Technologies are dramatically improving the quality of human life. Software is already emerging from each sector, and it will change life as we know it in the upcoming years. It will change a lot in the future. Software engineering is expected to be faster and will be proactive.
‘The best way to predict the future is to create it.’ – Abraham Lincoln
Marc Andreessen is right. Software is eating the world. The software development market is growing at a compound annual growth rate (CAGR) of 4%. At this pace software engineering is literally driven by Moore’s law. It is famed for its innovative and swiftly moving nature. Every other year we get to see new languages, software architecture, methodologies, containers, etc.
The great pandemic of our generation has changed the world forever. For at least a decade, it is most probably the biggest ignitor and disruptor of digital transformation. The number of software engineers in the market is expected to grow by 24%, much faster than any other occupation. In 2019, there were around 4,2 million software developers in just the US and this number is expected to reach 45 million by 2030. On average, the software developing industry is growing three times faster than any other industry.
In 2019, there were around 4,2 million software developers in just the US and this number is expected to reach 45 million by 2030. On average, the software developing industry is growing three times faster than any other industry.
The future of software engineering has a lot of surprises to unfold. If you are looking for a software development company, we’ve got you covered with a variety of choices from the top software development companies.
Past trends in Software Engineering
Over the last few years, software engineering has been increasingly recognized and it is imperative to demonstrate the value of software engineering methods in real-world environments. Here is how the software development process has evolved over the decades:
Present day Software Engineering trends
Today, the software industry is the most dynamic industry. Although the process of software development feels a lot better than it did a generation ago, it is currently facing a disruptive change. The pandemic has definitely skyrocketed the entire digital sector. Currently, the global software industry is valued at approx—$ 500 billion.
The increasingly rapid pace of changing requirements to satisfy market needs in software engineering is noteworthy. Also, to be within the framework of existing and changing norms and standards is challenging and leads to an increasing need for rapid development and adaptability.
Future trends in Software Engineering
The future influences the present just as much as the past. Today, the dependence on quality software in all areas of life makes software engineering an essential discipline. The future of software development is entirely open and we are writing it from moment to moment. Here are a few trends expected to change the way we live.
Cloud computing is simply the delivery of computing services over the network-the cloud that includes storage, servers, analytics, networks and databases. With cloud computing, you get easy access to technology services. There is no need to buy, host and maintain physical data servers and centers.
Cloud computing has become one of the most advanced and promising ways of storing data. A globally scaled catastrophe like Covid-19 showed that we need cloud computing for upscaling and downscaling. The entire world is going to move towards cloud migration sooner or later. The biggest public cloud provider right now is Amazon.
More than 80% of small to big scale organizations are shifting to the cloud and the number is expected to go beyond 90% by 2024. The number of cloud computing-based corporations will continue to grow. It is also expected that the trend for multi computing and hybrid computing will play a major role in the IT market.
Python-Key programming language
From photographing a black hole to machine learning, data processing and data analysis, Python is used. Because of its convenience and simplicity, Python is one of the most popular programming languages as of now. The buzzing trend is mounting up with more than 14% of all Stack Overflow queries tagged as ‘python’.
It is mainly used for app development, game development, system administration, web development and scientific computing. Python doesn’t have issues like lack of documentation and supporting programming languages or tools. In fact, Python supports different cross platforms such as Oss, Linux, Windows and Mac flawlessly. Along with being simple to use and write code, it is extremely convenient.
Launched in 1991, Python has seen continuous growth, especially in the 21st century. The growth rate of Python was not easy to achieve and now the popularity seems to be unstoppable. In the upcoming times of artificial intelligence and machine learning, Python will have a huge role, and a shining future is ahead for it in the new edge technologies.
It is no secret that quantum computers can process information millions of times faster than traditional computers. Classic computers use bits to store information with just zero or one state. While quantum computers store information in quantum bits known as ‘qubits’, allowing subatomic particles to exist in more than two states simultaneously.
In fields such as material science, agriculture, pharmaceuticals, chemistry and crypto, quantum computing has proved to be a game-changer. The possible applications of quantum computing in the future are optimization, big data analytics, material science and machine learning.
Quantum computers are expected to disrupt current technologies and solve previously unapproachable problems by creating feasible solutions. In 2019 the market of quantum computing was approx—$ 507 million. By 2030, this market is expected to reach $70 billion.
Blockchain is simply a cloud-based system to store information. Due to the successful adaptations and hype of cryptocurrencies like bitcoin, Ethereum, and Dogecoin. Founded in 1991, blockchain acts as an open-source database and an underlying network of cryptocurrencies.
From business minds to crypto enthusiasts, blockchain is a solution to all problems related to intelligent data transfer and security concerns. On a blockchain network, anything of virtual value can be trade, tracked and traced. This reduces costs as well as risks. Primarily blockchain is a decentralized structure and its usage depends upon decentralized technologies in web servers, digital marketing, cryptocurrencies, property records, voting and banking.
As countries have started to experiment with central bank digital currencies (CBDCs), there will be an increased interest in digitalization and tokenization and central banks will expand into retail and wholesale CBDCs. It is expected that adjacent technologies will combine with blockchain to create next-level solutions. As far as technology and marketing benefits are concerned, blockchain is definitely the future.
One of the principal goals of software development is fighting crackers and hackers. As both the hackers and the security providers are constantly coming up with innovative technologies to outsmart each other, the cybersecurity sector is moving faster and faster.
The primary reason for data breaches is human error, but the amalgamation of automation and integrated AI with cybersecurity brings tremendous changes. These hybrid security systems detect new attacks and instantly notify admins of any data leak or information leakage.
With the introduction to 5G, data breaches and software bugs are knocking on the door. This is where cybersecurity enters with effective strategies and agile processes. It is expected that software companies will spend more than ever on security assets in the coming years. The top cybersecurity users will be political and industrial sectors and high-profile data handling companies.
Artificial Intelligence and machine learning
Among all software engineering trends, artificial intelligence and machine learning are the most revolutionary. The potential value of artificial intelligence has grown and played an active role in our lives since the Covid-19 pandemic. The number of AI solutions developed for the IT industry is constantly increasing.
Whether cloud solutions or high complexity projects, AI and ML are expected to play significant roles. Artificial intelligence is considered a considerable growth driver and has brought layers of problem-solving opportunities in businesses.
The future of artificial intelligence is expected to boost robotics, proactive healthcare, disease mapping, intelligent assistance, driving cars, financial investing, travel, chat tools, natural language processing (NLP), marketing and social media monitoring. There are already battles going on among nations about the most powerful AI tools. With this, it will be interesting to see what the future has in store for artificial intelligence.
VR and AR
Virtual reality and augmented reality are among the most awaited trends, especially for gamers. The increasing acceptance and responsiveness of AR and VR are leading us to another dimension of interactivity. It is expected to consolidate and come in two forms: standalone units and tethered systems.
The technological advancements and enhancements brought with virtual reality attract consumers and industrialists, and investors are sensing a bright future. The adoption of AR and VR will lead in domains such as healthcare, retail, media, entertainment, automotive, military, defense, aerospace, and transportation. Among commercial applications, AR-based applications are in the highest demand.
As a result of the increased use of mobile devices and the Internet, virtual and augmented reality growth is most expected in mobile gaming. According to market researchers, VR and AR will be at the center of digitalization and the market will grow exponentially in the years to come. The market revenue is expected to reach $170 billion by 2025, growing at a CAGR of 48% each year.
Platform as a service (PaaS)
PaaS is an amalgamation of web development platforms with an environment in the cloud. As a product is developed, it provides consumers with all necessary tools such as operating systems, middleware, QA, databases, etc. PaaS reduces the significance of distance and allows customers to control the deployed applications.
PaaS is definitely one of the most emerging technologies influencing the entire process structure. With the terror of Covid-19 lurking around, the programming team members can feasibility work remotely by using the platform as a service. It offers comforting opportunities for exchanging messages and distributing duties among the team.
Working remotely has never been easier with PaaS. The global trend of outsourcing teams is just getting started. New features and advances are already knocking on doors and a lot of new functions are yet expected as PaaS is contributing to the decentralized structure of outsourcing teams
Software architecture: Microservices, monoliths, serverless will coexist
Microservice architecture has become a preferred choice in large-scale enterprise applications development. Nevertheless, microservice application design is way more complex than a monolithic application which goes by one size fits all. Microservices require a set of some of the best practices and design patterns.
The software architecture that has gained a lot of popularity in the past couple of years is serverless architecture. With the groundbreaking AWS Lambda service, Amazon has set the tech world in motion. It introduced a service where the developer has just to write the code while the service provider can manage the server. Although criticized by some and hyped by others, software architectures are breaking new tech grounds. It is expected that by the end of 2021, Microservices, Monolith and server-less architecture will coexist, whether it is for small-scale development or large-scale enterprises where SOA was initially used.
Real-time streaming: Flink will be the obvious choice
Real-time streaming is gaining popularity day by day. Enterprises are shifting away from the traditional way of Lambda architecture to the more feasible option of Real-time stream processing frameworks. Although in this case, two types of frameworks exist. First is Spark streaming and the other is Apache Flink, led by a Micro-batched-based platform and low latency stream processing platform.
However, Apache Flink edged out Spark streaming when it comes to handling real-time screening situations such as anomaly detection, fraud detection, Ad-hoc analysis of live data, and rule bases altering. Apache Flink is the apparent solution among Hyper-scale cloud providers as it has unmatched capabilities and power in real-time stream processing.
Rapid application development: Surge in Low code/ No code development
The need for software developers has increased rapidly in the past years, so it has outpaced their availability and created a huge gap in supply and demand. This makes low code/no code (LCNC) programming an essential asset for businesses to proceed with feasibility. It helps to create databases and other applications to support agile operations with no prior development training.
The LCNC initiative has gained momentum in the market, mainly in web development like Bubble. It has also paved its way in other areas such as No-code app development, No-code AI and No-code machine learning. With lots of mergers, acquisitions and innovations in LCNC, it is predicted that it will be one of the hotly anticipated fields in the tech world.
The rise in progressive web apps
Recently, Forbes redesigned their mobile website resulting in a reduced load time from 3 seconds to 12 seconds to now 0.8 seconds. This also resulted in users spending more time on the site with a 43% increase and more ad views with a 20% increase and more content engagement from readers with an increase of 100%. This simply shows the huge benefits of PWAs, especially in user retention and conversion rates.
Expansion of Internet of things
Internet of things demands devices to be innovative. These devices won’t conquer the world as information without processing means nothing. Intelligent devices are just equipped with sensors. These cloud-based applications are used for processing data in two ways- interpretation and transmission.
Almost all devices are connected to the Internet, but we have not tapped on all the features and advantages of this connection so far. The new age goal is to simultaneously unite all smart devices into a network, making them operate altogether. It is expected that the valuable functions of IoT will bring a broad shift in our daily lives.
Big data simply means large chunks of structured, semi-structured and unstructured data that play a critical role in a business. This data is collected by organizations and is analyzed for further analytical insights that contribute to making better business decisions.
It aims at processing and presenting it by using a set of special tools and sets to make it understandable for users. Businesses understand the significance of big data and are taking advantage of it. Big data can work miracles by taking into account the subject knowledge of a particular business and applying it to the proper sphere.
The advancements of big data are in making strategic decisions, increasing revenue growth, increasing the efficiency of the product and attaining accuracy in the respective field. These are leading to incredible growth results.
Industries advancing in software development
Needless to say but no industry is lacking behind in significant tech development these days. Let’s take a look at the top ones:
Retail and eCommerce Industry
Retail software is in high demand because it helps businesses manage core functions such as marketing, inventory, CRM and point of sale (POS) activities. This software is used by small to medium-size businesses to run payroll, manage inventory, determine the price and calculate taxes.
Retail inventory management software manages different aspects of a retailer’s supply chain while retail CRM software supports business processes. Along with retail eCommerce software, retail accounting software comes with promotional pricing and transaction monitoring features. Users include retail outlets, warehouses, and POS stores.
The Healthcare industry is currently at the edge of a technological revolution and is bringing unexpected opportunities. At the same time, the pandemic has made the lives of both doctors and patients much more manageable digitally.
Virtual reality can treat patients with phobias and anxieties to help them build social communication skills. Eye-tracking technologies help in the diagnosis of patients with cognitive or visual impairments. Remote monitoring and wearable devices have created havoc among tech devices. AI chatbots and robotics are constantly coming up with innovative digital healthcare solutions.
Health systems across the globe are making strategic investments in business intelligence analytics for data-driven insights and technological advancements, giving patients and healthcare workers a seamless digital experience. Health-related apps help patients assist in fitness, weight loss, medical reference and management, mental health, health records, and women’s health.
With 7 billion consistent consumers, there is no more extensive industry than food and agriculture on the planet. The upcycling models for waste reduction and packaging of biodegradable materials are now mainstream because of excessive food surplus. Automated machinery integrated with prediction software has been a big help to farmers to track cattle movement, fertility, behavior, crops and soil condition, and current status.
Restaurants and cafes have gone through a revolutionary transformation in response to Covid-19. Almost all food providers were forced to shut down, but with software advancements such as on-demand delivery apps, the food industry has learned to survive the pandemic.
The Internet of things and augmented reality have transformed supply chain planning, automation and management, collaboration between employees, data and process visualization in large warehouses. In the coming future, drone food delivery will not just be in movies or our imagination; it is coming much faster than expected in both FoodTech and AgriTech.
The educational system has always been rooted in the traditional classroom teaching and learning style. Still, now it’s fading away and digital education is taking its place as a worthy successor. Given the times, the digital transformation in the education industry is inevitable.
The integrated vision of education in tech is to host administrative databases online, integrate tools for virtual classroom environments, direct line of communication, social networking tools, and distribute information across educational sites. The use of a learning management system and AR/VR software-infused tools in the classroom is fascinating and revolutionary.
From language learning software, student information systems, educational portals to classroom management software are gearing up to become ubiquitous as the number of solutions and range of capabilities is increasing day by day.
Logistics and Transportation Industry
The industry of transportation and logistics possess great potential and a significant share in the global economy. The efficient and transparent cooperation software models have definitely helped factories and industries achieve timely results.
Logistics and transportation is a vast industry, and software engineering is used for warehouse management systems, transportation management systems, GPS tracking software, customer relationship management (CRM), inventory control, warehouse management, supply chain management and enterprise resource planning software.
With robotics, big data analytics, AI and autonomous vehicles, more and more quality software advancements are coming up and are expected to change how industry representatives work.
Banking and Finance Industry
Software engineering enables secure and instant transactions to deliver Omnichannel experiences driven by intelligent banking. The continuous innovation in FinTech enables the banking sector to capitalize on modern financial architecture and banking.
Technologies at the forefront of finance and banking are driving unprecedented advancements in terms of efficiency and optimization. These technologies include cloud-based software, conversational AI, blockchain for B2B interactions and mobility enabled cardless ATM.
Banks are leveraging mobility software solutions or more precisely mobile apps to break down barriers of access data by emphasizing contactless transactions. Software as a service (SaaS) also advances business processes such as financial accounting, KYC verification, and CRM.
Real Estate Industry
Software engineering services have addressed the industry’s rising technology needs and bridged the gap between real estate businesses and their customers. It has been illuminating pathways for real estate industries, property brokers and agents.
The emerging technological trends in real estate are artificial intelligence, predictive analysis, cloud-based property management software solutions, blockchain for digital payments and AR/VR for virtual tours of real estate assets.
Real estate management software solutions are bound to emerge in multiple listing service(MLS) platforms, real estate transaction standard (RETS) integration, internet data exchange(IDX), and robotic process automation (RPA).
Gaming and Entertainment Industry
Incredible graphics, gesture controls and wearable gaming have taken the gaming world to a whole new level and the future seems even brighter. Gamers are already taking aback by the advances in virtual and augmented reality.
New iterations of gaming consoles like Xbox and Play stations are coming out more often than they used to. The competition is so resolute that by the time one console goes live in the market, it will be time to think about the next generation.
The global mobile app market was at $104 billion in 2016, which grew to $150 billion in 2020. The gaming industry is growing at a tremendous rate of 10.5% every year and is set to grow at a substantial rate in the coming years as well.
Select the Right Vendor to integrate modern Software Technologies
Having looked at the trends and briskly advancing industries, there is no doubt that the future of software engineering is quite promising. Undeniably, advancements in software will change our ordinary accustomed lives for the better of humankind shortly. Now, the big question is how to select the best software development company for your business. Check out the core criteria for selecting a software development company.
Technologies are dramatically improving the quality of human life. Software is already emerging from each sector, and it will change life as we know it in the upcoming years. It will change a lot in the future. Software engineering is expected to be faster than instantaneous and will be proactive. As the famous quote by Abraham Lincoln goes, ‘The best way to predict the future is to create it.’