Rapidly increasing diversification calls for a new industry framework. Traditional framework was linear and sequential. Concurrent Engineering worked very well in these environments to reduce time to market. But to meet widely diversifying requirements, we have to develop another framework to adapt to this situation. Parallel Engineering is proposed. It will enable us to adapt quickly to the changes and we can explore new markets. This framework pivots on emerging technologies in material and in networking. Parts companies will play a central role and by combining these parts, any products can be realized to meet personal preferences and needs of customers.