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Business Plan Sample 4
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The Internet of Things
Internet of Things is a group of physical objects (things) such as smart wearable devices that are connected and can transfer data over the Internet. IoT in software development opens a way to reliable, user-friendly, and secure solutions. It creates multiple possibilities for both developers as well as business owners. They can this trend to get an edge over their competitors in the market. IoT has been a part of top software trends for long now and considering its dominance, it will continue being a topic of interest in the next decade as well. Figure 2. Rate of Growth of Internet of Things in Europe (2017-2022) Source: IDC, 2017 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% In-Store Contextualised Market Airport Facility Automation Smart Buildings Agriculture Filed Monitoring Smart Home Others The industries that are forecast to spend the most on IoT solutions in 2019 are discrete manufacturing ($20 billion), utilities ($19 billion), retail ($16 billion), and transportation ($15 billion). IoT spending among manufacturers will be largely focused on solutions that support manufacturing operations and production asset management. In the utilities sector, XXX LTD 6 IoT spending will be dominated by smart grids for electricity, gas, and water. Omni-channel operations will be the single largest use case within the retail sector. In transportation, two thirds of IoT spending will go into freight monitoring and logistics solutions. The industries that will see the fastest annual growth rates throughout the 2017-2022 period are retail (18.5%), healthcare (17.9%), and state/local government (17.1%). ( IDC, 2017 ) AI-Driven Software Development The term “Artificial Intelligence” is used a lot nowadays and you might be wondering how is this a part of software development trends for 2020? The artificial intelligence industry is here but it is far from reaching its peak. The entire world is moving towards automation and software has a major role to play in it. 9.51 14.69 22.59 34.87 51.27 70.94 94.41 118.6 2018 2019 2020 2021 2022 2023 2024 2025 Revenues for Artificial Intelligence from 2018- 2025. Billions $. Source: Statista, 2019 Given its popularity, AI will remain in the top software trends for at least next few years. Companies are using artificial intelligence for better performance and decreased operation costs. To make your mark in the digital world in 2020, practice artificial intelligence- driven software development in your business. XXX LTD 7 Increasing Popularity of Cloud Services Cloud has been in the market for a long time now. Even technologies in this list such as IoT and Blockchain function as a cloud service. The problem of data storage is real, and cloud offers a reliable and secure alternative to that. The market is shifting from using physical data servers to cloud and your business should become a part of it at the earliest. By the use of cloud computing in software development, you can not only speed up the entire process but also increase transparency and decrease the overall project costs. This not only offers new opportunities for developers but also allows businesses to innovate. The reach of cloud services is increasing, and it already has penetrated sectors like logistics, health care, finance, and more. Types of cloud computing such as Platform-as-a-Service (PaaS), Infrastructure-as-a-Service (IaaS), and Software-as-a-Service (SaaS) are already being used by businesses to boost the overall efficiency of the development process. For instance, PaaS helps to develop and run applications without actually building them. The use of cloud services in software development will only increase and you should start leveraging its power for your business at the earliest. (standardfirms.com, 2019) XXX LTD 8 Cybersecurity The concept of cybersecurity i.e. security over the Internet is not new. As the entire population is gradually shifting on the Internet, the need to keep it secure becomes more urgent. Cybersecurity makes sure that your personal and professional data is secured from cyber-attacks. Following the ongoing software trend, by 2020, the need to use cybersecurity for the safety of applications and software will increase significantly. This can only be implemented by hiring developers who can design custom applications and software for your business. The Biggest Cost for a Cyber Attack is productivity Attack Cost Productivi ty Cost Almost half of all companies have over 1,000 sensitive piece of information that are not protected Attacks on healthcare are expected to increase by 400% In 2020 The cost of cybercrime is expected to exceed $6 Trillion Annually by 2021 Cyber Security Statistic in 2020 XXX LTD 9 Low / No Code Development / GUIs Low-code development is one of the less-acknowledged but an important part of software development trends of 2020. It is a visual development approach to application development that enables professional and nonprofessional developers to collaborate and rapidly build and deploy applications. According to Gartner, “By 2024, low-code application development will be responsible for more than 65% of application development activity.” There can be large, critical differences between the low code application platform providers, and it is especially apparent when considering an enterprise’s approach to making strategic platform commitments. Knowing these differences is critical to achieving better business outcomes, improving business-IT collaboration, and handling application lifecycle management. An updated Forrester report in 2017 highlighting 3 industry trends within Low Code Platforms: • Growth - the low-code market is forecast to increase to over $21 billion over the next five years. • Diversification - Two major developing market segments focus on the needs of business ("citizen") developers and of AD&D (App Dev) Professionals. • Integration - As adoption of low-code expands and businesses look towards technologies like AI, robotics and machine learning, solutions must grow to offer these capabilities. (Forrester, 2017) |
