Obsolescence Definition

noun
A process or condition of becoming useless or obsolete.
Webster's New World Law

A diminishing of a property’s value or usefulness, especially because of innovations in technology, as distinguished from physical decay. See also depreciation.

Webster's New World Law

(uncountable) The state of being obsolete"”no longer in use; gone into disuse; disused or neglected.

Wiktionary
The process of becoming out of date. It is one of the underlying concepts of depreciation, because obsolescence limits the useful life of an asset.
Webster's New World Finance
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Other Word Forms of Obsolescence

Noun

Singular:
obsolescence
Plural:
obsolescences

Origin of Obsolescence

  • From Latin obsolescens past participle of obsolescere.

    From Wiktionary

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