As technology continues to evolve, more and more businesses are looking for ways to modernize their applications. Application modernization is the process of taking existing legacy software and updating it with newer technologies that enable better performance and greater flexibility. It’s becoming increasingly important in today’s digital world as companies strive to keep up with the ever-changing landscape of technology. You can read here for further information.
In this blog post, we’ll discuss some of the trends in application modernization that businesses should be aware of for 2023. By understanding these emerging technologies now, you can plan ahead on how best to leverage them for your business needs down the road. So, let’s get started!
The Cloud
The cloud will continue to be a major driver of application modernization in the coming years. Cloud technologies are becoming ever more sophisticated and cost-effective, allowing businesses to access powerful computing resources without having to invest in their own hardware. This makes it easier for companies to scale up or down as needed, as well as provide better security and data protection thanks to the safety protocol from the solution distributors. Some major cloud providers can be mentioned as Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform, etc.
The market for cloud computing was valued at USD 483.98 billion in 2022, and from 2023 to 2030, it is anticipated to increase at a CAGR of 14.1%. In addition, according to IDC’s study, 90% of applications will be cloud-native by 2025.
Microservice
Microservice architecture is becoming a more popular way to build applications, as it allows for greater flexibility and scalability than traditional monolithic architectures. With microservices, an application can be broken down into smaller, independently deployable services that are easier to maintain and update. This makes it simpler to accommodate changes or add new features to the system at any time without having to rewrite the entire code base.
According to Market Research Future’s (MRFR) thorough research report, “Microservices Architecture Market, By Deployment, By Service, By Vertical Forecast 2030”, the industry will reach USD 21.67 billion by 2030, growing at an 18.6% CAGR.
Containers
The Global Application Container Market is projected to be worth USD 12 billion by 2028, growing at a 33.1% CAGR during the forecast period (2022-2028). According to Statista, Docker, LXC and Kubernetes are the leading containerization technologies with the 2022 worldwide market share figure of 27.13%, 25.13%, 16.42% respectively.
With containers, you can package an application and its dependencies into one unit that can be deployed on any server or cloud platform without having to worry about compatibility issues. This makes it easier to quickly deploy applications and maintain them across multiple environments, which is essential for businesses that need to remain agile in the face of ever-changing industry conditions.
AI Chatbot
As more companies look to provide a better customer experience, many are turning to AI chatbots. These automated bots can handle mundane tasks like answering frequently asked questions or providing customer service 24/7 without the need for human intervention. This not only saves time and money for businesses, but it also boosts customer satisfaction by responding quickly and accurately.
A Forbes’s article announced that AI chatbot could help businesses increase their sales by even 67%.
Edge Computing
Edge computing is a distributed computing architecture that moves data processing and storage away from centralized data centers to the edge of the network. This allows applications to take advantage of localized resources, resulting in lower latency, faster response times, and improved security.
Edge computing will continue to be an important trend as companies look for ways to make their applications more responsive and secure.
According to a research report from Grand View Research, the global edge computing market size was about USD 75.6 billion in 2022 and continuing to grow at a CAGR of 37.9% from 2023 to 2030. This makes it an attractive option for businesses looking to get ahead of their competition in the digital era.
Wrap Up
These five digital trends are just a few of the many that companies should be aware of. As technology continues to evolve, it’s important to stay informed on the latest advancements and how they can help your business succeed. Keeping an eye out for these five trends will ensure that you stay ahead of the curve and capitalize on new opportunities as they arise.
Finally, it’s important to remember that different trends may be better suited for certain industries or company sizes. It’s always a good idea to do your own research and consult with experts in the field before investing in any technology to make sure you are making the right decision for your business. With this knowledge, you’ll be able to make more informed decisions and get the most out of your investments. Good luck!
