The Future of Software Development in 2023 and Beyond

The global custom software development market was valued at $2.79 billion in 2020 and is expected to expand at a CAGR of 24.1% from 2021 to 2028. These stats demonstrate the pace at which the software development market is growing. 

In this article, we will focus on a few trends and predictions that will be dominating the industry in 2023 and beyond. We will also witness that how these tech trends are set to help businesses increase conversions and attract more customers. 

Software Development – Emerging Trends Dominating the Industry in 2023

In this section, we have listed the emerging trends that will determine the future of software development industry. So, without further ado, let’s get started!

AI becomes mainstream

AI chatbot tools like ChatGPT and Midjourney have surprised us with their creative potential. AI has become one of the rapidly emerging technologies in software development. It powers applications like chatbot, text/image recognition software and data filtering. The global AI market size was valued at $136.55 billion in 2022 and is expected to expand at a CAGR of 37.3% from 2023 to 2030. 

Using AI helps businesses to offer a better experience to users, predict their behavior, and increase engagement and sales. It also helps significantly reduce the errors that are often overlooked by human programmers. Businesses can automate their processes and work more efficiently by integrating AI. 

Low code/no-code platforms

Low code and no code platforms offer prebuilt blocks that can be dragged and dropped to assist in rapid development of mobile and web applications. According to a report, 70% of new applications and software built by organizations will use low-code, no-code technologies by 2025, up from less than 25% in 2020. 

With low-code platforms, businesses can quickly roll out their software minimize complexity in development, reduce hiring costs, and maintain a consistent user experience. Some of the popular platforms for low code development include Outsystems, Mendix, and Appian.

New horizons for Big Data analysis

Big Data is another software development trend that has been gaining huge momentum. Companies worldwide have been started utlizing big data to earn huge profits. Google, Meta, and Twitter gather and analyze huge amounts of data to create user behavior patterns. This way, they can provide personalized services, such as selected content, advertising, and more by predicting customers needs. 

The related trend that has appeared just recently is called the Internet of Behavior (IoB). It combines predictive analytics, IoT, and behavorial research. This concept involves gathering data from a variety of smart devices household appliances and wearable gadgets. 

Then this data is combined with various information regarding online activities such as watched content, search history, and more. In short, an IoB platform can create a concise database that summarizes the behavior and preferences of a particular person. It can be used to provide an array of personalized content in the form of ads, articles, videos, and more. 

Increase in cloud computing

As much as Covid-19 was the downfall of many industries, it prompted the rapid acceleration of cloud computing. The outbreak of the pandemic forced companies to adopt remote work culture. The cloud became a perfect tool for companies who needed to shift and adjust to the increased demand of this new normal. It made collaboration a simple process. Working on a cloud-based platform enables team members to view and share information easily and securely.

Companies can also easily access data. Also, they are only required to pay for features that they need. This is also applicable to the data storage space that you need to service your stakeholders and clients. This means you can get exactly as much space as you need, and won’t be charged for any space that you don’t. 

DevSecOps adoption accelerates

The combination of development, security, and operations (DevSecOps) represents a new software development approach that integrates security throughout the entire IT lifecycle. The global DevSecOps market size was valued at $2.79 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 24.1% from 2021 to 2028. 

In the traditional development approach, there was ample amount of time for the code to go through testing and security processes because new software was released every few months or years. But today, new features and codes are being pushed out real quick – so quick that security testing cannot keep up with it. 

The integration of DevSecOps is crucial when it comes to implementing security without slowing down development or releases. Developers can fix security issues in real time. This means you can deploy software as quickly as possible with security in place. Implementing DevSecOps strategy can also help reduce costs 56% more effectively and is 144% more likely to resolve security issues flawlessly. 

Conclusion

Well, this was all about the future of software development market and the technologies that will dominate the industry. From AI to DevSecOps, there are many technologies that will rule the industry and bring a great transformation in terms of revenue and customer satisfaction. In case you want to develop an innovative software by integrating latest technologies, it’s advisable to contact a reputable software development companies in USA or other locations. The experts can guide you through the process and make your software development journey smoother.