The temptation to seek a large market opportunity makes for a very compelling business case, however large markets are a myth as it is really the aggregate of many, many use cases and segments that might ‘categorically’ be similar enough to be called a ‘market’. Realistically an entire protfolio of products would be needed to serve such broad needs and preferences, leaving the innovator and visionary with overwhelming scope to design.
The trajedy is that very attractive market opportunities only appear as small relative to the core of the business that often serves a large and mature market, seemingling too small to be worth pursuing. If given investment, the niche emerging market segment that has not been noticed or sized by large market research firms, may actually be larger and overlooked by competitors while also addressible by a much more manageable product development scope.