*Note, companies could select multiple reasons in original survey, so the % will not add to 100
Developing a new product is a PAIN IN THE ASS.
Product development is laborious, complicated, and expensive, so much so that even big tech companies and experienced developers struggle to estimate the time and cost required for a successful launch.
Unexpected challenges can tax your resources and cripple your time to market. And guess what?
They are practically guaranteed to occur.
Problem statement is not clearly defined, so results are equally vague
Execution upon ideas does not always happen. Companies run ideation to amass tons of ideas, and then the suggestion box is put away because a fire came up in existing products
Wrong expectations in that ideation will guarantee a new business / product idea
Allocation of resources – mid project movement results in development gaps that, if not carefully annotated, become lost during process
Make it work and make it beautiful at the same time vs separate flows?
If nothing else, this is your takeaway for the day. Hardware is only hard if you underestimate the process. And make no mistake, with the wrong people scoping your project, hardware development becomes an absolute nightmare to deal with at each step of the development lifecycle. With the right teams and the right level of preparation across the right ecosystem, hardware can be a successful venture.
Accelerating Hardware Development: Ideation and Engineering