Technology Benchmarking

Do you need to benchmark your technology/ products with your competitors?

Technology benchmarking is a key strategy/ tool used by corporate either for a second opinion on their current market/ business position or in-case they plan to enter a new territory of business. Technology benchmarking involves identification of key players/ technology based on patent protection, next-generation product/ technology, market positioning, customer range, collaborations/ initiates. Below are the primary reasons for conducting Technology Benchmarking exercise:

  • Investing (Investment/ Venture) into a new business market
  • Second opinion on current market position in existing markets

Our technical team works closely with project owners to conduct a thorough technology benchmarking based on technology/ products, market position in co-relation with changing customer needs. Benchmarking included identification and classification of the top players based on key parameters that are used for the benchmarking. For Example in case of contract manufacturing industry, below mentioned parameters can be of key importance during benchmarking:

  • Production (Manufacturing Capacity, Product range, Cost-advantage)
  • Market position (No. of products, Market leading instances, Customer reach)
  • Technology Expertise (Next-Gen products, Proprietary technologies, Collaborations)
  • Ease of Business (Global locations, Distribution network, Conflict of interest)