While your fellow technology leaders are enabling business processes with modern customized software development, how are you ensuring that your business processes function efficiently?
Unlike leaders who fail to understand the worth of adopting to change, how are you enabling your business to cope with the change?
With the emerging technology trends, how are you ensuring that you are not creating a leeway for your competitors to outplay you?
Bad news – With limited susceptibility to change, your technology will soon be obsolete!
Good news – A slight adjustment in your focus on technological adoptions can make you ace the game!
Still, don’t find it worth taking action?
The global customized software development market is expected to reach USD 146.18 billion by 2023 – According to Grand View Research.
If not now, then when are you planning to take your business to the next level?
Why is “NOW” the right time to approach customized software development? – you may ask.
Because, over the past decade, open-source technologies have reduced software costs for large companies.
Modern innovation, and fast technologies have enabled businesses to create experiences that can create impact and grow beyond the bounds.
Businesses approaching custom software development companies and service providers are increasing day by day. No matter what shape and size of the business, leaders are willing to ride the tide of digital transformation and change the dynamics of business functioning.
What is the main focus of customized application development? – you may ask.
Today the main focus of customized application development is all about enhancing the business and customer experiences across all levels for businesses.
In this new realm, custom software development companies are doing their best to facilitate these new-age software development requirements.
At the same time, new trends in custom software development have emerged as tools for many specific industries.
Let’s understand how these emerging technologies are going to change the way custom software development has been looked at.
Let’s dive in!
What is Custom Software Solution?
Simply put – Custom Software is a business solution based on a business’s personalized use cases.
In comparison with off-the-shelf solutions which are built on generic business needs, custom software development offers an edge as it is tailored to specific business needs.
Custom Software is different, because:
- Detailed requirement gathering is done to identify and analyze unique business processes
- Feasibility & scalability estimations are made prior to developing customized software. This ensures that the solution solves intricate business problems & can be scaled to the desired level.
- As the name custom software development suggests, customizations are an inherent part of the process. You can make changes in the features or functionalities as per the changing business needs.
- When you choose a reliable custom software development company as a technology partner, you have active support, 365 x 24 x 7.
Custom software development is often opted for in two scenarios:
When you have a specific set of business requirements that demand a customized software solution
When you already have a customized solution that needs to be upgraded to cope with the changing business needs.
Adopting the change has become inevitable today if you want to be in business.
If you are a business leader who is looking to build to upgrade a customized software solution that supports modern-day solutions, here are five top technologies that you should definitely consider for custom software development.
If there is one technology that can change the whole industry, it will be blockchain. With the release of Bitcoin and the hype and deception projects that have emerged in recent years, blockchain is experiencing stagnation in its growth cycle.
Open-source blockchain looks like the top curve of blockchain technology and is considered one of the next major custom software development trends in 2023.
How is Blockchain associated with custom software development? – you may ask.
Let us break it down for you – the key feature that Blockchain offers is data security.
May it be safeguarding confidential financial information or corporate sales records, Blockchain’s ability to protect data can be vouched for, under any circumstances.
Especially with the increasing data thefts and cyberattacks, banking, and finance are the major domains that are under bigger threats.
Customized software development with Blockchain technology can reinstate peace of mind for technology leaders functioning in the banking and finance sector.
To be true, security is no more limited to finance and banking domains. Every industry today is under immense threat of cyber attacks and data thefts.
And, Blockchain can be leveraged with its ever-compassing security features to establish core security standards.
2. Artificial Intelligence (AI) and Machine Learning (ML)
Artificial Intelligence (AI) has already become an essential element for all the technology platforms that people all over the world use today.
Nothing can beat Artificial Intelligence and Machine Learning in creating compelling user interfaces, considering the ever-changing business needs.
How are Artificial Intelligence and Machine Learning associated with customized software development? – you may ask.
Artificial Intelligence is not new to anyone using technology today.
And, you don’t need us to explain how intelligently this technology understands user behavior, unravel the trends and patterns in the workflows and articulate a solution out of these data points.
Machine Learning is on the rise and will continue to mature over the period of time. This technology is empowering the software systems to be capable of learning based on the inputs given.
The aim is to make machines smarter enough to perform tasks that were supposed to be performed by humans.
Artificial Intelligence has many sub-clusters, including machine control, machine learning, deep learning, and neural networks, which have grown rapidly in just 5 years.
Circling back to custom software development – the inclusion of Artificial Intelligence and Machine Learning on the technology stack will unravel many unseen process-level and service-level challenges.
AI & ML together can bring you insights into the repetitive trends and patterns in the workflow that are weakening the process.
AI & ML can bring you insights into manual errors with mundane tasks that can be automated.
AI & ML can bring you just the right insights into your customer-facing departments, to improvise and automate customer service.
To be true, this is just the beginning.
Having a custom software development company with expertise in AI and ML to build a customized software solution, can open up a plethora of business avenues for you.
3. Cloud Computing
Cloud technology has evolved to meet the growing needs of companies across all industries. With the exception of a few service industries, cloud-based applications were developed throughout the year.
Whether it’s a corporate meeting, business operations, or IT access, everything possible in the office has been moved to the cloud. The demand for the cloud was limited to the scaling business until the market collapsed negatively.
Custom software development has evolved tremendously with cloud computing. It covers everything right from infrastructure and platforms to the software.
Businesses are implementing different cloud computing models (IaaS, PaaS, and SaaS) to improve development, testing, storage, analytics, and even disaster recovery.
4. Open-Source Technology
It’s like a timeless technology that has gained a lot of momentum in today’s world.
Reusability, flexibility, and collaboration – are some common traits that define open-source technology to its best nature.
With open-source technology, the developer’s community has got the access pass for a centralized hub of predefined codes, libraries, and frameworks.
The inclusion of open-source technology for customized software development not only saves costs but also saves time and energy, which can be utilized on other core business aspects.
How is open-source technology associated with customized software development? – you may ask.
Just imagine, you are building a custom software solution for your business and you have limited time at hand to get the initiative through.
Open-source technology is something that a custom software development company will suggest to speed up the initiative.
With open access to pre-established codes and a proven framework, you can achieve faster time-to-market and save IT budgets that can be utilized on other important business aspects.
5. Big Data
In today’s business scenario, data is a non-negotiable super-power.
Businesses globally are building data cultures and are promoting data-driven strategies to streamline their routine operations.
The global big data analytics sector is growing at a rate that has never been seen before.
The big data and analytics market was valued at USD 82.99 billion in 2021 and is expected to reach USD 146.71 billion by 2027 at a CAGR of 9.96% – According to Research and Markets Report
Research and market assessments have shown that the big data analytics sector is growing at a never-before-seen rate. The market for big data and analytics was valued at USD 82.99 billion in 2021; it is anticipated to soar to USD 146.71 billion by 2027 with a CAGR of 9.96%.
How is big data associated with custom software development? – you may ask.
With that growth rate and increasing influence on enterprises, the question shouldn’t be “How is big data associated with custom software development” but “How to leverage big data with custom software development?”
Especially, for enterprises that have multiple teams, and departments and have data scattered over multiple data sources, big data can be a game-changer.
Forecasting and foresight are something that big data brings to your business when paired with customized software development.
Having big data to back you up, it is easier to navigate through the ever-changing odds of the competitive business environment.
This inclusion sets you up for revolutionizing the ever-changing operational and procedural needs of your business.
Custom software development is considered a costly affair to have by the community of technology leaders, though it is not. It saves you a considerable amount of costs, energy, and time that would have been wasted otherwise.
Yet, it could turn out to be a costly affair if you choose to not change your choice of technology. The technology industry is emerging continuously and is brewing cutting-edge innovation.
If you are willing to stay ahead of the curve, the equation is simple, embrace the change, for the better.
If you are still left with any queries, feel free to get in touch with the experts at Integrative Systems. Send us an email at [email protected] and someone from our team will get back to you in 48 business hours.