The business environment 2024 will be characterized by increasing financial pressure due to record-high inflation. Managers will be scrutinized when they are faced with the task of managing tighter budgets and increasing the return on investments with fewer resources at hand.
The best part? Despite the economic downturn, companies are still determined to invest in digital transformation initiatives. The research shows that about 70% of businesses view growth as their top priority and that the technologies “early adopters” witnessed faster and greater growth.
More and more companies are embracing sophisticated and custom software development, and we can anticipate that the IT sector will expand at an annual rate of growth of 5% in 2024. Why? Because they understand the necessity of digital change in the changing technological landscape.
Top Trends in Software Development
Keeping up-to-date with the latest trends will not only help you stay on top of the latest trends but also allow you to adjust to the latest technologies and methods quickly.
To stay competitive and make informed decisions about your project’s development, you must stay up-to-date with the most recent advancements in software development.
We have decided to highlight the top software development trends that can help you develop your ideas within the evolving technological landscape.
Open AI or Generative AI
The development of software using Open AI and Generative AI capabilities has attracted much attention in recent years.
The Open AI Chat GPT and generative AI applications like Eleven labs are popular applications that make the development of software quicker, simpler, less time-consuming, and more efficient.
Additionally, Open AI has exceeded expectations, completely transforming the software development landscape by delivering highly effective and efficient software programs while reducing development timeframes and expenses.
Open AI technology has become a global trend, which has led to remarkable changes across various fields, including NLP-based software, Computer vision systems, and recommendation systems in software development.
Progressive Web Apps
Since its debut in 2015, the development of Progressive Web Apps has been a long and difficult journey.
Technology is now gaining the level of acceptance that it is due. In addition, according to the research of Emergen Research, the global PWA market could be worth about USD 10.44 billion by 2027.
Since mobile usage is also growing exponentially, PWAs provide an excellent chance for webmasters to make user experiences even more appealing with app-like experiences and cut down on the development cost.
Here’s an example to show the value and importance of PWAs:
Pinterest required a revamp to be more effective in reaching its users. After careful review and analysis, they uncovered areas of the website that were not performing well and determined that a revamp was required to increase the number of customers they serve.
After three months of intense effort, the website was rebuilt with React and then converted to a Progressive Web App (PWA) that resulted in radical modifications, including a staggering 40% increase in user usage and an impressive 44% increase in advertisement revenue.
If you want to enhance your mobile experience and reduce costs, investing in PWA could be your company’s solution!
IoT is on the Rise
We are in the midst of an exciting future fueled by the widespread use and expansion of smart gadgets and IoT solutions.
From connected home systems to monitoring for industrial applications, IoT devices allow us to bridge the gap between the physical and digital worlds, providing an unparalleled view of our daily activities.
Despite experiencing a temporary disruption in the first quarter of 2020 due to a decline in investments in technology across certain industries however, the market quickly recovered and is currently forecast by IDC to exceed US $437 billion in Asia Pacific alone by 2025.
From machine learning algorithms’ predictive capabilities to automated processes by edge computing, new advancements in AI, ML, and other technologies have made IoT solutions more widely applicable.
Low Code/No Code Software Development
No code or low code is the fastest-growing trend in custom software development.
It offers a range of tools to help people without programming expertise create customized applications for businesses.
Low code/no idea of code allows non-technical individuals to create apps that meet their companies’ requirements and demands.
Low-code/no-code isn’t a brand-new technology, but it is becoming popular because of the growing interest from IT departments and development companies.
Because minimal coding or even no programming takes less time to develop, it is now the preferred choice for developers who want to create applications for small businesses quickly.
Furthermore, the built-in function and components give developers and non-technical users the ability to add fields to your application. So, you don’t need to write any programming.
It reduces the time-consuming hand-coding process and can integrate existing apps with ready-to-connect APIs, connectors, and others.
Cloud-Native Application Development
Cloud-native development is a trend in software development that involves creating and operating applications within the context of distributed computing (aka “the cloud”). It gives organizations an easier method for developing and updating their apps while ensuring high quality and minimizing risks.
A more simple definition of a cloud-native app is software designed to work in the cloud. For instance, streaming services such as Netflix operate on the cloud but allow users to connect to it via their smart TVs or other devices.
Cloud-native applications require both front-end and back-end architecture. The front end is where users interact with the program that runs at the back end through an interface. Back-end infrastructure consists of hardware and storage located on a distant server farm (i.e., the cloud).
Software developers who work on cloud-native apps combine the front and backend to ensure seamless interaction. They require programming expertise in traditional languages like C/C++ and C# and web-centric languages like Java, JavaScript, .NET, Node.js, PHP, Python, and Ruby. Experience with cloud-native app development containers, platforms, Kubernetes, APIs, DevOps, and Agile methodologies is essential to the job.
Blockchain Technology
Blockchains are digital ledgers distributed over computer network nodes. Although they are often referred to as databases, they are organized differently. Although a database is usually organized into tables and expands in size when it contains more data, a cryptocurrency organizes data into blocks, which hold the information in a restricted amount. When the storage capacity of a block is exhausted, it shuts. The block is then linked to the previously filled block and strung together to create the blockchain.
One of the main advantages of blockchain is that its data structure provides an unsecured and decentralized timeline and records of transactions and data. The blockchain structure provides an irreversible record of transactions, meaning that data contained in a block is proven secure without verification by a third party. This is why blockchain is an ideal choice for financial applications, such as cryptocurrency systems like Bitcoin or Ethereum.
As blockchain software development is gaining attention and acceptance in the financial markets, other companies are exploring its potential. For instance, using blockchain technology to improve the transparency of supply chains can cut down on risk and enhance the effectiveness of the supply chain in general. Another instance of blockchain usage and its applications in the industry includes healthcare, specifically securing genomics and healthcare data and enhancing tracking outbreaks and diseases.
Automation
The main advantage of automation is that it eliminates human involvement. Automation technology can aid manufacturers in identifying production issues or assist financial institutions combating fraud. This allows employees to focus on more valuable tasks and increases worker productivity, which is the main driver of economic growth.
As the world becomes increasingly digital, businesses invest in automated processes to help their digital transformation and reap economic rewards. According to Oracle, businesses can expect profits of $5.44 in the first three years per dollar they invest in marketing automation.
Software automation is a development trend that employs various methods, from software development to infrastructure deployment. Automation can also speed up the process of developing software. Software developers who work on developing automation solutions typically have experience in scripting, source code management, Kubernetes, security, and monitoring. Their programming skills typically comprise Java, Python, Ruby, and Perl.
User Experience (UX) Design
A custom software developer may create products with all the bells and whistles, but if users find its user interface sloppy, they will want to utilize something other than the software. Good customer experiences are essential to the success of a business. According to PwC, 59% of customers will leave after a series of negative experiences, and 17% will likely quit after one bad encounter.
This is why user experience design (UX) is becoming an increasingly significant trend in software development. UX design is usually carried out separately from software development. In other words, when UX designers investigate, design, and evaluate user interfaces while software developers construct the code and structure of a product. Furthermore, while UX designers are focused on ensuring that the end-user is pleased with the product’s operation, a software developer is concerned with the product’s technical performance. But, linking both of these processes together will make the system perform effectively.
UX covers all kinds of technological products. For instance, mobile-responsive design, one of the subsets of UX, is focused on mobile-friendly experiences. Software developers who wish to create software with users in mind must be aware of UX concepts like prototyping, wireframing, and employing design tools like Adobe.
Artificial Intelligence (AI)
The 2021 McKinsey report on the current state of AI in the business world says that 56% of businesses have implemented AI. The report highlights the increasing impact of AI technology in four important areas that could directly affect an organization’s bottom line: services operations, product or service development, marketing, sales, and risk.
One of the main areas driving growing interest in AI-driven apps is machine learning (ML). ML is a particular subset of AI that can be described as a machine that has the capability to learn from experiences without programming, similar to human intelligence.
Software developers who work in AI and ML applications utilize huge amounts of data and create algorithms that train a model to analyze data and forecast results. AI or ML can speed up processes throughout the lifecycle of software development, including testing. AI tests can run on autopilot, allowing developers to write code with greater time and space.
To develop models, software developers who work in AI and ML must be proficient in various languages, including Python, R, Java, and C++. Software developers in this field are also knowledgeable about the definition of problems, the collection of data and its preparation, and model learning deployment, integration, and management.
The Key Takeaway
As digital transformation speeds up, billions of devices join the IoT, the amount of data continues to increase, and new trends in software development, there is a rising demand for software development professionals.
The most successful custom software development companies are at the forefront of helping companies adapt to rapid technological developments, resulting in ongoing career opportunities and leadership positions. Developers need to keep their skills current and their knowledge up to date to stay competitive.
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