– Increased understanding of the market: Industry research can help businesses to understand the size and growth potential of their target market, as well as the competitive landscape. – Improved decision-making: Industry research can provide businesses with the information they need to make informed decisions about their products, services, and marketing strategies. – Identify new opportunities: Industry research can help businesses to identify new market opportunities, such as new products or services that are not currently being offered. – Reduced risk: Industry research can help businesses to reduce the risk of making poor decisions by providing them with insights into the market.