A Segway scooter is a two-wheeled mobility device introduced by Segway inc. for the first time in 2002 for sale to general public. The scooter after few name changes is now called Segway PT by the makers in which PT stands for “Personal Transporter”. This personal transporter is an electrically powered self-balancing mobilizer which uses computer controlled gyroscope technology and fluid based leveling sensors to stabilize itself and react to moving body weight.
Invented by the successful entrepreneur and inventor Dean L. Kamen, the product created a lot of buzz prior to its debut due to Kamen’s reputation but more so cause of the confidential excerpts of a book containing quotes from the famous Tech-geeks like Steve Jobs and John Doerr, praising the product for its technological forwardness and coining it as revolutionary and a game changer in the transportation market. The buzz created such hype that even the popular TV Show South Park picked up the topic and dedicated a whole episode to the talk of the town. Though they did it in the typical South Park fashion and made mimicry out of it, but it brought even more attention to the product.
Prior to its official unveiling Segway PT was being referred to as “Ginger” after film star Ginger Rogers or simply “It”. After the unexpected, hyperbolic and rampant hype and a lot of speculation Segway scooter was finally revealed on the 3rd of December 2001 at the Bryant Park, New York City live on National Television courtesy “Good Morning America” of the ABC Network.
The Segway scooter has evolved a lot since than with many upgrades in both aesthetics and technology. The company has been able to maintain its market leadership in the personal transportation segment despite a regime change in 2009, when the company was sold to British millionaire Jimi Heselden‘s company Hesco Bastion.
They have been able to create three market segments for their product: Individual – Catering to the segment of the market that consist of individuals for personal use, Business – Catering to the segment of market consisting of Companies looking to use the product for their day to day business mobility and individual transport and Patrol – Catering to the segment of market consisting of Governments and Security companies using the product for patrolling and security strolls and checks around distances.
This shows Segway’s commitment to keeping its product meet the ever evolving consumer needs as well as evolving Market needs, as many competitors have emerged in recent times to challenge the company’s dominance.