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For over fifty years, researchers have used the Technology Adoption Life Cycle model to explain the adoption of new products and technologies. The process of adoption is illustrated by a classic bell curve, divided into four consecutive stages. Each stage is defined by the customers that adopt the technology in the respective stage: early adopter, early majority, late majority and laggard.

Geoffrey Moore, in his book Crossing the Chasm, was the first to identify the chasm between the early adopters and the early majority customers when dealing with discontinuous or disruptive innovations.

The early market is characterized by visionary customers who have a passion for introducing new technologies to seek competitive advantage. These visionaries are willing to accept the risks involved with new technologies and are often willing to devote considerable resources to working with the early product. These early adopters have a clear understanding of the problem that they intend to solve with the new technology and they need little help from vendors in developing the ROI.

In contrast, the early majority customers, or pragmatists, are more risk adverse. They want to be early into the market, but only after the technology has been proven by others. They need to see a clear ROI, and will look to their industry peers, who have experience with the technology for validation. They are more demanding that all components be completed and fully integrated, so as to minimize their own resource investment in implementing the new technology.

So, why is there a chasm? In short, the vendor has not yet created the conditions necessary for adoption by the early majority customers - who remain unconvinced. On the other hand, many of the visionaries have purchased, and there are not enough remaining visionaries to sustain market growth.