Home Solutions Market Potential Assessment

Market Potential Assessment

Providing rich data and market insights to support critical market entry decisions and formulate strategies for new product-market segments

TAM SAM Market growth drivers

How can we help you grow faster? *

Enter Phone Number

Enter Email ID *

Let's talk

Market Potential Assessment

What is the nature of opportunity in each micro-market (e.g. retail, commercial, etc.)?
What are the typical customer requirements of each micro-market?
Who are the key competitors and what are the attributes of their offerings in each micro-market?
What is our market share - points of presence / sales capacity, number of customers, business volumes/revenues?
How do our existing offerings compare to those of the market leader?
What are the key gaps in our product focus / sales strategy / distribution strategy across micro- markets?
What is the potential business upside / risk across micro-markets?

Relevant Case Studies

EMR product road mapping across primary and specialty care ecosystem
Healthcare market assessment to assess the healthcare delivery market
Study the Indian medical professional landscape
Launch of a news channel in South India with a digital first strategy followed by launch of a news channel
Market potential estimation for ceramic tile player for residential & Commercial buildings
Digital maturity assessment in relation to user adoption and ROI of users of a store discovery platform
Empowering CSR arm of a FMCG company to identify viable solutions to combat COVID-19
Assessment of reefer truck market in India
Market potential assessment of non-food opportunities for 2W compatible deliveries and adjacency expansion
Market sizing & target segment determination for an Indian RE player
Market potential of 2W rental services
Market potential assessment for an industrial explosives manufacturer
An Indian hospitality player was interested in assessing the market potential for a multi-asset type property management software vendor (SaaS platform)
Market potential assessment for a metal fabrication aggregator
Market potential estimation for H2-blocker for treatment of gastric ulcers
Market potential estimation of SaaS offering for SMEs
Potential market assessment for cross-border payments
Sizing the market for FinTech subcategories
Market assessment study of Indian e-commerce logistics
Market potential assessment of AgriTech landscape in India
Market assessment for a radiology player
Market assessment for opportunities in supply chain financing in B2B commerce
Market sizing and growth projection of MRO products

EMR product road mapping across primary and specialty care ecosystem

Objective

The client wanted to understand the market for EMR products across primary and specialty care ecosystem
The client also wanted to understand the propensity to adopt EMR products amongst key specialty care segments

Methodology

Identified two important levers to assess each specialty segment through building a specialty prioritization framework
Classified each specialty under small, medium, and high according to propensity to adopt EMR
Further classified segments according to need for digitalized data and ability to use EMR products

Impact / Outcome

Successfully provided client with an exhaustive list of segments in the specialty care ecosystem that are currently using EMR products and identified key specialty segments that have the highest propensity to adopt EMR products

Let's talk

Healthcare market assessment to assess the healthcare delivery market

Objective

Client wanted to assess the current healthcare delivery market in India and existing players in the integrated healthcare vertical while gauging its market attractiveness

Methodology

Analyzed the penetration of healthcare services in India across different parameters
Conducted deep market study across various sub-verticals in healthcare and found relevant up & coming players
Assessed the consumer spend across multiple healthcare components and mapped respective profit pools

Impact / Outcome

Enabled the client to identify their market of interest and define focal point for further study in the project

Let's talk

Study the Indian medical professional landscape

Objective

A client who provides medical consultation and practice management, wanted to understand the Indian medical professional landscape through which it can estimate an addressable segment of doctors that it can onboard

Methodology

Estimated the total medical workforce of India along with various segments to understand the market in depth
Estimated an overall addressable segment of specialists by implementing our market sizing methodology
Identified key addressable segments and projected demand and supply gap to estimate growth opportunities

Impact / Outcome

Successfully provided client with overall medical workforce along with depth in the segments constituting the market
Provided client future growth opportunities according to the need of the industry by analyzing the demand supply gap

Let's talk

Launch of a news channel in South India with a digital first strategy followed by launch of a news channel

Objective

A popular news channel wanted to understand target group & need gap analysis
Client wanted insights on content benchmarking with competitors
Client wanted to understand go to market plan

Methodology

Group discussions (N = 12) with key customer segments
In depth customer conversations (N = 12) understanding customer behavior & preferences, latent needs & pain points
Consumer survey (N = 600) to understand attitude for digital consumption of content & gaps in current offerings

Impact / Outcome

Insights into attractiveness of the market for the news channel
Detailed insights into target groups & their preferences for online news consumption
Positioning of the news channel in the new market to create a brand value

Let's talk

Market potential estimation for ceramic tile player for residential & Commercial buildings

Objective

A ceramic player is now looking to expand the sales of the ceramic tiles to South East Asia and wanted to understand market potential in these countries

Methodology

Conducted in-depth study of residential and commercial buildings in select cities in 3 countries combined with demographic data to understand affluence and estimate TAM (Total Addressable Market)
Conducted In-Depth Interviews (N=15) of real estate players to understand current / future market in these cities
Conducted In-Depth Interviews (N=10) of ex-senior leadership in competitor companies to estimate future market potential for the client
Carried out product and service benchmarking for key players offerings ceramic tiles in these cities

Impact / Outcome

Client understood market potential in each of the 3 targeted countries along with a preliminary idea of SAM (Serviceable Addressable Market)

Let's talk

Digital maturity assessment in relation to user adoption and ROI of users of a store discovery platform

Objective

A fast-growing Indian online discovery player wanted to understand the profile of the merchants on its platform, their overall experience with its services and ROI of the merchants

Methodology

Interviewed F&B, grocery and fashion merchants (N>30) which actively use the client’s platform and associated services
Created preliminary findings basis the interviews on which a survey (N = 150) was conducted for the merchants
Benchmarked merchant’s feedback about the client’s platform / services against those of its competitors and alternative mode of merchant discovery
Mapped merchant’s satisfaction on the ROI gained against the amount spent on client’s services across different cuts including tenure and monthly revenue

Impact / Outcome

Client was able to understand about the merchant’s unmet needs and areas on which it can improve service levels and their propensity to pay which would assist in designing better offerings

Let's talk

Empowering CSR arm of a FMCG company to identify viable solutions to combat COVID-19

Objective

Client wanted to short-list and support entrepreneurs with innovative and scalable ideas around medical devices manufacturing for better health management of COVID-19 pandemic

Methodology

Screened 1,600+ applications / prototypes basis several factors such as product development, team experience, regulatory approvals, etc.
Conducted in-depth feasibility assessment on parameters such as cost competitiveness and access to raw material, manufacturing, and distribution
Technical experts further evaluated these applications on functional specifications, product viability, compliance with regulatory guidelines etc.

Impact / Outcome

Assisted the organization in analysing relevant information to take an informed decision; 8 prototypes were short-listed and were granted monetary support post detailed diligence

Let's talk

Assessment of reefer truck market in India

Objective

The client is a leading international automotive manufacturer and was interested to know the refrigerated truck (reefer truck) market in India

Methodology

PGA Labs conducted a detailed secondary research to understand the industry dynamics of reefer truck and cold chain requirements of various industries. It further conducted detailed in-depth discussions with consumers of cold chain services like F&B, Pharma etc. to understand their need of cold chain services
PGA Labs also conducted competition discussions to understand the models, features as well as trends in reefer truck segment with respect to customer demand and government regulations

Impact / Outcome

The client was provided with an understanding the cold chain and reefer truck market in India
The client was able to make strategic decisions on their reefer truck initiatives after understanding the consumer cold chain applications and logistic services in India

Let's talk

Market potential assessment of non-food opportunities for 2W compatible deliveries and adjacency expansion

Objective

A hyperlocal delivery player wanted to understand other relevant tasks which can be carried out by its 2W fleet, current pain points and paying propensity

Methodology

Generated a long-list of potential use cases based on secondary research
Conducted in-depth conversations (N = 30) with main stakeholder in each of the use case to prune the list
Interviewed stakeholders (N = 100) across the shortlisted use cases to gather relevant insights
Researched on the market size of each of the use cases both in terms of order and value scales
Mapped the current service providers and the pain points

Impact / Outcome

Client got detailed insights on use-cases to expand its operations away from food business, potential pain points and competition benchmarking

Let's talk

Market sizing & target segment determination for an Indian RE player

Objective

A large retail chain in India wanted to understand the MT potential of Pune and estimate it’s market share compared to other leading players across apparel and groceries / F&B categories

Methodology

Conducted interviews of 50 consumers across income types to understand their consumption on various relevant categories and share of MT in purchase
Conducted interviews of N = 30 retailers (GT & MT) to understand their revenues across the key categories
Secondary research to understand the population of Pune and its catchment and spend of consumers across categories
Survey of N = 300 consumers to understand their spend on key categories and it’s split across GT, MT & online

Impact / Outcome

Successfully sized the retail market potential across various key categories like groceries, apparels, fruits and vegetables, dairy, etc.
Estimated share of MT in the Pune retail market across key categories
Estimated market share of client and other leading competitors present in the city

Let's talk

Market potential of 2W rental services

Objective

A PE firm was interested in evaluating an investment in one of the shared mobility service providers and wanted to understand the market potential (TAM, SAM, growth, etc.) for the same

Methodology

Secondary research to understand the increase in penetration of 2W rental services as a % of total motorized trips
Triangulation using market potential for similar models in international geographies
Conducted primary conversations with customers (N = 1000) to understand their needs, requirements, selection criteria, stickiness for the service provider across 15+ cities
Conducted competitor interviews (N = 20) to understand Target’s positioning and growth across different types of cities
Carried out trade interviews (N = 10) for supply validation i.e. availability of infrastructure, parking norms in cities, docking station charges, etc.

Impact / Outcome

Client understood the market potential and potential increase in penetration of the 2-W renal services, growth drivers in the market

Let's talk

Market potential assessment for an industrial explosives manufacturer

Objective

An Indian based industrial explosives manufacturer wanted to expand internationally and conduct a deep dive study in terms of primary and secondary research for assessing the market in terms of fragmentation, regulations for launching in the country, taxation policies, etc.

Methodology

Detailed study was conducted on the shortlisted countries through secondary and primary research with the industry experts of the country.
Minute details in terms of sourcing, payment terms, pain points of different relevant stakeholders and others were presented in detail which could impact the decision of the investments.
Primary discussions with key players in shortlisted countries were undertaken to understand on ground realities (N = 15)

Impact / Outcome

Helped the client to identify a market of USD ~3B for industrial explosives after incorporating the inputs from the market along with the existing pain points which helped them to understand their value addition for the market.

Let's talk

An Indian hospitality player was interested in assessing the market potential for a multi-asset type property management software vendor (SaaS platform)

Objective

Market sizing exercise (bottom-up and top-down estimates) to understand the market and assess market potential in the medium and long term

Methodology

Conducted market sizing exercise and product benchmarking to understand market attractiveness and potential
Estimated 5 year revenue & EBITDA growth using 3 scenarios: BAU, base case & aggressive growth case
Conducted deep secondary research to identify relevant market sizing inputs, SaaS property management platform growth drivers in developed economies and global operational benchmarks

Impact / Outcome

Successfully provided the client with deep, comprehensive market profile study in SaaS platforms for property management, defined market attractiveness and product attributes needed to win market share

Let's talk

Market potential assessment for a metal fabrication aggregator

Objective

An Indian based metal fabrication aggregator wanted to expand internationally and conduct a deep dive study in terms of primary and secondary research for assessing the market in terms of fragmentation, regulations for launching in the country, taxation policies, etc.

Methodology

Extensive study was conducted on the shortlisted counties through secondary and primary research with the industry experts of the country.
More minute details in terms of the fulfilment cycle of the projects, sourcing, payment terms, pain points of different relevant stakeholders and others were presented in detail which could impact the decision of the investments.
Primary interactions with key players in shortlisted countries were undertaken to understand on ground realities (N=15)
Unit economics of relevant stakeholders was also estimated based on the discussions for better market understanding.

Impact / Outcome

Helped the client to identify a market of USD ~ 5.0B for steel fabrication products after incorporating the inputs from the market along with the existing pain points which helped them to understand their value addition for the market.

Let's talk

Market potential estimation for H2-blocker for treatment of gastric ulcers

Objective

A pharma player developed a next generation H2-blocker for the treatment of gastric ulcers. After showing strong sales and growth in EU5 markets, the company is now looking to expand the sales of the drug to South East Asia and wanted to understand market potential in these countries

Methodology

Conducted in-depth study of intricate epidemiological data from proprietary databases for 5 countries to estimate disease incidence
Combed through demographic data to understand affluence and estimate TAM (Total Addressable Market)
Conducted In-Depth Interviews (N = 15) of medical practitioners to understand current modes of treatment of gastric ulcers
Conducted In-Depth Interviews (N = 10) of ex-senior leadership in competitor companies to estimate future market potential for the client
Conducted consumer survey (N = 600) and in-depth consumer interviews (N = 25) in 4 weeks across 40 cities in 5 countries to estimate willingness to switch to client’s drug
Carried out product and service benchmarking for key players offerings treatments for gastric ulcers currently

Impact / Outcome

Client understood market potential in each of the 5 targeted countries along with a preliminary idea of SAM (Serviceable Addressable Market). An estimate of willingness to switch to client’s treatment country-wise was provided which subsequently helped the client prioritize market launch for the drug.

Let's talk

Market potential estimation of SaaS offering for SMEs

Objective

A leading SaaS based solution provider wanted to understand the market potential of its lite offering for SME clients

Methodology

Conducted deep conversations with SMEs (N = 80) to understand software needs and perception
Detailed market sizing to estimate business potential in the first 2 years of operations
Drivers and barriers of adoption were identified based on key stakeholder conversations (N = 10)
Carried out price and service benchmarking for key software offering models (on premises, cloud-based, license based)

Impact / Outcome

Client was able to understand the market potential and key drivers / barriers for growth among Indian SMEs

Let's talk

Potential market assessment for cross-border payments

Objective

A global online payments company wanted to size the digital market of exports within a range of USD 10K across goods & services in top 10 verticals in buyer countries. The client wanted to develop its EBITDA strategy and evaluate growth trends in different categories. Further, they also wanted to understand payment options available to exporters and competitive differentiation with key players

Methodology

Developed four-step approach to shortlist key sectors and estimate TAM (Total Addressable Market) for export of goods and services
Conducted in-depth interviews with a comprehensive list of N = 200 players across the export corridor with an indication about their scale – traffic, no. of transactions
Triangulated market sizing with bottom-up analysis using a 7-step approach across goods and services
Estimated TAM for online and offline export of goods and services after shortlisting key verticals and identifying addressable segments (transaction size, number of transactions etc. player-wise in each vertical
Identified key export corridors in each shortlisted vertical and top players in shortlisted geos that could be onboarded
Understood key competitors’ strengths and weaknesses by elaborate secondary research

Impact / Outcome

Client understood the size of the digital market of export and its current market share along with their standing in the market. The client was also able to successful create their EBITDA model based on inputs from research

Let's talk

Sizing the market for FinTech subcategories

Objective

An established PE player wanted to understand the size of various categories within the FinTech space. The study involved a deep dive into multiple verticals within the FinTech space, especially in the Indian context to understand market size and penetration of each category/ sub-category.

Methodology

Identified the verticals within the FinTech space and categorised FinTech players basis their positioning and product proposition
Identified 6 key verticals and developed market sizing methodology for each vertical
Identified relevant growth drivers and key growth areas for these 6 verticals
Conducted in-depth interviews (N = 20) with customers and industry professionals to understand key pain points and growth areas
Conducted in-depth secondary research to identify unique metrics and industry parlance to evaluate performance of prominent players within each vertical
Within each of these verticals understood market penetration and developed an understanding of the extent of adoption in the digital space of traditional finance categories

Impact / Outcome

Client developed an understanding of the FinTech space in terms of size and growth drivers, especially in the Indian context with a special focus on 6 key sub-categories

Let's talk

Market assessment study of Indian e-commerce logistics

Objective

Client wanted to understand Indian e-commerce logistics market size, structure, key drivers and key risks / challenges

Methodology

We used the bottom-up approach to be calculated current and projected market using number of online shoppers, average purchase frequency, % returns, shipments per order and yield per shipment
We understood market structure by calculating demand generation split, shipping platform and Logistics service provider split
We understood value propositions and growth drivers for different LSPs (Captive, specialized and traditional) and LSP consolidators
Opportunities and challenges were understood for all the market segments

Impact / Outcome

Client was able to understand Current E-commerce logistics current market size, future projections, market structure, growth drivers as well as key existing risks and new challenges

Let's talk

Market potential assessment of AgriTech landscape in India

Objective

A leading investor wanted to understand market opportunity for AgriTech solutions and services in India; the market size, segments, growth enables & barriers
Client wanted to understand competitive landscape to understand the major players, their scale of operation and business models
Client wanted to analyze the perception of different stakeholders – farmers, retailers and institutional stakeholders regarding the key players

Methodology

Conducted in-depth interviews with farmers (N = 100), retailers (N = 40), institutional stakeholders (N = 15)
Created discussion guides and transcripts covering insightful, deep level questions
Benchmarked competitor’s basis business model and scale of operation via deep primary & secondary research
Conducted secondary research using leading news publications, player websites, reports & Government databases

Impact / Outcome

Client was able to understand the AgriTech space in India, the market size & growth outlook and was also able compare the major players basis solutions and offerings, business model & scale of operations
Client also understood the perception of different stakeholders (farmers, retailers and institutional stakeholders)

Let's talk

Market assessment for a radiology player

Objective

A radiology player wanted to understand the customer’s acceptance of the 6 offerings and design an ideal offering that would be preferred by the customer segments and its optimal pricing

Methodology

Conducted primary conversations (N = 30) and visited different types of radiology labs
Conducted expert interviews (N = 10) for adoption possibilities of the offerings
Conducted 440 surveys (N = 160) for conjoint analysis

Impact / Outcome

Enabled the client to understand the adoption level across of the services offered and understand the attributes / features to take to the market and at what price segment

Let's talk

Market assessment for opportunities in supply chain financing in B2B commerce

Objective

Client wanted to assess the opportunity in providing credit to the supply chain participants in the maintenance, repair, and operations product market

Methodology

Conducted in-depth qualitative primary conversations with 80+ channel partners and N = 50 customers to identify and assess their behaviour and preferences
Understood channel partner behaviour – technology usage, margins, credit usage, and credit partners involved in the system

Impact / Output

Client was able to get a holistic view of the supply chain & its intricacies and got an overview of the opportunities in the space

Let's talk

Market sizing and growth projection of MRO products

Objective

Client wanted to understand the B2B spend in the addressable maintenance, repair, and operations product, and respective drivers of growth / inhibitions

Methodology

Identified requirement of MRO supplies across manufacturing organizations, including their sourcing need, frequency and efficiency in procurement from the traditional supply chain
Segregated the market into various products and services verticals
Benchmarked key market players on various features and operational parameters across these segments