4 Awesome Examples Of Disruptive Innovation

Disruptive innovation is all about spotting opportunities presented by the market and exploiting them successfully. Companies that identify such opportunities look to provide something different, convenient, affordable, reliable, and answer neglected customers' needs. Disruptive innovation is only possible when a company takes advantage of lower-performing spaces to establish itself. Several advancements make the business a strong competitor and might outpower the existing competition. With a superior product and excellent knowledge of the target audience, the new company establishes itself and pushes the existing players out.

One of the reasons why disruptive innovation is real is because bigger and older companies overlook the new entrant with the notion that they are operating differently. Before they know it, they have taken over the market and cannot compete with them on the same level. To give you a better understanding of how this works, we have sampled a few examples. Check them out!

1. Web-based video

The introduction of Netflix is a massive innovation and the latest trend. It has revolutionized the film industry changing how we watch. On-demand viewing is the current talk of the town and almost makes traditional broadcasting models irrelevant. Netflix and other similar players have changed how we watch content. The convenience is superb, considering you can watch at your schedule without putting up with annoying commercials. Habits are changing, and Netflix is not the only platform leading this transformation.

2. Lightbulbs

You cannot leave out the lightbulb industry when talking about disruptive innovations. LEDs and CFLs disrupted the entire usage of incandescent light bulbs. For a long time, the realistic choice to many people was incandescent bulbs. The initial introduction of LEDs was not a success. They were not convenient, and no one imagined they would come to dominate the market. However, eventually, LEDs increased their reliability and suddenly were the preferred option. The LED bulbs come in two types: Heavy-duty LED lights and commercial LED lights. Let's take a look at some of the uses of the heavy-duty LEDs:

3. Marine lighting

With Phoenix heavy-duty products, inland waterway, ocean-going and military vessels can take advantage of superior exterior and navigation lights to ensure the safety of their crew.

4. Ports and terminals

Heavy-duty LED lights allow ports and terminals to enjoy safe nighttime operations.

Another area that has benefited from these LEDs is commercial and military airports. A large area lighting solution allows the ground crews to work with efficiency and precision.

LEDs have made a mark on nearly every industry, and the above are only but a few examples. These are some of the reasons why they are gaining so much traction:

·         High efficiency

·         Durability

·         Affordable

Unlike incandescent light bulbs, LEDs are an excellent alternative.

5. Internet of Things (IoT)

IoT is all about identifiable objects represented virtually on the internet. Many objects have been equipped with machine-readable features, and it could be a breakthrough that changes the lives of so many people. The inclusion of IoT devices in various industries such as healthcare, mining, manufacturing, and others is bound to change how business gets done. IoT is an exciting innovation and a disruptive one considering everything it touches.

6. Apple iTunes

In 2001, Apple released the very first iPod. It was portable and could hold many songs thanks to its storage capacity. The iPod was never meant to initiate disruptive technology. There were other devices before then, but it was an improved addition. However, Apple’s first disruptive attempt was the introduction of iTunes. iTunes combines online access with a media library and music. The introduction of the internet to the music curation process was the real disruptive innovation. It changed how people listen to music for good, and things like Walkmans, CDs, MP3 players have only become irrelevant.

Disruptive innovation works, and it only makes our lives better. While they may push old players out of the market, they bring something better, which is why we should try to embrace these disruptive innovations. Leading brands in this field are becoming quite successful and satisfying their target audience. With various technological advancements, you can only bet there will be more innovation in the future.