Potential market
SECTION I: The product
| 1a |
The innovation potential of this product is related to:Product related to cost reduction |
| There are already developed similar expert systems. The new R&D result offers lower computational complexity and high accuracy. It could be easily adapted to any sensor. |
| 1b |
What added value for end-users does the product hold?
• higher quality
• Better technical characteristics
• Other … |
| The new product offers better technical characteristics and is easily adapted to various sensors. |
| 1c |
What is the Unique Sales Proposition of the potential product? |
| The result has lower computational complexity and in result – it is faster than other methods, based on more complicated algorithms. Besides, the accuracy of the method is very high and its parameters are easily adapted to any sensor. |
SECTION 2: The Market
| 2a |
What is the target market for the product? Global Please describe the characteristics of your target market. |
| The target market is global, but aimed at relatively narrow area.Possible users are companies, who transfer gas from long distances; petrol stations, etc. |
| 2b |
How the product is characterized from the following options? Number of companies producing similar products in the field. • Key –at a development stage, but has already proven its potential |
| The companies, who develop such systems, are few but they usually produce their results on request from user companies. |
| 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, needing expert systems is relatively small. The market, concerning the possible application for archiving of old handwritten documents is hidden and has yet to be developed. |
| 2d |
What is the current stage of the product’s market life cycle? Implementation, implementation in production (leading to a radically new product offers) |
| The result is ready for implementation. |
| 2e |
Strategic partnerships (existing or potential). |
| Not available |
SECTION 3: The Competition
| 3a |
What is the competition within your target market? |
| Similar product: Y.MU 2000 – offered by YXLON International X-Ray GmbH, a company of the COMET Group Essener Bogen 15, 22419 Hamburg, Germany (price about 60 000 US$) |
| 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 algorithms are of lower computational complexity which will reduce the price, and besides the system will work faster. In this the product is unique.Besides, the algorithms, used for the image processing are unique also. |
| 3c |
Potential products relate to the following price range:• High price range |
| Potential products relate to the high price range, because the creation of intelligent expert systems for real time applications in this area is always a challenging task. |
| 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 |
| Potential products will be marketed To regulated markets and to markets operating on the principle of free negotiation between agents on the market. |
SECTION 4: Indicators
| Estimated cost of the new products |
30000 Euro |
| Expected market volume (potential / maximum number of users) |
200 |
| Expected sales volume |
6000000 |
| Expected market share of the company (proportion between sales and total company sales in the relevant market) |
1/4 |
KEYWORDS QUANTITATIVE ASSESSMENT (0-5).
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1 |
2 |
3 |
4 |
5 |
| Added-value potential |
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x |
| Size of future market demand |
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x |
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| Competitive positioning of the product |
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x |
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