Question

Topic: Research/Metrics

How To Get Market Size And Other Research Material

Posted by sonu0327 on 6/22/2011 at 8:33 AM ET 500 Points
I just started working as a mktg director for a software and services company that provides display and collaboration solutions for command and control centers in the US. Some of the industries that we serve are the fed gov't, utilities, transportation, defense, homeland security etc.

Since we have been so spread out, I want to concentrate on markets that are growing and have a strong need for a solution like ours.

This is a very niche market and there is absolutely no market data available. None of the analysts and research groups cover it. I have looked on competitor sites to get clues on where I might be able to get market information for the short term (2-3 years), but it's been futile. All the information I've been getting so far is purely anecdotal.

Any ideas on how I can size the market and figure out what industries to concentrate on will be highly appreciated.

Thanks a lot

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RESPONSES

  • Posted by modza on 6/22/2011 at 9:14 AM Accepted
    I don't have THE answer, but I do have a couple of suggestions. You mentioned utilities; as an industry, I'm sure there are Wall St. analysts that cover it, since utilities are publicly traded stocks. Electric utilities also have at least one industry association, Electric Power Research Institute in Palo Alto, and the Gas utility industry has a research institute in Chicago. So you definitely can get info for them.

    Similarly, the defense and homeland security chunks of the federal govt. are supplied by companies (contractors) that are also covered by analysts.

    Now you may not get the number of CCCs directly, but the overall size and growth estimates should be readily available, and you should be able to relate your niche to the overall industry.

    Finally, and most helpfully, talk to your sales people and to your company's customers in the different segments. They will know what resources are out there, and a judicious sampling of them will give you as good estimates as any the analysts could produce. And talking to customers is always a good idea!
  • Posted by Frank Hurtte on 6/22/2011 at 9:52 AM Member
    for this kind of information I recommend tapping into people like the GLGroup.com.
    This is a network of experts that can be interviewed. Specify the kind of person you want to speak to and interview a former head of IT or procurement for this type of center.
  • Posted by CarolBlaha on 6/22/2011 at 12:59 PM Accepted
    I can't believe the info isn't there. Especially for the feds. Their spending trends are all public info. If you go on GSAadvantage-- and a dozen similar, you can dial your competitors info and industry and see exactly what the govt is spending in this niche and who it is with.

    Competitors would be crazy to post their idea of market potential on their sites-- that is just giving a competitor a hunting license.

    You may also have to pay for this info.

    Matter of fact I just did some market research for a company that is considering a new product for homeland security. (not software) I had to drill, but really had little problem finding this info. Especially feds-- again they are very transparent in their spending.

    Also look to sites very open to terrorist attacks (google those words)-- an attack on a paint manufacturing co is just as life threatening or more than them taking out a nuclear plant. Look also at biotech, places like the Hoover Dam, etc. (they'll come up on that google search).
  • Posted by sonu0327 on 6/22/2011 at 1:28 PM Author
    Thanks Carol. I have never worked in this industry so I have no insight into what dynamics play in the government and other markets that I had mentioned. Thanks to you now I know to look on gsaadvantage.com for gov't funding.

    If there are other sources that you know about, I'd really appreciate if you'd share with me, especially for the utilities market.

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