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Products continuously evolve over time. Realizing the pattern of product family evolution along with proper estimation of features for future products has been regarded as a critical issue for business success. Focusing on this issue, a dynamic model for product family evolution combined with forecasting is proposed in this research work. The proposed model considers the influence of market demand, customer needs and technological requirements that are time-dependent. The methodology is a four-phase model. In this model the evaluations of product family evolution are based on the Grey Relational Analysis and Fuzzy Analytical Hierarchy Process. Sensitivity is performed to investigate the reliability of the model. In addition, a data-driven neural network-based forecasting model is proposed that can forecast the specification of the most influential features of future product with a reasonable accuracy. This …