Most provider organizations are very familiar with Gartner Magic Quadrants and Hype Cycles (which I explored from a provider perspective in a recent post and Webinar and have just had research published, that was co-authored with Betsy Burton, exploring ways provides can leverage Hype Cycles–subscription required). But there is another somewhat less well known research series that may be even more important- Gartner IT Market Clocks.
Gartner IT Market Clocks explore the entire life cycle of technology assets–from introduction to replacement and obsolescence. They are designed primarily for buyers, to help them plan investment, and divestment, strategies for their technology portfolio. Market clocks also explore relative commodization of asset groups, helping buyers evaluate their ability to influence price reductions.
As with Hype Cycles, IT Market Clocks can also be used by providers, something that I explore in another piece of just published research (co-authored with Monica Basso and Tiffani Bova, again a Gartner subscripiton is required). The research provides advice for providers as their products and services move around the clock.
One of the most important area of recommendations, and what makes Market Clocks, so valuable, is around how to deal with assets that are in or approaching the replacement stage. We are at a point in market evolution where many technology markets are seeing a significant portion of new revenue and growth coming from system replacement. Market clocks show you where the replacement opportunities are today, and which ones will be coming soon.
They illustrate both opportunities for you to move customers away from competitors products and for you, as the incumbent, to execute strategies to preserve that customer and move them to your own replacement products.
This year’s market clocks are starting to publish. Do yourself a favor and explore those that are relevant to your business and refine your strategies accordingly.
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