The rise of IIoT applications, digital twins, and the growing popularity of advanced technologies like AI and AR are propelling the demand for industrial automation across sectors. Being one of the worst-hit industries, companies in the industrial automation market space are looking to implement new strategies and build innovative applications with a market situation analysis to mitigate the impact of COVID-19 and cater to the growing demand from various industry segments.
Amid these challenges, businesses in the industrial automation market are witnessing cutthroat competition due to several new players entering the market. With the demand for industrial-grade products increasing across sectors, a high requirement for factory automation to help mass produce commodities is being felt worldwide. This has caused a spike in new players entering the industrial automation market, which is expected to increase competitiveness making it more challenging for businesses to thrive.
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Business Challenge
The client is a leading industrial control and factory automation solutions provider based out of Italy. The client’s innovative solution offerings empower manufacturers across industries to improve business performance and drive growth while also reducing environmental impact.
To thrive amid the growing competition, the client was looking to develop a product differentiation strategy and offer services that drive functional transformation and commercial value to gain an edge in the global marketplace.
The growing demand for advanced production capabilities across sectors has impacted the global industrial automation market. In such a scenario, focusing on services and products that drive digital transformation and commercial excellence is expected to be a key growth strategy for those looking to gain an edge in this sector.
The client approached Infiniti Research seeking to leverage our market research expertise to conduct market situation analysis and gain a detailed understanding of its position with respect to that of its competitors. Conducting a detailed market situation analysis was crucial for the client to understand competitive forces and devise effective product differentiation strategies.
Our market situation analysis studies provide you with a detailed map to help you make smarter choices as you execute your product and market development plans. Submit a free proposal request to know more about market situation analysis.
Market Situation Analysis: Our Approach
Our holistic approach to market situation analysis includes research and analysis of target markets, competitors, business challenges, and competitive differentiators to help our clients gain a clear and in-depth understanding of the marketplace.
A dedicated market situation analysis team with experience in meeting the various needs of global industrial automation companies was assigned to help the client understand the overall market, competitors’ business structure, and buying behavior of users. We followed a blended four-pronged approach to address the client’s business requirements, comprising comparative market analysis and market situation analysis.
Customer Analysis
The focus of the first phase revolved around conducting an in-depth customer analysis study. This shed light on the demographics, market trends, consumer needs, and purchase intent.
Comparative Market Analysis
The second phase focused on examining key competitors’ products and their ability to cater to the customers’ existing needs. By adopting this method, the client gained insights into competitors’ offerings, product strategies, and the impact of these products and their benefits.
Competitive Analysis
The research conducted in this phase helped identify core competitors, their product positioning strategies, their strengths, and their weaknesses.
Market Scanning
SWOT analysis was conducted to scan the internal and external factors impacting the client’s business growth. This helped identify the client’s strengths, weaknesses and also helped find new opportunities and threats for success.
Our market research experts also carried out primary and secondary research to obtain, organize, and analyze relevant market data from various sources. Towards the completion of this research project and by the end of the sixth week, the client was able to gain an in-depth understanding of customer segments, market size, and the competitive landscape of the global factory automation solutions market.
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Business Outcome
Our comprehensive four-pronged approach to market situation analysis helped the client analyze factors impacting the market growth, customer needs, and current position. These insights proved crucial in devising effective product differentiation strategies to drive market growth and gauge factors impacting their business.
The insights gained from this market situation analysis engagement also helped the client to:
- Define potential customers
- Evaluate future growth potential
- Assess competitors’ strategies
- Achieve a 17% increase in ROI by building new revenue streams
- Outrank the global competition within six months
- Improve customer acquisition and product success rates
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Why choose Infiniti as your research partner?
With over 17 years of experience in offering custom market research services, Infiniti today has outranked its global competitors to become a well-known name in the industry. Our multi-disciplinary teams comprise experienced market researchers and data analysts who have helped our clients carve a niche for themselves across industries.
Our custom market research services cover Market Intelligence, Market Situation Analysis, Market Entry Research, Competitive Benchmarking, Competitive Pricing, Market Scanning & Monitoring, Competitive Intelligence & Benchmarking, and Demand Management that are proven to be effective in addressing various challenges faced by businesses across geographies.
Whether you require a quick one-on-one consultation or in-depth insights tailored to your market-specific needs, we are here to help. Get in touch with our market situation analysis experts to get started on your business transformation journey.
