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 to both technology-driven and market-driven innovation.

 

Indeed, Eye-Tech staff’s know how and research experience within the Artificial Vision and Real-Time Systems (AVIRES) Laboratory (Department of Mathematics and Computer Science of the University of Udine), has allowed over the years to refine the face detection software characteristics. In particular, the group has specific experience in the fields of Active Vision, Biometrics, Data Fusion, Data Transmission, Audio Digital Library, Auditory Display, Nonverbal Human-Machine Interaction.

 

On the other hand, there is the need of banks and commercial activities to increase their security. In this sense, the Eye-Go software could represent a strong deterrent for thefts and armed robberies done with masks or other forms of facial traits covers.

 

 

 

 

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 product holds added value mainly for banks.

Thanks to this software, indeed, a bank can permit the access only to people with the face correctly detected. In other situations, in which the face is totally or partially occluded, the access is forbidden and an alarm is sent to an operator.

The software can be applied to any place in which monitored access is required and a surveillance system is in operation.

 

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-Go is a usable and sophisticated software, that increases the security, allowing few situations of false positives.

Compared with a standard face detection software, Eye-Go is an expanded software and adjusted for special situations.

 

 

 


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.

Eye-Go is especially addressed to the banks, whose need of security is very high.

Banks indeed have been robbery targets as long as they have been in existence.
Crime at banks is a worldwide issue that faces not only customers, but also bank operators. Security measures at banks can play a critical, contributory role in preventing attacks on customers.

The United States has the most banks in the world in terms of institutions (7.085 at the end of 2008) and possibly branches (82.000). This is an indicator of the geography and regulatory structure of the USA, resulting in a large number of small to medium-sized institutions in its banking system. As of Nov 2009, China’s top 4 banks have in excess of 67.000 branches with an additional 140 smaller banks with an undetermined number of branches. Japan had 129 banks and 12.000 branches. In 2004, Germany, France, and Italy each had more than 30.000 branches—more than double the 15.000 branches in the UK.

 

The possibility to install the Eye-Go software depends however on the policy of the singular bank.

 

 

 

 

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 characterized as leading because it’s applied by a limited number of competitive companies.

Less than 10 companies all around the world are working in the advanced face detection field.

These companies, that in some cases are University spin offs, produce technologies and solutions for ambient intelligence. Their solutions allow to detect and alert the unusual and anomalous behaviour of subjects of interest within virtual areas. Using standard video cameras and pc architectures, thanks to a specific software, it’s possible to detect, track and classify subjects of interest for any kind of application.

 

 

 

 

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, coming from the bank system.

In Italy for example the Italian Banking Association, the prefectures and the singular banks have been recently signed an agreement for the crime prevention.

Indirectly, this kind of software satisfies also the end user, that is encouraged to enter the bank if the software is installed.

 

 

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 Growth.

In fact the face detection software is currently used as a recognition system. Research on the facial recognition technology started in the mid 1960s. This technology works by using several facial features in a person’s image and comparing these with existing images in the database. Facial recognitions systems are used as an additional and mass security measure and are comparable to the other biometric security systems available today such as retina scanners, fingerprint scanners, etc

Compared with a standard face recognition software, the Eye-Go software allows to detect the situations in which the face is occluded.

This is the most important innovative feature of the product.

 

2e Strategic partnerships (existing or potential).
Note:
At the moment there aren’t existing partnership for the development of Eye-Go software.

In any case, Eye-Tech could make a partnership with a company that produces double doors (inner and outer) for banks.

The safe of the software is in fact closely tied to the use of double doors. And a partnership with this kind of company could be useful also for the next phase of testing .

 

 

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, most of them university spin offs, that have developed  softwares for face detection. Examples are:

TechnoAware (Genova, Italy): Established in 2003, TechnoAware stems from the experience and expertise of the University of Genoa’s ISIP40 Research Group. This company produces technologies and solutions for ambient intelligence.

 

Keesquare (Milano, Italy): a spin-off company of the Politecnico di Milano, develops innovative techniques in video and audio signal processing for biometric identification and tracking, detection of hazardous events, and security applications in general. In particular the International Standard ISO/IEC 19794-5 is aimed at providing a face image format for recognition applications, which enables the exchange of face image data.

 

 

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-Go software in the market will ensue a product differentiation.

The competitive advantage over the competitors indeed is the combination of an advanced and sophisticated software with a new kind of application.

Compared to the face detection software currently developed, the Eye-Go software is enhanced with features that allow a recognition of particular situations (faces partially occluded by sunglasses, hats or tights.

 

 

3c Potential products relate to the following price range:

• High price range

• Average price range

• Low price range

Note:
 

Even if the software has yet to be tested, the potential price policy is average price.

But, in any case the prize will be higher than the standard face detection software price, because of the advanced and sophisticated features within the algorithm.

 

 

 

 

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, based on the complexity of the software development, of the place in which it will be installed and on the restrictions imposed by the client.

 

 

 

 

 

SECTION 4: Indicators

 

Estimated cost of the new products 200 €
Expected market volume (potential / maximum number of users) 2.660/266.000(Branches)
Expected sales volume 1st year: 40

2nd year: 100

3rd year: 200

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 3X 4 5
Size of future market demand 1 2 3X 4 5
Competitive positioning of the product 1 2 3X 4 5

 

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