Introduction
A rate of adoption is the speed at which new technology is acquired and used by the public. It is represented by the number of people who start using new technology in a particular period.
Understanding Rate of Adoption
The rate of adoption helps to decide when and how the early adopters exist. The most important factor that influences the rate of adoption is the type of society where innovation is being introduced. It is a relative measure, meaning that the rate of one group is compared to the adoption of another, often of the entire society.
Adoption rate is a part of the diffusion of innovations theory. It explains how the use of new technologies, innovations spread in society and why they are adopted over older methods. While the pricing of new technology can be a factor in the rate of adoption, the features offered with innovation can affect the overall demand for the new product or service. However, not every innovation enjoys a high rate of adoption.
