Currently, the software industry is in flux. The technological downtown in 2022 caused widespread layoffs that continued throughout the last year. More than 250,000 workers were bound to lose their jobs. The good news? Despite this horrible employment situation, businesses remain committed to investing in digital transformation initiatives. More and more companies are moving towards advanced and innovative software development services. Thus, we can expect the IT sector to expedite at a compound annual growth rate of 5% by 2024.
But the question here arises where will both software and technology take us in the near future?
Let’s dive right in!
Some of the major software technology trends expected in 2024 are listed below:
1. Increase in Cloud Computing
According to a study, in the aftermath of the COVID-19 crisis, global end-user spending on public cloud services increased by 18.4% in 2021 to a total of $304.9 billion. As companies continue to digitize their operations, cloud computing technology is likely to continue into 2024 and beyond.
The cloud revolution has fundamentally reshaped the trajectory of business operations, innovation, growth, and technology itself. Hence, with cloud-based software development, you’re free from building your own physical infrastructure to create software.
2. Growing Demand for Blockchain
Blockchain has been heralded as one of the amazing technologies of the 21st century. It has disrupted industries and changed the concept of sharing money and information globally.
However, this technology uses a shared ledger distribution across many computers. Thus making it extremely difficult to alter and hack.
From distribution, manufacturing, and healthcare to the financial sector that previously incorporated this tech, we can expect that its market will flourish in the near future. Blockchain technology will increase to nearly 1,000 trillion U.S. dollars by 2032.
3. AI adoption Surges
AI is considerably influencing nearly every industry. This year, the survey finds that AI adoption has jumped to 72%. This is due to the fact that AI is no longer a concept for sci-fi fans thinking of space exploration.
Since, nowadays it is extensively used by software development companies to build predictive analytics and ensure data-driven decision-making in their business. From tech heavyweights to small digital marketplaces, businesses of all scales can benefit from the adoption of AI in their applications.
So now its time to check out the top AI trends that will determine how companies can leverage AI technology in the future.
AutoML
Whether it’s retail, finance, or healthcare, every industry needs automated machine learning to simplify complex data and increasingly reduce training time for models. It merely includes tasks such as data preprocessing, feature engineering, model selection, and hyperparameter tuning.
GenAI
Generative AI models use neural networks to identify the patterns and structures within existing information to generate new and original content. Moreover, this data will soon be used enabling entire businesses to generate new data for any purpose.
NLP
Natural language processing will bridge the gap between humans and computers. Furthermore, this technology will enable the users to communicate with technology in their own words using its natural language understanding capabilities.
Ethical AI
Ethical artificial intelligence will fill the trust gap between humans and technology by reinforcing well-defined ethical guidelines regarding fundamental values. For example this will include things like individual rights, security, privacy, and non-discrimination.
AIaaS
AI as a service is a service offered by third-party vendors like Google’s TensorFlow, Amazon SageMaker, and Microsoft AzureML. This enables businesses to integrate AI-powered tools and capabilities into their platforms.
4. Rise of Low-Code and No-Code Development
Developing software applications might be a lengthy process. But what if there was a simpler way to build apps with minimum coding? Low-code development is the right answer.
However, research reveals that businesses of all sizes will adopt low-code development in the future. Experts expect this adoption to go beyond 50% in the coming 10 years.
Low-code and no-code platforms are essential because they enable quick creation and iteration in an industry where continuous innovation is crucial.
5. Increase in Native App Development
With the considerable increase in mobile devices, native app development is more essential than ever. Developers create native apps for a specific platform, making them highly responsive and offering a seamless user experience.
Moreover, a recent study reported that mobile ad spending is expected to surpass $240 billion by 2022. This implies that the necessity of mobile apps is projected to increase in the coming future.
6. Growth in Progressive Web Apps
Progressive Web Apps (PWAs) are a modern approach to web development software development. Allowing users an immersive and app-like experience directly from their web browser, enabling a seamless and engaging interaction.
However, in recent years there has been a surge in PWA adoption, indicating their potential role in the future of web development. According to Google, desktop installations of PWAs have grown 270%, suggesting that they will likely continue to grow in popularity.
7. Emphasis On Cybersecurity
Nowadays cyberattacks are a bigger concern for big businesses. Risk managers view data breaches (24%), ransomware (13%), and business interruption (11%). These stats pose top cybersecurity threats.
Thus, by providing continuous training and updates, you ensure that your staff stays informed about the latest threats and mitigation techniques. Analysts expect the global cybersecurity market to grow to $345.4 billion by 2026, indicating the importance of this technology.
8. Internet of Behaviour Uplifting Digital Word
Personalization is the primary key to the success of any company. So, the greater efficiency your service will have, the more users will follow the approach. This is where IoB comes into practice.
The Internet of Behaviour does not exist without the Internet of Things. The IoT is constantly evolving. The data compiled and shared by devices like BI, Big Data, and CDP offers valuable information about the behaviors, interests, and priorities of its users.
Although IoB has yet to gain mainstream traction, it is predicted that 40% of the worldwide population will have their behaviors tracked.
9. Expansion of Augmented Reality and Virtual Reality
Both augmented reality and virtual reality are proving to be a game-changer in e-commerce, dramatically transforming how companies and consumers interact. In the world, the number of AR and VR market users is projected to reach 3,728.0m users by 2029.
The combination of AR/VR technology creates life in the virtual shopping experience by enabling customers to view products in their environment. Thus resulting in more engagement, confidence, and driving sales.
10. Adoption of DevOps
DevOps is a set of practices that combines software development and IT operations, aiming to minimize the development cycle. It provides a constant delivery of high-quality software. According to a report, the global DevOps market size will expand to $12.85 billion by 2025.
Therefore, more organizations are adopting DevOps models to achieve better productivity and workflow.
Get Maximum Value On Your IT investment with Our Software Development
Summing it Up, software development is continuously evolving and shaping the future of technology. These 10 technology trends offer promising career potential now and for the foreseeable future.
An IT partner like Integrated IT Solutions can provide you with the required support and providence to new services and technologies so that you stand out from the crowd.
