Without a fantastic product, your business will never reach its true potential. Creating a great product relies on an effective product development process. As the markets and technologies change, so do product development processes. To stay up to speed let’s examine some of the key product development trends for 2022.
1 . Use of 3D printing
3D printing, also referred to as additive manufacturing, means using digital files to create three-dimensional objects. These objects are made by applying various material layers. With the help of 3D printing, you can create complex shapes, without using so much material.
According to Statista, the 3D printing sector is worth approximately 12.6 billion and is predicted to grow by 17 percent in the next two years, (Statista 2021). There are many different industries and applications that rely on 3D printing. A few examples include furniture products, dental products, manufacturing tools, prosthetics, and architectural models.
2. Focus on data
With insights and data, companies can assess customer needs, and determine how to evolve their products. With the right data, businesses can learn how to offer extra value to their customers.
To improve your product development process it’s helpful to focus on machine learning and real-time data. Businesses should include technologies like predictive analytics and AI. Collecting valuable data helps brands to deliver better customer experiences.
3. Sustainability focus
Brands across all sectors need to think about sustainability when they are developing their products. Consumers are prioritizing brands that use earth-kind practices, materials, and policies. Running an eco-friendly business should help you to improve your CSR strategies, and grow your customer base.
When you’re thinking about sustainability you should also consider the suppliers you work with and their own sustainability practices. If your company produces outdoor wear or camping supplies, check out Rockywoods for a range of top-quality eco-friendly materials.
4. More companies are outsourcing
In 2022 we’ll see more and more companies outsourcing their product development processes. Businesses have the option to outsource various areas, from UX design to software development. There are lots of different benefits of outsourcing your product development stages:
- Businesses have the opportunity to work with a range of professionals who can bring expert knowledge to the development process.
- Outsourcing certain elements of your product development may help you to speed up the overall process.
- Outsourcing can help businesses to save money.
5. Agile hardware development
According to Accenture, many companies are focusing on agile hardware development processes. This means operating in parallel streams to identify unknowns, and make sure clients are happy and with the given solutions, (Accenture, 2021).
Working in this way means integrating strategy principles, design principles, and engineering processes.
Staying in the know about product development trends will give you lots of great ideas, to grow your company and drive success. Obtaining plenty of customer feedback will help you to identify your weaknesses, allowing you to make ongoing improvements.