Where is the product management software going?

The product management software industry is on a remarkable upward trajectory, projected to reach $41.58 billion by 2030. This growth is transforming the landscape, making tools like Notion essential for product managers dealing with increasingly complex products.

Developing complex products requires robust frameworks applicable at every stage of the product life cycle. At Belowtion, we believe that software development is a knowledge activity, aligning with Notion's philosophy that software should also be enjoyable to use.

However, the market for product management software is competitive. Organizations must carefully choose the right software based on their needs, available resources, and existing systems, much like how Figma is pivotal for design teams.

We've conducted a quick research with ChatGPT to evaluate various product management software, refining our findings through a series of questions. The competition is fierce, as reflected in the rankings:

Read previous article.

Why this happens?

Building digital products is a growing trend due to the diverse skills required in product projects, including designers, engineers, business analysts, and marketers. We are increasingly software-led rather than product-led, and even the role of product managers is evolving, as seen in Airbnb's product management shift. We are curious to see how this role will develop in the AI era.

Product managers need flexible yet structured tools that allow them to centralize work and knowledge in one place throughout the product management cycle, including the stages before software development.

One framework that helps us understand the process of building software-based products is the double diamond framework, explained in this article. Another favorite is the cone of uncertainty from AACE International, which describes the evolution of project uncertainty. Initially, little is known about the product, but as research and development progress, uncertainty decreases, reaching 0% by the end of the project when responsibilities are transferred to a maintenance group.

We like to visualize it with the following figure:

If you are looking to learn more about product management tools and crafts, as well as how Notion can help you in the process taking the following email course. Become your best product manager version.