Aside from the technical aspects of your competitions' products, you need to visualize the current market demand and get a realistic profit expectation. For help with more complex market analysis, considering contracting a company like Inventhelp to get an expert opinion.
Final Thoughts
While there is no pressure to make a prototype for your invention idea, most serious competitors will want to have one (or more) to grab attention from investors. Even taking a look at crowdfunding sites, those with working prototypes gain more attention and funding than those with just written concepts. Beyond the prototype, effort must also be put into marketing it to become a big success.
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https://steemit.com/inventions/@fiserman/how-you-should-make-an-invention-prototype
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