Category Market Intelligence: A Technology Landscape Assessment for an Automotive Industry Client
Overview of the Automotive Industry The global automotive industry comprises of two distinct segments including the retail services and repair sector (RS&R) and the manufacturing sector. The automotive manufacturing segment encompasses the manufacture of motor vehicles, including sport utility vehicles (SUVs), cars, and medium, heavy and special-purpose highway trucks. The automotive retail sector deals with […]READ MORE >>
Overview of the Automotive Industry
The global automotive industry comprises of two distinct segments including the retail services and repair sector (RS&R) and the manufacturing sector. The automotive manufacturing segment encompasses the manufacture of motor vehicles, including sport utility vehicles (SUVs), cars, and medium, heavy and special-purpose highway trucks. The automotive retail sector deals with the sales of vehicle parts, the supply of aftermarket equipment, and vehicle recycling and disposal.
The Business Challenge and Journey
The client, a leading player in the automotive industry with several business units spread across the globe, was looking at leveraging SpendEdge’s market intelligence solution. The client wanted to identify the strategic technology trends in the automotive landscape.
The automotive company wanted to engage in a technology landscape assessment to enhance its business and intellectual property portfolio. Moreover, the client wanted to use market intelligence to drive savings and offer greater assurance across their supply chain.
The company’s supply chain management executives recognized the tremendous benefits of leveraging SpendEdge’s category market intelligence solution. As such, they were looking at employing a technology landscape assessment to improve their product lifecycle planning. Moreover, they also wanted to improve market awareness.
To identify challenges in supply chain functions, the market intelligence experts at SpendEdge carried out extensive research comprising interviews and discussions with prominent stakeholders in the automotive industry. The experts also compiled information across a wide array of reliable sources such as trade shows, company presentations, industry forums.
Importance of technology landscape assessment
Technology landscape assessment acts as an indicator for a particular industry and offers insights on where a specific segment of the market is headed. Also, an active technology landscape assessment performed as a regular process can assist companies in increasing their business and market awareness.
Though most leading companies tend to take advantage of core technologies, a few are far behind when it comes to technological adoption.
Fundamental questions answered in this category market intelligence study include:
Understanding the current technology and it’s potential should yield answers to these question:
- Are we monitoring supplier companies and their technology?
- Do we monitor our core technologies for the latest trends and advances?
- What else can the current technology do?
SpendEdge’s market intelligence based solution offered relevant insights that helped the automotive industry client to analyze the current market trends and developments in the automotive sector. The technology landscape assessment also shed light on requirement gaps and ways to bridge them using more advanced technologies. Such an approach allowed them to act quickly and increase the efficiency of their sourcing process to drive profitability.
Moreover, this technology landscape assessment assisted the automotive industry client to achieve breakthrough improvements in their overall supply chain performance. Furthermore, it offered relevant insights to better understand the market scenario, industry standards, and expectations.
Why should you leverage category market intelligence?
Category market intelligence is essential for any company as it helps in gaining a more profound knowledge of the industry. Setting up a category market intelligence practice is an effective way for organizations to gather information and data related to the specific industry. It also helps them analyze the collected data to make accurate business decisions.
Automotive industry trends:
- The emergence of automotive cloud technology– As customers are used to updating their smartphones over the cloud, they are looking for a comparable experience in their vehicles. The coming years seem promising since more and more vehicles are expected to come with a dashboard system that is quickly updated and customized by drivers.
- The rise in the use of electric vehicles– The rise in the demand for electric vehicles among the global population can be attributed to the low battery costs and its environmentally friendliness when compared to fuel-based vehicles. This has compelled players in the automotive market to increase their investments in electric vehicles.
- Rising focus toward autonomous driving– Leading automakers in the market continue to release cars equipped with semi-autonomous features. In addition to the existing features such as parking and traffic assist, smart navigation systems, and collision assist, automotive companies are increasing appeal by offering services that can deliver more personalized experiences to the driver.
To know more about our market intelligence solutions for the automotive industry