Factors such as the rise in regulatory pressure, the complexity of customer infrastructure, and massive cloud adoption pose major challenges to managed security services providers.
The explosion of ransomware and the increase in cyber threats are compelling companies operating in the ICT industry to look for ways to meet the insatiable demand for data security. Though several factors contribute to the market’s growth, the increasing need to secure huge amounts of digital data turns out to be the key growth driver. Thus, hinting at the fact that ‘cybersecurity’ is becoming ever more important for the managed security services segment.
Additionally, managed security services providers are grappling with the challenges of supporting BYOT, new vendor devices, and shadow IT issues. The complexities associated with such factors are fueling the demand for security services. Also, the need for data sovereignty makes it challenging for companies to maintain security service centers in multiple countries across the globe.
The Business Challenge
- The client: A managed security services provider
To form a business strategy by analyzing market information, the client – a leading managed security services provider – approached Infiniti to engage in a competitive intelligence assessment. The client was looking at gaining detailed insights into the market’s developments.
The client wanted to conduct a competitive intelligence study to gather critical information from competitors looking to strengthen specific security solutions. The primary objective of the study was to help the client make informed business decisions when it comes to the development of sustainable security services to support their customers.
How Competitive Intelligence Helps Companies in the ICT Industry?
The ICT industry is one of the most challenging sectors in the world. The shifting market dynamics, rapid technological developments, and growing competition are pressurizing firms to devise effective business strategies. With years of expertise, our market experts and proven research methodologies assist you in identifying new market opportunities.
Our competitive intelligence experts offer best-in-class solutions that enable companies to gain an in-depth understanding of their position with respect to that of their competitors in the marketplace. Moreover, with a right competitive intelligence solution in place, enterprises have a mathematical formula to figure out why and determine how they can stay in the game and shape a more profitable destiny.
Summary of our competitive intelligence engagement
Client Journey
Infiniti’s competitive intelligence solutions helped the ICT industry client to leverage the use of real-time competitive information to drive actionable decisions. Also, with the help of our solutions, the managed security services firm was able to develop a strategic agility to thrive in a faced-paced market.
Furthermore, to help the client assess the competitive landscape and identify imminent market trends, the market experts at Infiniti conducted a competitive intelligence assessment that offered valuable insights on decision-making procedures, market trends, and barriers. The approach included primary and secondary research methodologies coupled with qualitative and quantitative data collection procedures. The experts also reached out to various stakeholders in the ICT market.
Solution Benefits and the Business Impact
Infiniti’s competitive intelligence experts offered a blended view of the various segments within the ICT industry and helped the client to identify and assess – competitor’s products, product specifications, services offerings, and next-gen rollouts. In addition, the assessment assisted the client to stay competitive by anticipating the business plans of their competitors.
The Future
With the ICT industry experiencing accelerated growth, concerns about information security will continue to evolve, making it a necessity for companies to rely on security services providers to enhance data security. At the same time, managed security services providers are a growing answer to security issues, providing enterprises with access to skilled professionals to safeguard sensitive data such as customer information and employee data while ensuring they comply with the multifaceted regulatory requirements.
Moreover, as organizations across sectors are digitally transforming themselves, it becomes essential for ICT industry players to offer enhanced data security and encryption services. To do so, ICT industry firms will have to assess the capabilities of their competitors and develop enhanced business strategies to gain a competitive edge.
A must-read case study for strategy specialists and decision makers looking to develop an understanding of the ICT industry.
