Key Variables of High-Tech Products Influencing High-Tech Industries: A Hybrid Multicriteria Decision-Making Analysis
Vikram Singh, Somesh Kumar Sharma · IEEE Engineering Management Review · 2024
High-tech products (HTPs) are key drivers that help strengthen the economy of any nation. Literature advocates that most of the research focused on the marketing and exports of HTPs. However, little attention has been paid to examining the variables of HTPs that affect their development in international market competitiveness, posing a challenge for high-tech industries (HTIs). In this context, this research is a unique contribution in this domain, which aims to analyze the key variables of HTPs that influence the performance of HTIs. A theoretical framework of 8 key variables and 30 HTP variables has been developed. The fuzzy multicriteria decision-making technique is applied to prioritize, rank, and measure the interrelationships between variables. This application evolved HTP features as the most prioritized and influential key variable, followed by others, all of which are interrelated. In contrast,nearer to technological development, technical convergence trends, closely related to science, quality of design, and object clarity are the top-globally ranked variables for measuring the performance of key HTP variables. These findings provide a roadmap for designers to maintain the feature of HTP, manufacturers in quality management, marker analysts to select the potential market, and management to make the best decision.