3D Technology - Essay Example

Name: Instructor: Course: Date Introduction 3D technology Three-dimensional technology enables images to be displayed in a way that appears to be physically present with a designated structure. 3D innovation allows the human eye to view images in various dimensions such as width, depth, and height (McAllister, 2002). Type of innovation Fuel3D is an information technology innovation. Fuel3D introduced the innovative 3D Scanify scanning and imaging technology device. Fuel3D design scanning machines that have the ability to capture 3D data within 0.1 seconds in high definition. For instance, stereoscopic imaging technology has the capacity to obtain accurate 3D details from an image while photometric stereo technique acquires color and high-definition 3D detail from the image. Their portable 3D scanners integrate movement compensation technique that is used to account for the movement of the scanner during the process (Fuel-3.com, nd). Disruptive Innovation The innovations will replace traditional manual processes that tend to be expensive and slow. Previously, face scanning for eyewear was not efficient, but with Fuel3D consumers will have the ability to capture data in significant ways (Fuel-3.com, nd). Disruption in the 3D might become a bit perplexing for scanning industry. The scanify 3D scanner can be purchased at a price of $1,490.00. This is cheaper compared to other scanners available in the market. The product is a market disruptor which allows many opportunities for consumers deviating from the past models of scanning technique. Product life cycle Introduction The Fuel3D scanner was originally created for use in high-end medical industry sector. The 3D scanners were introduced to the professional consumer marketplace at a lower price compared to other scanning solutions. The product was launched at the 2015 international CES. The scanify 3D scanner can be purchased at a price of $1,490.00. A Fuel3D awareness objective is to build a reputation through informative advertising and demonstrate the product as an affordable, handheld 3D scanner that allows consumers to scan objects in high-resolution shape and colour within a second (Fuel-3.com, nd). Fuel3D gained global attention by engaging in a successful kick-starter campaign in 2013. The organisation managed to secure millions in private investment and signed retail and distribution partners across the world in preparation for the launch of Scanify (Fuel3D, 2016). Growth stage The fuel3D scanify technology has expanded into the education market. 3D scanning is a new technology that can help promote creativity and innovation in the classroom. Students have the ability to translate their creative ideas into 3D objects. The company has already singed 3D scanner distribution deals with UFP, a pan-European distributor of computing and printing equipment and accessories. This will increase sales of the scanner in Germany, Austria and the Benelux areas. UFP represents major brands such as HP, Canon, Epson and Samsung. The 3D scanify has eradicated the cost and technical barriers that limit consumers from adapting 3D scanning and printing. Maturity stage This is the phase whereby 3D Scanify technology has been accepted by consumers (Shahmarichatghieh, Tolonen and Haapasalo, 2015). Unfortunately, the market reaches saturation and competitors emerge. Competitors release a new innovation designed to compete with the 3D scanner technology. This can result in reduction of profits as the 3D technology becomes a commodity. At this point Fuel3D should provide software updates, new features and redesigning the 3D scanner. Each year the organization should introduce a new design to attract more sales and maintain revenue levels. Decline stage Technology becomes obsolete with time. Fuel3D will stop manufacturing 3D scanify scanners and providing support for the product. This phase can take several years since the company has signed contracts with several organizations (Shahmarichatghieh, Tolonen and Haapasalo, 2015). However, the Fuel3D can take advantage of opportunities and existing market to develop a new innovation better than Scanify 3D scanner. Fuel3D should phase out the 3D scanner and introduce a new innovation that will yield more profits. The new product should target the previous 3D scanify technology. Adoption attributes Fuel 3D scanning technology has been in existence for about a decade. However, the technology has gained considerable adoption rate in the last few years. About 5 years ago, 3D scanning was not a common phenomenon. Key attributes influencing market adoption of Fuel3D scanners include portability, high efficiency, accuracy, and ease of use and friendly prices. The hand-held feature increased market adoption because if minimizes risks involved in several areas such as high energy densities, modular design and fabrication methods (Fuel3D, 2016). Fuel 3D scanify scans relative has relative advantage (Ho and Wu, 2011). Scanify is the only scanner in the world to integrate pre-calibrated stereo cameras with photometric imaging technology to capture 3D images within a second. This unique innovation allows scanning of objects that might during capture. The innovation provides client with convenience, ease of use, ability to customize and friendly prices. First mover approach First mover-approach is a strategy used to gain competitive advantage by being the first to launch a product in the industry. Fuel3D can make high revenues by being the first to enter a particular market or industry. Fuel3D is the only company concentrating on development of 3D scanners in the market. This implies that the company has adequate time to perfect their product. Also, Fuel3D will acquire superior brand recognition and client loyalty (Green, 2004). Protection strategy Fuel3D may easily lose revenues due to competitors and imitators in the technological industry. The company can use several strategies such as innovation and seeking legal protection for the 3D scanner technology (Davis, 2002). Patents, trademarks, trade secrets and copyrights are some of the ways of addressing protection issues. Fue3D founders, Prof. Ron Daniel and James Patterson obtained the first patent for 3D scanner in 2005 before the kickstarter campaign. In 2014, Fuel3D obtained another patent for 3D imaging system (Justia Patents,nd). Patent will give Fuel3D exclusive rights to manufacture, sell, and use the Scanify scanner for a limited time period. Additionally, the company’s chief technology officer; Andrew Larkins provides ideas on how to patent their design. Fuel3D and its related logo are trademarks f Fuel3D Inc. Fuel3D scanify and Pellego are registered trademarks under the name Fuel3D Technologies Limited. Trademarks, copyrights and patents have made it hard for imitators to copy the 3D innovation (Fuel-3.com, nd). Consumers can identify and differentiate Fuel 3D products from other scanners. Complementary assets Complementary asset for Fuel3D is the strong leadership. The 3D innovation is unlikely to produce great revenue without support from appropriate managerial and organizational changes. Fuel3D management team comprises of professionals in hardware and software engineering. Also, they have seasoned professionals in commercialization and operations (Fuel-3.com, nd). Appropriability To achieve appropriability Fuel 3D apply strategies such as facilitate controlled access, and bundling (Davis, 2002). Facilitating controlled access through licence agreements with users allows Fuel3D to provide wide access to their innovation. However, the access conditions are controlled. Users are allowed to install and use the products, but they should not copy the software, rent, lease, and sub-lease, translate or modify the software or documents. Bundling involves providing packages of related product for sale as a set. The scanify scanner going for $1490 comes with three re-usable targets, USB data transfer cable, ac power cable, and Fuel3D studio editing software. Also, they provide free shipping around Europe and USA (Fuel-3.com, nd). References Davis, L is appropriability a “problem” for innovations in digital information goods? Department of Industrial Economics and Strategy, Copenhagen Business School, 2002. Fuel3D, Fuel3D smashes Kickstarter goal; validates vision for affordable 3D scanning, 2013, retrieved 17th April 2016, . Fuel-3d.com nd, About fuel3D, retrieved 18th April, 2016, . Green, A. Factors indicating first-mover advantages and second-mover advantages, kristian stad University College, International Business Program, 2004. Ho, C and Wu W, role of innovativeness of consumer in relationship between perceived attributes of new products and intention to adopt, International Journal of Electronic Business Management, Vol. 9, No. 3, pp. 258-266. 2011. Shahmarichatghieh, M, Tolonen, A and Haapasalo, H. product life cycle, technology life cycle and market life cycle; similarities, differences and applications, Management Knowledge and learning, Joint International Conference, 2015. Justia Patents, Patents by Assignee Fuel3D Technologies Limited, retrieved 21st April 2016, . Read More