AMR assessed the market and solution opportunity for corrosion data and analytics solutions across: oil and gas, chemicals, manufacturing, aerospace, defence and engineering, design and construction, all in North America.
Client and project overview
The client is a global information and analytics company, and a leading provider of scientific and technical information. AMR supported the client with quantitative and qualitative insights on the existing and potential market for corrosion data and analytics solutions and prioritised areas of near term commercial opportunity.
- Who are relevant user personas and what are the primary use cases and user personas?
- How significant are the addressable user segments and markets?
- What workflows are supported, and what major problems are solved by current and potential solutions?
- What is the size of the corrosion data and analytics opportunity?
- How well served is the market with current solutions and to what extent can new solutions displace or play alongside existing solutions?
Highlights of AMR methodology
- AMR evaluated the solution opportunity and prioritised use cases, user personas, user pain points and information needs for the corrosion solution landscape
- AMR prioritised areas of commercial opportunity. For those opportunities, AMR analysed top-down market dynamics for existing corrosion solutions, including market size, key industry trends, competitive landscape and barriers to entry
- The findings were supported by an extensive interview program with corrosion engineers and specialists across the five industries
- High economic costs due to corrosion-related failure has made corrosion management a top business priority for many operators. The market for corrosion management solutions in North America is estimated to be $2.2billion
- A material set of distinct pain points related to corrosion management exist across the different industries. Successfully selling into these markets will require adapting the go-to-market strategy to account for the different purchasing dynamics
- AMR mapped the industry pain points against the client’s proposed product feature set to help the client refine its proposition
- Existing corrosion tools are application-specific and often cater to a specific end market and user type. There is an unmet need in the market for products that offer a wider breadth of functionality and serve multiple end markets and user types
Find out more
For more information about AMR’s work in this field, or for a broader discussion, please email AMR’s Executive Chairman, Denzil Rankine .