May The Future Be With You: Top Software Development Trends of 2024

CEO Message

Everyone feels differently every year at this time, some feel like it was a great year and every day felt like a holiday, and others felt like they were trapped in quicksand sinking every day. No matter what 2023 was like for you, like New Years of the past - this New Year should be a time to clean out the old and get ready for the new!

For the software industry, 2023 was a year of change, the economies of the world were trying to avoid recessions due to inflation and rising interest rates, technology funding slowed, and the tech and development industry saw many lay-offs. At the same time, AI was advancing and the demand for certain types of development grew.

In the ever-evolving landscape of software development, staying ahead of the curve is imperative for success. As we delve into 2024, the industry is witnessing a confluence of cutting-edge technologies that promise to redefine the way we create, deploy, and interact with software.

While 2023 was a challenging year for many development companies, we are certain 2024 will be a year of great change and are optimistic that businesses will still need to invest and grow with new technologies.

Industry Overview: Unprecedented Growth and Technological Shifts

Enterprise software expenses are on an unprecedented upward trajectory, reaching $880 billion, and the forecast for 2024 suggests sustained growth. A significant trend shaping the industry is the move towards cloud-based solutions, notably the surge in software-as-a-service (SaaS), constituting one-third of the overall software market. Microsoft continues to lead among software giants, closely followed by IBM and Oracle. Additionally, the integration of artificial intelligence (AI) is gaining prominence, with advanced language models such as ChatGPT and Bard pushing the boundaries of innovation.

Small and Medium Size Businesses (SMB’s) are still at the core of the development industry, and although they are overshadowed by large Enterprise companies - they are a major driver of software development. Since they are able to move faster, and choose to take more technology risks in order to get ahead of their Enterprise competitors, SMB’s are a real drive of technology acceptance and use. It is what technologies SMB’s and their development partners use that can really drive the growth of a technology.

It is from these viewpoints that we look to the future and see the following development technologies and trends driving development in 2024:

1. The Big Data Industry Keeps on Developing: Unlocking Insights at Unprecedented Speeds

The global Big Data market is expected to reach $250 billion by 2025, driven by trends such as augmented analytics and in-memory computation. Augmented analytics, incorporating machine learning and AI, streamlines data preparation, while in-memory computation enables real-time processing at speeds over 100 times faster than existing solutions.

2. Internet of Things (IoT): Pervasive Integration and Expansion

The IoT landscape is expanding rapidly, with a projected 65 billion devices worldwide by 2025. Beyond traditional applications, IoT is set to revolutionize healthcare and remote work with the integration of blockchain technologies, mixed reality, and augmented reality. The COVID-19 pandemic has accelerated the adoption of digital and remote healthcare, with IoT-enabled devices playing a crucial role.

3. ChatGPT Adoption in Programming: Revolutionizing Development Processes

ChatGPT, hailed as the fastest-growing app of all time, has captivated the tech community with its multifaceted capabilities. While acquiring a million users in just five days, it has emerged as a trendsetter in the software industry. Beyond streamlining business processes, ChatGPT showcases its prowess in code creation, complex calculations, and brainstorming. Though not a standalone solution for entire application development, it significantly contributes to streamlining various stages of the process, offering efficiency and time savings.

4. Leveraging Low-Code Development: Accelerating Innovation with Minimal Coding

Low-code development platforms are gaining traction, emerging as a focal point for startups aiming at cost optimization. Projections indicate that around 65% of app development projects will utilize low-code development by 2024, with the global market set to reach $65 billion by 2027 and $187 billion by 2030. While enhancing productivity and speed, low-code approaches may face limitations in custom coding and potential security vulnerabilities, necessitating careful consideration.

5. Artificial Intelligence Continues to Rise: Transforming Customer Experiences

Artificial Intelligence remains at the forefront, ushering in new trends such as computer vision applications for public space monitoring, predictive analytics for customer identification, and the widespread adoption of Neuro-linguistic programming (NLP) and automated speech recognition (ASR) in customer centers. Robotics, powered by AI, is becoming integral in automating rule-based business logic processes across various industries.

6. Cybersecurity: A Paramount Concern in the Digital Landscape

As cyber threats become increasingly sophisticated, cybersecurity has become a top priority for businesses. The transition to remote work during the COVID-19 pandemic has heightened the risk of breaches. Anticipated trends include an uptick in cloud breaches, increased focus on 5G security, a growing market for cyber insurance, and a shift towards proactive security measures and constant testing.

7. Progressive Web Applications (PWAs): The Next Evolution in User Experience

PWAs are emerging as the next big thing in application development, offering faster and lighter alternatives to traditional apps. Their ability to operate offline, automatic updates, and cost-effectiveness make them a preferred choice. Major players like Forbes, Starbucks, Pinterest, and The Washington Post are already reaping the benefits, reporting increased user engagement and cost savings.

8. Java and JVM Remain Software Development Hits: Ensuring Stability and Versatility

Java, a stalwart in software development since the mid-'90s, continues to dominate the scene with its "Write once, run everywhere" philosophy. Renowned for high security, stability, and wide usage in Android app development, Java remains a preferred choice for enterprises. The Java Virtual Machine (JVM) further enhances its platform independence, making it a top trend to watch.

9. Deep Learning with TensorFlow: Continuing Dominance in ML

TensorFlow remains the go-to framework for machine learning, despite the emergence of competing technologies. With continuous innovation, TensorFlow remains popular among developers, with predictions indicating its sustained dominance in 2024 and beyond. Its adaptability to mobile and web platforms, combined with end-to-end solutions like TensorFlow Extended, solidifies its position in the machine learning landscape.

10. Python Takes the Lead: The Language of Choice for Developers

Python has surpassed JavaScript in popularity, boasting a growth rate of 19% and claiming the top spot in the PYPL index. Known for its simplicity and versatility, Python has become the most-wanted language among developers, winning the TIOBE Programming Language of the Year multiple times. Its machine-learning capabilities and extensive library support make it a cornerstone in web and desktop app development.

Embrace Modern Software Technologies with the Right Development Company: A Call to Action

The future of software development promises a plethora of opportunities for businesses of all scales. At ScreamingBox, we are dedicated to building web and mobile solutions, ensuring quality assessment, and delivering innovative product designs. Partner with us to implement the latest software development technologies and propel your business to new heights. The era of science fiction has transitioned into reality, and we are here to help you navigate and thrive in this dynamic landscape.