platform. The new offering is expected to provide a continuous thread that can transform technical data into customer-facing product content. As per the company, they are the only player to offer a product information management solution that enables synchronized workflows, dynamic collaboration, and data continuity throughout the whole product lifecycle. A few recent key product information management market developments are listed below:
- August 2023 – Inriver AB introduced the Brand Store, a self-service digital storefront providing a centralized and secure way to distribute product information. The launch was aimed at continuing the company’s commitment to evolving the product information management space with its new breed of solutions. Broan-NuTone, Brunswick, Rockwool, and Victorinox are some of the companies that adopted the solution to maintain full control over their critical product assets through this platform.
- July 2023 – Akeneo, a leading provider of product information management and product experience management solutions, was chosen by Childsplay Clothing, a luxury childrenswear retailer, to support its international growth. The retailer expects Akeneo’s product information management solution to aid in centralizing product information across its entire sales channel.
- February 2023 – Pimly, a Chicago-based startup, launched the Product Cloud, a Salesforce-native product information management platform. The new solution is expected to bring all product information of an organization into Salesforce to easily manage and utilize product data and digital assets across Salesforce clouds.
- February 2023 – Lumavate, a digital experience platform provider, launched its product information management solution. The new solution is anticipated to allow enterprises to take control of their product information and tailor the product information management solution according to their business needs.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Deployment, Organization Size, and Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1. Product Information Management Market - By Component
1.3.2. Product Information Management Market - By Deployment Type
1.3.3. Product Information Management Market - By Enterprise Size
1.3.4. Product Information Management Market - By Industry
1.3.5. Product Information Management Market - By Region
1.3.5.1. By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PRODUCT INFORMATION MANAGEMENT MARKET LANDSCAPE
4.1. OVERVIEW
4.2. ECOSYSTEM ANALYSIS
4.3. PEST ANALYSIS
4.3.1. North America - PEST Analysis
4.3.2. Europe - PEST Analysis
4.3.3. Asia Pacific (APAC) - PEST Analysis
4.3.4. Middle East & Africa (MEA) - PEST Analysis
4.3.5. South America (SAM)- PEST Analysis
5. PRODUCT INFORMATION MANAGEMENT MARKET - KEY INDUSTRY DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. PRODUCT INFORMATION MANAGEMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. PRODUCT INFORMATION MANAGEMENT - GLOBAL MARKET OVERVIEW
6.2. PRODUCT INFORMATION MANAGEMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/ MARKET SHARE
7. PRODUCT INFORMATION MANAGEMENT MARKET REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. SOFTWARE
7.3.1. Overview
7.3.2. Software Market Forecast and Analysis
7.3.3. Single Domain
7.3.4. Multi Domain
7.4. SERVICE
7.4.1. Overview
7.4.2. Service Market Forecast and Analysis
7.4.3. Consulting and System Integration
7.4.4. Training, Support and Maintenance
8. PRODUCT INFORMATION MANAGEMENT MARKET REVENUE AND FORECASTS TO 2028 - DEPLOYMENT TYPE
8.1. OVERVIEW
8.2. DEPLOYMENT TYPE MARKET FORECASTS AND ANALYSIS
8.3. ON-PREMISES
8.3.1. Overview
8.3.2. On-Premises Market Forecast and Analysis
8.4. CLOUD
8.4.1. Overview
8.4.2. Cloud Market Forecast and Analysis
9. PRODUCT INFORMATION MANAGEMENT MARKET REVENUE AND FORECASTS TO 2028 - ENTERPRISE SIZE
9.1. OVERVIEW
9.2. ENTERPRISE SIZE MARKET FORECASTS AND ANALYSIS
9.3. LARGE ENTERPRISE
9.3.1. Overview
9.3.2. Large Enterprise Market Forecast and Analysis
9.4. MEDIUM ENTERPRISE
9.4.1. Overview
9.4.2. Medium Enterprise Market Forecast and Analysis
9.5. SMALL ENTERPRISE
9.5.1. Overview
9.5.2. Small Enterprise Market Forecast and Analysis
10. PRODUCT INFORMATION MANAGEMENT MARKET REVENUE AND FORECASTS TO 2028 - INDUSTRY
10.1. OVERVIEW
10.2. INDUSTRY MARKET FORECASTS AND ANALYSIS
10.3. BFSI
10.3.1. Overview
10.3.2. BFSI Market Forecast and Analysis
10.4. RETAIL
10.4.1. Overview
10.4.2. Retail Market Forecast and Analysis
10.5. ENERGY AND UTILITIES
10.5.1. Overview
10.5.2. Energy and Utilities Market Forecast and Analysis
10.6. MANUFACTURING
10.6.1. Overview
10.6.2. Manufacturing Market Forecast and Analysis
10.7. TRANSPORTATION AND LOGISTICS
10.7.1. Overview
10.7.2. Transportation and Logistics Market Forecast and Analysis
10.8. IT AND TELECOM
10.8.1. Overview
10.8.2. IT and Telecom Market Forecast and Analysis
10.9. OTHERS
10.9.1. Overview
10.9.2. Others Market Forecast and Analysis
11. PRODUCT INFORMATION MANAGEMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1. North America Product Information Management Market Overview
11.1.2. North America Product Information Management Market Forecasts and Analysis
11.1.3. North America Market Forecasts and Analysis - By Component
11.1.4. North America Market Forecasts and Analysis - By Technology
11.1.5. North America Market Forecasts and Analysis - By Enterprise Size
11.1.6. North America Market Forecasts and Analysis - By Industry
11.1.7. North America Market Forecasts and Analysis - By Countries
11.1.7.1. US market
11.1.7.1.1. US Market by Component
11.1.7.1.2. US Market by Technology
11.1.7.1.3. US Market by Enterprise Size
11.1.7.1.4. US Market by Industry
11.1.7.2. Canada market
11.1.7.2.1. Canada Market by Component
11.1.7.2.2. Canada Market by Technology
11.1.7.2.3. Canada Market by Enterprise Size
11.1.7.2.4. Canada Market by Industry
11.1.7.3. Mexico market
11.1.7.3.1. Mexico Market by Component
11.1.7.3.2. Mexico Market by Technology
11.1.7.3.3. Mexico Market by Enterprise Size
11.1.7.3.4. Mexico Market by Industry
11.2. EUROPE
11.2.1. Europe Product Information Management Market Overview
11.2.2. Europe Product Information Management Market Forecasts and Analysis
11.2.3. Europe Market Forecasts and Analysis - By Component
11.2.4. Europe Market Forecasts and Analysis - By Technology
11.2.5. Europe Market Forecasts and Analysis - By Enterprise Size
11.2.6. Europe Market Forecasts and Analysis - By Industry
11.2.7. Europe Market Forecasts and Analysis - By Countries
11.2.7.1. France market
11.2.7.1.1. France Market by Component
11.2.7.1.2. France Market by Technology
11.2.7.1.3. France Market by Enterprise Size
11.2.7.1.4. France Market by Industry
11.2.7.2. Germany market
11.2.7.2.1. Germany Market by Component
11.2.7.2.2. Germany Market by Technology
11.2.7.2.3. Germany Market by Enterprise Size
11.2.7.2.4. Germany Market by Industry
11.2.7.3. Italy market
11.2.7.3.1. Italy Market by Component
11.2.7.3.2. Italy Market by Technology
11.2.7.3.3. Italy Market by Enterprise Size
11.2.7.3.4. Italy Market by Industry
11.2.7.4. Spain market
11.2.7.4.1. Spain Market by Component
11.2.7.4.2. Spain Market by Technology
11.2.7.4.3. Spain Market by Enterprise Size
11.2.7.4.4. Spain Market by Industry
11.2.7.5. UK market
11.2.7.5.1. UK Market by Component
11.2.7.5.2. UK Market by Technology
11.2.7.5.3. UK Market by Enterprise Size
11.2.7.5.4. UK Market by Industry
11.2.7.6. Rest of Europe market
11.2.7.6.1. Rest of Europe Market by Component
11.2.7.6.2. Rest of Europe Market by Technology
11.2.7.6.3. Rest of Europe Market by Enterprise Size
11.2.7.6.4. Rest of Europe Market by Industry
11.3. ASIA PACIFIC (APAC)
11.3.1. Asia Pacific Product Information Management Market Overview
11.3.2. Asia Pacific Product Information Management Market Forecasts and Analysis
11.3.3. Asia Pacific Market Forecasts and Analysis - By Component
11.3.4. Asia Pacific Market Forecasts and Analysis - By Technology
11.3.5. Asia Pacific Market Forecasts and Analysis - By Enterprise Size
11.3.6. Asia Pacific Market Forecasts and Analysis - By Industry
11.3.7. Asia Pacific Market Forecasts and Analysis - By Countries
11.3.7.1. South Korea
11.3.7.1.1. South Korea Market by Component
11.3.7.1.2. South Korea Market by Technology
11.3.7.1.3. South Korea Market by Enterprise Size
11.3.7.1.4. South Korea Market by Industry
11.3.7.2. China market
11.3.7.2.1. China Market by Component
11.3.7.2.2. China Market by Technology
11.3.7.2.3. China Market by Enterprise Size
11.3.7.2.4. China Market by Industry
11.3.7.3. India market
11.3.7.3.1. India Market by Component
11.3.7.3.2. India Market by Technology
11.3.7.3.3. India Market by Enterprise Size
11.3.7.3.4. India Market by Industry
11.3.7.4. Japan market
11.3.7.4.1. Japan Market by Component
11.3.7.4.2. Japan Market by Technology
11.3.7.4.3. Japan Market by Enterprise Size
11.3.7.4.4. Japan Market by Industry
11.3.7.5. Australia market
11.3.7.5.1. Australia Market by Component
11.3.7.5.2. Australia Market by Technology
11.3.7.5.3. Australia Market by Enterprise Size
11.3.7.5.4. Australia Market by Industry
11.3.7.6. Rest of APAC market
11.3.7.6.1. Rest of APAC Market by Component
11.3.7.6.2. Rest of APAC Market by Technology
11.3.7.6.3. Rest of APAC Market by Enterprise Size
11.3.7.6.4. Rest of APAC Market by Industry
11.4. MIDDLE EAST AND AFRICA (MEA)
11.4.1. Middle East and Africa Product Information Management Market Overview
11.4.2. Middle East and Africa Product Information Management Market Forecasts and Analysis
11.4.3. Middle East and Africa Market Forecasts and Analysis - By Component
11.4.4. Middle East and Africa Market Forecasts and Analysis - By Technology
11.4.5. Middle East and Africa Market Forecasts and Analysis - By Enterprise Size
11.4.6. Middle East and Africa Market Forecasts and Analysis - By Industry
11.4.7. Middle East and Africa Market Forecasts and Analysis - By Countries
11.4.7.1. South Africa market
11.4.7.1.1. South Africa Market by Component
11.4.7.1.2. South Africa Market by Technology
11.4.7.1.3. South Africa Market by Enterprise Size
11.4.7.1.4. South Africa Market by Industry
11.4.7.2. Saudi Arabia market
11.4.7.2.1. Saudi Arabia Market by Component
11.4.7.2.2. Saudi Arabia Market by Technology
11.4.7.2.3. Saudi Arabia Market by Enterprise Size
11.4.7.2.4. Saudi Arabia Market by Industry
11.4.7.3. UAE market
11.4.7.3.1. UAE Market by Component
11.4.7.3.2. UAE Market by Technology
11.4.7.3.3. UAE Market by Enterprise Size
11.4.7.3.4. UAE Market by Industry
11.4.7.4. Rest of MEA market
11.4.7.4.1. Rest of MEA Market by Component
11.4.7.4.2. Rest of MEA Market by Technology
11.4.7.4.3. Rest of MEA Market by Enterprise Size
11.4.7.4.4. Rest of MEA Market by Industry
11.5. SOUTH AMERICA (SAM)
11.5.1. South America Product Information Management Market Overview
11.5.2. South America Product Information Management Market Forecasts and Analysis
11.5.3. South America Market Forecasts and Analysis - By Component
11.5.4. South America Market Forecasts and Analysis - By Technology
11.5.5. South America Market Forecasts and Analysis - By Enterprise Size
11.5.6. South America Market Forecasts and Analysis - By Industry
11.5.7. South America Market Forecasts and Analysis - By Countries
11.5.7.1. Brazil market
11.5.7.1.1. Brazil Market By Component
11.5.7.1.2. Brazil Market by Technology
11.5.7.1.3. Brazil Market by Enterprise Size
11.5.7.1.4. Brazil Market by Industry
11.5.7.2. Argentina market
11.5.7.2.1. Argentina Market By Component
11.5.7.2.2. Argentina Market by Technology
11.5.7.2.3. Argentina Market by Enterprise Size
11.5.7.2.4. Argentina Market by Industry
11.5.7.3. Rest of SAM market
11.5.7.3.1. Rest of SAM Market By Component
11.5.7.3.2. Rest of SAM Market by Technology
11.5.7.3.3. Rest of SAM Market by Enterprise Size
11.5.7.3.4. Rest of SAM Market by Industry
12. INDUSTRY LANDSCAPE
12.1. MERGERS & ACQUISITIONS
12.2. MARKET INITIATIVES
12.3. NEW DEVELOPMENTS
13. PRODUCT INFORMATION MANAGEMENT MARKET, KEY COMPANY PROFILES
13.1. ADAM SOFTWARE NV
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products & Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. AGILITY MULTICHANNEL
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products & Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. IBM CORPORATION
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products & Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. INFORMATICA
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products & Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. ORACLE CORPORATION
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products & Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. PIMCORE
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products & Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. RIVERSAND TECHNOLOGIES, INC.
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products & Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. RIVERSAND TECHNOLOGIES, INC
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products & Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. SAP SE
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products & Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. STIBO SYSTEMS
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products & Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List of Companies
1. Adam Software NV
2. Agility Multichannel
3. IBM Corporation
4. Informatica
5. Inriver, Inc.
6. Oracle Corporation
7. Pimcore
8. Riversand Technologies,Inc.
9. SAP SE
10. Stibo Systems
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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