5 Mega Trends That will Shape Product Development in 2017

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In recent times, product development has undergone radical changes due to the influence of new trends in customer preferences, innovation in 3D design technology, sustainability measures and more. These trends will shape the future of product development in the coming decade. Here are five mega trends that are crucial for businesses to succeed and stand out from competition.

3D Printing: 3D design to three-dimensional reality

We are all aware of this technology, and it has been around for decades. 3D printing has now opened up a new world of product development opportunities for both business leaders and emerging startups. With lower costs and quicker turnaround time, 3D printing provides flexibility for product development companies to experiment with their 3D design. 3D printing companies have also gone a step further by building large 3D printers that do not restrict the size of the component produced. To expedite this process, companies need a 3D design platform that comes in-built with technology crafted for 3D printing.

Product development is driven by mass personalization

Product Development Personalized products and communications are highly effective methods to creating unique and memorable customerexperiences. Personalisation has to be led by customers, and today consumers expect to have a say in the product development process. The ever-increasing volume of data available and developments in the interpretation of data on customer preferences has driven personalisation into the mainstream and into the spotlight for 2016. By 2018, Gartner predicts that B2B firms with effective personalisation will outperform their competitors without this capability by 30%. This clearly sets the pace of innovation for the future of 3D design and product development.

Industry 4.0

The 4th Industrial Revolution is about making use of societal trends to alter the way 3D design and product development is performed. In a demand-oriented revolution, every 3D design should be tailored to consumers’ expectations. With production digitization which leads to smart factories, 3D design engineers have more flexibility to oversee machine operations and maintenance remotely. Now, companies can create their own 3D design combination with interchangeable modules to rapidly adapt to the needs of the end consumer. By connecting all the stakeholders on a single platform to share ideas anytime from anywhere, companies can create products that people want, in an efficient way.

Internet of Experiences

We’ve known about the internet of things for a while now, but 2016, has been the crucial period for real advances in this technology. The Internet of Things (IoT) is not just about 3D design technology; it’s also about acquiring a broader sense that encompasses the stakeholders, system and technology. This essentially means that product development companies can now extend their relationships with consumers, acquiring new insights and building business partnerships.

Design for sustainability

Sustainable product development is the consideration of environmental, social, regulatory and economic factors during product development, manufacturing, consumption, and eventual disposal of products. Sustainable new product development plays a critical role in the 3D design innovation and product lifecycle management. It begins with the implementation of sustainability principles and goals in your company’s strategic business objectives. Using a sustainable product development approach contributes positively to customer goodwill which ensures profitability and business growth.

As a product development company it is important to identify and use the best 3D design software to take advantage of these trends that are driving the future.