The challenge
Digital valve solutions are entering industries where customers differ widely in digital maturity and in how much they value condition monitoring.
The client lacked a fact-based view of which segments were most interested, how large the market was, and how customers would respond to the product concept. Software integration concerns also posed a potential barrier to adoption.
Without this insight, it was difficult to build a business case, prioritize product features, or define the partnerships needed to bring the solution to market.
The solution
The client engaged BCE Consulting to analyze the global market for its valve health monitoring solution. BCE delivered the work in three phases.
In Phase 1, customers were assessed and segmented by digital maturity and interest in valve solutions. In Phase 2, BCE quantified the market and assessed the product concept. In Phase 3, BCE explored connectivity and partnership opportunities to help alleviate software integration concerns.
The findings were translated into implications for the client's business case and commercialization strategy.
The results
BCE developed a set of key implications for the client's business case and broader commercialization strategy. These clarified which segments to target and how to message to them, which elements of the product concept to prioritize during development, and which partnership opportunities would be required for success. The client gained an evidence-based roadmap for moving the solution from concept toward market.
