Rate Of Adoption
Definition of 'Rate Of Adoption'
The number of members of a society who start using a new technology or innovation during a specific period of time. The rate of adoption is a relative measure, meaning that the rate of one group is compared to the adoption of another, often of the entire society.
Attributes of an innovation that affect the rate of adoption include the advantage created by adopting the innovation, the ease at which the innovation can be adopted into daily life, the ability of other members of society to see those who have already adopted the innovation and the expense associated with trying the innovation.
Investopedia explains 'Rate Of Adoption'
The adoption rate is part of the diffusion of innovations theory, which seeks to explain how the use of new technologies, processes and innovations spreads through a society, and why they are adopted over old methods.
One major factor that influences the rate of adoption is the type of society that is being introduced to an innovation, as closed societies and societies without clear communication between adopters and non-adopters are less likely to take on a new technology.