Industrial Radiography Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0211699
  • Format: Electronic (PDF)
  • Number of Pages: 193
  • Author(s): Joshi, Madhavi

Report Overview

The Industrial Radiography Market size was estimated at USD 1.85 billion in 2023 and is projected to reach USD 3 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.40% during the forecast period (2024-2030).

Industrial Radiography Market

(Market Size)
$1.85 billion
$3 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 7.40%
2023 Market Size USD 1.85 billion
2030 Market Size USD 3 billion
Key Players GE Measurement & Control, YXLON International, Fujifilm Holdings, Comet Group, Bosello High Technology

Market Summary

The industrial radiography market within the semiconductor and electronics industry is a critical segment focused on non-destructive testing methods to ensure the integrity, quality, and reliability of electronic components and semiconductor devices. This market utilizes techniques such as X-ray and gamma radiography to inspect internal structures without causing damage, which is paramount in an industry where miniaturization and precision are key. The demand for high-performance and defect-free semiconductors and electronics drives the adoption of industrial radiography across manufacturing, quality control, and research and development phases. Companies leverage these technologies to detect flaws like cracks, voids, or misalignments in integrated circuits, printed circuit boards, and other electronic assemblies, thereby enhancing product lifespan and safety. As the electronics sector continues to evolve with advancements in IoT, AI, and 5G, the role of industrial radiography becomes increasingly vital in maintaining stringent quality standards and supporting innovation.

Key Highlights

Key highlights of the industrial radiography market in the semiconductor and electronics sector include the growing integration of digital radiography and computed tomography, which offer higher resolution and faster inspection times compared to traditional methods. The shift towards automation and Industry 4.0 has led to the development of robotic radiography systems that enhance efficiency and reduce human error. Additionally, there is a rising emphasis on portable and compact radiography equipment, catering to the need for on-site inspections in electronics manufacturing facilities. The market is also witnessing increased investment in R&D to improve imaging software and detection capabilities, enabling better analysis of complex semiconductor architectures. Furthermore, stringent regulatory standards and safety norms imposed by bodies like the International Electrotechnical Commission (IEC) and the American Society for Nondestructive Testing (ASNT) are pushing companies to adopt advanced radiography solutions to ensure compliance and avoid costly recalls.

Drivers, Opportunities & Restraints

Drivers propelling the industrial radiography market in the semiconductor and electronics industry include the relentless pursuit of miniaturization and higher functionality in electronic devices, which necessitates precise internal inspection to prevent failures. The expansion of the electric vehicle market and the proliferation of smart devices further fuel demand, as these applications require robust and reliable components. Opportunities abound in the development of AI-powered image analysis tools that can automate defect detection and reduce interpretation time, offering significant cost savings and scalability. The growth of emerging economies presents new markets for electronics manufacturing, thereby increasing the need for quality assurance technologies. However, restraints include high initial costs associated with advanced radiography systems, which may deter small and medium-sized enterprises. Additionally, concerns regarding radiation safety and the need for specialized trained personnel pose challenges, alongside regulatory hurdles that vary across regions, potentially slowing adoption rates.

Concentration Insights

The industrial radiography market for semiconductor and electronics is concentrated among key global players who dominate due to their technological expertise and extensive product portfolios. Leading companies such as Nikon Metrology, YXLON International, and North Star Imaging Inc. have a strong presence, offering a range of solutions from X-ray systems to digital detectors. These firms focus on innovation through R&D investments and strategic partnerships to enhance their market position. Geographically, concentration is high in regions with robust electronics manufacturing hubs, such as Asia-Pacific, where countries like China, South Korea, and Taiwan are major contributors. The market also sees participation from specialized players like Comet Group and VJ Technologies, who cater to niche segments within electronics inspection. This concentration fosters a competitive landscape driven by technological advancements, mergers, and acquisitions, as companies aim to expand their capabilities and geographic reach.

Type Insights

In terms of type, the industrial radiography market for semiconductor and electronics is segmented into X-ray radiography and gamma radiography, with X-ray systems being more prevalent due to their versatility and safety advantages. X-ray radiography offers high-resolution imaging suitable for inspecting delicate electronic components like microchips and PCBs, and it is often preferred for its ability to be controlled and adjusted easily. Digital radiography (DR) and computed radiography (CR) are gaining traction as they provide faster results and digital storage capabilities. Gamma radiography, while less common in electronics due to higher energy emissions, is used for thicker materials or in specific applications where portability is key. Additionally, neutron radiography is emerging for specialized inspections, though it remains a niche segment. The choice of type depends on factors such as material density, required penetration, and application specifics, with ongoing innovations focusing on enhancing image quality and reducing exposure times.

Application Insights

Application insights reveal that industrial radiography is extensively used in the semiconductor and electronics industry for quality control and failure analysis during manufacturing processes. Key applications include inspection of integrated circuits (ICs) for defects like wire bonding issues or die attachments, examination of printed circuit boards (PCBs) for soldering quality and layer alignment, and analysis of electronic assemblies in consumer devices, automotive electronics, and aerospace components. The technology is also crucial in research and development for prototyping new designs and materials, ensuring they meet performance standards before mass production. In the realm of packaging, radiography helps verify the integrity of semiconductor packages against moisture ingress or internal cracks. As electronics become more complex with 3D packaging and advanced materials, the application scope of industrial radiography expands, emphasizing its role in maintaining product reliability and accelerating time-to-market.

Regional Insights

Regional insights indicate that the Asia-Pacific region dominates the industrial radiography market for semiconductor and electronics, driven by the presence of major manufacturing hubs in countries like China, Japan, South Korea, and Taiwan. These nations are global leaders in electronics production, fostering high demand for quality inspection technologies. North America follows, with strong adoption in the United States due to advancements in aerospace, defense, and consumer electronics sectors, supported by stringent regulatory frameworks. Europe shows steady growth, particularly in Germany and the UK, where emphasis on automotive electronics and industrial automation boosts market prospects. Emerging regions such as Latin America and the Middle East are witnessing gradual uptake as local electronics manufacturing expands, though infrastructure and cost constraints may slow progress. Overall, regional dynamics are shaped by industrial base, technological adoption rates, and economic conditions influencing investment in non-destructive testing solutions.

Company Insights

Company insights highlight that key players in the industrial radiography market for semiconductor and electronics include Nikon Metrology, known for its high-precision X-ray and CT systems; YXLON International, offering a range of inspection solutions tailored for electronics; and North Star Imaging Inc., specializing in digital radiography and computed tomography. Other significant contributors are Comet Group, which provides X-ray sources and systems, and VJ Technologies, focused on customized inspection equipment. These companies invest heavily in R&D to develop advanced imaging technologies and software analytics, enhancing their competitive edge. Strategies such as partnerships with electronics manufacturers, acquisitions of smaller tech firms, and expansion into emerging markets are common. Additionally, companies like Shimadzu Corporation and Baker Hughes Digital Solutions play roles in providing integrated solutions, emphasizing the trend towards holistic quality assurance ecosystems in the electronics industry.

Recent Developments

Recent developments in the industrial radiography market for semiconductor and electronics include the launch of AI-integrated imaging systems that automate defect recognition and reduce inspection times, exemplified by new software updates from leading providers. There has been a surge in partnerships between radiography equipment manufacturers and electronics firms to co-develop tailored solutions for next-generation devices like 5G components and IoT sensors. Advances in portable and handheld radiography devices have been introduced, catering to the need for flexible inspection in production lines. Additionally, companies are focusing on enhancing radiation safety features to comply with stricter regulations, incorporating shielding and remote operation capabilities. Mergers and acquisitions have also been observed, such as larger firms acquiring specialized software companies to bolster their digital offerings, reflecting a broader industry shift towards smart, connected inspection technologies.

Report Segmentation

The report on the industrial radiography market for semiconductor and electronics is segmented to provide a comprehensive analysis across various dimensions. It includes segmentation by type, covering X-ray radiography, gamma radiography, and other emerging techniques like neutron radiography. Application segmentation delves into areas such as semiconductor inspection, PCB analysis, electronic assembly verification, and R&D applications. The report further breaks down the market by technology, distinguishing between film-based, computed, and digital radiography systems. Geographically, it is segmented into regions and key countries to highlight regional trends and opportunities. Additionally, the segmentation considers end-user industries, including consumer electronics, automotive, aerospace, and telecommunications, offering insights into specific demand drivers. This structured approach enables stakeholders to identify growth areas, understand competitive landscapes, and make informed decisions based on detailed, categorized data.

FAQs

What is industrial radiography used for in electronics? Industrial radiography is used for non-destructive testing to inspect internal structures of electronic components like semiconductors and PCBs, detecting defects such as cracks or soldering issues without damaging the parts.

How does industrial radiography work? It works by passing X-rays or gamma rays through an object and capturing the transmitted radiation on a detector, creating an image that reveals internal flaws or structures based on density variations.

What are the benefits of digital radiography in electronics? Digital radiography offers faster imaging, higher resolution, easier storage and sharing of images, and the ability to use software for enhanced analysis and automation compared to traditional methods.

Is industrial radiography safe for electronic components? Yes, when performed correctly with controlled radiation doses, it is safe and non-destructive, meaning it does not harm the components being inspected.

What industries use industrial radiography besides electronics? Besides electronics, it is widely used in aerospace, automotive, oil and gas, construction, and healthcare for quality assurance and failure analysis.

Can industrial radiography detect all types of defects in electronics? It is effective for many defects like voids, cracks, and misalignments, but may have limitations with very low-density materials or surface-only flaws, where other methods like ultrasonic testing might be complementary.

Citius Research has developed a research report titled “Industrial Radiography 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

• Industrial Radiography 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 Industrial Radiography 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.

Industrial Radiography Market Segmentation

Market Segmentation

Regions Covered

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

Industrial Radiography Market Analysis

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

• Overview of Industrial Radiography Market
• Research Methodology
• Executive Summary
• Market Dynamics of Industrial Radiography 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 Industrial Radiography Market
• Cost and Gross Margin Analysis of Industrial Radiography Market
• Industrial Radiography 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 “Industrial Radiography 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.

Industrial Radiography Market Key Stakeholders

Below are the key stakeholders for the Industrial Radiography Market:

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

Industrial Radiography 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 Industrial Radiography 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 Industrial Radiography 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 Industrial Radiography 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 Industrial Radiography 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 Industrial Radiography 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 Industrial Radiography 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 Industrial Radiography 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 Industrial Radiography 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 Industrial Radiography 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 Industrial Radiography 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 Industrial Radiography 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 Industrial Radiography 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 Industrial Radiography 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 Industrial Radiography 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 Industrial Radiography 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 Industrial Radiography 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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