Valorisation Plan: Market Potential
SECTION I: The product
|1a||The innovation potential of this product is related to:
|The innovation potential is based on research and the development of science and the research result is a technologically driven development. There is on the other side also a strong market demand since solutions for disasters such as forest fires or floods are needed and there is a potential that this development leads to a product that could replace other products that are already in use.
|1b||What added value for end-users does the product hold?
• higher quality
• Better technical characteristics
• Other …
|The added value of this product lies in its performance which would also allow to offer higher end services to clients and users.
|1c||What is the Unique Sales Proposition of the potential product?|
|The unique sales proposition of this product would be processing of satellite images in real time and with high performance to provide real time analysis and solutions in case of disaster or other events where real time analysis of satellite images is needed.
SECTION 2: The Market
|2a||What is the target market for the product?
Please describe the characteristics of your target market.
|The target market is definitely global, would however likely be restricted to public organizations like for examples local or national governments or government agencies that deal with processing and analysis of satellite images and provide public services related to this such as emergency responses.
|2b||How the product is characterized from the following options? Number of companies producing similar products in the field.
• Base – applied by all companies in the industry
• Leading – applied by a single or limited number of competitive companies
• Key –at a development stage, but has already proven its potential
|There are many companies in the field that offer solutions in the field of earth observation or disaster management. The product development here would offer a more advanced technology to existing applications and thus could mature to a new solution offering. The product could therefore become a substitution product.
|2c||What type of market demand will be satisfied?
• Existing demand – the market is already developed
• hidden (latent) demand – the market has yet to be developed
|The market exists already but is still in need of new and better solutions.
|2d||What is the current stage of the product’s market life cycle?
• Implementation, implementation in production (leading to a radically new product offers)
• Growth (rapid spread within the industry or outside it)
• maturity (parameters of the technical characteristics of manufactured products reached their maximum, higher-grade products can be manufactured on the basis of technological substitution)
|We are dealing here in a mature market area that is however still open for new products and new solutions that can be manufactured on the basis of technological substitution.
|2e||Strategic partnerships (existing or potential).|
|No strategic partnership exists at the moment would however be necessary for product development. Such a partnership could be established via a European project.
SECTION 3: The Competition
|3a||What is the competition within your target market?|
|Solutions in this market area are mostly provided by large multinational corporations such as Lockheed Martin, Northrop Grumman, EADS or others.
|3b||What competitive advantages will the introduction of the new product ensue?
• lower prices based on lower production costs
• product differentiation (uniqueness of the product proposal)
|The competitive advantage consists in higher processing speed and performance and therefore, more and better services can be offered in real time. However, this might come at a higher price since a parallel computing environment will be necessary. This advantage comes only into play when real time processing is needed mostly in case of an emergency such as forest fires or floods.
|3c||Potential products relate to the following price range:
• High price range
• Average price range
• Low price range
|The price range will be high if sold as a product. There is the possibility to provide services to a range of customers, which could lead to a lower price. However, there might be security and confidentiality restrictions since base satellite data might have to be combined with more sensitive or private data and government agencies might not be willing to allow access to such data by service providers.
|3d||Potential products will be marketed:
• To regulated markets (e.g. heat supply, water supply, universal telecommunication services, agricultural products, fishing industry, architectural services)
• To markets operating on the principle of free negotiation between agents on the market
|A potential product would be offered mostly to the public sector however on free market conditions. Product offering would mostly follow a call for tenders.
SECTION 4: Indicators
|Estimated cost of the new products||High|
|Expected market volume (potential / maximum number of users)||High|
|Expected sales volume||Low (slow to replace existing products)|
|Expected market share of the company (proportion between sales and total company sales in the relevant market)||Low but growing.|
KEYWORDS QUANTITATIVE ASSESSMENT (0-5).
|Please put X as appropriate.||1||2||3||4||5|
|Size of future market demand||X|
|Competitive positioning of the product||X|