Yes, practical application of new technologies is the major deciding factor in innovation, because innovation is not useful unless it is something that people need. Most people invent because they want to make money. With marketability being the deciding factor, practical application is key in order to attract an audience.
Practical applications are integrated in a company or individual who progresses in developing a new technological feature. They go together to compliment each other when you talk about updating and innovating a new project. This concept regarding applications will only increase in the coming years to become a huge factor in technology.
Of course practical application of technology is the major deciding factor. This is a money-driven society, so the things that make it either have to generate income or be bought at large by the public and used regularly. If no one is going to use a technology on a daily basis, it doesn't last.
Practical application is the main deciding factor in new technologies. Most technologies revolve around improving or adding upon another technology that is lacking practicality. For instance, cell phones have come a long way and are still in the innovation process. We are building better and new things every day to simplify our lives and make living easier or more entertaining.
I believe practical application of new technologies is the major deciding factor in innovation. I believe practical application is important because new technologies are useless if they can not be used. Furthermore one could argue that something isn't really innovative if there isn't a practical application for the new technology.