In a modern world that is churning out technological innovations in sectors that did not even exist 20 years ago, many people will have common conceptions of what constitutes ‘disruptive technology’: the rise of robots, smart cities and self-driving cars. And yet, equally disruptive are the technologies that are developing within sectors that have prospered for centuries.
Since being first released on the consumer market in 2005, the global e-cigarette market has been growing rapidly. In the United States, sales grew at an annual rate of 115 percent in the 2009-12 period. It is estimated that the global market could increase to $10 billion by 2017. Some analysts have gone as far as suggesting that e-cigarettes could be outselling conventional cigarettes within a decade.