By Edmund L. Andrews
When a new consumer technology makes its debut, whether it’s a smartphone or an electric car, its adoption rate typically follows a predictable path. The first buyers come from a narrow slice of high-income users or tech enthusiasts who are willing to pay high prices. Over time, as prices fall and economies of scale kick in, sales climb sharply and the technologies become mass-market products. Eventually, the market becomes saturated, and the number of users reaches a plateau.
