IIR Globe IIR Data IIR
social media icon

IIR Analytics Helps Companies More Effectively Target Attractive Markets and Industries

In today's increasingly competitive, globalized economy, the price of a missed opportunity has never been higher. Shaheen Chohan and the IIR Analytics team are helping clients identify attractive market opportunities and to better size, assess and define the viability of these markets based on data-driven insights.

"The prevailing climate has certainly presented businesses with unparalleled challenges, and business leaders are having to navigate through volatile and uncertain conditions, which may be the fabric of the market for some time to come," Chohan, IIR's vice president of global analytics, said in an exclusive "Navigating the Currents of Change" interview. "More than ever before, there is increasing pressure to make sound business decisions in the face of increasing competitive intensity. Many companies are chasing fewer opportunities, and they have to do that with both shrinking budgets and resources."

IIR Analytics provides a range of customized research services and online reports and analyses geared toward supporting and enabling businesses to make better, more informed fact-based decisions. Leveraging IIR's global plant and project data and unique forecasting statistical modeling and survey tools, IIR Analytics helps customers size their target segments, forecast the current and future spend opportunities for their specific products, equipment and services, and understand the competitive landscape at a global, country or local level.

"We work with clients to support their growth strategies, such as helping them forecast and size market opportunities where they currently operate, but also to assess adjacent markets where they do not," Chohan said.

Market intelligence like IIR's 2011 Global Industrial Outlook report can help companies identify fast-growing markets through IIR's "bottom-up" research methodology. The report provides an in-depth analysis across 12 industrial market segments and includes major project spending statistics by industry, market region and budget type (capital and maintenance activity). Spending statistics are derived from actual projects in more than 60,000 plants worldwide reported by IIR. Quarterly updates throughout the year keep you informed with the latest annual and five-year project spend forecasts and insights into the key drivers shaping the market.

Click to view IIR Table - IIR The 2011 Global Industrial Outlook report highlights an increase of almost 4% in project spending activity globally across all industry segments for 2011. Click on image at right to see IIR's global top-line market spending forecast. The main industry segments grabbing attention are Desalination, Alternative Fuels and LNG, which show an increase in capital and maintenance project spending of 46%, 11% and 6%, respectively.

Click to view IIR Chart - Major 1Q11 Capital Projects by Region Asia continues to present itself with the biggest increase in project spend opportunity, driven by continued government investment into key strategic infrastructure asset classes. Click on image at left to see a summary of major capital projects by region scheduled to kick off during the first quarter of 2011. Across all industries, more than $165 billion of capital projects are scheduled to kick off across Asia during the first quarter of 2011. After Asia, the largest non-U.S. markets for capital spending, measured on a dollar basis during the first quarter of 2011, are South America, Europe and Oceania.

For all of 2011, capital outlays in Asia for the Power Industry are scheduled to top $380 billion versus $70 billion in Europe and $60 billion in North America. Asian capital project spend in Chemical Processing and Petroleum Refining is forecast to reach $82 billion and $40 billion, respectively. The next largest market is North America, where capital spending in 2011 is scheduled to total $21 billion in Chemical Processing and $16 billion in Refining.

In addition to providing insights on macro-level trends, IIR's proprietary forecast modeling helps clients determine the market potential at an individual product, equipment or service level. This tailored analysis provides customers with a unique fact base to support their strategic marketing planning and go-to-market strategies by locating growth "hot-spots" and identifying the longer-term trends.

"We work with clients to support their growth strategies--not only helping them forecast and size market opportunities where they currently operate, but also to assess adjacent markets where they do not," Chohan said.

Each day, IIR's researchers directly survey the key corporate and plant decision-makers responsible for planning, engineering, operations and maintenance, to identify major industrial capital and maintenance, repair and overhaul (MRO) projects. Since the company's inception in 1983, more than 100,000 such reports have been produced, pinpointing capital and MRO spending opportunities at more than 60,000 plants worldwide. Using these project spending reports and additional definitive market research, IIR annually forecasts plant capital and maintenance project spending for the upcoming year.

"We help clients manage the complexity of the research and analysis process, which (for the customer) often requires using multiple sources that use different methodologies and definitions," observed Chohan, who previously had roles with a number of global top-tier strategy consulting firms, as well as managing a Middle East industrial market intelligence firm. "IIR can provide an integrated global picture supported by global data, leveraging our global research teams operating in key strategic locations and using a consistent research methodology and speaking local languages to ensure high-quality factual content is generated."

As important as it is to identify growing segments and markets, the IIR Analytics team also helps decision-makers identify and avoid segments and markets that do not meet the client's business needs. "Ultimately, we help clients understand where they need to allocate valuable and scarce resources," Chohan concluded.

Click here for this and other "Navigating the Currents of Change" webcasts on Industrialinfo.com.

Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. IIR's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.