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, Innov@ctors staff has developed  know how and research experience in security systems within the Dynamic Systems Laboratory (Department of Electrical, Management and Mechanical Engineering of the University of Udine).

Video surveillance systems, originally developed to provide the ultimate in security for banks, and traditionally used by security intensive operations like casinos and airports, are now inexpensive and simple enough to be used at home.

 

On the other side, the need for Security Surveillance is rising. Security in this case stands for home security, safety and security at work, …. According to a recent analysis of the EU International Crime & Safety Survey (EU ICS), 30% of EU citizens are afraid of burglary and do not feel safe on the streets. Most households in European capital cities are conscious about security and only one in ten households do not use any of the well-known security devices and practices to protect their homes.

 

 

 

 

 

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 better technical characteristics of the product (reliability, flexibility, software robustness).

Furthermore, the protection area is user-definable and it could be polygonal (not only linear, as the existing security systems).

 

 

 

 

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.
 

A reliable and extremely flexible security system (useful in a wide range of applications) that, through the innovative algorithm, is more robust than other security systems on the market.

 

 

 

 

 

 


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 system can be used as an anti-theft warning system, as a means of preventing workplace accidents and accidents at home and as a prevention system for vandalism acts against the artistic heritage.

In this sense, the system is directed to public administration bodies (Municipalities, Provinces, Regions), to companies and to private citizens. In Italy, for example, there are more than 8.000 municipalities, 3.500 museums, 666.000 companies (with at least 1 employee) and 896.000 freelancers and more than 21 mln families.

 

 

 

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”.

Other companies produce video-surveillance systems, access control and protection systems but their functionalities are different and their products are not adapt to complex applications.

 

 

 

 

 

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.

Video surveillance is widely used in public schools to monitor student movement and detect illegal activity, and at street intersections to catch cars running red lights. Private sector applications greatly exceed those in the public sector, including in the workplace, apartment buildings, garages, stores, banks, and restaurants.

For example, theft is a constant concern for the average homeowner or small business. Companies and families around the world are employing increasingly powerful measures to deter these crimes also with security systems.

 

 

 

 

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.

The California Research Bureau, in 1997, examined the potential of Closed Circuit Television (CCTV) technology to improve public safety through remote surveillance. Businesses such as banks were early adopters of CCTV for crime detection and prevention purposes. Shortly thereafter, many schools installed CCTV systems in response to violent outbreaks, and now new CCTV technological features, and an urgent need for enhanced public security are leading to a rapidly expanding use of CCTV and a related technology.

So, interest in the video surveillance systems is growing, as well as the number of companies producing security systems and video based security systems.

 

 

 

2e

Strategic partnerships (existing or potential).
Note:
 

At the moment there are not existing partnerships for the system’s development.

 

 

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 number of companies that develop video surveillance systems, but a limited number of them produce a system adapt to complex application, as SOB.

Some examples in Italy are:

  • ElettronicaNet Srl (Sardegna Region)
  • Security Group Srl (Piemonte Region)
  • MetaSystem Spa (Emilia Romagna Region) for the alarm systems

 

 

 

 

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 this system in the market will ensue lower prices and a product differentiation.

 

 

3c

Potential products relate to the following price range:

• High price range

• Average price range

• Low price range

Note:
 

The potential price policy is low 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 400 €
Expected market volume (potential / maximum number of users) In Italy 60/2000
Expected sales volume 160 in the first 3 years
Expected market share of the company (proportion between sales and total company sales in the relevant market) 50%

 

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 X2 3 4 5

 

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