The technology adoption lifecycle is significant for innovations as it illustrates how new technologies are adopted over time by different groups, including innovators, early adopters, early majority, late majority, and laggards. Understanding this lifecycle helps organizations tailor their marketing strategies, address customer concerns at each stage, and identify potential barriers to adoption. It also assists in forecasting technology trends and can guide product development to align with user readiness. Ultimately, it is crucial for managing the successful launch and ongoing acceptance of new innovations in the market.