Potential market

SECTION I: The product

 

1a The innovation potential of this product is related to:

 

  • Technology-driven innovation (under the influence of the development of science – the market is not ready for the product)
  • Market-driven innovation (as a result of market surveys, the market expects the product)
  • Replacement of existing product
  • Product related to cost reduction
  • Radical new product
  • Other, what…
This technology driven product has been developed as a result of a dissertation conducted at the Department of Mathematics of Aristotle University of Thessaloniki. The subject is aligned with the research interests and experience of the Complex Systems Analysis Laboratory (COSAL). The aim this product development was twofold. First to take advantage of various existing and /or emerging technologies of the Semantic Web, (primarily Linked Data) so as to extract and exploit informational value originating from open public data. Second, to return significant benefits in the form of innovative applications and services.

 

1b What added value for end-users does the product hold?
• higher quality
• Better technical characteristics
• Other …
The added value of the specific R&D result does not lie in its structure but in the emergence of innovative services. It extends the informational value of each database by publishing their content as Linked Data, interconnected with other related resources in the LOD cloud. This allows information to become easily discoverable, readily accessible and most important highly reusable. The expected benefits involve the following groups and in the following ways:

a)     Citizens benefit from numerous smart applications that in turn drive innovative services. Information can be accessed effortlessly and as easily as never before.

b)     Companies benefit by meeting faster and more efficiently their informational needs. Additionally they are presented with great opportunities when putting their own data in the LOD cloud but also when combining them with other linked data from various informational sources.

c)      The Global LOD cloud is enriched in terms of the contributed informational value from these two datasets and an exchange of informational resources takes place between different Linked data sources.

d)     Sophisticated complex queries are enabled against the own and different datasets within the LOD cloud. The results themselves are capable of driving new applications and innovative services, (Geographical indication within maps of safety routes, criminality alerts, area evaluations, fire records and forest preservation).

e)      Government and public administration services benefit from possible reductions in the financial costs and the ability to better manage their resources. In the end this translates also into better public services. Finally, Linked Data are seen as critical means to satisfy governments’ needs for transparency and accountability.

1c What is the Unique Sales Proposition of the potential product?
The Ministry of Citizen Protection and its Hellenic Police and Fire Brigade departments managed to meet the requirements so as to enter the global LOD cloud. Being among the first datasets to form the Greek LOD cloud they interconnect to other closely related Greek (the elDBpedia core hub and Diaugeia) and other foreign datasets of the global LOD cloud.

 

SECTION 2: The Market

 

2a What is the target market for the product?

National ¨

European ¨

Global x

Please describe the characteristics of your target market.

Although its full potential remains partly undisclosed due to its highly innovative nature, the product is definitely targeted to the global market. It constitutes a product with unlimited application areas and uses. On the other hand, its value continuously increases as the datasets and their interlinked neighbors in the LOD cloud increase their informational contents and their numbers.

As the deployment of linked data related technologies is mostly content driven, commercial interest will be aligned to the topic of the databases interlinked. Therefore, in the case of Linked Data employment in the Hellenic Ministry of Citizen Protection (Easily reformed to apply to any other country) potential buyers can be the Ministry itself and its General Secretariat, other Ministries, such as the Ministry of Health and Public Welfare, the Ministry of Transport etc, healthcare institutions, companies providing security services and private insurance etc. Having this in mind, potential buyers of the product are

a)     Governments, public bodies and organizations that aim to ease the access to government and other public sector data (increase transparency), improve their services and reduce costs.

b)     Private companies interested in designing and implementing applications, exploiting information and using public data as background knowledge in order to offer more targeted services and products.

Hence, in most of the cases, it requires the development of third party applications on top of this linked public information that can be adopted to the specific needs of each client.

 

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

The product falls within the key category, having proven its potential by its rapid spread in the software development market. After all, linked data is already the most favourable and widely accepted method to publish data in the Semantic Web. Thus said, it can be applied to all kinds of industries and areas, such as music, energy, natural disasters etc.

Today there are only few enterprises globally that are developing relative products, most of which are either leaders in the area of the Semantic Web (with owned R&D departments) or research institutes, following the Open Government Data initiative and interested in the accompanied benefits.

 

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 product will satisfy a hidden demand as there is still little awareness about the commercial opportunities and the end user benefits of linked data. According to Andreas Blumauer, the person behind the DB-Pedia project, the linked data markets can be distinguished to those that develop applications that rely on the public web of data and those inside the companies. The first type of market is very close to existing markets and applications e.g. the development of smart search engines, while the second one is still completely undeveloped.

Here it should be noted that especially in Greece, public government is not very open in spending money for developing linked data applications. However, both European and international regulation about open government data will contribute to render linked data software and technology as a new powerful entry in the global market.

 

Linked Data technologies enable companies to effortlessly set up data spaces and allow a closer integration (data links, shared vocabularies or schema mappings etc).

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)

The product is at the stage of implementation. As it has been mentioned earlier, commercial opportunities from its application have not been fully revealed.

Regarding Linked data and the Ministry of Citizen protection currently only two of its departments have their associating datasets in the LOD cloud.

2e Strategic partnerships (existing or potential).
Potential strategic partnerships include primarily the collaboration with public bodies that have to ensure the provision of more accurate and more appropriate formats of the available open public data (ministries and public organizations). Additionally collaboration with companies that have developed products of data exploitation and management i.e. search engines, content and network analysis tools etc.

SECTION 3: The Competition

3a What is the competition within your target market?
There is a limited number of companies and organizations that use linked data for internal purposes or are in the process of developing commercial services and applications based on this technology. In both categories belong stakeholders with a highly financial competence. Apart from them, what can be considered as direct competitors are

 

 

 

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)

Given that the market is not yet developed and that there is no information, neither about the pricing nor about the properties of the specific product/service from competitors, it is difficult to position this R&D result against others.

 

 

3c Potential products relate to the following price range:

• High price range

• Average price range

• Low price range

Considering that competition will be between large ICT companies, the product should be marketed at a low price range in order to acquire a market share.

 

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

The product will enter into markets operating on the principle of free negotiation between agents, although there are certain issues that have to be taken into account, such as the restrictions posed from the privacy of personal data and to security. Yet, regarding the specific application with linked data from the Ministry of Citizen Protection these are free and available to the public, so these concerns are not applicable.

 

 

SECTION 4: Indicators

 

Estimated cost of the new products Cost range of a single application development based on LOD: 3.000€ – 15.000€
Expected market volume (potential / maximum number of users) Total number of ICT companies, public sector bodies and organizations
Expected sales volume 50-60 applications in the first five years
Expected market share of the company (proportion between sales and total company sales in the relevant market) The product has a potential to reach 70% of the market share due to its innovative nature, yet this estimation depends highly on the marketing expenditures and the success of targeted marketing strategy.

 

KEYWORDS QUANTITATIVE ASSESSMENT (0-5).

 

Please put X as appropriate. 1 2 3 4 5
Added-value potential         X
Size of future market demand         X
Competitive positioning of the product         X

 

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