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The software industry is constantly changing and updating. Especially in recent times, software development has undergone a major transformation thanks to an increase in demand for innovative programs that can help individuals, companies, and institutions to meet their rapidly evolving requirements. The urgent digital transformation of businesses in the last two years has also contributed to increasing innovation in the software development industry. The UK software market itself had total estimated revenues of $23.7bn in 2019, gradually emerging as one of the country’s most successful and lucrative sectors.

Businesses within this sector have increased their R&D to facilitate testing and debugging of new software, developing innovative databases and applications, and designing and developing new software systems. And this trend is only expected to continue in the coming years. Regardless of the area of innovation, software development is a promising and booming sector. Below we have a look at some of the future trends in software development that are likely to be the focus of R&D and innovation in this field.

  • Blockchain Technology

Blockchain technology involves creating a secure, fixed, and decentralized database that captures all transactions chronologically. It was invented to support and empower cryptocurrencies and enable faster, safer, and more efficient digital transactions. Moving forwards, blockchain is expected to influence innovation in software development. Due to the increasing demand for mobile applications that offer better security, higher quality, and greater efficiency, the need for blockchain-oriented apps is only expected to rise. Whether it is the development of innovative digital currency software, distributed apps, supply chain and logistics apps, personal identity security apps and software, IoT applications, or personal health apps, blockchain technology is the basis for the development of a range of essential software and mobile applications.

  • AI & Machine Learning

In this digital era, technologies like artificial intelligence and machine learning are permeating into new areas and leading to innovation in those fields. When it comes to software development, AI and machine learning have been found to drastically enhance the efficiency and performance of developers, testers, and programmers, and enabled them to deliver more powerful software and applications. From smart code creation, and rapid and efficient prototyping and visual interface designing, to faster data processing and better security design and management, AI and machine learning are well-suited to support and enhance numerous functions within software development.

  • Cross-Platform Development

Thanks to advancements in technology, developers no longer need to use different platforms for different operating systems when designing new mobile applications. Cross-platform development technology allows developers to use one codebase to sustain two mobile platforms. It reduces the dependence on resources and provides opportunities to adapt codes to many applications. Many of these new cross-platform technologies come with attractive features like automated testing, user-friendly toolkits, better speed, etc.

  • Future Tech

Apart from the trends mentioned above, software development is expected to be enhanced and revolutionised by several other tech trends involving:

  • Deep Learning
  • Business Process Orchestration
  • Serverless Apps
  • Graph QL & API Design
  • Microservices

An Attractive Incentive for Innovative Software Businesses

All of these trends are set to accelerate innovation in software and help businesses explore new possibilities with the help of more powerful, efficient, secure, and easier to maintain applications. Moreover, businesses involved in software development have a lot to gain by investing in R&D and seeking innovation. The R&D Tax Credits scheme by HMRC is designed to help individuals and businesses who have achieved innovation through R&D in software development gain valuable funding and tax relief for their work. Find out more about which activities qualify and how Datafox can help you with your R&D Tax Credits claim – Get in touch with us on 0800 035 2510 or email us at info@data-fox.com.