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The phrase "technology is developing" is grammatically correct and can be used in written English.
It is typically used to describe the continuous progression and advancement of technology. Examples: - "Technology is developing at an unprecedented rate, making our lives easier and more connected than ever before." - "The key to staying competitive in today's market is to stay on top of the constantly developing technology in your industry." - "As technology is developing, it is important for governments to establish regulations to ensure ethical and responsible use of new advancements."
Exact(49)
With the rapid development of global economy, refining technology is developing towards the direction of heavy oil's conversion to light products, clean gasoline production and maximizing low carbon olefin.
The technology is developing rapidly.
"But this technology is developing very quickly.
"The technology is developing very rapidly".
Certainly with regard to sheer computing power, the technology is developing fast.
But the technology is developing faster than the rules of etiquette.
Similar(11)
Until a workable missile interceptor technology is developed, no effective missile shield can be built.
The technology is developed, but the main inhibitors are money and politics.
"Where the technology is developed has little to do with where you actually put the plant".
"But we remain utterly flexible about the future strategy if new technology is developed".
But the truth is that this is one way technology is developed and evolves.
More suggestions(15)
project is developing
expertise is developing
technology is preparing
skill is developing
tech is developing
technology is providing
application is developing
science is developing
know how is developing
sciences is developing
technology is design
it is developing
technology is designed
technology is prepared
technologies is developing
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com