September 26 (SeeNews) - Consulting firm Totaro & Associates today launched a tool aimed at helping wind turbine manufacturers choose what turbine models to add to their portfolio in order to increase market share.
The tool, called MKT Prism, creates predictive model of future capacity additions based on wind resource availability and existing product mix offered regionally around the globe, the market research and innovation strategy consultancy said. According to the firm, MKT Prism more accurately predicts future market share than conventional market evaluation tools as it takes into account the wind resource which has not already been built out.
Totaro & Associates also said it had secured a commercial order for the tool from an unnamed tier 1 global original equipment manufacturer (OEM), which planned to use it to develop its next-generation product platform.
The consultancy expects EUR 4.2 million (USD 4.7m) of revenue from the services over the next three years.
Chief executive Philip Totaro said the firm had received inquiries from multiple OEMs and sub-component suppliers based on the Beta demos provided earlier this year. "In addition to understanding where they need to go next, most companies are keen to understand what their competition is up to," he added.
(EUR 1.0 = USD 1.124)