Technology assessment study helps an electronic components manufacturer capitalize on futuristic technologies.
One of the world’s largest manufacturers and suppliers of passive electronics that sells over 450,000 types of components to customers in more than 150 countries, saw the potential to drive growth with smart connectivity solutions. In order to seize the commercial opportunity, it needed to understand how the technology can drive profit and check the feasibility of its plans.
Business challenge
One of the world’s largest suppliers of passive electronics that sells over 450,000 types of components to customers in more than 150 countries, saw the potential to drive growth with smart connectivity solutions. In order to seize the commercial opportunity, it needed to understand how the technology can drive profit and evaluate the feasibility of its plans.
The client engaged Netscribes for a technology assessment study to establish a go-to market strategy by understanding the feasibility and future potential of smart connectivity solutions. The client was also interested in understanding the demand for smart connectivity solutions specifically in North America and Western Europe.
Solution
Netscribes took a three-step approach to carry out the study:
1. Technology Research:
- This involved the analysis of the smart connectivity technology domain, existing integrated solutions, technology needs and advances, current focus areas and future technology scope, new product features additions, R&D and technology investments. This step outlined the transition required from the current technology to smart connectivity and the changes required in the client’s current product portfolio to transform it into an integrated solution.
2. Business Research:
- At this step, Netscribes analyzed competitor strategies in the smart connectivity space, futuristic products, identified how smart connected products added value to existing product lines, mergers and acquisitions, and technology partnering strategies.
3. Market Research:
- This involved analyzing market trends, end-user expectations, growth drivers, barriers to the success of the technology, emerging and prominent geographies, the potential for growth in North America and Western Europe, and the opportunities in the smart connectivity space.
Finally, Netscribes outlined a go-to market strategy for the client, indicating whether it
should operate as a solution provider or as a component supplier.
Read more: Technology tracking for a global energy and petrochemicals group
Benefit
Netscribes helped the client understand the market and technology specifics of the smart connectivity domain with specific insights on the market and competition. The study helped the client to align its business segments in sync with changing consumer preferences and define their approach in capitalizing on futuristic technologies.
