The recent trend of switching from single software product development to
lines of software products in the software industry has made the software product line concept viable and widely accepted methodology in the future. Some of the potential benefits of this approach include cost reduction, improvement in quality and a decrease in product development time. Many organizations that deal in wide areas of operation, from consumer electronics, telecommunications, and avionics to information technology, are using software product lines practice because it deals with effective utilization of
software assets and provides numerous benefits. Software product line engineering is an inter-disciplinary concept. It spans over the dimensions of business, architecture, process and organization. The business dimension of software product lines deals with managing a strong coordination between product line engineering and the business aspects of product line. Software product line architecture is regarded as one of the crucial piece of entity in software product lines. All the resulting products share this
common architecture. The organizational theories, behavior and management play critical role in the process of institutionalization of software product line engineering in an organization. The objective of this chapter is to discuss the state of the art of software product line engineering from the perspectives of business, architecture, organizational management and software engineering process. This work also highlights and discusses the future research directions in this area thus providing an opportunity to researchers and practitioners to better understand the future trends and requirements.