Technological innovation strategy: how do technology life cycles change by technological area

ABSTRACT

Discussions on the patterns of technological innovation have significant implications in terms of the efficient distribution of national R&D resources and the establishment of corporate managerial strategies. This study is focused on calculating and analysing technology cycle time (TCT) by technological area based on patent data that can be used as easily accessible objective indicators for the purpose of modelling the patterns of technological innovation by period and technological area. The main technological areas handled by the study include medical science, vehicles, metallurgy, and computing. Of the patent data registered with the United States Patent and Trademark Office from 1990 to 2014, International Patent Classification sub-class codes representing each technological area were selected to collect patent data, and to generate TCT statistics every five years. The TCT statistics generated is interpreted as the technological life cycle, to be used in modelling technological innovation patterns individualised by technology and period.

KEYWORDS:

• Technological life cycle
• technology cycle time
• patent citation
• technology commercialisation

Disclosure statement

No potential conflict of interest was reported by the authors.

Notes on contributors

Jeongeun Byun is a researcher at Korea Institute of Science and Technology Information (KISTI). She graduated in Management from the University of Georgia and received her PhD in Science and Technology Management Policy from the University of Science and Technology. Her research interests include technology valuation, management of information and communication technology, and technology innovation. Her research work has been published in journals such as Technological Forecasting and Social Changes, Telematics and Informatics, Multimedia Tools and Applications, and Telecommunications Policy.

Tae-Eung Sung received the PhD degree in Electrical and Computer Engineering from Cornell University, Ithaca, NY, in 2010. Currently, he is a principal researcher in Korea Institute of Science and Technology Information. His research interests are in the areas of technology valuation (models and methodologies), technology innovation and management, and technology commercialisation, as well as the cutting-edge wireless communication technologies (4G/5G).

Hyun-Woo Park is a technology economist at Korea Institute of Science and Technology Information (KISTI). He worked with San Francisco State University as a Visiting Fellow (1996–1997) and University of California, Santa Cruz as a Research Scholar (2008–2009). He received a PhD in International Business (1991) from Hong-Ik University, and a PhD in Science and Technology Studies (2007) from Korea University. He published many articles and books in the research fields including technology valuation, innovation management, technology commercialisation, and scientometrics. He has authored a number of papers on related topics in leading journals such as International Journal of Technology Innovation, Technological Forecasting and Social Change, Scientometrics, and Asian Journal of Technology Innovation.