Automotive Semiconductor Market

Automotive Semiconductor Market Size by Vehicle Type (Passenger Car, Heavy Commercial Vehicle (HCV), and Light Commercial Vehicle (LCV)), Component (Analog I.C., Processor, Discrete Power Device, Memory Device, Sensor, and Lighting Device), Application (Safety, Powertrain, Body Electronics, Telematics and Infotainment and Chassis), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-12617
  • Published Date: Nov, 2021
  • Pages: 236
  • Category: Automotive & Transportation
  • Format: PDF
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The global automotive semiconductor market was valued at USD 64.58 Billion in 2022 and grew at a CAGR of 18.26% from 2023 to 2032. The market is expected to reach USD 345.54 Billion by 2032. The growth of the automotive semiconductor market can be attributed to the rise in demand for electric and hybrid vehicles.

Market Introduction:

Most vehicle development breakthroughs are made through advanced semiconductors, which are responsible for the stimulus for economic consumers and growing demand. The new edge electric automobile has head-up displays, automated driving comfort, assistance, and performance. The demand for automotive semiconductors tends to increase as vehicles become more complex progressively. Almost all major automakers are creating electronic vehicles responsible for sophisticated electronics to increase the vehicle's range, control rapid charging, etc. This has led to high demand for semiconductors in automotive applications.

Automotive Semiconductor Market Size

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Recent Development
  • In May 2022, a significant player, Continental, launched two sensors which are objected to be used in electric vehicles. The new sensors can be used in the battery impact detection system and the current sensor module.

Market Dynamics:

Drivers

Enables functioning of automotive components: There are different semiconductors which are used in automotive applications, such as ignition systems, security systems, speed controls, alignment controls, tachometer pickups, mechanical limit switches, position detectors, rotary encoders, etc. The modern semiconductors used in the automotive industry are highly complex and are required to fulfil the increasing demand for electric vehicles. Automotive semiconductors can be used to safeguard anything in a utility substation. In the automotive business, the uses of automotive semiconductors are known for their cost-effective performance improvement. As a result of their connection with mobile devices, electric vehicles today are essentially big Internet of Things (IoT) devices. Sensors make Full autonomy in vehicles possible, which calls for cutting-edge technology and processing.

Restraints:

Fluctuating cost: The fluctuation in the price of components used for manufacturing automotive semiconductors impacts the industry. The impact on operations could lead to fluctuation in production and the market's profit margin. The gap in demand and supply is responsible for the fluctuation in the cost of components. Thus the fluctuation in the price of components is a restraint for the market.

Opportunities:

Growth of the electrical and automobile industry: The automotive semiconductor market is operating globally via the key regions: North America, South America, Asia Pacific, Europe and the Middle East and Africa. Among the regions, Asia-Pacific, followed by North America and Europe, will gain tremendous market share due to the expansion of the electric automobile industry. This can be attributed to increased urbanization and rising per-capita income. The consumers of the mentioned regions are getting increasingly investing in electric vehicles. The growing per capita income of the people in developed and developing countries has led to a change in the lifestyle of the people. They prefer products that enhance their work and living standards. This trend has led to a growing demand for personal vehicles. With the increased demand for personal vehicles, companies are expanding their portfolio and providing advanced devices. The automotive semiconductor has recently been paired with complicated components to enable a reduction in voltage fluctuation, which is ideal for today's ever-smaller power electronics. Smaller package sizes have been popular for years. Still, they are becoming much more widespread due to mass production and comprehensive band-gap technologies designed for the power electronics sector. This factor is leading to higher demand for the automotive semiconductor market.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the most significant Automotive Semiconductor market, with a 37.21% market revenue share in 2022.

Asia Pacific region will account for the largest market share with revenue growth. Nations such as Japan, China, India and South Korea are the key manufacturing base for producing automotive semiconductors. The high investment in research and development of power electronics will lead to a substantial growth rate in the market. Further, increasing per capita income is leading to growth in demand for electric and hybrid vehicles in the region.

Asia Pacific region Automotive Semiconductor Market Share in 2022 - 37.21%

 

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Vehicle Type Segment Analysis

The vehicle type segment is divided into passenger cars, heavy commercial vehicles (HCV) and light commercial vehicles (LCV). The passenger car segment dominated the market, with a share of around 49.21% in 2022. The use of semiconductors in personal vehicles has increased in the recent decade due to advanced automation technologies development. It helps to constantly monitor the body movement of vehicles. Passenger car manufacturers are deploying advanced semiconductors due to the increased demand from high-income consumers.

Component Segment Analysis

The component segment is divided into an analogue IC, processor, discrete power device, memory device, sensor and lighting devices. The processor segment dominated the market, with a share of around 31.83% in 2022. Processors are vital in the manufacturing of electric and hybrid vehicles. The processors are used in navigation systems and safety analytics of vehicles.

Application Segment Analysis

The application segment is divided into safety, powertrain, body electronics, telematics and infotainment, and chassis. The safety segment dominated the market, with a share of around 34.22% in 2022. Manufacturers are equipping vehicles with safety electronics that help the driver maintain lane discipline, check for obstacles when reversing, and eventually give full autonomy when the driver is not required to operate the vehicle.

Some of the Key Market Players:
  • Analog Devices Inc.
  • Entegris
  • GEO Semiconductor, Inc.
  • Indie Semiconductor
  • Infineon Technologies AG
  • Intel Corporation
  • Lattice Semiconductor
  • Microchip Technology Inc.
  • NVidia Corporation
  • ON Semiconductor Corp.
  • Renesas Electronics Corp.
  • Robert Bosch GmbH
  • ROHM Co., Ltd.
  • Sanmina
  • Semtech
  • STMicroelectronics N.V.
  • Texas Instruments, Inc.
  • Toshiba Corp.
  • Wafer Space

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 64.58 Billion
Market size value in 2032 USD 345.54 Billion
CAGR (2023 to 2032) 18.26%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Vehicle Type, Component and Application

Frequesntly Asked Questions

As per The Brainy Insights, the size of the automotive semiconductor market was valued 64.58 billion in 2022 to USD 345.54 Billion by 2032.

Global automotive semiconductor market is growing at a CAGR of 18.26% during the forecast period 2023-2032.

Asia Pacific region emerged as the largest market for the automotive semiconductor.

The market's growth will be influenced by the high usage of automotive semiconductor.

The increasing investment in automotive industry is providing huge opportunities to the market.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Vehicle Type
          4.3.2. Market Attractiveness Analysis By Components
          4.3.3. Market Attractiveness Analysis By Application
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing usage of automotive semiconductor
    5.3. Restraints
          5.3.1. Fluctuating cost of components
    5.4. Opportunities
          5.4.1. Increasing growth of electric vehicles
    5.5. Challenges
          5.5.1. Cyber security risks

6. Global Automotive Semiconductor Market Analysis and Forecast, By Vehicle Type
    6.1. Segment Overview
    6.2. Passenger Car
    6.3. Heavy Commercial Vehicle (HCV)
    6.4. Light Commercial Vehicle (LCV)

7. Global Automotive Semiconductor Market Analysis and Forecast, By Components
    7.1. Segment Overview
    7.2. Analog IC
    7.3. Processor
    7.4. Discrete Power Device
    7.5. Memory Device
    7.6. Sensor
    7.7. Lighting Device

8. Global Automotive Semiconductor Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Safety
    8.3. Powertrain
    8.4. Body Electronics
    8.5. Telematics and Infotainment
    8.6. Chassis

9. Global Automotive Semiconductor Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Automotive Semiconductor Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Automotive Semiconductor Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Analog Devices Inc.
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Entegris
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. GEO Semiconductor, Inc.
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Indie Semiconductor
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Infineon Technologies AG
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Intel Corporation
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Lattice Semiconductor
          1.1.1. Business Overview
          1.1.2. Company Snapshot
          1.1.3. Company Market Share Analysis
          1.1.4. Company Product Portfolio
          1.1.5. Recent Developments
          1.1.6. SWOT Analysis
    11.8. Microchip Technology Inc.
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. NVidia Corporation
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. ON Semiconductor Corp.
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. Renesas Electronics Corp.
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Robert Bosch GmbH
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis
    11.13. ROHM Co., Ltd.
          11.13.1. Business Overview
          11.13.2. Company Snapshot
          11.13.3. Company Market Share Analysis
          11.13.4. Company Product Portfolio
          11.13.5. Recent Developments
          11.13.6. SWOT Analysis
    11.14. Sanmina
          11.14.1. Business Overview
          11.14.2. Company Snapshot
          11.14.3. Company Market Share Analysis
          11.14.4. Company Product Portfolio
          11.14.5. Recent Developments
          11.14.6. SWOT Analysis
    11.15. Semtech
          11.15.1. Business Overview
          11.15.2. Company Snapshot
          11.15.3. Company Market Share Analysis
          11.15.4. Company Product Portfolio
          11.15.5. Recent Developments
          11.15.6. SWOT Analysis
    11.16. STMicroelectronics N.V.
          11.16.1. Business Overview
          11.16.2. Company Snapshot
          11.16.3. Company Market Share Analysis
          11.16.4. Company Product Portfolio
          11.16.5. Recent Developments
          11.16.6. SWOT Analysis
    11.17. Texas Instruments, Inc.
          11.17.1. Business Overview
          11.17.2. Company Snapshot
          11.17.3. Company Market Share Analysis
          11.17.4. Company Product Portfolio
          11.17.5. Recent Developments
          11.17.6. SWOT Analysis
    11.18. Toshiba Corp
          11.18.1. Business Overview
          11.18.2. Company Snapshot
          11.18.3. Company Market Share Analysis
          11.18.4. Company Product Portfolio
          11.18.5. Recent Developments
          11.18.6. SWOT Analysis
    11.19. Wafer Space
          11.19.1. Business Overview
          11.19.2. Company Snapshot
          11.19.3. Company Market Share Analysis
          11.19.4. Company Product Portfolio
          11.19.5. Recent Developments
          11.19.6. SWOT Analysis
 

List of Table

1. Global Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

2. Global Passenger Cars, Automotive Semiconductor Market, By Region, 2019-2032 (USD Billion) 

3. Global Heavy Commercial Vehicle (HCV), Automotive Semiconductor Market, By Region, 2019-2032 (USD Billion) 

4. Global Light Commercial Vehicle (LCV), Automotive Semiconductor Market, By Region, 2019-2032 (USD Billion) 

5. Global Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion) 

6. Global Analog IC, Automotive Semiconductor Market, By Region, 2019-2032 (USD Billion) 

7. Global Processor, Automotive Semiconductor Market, By Region, 2019-2032 (USD Billion) 

8. Global Discrete Power Device, Automotive Semiconductor Market, By Region, 2019-2032 (USD Billion) 

9. Global Memory Device, Automotive Semiconductor Market, By Region, 2019-2032 (USD Billion) 

10. Global Sensor, Automotive Semiconductor Market, By Region, 2019-2032 (USD Billion) 

11. Global Lighting Device, Automotive Semiconductor Market, By Region, 2019-2032 (USD Billion) 

12. Global Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion) 

13. Global Safety, Automotive Semiconductor Market, By Region, 2019-2032 (USD Billion) 

14. Global Powertrain, Automotive Semiconductor Market, By Region, 2019-2032 (USD Billion) 

15. Global Body Electronics, Automotive Semiconductor Market, By Region, 2019-2032 (USD Billion) 

16. Global Telematics and Infotainment, Automotive Semiconductor Market, By Region, 2019-2032 (USD Billion) 

17. Global Chassis, Automotive Semiconductor Market, By Region, 2019-2032 (USD Billion) 

18. Global Automotive Semiconductor Market, By Region, 2019-2032 (USD Billion) 

19. North America Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

20. North America Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion) 

21. North America Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion)

22. U.S. Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

23. U.S. Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion) 

24. U.S. Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion) 

25. Canada Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

26. Canada Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion) 

27. Canada Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion) 

28. Mexico Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

29. Mexico Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion)

30. Mexico Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion) 

31. Europe Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

32. Europe Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion)

33. Europe Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion)

34. Germany Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

35. Germany Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion) 

36. Germany Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion) 

37. France Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

38. France Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion)

39. France Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion) 

40. U.K. Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

41. U.K. Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion)

42. U.K. Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion) 

43. Italy Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

44. Italy Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion)

45. Italy Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion) 

46. Spain Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

47. Spain Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion) 

48. Spain Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion) 

49. Asia Pacific Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

50. Asia Pacific Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion) 

51. Asia Pacific Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion) 

52. Japan Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

53. Japan Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion)

54. Japan Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion)

55. China Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

56. China Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion)

57. China Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion) 

58. India Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

59. India Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion) 

60. India Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion) 

61. South America Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

62. South America Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion) 

63. South America Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion) 

64. Brazil Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

65. Brazil Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion) 

66. Brazil Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion) 

67. Middle East and Africa Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

68. Middle East and Africa Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion)

69. Middle East and Africa Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion) 

70. UAE Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

71. UAE Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion)

72. UAE Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion) 

73. South Africa Automotive Semiconductor Market, By Vehicle Type, 2019-2032 (USD Billion) 

74. South Africa Automotive Semiconductor Market, By Components, 2019-2032 (USD Billion) 

75. South Africa Automotive Semiconductor Market, By Application, 2019-2032 (USD Billion) 

List of Figures 

1. Global Automotive Semiconductor Market Segmentation

2. Automotive Semiconductor Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Automotive Semiconductor Market Attractiveness Analysis By Vehicle Type

9. Global Automotive Semiconductor Market Attractiveness Analysis By Components

10. Global Automotive Semiconductor Market Attractiveness Analysis By Application

11. Global Automotive Semiconductor Market Attractiveness Analysis By Region

12. Global Automotive Semiconductor Market: Dynamics

13. Global Automotive Semiconductor Market Share By Vehicle Type (2022 & 2032)

14. Global Automotive Semiconductor Market Share by Components (2022 & 2032)

15. Global Automotive Semiconductor Market Share by Application (2022 & 2032)

16. Global Automotive Semiconductor Market Share by Regions (2022 & 2032)

17. Global Automotive Semiconductor Market Share by Company (2022)

This study forecasts revenue at global, regional, and country levels from 2023 to 2032. The Brainy Insights has segmented the global automotive semiconductor market based on below-mentioned segments:

Global Automotive Semiconductor Market by Type:

  • Passenger Car
  • Heavy Commercial Vehicle (HCV)
  • Light Commercial Vehicle (LCV)

Global Automotive Semiconductor Market by Component:

  • Analog IC
  • Processor
  • Discrete Power Device
  • Memory Device
  • Sensor
  • Lighting Device

Global Automotive Semiconductor Market by application:

  • Safety
  • Powertrain
  • Body Electronics
  • Telematics and infotainment
  • Chassis

Global Automotive Semiconductor Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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