Disruptive Technology
Disruptive technology refers to innovations that significantly alter or replace existing products, services, or industries. These technologies often start at the lower end of the market, initially appealing to a niche audience before gaining traction and eventually displacing established competitors. Examples include smartphones, which transformed communication and computing, and streaming services, which disrupted traditional television and film distribution.
Such technologies can create new markets and value networks, leading to changes in consumer behavior and business practices. They often challenge established companies to adapt or risk obsolescence. The rise of electric vehicles is another example, reshaping the automotive industry and promoting sustainability.