5 Future Trends In Custom Software Development
Custom software development has greatly transformed the way businesses used to function through increased digitization. Software development is no more about making predefined software and thrusting them to the clients. It has come a long way from it.
Today the core focus of software development is to improve customer experiences at all levels of business activity be it transactional or operational in nature. There are some new technologies and trends that developers can leverage to build digital solutions.
New development platforms like cross-platform app development, Machine Learning, Blockchain has increasingly been embraced by various players across industries. For example, Blockchain alone is predicted to bring $2312 million investment globally by 2021 as per Statista.
In a situation like this, it is imperative to look at the five custom software development trends that have kept developers on the edge.
This rapidly emerging technology has been quickly embraced by the companies, especially in the finance industry owing to the popularity of cryptocurrencies like Bitcoin. According to Statista, the financial and the manufacturing sector are the biggest investor of Blockchain with a market share of 60.5 and 17.6% respectively.
Why blockchain in custom software development?
Well, technically blockchain is a digital, distributed transaction ledger that is stored and maintained on multiple systems belonging to multiple entities sharing identical information. Information stored in a blockchain cannot be deleted ever which serves as a source to verify the accuracy of the record of every transaction made within the ledger.
Blockchain has made possible multiple large scale transactions in very less time and has removed the existence of intermediaries that were expensive. This eventually reduces costs.
There are very substantial reasons why it is preferred by developers in the field of custom software development. For instance, the foundations for identity, privacy, and processing that is provided by the Hyperledger Fabric enables developers to build robust components on the fabric.
The technology has been extremely successful in the field of digital currency and payments with the most successful cryptocurrencies in the world.
2. Artificial Intelligence and Machine Learning
Artificial Intelligence is the most go after custom software development trend for business ventures who wants to harness digital transformation as a part of their overall business growth strategy. Many software development companies use AI and ML to build software that enhances user experience.
With AI and ML (Machine Learning) business organizations can implement the programs and processes that are necessary to transform and automate various operations on a regular basis.
For example including chatbot, big data, fraud detection, and predictive analysis are some of the practical applications of ML development that have improved business processes largely along with enhancing the customer service experience.
3. Cloud is Re-evolving
It is, in fact, a surprising fact that 73% of the world’s businesses have at least one application or infrastructure element based on cloud technology?
As much as 42% of organizations are using a multi-cloud strategy that results in two benefits:
59% increased cloud options.
Chances of recovery from any data loss or disaster increases by 40 percent.
The evolution of the cloud has been such that, all the present-day new technologies like blockchain, VR and IOT all of which function as a cloud-based service.
The cloud infrastructure works as a deployment storage space wherein the limitations posed by your local storage devices are eliminated by having everything on an exclusive cloud server.
For instance; a supplier of infrastructure as a service (IaaS), provides you with equipment installed in their data centers on a utility computing basis. You pay as per the usage of resources consumed by you.
Cloud-based services are predicted to create new opportunities for businesses and developers simultaneously.
In the future, the following services will use cloud technology:
Supply chain management
Distribution of resources
4. Open Source Technology
It's like an evergreen technology that has just picked up the momentum in recent times. Guess what! Today there are less than 3% of companies who do not use open source software for their enterprise technology stack.
Right from the start, developers used to see open source largely as the playground where they could build any applications from scratch.
Today some of the best-known tech giants of the world like Google and Facebook are using open-source software for their most critical missions.
If you make an enumeration of open source-based applications, you will find names like Java, PHP, Angular, React, Hadoop, etc and these power some of the biggest corporations in the world of today.
So if your technological requirements are frequent then your developer must have open source as his priority.
5. Immersive Technology
We all are familiar with Augmented Reality (AR), Mixed Reality (MR) and Virtual Reality (VR) as these technologies have been in use for the last three decades.
These technologies were so far limited to military usage due to various complexities. However, in recent years these technologies have been extensively in use in the consumer market in the form of virtual reality games, holograms with augmented reality and much more.
Tech giants such as Snapchat, Facebook, Wayfair have adopted these technologies for the use of consumers with smartphones.
VR, for example, is predicted to reach a value of GBP 801 million by 2021 in the UK media industry alone.
The whole concept of “online shopping,” received a new meaning with immersive technology. Online stores are using apps based on AR technology that enables customers to test the product before purchasing.
So with a whole range of applications from advertising, e-commerce, healthcare, and real estate immersive technology is something that mobile and web app developers should be paying attention to.
These evolving software technologies provide a clear idea about the ongoing development that takes place in the information technology industry. It is essentially vital for software development companies to match the pace of these trending software technologies to outshine their competitors.
Hardik Shah works as a Tech Consultant at Simform, a leading custom software development company. He leads large scale mobility programs covering platforms, solutions, governance, standardization and best practices.View Hardik Shah`s profile for more