Advanced Marine Technology (AMT) developed a new type of binoculars using augmented reality. The binoculars are augmented with a see-through, computer-generated overlay or display of navigation information. The computer-generated display is superimposed on the real world image available to the user. A person looking through these binoculars could be presented with: identifying labels for nearby objects, navigational data and chart information, or recommended direction of travel, all as an overlay on what is seen by the human eye.
Market Adoption Speed
AMT management was presented with the important task of determining the best way to exploit the potential for their AR technology. Management felt there were a number of short and long-term issues to investigate prior to committing additional resources to further development. Key strategic issues included determining both near- and long-term potential applications. And in what order should AMT attempt to penetrate each market? It was also important to understand the adoption characteristics of each market.
This investigation had to identify the market segment with the most near-term interest. However, each segment must be evaluated in terms of their product adoption cycles. AMT wanted to avoid market segments that required significant continuing investment until substantial returns were generated.
An issue related to both speed of adoption and overall potential is that of the relationship certain market segments have with one another. AMT wanted to select markets that produce revenue in the shortest amount of time, and are also linked in a way that allows the company to build upon the successes achieved in each previous segments. Determining the best revenue-producing segments as well as the linkages that exist between segments are both important requirements.
Partnership and Alliance Advantages
Given AMT’s established position in the marine industry, marine applications seemed like a natural first choice. AMT has built a significant level of expertise in the marine industry which was further strengthened by the company’s strategic alliance with Raytheon. These advantages had the potential to accelerate the adoption of augmented reality in the light marine segment.
Unfortunately the marine industry tends to lag behind many other industries in the adoption of new technology. Therefore the marine market was also required to pass the test of overall potential and synergy with other markets and applications.