The global market size for home water filter systems reached $11.48 billion in 2020 and it is projected to skyrocket at a compound annual growth rate (CAGR) of 15.9%, reaching a staggering market size of $24.11 billion by 2025. Just imagine the incredible potential and opportunities that lie within this booming industry.
In the United States, safe drinking water has become a mission critical project for both state and federal governments. Between 2017 and 2021, they allocated a budget of over $25 billion to ensure access to clean and safe drinking water. In 2022, the US government passed the infrastructure law with a budgeted funding of $50 billion for the EPA to tackle clean drinking water.
Customers as part of our team :
Engaging with our customers as one team, we embarked on a collaborative journey to define their product and assess the market. Our customers expressed a desire for a solution that goes beyond traditional water filtration, providing real-time monitoring, notifications, and intelligent data analysis.
To define an effective go-to-market strategy, we collaborated closely with our customers to understand their preferences and explore the most impactful channels to reach them. We identified key marketing messages, customer acquisition channels, and pricing models that resonated with their needs. By leveraging their insights, we crafted a compelling strategy to introduce their product to the market and effectively communicate its value proposition.
In consultation with our customers, we developed a roadmap that outlined the product's evolution over time. By prioritizing their requirements and aligning them with their strategic goals, we established a clear path for development and enhancement.
Together with our customers, we established realistic timeline estimates for product development, ensuring transparency and accountability. We considered factors such as technical complexity, resource availability, and market demands to establish achievable milestones. Regular communication and collaboration helped us manage expectations and keep our customers informed about the progress and anticipated timelines.