The effects of technology convergence on markets

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Southern New Hampshire University
Technology Convergence is more than a buzz word. Technology Convergence is the combining of two or more different technologies or services to create a new product offering that can disrupt established markets or create new markets when it successfully occurs. A classical example of technology convergence is the automobile, which was created by convergence of a horse carriage with the internal combustion/steam engine to create the horseless carriage and displaced more than the horseless carriage. The paper is a descriptive study that covers the technology convergence in many market segments including effect in current convergence in Digital Photography and Portable Music Players. The paper also describes examples Medicine, Sports and Commercial segments. It concludes with the observation that it is critically important for firms' future existence to focus some efforts on technology convergence.
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