Currently, several tech and digital trends including the Industrial Internet of Things, robotics, and AI are delivering efficiencies and new opportunities for companies in the manufacturing industry. Owing to the advent of such manufacturing industry trends and advancements in technologies, companies in the manufacturing industry will need to constantly innovate their products offerings to meet future trends and newer technology demands. Moreover, these rapidly changing manufacturing industry trends demand the need to develop new strategies and invest in technology to gain a stronger foothold.
With the business world moving faster than ever before, the client, a manufacturing firm in Ireland experienced constant challenges when it comes to keeping up with the evolving manufacturing industry trends. Also, the client noted an unexpected drop in their company’s sales, revenues, and profits as they lacked the capabilities to identify emerging industry trends and market changes. Thus, with the aid of Infiniti’s market trend analysis engagement, the client wanted to analyze the market trends and market opportunities. Moreover, with the aid of Infiniti’s market trend analysis engagement, the client wanted to identify whether there would be a spike or decline in business activities in the near future to accurately develop their business goals and marketing plans accordingly.
Our market research experts conducted in-depth market surveys and used market trend analysis techniques to uncover new manufacturing industry trends and methodologies to support the client’s business growth. Based on the data obtained from Infiniti’s market trend analysis solution, the client was able to create a new business plan to effectively market their products to the target customers. The developed market trend analysis engagement also empowered the manufacturer to identify future trends and capitalize on new acquisition targets.
Moreover, with the aid of Infiniti’s market trend analysis solution, the client was able to make a well-charted out comparison between their company and competitors. The trend analysis solution also helped the firm to compare their company’s performance with the industry average.
An analysis of all the future trends in the manufacturing industry including, IIoT, robotics, and AI helped them constantly innovate their service offerings to meet the current demands. In addition, the client was able to make better decisions on their marketing strategy which enhanced the company’s marketing ROI by 14%.
What is trend analysis?
Identifying precisely where your brand sits in consumers’ mind is always useful. With the aid of market trend analysis, businesses can better understand how and why the brand needs an alignment. Trend analysis methods are commonly used to analyze the statistical market data and behavior over a definite time period in order to generate valuable insights for strategizing and forecasting future business plans.
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