Lead Markets: A New Framework for the International Diffusion of Innovation

Abstract

This article attempts to explain why countries lead the international diffusion of specific innovations. It can often be observed that the global diffusion of innovations can be characterised by the competition of several innovation designs, each favoured by a different country, and that finally one becomes the globally dominant design. Lead markets are national or regional markets that are first to adopt a global dominant design of an innovation. It is suggested that the demand side can play a decisive role for the international competitiveness of the companies of a country and not only their technological competencies. This article presents a framework for country-specific factors on the market side that are responsible for the global success of innovations. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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