Top 10 Software Development Trends of 2024

Integration of top-notch technologies, and applying new development methods in accordance with customer requirements are key indicators of where ventures should focus their efforts. 

Every year dictates new trending software development technologies and standing still is not an option. Vice versa, becoming a leader in current trends in the software development industry is the only way to have an edge over competitors and meet the needs of your customers.

Industry Overview

Before diving into software development latest trends, let’s have a short software industry overview:

• Enterprise software expenses have one of the highest growth rates ($880bn) in the tech industry and is forecasted to grow further in 2024. 
• A significant trend in the industry is the transition to cloud applications, particularly the shift from on-premises software to software-as-a-service (SaaS). SaaS now accounts for approximately one-third of the overall software market.
• Microsoft keeps the lead among the software giants, followed by IBM and Oracle.
• The utilization of artificial intelligence (AI) is becoming more prevalent as large language models like ChatGPT and Bard continue to advance and evolve.

We conducted a software development industry analysis to find out what are the software development trends 2024.

Latest Software Development Trends in 2024

#1 ChatGPT Adoption in Programming

Being named the fastest-growing app of all time, Chat GPT has made a big splash in the tech community and has become a popular software industry trend. Just in five days, the app acquired its first million users while it took other apps with household names months and even years so it can be for sure named as one of the current trends in software development.

Trained on a large dataset of human conversations, this natural language processing model is already widely used to streamline various business processes from creating social media content to lead generation. But the most intriguing thing about Chat GPT is that it can actually write code.

An inVerita developer decided to test its capabilities during their work on the project for coding, brainstorming, and solving complex calculations. Here you can read a full case study. What was the result?

1. Coding. When requesting Chat GPT to construct an entire application, it falls short. Similarly, if you lack coding knowledge and rely on it to generate high-quality code, it will disappoint. Although the output generated by AI is helpful in certain aspects of the software development process, it does not entirely eliminate the requirement for ongoing enhancements, manual testing, proper naming conventions, stable code implementation, and potential code reuse. However, it has undeniably contributed to streamlining several stages of the development process.
2. Complex Calculations. Chat GPT can solve complex calculations and equations. You just need to provide correct commands and parameters and get an accurate result in a few seconds.
3. Brainstorming. Instead of reading various resources on the web, you can just ask Chat GPT to provide a summary of the topic you need. Of course, you can’t take the answer for granted and must analyze it in correlation with your specific case. Still, developers can save plenty of time and concentrate on going in-depth only with the options that suit their project.

#2 Leveraging Low-Code Development for Cost Optimization

Low-code software development platforms have become a hot-button topic for startups. Its market is taking the growth momentum and is predicted only to accelerate during the next five years, making low-code development one of the current trends in the software development industry. 

As per Gartner's projections, approximately 65% of software projects will utilize low-code development in the years to come. The global market for low-code is anticipated to reach $65 billion by 2027 and $187 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 31.1% between 2020 and 2030.

What does this approach to software development stand for?

However, the approach also has some drawbacks. IDEs incorporating low-code functionality can encounter limitations when it comes to implementing custom code for specific elements of a project. This becomes apparent in situations where configuring certain types of UI or navigation functionalities becomes challenging or even impossible using the provided low-code tools. In such cases, developers may face restrictions in achieving the desired level of customization and may need to explore alternative approaches or solutions.

Furthermore, the absence of control over the source code poses challenges in addressing potential security vulnerabilities. If the platform on which the software relies is discontinued, businesses may be unable to independently fix security issues or apply necessary security updates.

#3 Cybersecurity is Becoming a Top Priority

Every year becomes the worst one for security operational teams. 

No matter how much-developed defenses become, attacking methods are more and more advanced. Talking about the spike in cybercrime in 2020, president-elect Joe Biden has said that cybersecurity is “a top priority at every level of government” from the moment he takes office.

For most businesses, the transition to remote working increased the risk of breaches due to the higher usage of home networks and personal devices, making cybersecurity again one of the hottest trends in software development. 

There are a few predictions, that we think might impact the cybersecurity world in 2024 and beyond:

1. Cloud breaches. Due to the COVID-19 pandemic, many businesses are transferring to the cloud. Cloud service providers should be ready for new challenges since there is a huge chance to observe a significant increase in cloud breaches because of weak security practices in cloud configurations that may lead to such weaknesses.
2.  5G sector. 5G, as the next generation of mobile connectivity and internet, is complex and new. Undoubtedly, it will have a huge impact on areas like smart cities, defense facilities, or intelligent power grids. It is obvious that 5G requires strong attention to security.
3. Cyber insurance. As mentioned previously, the increasing amount of cyberattacks will create a strong demand for cyber insurance policies to soften the potential losses. There already are some cases in the US, where certain companies have purchased such insurance and this market is expected to grow through 2023.
4. Preventing attacks. It might sound obvious, but the future of security lies in a proactive approach constant security testing, and advanced security measures. It is a key to prevent attacks rather than deal with their results.

#4 Artificial Intelligence Continues Rising

Artificial Intelligence umbrellas a host of different technologies that are able to process large amounts of customers’ data to provide them with better and more enhanced customer experiences. 

According to the McKinsey State of AI survey, 50% of respondents stated that their organizations have already adopted AI in one function at a minimum. So, what are the latest software development trends regarding AI?

1. A rise in computer vision applications to monitor public spaces through data sensors and cameras. With the help of artificial neural networks, the apps will be able even to monitor social distancing in the post-pandemic world.
2. Predictive analytics combined with computational power will be widely adopted by companies to find their potential customers. With the help of AI algorithms, businesses can get access to the sales data of thousands of customers and find out their preferences.
3. Because of the increase in remote work, as a result of the COVID-19 pandemic, customer centers will adopt greater amounts of Neuro-linguistic programming (NLP) and automated speech recognition (ASR).
4. Robotics will be widely implemented in finance, KPO, marketing, and manufacturing to automate rule-based business logic processes.

#5 The Internet of Things is Being Integrated Everywhere

Simply put, the Internet of Things is the interconnectivity of computer devices in everyday objects with the help of the Internet. 

According to Business Insider, by 2025 there will be 65 billion IoT devices worldwide which is 6 times more than in 2018. The technology has already been actively used in various industries due to its ability to collect large amounts of data from sensors, and process and transfer it through cloud networks. Such a process is faultless, guarantees no delays, high security, and builds an interactive visual interface experience, making IoT one of the software development industry trends. 

In 2024, apart from the usual application of IoT (such technological advancements as smart devices, predictive support on mobile platforms, smart home security systems, biometric cybersecurity sensors, etc), we will experience the rise of IoT, blockchain technology, mixed reality, and augmented reality usage in the healthcare industry and remote work organization. 

The advent of COVID-19 intensified the importance of digital and remote healthcare. People have become more eager to use wearable devices for regular checkups, and health professionals and patients have received the ability to timely share clinical care guidelines, the process of which will be strongly improved by upcoming 5G and smarter hardware technologies. 

Original equipment manufacturers have also started investing in the development of IoT-enabled products such as installing Bluetooth into hospital beds, wheelchairs, etc.

#6 The Big Data Industry Keeps on Developing

Some studies prove that there are 40 times more bytes in the world than there are stars in the observable universe. Experts predict that the global Big Data market will reach $250 billion by 2025. So, it is only a matter of time before you’re going to start using it in your business routine because this one of the trends in application development may become an integral part of modern business growth soon. There are few areas that might be driving the development of Big Data in 2024:

• Augmented Analytics. Augmented analytics add Machine Learning and AI tools and frameworks to existing BI toolkits. This can significantly decrease the time required for data preparation and cleaning. Business users could receive day-to-date insights directly from the tool, saving a lot of time for data scientists.
• In-Memory Computation. In-memory computation is a different way of speeding up analytics. Real-time processing is the most obvious advantage of this method. All processes flow on the data stored in RAM and, as a result, the data can be queried at a rate more than 100 times faster than any of the existing solutions. This may help businesses to make proper decisions and act immediately.

#7 Progressive Web Applications are Becoming the Next Big Thing

Show me a person who would wait for an app to be downloaded to use it. These days are gone because modern people prefer a quick fix. And PWAs offer this: they’re much faster and lighter to download than conventional apps, at the same time offering similar to native development user experiences, and notification-sending options. 

Progressive web apps can operate offline and are reported to increase user engagement by 137%. What is more, users face no updating issues as gratefully to the specific functionality of PWAs, they update automatically every time they are visited. From the development side, this type of software applications is cost-effective and time-saving as it doesn’t require various versions for different devices. This usually results in 3 or 4 times lower software development costs compared to a native app which makes it one of the current software engineering trends.

Such behemoths as Forbes, Starbucks, Pinterest, and The Washington Post have already been using the technology in their businesses. Pinterest has reported to have experienced a 44% increase in their ad revenue rate and 40% more time spent by their users on their PWA in comparison with their mobile website.

Therefore, PWAs are undoubtedly one of the trends in software development to watch and benefit from.

#8 Java and JVM Remain Being Hits Among the Programmers

Java appeared in the development world in the mid-’90s and since then it has reached the status of most trending technology for software development.

The explanation is quite simple: “Write once, run everywhere”. Because of its high security level, Java has been adopted by a large number of enterprises, and such leading service providers as Google, Microsoft, and Amazon support it for app development. 

Is it so popular just because of being secure? Of course, no. Java has much more to offer: a high degree of stability, automatic memory allocation, extremely wide use in Android App Development, and a wide range of open-source libraries. 

Thanks to the JVM feature, it also has a high degree of platform independence. Therefore, many modern programming languages such as Kotlin, Scala, and Groovy use JVM as their runtime. 

Though having no competitors in matters of stability and trust, Java remains one of the top software development trends, making app developers carefully watch and master every single latest technology in Java programming.

#9 Python has Beaten JavaScript

Python takes first place among the most popular languages with the biggest percentage of growth rate (19%) according to the PYPL index (the popularity of programming language index that analyzes how often language tutorials are searched in Google).

Being one of the easiest programming languages to learn, Python continues attracting more and more newbies eager to master it, and without any doubt can be named one of the latest technology trends in software development. 

According to the survey held by Stack Overflow, it’s the most-wanted language and beloved language among developers. For the first time since 2012, Java is not one of the top two most popular web app development languages. Python won the prestigious award of TIOBE Programming Language of the Year three times in five years. The award is given to the language that has gained the highest increase in ratings in one year. 

We can see Java in fourth place on the list for the first time in almost 20 years. This can be explained by the machine-learning boom among the number of developers learning Python, as to its simplicity and ability to support multiple programming paradigms. Owning a wide range of software libraries that can be dropped into code and scaled to large applications, Python gives multiple opportunities for web and desktop app development to arrange system operations.

#10 Blockchain Development

While blockchain is still evolving and its full potential is being explored, it has undeniably already revolutionized many sectors of business.

1. Decentralized Finance and Banking. Blockchain enhances security and transparency in banking by decentralizing digital ledgers, smart contracts, reducing transaction fees, and preventing fraud. It also enables digital identity management, allowing users to control their private financial information securely.
2. Blockchain in Healthcare. Blockchain in healthcare enhances data security, streamlines processes like pre-authorizations, and gives patients control over their medical records. This technology is set to revolutionize the healthcare industry by improving efficiency and patient care.
3. Central Bank Digital Currency (CBDC). Governments and central banks are exploring Central Bank Digital Currencies as stable, government-backed alternatives to volatile cryptocurrencies. CBDCs aim to simplify financial systems, reduce transaction costs, and provide a stable digital currency option.
4. Transparency in the Supply Chain. Blockchain addresses supply chain challenges like tracking, errors, and fraud by creating a unified digital system. Companies like Walmart and Maersk are already using blockchain to track products and automate workflows, reducing errors and speeding up delivery times.
5. Ricardian Contracts. Ricardian contracts, dating back to 1996, combine legal documentation with blockchain technology to create contracts that are both machine-readable and human-readable. These contracts are transparent, secure, and reduce the risk of fraud.
6. Tokenization. Tokenization converts physical and non-physical assets into digital tokens on the blockchain, offering a secure way to represent value. It's popular in finance for protecting sensitive data, like replacing credit card numbers with secure tokens. Tokenization also increases liquidity, allowing more people to invest in assets like real estate by purchasing smaller, affordable shares.
7. Popularization of Cryptocurrency. Cryptocurrencies, powered by blockchain, are gaining traction globally due to their transparent, decentralized nature. They enable quick, low-cost international transactions without intermediaries, driving widespread adoption.

Adopt Modern Software Technologies with the Right Vendor

Things that we considered to be a part of science fiction a few decades ago have already left the cinema. Furthermore, they are currently on the verge of becoming an ordinary part of businesses of different scales. 

Future software development technologies promise a wide range of opportunities to exploit. 

Scale up your business with us. inVerita is a Ukrainian software company headquartered in Lviv and located in Krakow and San Francisco. We are focused on building web and mobile solutions, quality assessment, and product design and are eager to implement high-quality software into your operations.