Effective Technology Market Analysis

A valuable landscape analysis provides sufficient actionable intelligence that enables the product development team to exploit areas of high potential for breakthrough innovation. Through examination of current customer processes, deployed technologies, and gaps or deficient areas in the landscape, a technology market analysis can be developed.

A complete assessment of the current landscape must be done to illuminate the potential success of any change. To understand the potential of creating new value propositions (either by enhancing current positions or by creating disruptive innovation that rearranges the entire ecosystem value pool), the analysis must detail:

  1. Incumbent technology history, issues, and opportunities
  2. Competitors in the specified market space and analysis of current products and technology
  3. Current state of the market
  4. Projection of future environment (near or long term)
  5. Understanding of key customers behaviors, needs, and goals
  6. Potential impact of new technology alternatives in terms of the feasibility of implementation and market timing
  7. Prioritized actionable alternatives for the technology product development team

It is important to realize that not every need can be fulfilled by a promising new technology. Likewise, every identified emerging technology will not alter the landscape. However, actionable alternatives allow for further study to uncover those few that truly do have the potential to disrupt the status quo and create value.

Tweet about this on TwitterShare on FacebookShare on Google+Share on LinkedInEmail this to someone

Leave A Comment