App Development: Market Considerations
Have you been contemplating building a new app? App development has exploded over the past several years, so if you have a great idea, it is tempting to rush headlong into a project. Before diving into the technical details, though, we encourage you to spend time clearly defining the opportunity, and reflecting it against existing solutions. This is necessary whether your target user is an internal team or a consumer external to your company. It’s even true for gaming apps, as differentiation is always valuable.
Opportunities exist when there is a gap between what is currently on the market and the new possibilities created by economic changes, technology advances, or new social trends. Developing a product to fill that gap is part science and part art, but it always involves creating a solution that is perceived as useful, usable, and desirable. The more you can do at the outset to define your opportunity, the better success you will have at creating the right product and marketing it successfully.
To help define the opportunity, work with your team to consider questions like these:
- What problem will this app solve? (your value proposition)
- For whom will you be solving that problem? (your customer segment)
- How big is the opportunity? (your market size)
- How does the market currently address the problem? (minimum expectations)
- What product features are critical for success? (requirements)
- Why are you best suited to do this? (your differentiator)
The first two steps, defining your value proposition and market, require an in-depth understanding of the industry and the particular pains your target audience faces as they attempt to achieve their goals. The value proposition states specifically what product (or service) you intend to build in order to create value for a particular customer segment. It’s your idea, framed in the context of your customer’s experience.
Once you have clearly defined the need you want to address, you’ll want to learn about the solutions that are currently available. If you desire to sell an app externally, these alternatives will become your competition, and it’s critical to quantify what unique value your app will bring relative to them. If you are looking for a solution to gain internal efficiencies, this research will tell you if you can use an off-the-shelf app, which could save you time and resources.
While taking these steps may feel both time and money-consuming, developing these market insights will actually enable you to be more successful overall. If you’d like to learn more about the market and business analysis work to consider before you get too far into development, we encourage you to read our practical recommendations for the app discovery phase and the keys to success. Or, contact us for more information. We'd love to help!
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Technology is changing at such a rapid pace that we have seen many tech disruptions in a relatively short time. A “disruptive technology” could be defined as one that displaces an established technology, thereby shaking up an industry and reshaping its future trajectory. A tech disruptor could also be a ground-breaking product that creates an entirely new industry. Join our drive down the technology superhighway as we rediscover the top tech disruptions over the past 10 years and dive into what’s next. 2014: Amazon Echo Brings the IoT Home Amazon Echo barreled into our lives this year, causing us to rethink how we might use technology in our homes. Powered by Amazon’s voice control system Alexa, the Echo started with just a few intelligent voice commands. Alexa now boasts thousands of “skills” and has become the central hub in so-called smart homes, helping to bring the Internet of Things (IoT) to a much wider audience. Followed quickly by Google Home and more recently by Apple HomePod, this technology is sure to continue to grow. 2015: Autonomous Vehicles Inspire Change The autonomous car, aka the self-driving car, is envisioned as one capable of sensing its environment and navigating without human input. The quest to develop technologies that could enable such a feat began to rise in 2015. Consumers have benefitted from numerous changes in car technology (think adaptive speed tech, proximity sensors, guidance systems, etc.) as manufacturers began pursuing this vision. This dramatic reshaping of the automotive industry certainly deserves a call-out. 2016: Oculus Rift Opens Up Virtual Reality Virtual reality (VR) as a concept has been around for decades and offers increasing value in everything from military training to surgery simulation to product development and testing. Although Google had been selling Google Glass prototypes since 2013, VR’s availability to consumers was limited until the introduction of Oculus Rift in 2016. With its launch, VR exploded into many homes. The system was a hot gift and introduced the concept of VR to a broader audience—it’s hard not to enjoy (or laugh with?) someone experiencing VR for the first time! 2017: AI Takes the Stage Artificial intelligence (AI) is a science-fiction trope brought to life. With numerous large companies investing billions of dollars on research in this field, it’s poised to influence how we live and work in the coming years. Applications include everything from automating tasks using bots to enabling computers to answer complex, multi-tiered questions by “learning” from previous queries. 2018: 5G Begins Its Rollout As connectivity became more ubiquitous, fast and reliable internet demand increased. It’s not enough to watch a streaming movie in the middle of nowhere—it has to be smooth! Beginning in 2018, 5G promised to bring more channels for higher speed, lower latency, and greater bandwidth for more connected devices. But 5G wasn’t exciting for smartphone fans only: the benefits had implications for healthcare, education, smart homes, connected cars, and more. 2019: 3D Printers Revolutionize the 4th Industrial Revolution Although the technology and equipment for 3D printing were available in the mid-1980s, 3D printing was imprecise, bulky, and costly. Thirty years later, 3D printing made it to the mainstream as a disruptive technology. This disruptive technology appeared in 2019 as part of predictive maintenance in manufacturing. Smart sensors helped identify potential problems, and 3D printers built new parts before needing to be needed. 2020: Passwordless Authentication Hits Big Tech For many of us, forgetting our passwords is a daily occurrence, but those days may be behind us, thanks to the push for passwordless authentication in 2020. While the world stood still during the COVID-19 pandemic, big tech companies like Microsoft began to push for two-factor authentication and passwordless logins, and an identity management startup called Beyond Identity launched its passwordless identify platform in April. Companies like Adobe and Facebook began utilizing new security features to give us the luxury of forgetting those complicated passwords. 2021: IoT Builds the Virtual World Technology automation through IoT didn’t begin in 2021, but this year brought a boon for intelligent everything. The IoT connects objects in the real world—navigation systems, thermostats, your virtual assistant, Alexa—with virtual identifiers on the internet. These identifiers “talk” virtually to create a web of connections and collaborations between the devices. Although IoT has been used in home-based applications, 2021 brought the technology to new areas, including manufacturing, mining, and healthcare. 2022: ChatGPT Redefines Human-Computer Interaction In 2022, ChatGPT emerged as the undeniable frontrunner and the most influential tech disruption of the year. Developed by OpenAI, this groundbreaking language model harnessed the power of the GPT-3.5 architecture to revolutionize human-computer interactions. With its ability to understand context, generate coherent responses, and adapt to users’ needs, ChatGPT transcended traditional chatbots, becoming a sophisticated conversational AI companion. Its applications spanned diverse industries, from customer support to creative writing, education, and even healthcare. As ChatGPT continuously learned and evolved, it showcased the transformative potential of artificial intelligence, leaving an indelible mark on the technology landscape of 2022 and beyond. 2023: Apple Vision Pro Unleashes the Power of Spatial Computing In 2023, spatial computing, specifically the Apple Vision Pro, emerged as the pinnacle of technological disruption, revolutionizing how we interact with digital information. Years earlier, Apple’s visionary smartwatch had cemented Apple as the leader in wearable technology. In 2023, the Apple Vision Pro promises to enable users to seamlessly integrate virtual elements into their physical surroundings, unlocking unparalleled immersion and productivity. We can now see a future where the days of limited screen real estate are gone; users can effortlessly interact with a vast array of applications and data in a three-dimensional, contextually aware environment. This leap in spatial computing may solidify VR’s position as an indispensable tool and open up new frontiers in communication, productivity, and entertainment, forever changing the way we perceive and interact with technology. What’s next? Tech disruptions in the 21st century have transformed our reality into a digital-first experience. Technology is changing faster than ever. Backed by a confluence of all these giant leaps forward, the future is a brave new world. Our predictions for what’s next include: Prediction 1: Quantum Computing Revolutionizes Data Processing Quantum computing is poised to shatter the boundaries of traditional computing capabilities. With its ability to leverage quantum mechanics principles, it will handle complex problems at speeds that were once deemed impossible. Industries such as pharmaceuticals, logistics, and cryptography will see groundbreaking advancements, leading to accelerated drug discovery, optimized supply chains, and next-level data security. As quantum computers become more accessible, researchers and innovators will unlock the potential for solving real-world challenges that were previously impossible. Prediction 2: Hyper-Automation Transforms Workforce Efficiency Hyper-automation is revolutionizing the business world with advanced technologies like AI, machine learning, and robotic process automation (RPA). By automating complex processes, companies can boost productivity, streamline operations, and free up time for creative and strategic initiatives. This transformational trend empowers workers through upskilling and reskilling, leading to a promising future where technology complements human expertise for greater success. Prediction 3: AI-Driven Personalization Enhances User Experience As AI continues to integrate deeply into our digital lives, offering personalized experiences across platforms becomes the new norm. 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