Market research & strategy consultancy Totaro & Associates today announces the launch of a new addition to their technology intelligence service offering, MKT Prism. This tool evaluates historical market data and uses it to build a predictive model of future capacity additions based on wind resource availability and existing product mix offered regionally around the globe.
MKT Prism lets companies evaluate product gaps they have based on shifting market demand, and suggest new products that OEMs need to add to their portfolio which will increase market share.
MKT Prism will let companies evaluate product gaps they have based on shifting market demand, and suggest new turbine models that OEMs need to add to their portfolio which will increase market share. MKT Prism more accurately predicts future market share by taking into account the wind resource which has not already been built out, an improvement upon conventional market evaluation tools which look only at supply and demand factors that fluctuate wildly and have been proven to be historically inaccurate.
According to Philip Totaro, the CEO of Totaro & Associates, MKT Prism, “helps wind turbine OEMs and their suppliers develop new products and technologies which will help them differentiate in new markets or gain competitive advantage where they already sell. Alpha and Beta versions of this tool have already correctly predicted two new product launches where we had no fore-knowledge of the new product development program.”
To accompany the launch, the company also announces a commercial order for MKT Prism from a Tier 1 global OEM who intends to use this service to develop their next generation product platform. “We’ve had inquiries from multiple OEMs and sub-component suppliers based on the Beta demos we’ve already given earlier this year,” says Totaro. “In addition to understanding where they need to go next, most companies are keen to understand what their competition is up to.”
Totaro & Associates expects total revenue from this service to be €4.2 million over the next three years. For more: www.totaro-associates.com/industry-trends.
Filed Under: News
