<p>The assessment of emerging technologies is quite challenging owing to their inherent uncertainty, long development cycles, and the inadequacy of conventional performance indicators. Conventional performance indicators include quantifiable metrics such as publications and patents, which are unable to evaluate the early stage progress of emerging technologies. The present work discusses the challenges in measuring the performance of emerging fields. Alternative approaches, including qualitative evaluations, dynamic frameworks, and interdisciplinary models, are discussed to better track the trajectory of emerging technologies. Moreover, the role of strategic planning and diversified funding is explored, along with risk mitigation strategies, to ensure the successful development of these technologies. The paper discusses examples from various fields, to learn about the evolving nature of emerging technologies, their growth trajectory, and eventual commercialization. It explores a framework to guide researchers, policymakers, and industrialists in effectively assessing the technologies.</p>