Go / no-go decisions · TAM/SAM/SOM · Framework-led recommendations

Market Opportunity Analysis That Turns Data Into a Decision.

After 884 market opportunity analyses across 414 industries, we can spot a $160M opportunity from a $2M trap in the first week. You get a defensible TAM/SAM/SOM, a competitive map without blind spots, and a clear go/no-go — not a 200-page deck that ends with 'it depends.'

  • TAM/SAM/SOM built three ways and reconciled before the recommendation is written
  • Frameworks applied end-to-end: Ansoff, Porter, SWOT, PESTLE — against your actual question
  • Retainer-based · 2–4 weeks standard · 7–12 day expedited when data is ready

Waveup is a boutique strategy and fundraising advisory that has completed 884 projects across 414 industries in 64 countries since 2014. Waveup's market opportunity analysis work has supported $3B+ raised across 600+ companies, including a South Korean turnaround that delivered $160M in retail sales. Clients have raised from Antler, Bessemer, Creandum, Cherry, and a16z.

Chosen by global brands and VC-backed startups

The numbers behind our market opportunity analysis practice

884
projects completed across 414 industries
$3B+
raised by clients we've supported
64
countries analyzed since 2014

When you need a market opportunity analysis

A market opportunity analysis is the go/no-go decision framework that sits between raw research and real execution. After delivering MOAs across insurtech, education, real estate, lithium, e-commerce, B2B SaaS, healthtech, CPG, industrials, and sports, these are the six moments founders reach for one.

    You're about to commit capital, hiring, and leadership bandwidth to a new market. Before you build the entry plan, you need to know the opportunity is real. Our MOA sizes the prize and spots the blind spots; once the answer is 'enter,' our market entry strategy engagement builds the execution plan.

    Your pitch deck market slide or CIM market section is about to meet investors who know the sector. Generic TAM math gets you dismissed; a defensible TAM/SAM/SOM — built on our market research engine and reconciled three ways — gets you a second meeting. We build the version that survives the partner round.

    Board-level go/no-go on a new product or line

    The board wants a yes or a no, not another workshop. A structured MOA — framework-led, recommendation-first — gives the board the evidence to approve, defer, or kill a product line without another six months of committee meetings.

    Prioritizing between several expansion options

    You have five opportunities on the table and capital for one. Our MOA scores each against TAM, competitive intensity, internal capability, and time-to-revenue — then ranks them. The output isn't a report; it's a prioritized list you can action this quarter, and it feeds straight into our market entry strategy engagement for the winner.

    Diagnosing stalled growth in an existing market

    Revenue is flat. You can't tell if it's the market, the product, the distribution, or the pricing. We've diagnosed exactly this pattern for a top-10 global footwear brand in South Korea — the answer was distribution, and the turnaround delivered $160M in retail sales. MOA is often the diagnostic step before a growth pivot.

    VCs don't fund TAM; they fund believable SOM with a path to SAM. Our MOAs have fed directly into decks that raised from Antler, Bessemer, Creandum, Cherry, and a16z. If you're raising, our fundraising consulting engagement bundles the MOA into the full investor package.

Frameworks inside a Waveup MOA

  • TAM / SAM / SOM
  • Ansoff + SWOT
  • Porter + landscape
Size the market: TAM, SAM, SOM — three ways, reconciled
Every founder overestimates TAM. We build market-size models three ways — top-down, bottom-up, and value-theory. When the numbers converge, your TAM is defensible. When they diverge, the divergence is usually the most important insight of the engagement.
Pick the right growth vector: Ansoff Matrix + SWOT
Penetrate, develop product, develop market, or diversify? Ansoff forces the question; SWOT surfaces the constraints. We map every opportunity against your internal capability — founder time, cash runway, team skill, regulatory exposure — so the recommended path is one you can actually execute. This is the framework that separates the four basic market opportunities: market penetration, product development, market development, and diversification. For early-stage companies, SWOT typically reveals that the bottleneck is execution capacity, not market size — the honest answer most boards need to hear.
Map the competitive terrain: Porter's Five Forces + landscape analysis
Porter's Five Forces tells you the industry attractiveness. Landscape analysis tells you who's standing where. We build both: a 5-force scorecard (supplier power, buyer power, entry barriers, substitutes, rivalry) plus a 15-dimension competitor matrix (pricing, features, distribution, segments, ICP, unit economics, funding, growth, tech stack, brand strength). Overlaid with a PESTLE view when regulatory or macro risk is material. The output is a competitive map with no blind spots and a clear answer on where to play — and where not to.

Our market opportunity analysis process

01 · Scoping

We pin down the exact decision — enter/exit, launch/kill, prioritize — so every downstream step serves one question, not a generic market report.

02 · Primary research

5–15 customer interviews plus expert and distributor calls, powered by our market research engine. We hear the market before we open a spreadsheet.

03 · Market sizing

TAM/SAM/SOM built three ways — top-down, bottom-up, value-theory — and reconciled on a single slide that holds up under partner-round scrutiny.

04 · Frameworks applied

Ansoff, Porter's Five Forces, SWOT, PESTLE — each framework run against the scoped question, not applied generically. Every framework surfaces a different blind spot.

05 · Recommendation

We write the one-paragraph go/no-go before the deck is built. If we can't write it, the analysis isn't done. Roughly 20% end with 'don't do it.'

06 · Handoff

30–60 slide deck, supporting financial model, 90-minute strategy session — plugs into your pitch deck and CIM market sections.

Bundled with research, entry strategy, and fundraising

Every MOA is backed by our market research engine — 414 industries, 64 countries, 50+ data sources per project. Research is the input; the MOA is the decision layer on top

Once the MOA recommends 'enter,' our market entry strategy engagement builds the execution plan — mode selection, localization, partner mapping, GTM sequencing across 50+ executed entries

For founders raising, the MOA output plugs into the pitch deck market slide and the CIM market section — no re-research, no number-drift between documents. See our growth strategy engagement when the question is about the next 18 months, not the next market

Recommendation-first, not report-first

The deliverable is a decision, not a data dump. We write the one-paragraph recommendation before we build the slides — if we can't, the analysis isn't finished

Roughly 20% of our MOAs end with a 'don't do it' recommendation. That saves the client 12–24 months of wasted execution and preserves the capital for the opportunity that does clear the bar

Industries we've analyzed: insurtech, education, lithium and batteries, real estate, e-commerce, B2B SaaS, healthtech, CPG, industrials, cannabis, sports and retail, deep tech — across 64 countries

Market opportunity analysis case studies

South Korea golf turnaround · top-10 global footwear brand

Five years in, sales were weak and share was shrinking. Our MOA diagnosed distribution as the root cause and recommended a partner switch.

  • $160M retail sales in 12 months, 65,000+ pairs sold
  • Market share <5% → 15% in one year
  • 100+ new distribution points
$160M retail sales in 12 months
15% market share, up from <5%
See full case
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Saudi mixed-use real estate · $149M raise

70+ pages of technical research distilled into an opportunity narrative for a first-of-its-kind AR/VR museum + retail + food complex with no regional precedent.

  • Positioned as a first-mover premium experiential destination
  • MOA output fed straight into pitch deck and CIM market sections
  • $149M raised; project under development
$149M raised in 3 weeks
70+ pages distilled into opportunity narrative
See more cases →
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LATAM e-commerce aggregator · $12M seed

We repositioned a Thrasio-style aggregator from 'global' to a focused LATAM category leader with a ranked market-by-market thesis.

  • Analysis across six LATAM markets; lead with Brazil and Mexico
  • Competitive positioning narrowed to a defensible regional leader
  • $12M seed from Tier-I US investors; deck featured in Business Insider
$12M seed round closed
LATAM e-commerce aggregator thesis
See more cases →
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The Waveup team has been a trusted advisor in not only helping us shape our pitch deck, but also in providing guidance and insight into the fundraising process and market.
Touradj Barman
CEO & Founder at Up 'n go

Industry:

  • B2B SaaS
  • Fintech

Services provided to the client:

  • Market analysis
  • Pitch deck
Insightful, strategically minded, experienced, thoughtful and proactive.
Walter Craven
CEO at Kabin

Industry:

  • Workspace solutions

Services provided to the client:

  • Market opportunity analysis
  • Financial model
Waveup helped in record time; everything was ready in less than a week, and best of all, the work was fantastic. I would recommend them to anyone fundraising.
Thomas Mazimann
Co-founder and CEO at Teamout

Industry:

  • HR

Services provided to the client:

  • Market research
  • Pitch deck

Which framework for which question

Framework
Market size?
Growth vector?
Competitive position?
Industry attractiveness?
Output
TAM / SAM / SOM
🟢 Primary
🟡 Supports
🔴 No
🟡 Hints
Defensible numbers
Ansoff Matrix
🔴 No
🟢 Primary
🟡 Supports
🔴 No
Strategy vector
Porter's Five Forces
🔴 No
🟡 Supports
🟢 Primary
🟢 Primary
Attractiveness score
SWOT
🔴 No
🟡 Supports
🟢 Primary
🟡 Supports
Internal / external fit
PESTLE
🔴 No
🔴 No
🔴 No
🟡 Supports
Macro risk map

Market opportunity analysis engagement tiers

Three scopes, three timelines, one recommendation-first deliverable. Retainer-based across all tiers.

Scope your MOA

Standard MOA

For board-mandated strategic reviews, investor-grade market slides, and pre-entry diagnostic work.

  • Retainer-based · 2–4 weeks standard turnaround (7–12 day expedited available)
  • Multi-framework depth: TAM/SAM/SOM, Ansoff, Porter, SWOT, PESTLE
  • 50+ data sources, 5–15 primary interviews, 15-dimension competitor matrix
  • 30–60 slide deck, supporting financial model, 90-minute strategy session

MOA + GTM Plan

For founders who want a decision and an execution path in a single engagement.

  • Retainer-based · 4–6 weeks end-to-end
  • Full MOA plus a go-to-market plan once the recommendation is 'enter'
  • Bundles with market entry strategy execution and growth strategy roadmap
  • Direct handoff into pitch deck or CIM market sections

Market opportunity analysis FAQ

What is a market opportunity analysis?
What's the difference between market opportunity analysis and market research?
What are the 5 stages of a market opportunity analysis?
What are the 4 basic market opportunities?
What frameworks do you use in a market opportunity analysis?
How long does a typical market opportunity analysis take?
How much does a market opportunity analysis cost?
Can you show me a market opportunity analysis example?
What industries have you done market opportunity analyses for?
What's included in a Waveup MOA deliverable?
When should you NOT do a market opportunity analysis?
How is market opportunity analysis different from a TAM/SAM/SOM analysis?
Do you do market opportunity analysis for international markets?
Can you run an MOA in parallel with our fundraise?
Do you guarantee the recommendation will be favorable?
Will the data I share be confidential?

Talk to the team that sizes your next decision

30-minute discovery call. We'll listen to the decision you're trying to make — enter, launch, prioritize, pivot — and tell you what an MOA built around your question should cover, how long it should run, and how fast we can ship it. No proposal, no pitch.