Technology markets shift. The shift can be incremental, radical, or sometimes disruptive.
Take, for instance, gages used in process automation markets. Gages command about $3.5 billion in global instrument sales, the major portion, over $11 billion now held by transmitters.
The technological shift from a visual indication gage to the first transmitter has been incremental. It has taken over 50 years for transmitters to go from concept to commanding 70% market share. Continue reading “Market Shifts & the Need for Backward Compatible Products”