Zeroing in on High-Growth Opportunities
Companies need to identify growth opportunities in order to survive and thrive. Long-term planning and future technology roadmaps are important, but in a competitive environment and challenging economy, executives responsible for innovation increasingly need to also be able to deliver growth today in order to justify their investments. Emerging technology areas can deliver growth, but they also present challenges for companies hoping to capitalize on them, including:
- Long development times in many technology areas that make it hard to find near-term wins
- Significant hype in emerging fields that lead to dubious “hockey stick” projections
- Difficulty distinguishing hopeful technology push from real market pull
- Lack of information about unmet market needs that present opportunities to enter
How Lux Research Helps
Lux Research identifies near-, medium-, and long-term growth areas related to emerging technologies in the physical and life sciences, based on its methodology for studying these areas and helping clients understand them. Lux Research members can leverage the extensive insight and data from Lux’s wide range of primary research and analysis to home in on the most promising growth opportunities for their firm. Lux Research helps clients find growth in many ways, such as:
- Business development teams use Lux Research Market Reports and Market Data to assess emerging technology fields and identify high-growth opportunities
Example: An electronics company has capabilities that it believes can provide a more efficient inverter for connecting solar installations to the grid, and tasks a team with developing a business plan around it. Based on Lux’s detailed models for market growth and levelized cost of electricity, they focus on the geographies and market segments that will see the most expansion in the next two years and benefit the most from its technology.
- Strategic marketing groups can use tools on the Lux Research Member Site to identify new growth areas where they can play
Example: The Director of New Ventures at a large chemical company is looking for ways to leverage the company’s products into new growth markets. She goes on the Lux Member Site to produce a plot of categories where start-up companies are seeing high momentum and revenue growth, and identifies building-integrated vegetation (green roofs and walls) as a promising segment. Further inquiries with Lux Research’s experts in that area help flesh out unmet market needs her firm’s products and capabilities can address.
- Management teams use Executive Sessions with Lux Research to review key technology and market trends – like the shift to Smart Cities or the build-out of the Internet of Things-in-Motion – and workshop the implications and opportunities for their organizations
- New product development teams use Lux Research Consulting to help size and prioritize markets for potential new offerings and gather anonymous voice of the customer input without tipping their hand to competitors