5 product development trends to keep an eye on in 2024

5 product development trends to keep an eye on in 2024

5 product development trends to keep an eye on in 2024

2024 is going quickly! Here's our summary of product trends we expect to see for the rest of the year and here's how you can stay ahead of the curve.

2024 is going quickly! Here's our summary of product trends we expect to see for the rest of the year and here's how you can stay ahead of the curve.

2024 is going quickly! Here's our summary of product trends we expect to see for the rest of the year and here's how you can stay ahead of the curve.

Apr 30, 2024

Apr 30, 2024

Apr 30, 2024

In the ever-evolving landscape of product development, staying ahead of the curve is essential for success. As we roll into Spring and 2024 kicks into second gear, innovative technologies and evolving consumer expectations are shaping the future of product development. In this article, we’ll explore five key trends that are set to redefine the way products are conceptualised, designed, and brought to market in 2024.


1. AI-Powered Product Development

Artificial Intelligence (AI) continues to be a driving force in product development, with 2024 marking a significant leap forward. Machine learning algorithms are now capable of analysing vast amounts of data to identify patterns, preferences, and market trends. This enables product developers to make data-driven decisions, streamline design processes, and even predict consumer needs. AI is not only enhancing efficiency but also fostering creativity, as algorithms can generate design suggestions based on historical data and current market demands.


A great example of this is Patently's Search product, which leverages the power of AI to translate plain text into a patent search in second.


2. Sustainable and Eco-Friendly Innovations


As environmental consciousness grows, consumers are increasingly demanding products that align with sustainable practices. In 2024, product development is embracing eco-friendly materials, energy-efficient manufacturing processes, and circular design principles. From biodegradable packaging to products that can be easily recycled, sustainability is becoming a non-negotiable aspect of successful product development. Companies that prioritise environmental responsibility are not only meeting consumer expectations but also contributing to a more sustainable future.


3. Personalised and Customizable Experiences


Consumer preferences are becoming more diverse, and the demand for personalized products is on the rise. In 2024, product development is focusing on creating customisable experiences that cater to individual needs. Advanced customization tools, driven by AI and user data, allow consumers to tailor products to their unique specifications. From personalized tech gadgets to customizable fashion items, brands are recognizing the value of offering products that resonate with the individual preferences of their customers.


4. Integration of Augmented Reality (AR) and Virtual Reality (VR)


AR and VR technologies are transforming the way consumers interact with products before making a purchase. In 2024, product development is leveraging these immersive technologies to provide virtual try-on experiences, interactive product demonstrations, and enhanced customer engagement. Whether it’s trying on clothes in a virtual fitting room or experiencing a product in a simulated environment, AR and VR are bridging the gap between the digital and physical worlds, offering consumers a more immersive and informed shopping experience.


The patent filing trend across these areas backs up the prediction, with a significant increase starting in 2014 with a plateaux between 2016 and 2020, but a surge of activity over the last two years that only looks set to continue.



5. Collaborative and Agile Development Practices


Agile methodologies have long been embraced in software development, and now they are making their way into physical product development. In 2024, collaborative and agile practices are becoming integral to the development process. Cross-functional teams are working together seamlessly, incorporating rapid prototyping and iterative testing. This agile approach allows for quicker adaptation to changing market conditions, reduced time-to-market, and the ability to respond promptly to consumer feedback, ensuring that products meet evolving expectations.


So, 2024 promises to be an exciting time for product development, marked by innovation, sustainability, personalisation, immersive technologies, and agile methodologies. Embracing these trends will not only position businesses at the forefront of the market, but also enable them to meet the ever-changing demands of consumers. As we move forward, the key to success lies in staying adaptable, leveraging cutting-edge technologies, and prioritizing values that align with the expectations of the modern consumer.


Try Patently for free to conduct your own technology landscaping and stay ahead of the pack.


Does your gut tell you there will be another technology to keep an eye on this year? Let me know, we’d love to investigate with you.

By Andrew Samm, Director


In the ever-evolving landscape of product development, staying ahead of the curve is essential for success. As we roll into Spring and 2024 kicks into second gear, innovative technologies and evolving consumer expectations are shaping the future of product development. In this article, we’ll explore five key trends that are set to redefine the way products are conceptualised, designed, and brought to market in 2024.


1. AI-Powered Product Development

Artificial Intelligence (AI) continues to be a driving force in product development, with 2024 marking a significant leap forward. Machine learning algorithms are now capable of analysing vast amounts of data to identify patterns, preferences, and market trends. This enables product developers to make data-driven decisions, streamline design processes, and even predict consumer needs. AI is not only enhancing efficiency but also fostering creativity, as algorithms can generate design suggestions based on historical data and current market demands.


A great example of this is Patently's Search product, which leverages the power of AI to translate plain text into a patent search in second.


2. Sustainable and Eco-Friendly Innovations


As environmental consciousness grows, consumers are increasingly demanding products that align with sustainable practices. In 2024, product development is embracing eco-friendly materials, energy-efficient manufacturing processes, and circular design principles. From biodegradable packaging to products that can be easily recycled, sustainability is becoming a non-negotiable aspect of successful product development. Companies that prioritise environmental responsibility are not only meeting consumer expectations but also contributing to a more sustainable future.


3. Personalised and Customizable Experiences


Consumer preferences are becoming more diverse, and the demand for personalized products is on the rise. In 2024, product development is focusing on creating customisable experiences that cater to individual needs. Advanced customization tools, driven by AI and user data, allow consumers to tailor products to their unique specifications. From personalized tech gadgets to customizable fashion items, brands are recognizing the value of offering products that resonate with the individual preferences of their customers.


4. Integration of Augmented Reality (AR) and Virtual Reality (VR)


AR and VR technologies are transforming the way consumers interact with products before making a purchase. In 2024, product development is leveraging these immersive technologies to provide virtual try-on experiences, interactive product demonstrations, and enhanced customer engagement. Whether it’s trying on clothes in a virtual fitting room or experiencing a product in a simulated environment, AR and VR are bridging the gap between the digital and physical worlds, offering consumers a more immersive and informed shopping experience.


The patent filing trend across these areas backs up the prediction, with a significant increase starting in 2014 with a plateaux between 2016 and 2020, but a surge of activity over the last two years that only looks set to continue.



5. Collaborative and Agile Development Practices


Agile methodologies have long been embraced in software development, and now they are making their way into physical product development. In 2024, collaborative and agile practices are becoming integral to the development process. Cross-functional teams are working together seamlessly, incorporating rapid prototyping and iterative testing. This agile approach allows for quicker adaptation to changing market conditions, reduced time-to-market, and the ability to respond promptly to consumer feedback, ensuring that products meet evolving expectations.


So, 2024 promises to be an exciting time for product development, marked by innovation, sustainability, personalisation, immersive technologies, and agile methodologies. Embracing these trends will not only position businesses at the forefront of the market, but also enable them to meet the ever-changing demands of consumers. As we move forward, the key to success lies in staying adaptable, leveraging cutting-edge technologies, and prioritizing values that align with the expectations of the modern consumer.


Try Patently for free to conduct your own technology landscaping and stay ahead of the pack.


Does your gut tell you there will be another technology to keep an eye on this year? Let me know, we’d love to investigate with you.

By Andrew Samm, Director


In the ever-evolving landscape of product development, staying ahead of the curve is essential for success. As we roll into Spring and 2024 kicks into second gear, innovative technologies and evolving consumer expectations are shaping the future of product development. In this article, we’ll explore five key trends that are set to redefine the way products are conceptualised, designed, and brought to market in 2024.


1. AI-Powered Product Development

Artificial Intelligence (AI) continues to be a driving force in product development, with 2024 marking a significant leap forward. Machine learning algorithms are now capable of analysing vast amounts of data to identify patterns, preferences, and market trends. This enables product developers to make data-driven decisions, streamline design processes, and even predict consumer needs. AI is not only enhancing efficiency but also fostering creativity, as algorithms can generate design suggestions based on historical data and current market demands.


A great example of this is Patently's Search product, which leverages the power of AI to translate plain text into a patent search in second.


2. Sustainable and Eco-Friendly Innovations


As environmental consciousness grows, consumers are increasingly demanding products that align with sustainable practices. In 2024, product development is embracing eco-friendly materials, energy-efficient manufacturing processes, and circular design principles. From biodegradable packaging to products that can be easily recycled, sustainability is becoming a non-negotiable aspect of successful product development. Companies that prioritise environmental responsibility are not only meeting consumer expectations but also contributing to a more sustainable future.


3. Personalised and Customizable Experiences


Consumer preferences are becoming more diverse, and the demand for personalized products is on the rise. In 2024, product development is focusing on creating customisable experiences that cater to individual needs. Advanced customization tools, driven by AI and user data, allow consumers to tailor products to their unique specifications. From personalized tech gadgets to customizable fashion items, brands are recognizing the value of offering products that resonate with the individual preferences of their customers.


4. Integration of Augmented Reality (AR) and Virtual Reality (VR)


AR and VR technologies are transforming the way consumers interact with products before making a purchase. In 2024, product development is leveraging these immersive technologies to provide virtual try-on experiences, interactive product demonstrations, and enhanced customer engagement. Whether it’s trying on clothes in a virtual fitting room or experiencing a product in a simulated environment, AR and VR are bridging the gap between the digital and physical worlds, offering consumers a more immersive and informed shopping experience.


The patent filing trend across these areas backs up the prediction, with a significant increase starting in 2014 with a plateaux between 2016 and 2020, but a surge of activity over the last two years that only looks set to continue.



5. Collaborative and Agile Development Practices


Agile methodologies have long been embraced in software development, and now they are making their way into physical product development. In 2024, collaborative and agile practices are becoming integral to the development process. Cross-functional teams are working together seamlessly, incorporating rapid prototyping and iterative testing. This agile approach allows for quicker adaptation to changing market conditions, reduced time-to-market, and the ability to respond promptly to consumer feedback, ensuring that products meet evolving expectations.


So, 2024 promises to be an exciting time for product development, marked by innovation, sustainability, personalisation, immersive technologies, and agile methodologies. Embracing these trends will not only position businesses at the forefront of the market, but also enable them to meet the ever-changing demands of consumers. As we move forward, the key to success lies in staying adaptable, leveraging cutting-edge technologies, and prioritizing values that align with the expectations of the modern consumer.


Try Patently for free to conduct your own technology landscaping and stay ahead of the pack.


Does your gut tell you there will be another technology to keep an eye on this year? Let me know, we’d love to investigate with you.

By Andrew Samm, Director