CPI recognises the importance of innovating novel and high-value products for sustained business growth. The democratisation of consumer products has been an underlying driving force for fuelling and shaping the development of the global economy. Consumers are increasingly demanding self-determined lifestyles. Personalised products that enhance quality of life are rapidly growing in popularity- offering better experience, connectivity, expression and appeal. Technologies emerging from the intersection between micro/nano-structured materials, ICT and biotechnology present exciting opportunities to design and innovate novel consumer products and services.
New Sources of Profitable Growth
Companies are always looking for new sources of profitable growth. This often requires the innovation of new products that fit better into the lives of individuals, for example, re-configurable and customisable items that give people more free time.
As consumers seek to enhance their experience and quality of life, opportunities for firms to enhance their profits arise through the innovation of packages of interrelated customisable products, services and information. This, in turn, creates opportunities for existing service companies to build on their inherited product lines, brands and capabilities and for innovative suppliers and manufacturers to exploit emerging technologies. These firms will need access to new facilities, technologies and know-how created either in-house or sourced through collaboration with partners.
Potential applications include:
- Camera technologies
- Novel aftersales service
- Smart clothes and wearables
- Personal area networks
Cameras for use in home security using biometric technologies, ultra thin cameras embedded in smart eye-wear providing zoom, night vision and distance information
Novel Aftersales Service
Consumer products with embedded radio-frequency identification tags and/or smart devices that offer consumers a personalised aftersales service: fridges that order food from a database of your preferences, everyday home appliances that can monitor health such as specific cancers and illnesses, or even a personalised electronic newspaper that can be rolled up and tucked away
Smart Clothes and Wearables
Intelligence built into clothes with sensors, plastic electronics and flexible displays. These could be stylish fashion garments, clothes with embedded devices for monitoring health, or sportswear for outdoor activities such as mountaineering, diving and skiing
Personal Area Networks
Smart personal entertainment; adaptive surroundings that respond to the individual; communication devices routing information and content between users securely, or performing remote actions and tasks
This information has been sourced, reviewed and adapted from materials provided by CPI.
For more information on this source, please visit CPI.