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  • Enterprise Software Development- Trends, Challenges, and Opportunities

    Published: Apr 25, 2023  |   | 
    Enterprise Software Development- Trends, Challenges, and Opportunities

    Enterprises, irrespective of their sizes and business models, face tremendous pressure in the form of changing customer requirements, increasing competition, and even shrinking economies. Here, evolving technology lends a helping hand to modern enterprises and assists them to thrive amid these global challenges. Enterprise software development advances in line with evolving technology and embraces new trends to meet complex business needs.

    During and after the pandemic age, the enterprise software development domain has recorded significant growth. It is mainly because of the increasing demand for customized software across different industry sectors. It is expected that the global enterprise software development market will expand at a CAGR of 11.5% between the period of 2022 to 2030.

    In this article, we are going to dig deep into the key enterprise software development trends. We will also discuss the way these trends will pose challenges and create opportunities for developers and entrepreneurs alike. Let’s understand the concept of enterprise software development before looking at the key trends.

    Enterprise Software Development

    It refers to a process of making unique software that can solve specific and complex business problems or streamline the process. Every enterprise software development process is individual in a way that addresses the unique requirements of diverse businesses. As technology advances, we see different trends keep on including in this process.

    All its trends are aimed at increasing flexibility, improving data management, and implementing process management for higher efficiency.

    Major Enterprise Software Development Trends for 2023 (and beyond!)

    Here are the key trends of enterprise software development that are set to dominate in 2023 and beyond.

    Artificial Intelligence (AI)

    Companies prefer to add features based on artificial intelligence (AI) in their customized software. This integration enables enterprises to reach the next level of innovation. Such smart, enterprise-level applications can assist employees to get access to crucial corporate data as and when necessary for improving the sales process and enhancing customer services. Also, AI-powered software can give a better and more personalized user experience to employees and customers alike. AI will emerge as one of the biggest software development trends.

    Machine Learning

    The concept of ML (Machine Learning) is designed to consolidate data and utilize it for streamlining various operations. It also supports employees in becoming proficient. When ML is integrated into enterprise software, it can quickly analyze large datasets and learn various requirements or preferences of employees. Managers can make informed decisions based on the analytical data provided by ML and help their employees save time and increase productivity. Machine learning can also monitor the tasks of every employee in the company.

    Cloud Computing

    As compared to traditional on-premise applications, cloud-driven apps offer more benefits. Cost reduction, anytime data access, and high scalability are some of the apparent benefits of cloud-based software. Enterprise apps integrated with the cloud concept can provide a significant advantage for various processes. Simply put, this trend can bring more agility in business operations at relatively low costs, and therefore, it is here to stay. It is important to see how other trends can be incorporated into cloud-based enterprise software.

    Blockchain

    When it comes to ensuring the security of sensitive information while handling massive databases. Blockchain technology enables users to store information on a single server thereby reducing operational costs. Users can perform actions faster by eliminating middlemen in blockchain-dominated processes. The BFSI sector can leverage the benefit of this technology by including the blockchain-powered feature in customized software. Retail, eCommerce, real estate, and other sectors will also use this concept in the software development process.

    DevOps

    Though it is not a new trend, recently it has gained ground swiftly in the application development domain. The most important trend in DevOps is containerization which has come into the limelight in 2023. Containerization refers to developing apps into separate, isolated user spaces with the same OS. Containerized enterprise apps are highly portable and they can easily run on various systems without refactoring. As per the Capital One survey, 86% of enterprise IT leaders think of increasing container utilization over the period.

    IoT

    IoT-driven devices are increasing in various sectors. This trend gives a rise to IoT application development. Such apps can enable companies to make data-driven decisions. Globally, enterprise applications need to become more efficient to handle the IoT network. Companies can utilize such apps to get relevant data on a 24/7 basis through connected devices and make insightful decisions. As the concept of IIoT will become more popular in the corporate world, we will witness growth in IoT application development services.

    Low-Code Development

    There is no exaggeration in mentioning that low-code development is capable of becoming the future of enterprise software development. This trend has gained significant traction in the year 2023 and it is growing with a CAGR of over 26 percent. As the demand for enterprise-grade software keeps on increasing, chances are high that the low-code concept will play a bigger role in various development projects. Low-code platforms are easy-to-build and assist developers to deal with backlogs by boosting the speed of software development.

    Other noteworthy trends include voice-driven software, augmented reality, and microservices. All these trends and cutting-edge tools can take enterprise software development to a new level.

    Challenges and Opportunities for Developers and Businesses

    Talking about the challenges the enterprise application development company has to address, we can mention the following big challenges.

    • Frequent Changes

    Frequent changes in the business needs of the client remain one of the biggest challenges for enterprise software developers.

    • Security Violations

    The app development process needs to follow standard procedures to maintain the security of the client’s corporate data and other important information.

    • Third-party Integrations

    Enterprise application development services have to face many challenges while integrating third-party features and functionality into the custom software.

    • Technological Advancements

    Today’s new technology may become obsolete tomorrow. Such a rapid and sudden change in technological trends poses a big challenge in the way of making advanced software.

    • Data-related Concerns

    These concerns include data storage and secure access-related concerns. An enterprise software development company has to address these concerns proactively.

    However, enterprise software development services can open the doors of new opportunities for entrepreneurs. Custom software can simplify business processes and reduce time significantly. Also, it can give enterprises the necessary flexibility and scalability to grow their businesses. Entrepreneurs can grab new opportunities and diversify their business models with the help of seamlessly performing enterprise software.

    Enterprise Software Development CTA - Silver Touch Technologies

    Conclusion

    We are a renowned enterprise software development company. We have developed many enterprise-level solutions for global companies ranging from startups to Fortune 500 enterprises. Our in-house team of dedicated software developers can integrate the advancements of technologies so that you can get enterprise-level software with desired features.

    Do you want to know more about our services? Simply drop us a line at info@silvertouch.com and our experienced business consultant will get back to you soon.

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