Final answer:
Disruptive technologies such as iPods, PDAs, and Wi-Fi have led to the creation of new markets by displacing established products and encouraging hypercompetition, which has significantly increased global market competition.
Step-by-step explanation:
The new markets created by iPods, PDAs, and Wi-Fi are a result of disruptive technologies. Such technologies introduce groundbreaking products or services that eventually upset established industry markets by displacing established market-leading firms, products, and alliances. The iPod, for instance, changed the way we consume music, leading to the demise of CD players and transforming the music industry.
The introduction of PDAs (Personal Digital Assistants) marked a shift in how we manage personal information and conduct business communications, while Wi-Fi technology facilitated the rapid spread of internet connectivity in public and private spaces, promoting greater mobility and connectivity.
Disruptive technologies like these often create new business models and can lead to what is referred to as 'hypercompetition', escalating the rate of change within industries. Such advancements in technology, coupled with globalization, have significantly increased market competition as firms can now compete globally, leading to innovative strategies in an effort to stay ahead.