I need to develop a new tool, something that is not currently available in the market
Suggest you speak with you peers and management to find out if there is some function that they do not have that they would benefit from having.
Something you might consider that while there are many expensive "tools" in the market that are not on your system, it may benefit your organization to implement similar functionality (or a subset) locally. Many (most) sites have some amount of local "own code" tools.
Is there some management direction to do this, or is this for educational reasons?