What if your next product could be brought to life in half the time, with lower prototyping costs, and designed to resonate with tomorrow’s customers? That’s not a futuristic fantasy. It’s the direction product design and development is rapidly heading.
Companies that embrace design-led innovation grow nearly twice as fast as their competitors. Meanwhile, 73% of global consumers expect brands to prioritize sustainability, pushing businesses to think smarter and design greener. As digital and physical products continue to converge, staying ahead of these trends is a challenge. That's why selecting the right agency can significantly influence the success of your digital or physical product.
In this article, we explore five consumer product design companies — Lazarev.Agency, Think Company, Smart Design, Ustwo, and UX studio. We evaluate them based on their founding history, team size, industry focus, client portfolio, and unique strengths, offering you a clear and comprehensive guide to choosing your ideal partner.
Key Takeaways
- Companies that prioritize design not only accelerate time to market but also grow nearly twice as fast as their competitors, making strategic product design a business essential.
- Selecting the right product design company can directly impact product success and long-term scalability.
- Leading product design companies like Lazarev.Agency, Think Company, and Smart Design offer end-to-end services from market research and prototyping to UX/UI and engineering.
Detailed Analysis of Top 5 Product Design Firms
1. Lazarev.Agency
Lazarev.Agency is a digital product design agency offering a comprehensive range of services, including web design, digital strategy, user testing, and product design. For over ten years, we’ve been redefining what’s possible in digital product design. At Lazarev, we believe great design exists at the intersection of creative innovation and commercial success. This philosophy has earned us three Webby Awards and recognition as an industry leader across Fintech, AI/ML, Edtech, Web3, and other sectors.
While we’re proud to work with global brands like Accern and Boeing, our true passion lies in transforming complex challenges into elegant, user-centric solutions for businesses at every scale. We excel in addressing complex engineering challenges and creating innovative product designs that meet regulatory standards and market needs.
2. Think Company
Founded in Philadelphia, they’ve built a reputation for delivering holistic solutions that span from strategy to implementation. Their flexible engagement model allows teams to adapt to client needs, whether through short-term project collaboration or extended on-site partnerships. With clients like Johnson & Johnson and JPMorgan Chase, they demonstrate expertise in creating enterprise-level solutions while maintaining agile methodologies and user-centered design principles.
Think Company employs over 105 people across three offices in the USA. They also excel in digital strategy, which complements their product design services. They are known for their expertise in managing the development process and delivering projects that integrate aesthetics and usability.
3. Smart Design
Smart Design excels in creating products that blend functionality with user experience. Their strategic approach combines deep research with technological innovation, resulting in solutions that solve real-world problems. Notable projects include their collaboration with Gatorade on tech-enabled hydration monitoring and OXO’s efficient cold brew coffee maker.
Smart Design’s rigorous quality control processes ensure that each product meets the highest standards of excellence. Their collaborative approach to concept development involves diverse teams working together to generate and refine design ideas. Additionally, they manage the entire product life cycle from initial concept to market launch.
4. Ustwo
Founded in 2004 by two friends in the UK, Ustwo has grown into a global force in digital product design. Their diverse portfolio spans from mobile applications to metaverse experiences, showcasing their ability to stay ahead of technological trends. Working with industry leaders like Google, Ford, and Peloton, they’ve proven their capability to deliver transformative digital experiences across various sectors.
Ustwo is an internationally recognized product design company with over 250 employees. They employ innovative strategies to develop unique solutions, positioning themselves as a comprehensive development firm in the product design industry. Ustwo’s expertise in mobile application development has led to the creation of innovative mobile solutions for clients ranging from startups to established tech companies.
5. UX studio
As one of the fastest-growing best product design companies globally, UX Studio combines strategic thinking with agile transformation capabilities. Their team of 60 product design professionals specializes in creating outstanding digital products while focusing on business structure innovation.
Recognized among top B2B service providers by Clutch Global, they excel in product management, strategic planning, and supply chain management. Their expertise in these areas has led to significant market success with their innovative product designs.
How Product Design Companies Operate
Top product design companies follow a streamlined, phased approach that combines creativity, engineering, and business strategy. Below is the overview of how the typical process looks like.
1. Research and User Discovery
Before designing anything, top firms focus on understanding the user needs and business goals. This phase often includes:
- Conducting usability interviews, surveys, and persona mapping
- Benchmarking competitors and identifying gaps in the market
- Gathering behavioral insights to inform feature prioritization
These insights lay the groundwork for innovative solutions that truly serve users.
2. Strategy and Product Definition
With research in place, the team defines the product vision and structure. This includes:
- Mapping user journeys and key workflows
- Establishing MVP features based on user and market priorities
- Aligning stakeholders around shared goals and success metrics
Design thinking drives this phase to ensure that product direction balances feasibility with user value.
3. UX/UI Design and Prototyping
Now the visual and interactive elements come to life. Here’s where product designers apply both aesthetic sensibility and usability best practices:
- Creating wireframes, mockups, and interactive prototypes
- Using tools like Figma or Sketch to simulate the user experience
- Testing prototypes with real users for early feedback
Prototyping also helps engineers collaborate closely by clarifying technical feasibility and implementation paths.
4. Handoff and Development Collaboration
Once approved, designs are translated into code by software engineering teams. A strong design partner will:
- Provide clear design specs and style guides for developers
- Collaborate on component libraries and design systems
- Ensure technical aspects like responsiveness, accessibility, and scalability are built-in
Close alignment across teams improves efficiency and reduces development errors.
5. Iteration, Launch, and Optimization
Digital products are living systems. Post-launch, teams refine and expand based on real-world usage:
- Analyzing user behavior and feature adoption
- Prioritizing updates based on evolving needs
- Scaling architecture for performance and growth
In evolving projects and complex systems, this iterative mindset is critical for sustained project success.
“Great product design starts with listening, not sketching. The biggest mistake teams make is falling in love with the solution before fully understanding the problem. Always prototype early, test often, and design with empathy, not ego. Success isn’t about perfection; it’s about learning fast and aligning every detail with real user needs.”
{{Kyrylo Lazariev}}
Choosing Between Product Design Providers
When looking to bring a new product to life, one of the most critical decisions is selecting who will design it. Businesses typically have four main options: freelancers, agencies, consultancies, or building an in-house team. Each comes with its own advantages, limitations, and ideal use cases. The right choice depends on your budget, timeline, complexity, and long-term goals.
Freelancers vs. Agencies vs. Product Design Consultancies
Let’s break down the key differences among these three popular routes:
Freelancers
Freelancers are often solo designers or engineers who offer a flexible, cost-effective way to get started. They’re ideal for:
- Tight budgets or bootstrapped startups
- Quick MVPs or small feature redesigns
- One-off deliverables (e.g., a 3D rendering or UX audit)
However, freelancers may lack the infrastructure for large-scale collaboration, and project continuity can suffer if they take on other clients or exit midstream.
Design Agencies
Agencies typically house cross-functional teams: industrial designers, UX/UI designers, researchers, and engineers. This makes them well-suited for:
- Consumer product launches
- Full-stack product design and branding
- Projects requiring scalability and speed
💡 Pro Tip: Many product design firms in this category, such as Lazarev.Agency, Smart Design or Ammunition, are known for their ability to deliver sleek, market-ready solutions across diverse industries.
Product Design Consultancies
Consultancies are the premium tier in this ecosystem. Think of firms like IDEO or Frog Design. They help shape business strategy and long-term product roadmaps. Their strengths include:
- Human-centered design thinking
- Integration with R&D, innovation labs, or venture teams
- Multi-phase product evolution over months or years
They’re ideal for companies looking to innovate at scale or enter new markets with breakthrough products.
In-House vs. Outsourcing Product Design
Another major decision lies in whether to keep design internal or outsource to external experts. Each model comes with trade-offs:
In-House Teams
Building a product design team internally makes sense for:
- Companies with recurring design needs
- Organizations that require IP control and privacy
- Businesses wanting tighter alignment with brand vision
However, hiring and retaining top talent can be a slow and costly process. Plus, in-house teams may struggle with creative burnout or limited exposure to industry innovations.
Outsourced Product Design
On the other hand, outsourcing to product design companies offers:
- Access to cutting-edge tools (e.g., SolidWorks, Rhino, KeyShot)
- An immediate infusion of expertise
- Exposure to cross-industry best practices
It also removes the overhead of managing salaries, HR, and benefits. This makes it the preferred option for startups, fast-moving consumer goods companies, and anyone needing flexible design bandwidth.
For example:
- A startup launching a smart wearable might begin with a freelancer to mock up early concepts. After funding, they could partner with an agency for industrial design and engineering.
- A multinational tech firm expanding into medical devices may bring on a consultancy like IDEO to handle not only product design but also user research and regulatory navigation.
💡 Inspiration: For a fresh perspective on creativity and problem-solving, don’t miss this TED Talk by Dave Raggio, Vice President at Intuit SMB MediaLabs — a must-watch for design leaders aiming to foster innovation.
How to Shortlist and Hire the Right Product Design Agency
Start by clearly defining your project scope, goals, timeline, and budget. Once you have these in place, research agencies that specialize in your industry or have a proven track record with similar products. Pay close attention to their portfolios, case studies, and client testimonials. Look for consistency in quality, innovation, and user-focused design.
Using RFPs and Design Briefs
A well-structured Request for Proposal (RFP) should outline:
- Project objectives and expected outcomes
- Target market and user personas
- Timeline and key milestones
- Budget range and payment expectations
Pair this with a concise design brief to give potential partners creative direction. The more clarity you provide, the more tailored and accurate the responses will be.
Vetting with Testimonials and Reviews
Don’t just rely on glossy marketing. Dive into reviews on platforms like Clutch, GoodFirms, or DesignRush. Speak to past clients if possible to understand how the agency handles deadlines, communication, revisions, and problem-solving.
Ask direct questions like:
- How do you manage scope changes during the project?
- What happens if we miss a milestone?
- Can you walk us through a challenge you overcame in a recent project?
The answers can reveal how the agency operates under pressure and collaborates in real-world conditions.
Check Cultural Fit and Communication Style
A successful partnership hinges on chemistry and shared values. Schedule discovery calls or workshops to see how your teams mesh. Do they listen well? Are they proactive or reactive? A firm that understands your brand voice, audience, and vision will always deliver more impactful results.
What Slows Down Product Innovation (and How to Fix It)
Even the most innovative companies face hurdles during the product development cycle. From shifting priorities to technical roadblocks, managing a successful project requires coordination, clarity, and contingency.
Communication Gaps and Timeline Issues
In projects involving UX/UI design and software development, poor communication can lead to misalignment and missed milestones. This is especially critical in mobile app development or digital product design companies managing distributed teams.
To avoid delays, leading firms implement structured project management systems with:
- Clear deliverables and role assignments
- Regular status updates and milestone reviews
- Integrated tools for real-time collaboration and file sharing
These practices ensure that UX designers and engineers stay synced throughout the entire design process.
Cost Overruns and Budget Planning
Unplanned expenses are a common pitfall in complex projects, particularly when scaling from prototype to full production. Whether it’s mechanical engineering, web development, or user interface design, costs can spiral due to material changes, added features, or unforeseen technical hurdles.
To manage this risk:
- Firms should conduct early market research to set realistic scopes
- Provide transparent estimates with line-item budgets
- Include buffer zones for unexpected changes in the engineering process
Partnering with a leading product design company that offers comprehensive solutions across disciplines can help prevent budget creep while staying focused on delivering market-ready products.
These challenges are common, but not unavoidable. With the right mix of technical expertise, proactive planning, and proactive communication, companies can transform potential setbacks into a competitive edge.
Case Study: How Lazarev Reimagined Payoneer’s Digital Experience
Payoneer, a global platform for cross-border payments, needed a more intuitive, user-friendly experience to better serve freelancers, online sellers, and businesses. Their existing UX/UI lacked clarity and engagement, which led to frequent customer support requests and users relying on third-party tools for basic financial tracking. The goal was to redesign the digital experience to improve usability, engagement, and long-term retention.
Our Approach
Lazarev.agency conducted in-depth discovery sessions and UX workshops to understand user pain points and business opportunities. The redesigned experience focused on simplifying complex financial tasks, introducing playful and interactive elements, and reducing user friction through smart, AI-driven features.
Key areas of improvement included:
- Revamped home screen to centralize financial activity like card balances and recent transactions, while retaining Payoneer’s brand identity.
- Interactive wallet with color-coded cards by currency to make financial management more intuitive and visually dynamic.
- Enhanced currency conversion flow with a predictive calculator and a proposed expansion of supported currencies to improve utility.
- AI-powered voice assistant to answer common questions and triage support, aimed at reducing customer service load and response times.
- In-app analytics dashboard to help users track spending, reducing dependency on external tools.
- Gamification with “Payocat” mascot, introducing a reward-based mini-game to boost user retention and offer discounts based on user engagement.
Project Outcomes
- A simplified and more visual home experience that supports everyday financial decision-making.
- Improved product engagement through interactive and gamified elements like the currency-color Wallet and Payocat game.
- A clear path toward reducing customer support volume with AI assistance and clearer flows.
- Strengthened brand identity through consistent visual design and the introduction of a memorable mascot.
- A more competitive feature set, offering in-app analytics that keeps users within the Payoneer ecosystem.
Check the full case study here.
Finding Your Ideal Product Design Partner
Choosing the right product design company can shape the success of your product. Whether you’re a startup building your first MVP or a global medtech company refining a complex product line, it’s crucial to work with a team that blends creativity, technical skill, and a strong grasp of market needs.
Lazarev.Agency brings that balance. With deep experience in emerging tech like AI, ML, and Web3, and recognition including multiple Webby Awards, we provide full-cycle support — from concept to launch — helping clients turn ideas into market-ready solutions.
Ready to bring your product idea to life with a design company specializing in innovative solutions? Contact us today and discover how Lazarev.Agency can support your business objectives from concept to launch.
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