What is sunsetting meaning?

Sunsetting meaning refers to the process of gradually phasing out or discontinuing a product or service. This could be due to a variety of reasons such as a company's strategic shift, changes in market demand, or regulatory requirements. Sunsetting is typically done in a phased manner, giving users ample time to transition to a new product or service. This process often involves communication with customers, providing alternative options, and ensuring continuity of service during the transition period. Sunsetting can be a challenging process for businesses as it requires careful planning and consideration to avoid disrupting customers' operations. However, it can also be a necessary step for companies to evolve and remain competitive in the market.