Technology to help makers design their technology innovations is increasingly available and easy to use. At the same time, figuring out the right market to target and getting financial support to launch a new product, is getting increasingly difficult. These are the key findings of a new survey by conducted by electronics distribution giant Avnet of its Hackster.io community.
More than three fourths of the makers surveyed report that developing and testing prototypes is getting easier. Meanwhile, almost half say that identifying the right technologies to use for a product becoming and easier task than ever before.
“Entrepreneurs are working on multiple projects at once, across various technologies and industries, and the development process can be long and complicated. While it’s getting easier to build products, startups are finding it more difficult to overcome key obstacles in taking their technology products to market,” said Bob Merriman, business development manager at Avnet in a written statement.
All stages of product development are not created equal, of course. One third point to prototype as being the most critical stage while 22% name early stage development as most important. In terms of supporting technologies, sensors (mentioned by 84% of those surveyed) and Internet of Things (IoT) (mentioned by 77% of those surveyed) topped the list as most important in the design of new products and services.
Other insights gleaned from the survey:
- Many startups are developing several applications simultaneously.
- Consumer goods, IT & data analysis/utilities, and not-for-profit applications are most common.
- Most makers have not sought funding, and those who did secured funding during the prototype phase.
Take a look at the infographic below for more details about the survey.
— Hailey Lynne McKeefry, Editor in Chief, EBN