In the era of big data-driven digital economies, technology commercialization capability has become the lifeblood of high-tech enterprises to shape competitive advantage and achieve multiplier growth, while the related research is still limited. Drawing on the dynamic capability theory, this study asserts that external user engagement provides an imperative way to enhance technology commercialization capability. Although the highly complicated external environment may weaken this link, high-tech enterprises’ own big data analytics capability contributes to effectively coping with the unpredictable changing environment, thereby amplifying the brighter side of user engagement. The moderated moderation model and hypotheses were supported by the unique surveys of 216 high-tech enterprises. Further, the findings broaden the vision of related research fields, and provide meaningful practical guidance for strategic decision-making and dynamic capability constructing of high-tech enterprises in the new era.