Potential market

PART B: valorisation plan

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…
Note: Select and explain for one of above options or (in case of non relevance) define another. We try to identify why this potential product constitutes an innovation offer
The innovation potential of this product is related both to technology-driven and market-driven innovation.

 

On one side, Eye-Tech staff has developed  know how and research experience in surveillance systems within the Artificial Vision and Real-Time Systems (AVIRES) Laboratory (Department of Mathematics and Computer Science of the University of Udine).

 

On the other side, there is the need to increase the security level by adding new procedures to traditional systems. In this sense, Eye-D allows univocal people identification on the basis of biometric parameters.

 

 

 

 

 

1b

What added value for end-users does the product hold?
• higher quality
• Better technical characteristics
• Other …
Note: Select and explain for one of above options or (in case of non relevance) define another. We try to identify what new this potential product constitutes in accordance to the existing market status.
The added value for the end-user are the higher quality and better technical characteristics of the product.

Eye-D is a software module able to detect the face of a person moving in a given environment and check if its identity correctly matches with the face information of authorized persons stored in a off-line database.

More in detail, Eye-D processes video streams acquired by surveillance cameras and, thanks to real time face detection and recognition techniques, localizes the face of the subject in the image and matches its biometric features with the data contained in a database.

Eye-D increases the security level in any protected area, because the software runs in real-time on commodity pc hardware, granting access to that areas only to recognized personnel.

 

 

 

 

 

1c

What is the Unique Sales Proposition of the potential product?
Note: What makes your product unique in marketing terms? This helps your prospects to understand why they should buy from you rather than other existing product options.
Eye-D: the software that allows identified personnel to access to any protected area on the basis of biometric parameters.

 

 

 

 

 

 


SECTION 2: The Market

 

 

2a

What is the target market for the product? National ¨

European ¨

Global þ

Please describe the characteristics of your target market.

Note: Define the market range, the size of the target market (if possible) in terms of maximum product units
The product is targeted for a global market.

The Eye-D software is a B2B product; it is indeed directed to companies with a protected area, that need an access regulation not only based on traditional mechanisms.

Examples are: steel or metallurgy companies, that need an access control to dangerous areas, or medical, biotech and pharmaceutical companies, that need credential to access to reserved areas.

The software could also be sold directly to the vendors or installers of cameras, which will probably sell it as software embedded in cameras themselves.

 

 

 

 

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

Note:
The product can be considered as “leading”.

A facial recognition system is a computer application for automatically identifying or verifying a person from a digital image or a video frame from a video source. On the market we can find several facial recognition devices that view an image or video of a person and compare it to one that is in the database.

 

 

 

 

 

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

Note:
The product satisfies an existing demand of security.These applications are typically used in security systems and can be compared to other biometrics applications such as fingerprint or eye iris recognition systems.

In addition to being used for security systems, other applications for facial recognition systems are currently being developed. For example, the technology could be used as a security measure at ATM’s; the same concept could also be applied to computers: by using a webcam to capture a digital image, the face could replace the password as a means to log-in.

 

 

 

 

 

 

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)

Note: At this point we refer to the life cycle of the market related to the product. I.e. a product based on a new technology area (e.g. solar energy cars) is considered to be in the first phase of the life cycle when e.g. a typical TV set is in the maturity phase
The current stage of the product’s market life cycle is Implementation.

Facial recognition technology has emerged as an attractive solution to address many contemporary needs for the identification and verification of identity claims.

However, among several biometric recognition techniques that have been developing, facial recognition may not be the most reliable and efficient.

In any case, biometrics seems to be the future of the security industry and it is quickly becoming recognized as the most accurate identification technology in the market.

 

 

 

2e

Strategic partnerships (existing or potential).
Note:
At the moment there are not existing partnerships for the Eye-D’s development.

However, Eye-Tech is thinking about the opportunity of building partnerships with cameras installers or producers in order to sell them the software module.

 

 

 

SECTION 3: The Competition

 

3a

What is the competition within your target market?
Note: Refer to other companies producing the same product
There is a limited number of companies that develop software for biometric access control.Some examples are:

Inttelix a software company specialized in accurate Recognition Systems, headquartered in India. Their technology allows high-end Facial Recognition based on the latest technology in the market. They are specialized in Corporate Security and Personal Identity using smart Biometric Authentication Algorithms with the latest technology.

Warden Security Systems Pvt Ltd (India), an ISO 9001-2008 certified organization has its prime focus in distribution of various IT security products & solutions to system integrators, software developers and product resellers.

Other examples of companies providing software for the biometric facial recognition are:

FaceFirst provides a fully automated, user friendly, turnkey mobile and live-video surveillance facial recognition system which generates automated alerts whenever a face match above a user defined probability is reached. FaceFirst has a completely open and scalable, system architecture. FaceFirst technology excels in low resolution environments enabling real-world performance.

Human Recognition Systems (HRS) is the UK’s leader in biometrics and human behaviour analytic technology, developing and delivering products to resolve clients challenges with identity management. HRS operates in aviation, civil and government, energy and mining and construction helping clients to manage operational challenges in security, people flow, identity verification and policy enforcement.

MorphoTrak, recently named Biometrics Company of the Year by Frost & Sullivan, provides biometric and identity management solutions to a broad array of markets in the U.S. including law enforcement, border control, driver licenses, civil identification, and facility/IT security. L-1 has been acquired by Morpho, and is now part of Morpho, Safran’s security division. Reporting to Morpho, MorphoTrak is part of the world’s largest biometric company and leading innovator in large fingerprint identification systems, facial and iris recognition, as well as secure credentials. For more information, visit www.morphotrak.com.

Smartmatic is a fast-growing multinational technology provider for governments seeking to enhance transparency and efficiency of key processes. Among several original developments, Smartmatic has created the PARmobile, a portable and self-contained biometric enrollment platform that can be customized to the most demanding needs of the US marketplace, aptly supported by our distributors, systems integrators and VAR partners. With more than 400 employees, Smartmatic has offices in the United States, United Kingdom, Panama, Barbados, Brazil, Venezuela, Philippines and Taiwan.

Cross Match Technologies is a leading global provider of biometric identity management systems, applications and enabling technologies to governments, law enforcement agencies and businesses around the world. Offerings include biometric technologies capable of wireless, mobile or stationary use that encompass fingerprint, palm and full-hand scanners, facial recognition systems, iris scanning technology, document readers, biometric software, and related services.

 

 

 

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)

Note:
The introduction of the Eye-D software in the market will ensue a product differentiation.The competitive advantage over the competitors indeed is that the software is not bound to a specific camera manufacturer and automatically detects connected video sources.

 

 

3c

Potential products relate to the following price range:• High price range

• Average price range

• Low price range

Note:
The potential price policy is average price.

 

 

 

 

 

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

Note:
The product will been marketed to free markets.

 

 

 

 

 

SECTION 4: Indicators

 

Estimated cost of the new products n.a.
Expected market volume (potential / maximum number of users) In Italy 90/900
Expected sales volume 100 in the first 3 years
Expected market share of the company (proportion between sales and total company sales in the relevant market) 5%

 

KEYWORDS QUANTITATIVE ASSESSMENT (0-5).

Please encircle as appropriate.

 

 

Added-value potential 1 2 X3 4 5
Size of future market demand 1 2 X3 4 5
Competitive positioning of the product 1 2 X3 4 5

 

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