The rise of e-commerce software
In 2020, the e-commerce market was at its peak due to the pandemic. Many companies switched to online shopping and delivery services, as this was the only way to shop safely during isolation.
However, the e-commerce space will continue to evolve after the Covid-19 era. Statista says the e-commerce market will grow to 22% in early 2023, up from 14.1% in 2019.
E-commerce applications have proven to be a significant improvement in the quality of service and a significant push to work with business processes during the pandemic. Companies will leverage the use of digital e-commerce magento development agency.
The software development world changes almost every two weeks. While this dynamism was a miracle for everyone in the early days of the Internet, over the years we have become accustomed to miracles.
Surprisingly, the sad part of these changes is that we meet all the new trends today in order to say goodbye to them tomorrow.
But there are things like SEO that are timeless and will continue to exist.
The software magento development agency, with its huge number of channels, is difficult to change when they have to always offer something different and meet the expectations of consumers. The software industry is a competitive environment, and if you are not ready to meet new requirements, you will not be able to stay in business for long.
Artificial intelligence can have various practical implications for an e-commerce company. These span multiple areas, from the supply chain to customer-focused software, as each of the above suggests. One area that this can be seen is enterprise search.
While this might seem appropriate in certain contexts, e-commerce retailers can have a practical impact in a few areas. That’s only if the company is using AI to optimize enterprise search properly, however. The first part of this would be ensuring that data is collected and fed to the AI-driven search system.
Once that’s done, queries can be processed much more effectively. These will then provide much more accurate results. For an e-commerce company, that could focus on inventory, delivery times, and much more.
Coupled with machine learning, there are other practical implications to AI in e-commerce. Dealing with a surge in online orders can be one of the more notable advantages. In these cases, ordering the wrong amount of supplies could mean unfulfilled orders or an excess of stock.
Using AI and machine learning, however, more accurate predictions can be made about what an e-commerce store needs. Supply chain management is also easier. By analyzing previous company trends, artificial intelligence can predict when more supplies and other resources are required. The same can be said for quieter periods.
That will streamline the supply chain, which is something that can be replicated in other areas of a business. In turn, that’ll lead to a multitude of cost savings. These can be enhanced through AI-driven improvement recommendations. By utilizing these, companies can address shortcomings while enhancing their strengths.
Growing demand for blockchain developers
Bitcoin and Ethereum will be the talking points in 2019.
There has been a lot of buzz in the past, created by the cryptocurrency market with its sharp and unpredictable ups and downs. The underlying blockchain technology will remain the focus of software developers.
Virtual reality in software development
We are following the development of virtual reality technologies with amazement.
High-end VR headsets are emerging today, although a fortunate few have bought them. It is reported that sales of these high-value toys totaled less than one million units.
Of course, HTC Vive and Oculus Rift caused a lot of hype, but the popularity of this topic in the press is many times greater than the popularity of the products themselves in the market. At least for here.
This trend is set to hit the eCommerce and software development world in 2020. This innovative technology enhances wireless communication while providing smartphone users with faster upload.
Despite some pandemic economic instability, software outsourcing companies are expected to quickly regain their stability. Gartner says the IT services market fell 4.6% in 2020 but will grow to 4.1% in 2021. Business Wire also predicts that the IT outsourcing market will grow from $ 342.9 billion in 2020 to $ 410.2 billion by 2027.
Because of the difficulty of finding talented IT professionals in the local market, companies are turning to custom software companies for highly skilled professionals outside of their field (whether coastal or offshore).