The increasing digitalization of our daily lives has had a far more profound impact than most of us would care to imagine. And the thing about technology is that it hasn’t simply given us advanced smartphones, tablets, and apps to help us shop online, send money online, and so much more. No, sir; today, technology has affected us as much in aspects that we don’t usually see. Perhaps the best demonstration of that assertion is seen in the context of product development. In addition to digitalization at breakneck speed, there’s another factor that has virtually transformed how we go about product development today: Industry X.0. Together, these two factors have ensured accelerated processes, new-found levels of innovation, and so much more when it comes to digital product development.
Now that the fast-paced development of technology so profoundly impacts it, it only makes sense for us to take a closer look at the latest trends and developments to stay at the top of our game. While this is true in any context, the ramifications are understandably more consequential about product development. So, to help you stay ahead of the curve too, we have put together a quick list of some of the most important trends in the world of product development and product engineering solutions. Here goes.
1. Offshoring: Gone are the days when companies elected to run the entire process onshore, starting from brainstorming to production. Now more and more companies are selecting to execute the project offshore since it takes a considerable load off the company’s in-house team’s shoulders, if at all. It also helps cut down costs significantly, thus further driving up the popularity of offshoring in the product development market.
2. Data-driven product development: It is for the world to see that data is critical to, well, everything that we do today, including modern-day product development, where analytics are helping companies explore product development much more extensively than ever before. Furthermore, data science is also helping enhance the efficacy of the whole product development process. This has given countless companies and businesses a significant advantage over their peers and also enabled highly tailored product development processes.
3. Hardware to software: Yet another up-and-coming trend in the world of product development is the simultaneous development of both software and hardware. As products continue to become increasingly intricate and connected, companies must now factor in the hardware development and the software aspect of the physical product.
4. Agile hardware development: Much like agile software development, we now have agile hardware development involving teams working in tandem to address unresolved queries and help the client develop trust. And remember, for it to be effective, all teams across the board, starting from the business strategy team to the service designer, must collaborate.
Suffice it to say that when it comes to trends and the latest developments in product development and product engineering solutions, 2021 is already turning out to be quite an exciting year. Be it fused teams or seamless client engagement — there is much to learn from 2021. If you want to ensure your product development endeavors’ success, keeping a close eye on these trends would be a wise idea.
