Today, cybersecurity of video surveillance remains the biggest challenge for security solutions providers around the globe. As a result, greater education of industry best practices for system designs needs to be combined with vendors having a fully developed strategy for addressing vulnerabilities. Additionally, location-based security solutions are in high demand but there are some drawbacks. One of it is the low adoption from end users due to privacy concerns and a lack of willingness to download applications to mobile devices. Also, there are issues when a user is in a country with strict internet regulations.
Furthermore, the integration of access, video, and intrusion under a single system is gaining interest from commercial end users. However, the costs of integration can be very high, particularly with when merging older and newer technologies.
Business Issues
- The client: A security solutions provider
A renowned security solutions provider based out of the US, approached Infiniti Research to conduct a robust competitor analysis. The client was facing predicaments in gaining a detailed analysis of their competitor’s sales and market shares. As a result, they wanted to develop robust promotional and marketing strategies to gain a competitive advantage over their competitors. Furthermore, the security solutions provider wanted to analyze competitor performance and their capabilities and make a comparison of the competitors in terms of the qualitative and quantitative parameters.
How Can Competitor Analysis Help Security Solutions Provider?
Infiniti’s competitor analysis solutions help companies determine the strength and shortcomings of the market. Additionally, these solutions provide business with a distinct advantage from the traditional and non-traditional competition.
Summary of our Competitor Analysis Solution
Client Journey
To help the security solutions provider profile potential competitors and develop robust competitive strategies, Infiniti’s competitor analysis experts carried out extensive qualitative and quantitative research with leading stakeholders in the ICT Industry. The experts also compiled information across a wide array of secondary sources such as paid industry databases, company presentations, and industry forums to help the client gain a deeper understanding of the potential competitors.
The Solution Benefits and the Business Impact
With the help of Infiniti’s competitor analysis engagement, the security solutions provider compared the performance of the competitors and identified opportunities to differentiate their products and services. Additionally, the client gained better visibility into the market’s landscape in terms of the market position and brand strategies to be followed. This helped the client to effectively monitor competitors’ pricing strategies and proactively take informed business decisions.
The Future
The rapid development of technologies will allow greater flexibility and security to end users, providing a more predictive and proactive approach to security procedures in the coming years. Additionally, emerging trends in the global security solutions market will include the Internet of Things, wearable devices in public safety, and intelligent security solutions.
A must-read case study for strategy specialists and decision makers looking to develop an understanding of the ICT Industry
