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Why DigiLens's Business Model is so successful?

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DigiLens’s Company Overview


DigiLens Inc. is a leading innovator in holographic waveguide technology and display solutions based in Sunnyvale, California. The company designs and manufactures high-performance, transparent waveguide displays for augmented reality (AR) applications. Its technology offers a unique combination of high resolution, wide field of view, and compact size, making it ideal for a variety of applications, including automotive HUDs (Heads-Up Displays), AR glasses, motorcycle helmets, and aviation devices. DigiLens’ mission is to revolutionize the way people interact with information and each other by delivering high-quality, scalable, and affordable holographic waveguide displays. DigiLens's business model revolves around developing proprietary waveguide technology and licensing it to manufacturers. The company partners with various organizations across different industries, such as automotive, aviation, and consumer electronics, to integrate its technology into their products. DigiLens also offers design and manufacturing services to its partners, helping them create custom waveguide displays for their specific applications. This collaborative approach allows DigiLens to continuously innovate and expand its technology portfolio while meeting the diverse needs of its partners. The revenue model of DigiLens is primarily based on licensing its patented waveguide technology to manufacturers. The company earns revenue from the license fees paid by its partners for using its technology. Additionally, DigiLens generates income from the design and manufacturing services it provides to its partners. The company also participates in collaborative research and development projects, which can lead to additional revenue sources. The scalability of DigiLens' technology and its wide range of applications provide the company with multiple streams of revenue, ensuring its financial sustainability.

https://www.digilens.com/

Country: California

Foundations date: 2003

Type: Private

Sector: Technology

Categories: Aerospace


DigiLens’s Customer Needs


Social impact:

Life changing:

Emotional: design/aesthetics, fun/entertainment, provides access

Functional: integrates, connects, informs, quality


DigiLens’s Related Competitors



DigiLens’s Business Operations


Augmenting products to generate data:

Due to advancements in sensors, wireless communications, and big data, it is now possible to collect and analyze massive quantities of data in a wide range of settings, from wind turbines to kitchen appliances to intelligent scalpels. These data may be utilized to improve asset design, operation, maintenance, and repair or improve how an activity is carried out. Such skills, in turn, may serve as the foundation for new services or business models.

Digital transformation:

Digitalization is the systematic and accelerated transformation of company operations, processes, skills, and models to fully exploit the changes and possibilities brought about by digital technology and its effect on society. Digital transformation is a journey with many interconnected intermediate objectives, with the ultimate aim of continuous enhancement of processes, divisions, and the business ecosystem in a hyperconnected age. Therefore, establishing the appropriate bridges for the trip is critical to success.

Corporate innovation:

Innovation is the outcome of collaborative creativity in turning an idea into a feasible concept, accompanied by a collaborative effort to bring that concept to life as a product, service, or process improvement. The digital era has created an environment conducive to business model innovation since technology has transformed how businesses operate and provide services to consumers.

Codifying a distinctive service capability:

Since their inception, information technology systems have aided in automating corporate operations, increasing productivity, and maximizing efficiency. Now, businesses can take their perfected processes, standardize them, and sell them to other parties. In today's corporate environment, innovation is critical for survival.

Data as a Service (DaaS):

Data as a Service (DaaS) is a relative of Software as a Service in computing (SaaS). As with other members of the as a service (aaS) family, DaaS is based on the idea that the product (in this instance, data) may be delivered to the user on-demand independent of the provider's geographic or organizational isolation from the customer. Additionally, with the advent[when?] of service-oriented architecture (SOA), the platform on which the data sits has become unimportant. This progression paved the way for the relatively recent new idea of DaaS to arise.

Licensing:

A formal agreement in which the owner of the copyright, know-how, patent, service mark, trademark, or other intellectual property grants a licensee the right to use, manufacture, and sell copies of the original. These agreements often restrict the licensee's scope or area of operation, define whether the license is exclusive or non-exclusive, and stipulate whether the licensee will pay royalties or another kind of compensation in return. While licensing agreements are often used to commercialize the technology, franchisees also utilize them to encourage the sale of products and services.

Skunkworks project:

A skunkworks project is one that is created by a small, loosely organized group of individuals who study and develop a project with the primary goal of radical innovation. The terminology arose during World War II with Lockheed's Skunk Works project. However, since its inception with Skunk Works, the phrase has been used to refer to comparable high-priority research and development initiatives at other big companies that include a small team operating outside of their regular working environment and free of managerial restrictions. Typically, the phrase alludes to semi-secretive technological initiatives, such as Google X Lab.

Technology trends:

New technologies that are now being created or produced in the next five to ten years will significantly change the economic and social landscape. These include but are not limited to information technology, wireless data transmission, human-machine connection, on-demand printing, biotechnology, and sophisticated robotics.

Product innovation:

Product innovation is the process of developing and introducing a new or better version of an existing product or service. This is a broader definition of innovation than the generally recognized definition, which includes creating new goods that are considered innovative in this context. For example, Apple launched a succession of successful new products and services in 2001?the iPod, the iTunes online music service, and the iPhone?which catapulted the firm to the top of its industry.

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