This research study investigates the factors influencing technology adoption in the software development industry, specifically focusing on developing countries like Nepal. An empirical investigation was carried out for this research. In total, ten participants were interviewed and NVivo was employed as a tool for thematic analysis purposes. The study identifies five significant factors that impact technology adoption in the software development industry: Government and Policies, Resistance to Change, Integration Issues, Technical Complexities, and Time and Cost Overruns. Each factor is thoroughly analyzed to understand its influence and implications on technology adoption. The research findings are supported by empirical evidence and theoretical underpinnings, drawing upon the widely accepted Extended Technology Acceptance Model (TAM2). This theoretical framework provides a solid foundation for comprehending the relationship between technology adoption and the identified factors. The study contributes to the existing knowledge on technology adoption in developing countries and offers valuable insights for policymakers, software development companies, and engineering teams. These findings serve as a guide to navigating the challenges associated with technology adoption in the software development industry.