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Sector evolution under innovation cascade

In: The Revolution in Energy Technology

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Abstract

Chapter 3 presents the concept of innovation cascades, and discusses product life cycle (PLC) and industry life cycle (ILC) theories about the evolution of innovation. In the light of the sectoral innovation systems perspective, and taking into account that high-tech sectors are variation intensive, some of them undergo innovation cascades. Over time innovation increases, new products appear, and products become more complex as a result of the addition of new functionalities, different applications to new market segments, and the arrival of different types of innovators. Under these cascades, innovation does not decline over time. We contend that the cascade theoretical model can explain evolutionary patterns in some high-tech sectors, including biotechnology, ICT and nanotechnology.

Suggested Citation

  • ., 2018. "Sector evolution under innovation cascade," Chapters, in: The Revolution in Energy Technology, chapter 3, pages 24-57, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:18139_3
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    Cited by:

    1. Sahi, Gurjeet Kaur & Devi, Rita & Gupta, Mahesh C. & Cheng, T.C.E., 2022. "Assessing co-creation based competitive advantage through consumers’ need for differentiation," Journal of Retailing and Consumer Services, Elsevier, vol. 66(C).

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