disruptive innovation and industry transformation

Disruptive innovation refers to the introduction of a new product, service, or business model that significantly alters the existing market by appealing to customers' different needs, preferences, or performance expectations. It often starts by targeting low-end or niche markets before gradually displacing established market leaders. Industry transformation, on the other hand, involves the fundamental reshaping of an entire industry through technological advancements, new business models, or changes in customer behavior. It results in substantial shifts in the competitive landscape, value chains, and overall market dynamics, leading to both opportunities and challenges for existing players and new entrants.

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