Players in the ICT industry face major challenges in transforming their services to meet the digital aspirations of the global population.
The growing adoption of cloud-based infrastructures along with the introduction of business governance regimes like general data protection regulation (GDPR) makes it difficult to develop ICT models that are both cohesive and compliant. This is especially true for large enterprises that use a mix of legacy and modern applications and infrastructure. However, effective solution management is key to ensuring systems stay cost-effective and meet business needs.
Moreover, as we shift toward the use of Industry 4.0, factors such as virtual reality, AI, advancements in robotics, machine learning, and cloud computing will play a significant role in the way the ICT industry functions.
The Business Challenge
- The client: A leading integrated security service provider
To understand the market potential for introducing their patented set of security solutions, a leading player in the ICT industry approached Infiniti to help them conduct a market intelligence assessment. The integrated security service provider was looking at developing precise strategies to position and pitch their security solutions to establish themselves in a new market. With the help of market intelligence, the security service provider wanted to understand the market size, newer segments, and their potential to attract investors.
How Market Intelligence Help Players in the ICT industry?
“A market intelligence assessment deals with the identification, collection, and analyses of external market data collected by industry experts about a specific segment.”
It enables organizations to make precise decisions and offers detailed insights into the market in which they wish to enter. Also, it is the initial set of data which a company analyses before investing in a new market segment.
Players in the ICT industry are increasingly focusing on investing in newer market segments to enhance business growth and drive profit margins. However, prior to investing in a particular market segment, it is essential to gain detailed insights into the key drivers, barriers to growth, and overall growth potential of that particular market segment. Moreover, in today’s market scenario, internal challenges are manageable but assimilated and acquired intelligence such as competitive intelligence helps organizations to focus on driving growth while ensuring their market validity.
Summary of Our Market Intelligence Engagement
Client’s Journey
With the help of Infiniti’s market intelligence solutions, the security service provider gained a detailed overview of the market potential of the security solutions that they wished to introduce. The market intelligence solution offered included a detailed description
The market intelligence experts at Infiniti conducted a detailed market research to help the integrated security service provider gain a better understanding of the current market landscape. 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 industry.
Solution Benefits and the Business Impact
The market experts at Infiniti offered detailed market insights that helped the client to develop precise strategies to position and pitch their security solutions. Conducting a market intelligence assessment also enabled them to introduce breakthrough innovations by offering enhanced security services to cater to the dynamic needs of the end-user industries.
The Future
It is quite evident from the evolving market trends that the ICT industry is moving towards a future in which the internet protocol based next-gen networks are set to replace circuit-switched networks, both for fixed and mobile services. This makes it essential for security service providers to play a key role in fostering ongoing innovation and competition, enabling operators to adopt the latest, most powerful technologies while ensuring their clients enjoy the best range of services in a secure manner.
However, the high upfront costs related to devising new security solutions and the difficulty to compete with market players with advanced skillsets have necessitated the need to enter newer markets, amidst the growing global challenges.
A must-read case study for strategy specialists and decision makers looking to develop an understanding of the ICT industry.
