No industry is stable over time. Industries will always experience changes as they progress, some with shorter time frames, others with longer time frames, but eventually change will affect every industry. Industry demand is likely to be unstable, with growth or decline cycles influenced by technology innovation, changes in customer needs and ever-changing environments. Inflection points in the industry development cycles - points where industry growth rate changes abruptly - set significant challenges for companies to remain competitive and survive. One example of an inflection point is a disruptive technology change, but there are other, often more frequent inflection points such as rapid onset of demand or irreversible decrease on the demand facilitated by changes in customer needs or regulation, to name a few.
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