Competitive Benchmarking Analysis Helps an Industrial Manufacturer Launch and Expand their Cloud-Based IoT Platform | Infiniti’s Recent Client Engagement

LONDON--(BUSINESS WIRE)--Recently, industrial manufacturers have witnessed various challenges, including economic disparity, major political changes, and demand slowdowns in different geographical locations. The COVID-19 pandemic has propelled these challenges, led to the loss of market share and profits, a substantial reduction in demand, and significantly impacted supply chains. Companies need to shift their focus to ensuring worker safety due to changing hygiene protocols and accommodating operational changes. IoT services help alleviate these challenges in various ways by enabling employee safety, reducing short-term costs, providing data for predictive maintenance, and improving liquidity. Infiniti’s competitive benchmarking analysis helps industrial manufacturing market players by providing them with data-driven, actionable insights into competitors’ pricing strategies and identifying in-demand and profitable segments in a highly competitive market.

To leverage Infiniti’s competitive benchmarking analysis to gain a strategic edge over competitors in the recovering industrial manufacturing space, and prepare for the post-COVID era, request a free proposal.

“The critical leadership focus at the moment is mostly on minimizing the employee toll of the COVID-19 through safety measures for workers, and the new physical-distancing standards are dramatically altering operations, employee responsibilities, and staffing. This reinforces the need for IoT services to help companies proceed on the journey to the new normal,” says an industrial manufacturing market expert at Infiniti Research.

Business Challenge:

The client, an industrial manufacturer, based out of the US, sought to optimize production, increase customer satisfaction, and gain more visibility into their operations by implementing IoT services. To successfully establish market share in this new venture, the client wanted to achieve comprehensive insights into suppliers offering IoT services in commercial and institutional end-users in their segments. The industrial manufacturing market client chose to leverage Infiniti Research’s expertise in providing competitive benchmarking analysis. During the sixteen-week engagement, the client wanted to assess pricing models, understand market dynamics for adopting IoT services, evaluate competitors’ offerings, and understand market dynamics in their region.

Our Approach:

Infiniti’s competitive benchmarking experts developed a sequential approach to assist the industrial manufacturer with accurate market insights. The process included the following four phases:

• Scheduling finalization for the project and identifying key sources of data collection
• Collecting primary and secondary data through primary interviews with market experts, and sources such as public and private databases and industry news
• Validating and filtering out the required data, followed by in-depth analysis using techniques, including pricing and structuring analysis, and detailed competitive benchmarking
• Developing a detailed report to provide the client with refined data and accurate and actionable insights

Business Outcome:

With the insights gained from Infiniti’s competitive benchmarking analysis, the industrial manufacturing market client successfully understood the IoT services market and evaluated competitors’ offerings and promotion strategies. The client could decide on a bundle structure of offerings, with differing features in each bundle. The experts’ insights also helped identify products in-demand and enabled the client to strategize and invest in the most profitable segments—the manufacturer invested in predictive maintenance to address the growing demand for IoT services in hotels and hospitals. The actionable insights from the competitive benchmarking analysis enabled the client to launch its cloud-based IoT platform, with crucial benefits such as better visibility into operations and lesser costs. Lastly, this engagement’s success has inspired the client to expand its IoT services to other in-demand and profitable segments.

Speak to industry experts to learn how Infiniti’s competitive benchmarking analysis enables industrial manufacturers to evaluate competitors’ strategies and develop comprehensive plans to venture into the IoT services market.

About Infiniti Research

Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to analyze competitive activity, see beyond market disruptions and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us