Industry Challenges are issues or events that are making things difficult for companies in that industry. An industry challenges project identifies current problems faced by a certain segment of the industry (e.g., distribution) or the industry as a whole. Challenges are also referred to as pain points or restraints.

Industry Opportunities are events and circumstances that can potentially open up new income streams or growth possibilities for companies in that industry. This type of project identifies current opportunities that are available to explore within an industry.

<aside> ⚠️ While challenges and opportunities are two different project types, both are researched in a similar way, which is why we have discussed these two project types on the same page. Be sure to focus on your exact Research Criteria and only provide information relevant to your research. Also, don’t confuse a SWOT analysis project with an industry opportunities project, as they both vary based on the amount and type of information required.

Minimum Requirements

• Provide 2-3 challenges or opportunities per 3-hour request.
• For each provide:
  • Describe the challenge or opportunity (minimum of 3-5 sentences)
  • Explain how the challenge or opportunity is impacting the industry. (minimum of 2-3 sentences.
  • Describe measures being adopted to counter the challenge or take advantage or the opportunity. (minimum of 2-3 sentences)
• Provide a minimum of one image per 3-hour request. If possible, add an image for each concept discussed.
• Note: Clients may also refer to a challenges or industry challenges project as “industry restraints.”

Identifying Industry Challenges/Opportunities

• Always start with a direct search using keywords and search strings. If you cannot find information through a general search, use more specific search strings, Boolean, and X-ray searches, as well as filters to pull relevant results.

  <aside> 🧠 Note: Search strings and advanced search methods e.g., X-ray and Boolean search are tools, not strategies. Do not mention these in your research reports. Instead, mention the publishers of the resources, reports, and databases consulted (e.g., International Data Group (IDG)).

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• Use market research and business databases such as IBISWorld and ReportLinker to find market research reports on your topic. MIT Libraries and UBC Library provide a comprehensive list of industry-specific market research databases.

• Most market research reports identify challenges/opportunities in the preview of the report, even if the full report is paywalled. Use these reports as a starting point and then corroborate and enhance your findings using reputed news and media articles.

• Review publications such as annual reports, whitepapers, surveys, newsletters, and magazines from trade associations in the industry. For example, the American Dental Association publishes the Economic Outlook and Emerging Issues in Dentistry survey every month that can provide valuable information for the dental industry.

• Look for industry reports from key players and consulting firms such as EY, Deloitte, PwC, and Accenture. These reports often provide challenges/opportunities in the industry.

• Use expert interviews and news and media articles to identify challenges/opportunities and/or examples to support them.

  • Review interviews by industry leaders where they elaborate on the challenges they (or the industry) face or the opportunities they are seeing. `

• Look into investor presentations, annual reports, and other documents by leading players in the industry to understand the challenges, pain points, and restraints they are going through, or the opportunities they have identified.

• Look for opportunities within the new, emerging, or evolving segments of the industry.

  • Are there any segments that are growing faster than the overall industry?
  • Are there any segments that are transforming?
  • Are innovations and disruptions in a certain segment opening up new possibilities?