We will say goodbye to 2022 in a few months, and we have no idea what technological changes 2023 will bring. The consecutive COVID-19 waves have pushed enterprises’ reliance on disruptive technology to improve business processes and elevated digital transformations to new heights.
To ensure corporate resilience, CIOs and providers of software development services allocate large budgets to technology. According to a Gartner estimate, global IT investment is expected to reach US$4.4 trillion by 2022, up 4% from 2021. The software development business alone is expected to reach US$675 billion by the end of 2022.
During the pandemic, most businesses focused on extending remote work capabilities, resulting in the fast growth of cloud computing. Though things are returning to normal, enterprises continue to rely on the cloud to scale up or down to meet their current business needs. Cloud-native technology is becoming more popular because it enables you to build, design, and run workloads straight from the cloud.
Accenture and Amazon, for example, spend extensively on cloud computing technology in order to train more employees and drive cloud ubiquity. Businesses are looking forward to cloud transformation because of the agility and speed it provides and the built-in scalability in a model work environment.
The worldwide artificial intelligence market revenue is predicted to expand rapidly in the next year, reaching more than $500 billion by 2023. Whether you notice it or not, AI and machine learning are being employed in almost every business, from real estate to production and manufacturing. Another field where AI is expected to have the greatest influence is healthcare. AI software is now making an influence on the corporate sector through Robotic Process Automation (RPA). Businesses utilize RPA for data input, bulk emails, payroll, lead nurturing, financial planning, and compliance, among other things. AI apps, AI platforms, and other software sectors will be used by SMEs, major organizations, and government agencies.
IoT launched as a much-hyped futuristic technology that has now become a reality, affecting a variety of industries. IoT has permeated everything from smart appliances to phones, vehicles, and security systems. This trend will continue to grow in 2023, with firms focusing on quick IoT development and leveraging the trend to boost their business.
The proliferation of gadgets has spurred the expansion of the Internet of Things. It will continue to become more affordable, secure, and widely available as a result of new sensors, increased processing power, and dependable mobile communication. Furthermore, IoT will be utilized in conjunction with data analytics software and artificial intelligence to assist organizations in improving operations, lowering overheads, increasing productivity, and generating more income.
Web 3.0 is divided into three main IT architecture levels, which are described below:
Blockchain became famous with cryptocurrencies and Bitcoin; nevertheless, blockchain is growing in popularity, and different sectors are embracing this disruptive technology to handle supply chain activities more effectively. Blockchain application cases are expanding on a daily basis, and major corporations such as Walmart, British Airways, and FedEx have already invested in this technology. We can see how NFTs have grown in popularity in the previous two years, and how artists all over the world have begun to invest in them.
It is mostly utilised for digital art, but by 2023, we may expect to see new elements of the expanding use case. In addition, by 2023, companies of all sizes, from SMEs to huge corporations, will be using blockchain to improve transparency, security, and dependability. According to a research, the blockchain industry would increase at a CAGR of 42.8%, resulting in worldwide revenue of US$19.9 billion by 2023.
In the following year, the IT market will continue to develop and will be heavily impacted by the aforementioned trends. Organizations’ key focus in 2023 will be on automation at all business levels. Most businesses are investing in emerging technological trends with the expectation of a high return on investment. However, these technologies present obstacles, and a better step would be to contact with reputable software development businesses to understand the current market in real time and release effective products with the appropriate technological implementation.