The term disruptive innovation refers to a process by which a smaller company, or new technology, disrupts an existing market by offering simpler, more affordable alternatives to established products. This type of innovation often starts at the lower end of the market and gradually improves to go after larger segments over time. Disruptive innovation can change industry dynamics, forcing established companies to adapt or become obsolete. Examples include the rise of smartphones disrupting traditional mobile phones and streaming services overtaking conventional television.