During the SME instrument Phase 1 project an elaborate feasibility study was conducted to implement the following tasks: market research, an analysis of user needs and preparation of technical specification, IPR strategy development of business plan development for the future commercialization.
Software Big Data market is expected to grow at a twice bigger rate than the hardware one. The CAGR in the software is expected to reach almost 20% in the following 5 years. Using Big Data allowed the companies to achieve up to +10% in performance, up to +25% in productivity, and decreased maintenance costs by -40%. However, most of the current solutions are facing limitations due to increasing volumes of the real-time data as well as moving everything online. Moreover, the companies faced a need to work with unstructured data which is impossible with conservative database systems.
Existing hardware has problems in satisfying the needs of the companies, as it creates limitations on the processing units which results in the slowdown of the whole process line. FPGA acceleration allows to overcome these barriers and achieve efficient parallel processing. Analysis has shown that implementation of the technology can produce benefits in the number of industries: banking & finance, government, healthcare, insurance, telecom, manufacturing, etc.
The objective of the Phase 1 project was to develop a market entry feasibility study for GrowF FPGA-acceleration system commercialization that would include thorough market research, user need analysis, patent landscape analysis, and business model design. The SME instrument Phase 1 project allowed GrowF to conduct a feasibility study, improve the final design of the product, and prepare itself for commercialization of the innovative solution.
