US Manufacturing Industry Outlook
While the revenue for companies in the US manufacturing industry fell during the 2008 recession, the industry’s overall performance was not seriously marred during that period. After years of sluggish growth, the US manufacturing industry is expected to proliferate over the coming years. However, challenges such as labor shortages, inability to keep up with new technologies, and cybersecurity issues continue to exist. As such, manufacturing companies are under the pressure to tackle challenges coming their way and innovate processes to gain a leading edge in today’s competitive marketplace.
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Business Challenge
A manufacturing firm based out of Canada was eager to understand the prevailing market dynamics in the US manufacturing sector to create an informed market expansion plan to enter the US. Also, the client wanted to explore new market opportunities in the US manufacturing industry and understand the challenges affecting manufacturing firms in the US.
To do so, they needed a research partner to provide them with effective market data and guide their way forward. They approached the experts at Infiniti Research to leverage their expertise in offering custom market intelligence solution.
With Infiniti’s market intelligence solution, the client wanted to tackle other industry challenges such as:
US manufacturing industry challenge #1 – Labor shortages
Recent US manufacturing industry study shows that there could be around 1 million unfilled manufacturing jobs by 2025. Although automation and robotics may help manufacturing companies fill major labor gaps, skilled workers will still be needed to operate complex machinery and manage production. Therefore, with Infiniti’s market intelligence engagement, the client wanted to evaluate the capital requirement for recruiting skilled labors in the US and understand how their competitors managed labor shortage issues.
US manufacturing industry challenge #2 – Keeping up with new technologies
With automation, the Industrial Internet of Things (IIoT), robotics, and cloud computing growing in popularity in the US manufacturing industry, the client wanted to keep a constant watch on all the US manufacturing industry trends and developments.
US manufacturing industry challenge #3 – Cybersecurity challenges
With cybersecurity threats rising in the manufacturing sector, the client wanted to identify all the threats and risks facing companies in the US manufacturing industry.
By providing custom market intelligence solutions, we help our client meet their business goals and address market challenges. Contact us to leverage our market intelligence solution.
Solutions Offered
As a part of the market intelligence engagement, the experts at Infiniti Research conducted a US manufacturing industry analysis. During the US manufacturing industry analysis, the experts at Infiniti Research analyzed certain factors such as market potential, investment environment, market developments, trends, supply-demand requirements, and US manufacturing industry growth rate.
The market intelligence engagement also involved market size analysis. This phase of the engagement helped the client to understand the US manufacturing market size. Also, the experts conducted a competitive intelligence study, which helped the client to analyze business strategies of the top manufacturing companies in the US.
The last phase of the market intelligence engagement involved risk assessment engagement. This phase of the engagement helped the client to identify all financial and security risks affecting business operations of companies in the US manufacturing industry. Furthermore, the experts helped the client to evaluate the capital requirements for recruiting skilled labors, implementing new technologies, and making a smooth market expansion.
Results Obtained
The client was able to gain insights on critical success factors to devise its go-to-market strategy and route to entry in the market. Our experts also supported the client in identifying the right business partners to support their operations in the United States. They also developed a detailed understanding of the attractiveness of market opportunities for their product offerings.
Within two years of entering the US manufacturing industry, they were able to exceed their sales expectation and achieve savings of over 25%.
