MI Cloud allows all employees, regardless of rank, democratic access to cutting edge market research data. It helps B2B companies translate growth intelligence to revenue intelligence, enables teams and partners to collaborate on analysis, insights and decision making while identifying niche market opportunities arising out of disruptions. It also enables gathering of intelligence by taking advantage of proven and highly scalable data analysis and insights.
Client’s Problem statement
The client, one of the leading vendors in the IoT ecosystem, was keen to understand the competitive landscape as well as the adoption rate of IoT cloud platform across North America, Europe, and APAC. The client also wanted to increase its market share and reach in the geographies mentioned above. Additionally, the client was interested to understand the impact of the COVID-19 pandemic on the IoT cloud platform ecosystem.
MarketsandMarkets identified key disruptive technology trends that were changing the revenue mix of the client’s clients in end-use industries such as factory automation, smart rail, smart grid, and intelligent transportation, across North America, Europe, and APAC. MarketsandMarkets also interviewed a host of potential customers in these end-use industries to understand their unmet needs, possible use cases, and benefits from cloud-based IoT platform and what they looked for in an IoT technology partner.
This has helped the client identify the market potential and high impact use cases of IoT cloud platform across these end-use industries. MarketsandMarkets also helped the client to analyze the competitive landscape, varying business models, and strategies (organic and inorganic) of different players in the IoT cloud platform market. This helped the client devise a strategy-based product differentiation and form suitable alliances within the ecosystem to increase the market share.
MarketsandMarkets analysis and views on the impact of COVID-19 on the market, has helped the client to understand the changes in the short-term business strategy.
MarketsandMarkets’ work resulted in the client tapping into a more than USD 6 billion market, with projected revenue of ~USD 8 million in three years.