Someone will always be either building what you'd like to, or chasing after you with a competitive product trying to eat your lunch.
Any market worth being in, will have plenty of competition early on.
Primarily you have to ask yourself if you can add value to the segment you're talking about. If you have something worth-while to offer customers / users. Such questions remain regardless of the competition or lack thereof. If you've got something valuable to offer, build it. There is always an angle to take against a seemingly superior competitor, whether that's on price, features, support, customization, ease of use, et al.
Any market worth being in, will have plenty of competition early on.
Primarily you have to ask yourself if you can add value to the segment you're talking about. If you have something worth-while to offer customers / users. Such questions remain regardless of the competition or lack thereof. If you've got something valuable to offer, build it. There is always an angle to take against a seemingly superior competitor, whether that's on price, features, support, customization, ease of use, et al.