Killer Application
What it is:
Killer applications kill the competition and are so novel that they require an entirely new platform to work. They can be incredibly lucrative, especially if patented, though often they spawn knock-offs.
How it works (Example):
Software for 3-D printers is an example of a killer app. The software enables a machine to stream liquid plastic into any shape the user can invent, but it requires a 3-D printer to do so. The 3-D printer can be used at home for personal use, allowing people to create a variety of new and novel products for themselves that previously were only the domain of professional designers, R&D teams and big companies.
Why it Matters:
A killer application is software that induces consumers to buy new hardware.
