Technology Lifecycle

The Technology Lifecycle refers to the stages a technology goes through from its creation to its decline. It typically includes five phases: development, introduction, growth, maturity, and decline. In the development phase, new ideas are researched and tested. Once launched, the technology enters the introduction phase, where it is first made available. As it gains popularity, it experiences growth, leading to widespread adoption. Eventually, it reaches maturity, with stable usage and competition. Finally, technology may decline as new innovations emerge, leading to decreased interest and usage. Understanding this lifecycle helps businesses manage and adapt to changing technologies effectively.