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Success Story
How AI is being Adopted in the Ear Care Devices Market | Medical Device
Impact
0%
revenue increase in the subsequent year through partnerships with two key AI technology and cloud service partners
0%
market share growth in the subsequent year using a strategic AI-roadmap to leverage innovations in specific offerings
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Client
A global medical devices manufacturer
Products
Ear Care Devices
Industries
Medical Devices
target geo
Global
business objective
- Our client – a leading manufacturer of ear care devices – was facing increasing pressure to maintain its competitive edge in a rapidly evolving market. Competitors were beginning to implement AI to improve R&D in prototyping, real-time hearing adjustments in smart devices, and adaptive sound processing.
- Against that backdrop, the client aimed to conduct a competitor intelligence study to evaluate how AI was being adopted in the ear care devices market, assess its own positioning, and develop a strategy to integrate AI into its operations and monitor its competitors’ AI initiatives in real-time.
Our solution
Using a combination of human and artificial intelligence, Cognition’s team of expert market analysts executed the project using a multi-stage approach:
- Product Portfolio Analysis: In-depth evaluation of the competitors’ product portfolio to analyze how AI was used in R&D in prototyping, real-time hearing adjustments in smart devices, and adaptive sound processing, with a focus on their functionality, innovation, and regulatory approvals.
- Market Impact Analysis: Examined how competitors’ AI-driven initiatives were being received by customers in the market by conducting an in-depth VOC (Voice of the Customer) exercise through 10 expert consultations, and helped the client gauge the success of AI-enabled services in the market.
- Partnership Landscape Analysis: Critically analyzed the partnership ecosystem to understand how competitors were partnering with Cloud Service and AI Technology providers (with a focus on device functionality, and real-time sound adjustments) to develop customized solutions and helped the client identify potential partnerships for its own go-to-market strategy.
Outcome
- 8% revenue increase in the subsequent year through partnerships with two key AI technology and cloud service partners to accelerate the adoption of AI in its device management business line
- 2.5% market share growth in the next two years using a strategic AI-roadmap to leverage innovations in specific offerings and by setting-up real-time monitoring of competitors’ AI initiatives.
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