Success factors for standards during the technology life cycle

Technological developments such as the Internet of Things, and artificial intelligence result in new innovative systems. In these systems, ICT is integrated in products, services and processes. Interconnectivity gets crucial and standards should facilitate this. New standards complement existing ones and these may originate both from the ICT field and from other fields. These fields have different standardization cultures and often, multiple standards are competing. The question is which standard, if any, will achieve market success. We relate the success factors to the different phases of the technology life cycle. We assess the importance of these factors by using the Best Worst Method. In the discussion section, we argue how the importance of certain factors may change and which new factors pop up in an increasingly globalized and digital world. This should provide a basis for future research on market success of standards in this new context.