Patent protection is critical within this business as a strategy to slow direct competitors and increase barriers to entry. PORT owns a patent for its product and technology.
Current players have been very selective in the target consumer audiences their Secure Reception products reach. Additionally, they are seeking ways to minimize costs by manufacturing products that can be leased and reused. This helps amortize the costs, keeps the products on the books as an asset, and keeps consumers from having to make a large upfront purchase.
Online commerce growth and consumers’ comfort to trust the process more and more is pushing the need for Secure Reception options. The small nature of most of the companies proves engagement by passionate entrepreneurs envisioning a unique market opportunity that will inevitably grow due to natural dynamics. As this industry moves into the Introduction Stage of the Product Life Cycle, larger companies will begin to take the space more seriously, and may do so by buying out a smaller competitor with a proven product, but lacks the capital needed for large-scale expansion.