Exponential growth rate refers to the rate at which a quantity increases over time when it experiences exponential growth. In exponential growth, the quantity grows at a constant percentage rate, resulting in a pattern where the growth becomes increasingly rapid over time.

Exponential growth is commonly used to describe situations where a population, investment, or any other measurable quantity grows at a compounding rate. It is characterized by a constant relative growth rate, meaning the growth is proportional to the current value. This leads to a rapid increase in the quantity over time.

Exponential growth can be observed in various fields such as:

1. Population Growth: Exponential growth is often used to model population growth in biology and demographics. In the absence of limiting factors, populations can experience exponential growth, where the number of individuals increases at an accelerating rate.

2. Financial Investments: Exponential growth is relevant in financial investments, particularly when compounding returns are involved. For example, compound interest allows investments to grow exponentially over time, as the interest earned is added to the principal, resulting in a larger base for subsequent interest calculations.

3. Technological Advancements: In the field of technology, exponential growth is frequently used to describe the rate at which computing power, memory capacity, or other technological parameters improve over time. Moore's Law, which states that the number of transistors in a microchip doubles approximately every two years, is an example of exponential growth in technology.

4. Viral Spread: Exponential growth is also applicable in the context of viral spread. In epidemiology, the spread of infectious diseases can exhibit exponential growth when each infected individual transmits the disease to multiple others, leading to a rapid increase in the number of cases.