What is the best way to forecast demand for new technologies?
Forecasting demand for new technologies is a challenging but essential task for innovators, entrepreneurs, and investors. How can you estimate the potential market size, adoption rate, and customer preferences for a product or service that does not exist yet? In this article, you will learn about some of the best methods and tools to forecast demand for new technologies, and how to apply them in different scenarios.
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Leverage analogies and scenarios:Compare your new technology to a similar product's adoption curve to estimate demand. Craft plausible scenarios on how and by whom the technology will be used, refining your forecasts based on these narratives.### *Utilize surveys and experiments:Conduct surveys to gauge potential customer interest and willingness to pay for your new technology. Follow up with experiments like beta testing to measure real-world usage and satisfaction, ensuring your forecasts are grounded