Being in a place where you have no competition is better than being where you think there is a huge market. Make your consumer perceive there is no competition. Be first in that space that you create for your product, and entrench yourself so deep in your customer’s mind, it’ll be hard to get you out.
“As to methods there may be a million and then some, but principles are few. The man who grasps principles can successfully select his own methods. The man who tries methods, ignoring principles, is sure to have trouble.” – Ralph Waldo Emerson