A competitor analysis is a type of market research that is used to gain a competitive edge in the market. It helps companies identify their competitors’ strengths and weaknesses, as well as their target markets and customers. The goal of a competitor analysis is to provide insights into the current state of the industry, enabling companies to make strategic decisions about how they will compete in the future. The analysis can also be used for benchmarking purposes, which can help companies understand how they stack up against their competitors in terms of performance and success.