Supply market research unlocks new growth opportunity in China for a global elevator leader
The client, a global leader in the elevator industry, approached Asia Perspective as part of a new global strategic initiative to conduct a supply market study.
The purpose was to identify qualified potential partners that can provide integrated smart office solutions in China.
The study consisted of four parts: a market overview, supplier base research & assessment, study of bundled technologies, and recommendations to help the client better understand the market.
Smart office solutions bridge the gap between technology and people, improving workplace utilization and flexibility while creating a more employee friendly environment. The adoption rate for smart office buildings in China was 39% by 2017 and has reached 50% in 2018.
There is a significant growing demand for smart office buildings in first tier cities, while the second and third tier cities demonstrate high potential for projected growth.
The market value of smart buildings is approximately 1 trillion CNY in 2018 with a 20% estimated annual growth forecast.
The project was conducted in three steps: Preparation and Research, Market Study and Final Report. The market study phase included a market overview, a thorough supplier evaluation through phone interviews and site visits, and an in-depth study of bundled technologies conducted via primary research and expert interviews.
The potential suppliers were evaluated based on several key parameters, including company size, business scope, R&D capabilities, and relevant project experiences.
Forecasts anticipate a notable shift in China’s growth of smart office building for the emergence of smart and automated industries in China. The smart office market is diversified and competitive, with great potential.
Four qualified suppliers in China were identified and recommended based on their company profile, R&D capability, and relevant project experience. Further evaluation on cooperation possibilities concerning implementation processes were evaluated and presented to the client.
Asia Perspective conducted a comprehensive market study of smart office solutions in China and provided the client both the overall market review and the in-depth analysis of the new and developing key technologies in China.
The findings in the report provided the client with a comprehensive understanding of the smart office market in China as well as information on potential suppliers/partners, allowing the client to decide the next steps for the global project based on accurate data.