Working closely with existing and newly identified stakeholders (e.g. clients, distributors and partners) during the past six months (Feb 2017 – July 2017), we thoroughly investigated for the period 2018-2022 our primary target markets in Europe and internationally, validated the technological feasibility, scalability, and economic viability of MOTIONMAPPER.
We segmented our market into industrial sectors and confirmed our initial analysis that we can address a strong market demand of ground displacements radar monitoring services principally for the mining sector, followed by infrastructure and oil & gas. The total market of these three sectors is set to grow to 408 M Euros overall by 2022, of which more than 12M Euro will be the expected revenues for DARES. This will represent large growth for us, generating a large amount of employment and becoming the market leader.
We developed a marketing strategy to create maximum impact as we launch a new product category to the market, including a trademark and patent process.
We also updated our knowledge of current and planned development activities, identifying the technical risks to be handled and the funding resources needed to complete the product roadmap, amounting at 1,95 M€ in two years.