TECH LIFE CYCLE

TECHNOLOGY LIFE CYCLE: It denotes a period of time during which a particular technology after the has been introduced becomes obsolete or is overtaken by an new technology and hence its utility or returns start declining.
There are four stages of technology life cycle.

1. INNOVATION STATGE: This stage represents the birth of a new product, material or process resulting from R&D activities. In R&D laboratories, new ideas are generated by ‘need pull’ and ‘knowledge push’ factors. Depending upon the resource allocation and also the change element, the time taken in the innovation stage as well as in the subsequent stages varies widely.

2. SYNDICATION STAGE: This stage represents the demonstration (pilot production) and commercialization of a new technology (product, material or process) with potential for immediate Utilization. Many innovations are shelved in R&D laboratories. Only a very small percentage of these are commercialized. Commercialization of research outcomes depends on technical as well as non-technical factors.

3. DIFFUSION STAGE: This represents the market penetration of a new technology through acceptance of the innovation by potential users of the technology. But supply and demand side factors jointly influence the rate of diffusion.

4. SUBSTIUTION STAGE: This stage represents the decline in the use and eventual extension of a technology due to replacement by another technology. Many technical and non-technical factors influence the r rate of substitution. The time taken in the substitution stage depends on the market dynamics.