Commercialization in the context of "New product development"

Technological change or technological development is the overall process of invention, innovation and diffusion of technology or processes. In essence, technological change includes the invention of technologies (including processes) and their commercialization or release as open source via research and development (producing emerging technologies), the continual improvement of technologies (in which they often become less expensive), and the diffusion of technologies throughout industry or society (which sometimes involves disruption and convergence). In short, technological change is based on both better and more technology.

Electrical engineering is an engineering discipline concerned with the study, design, and application of equipment, devices, and systems that use electricity, electronics, and electromagnetism. It emerged as an identifiable occupation in the latter half of the 19th century after the commercialization of the electric telegraph, the telephone, and electrical power generation, distribution, and use.

Electrical engineering is divided into a wide range of different fields, including computer engineering, systems engineering, power engineering, telecommunications, radio-frequency engineering, signal processing, instrumentation, control engineering, photovoltaic cells, electronics, and optics and photonics. Many of these disciplines overlap with other engineering branches, spanning a huge number of specializations including hardware engineering, power electronics, electromagnetics and waves, microwave engineering, nanotechnology, electrochemistry, renewable energies, mechatronics/control, and electrical materials science. Electrical engineers also study machine learning and computer science techniques due to significant overlap.

Consumerization is the reorientation of product and service designs to focus on (and market to) the end user as an individual consumer, in contrast with an earlier era of only organization-oriented offerings (designed solely for business-to-business or business-to-government sales). Technologies whose first commercialization was at the inter-organization level thus have potential for later consumerization. The emergence of the individual consumer as the primary driver of product and service design is most commonly associated with the IT industry, as large business and government organizations dominated the early decades of computer usage and development. Thus the microcomputer revolution, in which electronic computing moved from exclusively enterprise and government use to include personal computing, is a cardinal example of consumerization. But many technology-based products, such as calculators and mobile phones, have also had their origins in business markets, and only over time did they become dominated by high-volume consumer usage, as these products commoditized and prices fell. An example of enterprise software that became consumer software is optical character recognition software, which originated with banks and postal systems (to automate cheque clearing and mail sorting) but eventually became personal productivity software.

In a different sense, consumerization of IT is the proliferation of personally owned IT at the workplace (in addition to, or even instead of, company-owned IT), which originates in the consumer market, to be used for professional purposes. This bring your own device trend has significantly changed corporate IT policies, as employees now often use their own laptops, netbooks, tablets, and smartphones on the hardware side, and social media, web conferencing, cloud storage, and software as a service on the software side.