What Is Product Development Life Cycle? 10+ Real-World Examples
Imagine this: You’re running a successful software company, and for over three years, your product has been a market leader, bringing in steady revenue and a loyal customer base.
Then, out of nowhere, a competitor launches a new, sleeker, more advanced product—and suddenly, your once-dominant offering starts to look outdated.
No matter how popular or profitable a product is, stagnation is not an option. In today’s fast-moving world, innovation is survival. Global competition, evolving consumer behavior, and rapid technological advancements mean that companies must constantly refine, reinvent, and reimagine their products to stay ahead.
To help you navigate this challenge, we’ll break down the Product Development Life Cycle and explore 10+ powerful real-world examples of companies that mastered it—so you can too!
1. What is product development life cycle in software?
The Product Development Life Cycle (PDLC) in software refers to the entire journey of a software product, from its initial concept to its eventual phase-out. It encompasses every stage of development, market adoption, and eventual decline, reflecting the natural evolution of software products in response to user needs, technological advancements, and competitive forces.
Key Stages of the Product Development Life Cycle
Every software product goes through four primary stages in its life cycle:
- Introduction
- The product is launched into the market after development and testing.
- Early adopters begin to explore its features.
- Heavy investments in marketing and user acquisition are required.
- Revenue is usually low as adoption is still growing.
- Growth
- The product gains traction as more users adopt it.
- Features are refined based on user feedback.
- Sales and revenue increase significantly.
- Competitors may start to enter the market with similar solutions.
- Maturity
- The product reaches peak adoption and market saturation.
- Growth slows down as most potential customers have already adopted it.
- The focus shifts to customer retention, feature upgrades, and optimization.
- Pricing strategies and promotions may be used to maintain competitiveness.
- Decline
- Market demand decreases due to newer technologies or shifting consumer preferences.
- Competitors introduce more innovative solutions.
- The company decides whether to revamp, reposition, or sunset the product.
- Support and maintenance may be gradually phased out.
Understanding the Product Development Life Cycle is crucial for software companies to anticipate market shifts, innovate continuously, and maximize a product’s lifespan before it reaches the decline stage.
2. Top 10+ Product Development Life Cycle Examples
Understanding the Product Development Life Cycle (PDLC) is essential for making informed business decisions. Depending on which stage a product is in, companies must decide whether to invest in further development, optimize marketing efforts, or prepare for a product phase-out.
While some products maintain a long maturity phase, no product lasts forever. Over time, factors such as technological advancements, market competition, shifting consumer preferences, and declining sales lead to the eventual exit of products from the market.
To better grasp how products evolve, let’s explore real-world examples of each phase in the Product Development Life Cycle.
Introduction Stage Examples
The Introduction Stage is the initial phase where new products enter the market. At this point, products often have high development costs, low sales volume, and uncertain demand. Companies invest heavily in marketing, awareness, and user education to gain early adopters and establish their presence.
Here are some real-world examples of products currently in the introduction stage:
1. Smart Glasses
Smart glasses have made a comeback after the initial failure of Google Glass. With advancements in augmented reality (AR) and AI, companies are once again exploring their potential.
Lenovo ThinkReality A3 – Unveiled at CES 2021, these AR glasses offer dual 1080p displays, room-scale tracking, and advanced applications for enterprise use, such as remote assistance and workflow optimization.
Why it’s in the introduction stage:
- Still gaining market traction.
- Requires early adopters, primarily in specialized industries.
- Companies are experimenting with use cases beyond consumer entertainment.
2. Smart Face Masks
With COVID-19 reshaping global health trends, face masks have evolved from a necessity to high-tech wearables with added functionality.
Razer Project Hazel – Marketed as the world’s smartest face mask, it features:
- N95-grade filtration for better protection.
- Built-in voice amplification to improve communication.
- LED lighting and customizable design for a futuristic look.
Why it’s in the introduction stage:
Requires strong marketing and adoption before mass production.
A new product type emerging due to a global crisis.
Early adopters are still testing usability.
3. Telehealth and telemedicine
To lower the exposure of Covid-19, many companies have started implementing more telehealth offerings such as doctor-patient video chats, AI avatar-based diagnostics, and no-contact-based medication delivery.
Suki
Suki is like Alexa for doctors. They can use Suki to take notes during patient appointments and those notes will automatically fill out electronic health records (EHRs).
Review: It is easy to implement and even easier to use.
Available: App Store
Growth Stage Examples
4. Artificial Intelligent (AI) and Machine Learning (ML)
The AI market is expected to grow to a $190-billion industry by 2025 with global spending on cognitive and AI systems reaching over $57 billion in 2021.
Other than it used to be, AI not only helps to help predict better decisions for service like hospitals but also detect the changing patterns of customer behavior by analyzing data in real-time.
On the other hand, machine learning is being deployed in all kinds of industries.
With AI and ML spreading their wings across sectors, they will create 9 percent of new jobs in the U.S. by 2025 including robot monitoring professionals, data scientists, automation specialists, and content curators
In the consumer market, the health assistant apps are witnessing a breakthrough – because of COVID-19.
Youper
Youper uses AI to help users take control of their emotional health as they can have quick conversations with it.
Review: The app enjoys excellent reviews on app stores.
Available: Android and iOS
5. Voice search
It took almost 10 years for the form factor and the interaction of smartphones and tablets. And now you can see it everywhere from digital newspapers, e-commerce stores to ERP systems.
Coming from the consumer sector, voice interfaces are developing so quickly. They will soon overtake certain user interactions in the business sector.
In addition, it will be further intensified because of the corona-related demands for touchless UIs.
Hound
Hound is an AI-powered voice assistant app. You can search for information using your natural voice.
Then it can give you accurate results quickly. For example, this app can make a phone call or send a text message for you on your demand. Or you can find a hotel nearby, call an Uber, check flight status, and many more!
Review: It quickly finds what you asked for.
Available: Android and iOS
6. Data
We all know the sudden shift in hardware technology. The role of software, with its quality and functionality, will be replaced by data.
Nevertheless, to meet the growing demands of the new online economy, enterprises need to implement technologies that can automatically scale to handle vast amounts of data.
It also provides faster access to data and accelerated analytics to reduce latency.
7. Edge computing
By 2022, the global edge computing market is projected to climb to $6.72 billion. And this new technology trend is only meant to grow and nothing less.
All public cloud hyperscalers (AWS, Microsoft Azure, GCP) will offer the entire continuum from public clouds to edge computing via cloud regions as well as operating systems on very small IoT devices.
In addition, the banking industry is expected to show a significant adoption of edge computing solutions. The adoption of blockchain technology and also mobile payments certain factors are further fueling the demand for edge computing in the industry.
As a result, several banks are developing payment apps and services compatible with mobile devices.
Barclays
Barclays Mobile Banking app allows you to complete many tasks while you’re on the go and don’t have time to call up or visit a branch.
Using this app, you’ll be able to access all of its many features, some of these include:
- Start/cancel standing orders
- Pay new and existing payees
- View your account balance and transactions
- Transferring money between accounts
- Managing Direct Debits
- Report your card lost or stolen
- Checking your eligibility for a loan
Review: It enjoys great rating stars both on Google Play and App Store.
Available: Android and iOS
8. Internet of Things (IoT)
Another promising technology in the growth product development life cycle is IoT. We all can tell that the internet of things is the future.
And it has already enabled devices, home appliances, cars, and much more to be connected to and exchange data over the Internet.
By 2030 around 50 billion of these IoT devices will be in use around the world, creating a massive web of interconnected devices spanning everything from smartphones to kitchen appliances.
Fitbit
If you are trying to lose weight, training for an event, or just wanting to make healthier choices every day, Fitbit devices will be exactly what you are searching for.
Specifically, Fitbit exists to help you live a healthier life by tracking your fitness goals. And there’s no denying that Fitbit devices are interesting gadgets that may be an ideal workout companion for many individuals.
Maturity Stage Examples
9. Smartphone
It’s more than just a phone. Thanks to cloud-based services, much of your business can be conducted online.
The smartphone’s power lies in its helpful features, multi-tasking capabilities, and convenient accessibility.
Nowadays it seems that the smartphone has become one’s must-have personal assistant without which often makes us feel inefficient.
There are 5.11 billion unique mobile users worldwide in 2019, and 2.71 billion of them use smartphones.Source: Data Reportal
10. Personal computers
Laptops also offer great freedom and flexibility to do your work anywhere and anytime. For most people, the freedom that laptops offer is a convenient luxury.
No matter where you are, a laptop allows you to bring your work with you.
However, these are almost at the edge of the decline stage due to the rising of smartphone users. Except in specific cases like financial companies, researchers, gaming communities, etc., these are on their way out.
Decline Products Examples
11. Segway
You may be wondering why segway is on this list? Even if it is the device of the future in the perfect moment to succeed.
The Segway fell foul of regulation in many countries where it was banned from sidewalks and roads because it did not fit any existing categories.
Another reason is it was an appealing novelty but there was no compelling need for anyone to buy it. An it is really expensive.
12. Nokia smart phone
Back then for many people, Nokia was their first phone. It became the best selling brand within a decade.
However, behind the curtains, Nokia failed to adapt to the changing environment. While companies like Samsung, Apple, HTC were making software-driven phones, Nokia was still regretfully fixated on the traditional phones.
2. Conclusion
There is something you need to note that the product development life cycle should never end.
The product development life cycle is only really effective if you take time to really understand this and how you need to manage each stage.
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