An exploratory study on the development path of converging technologies using patent analysis: the case of nano biosensors

The recent technological convergence of distinctive technological fields represents a major source of technological innovation. More researchers have conducted ongoing technology convergence analysis to create successful breakthrough technology and solve technical problems. Many studies have uncovered technology convergence by developing convergence indices that measure diversity and the bonding strength of technology using Co-International Patent Classification (Co-IPC) classification and citation patent classification. However, most studies have focused on diversity and the closeness of technologies. This paper provides a microscopic analysis of market influence and bonding between individual technologies. We also uncover the development paths of technology convergence and the individual technology level. A novel patent analysis method is presented to trace the technological and market aspects of the evolution of technology convergence. A convergence index measures the size of technology convergence using Co-IPC, while the market index (MI) measures the global market entrance using the patent family data. The development paths of technology convergence for nano biosensors are analysed along with the individual technology level. Empirical results show a different technological and market development for 21 industrial technology fields of technology convergence for nano biosensors. Development of technology convergence is more sensitive to market factors than to technological ones. The development paths of sub industrial and technological fields are analysed. Technology convergence in machinery or electronics technologies shows a growing trend in MIs over time. Technology convergence in the measurement-machinery sector is expected to have a high future development potential.