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The competitive landscape analysis helps you understand all the significant players in a specific market, and helps you identify new competitors to keep your eye on.
You must determine how you compare to your competition after you are aware of the technology they use. This gives you a sense of the portfolio strengths and weaknesses of your competitors and shows where their innovation efforts are being focused. R&D executives can use this data to gain the insights they need to concentrate on the technological areas where they should generate ideas.
To get ahead of the competitors, whitespace can give R&D the validation they need. Such insights help you identify the areas that your competitors might not have tapped into yet.
They indicate which technology areas may be either out of bounds for your R&D teams due to high risk, or those that remain untapped by your competitors. It gives R&D leaders the ability to assess new competitors and confirm the most crucial patents in your rivals’ patent portfolio that you should either avoid or copy.
Understanding the markets your competitors operate in is important. Looking at trends in specific markets of competitors and easily identify the competitor strategy.
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