If you are a Software aficionado or regularly use software outsourcing companies for your business, you are probably aware that the software development industry is a rapidly-changing domain. Every day new technologies are being released, and they are replacing the older ones. To survive and succeed here, one must keep their eyes and ears ready for any abrupt shift. Keeping tabs on expanding popularity of a technology or framework may allow you to employ it correctly for the development of you or your firm.
For example, According to the American research and consulting firm Grand View Research, the sector will be worth $47.5 billion in 2023 and $679 billion in 2030. It will expand by between 22% and 47% per year. Suppose, you run a conventional online voting platform, for instance. In that case, you must migrate to blockchain since the transparency and operational process of blockchain-based media are luring more and more users away from traditional platforms every day.
In this article, we will discuss the software trends in 2023 that you must not miss out on:
1. Artificial Intelligence
According to new research issued by consulting firm McKinsey & Company, which polled almost 1500 worldwide participants from a variety of sectors, the use of artificial intelligence by businesses has more than quadrupled in the last five years.
The use of AI is increasing in popularity every year. For the whole of January 2023, ChatGPT, for instance, was the dominant online conversation topic. Every day a new AI breakthrough is being unraveled. Human error is being reduced to millimeter levels. The benefits of AI include:
- Humans have a 9-to-5 job. But you can access AI whenever you need it.
- Because of their inherent subjectivity, human operators are prone to prejudice. AI makes judgments that are completely objective.
- Human errors are minimized.
2. Cloud Computing
71% of 742 top IT decision-makers from midmarket and enterprise firms anticipate developing and deploying cloud-native apps in 2023, an 11% increase from 2022, according to a new ESG poll. It eliminates the hassle of physically maintaining these devices and provides enough room for the hardware. Of the many pros of cloud computing, some are:
- As cloud computing is paid for on a pay-as-you-go basis, it enables more scalability and flexibility for your organization.
- It lowers additional spending associated with keeping space and personnel to maintain and run computing resources.
- As the cloud is available from any place on earth, it expands the opportunities for collaboration in the workplace.
Therefore, if you are already counting more money for space and hardware operating workforce, you should quickly hire a software outsourcing company for shifting your system to the cloud.
3. Big Data
The worldwide market for big data is anticipated to expand by 10% per year in 2023. Big data refers to very massive datasets that may be computationally examined to discover patterns, identify trends, and find relationships – particularly in relation to human conduct. Big data can help grow a business in many ways:
- By evaluating voluminous financial data pertaining to a product, it is possible to determine the ideal pricing for boosting sales.
- With the analysis of big data, crucial company development choices may be made based on a more complete picture.
- It may provide a clear perspective of the demographics of your consumer base, allowing you to enhance client loyalty among the appropriate group.
An analysis of the global Web 3.0 blockchain market by Contrive Datum Insights estimates that the industry will grow from its current value of USD 1.36 billion by 2030, a compound annual growth rate (CAGR) of 44.9%. Despite the rapid boom and decline in the crypto market for the last couple of years, blockchain technology is improving and getting accepted by the mass public day by day.
Blockchain technology is used to protect the integrity of networked data. Transparency is one of the benefits of blockchain technology, as any participant may see any record stored on it. It does not answer to any central authority, making it immune to censorship, and no government can use it to enforce its will. Data is encrypted from beginning to finish, making it a safe place for data. Blockchain transactions are fast, secure, and completely decentralized.
According to market research, In 2021, the DevSecOps market was valued at $2.59 billion. With a CAGR of 31.50 percent, this market is anticipated to reach $23,16 billion by 2029. DevOps refers to a set of practices, and technologies that improve a company’s development processes, allowing it to provide new and updated software and services more quickly to customers. DevOps furnishes a software development process in many ways:
- DevOps increases the productivity of a development process and enhances speed.
- DevOps enables developers to manage complex systems efficiently and minimizes risks.
- DevOps improves the degree of collaboration between individuals in a team.
- DevOps increases the overall security of a product as standard security practices are rigorously maintained.
Hence, while hiring an outsourced engineering firm, you must check out whether they maintain DevOps.
6. Low Code/ No Code Development
According to ISG Information Services Group, a worldwide technology research organization, the low-code no-code development platform industry is predicted to triple in the next five years, from its current worth of almost $15 billion. It helps uprising startups in many ways:
- Decreases the cost of development for low-capital businesses.
- Offers a tremendous degree of flexibility as the user does not have to write thousands of lines of code for a small feature change.
- Because the language is object-oriented, it offers the advantages of encapsulation, polymorphism, and inheritance.
8. Internet Of Things
The Internet of things aka IoT is the embedment of hardware with network-connected devices that can simultaneously pass various data at the time of use. The trend of using the Internet of Things is not new and it is still continuing in 2023. With IoT:
- Using RFID tags and sensors to monitor equipment and items enables automated control over many operating areas, such as inventory management, shipment tracking, and fuel and replacement parts management.
- Customer expectations and behavior may be better understood, customer service can be enhanced, and sales can be followed up on more easily with the use of user-specific data.
9. Metaverse and Web 3.0 Sensations
Since Facebook changed its name to Meta in late 2021, the craze about Metaverse has been increasing day by day.
Metaverse is now not a technological challenge but rather a financial one. The technologies required for Metaverse exist, but it is still cannot be used on a large scale as people are not yet ready to adapt to the sudden change of everything around them and shifting to a new reality. But the familiarity of Metaverse is increasing among mass people day by day.
Profits will accrue to the holders of the Metaverse due to the fact that they are paid for aggregating data and enabling the exchange of goods and services among users. Metaverses have the potential to help humanity in a digital age, as they can be used to socialize, get work done, and attend meetings. So, there’s a great chance that Metaverse implementation will reach a milestone this year.
10. Software Development Outsourcing Trend
With time, businesses are getting adapted for hiring off-shore developers or development teams as they can easily find competent developers who can meet their requirements.
83% of developers work remotely at least sometimes, with almost three-quarters (76%) reporting they have either maintained or increased their remote work in the last year. In addition, 62% of those polled stated they conduct all or most of their job from home.
Therefore, hiring a skilled team of developers can be the starter for keeping pace with all 2023 trends. Our recommendation for the best software outsourcing company would be Vivasoft.
The software development industry is all about seizing time, harnessing hype, and grasping people’s and organizations’ requirements. We attempted to provide an outline of this year’s significant software development trends. However, it is ultimately up to the individual to exploit the trends and capitalize on the enthusiasm. Occasionally, trends take a dramatic shift. Therefore, it is essential to monitor the trend and respond appropriately.
If you’re planning to upgrade the existing software or considering building a new one, Vivasoft can provide comprehensive software development services. It will help your business stay competitive and successful. Schedule a meeting for consultation.