Time to Market
Time to Market (TTM) directly impacts a product's success and competitive advantage. In product management, reducing TTM accelerates revenue generation, increases market share, and improves customer satisfaction. A faster TTM can lead to a 30% increase in product profitability over its lifecycle, making it a critical metric for product teams and stakeholders.
Understanding Time to Market
TTM measures the duration from product conception to market availability. For software products, the average TTM is 6-12 months, while hardware products typically take 18-24 months. Agile methodologies have reduced software TTM by up to 50%. TTM calculation includes phases like ideation, development, testing, and launch. Industry leaders like Amazon achieve continuous deployment, pushing code updates every 11.7 seconds.
Strategic Application
- Implement rapid prototyping to reduce development time by 30-50%
- Utilize parallel development processes to compress timelines by up to 40%
- Prioritize features ruthlessly, focusing on MVP to launch 60% faster
- Leverage automated testing to cut QA time by 75% and improve product quality
Industry Insights
The rise of no-code/low-code platforms is dramatically reducing TTM, with some companies reporting 90% faster development cycles. AI-assisted development tools are further accelerating this trend, potentially halving traditional software development timelines by 2025.
Related Concepts
- [[minimum-viable-product]]: Accelerates TTM by focusing on core features
- [[agile-development]]: Iterative approach that significantly reduces TTM
- [[continuous-integration]]: Enables faster, more frequent product updates