Asia Market Landscape and Sizing Research
Asia has a ruthless market landscape. Thus, any company wishing to invest there must create an unmatched master plan geared toward winning. It must also be agile.
What is Market Landscape and Sizing?
A market landscape is a unique system. It’s where a company figures out its most important markets or players. It tracks their features, strategies, and strengths. For example, one of the strengths of Asia is its projected market growth in the next few years. Asia still has a fear of virus transmission. This fear has supported the adoption of remote healthcare services. Experts expect the growth rate to speed up due to the surge in demand for certain services. These services include virtual consultancies and electronic medical records. Teleconsultation and virtual fitness platforms are also sought-after in Asia.
Market size denotes the total number of buyers for a potential good or service. It’s also about the revenue a company can expect to make for the forecast period. Market sizing is tallying those numbers to measure your business’s growth potential. Market size analysis will help determine if your company will thrive in a country or area. For instance, Western companies must know the Chinese market’s challenges. Breaking into the China market is an almost impossible task. It’s tough if a company has limited or no business experience there.
Key Success Factors
One must know about the “city tier” system – a ranking of Chinese cities. Tier 2 cities are now seeing rising incomes. This trend has made entering them much more attractive to foreign suppliers. Thus, there is an increase in consumer spending power in these areas. That increase is creating rapid growth in demand for foreign products. Tier 2 cities also have the advantage of lower set-up and operating costs. Cities such as Wuhan, Chongquing, Tianjin, and Chengdu offer opportunities for foreign companies. Dalian, Nanjing, Hangzhou, and Jinan are also excellent entry points. Foreign companies can enter the market across a range of sectors.
Of course, China is only one market. You can also invest in South Korea, India, or any other regional powerhouse.
Why is Asia’s Market Landscape and Sizing Important?
Knowing your market size and the competitive landscape is essential. Companies must have that knowledge before investing in a disruptive business concept. Market size analysis is one of the tools they can use. It can help you determine how much of an impact your product will have on the existing market. It can also tell you what options exist for disruption. For example, the region has a growing number of older consumers. It has also seen increasing adoption of the Internet and smartphones. Both scenarios create openings for market players.
Why Businesses Need Asian Market Landscape and Sizing Research
Market size analysis is not only about profits or revenues. Instead, it’s about knowing the potential of your business idea for the future. Knowledge of the Asia Pacific region will help empower your strategic moves. You’ll need to know its government regulations, competitive scenario, and industry trends. It’s also vital to know the key players operating in the region and their market penetration.
It’s vital to divide your Asian customers into segments. Doing so will help you to understand the target market and how to cater to its needs. Our team aims to increase your market share. We’ll help you find the most worthwhile segments in the market. We’ll also develop strategies to win them and get their loyalty.
About Asia’s Market Landscape and Sizing
Maximize your growth as you enter the Asian market. Let us check the opportunities and possible challenges to address. SIS International helps you develop a clear picture of the potential market size. How? With our Market Sizing Research method. We also help you calculate market growth with Market Opportunity Research. Use our Strategy Market Research to come up with a winning plan.
Our local Asia team helps you by mapping out the other players in the market. The related data allows you to figure out the market size and pricing. We work with you to enable your company to succeed with its investments in Asia.