Trends in software solution development have always seen rapid change, but the pandemic and the rapid evolution of technology have accelerated this process to an unprecedented level. What seems acceptable today may not be in the near future, and companies need to keep up with these rapid changes to remain competitive regardless of their activity area. Here are the most important trends in software development.
The rapid growth of the IT sector
Every company will slowly become a software business. As digital transformation accelerates, the software will dramatically change what companies do, how they do it, and what kind of services they provide for their customers. As a result, software development is becoming a catalyst for many organizations, if not a strategic imperative. Companies that include technology as a central component of their identity have seen the most growth recently. According to the Software Products Global Market Report 2021, the global software industry is expected to reach $536.24 billion by 2022, with the market for offshore software development services growing at 11.7%. The rapid growth trend is expected to continue this year.
A new era in cloud computing
The cloud underpins most new technological disruptions and has proven itself valuable during times of uncertainty with its resiliency, scalability, flexibility, and speed. We can expect a huge transition to cloud technology in countless industries, businesses, or organizations around the world. Global cloud adoption will continue to expand rapidly. Gartner forecasts end-user spending on public cloud services to reach $482 billion in 2022.
Software outsourcing and talent shortage in some countries
Many companies are already finding that they lack the resources to keep up with the industry’s ever-changing needs. Because of the difficulty of finding talented IT specialists in the local market, companies are turning to custom software development companies in other countries to find the right specialists.
According to Evans Data Corporation Data’s Global Developer Population and Demographic Study, there are 26.9 million software developers worldwide, which is expected to grow to 27.7 million in 2023 and 28.7 million in 2024. The USA is taking the leading position by the number of software developers reaching 4,3 million. There are predicted to be some leadership shake-ups at a country level by 2024 as India overtakes the US as the largest developer population center, Brazil displaces Japan in the fifth spot, and the UK surpasses Germany in the 7th spot.
A boom in the e-commerce software development market
While most companies were facing tough economic times in 2021, the e-commerce market has peaked thanks to the COVID-19 pandemic. Many companies turned to online retail and delivery services because it was the only way to shop during the lockdown. E-commerce applications have already seen a big improvement and a significant boost to business process automation during the pandemic. Companies will continue implementing digital e-commerce solutions to become more attractive to customers.
More Internet of Things (IoT) solutions
With the proliferation of smart devices, everything will become part of the IoT. The opportunities offered by IoT for businesses are significant: predictive equipment and facility maintenance, real-time vehicle tracking, patient monitoring, more efficient property security, smart energy consumption, and more. This technology is best represented in industries such as healthcare, logistics, public sector, hospitality, manufacturing, etc. Interest in these technologies shows no signs of warning and is one of the most visible trends in the software development market.
New strategies in cyber security
As more and more processes depend on technology, the risk of vulnerability increases. Companies will need to take cyber security very seriously, as the cost of attacks is expected to rise dramatically in the coming years. Cyber attackers are operating with increasingly sophisticated technology, and traditional measures are no longer enough to protect companies from ransomware attacks. As a result, new strategies and serious investments are needed to update systems and anticipate this threat.
In the following months, many companies will likely feel the effects of cyber-attacks caused by a lack of strong and well-implemented security measures, especially when we talk about organizations where a large proportion of employees work from home. Strict protocols and scrupulous software vendors offering impenetrable services and products will be the key to fighting these challenges.
Continued growth in Artificial Intelligence (AI)
AI is another technology that has seen massive adoption and rapid growth over the past decade. AI will continue to gain more funding and innovation in 2022 and beyond. The big challenge in the field is the creation of the so-called “General Intelligence,” where AI can be as smart (or smarter) than humans. We are still far from reaching “General Intelligence,” and AI will be used more in “Narrow Artificial Intelligence,” whereby AI agents will assist humans in a specific (niche) area. In 2022, we will see more Narrow AI in non-critical use areas where AI agents will assist people.
For two years now, companies have been struggling to meet a double challenge: the economic effects of the pandemic and the unprecedented acceleration of digitization and deployment of software solutions. Same as last year, in 2022, agility will be the key to success in this period of unprecedented business challenges. To remain relevant in the market, regardless of the nature of the business, software developers will need to adapt, react quickly and learn on the fly.
