6 Disruptive Innovation Examples That Changed Industries – iED
Every month, a new company is heralded as a “disruptor” in the industry, with technologies and innovations that will change the landscape of the scene for years to come. But what does any of that really mean? In this short blog, we’ll be going over some examples of disruptive innovation across various industries to give you an idea of just how impactful it can be.
What Is Disruptive Innovation?
In a nutshell, disruptive innovation is a form of technological or ideological innovation that greatly affects the industry it comes from. It may also refer to smaller companies challenging established corporations at a larger scale with said innovative discoveries. It’s important to note that disruptive innovation doesn’t refer to the technology itself but rather the application or use of it.
How Does Disruptive Innovation Work?
The idea behind disruptive innovation is that it has the ability to shake up the market in unprecedented ways. Many industries currently exist with large companies that don’t feel much of a need to innovate as they’ve already secured a good spot in the market.
Companies that use disruptive innovation can potentially challenge these bigger corporations as they may offer products or services new and unique to the scene. Working with a Digital Innovation Hub (DIH) can help growing companies find their niche in a competitive industry.
Disruptive Innovation Examples
Tesla is a simple example of disruptive innovation. As one of the forerunners of standardizing and commercializing new automotive technologies, many consider the company a disruptive brand. There are two innovations that make Tesla a disruptor in the industry: electric vehicles and automated driving.
Electric vehicles aren’t new by any means, but Tesla innovated the scene by making it easy and generally accessible to own an electric vehicle. As you’d need to charge your car with electricity rather than fuel, electric car owners would have to refuel at home.
But Tesla also runs many car charging stations all over the country in the form of “Superchargers”. These stations are found in most major cities, so a Tesla owner can reliably charge their vehicle away from home.
Tesla’s automated driving is also an innovation that few companies can challenge at the moment. Automated driving is seen as the future of road transportation, and while it’s still a long way from being completely safe and reliable, the progress that Tesla is making is astounding.
Polymer Fusion Labels
Labelling plastic with images and diagrams is a requirement in many products. You can find labels on the back of aeroplane seats, devices, and much more. The issue is that these labels can fade over time due to wear and tear. However, thanks to technological advancements, a new form of labelling is available — polymer fusion.
Polymer fusion works by fusing the label to the plastic at the molecular level. This guarantees that the label will look just as good as it did when it was first fused onto the polymer. With the help of a polymer labels company, brands can create long-lasting products that won’t disappoint their customers even years after purchase.
Virtual Reality
Virtual reality is a form of technology that essentially creates immersive 3D environments that make the user feel like they’re actually in a virtual world. It requires the use of specialized hardware that you put on over your eyes, which displays the environment based on your head movement.
Virtual reality has great potential in the coming years as it’s essentially a new form of media and entertainment. And while it may not render more traditional forms of entertainment obsolete, its impact on gaming, interactive media, and even education is not to be understated. With its ability to transport users to fantasy kingdoms, sci-fi planets, and anything elsehttps://ied.eu/blog/health-wellbeing-blog/advantages-blockchain-healthcare/, virtual reality is here to stay.
A form of digital currency, cryptocurrency is a safe and secure way to buy and sell products. Using blockchain technology, cryptocurrency is nearly impossible to hack, making it just as safe as real-life currency. While some people do use cryptocurrency in the traditional sense, many others also trade cryptocurrencies among other owners, much like stocks and bonds.
While there is currently a heated discussion over the practicality and usefulness of cryptocurrency, many believe that it has the potential to be the future of currency as we know it.
Before Uber, most people would take a taxi if they wanted to get from one specific place to another. Using public transportation isn’t all that reliable depending on where you live or where you’re headed, so taxis were a vital part of a country’s transportation system. Thanks to Uber, however, all that changed.
Essentially, Uber allows anyone with a car to become a cab driver whenever they want. This lets car owners have a “side hustle” and earn a bit of extra money on the side while also working their day job. Some people even work full-time as Uber drivers. Thanks to its review system, passengers can leave reviews based on their experiences, encouraging Uber drivers to offer services that are arguably better than your average cab.
The Internet has made life more convenient for people in many ways, but no one could have predicted the success that Amazon currently enjoys today. As the biggest retailer in the world, it’s a platform where you can buy or sell pretty much anything you can think of — toys, furniture, appliances, and much more.
Before companies like Amazon, you’d have to go to a mall or store to buy what you wanted. And when it came to niche or rare products, you were at the mercy of the local store’s supply. Amazon has a wider selection of products than your local department store and delivers your purchases straight to your front door. This level of accessibility and convenience, combined with Amazon’s reliability, makes the company an example of how successful disruptive innovation can be.
In this day and age, companies and brands need more than just a good product to do well. The most successful corporations stay ahead of the curve through disruptive innovation. and no matter how big or small your business may be, all it takes is a good idea for the ball to start rolling.