the state, process, or condition of being or becoming obsolete.

1820–30; obsolesc(ent) + -ence

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World English Dictionary
obsolescent (ˌɒbsəˈlɛsənt)
becoming obsolete or out of date
[C18: from Latin obsolescere; see obsolete]

Collins English Dictionary - Complete & Unabridged 10th Edition
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Word Origin & History

1828; see obsolescent.
Online Etymology Dictionary, © 2010 Douglas Harper
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American Heritage
Cultural Dictionary
obsolescence [(ob-suh-les-uhns)]

A decline in the value of equipment or of a product brought about by an introduction of new technology or by changes in demand. (See planned obsolescence.)

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Example sentences
If innovation threatens companies with obsolescence and extinction, they cannot
  afford to leave it to chance.
But as new sea routes opened and faster ships were built, land caravans slipped
  into obsolescence.
Perhaps all intelligent life has a built-in obsolescence.
The company's road map of planned obsolescence chips continues unabated.
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