Quantitative Estimation of Market Size
In order to understand the nature of the Australian market and strategize to launch a product in the new market, it becomes necessary to assess or estimate the market size/potential in Australia.
The market size can be determined using various perspectives:
(1) Combined annual revenue ($’m) of all suppliers of eye-tracking services in Australia
(2) By using the industry sectors determinant of market size and factoring them by the willingness of companies to spend on usability & eye-tracking services, to arrive at a market size estimate. These industry sectors are a product of our research and expert in-depth interviews carried out.
We shall evaluate the potential based on the second method (2).
Other methods of finding market size are mentioned in APPENDIX A
The following section gathers all of the segments which have been deduced by our research using surveys and interviews.
They include:
Market Research services
Online information & media services
Web, mail-order and e-commerce
Outdoor media
Print media
Other advertising services
IT services (desktop applications developers)
1) Relevant Industry Size by Combined Market Research, Visual media and advertising industry activity (Expenditure on communicating via different media)
This factor does give us a direction on attractiveness of the Market Research, media and advertising market which tells us if there is enough scope for generating eye-tracking sales.
Some of the interviews lead us to think about lack of demand for eye-tracking in Australia (Tony Marlow Appendix C), although increasing customer awareness on eye-tracking and the returns it can generate will increase the willingness to spend, hence increasing customer demand.
Expenditure on communication through different media
1) Market Research is seen as a potential area for Realeyes to exercise its service-offering in Australia. As Realeyes have had exposure catering to these segments in Europe and US, such as print media and digital adverts, it imposes upon us to carry out research on the industry size of market research by revenue. The table below shows the statistics for market research industry.
Source: http://www.ibisworld.com.au/industry/retail.aspx?indid=565&chid=1
2) Online information & media services industry in 2008 (Industry size)
The table below shows yet another industry’s size by revenue that has been targeted by Realeyes in the UK as a segment.
Source: http://www.ibisworld.com.au/industry/retail.aspx?indid=556&chid=1
3) Web and e-commerce: The table below shows the revenue earned from Online Shopping and Mail-Order Houses in Australia:
Source: http://www.ibisworld.com.au/industry/retail.aspx?indid=1837&chid=1
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