What is the Adoption Rate?
The rate of adoption refers to the speed at which new technologies are adopted and used by society. This rate is represented by the number of members of society who begin using new technology during a certain period of time. Comparing adoption rates is useful. The adoption rate of one group is often compared with the rate of another or even the rate of an entire society.
Understanding the Adoption Rate
The diffusion theory includes the adoption rate. This theory aims to explain the spread of new technologies and processes in society and why these are preferred over older methods. This theory often determines the existence of early adapters.
Network Effects have a strong influence on the rate of adoption. As more people adopt certain technologies, they become even more useful. Network effects are said to be a benefit of these technologies. Perhaps the most well-known example is the rapid growth of the Internet. In the years between 1969 and 1994, Internet usage was mainly restricted to the U.S. academic and military communities, and there were few other users. Telnet, a text-based command-line protocol that uses a command-line to access the Internet, was difficult to use and limited adoption.
The rate of adoption of the Internet increased as web browsers made it easier to use. More services were also created. In the 1990s, however, computer equipment cost thousands or even hundreds of dollars and required some technical knowledge to install. In the early 21st Century, there was concern about a digital gap as many poor people lacked internet access. Smartphones brought the hardware cost below $50 and made it easier to access the internet. This resulted in a greater rate of adoption by the poor.
The ease of incorporating innovation into daily life and its benefits are two attributes that influence the adoption rate.It is also affected by the ability of the other members of the society to see who has already adopted the innovation, and the cost associated with trying it. The type of society being introduced to innovation is another major factor. Closed societies and cultures with little communication between adopters, non-adopters, and innovators will be less likely to embrace new technology.