The proliferation of automotive technology and intensifying
competition between well-established automotive supply companies and emerging market
players remain at the top of the agenda for the C-suite. Notably, the emerging market
players are radically disrupting a wide range of industry segments, due to
which leading automotive supply firms face challenges in terms of market
differentiation, expansion, go-to-market opportunity, and product development.
Businesses in the automotive supply industry must devise
effective strategies and keep track of decision criteria to adapt and make
organization-wide changes. Ideally, the strategies must be based on three aspects,
i.e., product development, technical expertise, and innovative go-to-market methodologies.
Succeeding
in the increasingly competitive automotive supply industry
To better understand these aspects, we interviewed representatives
of leading automotive supply companies. Based on these insights, we have
curated a list that explains the strategies to succeed and win globally in the
increasingly competitive automotive supply industry.
Retaining leadership in new product development
A majority of automotive companies with a global reach have innovation and product development as the topmost priority on their business agenda. Global leaders within the automotive supply industry set aside many resources and invest in R&D when compared to the other players for whom product development is not a priority. Moreover, product research and innovation are considered crucial in addressing end-customer needs and retaining market position in most cases.
Maintaining a technology advantage by bridging the gap between automotive supply and demand
The use of innovative technology can aid businesses to gain an edge in the automotive market. Keeping abreast of technology must be a strategic priority for executives looking to capture a fair share of the market. However, addressing these issues will require businesses to invest in research and analysis. The need to maintain a technology advantage comes not only from well-established market players but also from stricter compliances and industry standards in both developed and emerging markets.
The rising industry standards for fuel efficiency, stricter recall
policies, and enforced repair and replacement guarantees by OEMs will require
automotive supply companies to improve product technology and quality to stay
in the market.
Whether you’re an emerging automotive supply company or a well-established player looking to expand into new market segments, our best-in-class research methodologies can provide you with accurate data on market developments and insights you need to know to break into a new market. Request a free proposal right away.
Differentiating through value-added services and go-to-market
methodologies
In today’s scenario, automotive supply firms must provide solutions and value-added services to differentiate themselves. This is especially important if you’re an emerging market player who has just set foot and looking to expand your business in a new market segment. An in-depth comparative analysis of go-to-market strategies used by leading automotive supply companies and emerging players reflects the fact that they are starting from different points but wish to achieve a similar end goal.
Automotive industry experts at Infiniti Research recommend emerging market players must devise a global branding strategy backed with in-depth brand research insights to expand reach outside their home markets.
A three-step
approach for emerging automotive supply companies
Our experts have outlined a three-step approach for emerging
companies to succeed in the quickly changing competitive landscape based on our
market knowledge and expertise in creating branding strategies for leading automotive
supply companies.
1. Gather extensive intelligence on the competition
Given the remarkable speed at which players from emerging markets are setting foot in the automotive supply industry, it is crucial for businesses to track and analyze the competitive landscape. Emerging companies must also form a vision of future industry developments and growth aspects to survive amid the competition in global markets.
With in-depth market and competitive intelligence, businesses can identify areas for action and create breakthroughs in product innovation, product development, branding, and many such areas.
2. Develop a winning mix of strategies to address your
needs
Developing a winning mix of strategies requires in-depth market research insights. Acting upon market data can help automotive companies find specific areas that require an overhaul or end-to-end transformation comprising diagnostics and changes to address their business needs. Our research experts can provide tailor-made solutions based on your unique requirements and help you address your challenges. Request a free brochure to know more.
3. Prepare for the global shift that will impact the automotive supply chain
Keys to creating a successful global competitive strategy in the automotive supply industry include M&As, partnerships, and alignment of business goals and strategic plans. Hence, finding the right balance of authority, setting KPIs to track performance, and developing a robust governance model is critical to preparing for future shifts.
In today’s complex business world, the tectonic shifts and
pace of change are faster than one would have expected them to be a few years
ago. This requires automotive supply companies to stay proactive and prepare
their businesses for the inevitable shifts in the future. Besides these shifts,
globalization is expected to impact developments within the automotive supply
industry. And leading players in the automotive supply industry agree that a
globalized market offers more opportunity than pose a risk for companies well-equipped
to tackle dynamism.
Based on research, several factors are found to impact growth in the automotive industry. Request more informationto gain comprehensive insights into each of these factors and learn how you can tackle these challenges with custom market intelligence.
We help our clients make smarter decisions to achieve rapid business growth
Our strength lies in the unrivaled diversity of our international market research teams, innovative research methodologies, and unique viewpoints that merge seamlessly to offer customized solutions for your every business requirement.
Written By: Vishesh Kumar, Associate Vice President at Infiniti Research Employee insights can pack more punch into market intelligence than you’d expect: Admittedly, not every employee is an internal entrepreneur or feels motivated to don that cap. However, every...
Written By: Gaurav Sharma Overview Market Size of a product/service is necessary for every business. But why? It’s an indicator that can help you assess the profit potential of your business. You always want to be a step ahead of your competitor(s) when doing business...
Written By: Mohit Sharma The chemical industry, a dynamic and pivotal sector, continually evolves as market dynamics shift and user requirements diversify. To navigate this landscape effectively, a strategic approach to market segmentation becomes indispensable. In...
Our knowledge hub offers exclusive access to a collection of free resources and downloadable articles that provide insights into market developments and details on how our services can benefit your business.
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. You may change your settings based on a legitimate interest at any time, by selecting “Manage Settings” on our site. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review Privacy & Cookies Notice.
When you visit any website, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about you, your preferences, or your device and is mostly used to make the site work as you expect it to. The information does not usually directly identify you, but it can give you a more personalised web experience. Because we respect your right to privacy, you can choose not to allow some types of cookies. Click on the different category headings to find out more and to change your default settings. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. Opting out of some of these cookies may affect your browsing experience. Please read Privacy & Cookies Notice before managing your preferences.
These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. These cookies are essential in order to enable You to move around the site and use its features, such as accessing secure areas of the site. These cookies do not store any personally identifiable information.
These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers like Hubspot whose services we have added to our pages. These cookies cannot track your browsing activity on other websites. All information these cookies collect is anonymous and is only used to improve how this website works. If you do not allow these cookies we will not know when you have visited our site and will not be able to monitor its performance.
This website uses Google Analytics, a web analytics service provided by Google, Inc. (Google). These cookies are used to calculate visitor, session, and campaign data, and to keep track of site usage for this site's analytics report. These cookies store the behaviour of each user’s information such as your login information, what pages you visit, how long you stayed on the page, the device you were using, your time zone, what language you're using, where you’re logging in from, and the operating system of the device you are on. Such information is necessary for a website's digital marketing efforts, increasing the chances of campaign success by tailoring content to the target audience.