Fictional technology is technology that does not exist. It may be an idea or design that has not yet been developed, or it may be a fictional device used in a novel.
Technical innovations which represent progressive developments within a field for competitive advantage.
Seeks to identify if a prospective technology can be designed in detail, and simulated, even if it cannot be built yet - this is often a prerequisite to venture capital funding, or investigation in weapons research.
Often emphasizes a speculative potential of a specific technology in order to stimulate investment in it, or a counter-technology. This is a common motivation in any society dominated by a military-industrial complex.
Emphasizes some amazing potential of some technology that is "under development" (usually without any specific timelines) by a company that is seeking simply to present itself as being competent with technology.
In science fiction
Many works of science fiction are centered around the use of fictional future innovations and technologies and their potential uses. This can sometimes result in inventors using these fictional technologies as inspiration for real-life devices and other emerging technologies.
Fantasy genres like steampunk and dieselpunk explore the consequences of more advanced technology being developed earlier in history, while not necessarily entering into the realm of science fiction. Magic powered technology, colloquially known as "magitech", is also common in fantasy media, where it can be used as a substitute for modern technology while still giving the setting a fantasy atmosphere. Well-known examples are human-created golems and artificially levitating airships.