What is Tracxn's definition of a Competitor?
A company can be considered to be a competitor, if they are competing for a share of the same customer base or market.
How to view competitors of a company on the Tracxn platform?
To view the competitors of a company on Tracxn platform, you can follow these steps:
a. Go to the profile of the company you are interested in.
b. In the left panel, click on the option “Competitors”.
c. You will now be able to see the competitors of that company.
Alternatively, you can go to Companies Database and apply the filter of “Competitors of” and select the company for which the competitors are required.
How are Competitors derived on the Tracxn platform?
On Tracxn Platform, the Competitors of a company are derived based on the Business model(s) it operates in.
An analyst team looks at each business model (taxonomy node) and based on its target market it defines which other business models it competes with.
The underlying companies in all these competing business models become competitors of each other based on the geographies they serve.
To understand the above logic better, let us consider 2 competing business models (taxonomy nodes) - BM1 & BM2
Following 2 cases can occur:
Case 1 : BM1 & BM2 are geo-agnostic, i.e. they can sell products, solutions or services to the same category of customers globally without being confined to any particular geo or region.
For instance, the Business model of "Insight Software" is geo-agnostic. Thus it can sell its services in any geo globally.
Competitors: If BM1 is marked as competitor of BM2 then all companies in BM1 & BM2 across the world will show as competitor for companies tagged in BM2 (Irrespective of current geographies served by them).
Example :
Insight Software || Geo = US || BM = FinTech > Finance & Accounting Tech > Financial Planning & Analysis > Suite
Pigment || Geo = France || BM = FinTech > Finance & Accounting Tech > Financial Planning & Analysis > Budgeting & Forecasting
Case 2: BM1 & BM2 are geo-dependent, i.e. they can sell products, solutions or services to the same category of customers only in certain geos or regions.
For instance, the Business model of "Uber" is geo-dependent. Thus, it can't sell its services in any geo without regulatory permissions.
Competitors: Companies in BM1 & BM2 are competitors of each other only if they serve in at least one common geography.
Example 1 :
Thus, Uber and Ola are Competitors in Australia and India.