ECONOMIC ASSESSMENT OF THE IMPACT OF DEEP TECH ON THE TRANSFORMATION OF INDUSTRY MARKETS

Abstract

The article provides an economic assessment of the impact of deep technologies (deep tech) on the transformation of industry markets in the context of contemporary global technological change. Theoretical approaches to defining the essence of deep tech as the fourth wave of innovation are systematized, emphasizing its high science intensity, long commercialization cycle, and significant potential to create new markets. The study substantiates the distinction between deep tech and traditional digital innovations, which lies in interdisciplinary technological convergence, high entry barriers, and a focus on fundamental scientific research. A systematic approach to the economic evaluation of deep tech impact is proposed, based on a four-dimensional system of indicators: market scale, investment dynamics, sectoral relevance of technologies, and intensity of structural changes. It is demonstrated that the application of this framework enables a comprehensive assessment of both quantitative development parameters of the sector and qualitative transformations in industry market functioning. Based on the analysis of empirical data for 2020–2025, a stable upward trend in the global deep tech market is identified, along with uneven investment activity driven by macroeconomic conditions. It is shown that despite a temporary decline in venture capital financing, the sector maintains high investment attractiveness and demonstrates recovery in 2024–2025. The key role of artificial intelligence as a cross-cutting technology is highlighted, alongside the sector-specific specialization of other deep tech domains. The study identifies the main mechanisms through which deep tech influences industry market transformation, including the creation of new market segments, reconfiguration of value chains, changes in entry barriers, and redistribution of market shares through increased mergers and acquisitions activity. These processes are shown to reshape competitive structures and generate new patterns of firm behavior. Special attention is given to the development of the deep tech ecosystem in Ukraine under conditions of war and post-war recovery. Key high-potential areas, such as defense tech, artificial intelligence, and cybersecurity, are identified, along with structural constraints related to the underdevelopment of innovation infrastructure and venture financing. The findings can be applied in shaping state innovation policy, developing industry strategies, and improving methodological approaches to assessing technological transformations of the economy.