Since the advent of the 21st century, the world has seen a rapid advancement in the digital world. The digital revolution has transformed almost all spheres of life including, healthcare, entertainment, industries, manufacture, etc. Every year, new technological trends appear that proved to be powerful business drivers. Today, the global market is spending $3360bn on technology, and considering the current importance of technology, it is fair! This is because every business, today, has a fever to automate everything and grow its IT operations.
With the new technology trends every day, software development has become an integral part of almost every sector nowadays. Software frames various cutting edge gadgets and networks on which we depend on vigorously in our day-to-day life. The last decade was all about machine learning, virtual reality, augmented reality, blockchain & many more.
While the new decade is upon us, software development trends will continue to mature and spread across the industries. Since no one knows what the future holds for tech, there are some technologies that we expect to see in the coming years.
In this article, we have analyzed the latest technologies that will dominate the software industry in 2020 and beyond.
1. The Dominance of Artificial Intelligence
Artificial intelligence has been around for years but the last decade has seen significant growth in AI becoming the foundation of many latest technologies. The global AI market is expected to reach $190bn by the year 2025. Experts predict that artificial intelligence will continue to dominate as more and more industries are adopting it.
This quick growth of AI can be explained by factors like increasing demand for fast and automation technologies, increasing cloud usage, big data amount generation, and wide demand for digital technologies. Various AI applications are already present in the market including chatbots, automated learning algorithms, data analytics, robots, etc.
2. Increasing Popularity of Internet of Things (IoT)
IoT was considered to be a part of the distant future but there has been rapid development in this area in recent years. It is one of the fastest-growing technologies of 2020. By connecting devices, machines such as smart fidgets, smart thermostats, and other devices, IoT is designed to take our comfort to the next level.
In the future, we will connect cars, digital signage, smart home automation, supply chain, energy consumption monitoring. Telecommunication, healthcare, and industries are those sectors that will experience huge annual growth as IoT continues to develop.
3. Blockchain To Revolutionize The Financial Sector
A few years ago, no one even knew what blockchain was and today, the market study report predicts that the blockchain market is projected to grow $60.6bn in 2024. Blockchain is a decentralized DLT technology that allows the transparent transfer of information and money within seconds. It works without any intermediary: data is encrypted, connected with other data entries, and transferred across the network without being stored in the central server.
Today, industries are showing great interest in integrated blockchain solutions to protect their business from counterfeit. US spending on the blockchain is predicted to reach $4.2bn in 2021. Since spending on it is increasing day by day, it will become one of the most dominant trends in the future.
4. Python To Set New Competition
Just like software development trends, computer languages are always growing. The programming languages such as Java and PHP are the most used, however, Python is already set edge out for the top spot. From web development to video game development and ML research, Python is constantly gaining popularity among the world developers.
As AI and ML development is on the rise, Python has got developers’ attention particularly for its use in the ML-powered chatbots. Not only is Python being used for a variety of popular fields, but it’s also the language of machine learning, and is supported by a huge global community.
5. 5G Network – The Next Big Thing
5G has hit the market in 2020, speculated to provide fast and extensive connectivity. Despite various controversies, 5G has got the attention of various software development service providers. It has the potential to revolutionize the software industry and open new doors for developers for distributed technologies.
With faster speed and better connectivity, it offers developers a chance to develop robust applications and work on augmented reality features. According to Statista, the number of 5G connections will increase to 100 million by the years 2021. Overall, this technology will transform the global market by increasing power for network expansion.
6. Edge and Cloud Computing
A decentralized computing infrastructure, which is expected to show drastic growth after the launch of 5G. The highly distributed edge computing is used to upgrade cloud computing in order to remove cybersecurity threats. As cybercrime costs the global market $6 billion each year (greater than the damage caused by natural disasters), cloud computing has gained importance across all the industries due to cybersecurity concerns. Enterprises are likely to start to hyper-scale, shifting from multi-cloud to no-cloud.
Edge computing is expected to be on the rise from 227.8 billion US dollars to 266.4 billion by the end of the year. In the future, we will see this technology growing at an even more accelerated rate.
7. TensorFlow 2.0 Will Edge Out Further
Google and Facebook have leadership positions in neural networks and deep learning. Google’s TensorFlow 2.0 is an easy-to-use platform that is both flexible and powerful. It supports deployment to any platform and integrates large scale Al and deep learning models. TensorFlow has an extensive ecosystem of tools for researchers, developers, and enterprises who want to develop Ml-powered applications. With easy model building with Keras, TensorFlow 2.0 will spearhead the market in the future.
The technological world is rapidly growing, changing the way we do live and do business. With the software industry on the move, there will be powerful systems to solve different business challenges. In the future, we will see the development and adoption of the technologies: 5G, IoT platforms, blockchain-based systems, AI-enabled programs, web & mobile apps, and many more. Software development platforms like Mobylogix can help you build software while staying on top of the latest trends.