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Most new technologies follow a similar technology lifecycle. This is not similar to a product life cycle, but applies to an entire technology, or a generation of a technology. Technology adoption is the most common phenomenon driving the evolution of industries along the industry lifecycle.
Technology perception dynamics There is usually technology hype at the introduction of any new technology, but only after some time has passed can it be judged as mere hype or justified true acclaim. Because of the logistic curve nature of technology adoption, it is difficult to see in the early stages whether the hype is excessive. You can almost never believe the hype. The two errors commonly committed in the early stages of a technology's development are: Similarly, in the later stages, the opposite mistakes can be made relating to the possibilities of technology maturity and market saturation. Technology adoption typically occurs in an S curve, as modelled in diffusion of innovations theory. This is because customers respond to new products in different ways. Diffusion of innovations theory, pioneered by Everett Rogers, posits that people have different levels of readiness for adopting new innovations and that the characteristics of a product affect overall adoption. Stages From a layman's perspective, the technology life cycle can be broken down into five distinct stages. ==See also== | ||||||||
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