700477Silicon Safe Proof of Market projectClosedGRD Proof of MarketInnovate UKSilicon Safe’s Proof of Market project is an investigation into the future market opportunity for a new password protection technology. Online bulk identity thefts are one of the most common forms of cyber-attack and cost a business up to £850k, while having a significant negative impact on all of its customers. Silicon Safe’s Password Protect solution is unhackable and will save businesses a significant of time and money while preserving reputation and customer safety. Silicon Safe, in collaboration with Milner consultants, are going to profile the market opportunity. Firstly research will be carried out into the target sectors, which will include sectors including retail, media and insurance, future trends in these sectors, key competitors in each sector, the size of companies in each sector and other important areas that emerge. Secondly, the target regions will be profiled looking at key market drivers and barriers to entry. These profiles will include country demographics and regional factors affecting adoption of the Password Protect technology. Thirdly, competing technologies will be profiled with a comparative summary of functionality, and the key competitors within each technology will be identified. Competitor strategies will be identified based on their portfolio mixes and regional focus, and pricing for similar products and services will be collected where possible. Fourthly, primary research with key industry stakeholders will be carried out to validate the opportunity and identify potential barriers to uptake. This background research will feed into a bespoke Excel-based market model to quantify the opportunity in each segment over the next 20 years. A final proof of market report will be written summarising the market opportunity in volume and value terms and split by sector, by technology, by company size and by region. This will be used to develop strategic options and recommendations covering suggested routes to market and brand positioning.