The Latest Trends in Enterprise Software Development

Introduction

The software development industry is witnessing rapid shifts. This means other industries will also go through modernization by implementing advanced software solutions.

From integrating AI and Robotic Process Automation (RPA) to low-code and no-code to blockchain to IoT devices, enterprise software development is shaping the future of efficient business processes.

What’s in it for you? Let’s explore here.

What to expect from the top software development company in India in 2024?

With the changing trends every now and then, large enterprises are already looking forward to implementing the latest trends occurring in enterprise software development. No one would want to stay behind when it comes to customer satisfaction and increasing internal productivity for more opportunities.

According to Statista, the market volume of Enterprise software can be expected to be $292 bn in 2024, which may very well reach $376.40bn by the end of 2028.

This will also encourage small-scale businesses to adapt to the changing tides in the software market to stay relevant and scale seamlessly. Hence professional Indian software companies are getting ready to up their game in offering the latest advanced software solutions like AI-integrated, Blockchain-based, and cloud-based solutions.

Latest Trends in Enterprise Software Development

1. AI Adoption Across Industries

Mckinsey has surveyed that almost 67% of organizational institutions around the globe have already integrated AI with some sort of custom software.

“AI is swiftly being integrated into enterprise systems, promising to automate mundane tasks, streamline decision-making, and even predict future trends or customer behaviors, mostly with AI tools based on generative AI.”

AI is revolutionizing business processes in different ways. From automating repetitive tasks to reducing errors, to filtering out crucial data from a heap of datasets — AI will be operating several other functionalities in every industry in the coming years.

How the Healthcare and EdTech industries adopt AI? Here are a few examples-

Healthcare industry

• AI will assist in early diagnosis of diseases by analyzing medical images.
• AI can detect errors in drugs and suggest corrections. AI can also identify drug candidates and predict their effectiveness.
• AI can analyze and interpret patient data, suggest better treatment options, and predict their response to certain medication procedures.

EdTech industry

• AI will personalize the learning process by customizing content according to the student’s adaptive capabilities and the difficulty level of the course material.
• AI-powered bots will solve student’s basic queries anytime, anywhere, even on off days.
• AI will automate the grading process of class assignments.

Robotic process automation (RPA) market size worldwide

2. Popularity of Low-code and No-code development

Though generative AI can help us code more efficiently than ever before, there still remains the chance of having bugs, cluttered code structure, or other issues. This is where Low-code and No-code come into the picture.

“84 percent of businesses are expected to switch to low-code and no-code technologies in the future.”

The popularity of low-code increasing

Low-code and no-code will empower anyone to experiment with innovations in software systems, without the intervention of professional coders. This will further boost creative ideas, and allow users to leverage the solution effortlessly.

3. Cloud-based software

The importance of cloud infrastructure in software development came to the spotlight at the time of COVID-19. With the whole commute system coming to a halt globally at that time, businesses started using cloud computing to empower their employees to work from home.

Enterprise IT spending on traditional and cloud infrastructure

Benefits of Cloud Computing

• Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS) — these cloud-based solutions allow you to skip the software’s application approval process.
• You can easily store huge datasets.
• You get service availability 24/7.
• Now there are SaaS offerings for every internal department that you can sign up with your email.

Employees and employers now easily leverage cloud-based platforms for sharing resources over the internet in remote work scenarios.

4. Growing IoT Trends

Statista had reported that the demand for IoT devices was expected to reach 15.9 billion in 2023 and it will cross 32 billion by 2030.

Benefits of IoT and Software integration in business processes

• This will boost data collection and data transfer capabilities.
• Real-time data collection empowers operations teams to act based on that collected updated data, helping in better decision-making in resource allocation.
• Huge data collected by IoT devices will be analyzed by enterprise software, leading to detailed insights for better decision-making.
• It will also help in predicting required, effective inventory management, remote resources monitoring, and supply-chain management.

IoT’s Impact on Healthcare

• Monitoring patients remotely using wearables and sensors.
• Predicting patient’s health conditions, thereby timely treatment of an underlying critical illness.
• The precision of robotics in critical surgeries.

Learn more about emerging IoT technologies that will disrupt conventional processes in many industries.

5. Integrating Blockchain with software development

Gartner predicts that almost 20% of enterprise companies will be integrating Blockchain technology with custom enterprise software by 2025.

Benefits of Blockchain with Software in Business Processes

• Blockchain’s decentralized nature offers a secure environment. Each transaction or exchange of data within a business process gets recorded transparently.
• Smart contracts can run automatically as predefined programs. A software company in Delhi can leverage this process to make their applications more effective.
• Decentralized software applications run smoothly as it is not dependent on any remote central server.

Some other popular trends in the Enterprise Software market

• Native and progressive applications
• AR/VR
• Big Data
• DevOps integration

FAQs

1. What is the latest trend in the software development industry?

Custom software development industry is dynamic in nature. To cater to the needs of the consumers there emerges different technologies in the software market. Technologies such as AR/VR, cloud computing, Blockchain, DevOps, generative AI, IoT advancements, and more are gaining popularity over time.

2. What’s the most important trend that defines the enterprise software services market?

The most crucial and important trend that is defining the software market currently is AI integration to make tasks automated and smarter. With each trend emerging to shape the software industry more advanced and helpful for users, automation will be complementing every other tech integration in the future as well.

3. What is the booming technology in the software industry?

There is not a single technology booming in the software market recently, but a range of advanced technologies. From progressive web applications, to optimizing software for AI automation to using low-code/no-code features, to leveraging Blockchain technology and IoT devices, to AR/VR, to DevOps and Big Data, all the advanced programs are reshaping the software industry and how businesses utilize technology for faster growth.

Conclusion

Trends in software development just like these will only prepare your brand for achieving more growth and success in the long run. You must be overwhelmed to know what is happening in the software development world and what it holds for your business.

Don’t worry. Your next step should be to choose a reputed top software development company in India to leverage the trends for your future growth.