Coherent Market Insights
About: Raj Shah - CEO and Founder
Raj Shah is a seasoned strategy professional with global experience, from strategy to on-the- ground operational improvements. He focuses on the automation, consumer electronics, and especially digital/ consumer-internet leading multiple long-term engagements towards mobilizing and executing on break-through strategy - leading to tangible sales results. Raj is also acting as a strategy consultant for one of the leading online hyper local service providers in India, contributing to their growth through critical strategic decisions. Raj usually spends time after office in talking to the passionate entrepreneurs, regardless of their funding status.
1. What research methodologies you suggest that would assure best possible and accurate market research results across various business verticals?
As per my opinion, the research methodologies adopted for market intelligence services are witnessing paradigm shift owing to change in technology and socioeconomic trends. While traditional market research techniques such as surveys and focus groups are still widely used, there are many new research methodologies to spice things up.
Coherent Market Insights (CMI) follows a comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps the company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
Primary Research (Trade Surveys and Experts Interviews)
Data Analytics Techniques (using our patented tool)
Currently, the focus has been changing from mere data collection to data mining. To the point where analysis (or data mining) is much more challenging than obtaining the data. One of the research technique that we have changed at our organization is from self-reporting techniques (surveys, focus groups), to observational research methods whenever possible.
Also, with increasing average time spent by an individual on a smartphone; we are adopting mobile research techniques such as Mobile Ethnography, which allows us to really understand the habits and lifestyles of subjects. Additionally, the organization is leveraging certain key techniques, which helps us to provide accurate estimates to your clients. Prediction analytics, research using social media data are one of the key techniques that we are using as a part of our research methodology which is enabling us to provide accurate market insights to our clients across various business verticals.
2. In your opinion, what are the important factors positively influencing the global industrial automation market growth?
The growth of the industrial automation market is tied to the performance of the end-use industries. Scalability and drive to increase interoperability between machinery, sensors, controllers, drives and other equipment among all the end-user industry is one of the most prominent parameters influencing the growth of industrial automation market. Every enterprise aims to accommodate increasing productivity demands, along with its growth roadmap, be it a manufacturer or utility provider. This creates a necessity for hardware and control capabilities.
The food and beverage industry relies on numerous processes and steps before reaching the consumer food and beverage industry, commencing with ingredient delivery, mixing, bottling and secondary packaging to distribution. As this industry is highly regulated for safety and sanitation, the usage of industrial automation systems is ensuring its compliance and is increasing throughput of these industries.
In Oil and Gas industry, IoT-based systems, capable of detecting, containing and preventing operation-related problems, offer the high level of automation by offering interactive system encompassing a variety of sensors, valves, alarm systems, loading and unloading racks. Also, the usage of terminal automation system enables proper inventory management, record keeping, and automatic scheduling at bulk terminals. In fact, the terminal automation is a major trend in liquid bulk terminals as it deals with high-risk environment, and loading and unloading of various grade liquid bulks, and delivering it in small vessels in precise amount, maintaining high safety and security in the entire operation.
The factors impacting growth varies based on the dynamics of the countries as well. As such, in China, the growth of industrial automation is propelled by an increase in domestic consumption and a drive to improve manufacturing productivity in-country. In Japan, emphasis on lean manufacturing and product quality is one of the key drivers for deploying industrial automation solutions and systems.
3. What is Coherent Market Insights (CMI) USP (Unique Selling Proportion)?
Coherent Market Insights (CMI) is uniquely positioned to help businesses around the globe deliver practical and actionable insights through various recommendations about operational improvements, technologies, emerging market trends and new technological changes.
Our Unique Selling Proportion is our research methodology adopted for the projects. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem. The data analytics techniques, used after the data collection process, enables us to provides the most accurate and actionable insights to our clients.
The company uses various emerging research techniques including micro surveys, text analytics, mobile ethnography, predictive analytics, and big data analytics. As a part of these techniques, we use several statistical methods such as multiple regression, discriminant analysis, factor analysis, cluster analysis, conjoint analysis, which further refines our estimates, analysis, and insights provided to our clients.
In addition to the research methodology, we are known for support services to our clients post project execution, which enables us to retain clients for future businesses. We just not advise but operationalize in our retainer service model.
4. What kind of market reports does your company provide which are both insightful and actionary?
We offer syndicated market research reports to the fortune 1000 companies globally. Having said this, we are known in the industry for offering customized research solutions catering to the client specific research needs. This, in turn, help our clients make critical strategic decisions and create visionary growth plans.
Additionally, we have been helping clients by providing them feasibility studies, go-to-market strategy studies, potential absolute dollar opportunity analysis studies, ecosystem analysis studies (to optimize clients’ operations), future outlook studies, competitive assessment study, risk assessment study, and product positioning studies, and many such consulting assignments.
Our reports are cumulative efforts of paid primary interviews through industry veterans, paid data resources, and in-house research and consulting team with around 14+ years of industry experience. Our in-house expert’s benchmarks “N” number of parameters providing 360-degree analysis from the suppliers and end-user point of view.
5. Would you like to share any of your market report that generated a huge impact on their business?
Client: U.S. based conglomerate in specialty chemical and bulk chemicals
Client Objective: The client wanted to acquire a particular specialty chemical based business segment of a competitive firm. He wanted to understand the market size & growth of industry in the United States over the course of 5 years, industry dynamics, competitive landscape, thesis and risks & mitigations based on the extensive primary interviews from the experts from the industry.
Our Solution: Coherent Market Insights (CMI) had tailor-made its offerings to best fit client’s objective by offering customized and solution-oriented report on Specialty Polymers Market. Our report proved useful to the client with real-time insights and demand-supply details for a host of target markets. In addition to that, we helped the client with competitive intelligence with the same segment, by elucidating the revenues that the competitors’ specialty chemical based business segment contributing, and the absolute dollar opportunity that segment will provide, if acquired by our client. CMI helped the client in understanding his position in the specialty Polymers Market and how his market share would be affected if he went ahead with the purchase decision. Through our actionable insights for the end-use demand of products including surfactants, polymers, and esters for making the purchase decision. The client later acquired the business segment.
Client: A NYSE Stock Listed American company providing specialty medical devices for a range of procedures in critical care and surgery)
Client Objective: The client has a presence in invasive hemodynamic monitoring products. Considering the shifting trend towards minimally and non-invasive techniques, the client was interested in knowing the dynamics of this market and its impact on its well-established brand.
Our Solution: We had prepared a report on ‘Hemodynamic Monitoring Systems Market’ elucidating: Global and regional market size (US$ Million) and growth for invasive, minimally invasive and non-invasive hemodynamic monitoring devices provided in the report. In addition, the market size for different product types, and end users were also provided. Moreover, key developments (M&A, product approvals/launches, drivers, challenges and key trends) in each segment and in each region helped the client understand the market much better and take their strategic decision accordingly. The report enabled the client to plan for their future growth in this market considering the growing number of market players in minimally and non-invasive segments.
Impact: Our report helped the client to devise and streamline their portfolio added through recent acquisition.
6. What’s your vision for Coherent Market Insights (CMI)? And, where do you want to see in the next 5 years?
Vision: To develop long-term and mutually beneficial strategic partnerships with our clients by providing end-to-end customized strategic solutions for all their unique research needs. We aim to cater to 80% of fortune 2000 companies across all verticals, globally, in the span of next 5 years, and act as a strategic market intelligence service provider for them.