According to a report by Statista, the global spending on blockchain technology is expected to touch about $15.9 billion by 2023.
Initially, the technology was hardly known but today it is looked upon to lay a huge effect on software development owing to secure information storage that it offers, along with its decentralized nature and complete transparency. Due to its wide application in a range of fields including finance, banking, insurance, healthcare, and more, the blockchain technology is sure to be a mainstay in software development today, and in the years to come.
The network of sensor-laden devices using application programming interfaces (APIs) to exchange data, known as Internet of Things (IoT) is emanating as a significant part in software development, as more and more companies are realizing the need to integrate this technology in their existing operations. There has been a significant growth in the number of IoT devices installed in past few years. The number is expected to grow to 75.4 billion by 2025, according to Finances Online.
Source: Finances Online
This is because of numerous advantages IoT renders to not just the businesses, but also to other sectors. The IoT will grow significantly in the years to come.
Artificial Intelligence (AI) today, stands as a foundation of many technologies, and is being adopted in every field like healthcare, education, sales and marketing to offer personalized assistance.
With numerous benefits that AI offers, the growth of Artificial Intelligence market has been quite steep, and is expected to reach $190.61B by 2025 globally, according to Markets and Markets.
For streamlined automated operations, reduced costs, enhanced security, boosted productivity, better customer service, better performance, and sustenance, the businesses are implementing the technology. The research & development continue to explore various dimensions of this expansive technology.
Mixed Reality (MR) presents the blend of both real and virtual worlds, to develop immersive environment where physical and digital entities co-exist and co-ordinate, to offer immersive experience. As a combination of Augmented Reality and Virtual Reality, MR is laying a huge impact on a range of industries including healthcare, entertainment, construction, architecture, tourism, etc.
As predicted in a study by Juniper Research, the value of MR market will mount to over $43 billion by 2024. About 75% of MR-operated applications will be developed by then.
The much faster network led by innovative technology, with a potential to revolutionize the smartphone experience, offers a robust platform for developers to develop equally robust and smart applications.
The promising technology is soon to lead in the network scenario with better connectivity, user experience and data security.
Statista anticipates, the growth in the number of 5G-enabled connections to 1.9 billion by 2024.
Following the traditional software development process, the developers have been facing huge challenges with the rise of IoT or diversity of the devices, which work on technology different from the one used on the PC, on which the codes are been written.
Just imagine the plight of a developer, who writes the codes all over again for other devices.
Well, with Edge Computing, they don’t need to take extra pains, as now they are provided with a multi-clustered environment to create code and test it in their local system only. After they ensure it’s good to go, they can share it with other devices easily.
Learn about Smart Methods for Value-Driven Software Development.
The easily installable Progressive Web Apps, also referred to as the hybrid of a mobile app and mobile website, offer improved web experience with advanced features.
The brand engagement with PWAs has been reported to be 137% higher, in a Google research.
The best part about PWAs is that they are developed and maintained with single code base, within the budgetary limitations unlike the customary native apps, that can quite be expensive. So PWAs are fast getting trendy in software development.
The evolution in software development is led by the trends in coding language and web framework. Though it majorly depends upon the company, business type, industry profile, yet there is a standard trend that is expected to grow in recent years.
The cybercrime damages will cost the world $6 trillion annually by 2021, as predicted by Cybersecurity Ventures.
The advent of cyberthreats and attacks leading to information leaks and loss by cyber frauds, ransomware, and phishing, calls for the dire need of security establishments by corporates, government bodies, and businesses of all sizes, in their technology environments. As a result, cybersecurity is getting integrated in software development process.
As one of the leading software developing companies in the US, Tarika Technologies develops bespoke custom software solutions, following latest trends, and by implementing high-end technologies, to help businesses achieve absolute efficiency.
Read more about our custom software products, we develop.