Frost Radar™:
Digital Industrial
Platforms, 2022
A Benchmarking System
to Spark Companies to
Action—Innovation that
Fuels New Deal Flow and
Growth Pipelines
Global Industrial Automation &Process Control Research Team at
Frost & Sullivan
0000-00

K76A-102022

Introduction• This Frost RadarTM on digital industrial platforms was conceived and built as the competitive
benchmark analysis derived from Frost & Sullivan’s Global Digital Industrial Platforms Growth
Opportunities study published in March 2022.
• Frost & Sullivan defines digital industrial platforms as systems and tech stacks (comprising devices,sensors, actuators, hardware, and/or software) that allow the collection, storage, transformation,
contextualization, and integration of data from a diverse set of industrial assets. By leveraging thelatest advancements in device management, telecommunications, cloud and edge computing,cybersecurity, data management, analytics, digital twins, open architecture, and no-code/low-code(NC/LC) application frameworks, these platforms help industrial environments to establish andmanage effective, trusted, and secure interactions within the digital ecosystem of people, assets,
data, operations, processes, and businesses to deliver actionable insights that support businessdecision-making. The goal is to create intelligent, autonomous, agile, efficient, and sustainable
operations.
• This Frost RadarTM features what Frost & Sullivan considers to be the top 33 companies in thedigital industrial platform ecosystem in 2022 in terms ofo growth trajectory over the past four years,o growth potential,
o market presence and influence, ando the ability to innovate and disrupt the market.
Source: Frost & Sullivan

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Introduction (continued)• Each industry has a unique history, current state, dynamics, and competitive structure; thecompanies that operate in it face particular challenges and have distinct opportunities toremain relevant or further separate from the pack. While Frost RadarTM deliverables have astandard format, the content itself reflects these singular characteristics and demonstrates why
Frost & Sullivan is the leader in determining and providing strategic solutions for how to improve
the growth and innovation focus of the participants. This dynamic solution offers frequent rating
and positioning of those companies that are agitating, disrupting, or revolutionizing the industry
landscape.
• This Frost RadarTM is not intended to be just the top players’ digital industrial platform offeringsfor comparison and benchmarking or merely an evaluation of the technical and technologicalfeatures, capabilities, and specifications of such platforms; what this study offers is acomprehensive performance analysis and assessment of the top companies in terms of
their growth strategies, innovation focus, product portfolio, customer alignment, Mega Trends
leverage, and other categories.
• Based on Frost & Sullivan’s proprietary research methodology and algorithm, the robust
Frost RadarTM analytical platform calculated and assigned a Growth Index (GI, X-axis) and an
Innovation Index (II, Y-axis) score ranging from 1 to 5 to each company based on the analysisof 10 criteria (refer to the Frost RadarTM Analytics section of this report for further details).
The intersection of both scores determined each company’s position on the Frost RadarTM.

Source: Frost & Sullivan

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Introduction (continued)
The Frost RadarTM is divided into four areas categorizing the market players according to their position.
• Trailblazers: The best overall performers.
They have an outstanding combined
performance in both business growthand innovation strategy.
• Innovators: These companies haveexcelled in their innovation strategy; theyare (and have the potential to continue tobe) true industry disruptors.
• Torchbearers: The fast-growing companies.
Their growth pace and strategies are rolemodels for the industry.
• Agitators: Although strong competitors,
these companies have room for
improvement in terms of growth andinnovation strategies.

Source: Frost & Sullivan

K76A-104Strategic Imperativeand Growth
Environment

5Strategic Imperative
In the early 2010s, the 4th Industrial Revolution (commonly known as 4IR or Industry 4.0) created a new era for
manufacturing, automation, and supply chain processes, with digital transformation and the Industrial Internet ofThings (IIoT) as its main drivers. Since then, companies across the industrial realm have been experiencing
significant challenges, reshaping their businesses and operations to stay competitive and adapt to this newparadigm.
• The exponential adoption of disruptive technological advancements such as artificial intelligence (AI), machinelearning (ML), Big Data management, advanced analytics, cloud/edge computing, digital twins, virtual/augmented/mixed reality (VR/AR/MR), and intelligent sensors, among others, has made possible the transition
from automation to digitalization, opening the door for a data-driven industry.
• The 4IR has also brought continuous momentum for industrial initiatives such as the use of open communication
protocols and standards capable of handling and processing the enormous amount of data generated by IIoT
devices, the achievement of systems interoperability among process automation technologies, the need for aconvergence between information and operational technologies (IT and OT), and the development ofapplications in an LC/NC environment.
• The exposure of OT networks and legacy equipment to IT-oriented cloud/edge environments and the adoptionof cellular and wireless communication technologies (LTE, 5G, Wi-Fi) on the factory floor have increased thecyberattack surface. In response to this threat, cybersecurity has become an industry imperative.
As one of the major technological breakthroughs derived from 4IR, Digital Industrial Platforms were conceived toembrace and fully exploit those technologies in order to address those challenges.
Source: Frost & Sullivan

K76A-106Strategic Imperative (continued)
Digital industrial platforms have created a market dynamic defined by forces that are transforming the industrial
space.
• Disruptive Technologies enable a new shop floor infrastructure and communications paradigm, paving the way
for data-driven businesses where actionable insights lead to optimum productivity, efficiency, quality, safety,
reliability, and profitability.
• Innovative Business Models are based on two main premises: XaaSification and servitization, where end users
pay only for what they consume on a subscription basis. These models allow for more predictable revenue
streams, faster returns on investment (RoI), and enhanced customer satisfaction.
• Transformative Mega Trends force the industrial space to focus on sustainability and net zero initiatives as wellas continue the technological evolution from automation to autonomous operations.
• Competitive Intensity as a result of a highly
fragmented landscape where traditional industrial
automation vendors coexist with hyperscalers, IT
companies, and disruptive tech start-ups, leading
to mergers and acquisitions (M&A) or strategic
partnerships, forming a revolutionary“coopetition” ecosystem.
• Internal Challenges where organizations must
face and address critical issues such as talent
shortages, remote operations, and resistance toadopting new technologies and ways of working.
Source: Frost & Sullivan

K76A-107Strategic Imperative (continued)
From a technology perspective, Frost & Sullivan sees the digital industrial platforms entering a third evolutionary
stage characterized by• a switch in focus and core features from “connectivity of things” (stage 1) and data operations (stage 2) toindustrial analytics,• hyperscalers’ increasing involvement in manufacturing,• scalability to production levels, and• development of sustainability-driven apps.

Source: Frost & Sullivan

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Growth Environment
Digital industrial platforms market revenue stood at $5.8 billion in 2021. Frost & Sullivan anticipates $14.21 billion
in annual revenue by 2026, with a compound annual growth rate (CAGR) of 19.6% from 2021 to 2026. The market
is in the growth phase despite some perplexity and reluctance among business leaders due to challenges related todata security, deployment complexity, and high implementation costs. The continuous development of cloud/edge
computing, Big Data, AI, robotics, digital twins, AR/VR/MR, cybersecurity, communication protocols (including 5G,
Wi-Fi 6, Wi-Fi HaLow, TSN, MQTT, and OPC UA), and intelligent sensors will continue to drive market growth.
Among the most relevant non-technological growth enablers are M&A and partnerships, new practices propelledby the COVID-19 pandemic such as remote work and remote operations, the growing need for centralized asset
monitoring and predictive maintenance, macroeconomic factors such as commodity price fluctuations and higher
demand in the oil and gas industry, and the sustainability Mega Trend that focuses on carbon footprint reduction,
net zero initiatives, and the circular economy.
Frost & Sullivan’s research on digital industrial platforms revealed the following:• North America is the largest market because of its vast manufacturing installed base, the presence of numerous
platform companies, its modern and robust communications infrastructure, and a high degree of technologicaldevelopment.
• Asia-Pacific (APAC) is the fastest-growing market because of the emergence of several platform start-ups with asubstantial adoption rate from manufacturing and industrial companies.
• Process industries is the highest-growth segment.
• Edge-based device management is the highest-growth platform type.

Source: Frost & Sullivan

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Frost Radar™
Digital Industrial

Platforms

10Frost Radar™: Digital Industrial Platforms

Source: Frost & Sullivan

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11

Frost Radar™: Competitive Environment
Digital Industrial Platforms

Hyperscalers

OT
Vendors

IoT/OT
Vendors

Niche
Vendors

IoT/IT
Vendors

Telco
Providers

Hardware/DeviceProviders

ERP
Vendors

SystemIntegrators

Consulting
Services

IoT
Platforms

DeviceManagement

Connectivity
Management

Data
Management

Data
Analytics

Application
Management

Cloud-based

Industrial
DataOpsEdge-based• Hyperscalers provide the cloud resources and services to build industrial platforms.
• OT Vendors include traditional industrial automation and industrial software companies. They have plant floor expertise and OT
domain knowledge.

• IoT/OT Vendors are IoT-native companies with a robust OT background.
• Niche Vendors are IT-native companies with specific industrial domain expertise (serving specific OT use cases).
• IoT/IT Vendors include agile and dynamic start-ups, disrupters, and IoT natives. They are strong in one or more platform capabilities.
Source: Frost & Sullivan

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12

Frost Radar™: Competitive Environment (continued)• In a highly fragmented and heterogeneous market with a universe of more than 600 players ranging fromhyperscalers and OT vendors to IoT/IT companies, a subset comprising the 65 major market participants in termsof revenue and market share (sliced by player category and platform type) were invited to participate in abriefing session as part of the research scope of the Global Digital Industrial Platforms Growth Opportunities
study. According to Frost & Sullivan’s definition of digital industrial platforms, this research service considered
only those companies with any of the following subscription-based XaaS offerings:
o Infrastructure as a service (IaaS)
o Platform as a service (PaaS)
o IaaS + PaaS
o PaaS + Software as a service (SaaS)*• While many companies shared meaningful qualitative and quantitative insights and data, others either did not
respond, chose not to participate, or would not provide any data to substantiate growth strategy, revenue, or
innovation strategy in the global market.
• After a comprehensive analysis of their performance focused on this report’s 10 analytical criteria,
Frost & Sullivan independently plotted 33 of the most significant companies in 2022 in this Frost RadarTM
analysis, earning the status of market powerhouses from a growth and innovation strategy perspective.

Key: *Pure SaaS solutions are not covered.

Source: Frost & Sullivan

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Frost Radar™: Competitive Environment (continued)
Featured Companies on the Frost RadarTM for Digital Industrial Platforms
Tier*

Public orPrivateFrost RadarTM
Category

Company

Offering

Company
DomainABB

AbilityOT

PaaS/SaaS

1

PublicInnovator

AltairSmartWorks IoT

IoT/OT

PaaS/SaaS

2

PublicInnovator

Altizon Systems

DatonisIoT/OT

PaaS/SaaS

3

PrivateInnovator

AmazonAWSHyperscaler

IaaS/PaaS

1

PublicTrailblazer

Braincube

Smart IIoT Platform

IoT/OT

PaaS/SaaS

3

PrivateInnovator

C3 AI

C3 AI Suite

IoT/IT

PaaS/SaaS

2

PublicTrailblazer

ClearBlade

ClearBlade Edge Platform

IoT/IT

PaaS/SaaS

3

PrivateInnovator

Cloudera

Cloudera Data Platform

IoT/IT

PaaS/SaaS

2

PrivateAgitator

CogniteData Fusion

IoT/IT

PaaS/SaaS

3

PrivateTrailblazer

ConsystIIoTNext Platform

IoT/OT

PaaS/SaaS

3

PrivateAgitator

Davra

Davra IoT Platform

IoT/IT

PaaS/SaaS

3

PrivateInnovator

XaaS Type

Key: *Tier 1: FY 2021 Platforms BU Revenue >$1 B | Tier2: FY 2021 Platforms BU Revenue = $100 M–$1 B | Tier 3: FY 2021 Platforms BU Revenue < $100 M.

Source: Frost & Sullivan

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Frost Radar™: Competitive Environment (continued)
Featured Companies on the Frost RadarTM for Digital Industrial Platforms
Company
DomainXaaS Type

Tier

Public orPrivateFrost RadarTM
Category

Company

Offering

EmersonPlantweb Optics

OT

PaaS/SaaS

1

PublicInnovator

Factana

Fogwing

IoT/IT

PaaS/SaaS

3

PrivateAgitator

FogHorn

Lightning Edge AI

IoT/IT

PaaS/SaaS

3

Public*Innovator

FORCAMFORCE IIoT

IoT/IT

PaaS/SaaS

3

PrivateInnovator

GE Digital

PredixOT

PaaS/SaaS

2

PublicInnovator

GoogleGoogle Cloud Platform

Hyperscaler

IaaS/PaaS

1

PublicTrailblazer

HighByte

Intelligence Hub

IoT/IT

PaaS/SaaS

3

PrivateInnovator

HitachiLumadaIoT/OT

PaaS/SaaS

1

PublicInnovator

Honeywell

Forge

OT

PaaS/SaaS

1

PublicTrailblazer

Litmus Automation

Litmus Edge

IoT/OT

PaaS/SaaS

3

PrivateTrailblazer

MachineMetrics

MachineMetrics IIoT

IoT/IT

PaaS/SaaS

3

PrivateInnovator

Key: *FogHorn, originally a privately held company, was acquired by public company Johnson Controls in January 2022.

Source: Frost & Sullivan

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Frost Radar™: Competitive Environment (continued)
Featured Companies on the Frost RadarTM for Digital Industrial Platforms
Tier

Public orPrivateFrost RadarTM
Category

Company

Offering

Company
DomainMicrosoft

Microsoft Azure

Hyperscaler

IaaS/PaaS

1

PublicTrailblazer

PTC

ThingWorxOT

PaaS/SaaS

2

PublicTrailblazer

Rockwell Automation

Innovation Suite

OT

PaaS/SaaS

1

PublicInnovator

Schneider Electric

EcoStruxure

OT

PaaS/SaaS

1

PublicTrailblazer

Siemens DI Software

MindSphere

OT

PaaS/SaaS

1

PublicTrailblazer

Software AG

Cumulocity IoT

IoT/IT

PaaS/SaaS

2

PublicTrailblazer

Telit

deviceWISE

IoT/IT

PaaS/SaaS

3

PrivateInnovator

Tulip

Tulip Platform

IoT/IT

PaaS/SaaS

3

PrivateInnovator

UnifyTwin

Intelligent Industrial
Suite

IoT/IT

PaaS/SaaS

3

PrivateInnovator

UptakeFusionIoT/OT

PaaS/SaaS

2

PrivateTorchbearer

Yokogawa

Yokogawa CloudOT

PaaS/SaaS

1

PublicInnovator

XaaS Type

Source: Frost & Sullivan

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Frost Radar™: Competitive Environment (continued)
Competition in this market is aggressive. Consequently, most significant players have developed
noteworthy innovation capabilities and performed quite well on innovation overall, showing scores
between 3.0 and 4.5 (out of 5), thus clustering in the Innovators area. Six of them, however, standout as role models in Innovation, with a score above 4.55: Amazon Web Services (AWS), Microsoft,
Siemens Digital Industries Software, Schneider Electric, Cognite, and Honeywell. Companies leading
in innovation have
• implemented a world-class innovation process with a direct impact on the growth of theircustomer base and revenue across core, adjacent, and greenfield markets;• resource assignation to research and development (R&D) departments (R&D expenses/revenues
ratio) way above the industry average;• demonstrated a relentless focus on maintaining overall product leadership by leveraging theirhuge solution offerings to maximize revenue across the entire market;• proactively leveraged Mega Trends to develop new technologies, revenue streams, and businessmodels, being renowned for a visionary, long-term strategic outlook;• demonstrated superior customer service and customer satisfaction strategies; and• applied the latest technological advancements into their solution portfolio, with a particular focus
on many of the latest industrial trends such as openness and interoperability.
The Frost Radar™ measures growth rates from the last four years in addition to absolute revenue andmarket share (sliced by player category and platform type) and combines them with several otherfactors to measure companies’ performance along the Growth Axis.
Source: Frost & Sullivan

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Frost Radar™: Competitive Environment (continued)
While most companies performed relatively well on Growth overall, 11 excelled with scores greaterthan 3.0 (out of 5): AWS, Microsoft, Google Cloud Platform (GCP), Cognite, Schneider Electric,
Siemens Digital Industries Software, PTC, C3 AI, Litmus Automation, Honeywell, and Software AG.
Companies leading in growth have• demonstrated leading year-over-year (YoY) growth rates in their platform solutions businessduring the previous four years, measured in CAGR;• either been affected by the COVID-19 pandemic but quickly rebounded or suffered no negative
effects, even accelerating and expanding their growth rates;• early and successfully penetrated consolidated and well-established verticals, such as process,discrete, and hybrid industries;• developed a customized value proposition for fast-growing segments (e.g., iFactory, connectedassets, smart manufacturing, remote operations, and worker safety);• demonstrated customer acquisition rates higher than the industry average;• benefited from a large market share in several segments;• enjoyed strategic M&A and partnerships over the past 18 years that contributed to increasing
their market share and domain expertise and, in some cases, boosted their market capitalization(Cognite, for instance, has reached unicorn status [a start-up whose value is greater than
$1 billion] in just five years of existence;• leveraged a robust growth pipeline system with strong investment in emerging markets; and• become a benchmark in the industry for their dynamic vision, strategy, and execution excellence,
demonstrating an ability to continually scale their businesses and diversify their offerings.
Source: Frost & Sullivan

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Frost Radar™: Competitive Environment (continued)
These companies emerged as overall Frost RadarTM
Trailblazers in 2022 with high growth rates and a focus
on industry innovation and disruption: AWS,
Microsoft, Siemens Digital Industries Software,
Cognite, Google, Schneider Electric, Honeywell, PTC,
Litmus Automation, C3.AI, and Software AG.
Hyperscalers

Cognite is a privately held company reaching the statusof Trailblazer in the Frost RadarTM. In just six years ofexistence, Cognite has reached unicorn status becauseof its outstanding
growth and innovation strategies, which included
several successful funding rounds and the participationof Saudi Aramco, the largest energy company
worldwide, as a shareholder. Its Data Fusion industrial
DataOps platform offers the finest data
contextualization and data templatization services in
the industry and is the ultimate expression of thelatest applied science and technology trends in theindustry.
Source: Frost & Sullivan

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Frost Radar™ Innovation Index Ratings
0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

5

Amazon Web Services
Microsoft Azure
Siemens Digital Industries Software
Schneider Electric
CogniteHoneywell
Google Cloud
HitachiRockwell Automation
PTC
ABB
Litmus Automation
AltairSoftware AG
Tulip
HighByte
Braincube
MachineMetrics
Davra
C3 AI
FogHorn
ClearBlade
Altizon Systems
FORCAM
GE Digital
Telit
Yokogawa
UnifyTwin
EmersonConsystUptakeCloudera
Factana
Source: Frost & Sullivan

K76A-1020

Frost Radar™ Growth Index Ratings
0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

5

Amazon Web Services
Microsoft Azure
Google Cloud
CogniteSiemens Digital Industries Software
PTC
Schneider Electric
Litmus Automation
C3 AI
UptakeHoneywell
Software AG
Tulip
Rockwell Automation
FORCAM
UnifyTwin
AltairHitachi
HighByte
Factana
ConsystBraincube
FogHorn
Telit
MachineMetrics
Altizon Systems
Cloudera
Emerson
ABB
Davra
ClearBlade
Yokogawa
GE Digital
Source: Frost & Sullivan

K76A-1021

Companies to Action
Companies to Be Considered First for
Investment, Partnerships, or Benchmarking

22

Trailblazers

123

Cognite
INNOVATIONGROWTHFROST PERSPECTIVE• Founded in 2016 and headquartered in
Norway, Cognite quickly established itself as amarket-disrupting DataOps and AI software
company focused on heavy-asset industries.

• Since its inception, Cognite has experienced
a stellar growth journey, shown by an
outstanding 56.0% CAGR in revenue for the
2018-2021 period and reaching a market
capitalization of $1.6 billion (earning
unicorn status) after raising $338.2 million
over four funding rounds.

• From a technical perspective, besides its
portfolio of proprietary applications,
CDF supports the integration of open,
third-party applications. At the same time,
Cognite remains agnostic, fully supportive,
and open to connecting to any third-party
LC framework.

• Another example of Cognite’s vertiginous
growth has been its close business
relationship with Saudi Aramco (the largest
energy company worldwide), which
acquired a 7.4% stake in Cognite. The
companies recently launched CNTXT, a joint
venture based in Saudi Arabia to support
industrial digitalization in the Middle Eastand North Africa region.

• Cognite’s staff has at least 10 Olympiad
medalists in International Informatics, andabout 15% of its workforce has earned a
Ph.D., exemplifying the team’s domain
knowledge, talent, skills, and capabilities.
Few companies in the industrial space canclaim such a scientific level of expertise.

• Cognite Data Fusion (CDF) is an open, LC, andcloud-based DataOps platform that has madea huge impact in the industry through aninnovative use of data science, ML, deeplearning, neural networks, 3D-renderedvisualization, a unified industrial knowledge
graph, and state-of-the-art data
contextualization and templatization services.
• Cognite continually invests in fundamental
technologies that enable the capabilities andfeatures that customers need. The company
invests in leadership geared toward productmanagers and designers, training them tounderstand the value of design and toevaluate ideas efficiently as they come down
the creativity pipeline.

• Customer acquisition and retention are
metrics in which Cognite excelled in FY
2021, doubling its customer base andshowing 93% in gross retention and 121%in net retention.

• From a market presence standpoint,
Frost & Sullivan recognizes Cognite’s efforts
to increase its footprint outside Europe(particularly in APAC and Latin America) andto expand its industry presence into themining and renewables verticals to enhance
its business volume and market share.

Source: Frost & Sullivan

K76A-1024

Strategic
Insights25

Strategic Insights
Frost & Sullivan has identified three key action areas for companies to focus, invest, and succeed in this highly
fragmented, strongly competitive market.

1

M&A and Strategic Partnerships: These are essential for establishing leadership, outperforming the competition, andgaining market share. Over the past 18 months, more than 50 significant inorganic growth transactions have taken place
among the companies featured in this Frost RadarTM:• Usually, Tier 1 or Tier 2 companies acquire Tier 3 (or even smaller) companies. A Tier 1/2 company’s product portfolio
and customer base expand along with its domain expertise; typically, it also will increase its market share.
• Either OT or IT Tier N vendors partner with hyperscalers to make use of their robust infrastructure and cloud platform
services and capabilities. OT Tier 1 or Tier 2 companies partner with niche companies to gain specific use case domain
expertise.

2

Edge-based Platforms: One of the fastest-growing platform-related markets, the edge is revolutionizing operations byproviding lower latencies, enhanced security, reduced bandwidth, increased speed, scalability, and better data management
capabilities. Frost & Sullivan has estimated a CAGR of 33% for the edge analytics market for the 2019-2025 period* driven
by edge computing infrastructure.

3

Focus on R&D and Sustainability: R&D investment (achieving above-average R&D expenditures/revenue ratios) is
mandatory for leveraging incipient, disruptive, and science-based technologies that constitute the core feature of digitalindustrial platforms and ultimately are the competitive differentiators. Platforms with industrial data analytics capabilities
hosting sustainability-driven apps allow the reduction of energy consumption and greenhouse gas emissions toward theachievement of net zero goals.

Key: *Growth Opportunities in the Global Edge Analytics Market, Forecast to 2025 (October 2020).

Source: Frost & Sullivan

K76A-1026

Next Steps:
Leveraging the Frost
Radar™ to Empower
Key Stakeholders

27

Significance of Being on the Frost Radar™
GROWTH POTENTIAL
Your organization has significant future growth potential, whichmakes it a Company to Action.

BEST PRACTICES

Companies plotted on the
Frost Radar™ are the leadersin the industry for growth,
innovation, or both. They are
instrumental in advancing theindustry into the future.

Your organization is well positioned to shape Growth Pipeline™ bestpractices in your industry.

COMPETITIVE INTENSITYYour organization is one of the key drivers of competitive intensity inthe growth environment.

CUSTOMER VALUEYour organization has demonstrated the ability to significantly
enhance its customer value proposition.

PARTNER POTENTIAL
Your organization is top of mind for customers, investors, value chain
partners, and future talent as a significant value provider.
Source: Frost & Sullivan

K76A-1028

Frost Radar™
Analytics

29

Frost Radar™: Benchmarking Future Growth Potential
2 Major Indices, 10 Analytical Ingredients, 1 Platform
GROWTH INDEX ELEMENTS
VERTICAL AXIS
Growth Index (GI) is a measure of
a company’s growth performanceand track record, along with its
ability to develop and execute afully aligned growth strategy andvision; a robust growth pipeline™
system; and effective market,
competitor, and end-user focusedsales and marketing strategies.

• GI1: MARKET SHARE (PREVIOUS 3 YEARS)This is a comparison of a company’s market share relative to its
competitors in a given market space for the previous 3 years.

• GI2: REVENUE GROWTH (PREVIOUS 3 YEARS)This is a look at a company’s revenue growth rate for the previous 3 years
in the market/industry/category that forms the context for the given
Frost RadarTM.

• GI3: GROWTH PIPELINE™
This is an evaluation of the strength and leverage of a company’s growth
pipeline™ system to continuously capture, analyze, and prioritize its
universe of growth opportunities.

• GI4: VISION AND STRATEGYThis is an assessment of how well a company’s growth strategy is alignedwith its vision. Are the investments that a company is making in new
products and markets consistent with the stated vision?

• GI5: SALES AND MARKETING
This is a measure of the effectiveness of a company’s sales and marketing
efforts in helping it drive demand and achieve its growth objectives.
K76A-1030

Frost Radar™: Benchmarking Future Growth Potential
2 Major Indices, 10 Analytical Ingredients, 1 Platform
INNOVATION INDEX ELEMENTS
HORIZONTAL AXIS
Innovation Index (II) is a measureof a company’s ability to develop
products/services/solutions (witha clear understanding of
disruptive Mega Trends) that are
globally applicable, are able toevolve and expand to serve
multiple markets, and are aligned
to customers’ changing needs.

• II1: INNOVATION SCALABILITY
This determines whether an organization’s innovations are globally
scalable and applicable in both developing and mature markets, and also
in adjacent and non-adjacent industry verticals.

• II2: RESEARCH AND DEVELOPMENT
This is a measure of the efficacy of a company’s R&D strategy, as
determined by the size of its R&D investment and how it feeds theinnovation pipeline.

• II3: PRODUCT PORTFOLIOThis is a measure of a company’s product portfolio, focusing on therelative contribution of new products to its annual revenue.

• II4: MEGA TRENDS LEVERAGE
This is an assessment of a company’s proactive leverage of evolving,long-term opportunities and new business models, as the foundation of
its innovation pipeline. An explanation of Mega Trends can be found here.

• II5: CUSTOMER ALIGNMENTThis evaluates the applicability of a company’s
products/services/solutions to current and potential customers, as well as
how its innovation strategy is influenced by evolving customer needs.
K76A-1031

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K76A-1032