Latest Software Development Trends that are Dominating the Tech Market in 2023–24
The evolving landscape of software development is witnessing a rapid emergence of new technologies. These emerging new technologies are impacting the way people develop and use software. Modern software applications are way faster and safer than ever before.
This race of performance and enhanced cybersecurity has created another layer of competition for software owners. Now, as the competition rises, new trends emerge in parallel. Developers try to use these trends as early as possible to ensure their software turns out to be the leader in their respective fields.
If you have the same strategy, you might want to check out the rest of this blog. Here we are listing down some of the leading software development trends. These trends are dominating the current software ecosystem and are expected to remain influential even in the foreseeable future.
So, without further ado, let’s have a look at these popular software trends!
- Low-code development
Gartner published a report in December 2022 to forecast the popularity of low-code development trends in the tech market around the globe. According to Gartner, 2023 is expected to witness a 19.6% rise in the adoption rate of low-code development compared to 2022. The low-code tech market is projected to grow to reach $26.9 billion by the end of the year.
Low-code’s ability to reduce the requirement of codes is turning out to be well for the popularity of these tools. Some of the popular low-code development tools are Appian, UI Bakery, AppSheet, Retool, Quixy, etc.
2. AI testing
Automated testing or AI testing is another critical trend that has witnessed a rise in the software development market. Usage of AI testing helps developers debug software faster ultimately increasing their productivity.
AI also offers better accuracy and the ability to test the software on more simulated devices. The rise of AI-enabled testing is not slowing down. As per Grand View Research, the global AI testing market is expected to rise at a CAGR of 18.4% between 2023 to 2030.
3. Blockchain
The global blockchain market is expected to rise at an exponential rate. From worth $6.6 billion in 2021, the blockchain market will expectedly cross a global worth of $19 billion by the end of 2024.
The rising need for strong defenses against cyber threats is a major trigger motivating the popularity of blockchain. Another critical functionality of the technology is its ability to deliver good performance.
Blockchain’s ability to process transactions faster helps it increase the speed of the software it is being used on. Blockchain also eliminates the requirement of third parties using additional technologies like smart contracts. Industries like fintech are using this software technology to speed up financial transactions and settlements.
4. Internet of Things (IoT)
IoT is another technology with a major influence on the latest trends in software development. IoT is enabling wireless communication between devices. It is easier to control devices, monitor environments, transfer data, and do much more using IoT.
Software applications powered by IoT are contributing to several industries including healthcare, space exploration, security, etc.
The rising requirements of IoT software are creating a rise in the demands as well. Between 2022 and 2029, the IoT software market is expected to rise at a CAGR of 24.7%. From $346.58 billion in 2022, the market is expected to touch a global value of $1.62 trillion in 2029.
5. Cloud computing
Emerging top software development trends are very much focused on enabling remote synchronization between software and hardware. This creates a rising demand for cloud computing technologies.
A G2 report suggests that by 2025, 85% of companies are going “cloud first” making it one of the most popular new trends in the software development industry of the future.
Cloud computing software or technologies interconnect several systems with each other using servers. These servers are also used to collect digital data and store it on cloud storage systems.
Cloud computing also helps developers build software remotely and deploy them to an expanded target market. Cloud computing services are divided into three major categories: Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS).
6. Big Data
As the name gives it away, big data refers to massive amounts of data. Big data is used for several purposes including training machines, personalizing experiences, and forecasting trends among others.
As for software development companies, big data is helping them build smarter software. In the rising competition among software of different industries, more and more companies are adopting big data. As Exploding Topics suggests, by 2027, the global big data market is projected to generate a $103 billion revenue.
7. Predictive analytics
Predictive analytics is creating a strong impression as one of the latest software development technologies. The technology is capable of recognizing statistics and patterns to forecast possible outcomes. The tech combines statistical modeling, data mining techniques, and machine learning to generate results with higher accuracy.
Industries like fintech are using predictive analytics software to authenticate transactions and settlements. While the healthcare industry is using it to diagnose patients.
8. AR/VR
Augmented reality (AR) and Virtual Reality (VR) are two technologies that have triggered a transformation of the user experience. Industries like e-commerce, entertainment, education, and healthcare among others are adopting AR/VR to deliver smarter user interaction.
AR can blend components of virtual worlds and actual worlds to provide an enhanced user experience. For example, IKEA’s AR feature uses a smartphone camera to scan the environment and provide realistic representations of products that customers can purchase. These representations use 3D and help users identify actual colors and looks of products so they can make a more informed purchase decision.
Virtual Reality (VR) on the other hand offers a more interactive experience with the virtual environment. Users can interact with virtual objects using VR headsets and filter out real-world objects. VR is designed to make users feel a part of the virtual world they are interacting with.
Currently, VR is available on almost all smart devices including smartphones, tablets, desktop computers, and gaming consoles among others making it one of the fastest-emerging trends in technology. According to a Statista report, the technology is expected to grow at a CAGR of 13.72% and touch the market volume of $52.05 billion by 2027.
9. Progressive Web Apps (PWAs)
Progressive Web Apps (PWAs) are known for helping businesses boost their conversion rates and website visits. PWAs keep the characteristics of a website and a mobile app making it easier for them to run across multiple platforms.
PWAs are fast and highly scalable as well. These advantages help developers deploy apps without having to build them separately for each platform. Another reason why PWAs are counted among the top software industry trends is because these software applications are built using popular languages such as HTML, CSS, and JavaScript.
Talents for these languages can easily be found in competitive costs making it easier even for small businesses to afford PWA development.
10. Microservices
The microservice architecture of the software world is expected to grow at a CAGR of 19.6% until 2027. As the Ecosmob report suggests, the microservice market in 2027 is predicted to reach $10.86 billion.
A microservice architecture includes sets of small services that can be deployed independently to support software. Microservice architecture helps developers focus on specific services to build and maintain them.
There are several popular programming languages that support writing the microservice architecture. For example, JavaScript, Java, and Python among others.
11. Superapps
Superapps are rising in numbers across industries. As a Grand View Research report shows, the global super apps market is growing at a CAGR of 27.4% between 2023 to 2030.
Superapps have the ability to replace several apps of different natures. Take Wechat as an example. Wechat is one of the most popular super apps out there. As a Statista report states, the Chinese super app serves over one billion users every day.
Wechat has a set of features designed to tackle several different industries. The app allows texting, making transactions, booking flight tickets, borrowing money, and more. Wechat’s features allow users to remove a plethora of apps from their systems and access required features on this single super app.
From the perspective of developers and business owners superapps is one of those trends in the software industry that reduce the overall costs of development and maintaining apps. Using a single app businesses can boost their ROIs while keeping the budget limited.
Wrapping up
Evolving configurations of devices and customer expectations have been transforming the software industry for a while now. As powerful devices get cheaper and fast internet becomes more accessible, trends in the software industry evolve as well.
However, as of 2023–24, above-mentioned trends are expected to continue their dominance over the software market. If your strategy is to launch a software product that can be a great addition to your brand, using the above list you can come up with a perfect software development strategy.
Above trends are influencing the top custom software development companies and motivating them to build high-quality software. These trends can also be beneficial for aspiring software developers if your plan is to go into a job profile that will trend in the near future.
