Identification of the US market potential for FluidDraw

EXECUTIVE SUMMARY

This working paper was developed in cooperation between the Institute of Entrepreneurship and Innovation at Vienna University of Economics and FESTO SE. Although FESTO is a major player in the DACH industry, it is currently facing a barrier that is impeding its success in the US. Despite FluidDraw, their CAD software, being one of the best circuit drawing software available in the CAD industry, its market presence is still being overlooked. Therefore, it is crucial to investigate the US market and understand the industry dynamics to offer a sustainable strategy to increase not only the presence but also the market share of FluidDraw.

Goal

The main goal is to strategically position FluidDraw for successful entry and expansion in the U.S. market, particularly targeting the engineering and automation sectors. This involves not only recognizing market potential but also adapting to the unique challenges and opportunities presented by the U.S. market landscape.

Methodology

The assessment of the market analysis was based primarily on detailed discussions with FESTO managers and the FluidDraw development team. These interviews provided deep insights into the product's technical capabilities and potential areas for adaptation. Complemented by a thorough research through secondary data and analysis of the U.S. market environment and competitive landscape, this approach ensured a grounded understanding of the strategic direction and recommendations.

Results

The analysis underscores a significant opportunity for FluidDraw in the U.S. market. The U.S. sectors requiring advanced engineering tools show a high receptivity to innovative software solutions like FluidDraw. Key recommendations include product customization to align with U.S. industry standards, aggressive marketing strategies, and sales approaches tailored to the unique characteristics of the U.S. market.

Cooperation Partner

• Festo SE & Co. KG
  Ruiter Straße 82
  73734 Esslingen
  Germany
  www.festo.com/at/de/

Contact Person

• Jacob Decker
  jacob.decker@festo.com

Student Team

• Iris Shkëmbi

• Triumf Pllana

• Philipp Sabelko

• Bence Pataki

• Mavie Thaler

• Christian Kröncke
   

Project Manager

• Caroline Fabian, M.Sc., M.Sc.

• Shtefi Mladenovska, M.Sc.