Market Size Analysis for an Automotive Major
The European automotive industry is undergoing a period of tremendous transformation, triggered by development in emerging markets, the accelerated rise of new technologies, and the entry of new players. The fast pace of market changes have reshaped the automotive industry landscape and transformed customer behavior and expectations. Moreover, European automakers have also been forced to find new ways to get closer to customers and enhance market share. This necessitates automotive companies to expand their business to a new market and unlock new revenue streams. Therefore, companies are partnering with firms like Infiniti Research to leverage their expertise in offering market size analysis solutions. Infiniti’s market size analysis solutions have helped businesses to stay updated with recent market developments and analyze the market drivers and barriers for making strategic market expansions plans.
The client is a leading automotive company based out of Europe. The client was looking to expand their base of operations to the Midwestern United States. Hence, before investing huge capital into the project, they wanted to gain detailed insights into the market size of these regions by analyzing factors such as sales volume, potential customers, and sales revenue. With Infiniti’s market size analysis solution, the client also wanted to gain detailed insights on market opportunities, entry barriers, and risks to develop a well-informed business plan for market expansion.
Solutions Offered and Value Delivered
To help the client tackle the industry challenges, the experts at Infiniti Research conducted a market size analysis. The engagement followed a three-phased approach.
In the initial phase of the market size analysis engagement, the experts conducted interviews and discussions with key stakeholders in the automotive industry. This helped them analyze the developments in the US automotive market and key strategies adopted by market players. In the next phase, the experts analyzed market drivers and trends and estimated the compound annual growth rate (CAGR) of the automotive products in the target geographies for the next five years. The next phase of the market size analysis engagement was identifying the market size for the region and developing a market entry strategy. The devised business plan, which included detailed information on the client’s business goals, budgets, major action items, and timelines served as a blueprint that helped the client to expand the scope of their business.
The insights obtained from Infiniti’s market size analysis solution helped the client to gain a better understanding of the US automotive market and identify untapped market opportunities. Market size analysis further helped the client to identify the best route to market to reach their target segments. With our solutions, the client was able to successfully establish their operations in the US market and achieve a higher market share. Furthermore, with Infiniti’s market size analysis solution, the client was able to exceed their revenue expectations within a course of two years. Also, the market size analysis solution helped the automotive company to enhance their market share by 17%.
What is market size analysis?
Market size analysis is defined as the process of estimating the demand for a product or a service in a particular market. Market size estimation is also a key component of any strategic marketing planning. Additionally, gathering data on the size of the target market allows businesses to evaluate opportunities and accurately plan their marketing approach and investments.