What it is:
Killer applicationsthe 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 streamplastic 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.