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Global Cellular IoT Market Size By Segmentations, Top Key Players, Trend, Future Development & Forecast 2024-2035

  • PUBLISHED ON
  • 11/23/2022
  • NO OF PAGES
  • 269
  • CATEGORY
  • Information Technology

Market Overview:

Cellular IoT is a wireless communication technology that enables devices to communicate with each other using cellular networks. Unlike traditional IoT devices that rely on Wi-Fi or Bluetooth for communication, cellular IoT devices use cellular networks to send and receive data, making them more versatile and reliable. Cellular IoT technology is rapidly gaining popularity due to its ability to connect remote and mobile devices, making it suitable for a wide range of applications.

Cellular IoT offers wide coverage, making it possible to connect devices in remote and rural areas where other communication technologies may not be available. Cellular networks are designed to provide high reliability and uptime, ensuring that devices are always connected and can transmit data without interruption. Cellular networks offer a high level of security, making them ideal for applications that require secure data transmission, such as healthcare and financial services. Cellular IoT networks can easily scale up to accommodate large numbers of devices, making them suitable for applications such as smart cities and industrial IoT. The cost of cellular IoT devices and services is becoming more affordable, making it accessible to businesses of all sizes.

The adoption of cellular IoT is rapidly increasing, with a growing number of businesses and organizations recognizing its potential to transform their operations. The increasing availability and affordability of cellular IoT devices and services, as well as the growing demand for real-time data, are driving the adoption of cellular IoT. In addition, the deployment of 5G networks, which offer faster speeds and lower latency, is expected to accelerate the adoption of cellular IoT by enabling more data-intensive applications. Overall, Cellular IoT is a versatile and reliable communication technology that is rapidly gaining popularity due to its wide coverage, high reliability, and security. Its adoption is expected to continue to grow as more businesses and organizations recognize its potential to transform their operations and improve efficiency.

The increasing demand for real-time data and the deployment of 5G networks are the driving factors behind the growth of the cellular IoT market.

The increasing demand for real-time data is one of the primary driving factors behind the growth of the cellular IoT market. Many businesses and organizations require real-time data to make informed decisions, monitor their operations, and optimize their processes. Cellular IoT technology enables devices to transmit data in real-time, making it ideal for applications such as remote monitoring, predictive maintenance, and asset tracking. In addition, the deployment of 5G networks is expected to accelerate the adoption of cellular IoT. 5G networks offer faster speeds, lower latency, and greater capacity than previous cellular networks, enabling more data-intensive applications such as autonomous vehicles, smart cities, and industrial IoT. The increased speed and capacity of 5G networks also make it possible to connect more devices to the network, paving the way for the growth of the Internet of Things (IoT) ecosystem.

Segmentation:

By Component

·         Hardware

·         Software

·         Services

By Application

·         Retail

·         Energy

·         Healthcare

·         Agriculture

·         Manufacturing

·         Automotive & Transportation

·         Others

 

Geography:

The cellular IoT market is dominated by North America, followed by Europe and the Asia-Pacific region. North America accounts for the largest share of the market due to the region's advanced technological infrastructure, high adoption of IoT technologies, and the presence of major players in the market. The Europe region is also a significant contributor to the market, with a high concentration of industrial and automotive sectors that rely heavily on IoT technologies. The Asia-Pacific region is expected to experience significant growth in the cellular IoT market due to the region's large population, the increasing adoption of IoT technologies in various sectors, and the growing investments in smart city and industrial IoT projects.

Impact of COVID-19 on the global Cellular IoT Market:

The COVID-19 pandemic has had both positive and negative impacts on the cellular IoT market. On the one hand, the pandemic has accelerated the adoption of IoT technologies, including cellular IoT, as many businesses and organizations had to quickly adapt to remote work and digital solutions to maintain operations. This led to an increased demand for IoT devices and services, including cellular IoT, as companies sought to improve efficiency, reduce costs, and maintain business continuity. On the other hand, the pandemic also disrupted the supply chains and manufacturing operations of many cellular IoT providers, leading to delays in product launches and deployments. The economic slowdown caused by the pandemic also affected the purchasing power of many businesses, which may have impacted the demand for cellular IoT devices and services. However, despite the challenges posed by the pandemic, the cellular IoT market has continued to grow, driven by the increasing adoption of IoT technologies across various industries, the deployment of 5G networks, and the development of new applications and use cases for cellular IoT. As the world continues to recover from the pandemic, the demand for cellular IoT is expected to continue to grow, unlocking new opportunities and applications for businesses and organizations.

Impact of the Russia-Ukraine War on the global Cellular IoT Market:

The ongoing conflict between Russia and Ukraine may have a negative impact on the cellular IoT market. The conflict has the potential to disrupt the supply chains and manufacturing operations of cellular IoT providers, particularly those that rely on components or materials from the affected regions. The conflict may also lead to higher costs for these providers, as they may need to find alternative suppliers or sources for their materials. In addition, the conflict may cause uncertainty and instability in the market, which could affect the willingness of businesses and organizations to invest in cellular IoT technology. The political and economic instability caused by the conflict may lead to a reluctance to make long-term investments in the technology, which could slow down the growth of the market. Moreover, the conflict may also have an impact on the adoption of 5G networks in the affected regions, which could delay the deployment of cellular IoT solutions that rely on 5G networks. This could potentially affect the growth of the cellular IoT market in these regions. Overall, the impact of the Russia-Ukraine conflict on the cellular IoT market is uncertain and may depend on various factors, including the duration and severity of the conflict, the geographical scope of its impact, and the ability of cellular IoT providers to adapt to the changing circumstances.

Company Profiles:

·         Huawei Technologies Co. Ltd.

·         Ericsson AB

·         Nokia Corporation

·         Sierra Wireless, Inc.

·         Qualcomm Incorporated

·         Cisco Systems, Inc.

·         Gemalto NV

·         Intel Corporation

·         Telit Communications PLC

·         Thales Group

·         Deutsche Telekom AG

·         AT&T Inc.

·         Verizon Communications Inc.

·         Vodafone Group PLC

·         Orange SA


Global Cellular IoT Market: By Types
2G
3G
4G
LTE–M
NB–LTE–M
NB–IoT
5G

Global Cellular IoT Market: By Applications
Agriculture
Environmental Monitoring
Automotive & Transportation
Energy
HealthCare
Manufacturing
Retail
Smart City
Consumer Electronics

Global Cellular IoT Market: Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of various marketspaces. The key players in the markets are identified through secondary research, and their market contributions in different applications across regions and globally were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Analytics Market Research added before being presented in this report.

Reasons to Purchase Cellular IoT Market Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come

Frequently Asked Questions
• What is the market size and growth projections?
• What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
• What are the top performing segments, and countries / regions of each of the markets?
• What is the market size and growth rate across key countries / regions?
• How big is the global & regional market in terms of revenue and volume?
• How far market will grow in forecast period in terms of revenue and volume?
• What factors will influence demand and supply trends across each markets during the forecast period?
• What are the technology trends shaping various markets?
• Which country / region has more opportunities?
• What is the COVID-19 impact on the market and how long will it take to recover?
• Who are the key competitors of market Players?
• What are the market share (%) of Key Players?
• What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
• What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
Base Year: 2023
Historic Year: 2016-2022
Forecast: 2024-2035
1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Cellular IoT Market by Offering (Hardware and Software) Market Size Growth Rate by Type: 2016 VS 2021 VS 2030
1.2.2 2G
1.2.3 3G
1.2.4 4G
1.2.5 LTE–M
1.2.6 NB–LTE–M
1.2.7 NB–IoT
1.2.8 5G
1.3 Market by Application
1.3.1 Global Cellular IoT Market by Offering (Hardware and Software) Market Share by Application: 2016 VS 2021 VS 2030
1.3.2 Agriculture
1.3.3 Environmental Monitoring
1.3.4 Automotive & Transportation
1.3.5 Energy
1.3.6 HealthCare
1.3.7 Manufacturing
1.3.8 Retail
1.3.9 Smart City
1.3.10 Consumer Electronics
1.3.11 Others
1.4 Study Objectives
1.5 Years Considered

2 Global Growth Trends
2.1 Global Cellular IoT Market by Offering (Hardware and Software) Market Perspective (2016-2030)
2.2 Cellular IoT Market by Offering (Hardware and Software) Growth Trends by Regions
2.2.1 Cellular IoT Market by Offering (Hardware and Software) Market Size by Regions: 2016 VS 2021 VS 2030
2.2.2 Cellular IoT Market by Offering (Hardware and Software) Historic Market Share by Regions (2016-2021)
2.2.3 Cellular IoT Market by Offering (Hardware and Software) Forecasted Market Size by Regions (2022-2030)
2.3 Cellular IoT Market by Offering (Hardware and Software) Industry Dynamic
2.3.1 Cellular IoT Market by Offering (Hardware and Software) Market Trends
2.3.2 Cellular IoT Market by Offering (Hardware and Software) Market Drivers
2.3.3 Cellular IoT Market by Offering (Hardware and Software) Market Challenges
2.3.4 Cellular IoT Market by Offering (Hardware and Software) Market Restraints

3 Competition Landscape by Key Players
3.1 Global Top Cellular IoT Market by Offering (Hardware and Software) Players by Revenue
3.1.1 Global Top Cellular IoT Market by Offering (Hardware and Software) Players by Revenue (2016-2021)
3.1.2 Global Cellular IoT Market by Offering (Hardware and Software) Revenue Market Share by Players (2016-2021)
3.2 Global Cellular IoT Market by Offering (Hardware and Software) Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
3.3 Players Covered: Ranking by Cellular IoT Market by Offering (Hardware and Software) Revenue
3.4 Global Cellular IoT Market by Offering (Hardware and Software) Market Concentration Ratio
3.4.1 Global Cellular IoT Market by Offering (Hardware and Software) Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Cellular IoT Market by Offering (Hardware and Software) Revenue in 2020
3.5 Cellular IoT Market by Offering (Hardware and Software) Key Players Head office and Area Served
3.6 Key Players Cellular IoT Market by Offering (Hardware and Software) Product Solution and Service
3.7 Date of Enter into Cellular IoT Market by Offering (Hardware and Software) Market
3.8 Mergers & Acquisitions, Expansion Plans

4 Cellular IoT Market by Offering (Hardware and Software) Breakdown Data by Type
4.1 Global Cellular IoT Market by Offering (Hardware and Software) Historic Market Size by Type (2016-2021)
4.2 Global Cellular IoT Market by Offering (Hardware and Software) Forecasted Market Size by Type (2022-2030)

5 Cellular IoT Market by Offering (Hardware and Software) Breakdown Data by Application
5.1 Global Cellular IoT Market by Offering (Hardware and Software) Historic Market Size by Application (2016-2021)
5.2 Global Cellular IoT Market by Offering (Hardware and Software) Forecasted Market Size by Application (2022-2030)

6 North America
6.1 North America Cellular IoT Market by Offering (Hardware and Software) Market Size (2016-2030)
6.2 North America Cellular IoT Market by Offering (Hardware and Software) Market Size by Type
6.2.1 North America Cellular IoT Market by Offering (Hardware and Software) Market Size by Type (2016-2021)
6.2.2 North America Cellular IoT Market by Offering (Hardware and Software) Market Size by Type (2022-2030)
6.2.3 North America Cellular IoT Market by Offering (Hardware and Software) Market Size by Type (2016-2030)
6.3 North America Cellular IoT Market by Offering (Hardware and Software) Market Size by Application
6.3.1 North America Cellular IoT Market by Offering (Hardware and Software) Market Size by Application (2016-2021)
6.3.2 North America Cellular IoT Market by Offering (Hardware and Software) Market Size by Application (2022-2030)
6.3.3 North America Cellular IoT Market by Offering (Hardware and Software) Market Size by Application (2016-2030)
6.4 North America Cellular IoT Market by Offering (Hardware and Software) Market Size by Country
6.4.1 North America Cellular IoT Market by Offering (Hardware and Software) Market Size by Country (2016-2021)
6.4.2 North America Cellular IoT Market by Offering (Hardware and Software) Market Size by Country (2022-2030)
6.4.3 United States
6.4.3 Canada

7 Europe
7.1 Europe Cellular IoT Market by Offering (Hardware and Software) Market Size (2016-2030)
7.2 Europe Cellular IoT Market by Offering (Hardware and Software) Market Size by Type
7.2.1 Europe Cellular IoT Market by Offering (Hardware and Software) Market Size by Type (2016-2021)
7.2.2 Europe Cellular IoT Market by Offering (Hardware and Software) Market Size by Type (2022-2030)
7.2.3 Europe Cellular IoT Market by Offering (Hardware and Software) Market Size by Type (2016-2030)
7.3 Europe Cellular IoT Market by Offering (Hardware and Software) Market Size by Application
7.3.1 Europe Cellular IoT Market by Offering (Hardware and Software) Market Size by Application (2016-2021)
7.3.2 Europe Cellular IoT Market by Offering (Hardware and Software) Market Size by Application (2022-2030)
7.3.3 Europe Cellular IoT Market by Offering (Hardware and Software) Market Size by Application (2016-2030)
7.4 Europe Cellular IoT Market by Offering (Hardware and Software) Market Size by Country
7.4.1 Europe Cellular IoT Market by Offering (Hardware and Software) Market Size by Country (2016-2021)
7.4.2 Europe Cellular IoT Market by Offering (Hardware and Software) Market Size by Country (2022-2030)
7.4.3 Germany
7.4.4 France
7.4.5 U.K.
7.4.6 Italy
7.4.7 Russia
7.4.8 Nordic

8 Asia-Pacific
8.1 Asia-Pacific Cellular IoT Market by Offering (Hardware and Software) Market Size (2016-2030)
8.2 Asia-Pacific Cellular IoT Market by Offering (Hardware and Software) Market Size by Type
8.2.1 Asia-Pacific Cellular IoT Market by Offering (Hardware and Software) Market Size by Type (2016-2021)
8.2.2 Asia-Pacific Cellular IoT Market by Offering (Hardware and Software) Market Size by Type (2022-2030)
8.2.3 Asia-Pacific Cellular IoT Market by Offering (Hardware and Software) Market Size by Type (2016-2030)
8.3 Asia-Pacific Cellular IoT Market by Offering (Hardware and Software) Market Size by Application
8.3.1 Asia-Pacific Cellular IoT Market by Offering (Hardware and Software) Market Size by Application (2016-2021)
8.3.2 Asia-Pacific Cellular IoT Market by Offering (Hardware and Software) Market Size by Application (2022-2030)
8.3.3 Asia-Pacific Cellular IoT Market by Offering (Hardware and Software) Market Size by Application (2016-2030)
8.4 Asia-Pacific Cellular IoT Market by Offering (Hardware and Software) Market Size by Region
8.4.1 Asia-Pacific Cellular IoT Market by Offering (Hardware and Software) Market Size by Region (2016-2021)
8.4.2 Asia-Pacific Cellular IoT Market by Offering (Hardware and Software) Market Size by Region (2022-2030)
8.4.3 China
8.4.4 Japan
8.4.5 South Korea
8.4.6 Southeast Asia
8.4.7 India
8.4.8 Australia

9 Latin America
9.1 Latin America Cellular IoT Market by Offering (Hardware and Software) Market Size (2016-2030)
9.2 Latin America Cellular IoT Market by Offering (Hardware and Software) Market Size by Type
9.2.1 Latin America Cellular IoT Market by Offering (Hardware and Software) Market Size by Type (2016-2021)
9.2.2 Latin America Cellular IoT Market by Offering (Hardware and Software) Market Size by Type (2022-2030)
9.2.3 Latin America Cellular IoT Market by Offering (Hardware and Software) Market Size by Type (2016-2030)
9.3 Latin America Cellular IoT Market by Offering (Hardware and Software) Market Size by Application
9.3.1 Latin America Cellular IoT Market by Offering (Hardware and Software) Market Size by Application (2016-2021)
9.3.2 Latin America Cellular IoT Market by Offering (Hardware and Software) Market Size by Application (2022-2030)
9.3.3 Latin America Cellular IoT Market by Offering (Hardware and Software) Market Size by Application (2016-2030)
9.4 Latin America Cellular IoT Market by Offering (Hardware and Software) Market Size by Country
9.4.1 Latin America Cellular IoT Market by Offering (Hardware and Software) Market Size by Country (2016-2021)
9.4.2 Latin America Cellular IoT Market by Offering (Hardware and Software) Market Size by Country (2022-2030)
9.4.3 Mexico
9.4.4 Brazil

10 Middle East & Africa
10.1 Middle East & Africa Cellular IoT Market by Offering (Hardware and Software) Market Size (2016-2030)
10.2 Middle East & Africa Cellular IoT Market by Offering (Hardware and Software) Market Size by Type
10.2.1 Middle East & Africa Cellular IoT Market by Offering (Hardware and Software) Market Size by Type (2016-2021)
10.2.2 Middle East & Africa Cellular IoT Market by Offering (Hardware and Software) Market Size by Type (2022-2030)
10.2.3 Middle East & Africa Cellular IoT Market by Offering (Hardware and Software) Market Size by Type (2016-2030)
10.3 Middle East & Africa Cellular IoT Market by Offering (Hardware and Software) Market Size by Application
10.3.1 Middle East & Africa Cellular IoT Market by Offering (Hardware and Software) Market Size by Application (2016-2021)
10.3.2 Middle East & Africa Cellular IoT Market by Offering (Hardware and Software) Market Size by Application (2022-2030)
10.3.3 Middle East & Africa Cellular IoT Market by Offering (Hardware and Software) Market Size by Application (2016-2030)
10.4 Middle East & Africa Cellular IoT Market by Offering (Hardware and Software) Market Size by Country
10.4.1 Middle East & Africa Cellular IoT Market by Offering (Hardware and Software) Market Size by Country (2016-2021)
10.4.2 Middle East & Africa Cellular IoT Market by Offering (Hardware and Software) Market Size by Country (2022-2030)
10.4.3 Turkey
10.4.4 Saudi Arabia
10.4.5 UAE

11 Key Players Profiles
11.1 Qualcomm Inc. (U.S.)
11.1.1 Qualcomm Inc. (U.S.) Company Details
11.1.2 Qualcomm Inc. (U.S.) Business Overview
11.1.3 Qualcomm Inc. (U.S.) Cellular IoT Market by Offering (Hardware and Software) Introduction
11.1.4 Qualcomm Inc. (U.S.) Revenue in Cellular IoT Market by Offering (Hardware and Software) Business (2016-2021)
11.1.5 Qualcomm Inc. (U.S.) Recent Development
11.2 Sierra Wireless
11.2.1 Sierra Wireless Company Details
11.2.2 Sierra Wireless Business Overview
11.2.3 Sierra Wireless Cellular IoT Market by Offering (Hardware and Software) Introduction
11.2.4 Sierra Wireless Revenue in Cellular IoT Market by Offering (Hardware and Software) Business (2016-2021)
11.2.5 Sierra Wireless Recent Development
11.3 Gemalto NV
11.3.1 Gemalto NV Company Details
11.3.2 Gemalto NV Business Overview
11.3.3 Gemalto NV Cellular IoT Market by Offering (Hardware and Software) Introduction
11.3.4 Gemalto NV Revenue in Cellular IoT Market by Offering (Hardware and Software) Business (2016-2021)
11.3.5 Gemalto NV Recent Development
11.4 Telit Communications PLC
11.4.1 Telit Communications PLC Company Details
11.4.2 Telit Communications PLC Business Overview
11.4.3 Telit Communications PLC Cellular IoT Market by Offering (Hardware and Software) Introduction
11.4.4 Telit Communications PLC Revenue in Cellular IoT Market by Offering (Hardware and Software) Business (2016-2021)
11.4.5 Telit Communications PLC Recent Development
11.5 U–Blox Holding AG
11.5.1 U–Blox Holding AG Company Details
11.5.2 U–Blox Holding AG Business Overview
11.5.3 U–Blox Holding AG Cellular IoT Market by Offering (Hardware and Software) Introduction
11.5.4 U–Blox Holding AG Revenue in Cellular IoT Market by Offering (Hardware and Software) Business (2016-2021)
11.5.5 U–Blox Holding AG Recent Development
11.6 Texas Instruments
11.6.1 Texas Instruments Company Details
11.6.2 Texas Instruments Business Overview
11.6.3 Texas Instruments Cellular IoT Market by Offering (Hardware and Software) Introduction
11.6.4 Texas Instruments Revenue in Cellular IoT Market by Offering (Hardware and Software) Business (2016-2021)
11.6.5 Texas Instruments Recent Development
11.7 ZTE Corporation
11.7.1 ZTE Corporation Company Details
11.7.2 ZTE Corporation Business Overview
11.7.3 ZTE Corporation Cellular IoT Market by Offering (Hardware and Software) Introduction
11.7.4 ZTE Corporation Revenue in Cellular IoT Market by Offering (Hardware and Software) Business (2016-2021)
11.7.5 ZTE Corporation Recent Development
11.8 Sequans Communication
11.8.1 Sequans Communication Company Details
11.8.2 Sequans Communication Business Overview
11.8.3 Sequans Communication Cellular IoT Market by Offering (Hardware and Software) Introduction
11.8.4 Sequans Communication Revenue in Cellular IoT Market by Offering (Hardware and Software) Business (2016-2021)
11.8.5 Sequans Communication Recent Development
11.9 Mistbase Communication System
11.9.1 Mistbase Communication System Company Details
11.9.2 Mistbase Communication System Business Overview
11.9.3 Mistbase Communication System Cellular IoT Market by Offering (Hardware and Software) Introduction
11.9.4 Mistbase Communication System Revenue in Cellular IoT Market by Offering (Hardware and Software) Business (2016-2021)
11.9.5 Mistbase Communication System Recent Development
11.10 Mediatek Inc.
11.10.1 Mediatek Inc. Company Details
11.10.2 Mediatek Inc. Business Overview
11.10.3 Mediatek Inc. Cellular IoT Market by Offering (Hardware and Software) Introduction
11.10.4 Mediatek Inc. Revenue in Cellular IoT Market by Offering (Hardware and Software) Business (2016-2021)
11.10.5 Mediatek Inc. Recent Development
11.11 Commsolid GmbH
11.11.1 Commsolid GmbH Company Details
11.11.2 Commsolid GmbH Business Overview
11.11.3 Commsolid GmbH Cellular IoT Market by Offering (Hardware and Software) Introduction
11.11.4 Commsolid GmbH Revenue in Cellular IoT Market by Offering (Hardware and Software) Business (2016-2021)
11.11.5 Commsolid GmbH Recent Development

12 Analyst's Viewpoints/Conclusions

13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

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In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


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An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.


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