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Automobile Industry - As the level of pollution goes up everywhere, environment friendly two- and four-wheelers will be in demand. Though they already exist but the level of sophistication will be different and will have high speed of 300 km/hr and 0-60 km/hr in 3 seconds!

Consumer Durables - We might be able to wash clothes and watch television on the same washing machine. Automatic cleaning devices may replace the traditional maids. And finally, the mobile phone will become the most important and potent gadget in the future. Pay any bill, control any device and, of course, communicate!

Agriculture Sector - This sector will see major boom in technology related products. Every activity will be automated. For example, tractors will be remote controlled and the farmers can sit under the tree and move the joystick. Of course, they'll monitor the progress via computer screen.

Anonymous - While women can now enjoy the female version of condoms, eventually we'll have a common contraceptive which will cater to either of the sexes. More and more companies will steer towards the rural areas as saturation reaches zenith in urban areas. More innovative products like automatic milking machine, cheap water purifiers, roof coverings, electricity and a lot more products will flood the rural market.

Final Word

Product Innovation is often associated with technology. Perhaps we look at the following examples to assess the contribution of technology to innovation.

Let's start with tooth-brushes and soaps. It did not need any programming or hardware wizardry to come up with the plastic caps on tooth-brushes and the mesh that came fitted with the Rin-bar. They were the result of plain common sense and value innovation. Not only did the cap added value to the tooth brush but it also brought out the fundamental idea that bristles better be kept covered. Rin's innovation was again beautifully simple. According to the usage pattern, it was observed that the bar melted faster when kept aside while and after wash. Therefore, the mesh was logical complement. Even the liquid form of soaps can be considered as a worthwhile product innovation.

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* Contributed by: -
Prof. A. K. Mitra is Faculty at ICFAI Business School, Gurgaon, and also serving as Associate Dean & Coordinator, Strategic Management & Chairman of Information Resource at the institute.
Saikat Dey is currently pursuing MBA from ICFAI Business School, Gurgaon.