Infrared Sensors Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2023 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0211711
  • Format: Electronic (PDF)
  • Number of Pages: 180
  • Author(s): Joshi, Madhavi

Report Overview

The Infrared Sensors Market size was estimated at USD 3.8 billion in 2023 and is projected to reach USD 7.2 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.80% during the forecast period (2024-2030).

Infrared Sensors Market

(Market Size)
$3.8 billion
$7.2 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 9.80%
2023 Market Size USD 3.8 billion
2030 Market Size USD 7.2 billion
Key Players Honeywell, Texas Instruments, STMicroelectronics, Omron, TE Connectivity

Market Summary

The infrared sensors market is a critical segment within the semiconductor and electronics industry, characterized by its widespread adoption across numerous sectors due to its non-contact sensing capabilities. These sensors detect infrared radiation emitted by objects, enabling temperature measurement, motion detection, and imaging without physical interaction. The market is driven by advancements in sensor technology, including miniaturization, enhanced sensitivity, and integration with Internet of Things (IoT) ecosystems. Key industries utilizing infrared sensors include automotive, aerospace and defense, healthcare, industrial manufacturing, and consumer electronics. The demand for efficient and reliable sensing solutions continues to grow, supported by trends such as automation, smart home devices, and enhanced security systems. Companies operating in this space focus on innovation to meet evolving requirements for accuracy, power efficiency, and cost-effectiveness. The competitive landscape is dynamic, with both established players and emerging entrants striving to capture market share through product development and strategic partnerships.

Key Highlights

The infrared sensors market showcases several key highlights that underscore its significance and growth trajectory. Technological innovations have led to the development of advanced sensors with higher resolution, faster response times, and reduced power consumption, making them suitable for a broader range of applications. The integration of artificial intelligence and machine learning with infrared sensing enhances data analysis and decision-making processes in various systems. Additionally, the rise of autonomous vehicles and advanced driver-assistance systems (ADAS) has propelled the demand for infrared sensors for night vision and pedestrian detection. In the healthcare sector, these sensors are vital for non-invasive temperature monitoring and medical imaging. The market also benefits from increasing investments in smart city initiatives, where infrared sensors contribute to traffic management, surveillance, and environmental monitoring. Furthermore, the trend towards miniaturization allows for compact sensor designs, facilitating their incorporation into portable and wearable devices.

Drivers, Opportunities & Restraints

Several drivers propel the infrared sensors market forward, including the escalating demand for automation across industries, which necessitates reliable sensing solutions for process control and safety. The expansion of the IoT ecosystem creates opportunities for infrared sensors in connected devices, enabling real-time monitoring and data collection. The automotive industry's shift towards electric and autonomous vehicles further drives adoption, as infrared sensors enhance safety features like collision avoidance and driver monitoring. Opportunities abound in emerging applications such as agricultural technology, where sensors monitor crop health, and in consumer electronics for gesture recognition and proximity sensing. However, the market faces restraints, including high manufacturing costs associated with advanced materials and complex fabrication processes. Technical challenges related to sensitivity in adverse environmental conditions, such as fog or rain, can limit effectiveness. Additionally, stringent regulatory standards and certification requirements in sectors like healthcare and aerospace may slow down product launches and increase compliance costs.

Concentration Insights

The infrared sensors market exhibits a concentrated competitive landscape with a mix of large multinational corporations and specialized firms dominating key segments. Major players such as Teledyne Technologies, FLIR Systems, and Omron Corporation hold significant market shares due to their extensive product portfolios, strong R&D capabilities, and global distribution networks. These companies often engage in strategic acquisitions and partnerships to expand their technological expertise and market reach. Regional concentration is notable, with North America and Asia-Pacific being hubs for innovation and manufacturing, driven by robust electronics industries and government investments in defense and technology. Small and medium-sized enterprises focus on niche applications, offering customized solutions to cater to specific industry needs. The market's concentration is influenced by intellectual property holdings, with patents playing a crucial role in maintaining competitive advantages. Collaboration between academia and industry also fosters innovation, leading to breakthroughs in sensor design and functionality.

Type Insights

Infrared sensors are categorized into various types based on their technology and functionality, each serving distinct applications. Thermal infrared sensors detect heat emitted by objects and are widely used in temperature measurement and night vision systems. These sensors operate without requiring external illumination, making them energy-efficient. Photonic infrared sensors, on the other hand, rely on photon detection and offer higher sensitivity and faster response times, suitable for applications like spectroscopy and gas analysis. Within these categories, subtypes include pyroelectric sensors for motion detection, thermopile sensors for non-contact temperature sensing, and microbolometers for thermal imaging. Emerging types incorporate quantum dot technology and nanomaterials to enhance performance metrics such as detection range and resolution. The choice of sensor type depends on factors like accuracy requirements, environmental conditions, and cost constraints, driving continuous innovation to improve efficacy and affordability.

Application Insights

The application spectrum for infrared sensors is vast and diverse, spanning multiple industries. In the automotive sector, they are integral to ADAS for features like lane departure warning and adaptive cruise control, enhancing vehicle safety. The aerospace and defense industry utilizes these sensors for surveillance, targeting systems, and night vision equipment, ensuring operational superiority. Healthcare applications include fever screening devices, pulse oximeters, and thermal imaging for diagnostic purposes, which gained prominence during health crises. Industrial manufacturing employs infrared sensors for predictive maintenance, quality control, and process monitoring to optimize efficiency and reduce downtime. Consumer electronics incorporate them in smart home devices for security alarms, temperature regulation, and touchless interfaces. Additionally, environmental monitoring uses infrared sensors to detect pollutants and monitor climate conditions, supporting sustainability efforts. Each application demands specific sensor characteristics, driving tailored developments to meet sector-specific challenges.

Regional Insights

Regionally, the infrared sensors market demonstrates varied growth patterns influenced by economic conditions, technological adoption, and industrial focus. North America remains a dominant region, propelled by strong defense expenditures, advanced healthcare infrastructure, and a thriving automotive industry focused on innovation. The presence of key market players and research institutions fosters continuous advancements in sensor technology. Asia-Pacific is rapidly expanding, driven by countries like China, Japan, and South Korea, which are hubs for electronics manufacturing and automotive production. Government initiatives promoting smart cities and industrial automation further boost demand. Europe holds a significant share, with emphasis on automotive safety standards and environmental regulations, encouraging the adoption of infrared sensors in compliance and innovation. Emerging regions in Latin America and the Middle East are gradually increasing uptake, supported by investments in infrastructure and security, though at a slower pace compared to developed markets.

Company Insights

Prominent companies in the infrared sensors market include Teledyne Technologies, known for its high-performance imaging solutions; FLIR Systems, a leader in thermal vision products; and Omron Corporation, which offers a range of sensing components for industrial and consumer applications. Other key players comprise Honeywell International, specializing in aerospace and building technologies; Raytheon Technologies, with strong capabilities in defense systems; and STMicroelectronics, providing semiconductor-based sensors. These companies invest heavily in research and development to enhance product features such as sensitivity, integration, and power efficiency. Strategies often involve mergers and acquisitions to broaden technological portfolios and geographic reach. For instance, acquisitions of smaller firms with niche expertise allow larger entities to innovate rapidly. Collaboration with end-users ensures that products meet practical requirements, maintaining competitiveness in a fast-evolving market.

Recent Developments

Recent developments in the infrared sensors market highlight ongoing innovation and strategic movements. Companies have introduced sensors with improved resolution and lower power consumption, catering to the demand for compact and efficient devices in IoT applications. There has been a surge in partnerships between sensor manufacturers and software firms to integrate AI algorithms for enhanced data processing and analytics. In the automotive sector, advancements focus on developing sensors that perform reliably in diverse weather conditions, supporting the progression towards fully autonomous vehicles. The healthcare industry has seen increased adoption of infrared thermometers and imaging systems for public health monitoring. Additionally, investments in expanding production capacities, particularly in Asia-Pacific, aim to meet growing demand. Regulatory approvals for new sensor applications in safety-critical industries also mark significant progress, enabling broader deployment and market expansion.

Report Segmentation

The infrared sensors market report is segmented to provide detailed analysis across various dimensions. Segmentation by type includes thermal infrared sensors, photonic infrared sensors, and subtypes such as pyroelectric and thermopile sensors, each analyzed for market trends and growth potential. Application segmentation covers automotive, aerospace and defense, healthcare, industrial, consumer electronics, and others, highlighting sector-specific demands and innovations. Geographically, the report divides the market into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, examining regional dynamics, key countries, and growth drivers. Further segmentation may consider technology parameters like wavelength range and detection mechanism, offering insights into technical advancements. This structured approach allows stakeholders to identify opportunities and challenges in specific segments, facilitating informed decision-making and strategic planning.

FAQs

What are the different types of infrared sensors? Infrared sensors are primarily classified into thermal sensors, which detect heat radiation, and photonic sensors, which rely on photon detection. Subtypes include pyroelectric sensors for motion detection, thermopile sensors for temperature measurement, and microbolometers for imaging applications.

How do infrared sensors work? Infrared sensors operate by detecting infrared radiation emitted by objects. Thermal sensors measure heat differences, while photonic sensors convert photons into electrical signals, enabling functions like temperature reading, motion sensing, and imaging without physical contact.

What are the key applications of infrared sensors? Key applications include automotive safety systems (e.g., night vision), healthcare devices (e.g., thermometers), industrial process control, consumer electronics (e.g., remote controls), and defense surveillance, leveraging their non-contact sensing capabilities.

Which industries use infrared sensors the most? The automotive, aerospace and defense, healthcare, and industrial manufacturing industries are major users, driven by needs for automation, safety, monitoring, and efficiency enhancements.

Who are the leading companies in the infrared sensors market? Leading companies include Teledyne Technologies, FLIR Systems, Omron Corporation, Honeywell International, Raytheon Technologies, and STMicroelectronics, known for their innovative products and global presence.

What regions dominate the infrared sensors market? North America and Asia-Pacific are dominant regions, with North America leading in technological innovation and defense applications, while Asia-Pacific excels in manufacturing and adoption due to its robust electronics and automotive sectors.

Citius Research has developed a research report titled “Infrared Sensors Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Infrared Sensors Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Infrared Sensors Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Infrared Sensors Market Segmentation

Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Infrared Sensors Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Infrared Sensors Market
• Research Methodology
• Executive Summary
• Market Dynamics of Infrared Sensors Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Infrared Sensors Market
• Cost and Gross Margin Analysis of Infrared Sensors Market
• Infrared Sensors Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Infrared Sensors Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Infrared Sensors Market Key Stakeholders

Below are the key stakeholders for the Infrared Sensors Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Infrared Sensors Market Report Scope

Report AttributeDetails
Base year2023
Historical data2018 – 2023
Forecast2024 - 2030
CAGR2024 - 2030
Quantitative UnitsValue (USD Million)
Report coverageRevenue Forecast, Competitive Landscape, Growth Factors, Trends and Strategies. Customized report options available on request
Segments coveredProduct type, technology, application, geography
Regions coveredNorth America, Latin America, Europe, MENA, Asia Pacific, Sub-Saharan Africa and Australasia
Countries coveredUS, UK, China, Japan, Germany, India, France, Brazil, Italy, Canada, Russia, South Korea, Australia, Spain, Mexico and others
Customization scopeAvailable on request
PricingVarious purchase options available as per your research needs. Discounts available on request

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Infrared Sensors Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Infrared Sensors Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Infrared Sensors Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Customize This Report

Frequently Asked Questions

The Global Infrared Sensors Market size was valued at $XX billion in 2023 and is anticipated to reach $XX billion by 2030 growing at a CAGR of XX%
The global Infrared Sensors Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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Table of Contents

Chapter 1. Introduction
  1.1. Market Scope
  1.2. Key Segmentations
  1.3. Research Objective
Chapter 2. Research Methodology & Assumptions
Chapter 3. Executive Summary
Chapter 4. Market Background
  4.1. Dynamics
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunity
    4.1.4. Challenges
  4.2. Key Trends in the Impacting the Market
    4.2.1. Demand & Supply
  4.3. Industry SWOT Analysis
  4.4. Porter’s Five Forces Analysis
  4.5. Value and Supply Chain Analysis
  4.6. Macro-Economic Factors
  4.7. COVID-19 Impact Analysis
    4.7.1. Global and Regional Assessment
  4.8. Profit Margin Analysis
  4.9. Trade Analysis
    4.9.1. Importing Countries
    4.9.2. Exporting Countries
  4.10. Market Entry Strategies
  4.11. Market Assessment (US$ Mn and Units)
Chapter 5. Global Infrared Sensors Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment A
  5.1. By Segment A, 2024 - 2030
    5.1.1. Sub-Segment A
    5.1.2. Sub-Segment B
  5.2. Opportunity Analysis
Chapter 6. Global Infrared Sensors Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment B
  6.1. By Segment B, 2024 - 2030
    6.1.1. Sub-Segment A
    6.1.2. Sub-Segment B
  6.2. Opportunity Analysis
Chapter 7. Global Infrared Sensors Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment C
  7.1. By Segment C, 2024 - 2030
    7.1.1. Sub-Segment A
    7.1.2. Sub-Segment B
  7.2. Opportunity Analysis
Chapter 8. Global Infrared Sensors Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Region
  8.1. By Region, 2024 - 2030
    8.1.1. North America
    8.1.2. Latin America
    8.1.3. Europe
    8.1.4. MENA
    8.1.5. Asia Pacific
    8.1.6. Sub-Saharan Africa
    8.1.7. Australasia
  8.2. Opportunity Analysis
Chapter 9. North America Infrared Sensors Market Forecast and Trend Analysis
  9.1. Regional Overview
  9.2. Pricing Analysis
  9.3. Key Trends in the Region
    9.3.1. Supply and Demand
  9.4. Demographic Structure
  9.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    9.5.1. Sub-Segment A
    9.5.2. Sub-Segment B
  9.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    9.6.1. Sub-Segment A
    9.6.2. Sub-Segment B
  9.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    9.7.1. Sub-Segment A
    9.7.2. Sub-Segment B
  9.8. By Country, 2024 - 2030, (US$ Mn and Units)
    9.8.1. U.S.
    9.8.2. Canada
    9.8.3. Rest of North America
  9.9. Opportunity Analysis
Chapter 10. Latin America Infrared Sensors Market Forecast and Trend Analysis
  10.1. Regional Overview
  10.2. Pricing Analysis
  10.3. Key Trends in the Region
    10.3.1. Supply and Demand
  10.4. Demographic Structure
  10.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    10.5.1. Sub-Segment A
    10.5.2. Sub-Segment B
  10.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    10.6.1. Sub-Segment A
    10.6.2. Sub-Segment B
  10.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    10.7.1. Sub-Segment A
    10.7.2. Sub-Segment B
  10.8. By Country, 2024 - 2030, (US$ Mn and Units)
    10.8.1. Brazil
    10.8.2. Argentina
    10.8.3. Rest of Latin America
  10.9. Opportunity Analysis
Chapter 11. Europe Infrared Sensors Market Forecast and Trend Analysis
  11.1. Regional Overview
  11.2. Pricing Analysis
  11.3. Key Trends in the Region
    11.3.1. Supply and Demand
  11.4. Demographic Structure
  11.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    11.5.1. Sub-Segment A
    11.5.2. Sub-Segment B
  11.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    11.6.1. Sub-Segment A
    11.6.2. Sub-Segment B
  11.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    11.7.1. Sub-Segment A
    11.7.2. Sub-Segment B
  11.8. By Country, 2024 - 2030, (US$ Mn and Units)
    11.8.1. UK
    11.8.2. Germany
    11.8.3. France
    11.8.4. Spain
    11.8.5. Rest of Europe
  11.9. Opportunity Analysis
Chapter 12. MENA Infrared Sensors Market Forecast and Trend Analysis
  12.1. Regional Overview
  12.2. Pricing Analysis
  12.3. Key Trends in the Region
    12.3.1. Supply and Demand
  12.4. Demographic Structure
  12.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    12.5.1. Sub-Segment A
    12.5.2. Sub-Segment B
  12.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    12.6.1. Sub-Segment A
    12.6.2. Sub-Segment B
  12.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    12.7.1. Sub-Segment A
    12.7.2. Sub-Segment B
  12.8. By Country, 2024 - 2030, (US$ Mn and Units)
    12.8.1. Egypt
    12.8.2. Algeria
    12.8.3. GCC
    12.8.4. Rest of MENA
  12.9. Opportunity Analysis
Chapter 13. Asia Pacific Infrared Sensors Market Forecast and Trend Analysis
  13.1. Regional Overview
  13.2. Pricing Analysis
  13.3. Key Trends in the Region
    13.3.1. Supply and Demand
  13.4. Demographic Structure
  13.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    13.5.1. Sub-Segment A
    13.5.2. Sub-Segment B
  13.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    13.6.1. Sub-Segment A
    13.6.2. Sub-Segment B
  13.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    13.7.1. Sub-Segment A
    13.7.2. Sub-Segment B
  13.8. By Country, 2024 - 2030, (US$ Mn and Units)
    13.8.1. India
    13.8.2. China
    13.8.3. Japan
    13.8.4. ASEAN
    13.8.5. Rest of Asia Pacific
  13.9. Opportunity Analysis
Chapter 14. Sub-Saharan Africa Infrared Sensors Market Forecast and Trend Analysis
  14.1. Regional Overview
  14.2. Pricing Analysis
  14.3. Key Trends in the Region
    14.3.1. Supply and Demand
  14.4. Demographic Structure
  14.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    14.5.1. Sub-Segment A
    14.5.2. Sub-Segment B
  14.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    14.6.1. Sub-Segment A
    14.6.2. Sub-Segment B
  14.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    14.7.1. Sub-Segment A
    14.7.2. Sub-Segment B
  14.8. By Country, 2024 - 2030, (US$ Mn and Units)
    14.8.1. Ethiopia
    14.8.2. Nigeria
    14.8.3. Rest of Sub-Saharan Africa
  14.9. Opportunity Analysis
Chapter 15. Australasia Infrared Sensors Market Forecast and Trend Analysis
  15.1. Regional Overview
  15.2. Pricing Analysis
  15.3. Key Trends in the Region
    15.3.1. Supply and Demand
  15.4. Demographic Structure
  15.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    15.5.1. Sub-Segment A
    15.5.2. Sub-Segment B
  15.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    15.6.1. Sub-Segment A
    15.6.2. Sub-Segment B
  15.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    15.7.1. Sub-Segment A
    15.7.2. Sub-Segment B
  15.8. By Country, 2024 - 2030, (US$ Mn and Units)
    15.8.1. Australia
    15.8.2. New Zealand
    15.8.3. Rest of Australasia
  15.9. Opportunity Analysis
Chapter 16. Competition Analysis
  16.1. Competitive Benchmarking
    16.1.1. Top Player’s Market Share
    16.1.2. Price and Product Comparison
  16.2. Company Profiles
    16.2.1. Company A
      16.2.1.1. Company Overview
      16.2.1.2. Segmental Revenue
      16.2.1.3. Product Portfolio
      16.2.1.4. Key Developments
      16.2.1.5. Strategic Outlook
    16.2.2. Company B
      16.2.2.1. Company Overview
      16.2.2.2. Segmental Revenue
      16.2.2.3. Product Portfolio
      16.2.2.4. Key Developments
      16.2.2.5. Strategic Outlook
    16.2.3. Company C
      16.2.3.1. Company Overview
      16.2.3.2. Segmental Revenue
      16.2.3.3. Product Portfolio
      16.2.3.4. Key Developments
      16.2.3.5. Strategic Outlook
    16.2.4. Company D
      16.2.4.1. Company Overview
      16.2.4.2. Segmental Revenue
      16.2.4.3. Product Portfolio
      16.2.4.4. Key Developments
      16.2.4.5. Strategic Outlook
    16.2.5. Company E
      16.2.5.1. Company Overview
      16.2.5.2. Segmental Revenue
      16.2.5.3. Product Portfolio
      16.2.5.4. Key Developments
      16.2.5.5. Strategic Outlook
    16.2.6. Company F
      16.2.6.1. Company Overview
      16.2.6.2. Segmental Revenue
      16.2.6.3. Product Portfolio
      16.2.6.4. Key Developments
      16.2.6.5. Strategic Outlook
    16.2.7. Company G
      16.2.7.1. Company Overview
      16.2.7.2. Segmental Revenue
      16.2.7.3. Product Portfolio
      16.2.7.4. Key Developments
      16.2.7.5. Strategic Outlook
    16.2.8. Company H
      16.2.8.1. Company Overview
      16.2.8.2. Segmental Revenue
      16.2.8.3. Product Portfolio
      16.2.8.4. Key Developments
      16.2.8.5. Strategic Outlook
    16.2.9. Company I
      16.2.9.1. Company Overview
      16.2.9.2. Segmental Revenue
      16.2.9.3. Product Portfolio
      16.2.9.4. Key Developments
      16.2.9.5. Strategic Outlook
    16.2.10. Company J
      16.2.10.1. Company Overview
      16.2.10.2. Segmental Revenue
      16.2.10.3. Product Portfolio
      16.2.10.4. Key Developments
      16.2.10.5. Strategic Outlook
Chapter 17. Go-To-Market Strategy

Research Methodology

We follow a robust research methodology to analyze the market in order to provide our clients with qualitative and quantitative analysis which has a very low or negligible deviance. Extensive secondary research supported by primary data collection methods help us to thoroughly understand and gauge the market. We incorporate both top-down and bottom-up approach for estimating the market. The below mentioned methods are then adopted to triangulate and validate the market.

Secondary data collection and interpretation

Secondary research includes sources such as published books, articles in journals, news media and published businesses, government and international body publications, and associations. Sources also include paid databases such as Hoovers, Thomson Reuters, Passport and others. Data derived through secondary sources is further validated through primary sources. The secondary sources also include major manufacturers mapped on the basis of revenues, product portfolios, and sales channels.

Primary data collection

Primary data collection methods include conducting interviews with industry experts and various stakeholders across the supply chain, such as raw material suppliers, manufacturers, product distributors and customers. The interviews are either telephonic or face-to-face, or even a combination of both. Prevailing trends in the industry are gathered by conducting surveys. Primary interviews also help us to understand the market drivers, restraints and opportunities, along with the challenges in the market. This method helps us in validating the data gathered through secondary sources, further triangulating the data and developing it through our statistical tools. We generally conduct interviews with -

  • CEOs, Directors, and VPs
  • Sales and Marketing Managers
  • Plant Heads and Manufacturing Department Heads
  • Product Specialists

Supply Side and Demand Side Data Collection

Supply side analysis is based on the data collected from the manufacturers and the product providers in terms of their segmental revenues. Secondary sources for this type of analysis include company annual reports and publications, associations and organisations, government publications and others.

Demand side analysis is based upon the consumer insights who are the end users of the particular product in question. They could be an individual user or an organisation. Such data is gathered through consumer surveys and focused group interviews.

Market Engineering

As a primary step, in order to develop the market numbers we follow a vigorous methodology that includes studying the parent market of the niche product and understanding the industry trends, acceptance among customers of the product, challenges, future growth, and others, followed by further breaking down the market under consideration into various segments and sub-markets. Additionally, in order to cross-validate the market, we also determine the top players in the market, along with their segmental revenues for the said market. Our secondary sources help us to validate the market share of the top players. Using both the qualitative and quantitative analysis of all the possible factors helps us determine the market numbers which are inclined towards accuracy.

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