A technological innovation system refers to a network of agents that interact under an institutional infrastructure for the generation and utilization of technology. It is applicable to the analysis of technology, product or a set of products that are aimed at satisfying a targeted function. Structures in technological innovation system comprises of elements that are static with time. A major focus of this field is the study of all activities that contribute to a system function, with respect to its development, diffusion and usage. Some of the significant system functions are entrepreneurial activities, knowledge development, market formation, resource mobilization, etc. In the age of innovation, new technologies are developed by business firms to improve competitiveness and sustainability. The objective of this book is to give a general view of the different aspects of innovation technology and its applications. It is a compilation of chapters that discuss the most vital aspects and emerging trends in this field. A number of latest researches have been included to keep the readers up-to-date with the global concepts in this area of study.