Tech companies face challenges in product development such as rapid market changes, shifting consumer preferences, and resource constraints. One of the biggest hurdles is the need for agility in responding to feedback and iterating on products. Balancing innovation with risk management is also crucial; companies must invest in R&D while ensuring feasible returns. Additionally, maintaining cross-functional teamwork and communication can be challenging, particularly in larger organizations. Intellectual property protection and navigating regulatory requirements further complicate the development process, necessitating a strategic and adaptive approach.