Overview of the global portable air conditioner market
Today, the comfort level of individuals depends to a large extent on the surrounding environment. Air pressure, temperature, and humidity are few of the most important environment variables that keep changing throughout the year. Getting habituated to these changes often becomes a difficult task for individuals. Therefore, to control the environmental conditions, air conditioning systems play a vital role. The growth of the portable air conditioner market is mainly driven by its characteristics, including efficiency and its compactness. Additionally, they do not require everlasting installation and can be moved from one place to another with ease. Individuals are also making use of portable air conditioners for trips and other outdoor activities.
Although the portable air conditioner market is proliferating, many factors are expected to slow down its growth prospects. A few factors include:
- Costs: Players in the global portable air conditioner market have more and more to invest in specialized equipment and cutting-edge technology. Yet, they also must set the prices competitively to avoid losing customers to other peers. The secret is to balance what is spent with the prices that are defined, always trying to reduce costs and adopting the best practices for the business.
- Communication: Players in the portable air conditioner market must be aware of their capabilities and should stay updated on any changes or upgrades to stay on par with the competitors. Besides this, it is also important to speed up the process of reporting failures between the staff, company, and the customers, while providing the technician with all the information needed to run the service without any data loss or bureaucracies along the way.
To overcome such challenges, it is best recommended for players in the portable air conditioner market to leverage the use of category market intelligence solutions. Category market intelligence solutions help organizations understand the market effectiveness in terms of competitors, their supply chain activities, and the supplier diversity. These solutions also deliver insights into the buying preferences of the customers and help companies understand the potential risks associated with procurement.
The Business Challenge and Journey
Client background: A prominent firm in the portable air conditioner market with business units spread across the globe wanted to understand the market landscape in terms of market drivers, dynamics, and niches.
Client issue: They were facing predicaments in understanding customer’s preferences. Additionally, the client wanted to capitalize on the opportunities to obtain maximum value and gain better visibility into their supply chain activities.
SpendEdge’s category market intelligence experts followed a blended approach comprising of interviews and discussions with leading stakeholders in the HVAC industry to help the client better understand their target customers and accordingly devise effective marketing strategies.
Client journey: The client comprehend the suppliers and the cost structure. Additionally, the solution helped the client to effectively understand the competitor’s category strategies and assess the potential risks, compliance, and environmental policies and maintain superior supplier relationship.
Key questions answered in this category market intelligence engagement
The portable air conditioner manufacturing firm carried out an effective category market analysis to gain better insights into the buyers, the potential risks, and product portfolios.