A – Recreational Boating – National Marine Manufacturers Association https://www.nmma.org/advocacy/economic-impact/recreational-boating
B – The National Recreational Boating Safety Survey https://storymaps.arcgis.com/stories/88843802027049299d25ae755b724ccd
C – Strategis Shapinging Recreational Boating 2025-2030 https://uk.finance.yahoo.com/news/strategies-shaping-55-2-billion-103700391.html#:~:text=Dublin%2C%20Aug.%2025%2C%202025%20(GLOBE%20NEWSWIRE)%20%2D%2D,2030%2C%20rising%20at%20a%20CAGR%20of%206.70%25.
Our primary market is the US. This is the country with the largest number of boats registered, the largest percentage of population involved in boating and a large percentage of that boating community have the money to spend on their recreational activities.
The PSIDON starting market is moored vessels in New England. A highly seasonal region with a well funded user base and a number of marinas that make it suited for PSIDON’s value proposition to be tested and honed.
The SaaS nature of the PSIDON assistant allows rapid scaling when we have demonstrated a viable business model. The intent being to market the product down the US East coast to Florida and around to Texas. From there we will push to the rest of the US.
This will then give PSIDON a foothold in a quarter of a trillion market!
A – Based on data from US recreational boat sales versus estimates of global recreational boat sales assuming same relationship between boat sales and total recreational spend
B – Based on total boats registered in the US versus available Marina moorings – https://www.insideselfstorage.com/insurance/inside-self-storage-magazine-6-98-marina-vs-boat-storage
C- Based on reported recreational boating spend in New England, carrying over total/moored boat ratio – https://www.neboating.com/economic-impact, https://www.nmma.org/assets/cabinets/Cabinet508/Vermont_Boating_Economics.pdf, https://www.nmma.org/statistics/article/24361, https://www.nmma.org/press/article/24417, https://rimta.org/wp-content/uploads/2024/06/RIMTA-by-the-Numbers.pdf, https://www.nhbr.com/u-s-outdoor-recreation-industry-reaches-1-2-trillion/
The Competition
There is limited competition for the PSIDON product, many of the support software offerings being targeted at specific functionalities to assist the more experienced boat operator. The PSIDON platform is built to be useful to all boat owners, dependant of their experience level
The PSIDON platform is a full featured product with clear focus on the “Jobs to be Done” to meet the actual needs of our user base and deliver a value proposition that none of the existing players in the market can compete with at present