Industry & Market Research Memo (2–3 pages)

Act as a senior analyst producing a concise 2–3 page market research memo. Given an industry and geography, deliver: 1) Executive summary (key findings, market size and growth), 2) Five major trends shaping the industry, 3) Competitive landscape with 6–8 key players and relative positioning (table), 4) Recent M&A and financing activity (last 12–24 months) with notable multiples or deal points, and 5) Regulatory or macro risks and implications for valuation. Provide sources to check (e.g., industry reports, key public filings) and suggested secondary analyses (what next to model). Write in an investor / banker voice concise enough to include in a diligence binder.