Rising Demand of Online Sources and Future of Software Industry

software future

Rising demand for software continues to propel the growth of the gaming industry. Video game software is predicted to reach $223.2 billion by 2023. The popularity of retail purchases over the Internet continues to grow. In 2014, the sale volume of video game software was estimated to reach $1.3 trillion. By 2020, this figure is projected to reach $4.9 trillion. Increasing demand for video games is also fueling the expansion of the online software industry.

Open source is a programming or software engineering profession

The benefits of open source contributions are numerous, and they can even lead to a more lucrative career than you might expect. Open source projects offer developers a platform to work on projects in which their ideas can be used, and they can learn new programming languages, project management skills, and other valuable skills through participation in open source communities. Furthermore, participating in open source projects can also boost your soft skills, as it requires collaboration among a variety of people from different time zones.

Open source projects often create substantial social impact. For example, the “Share Excess” project fights hunger in Africa, and the Moja Global project estimates the emissions of the AFOLU sector. Contributors to open source projects benefit from a learning process that continues beyond their own projects. Working on a variety of projects exposes them to new technologies, and they are also exposed to constructive criticism from other developers.

Smart, connected products

Smart connected products bring a new technology stack and a whole new level of product innovation. Companies need to adopt new service organizational structures to make the most of real-time product data. This data allows for significant reductions in field-service dispatch costs and spare-parts inventory control. Early warnings of failures can prevent costly breakdowns, and data about product usage can feed insights back into product development.

The rise of smart, connected products requires a combination of products with various types of functionality and can be controlled remotely. Some products may be connected to a central data processing center and have a human operator oversee their performance. Others, such as GE’s OnFarm, compete with traditional agricultural equipment manufacturers by collecting data from a wide range of farm equipment. These products aren’t required to be manufactured by GE, though. The open source approach allows any manufacturer or company to assemble a solution for a client, and allows third parties to create applications and services for the product.

Experience trumps education

A recent study by the Harvard Business School found that experience trumps education in the hiring process. Large organizations are more willing to overlook educational qualifications and value experience over education, resulting in a higher demand for software developers. In addition, an online education company called Pluralsight found that 73 percent of software developers are self-taught, which means that they can learn to code with minimal instruction.

Costs of cloud-based software

Considering all the benefits of cloud-based software, one might wonder why it’s not popular with small medical practices. Many small practices will cite high-cost software development and cloud storage as reasons not to use cloud-based software. However, these costs are not the only barriers to adopting cloud-based software. Many smaller practices will find that digitizing patient health records can save them time and money through a combination of staffing and storage savings. In recent years, health IT trends have made dramatic progress. With this in mind, development enterprises will be courting smaller practices with affordable options.

Another factor to consider when considering the cost of cloud-based software for call centers is its flexibility. Many call centers experience fluctuations in business needs, such as a sudden increase in clients or a sudden downsizing of staff. On-premise solutions are also expensive, and can be hard to upgrade if needed. Cloud-based solutions offer greater flexibility and ease of use. Moreover, you only pay for the services that you actually use.

Impact of COVID pandemic

Despite a looming COVID pandemic, IT professionals are optimistic about the future of their careers. About eighty percent of IT pros feel good about their role as a technologist. A minority, however, are concerned about the uncertainty that remains. The future of COVID is a complex one, with new directives and tactics requiring proper management.

Despite the global epidemic, not all industries or organizations are affected equally by the pandemic. Some economists have called this scenario a “K-shaped” consumer environment, with some consumers flourishing and others struggling. The effect of COVID on the tech sector is clear in the recent bifurcation of the stock market. It is crucial that the software industry adapts to this new reality.

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