Usage of the software is prevalent in every business, be it small, midsized, huge companies. The increase in companies and numerous industries has led to the rise of the software industry to a great extent. In 2020, the Asia Pacific region became the biggest region in the entire software product market, holding a market share of around 41%. The second position was taken by North America with a share of 35%. The presence of software is extremely crucial as it provides the key direction to the devices to carry out different instructions or complete a task properly. Especially in the computer science or software engineering field, all sorts of activities or programs are heavily reliant on various software applications. Computer software consists of different computer programs, libraries, data, documentation, etc. Software alone cannot manage to run the entire computer function. Both the software and hardware are interdependent. The entire software product market includes selling software products by several organizations, entrepreneurs to form and develop a software market for both business and personal use. Almost any kind of software comes with a license for a specific time usage and receives necessary updates. Some of the major companies which are contributing greatly to the software development market include Dell Technologies, IBM, Microsoft, Oracle, and HP Inc. All the companies are providing new and upgraded software to adapt to the everchanging industry trends.

Change in the software industry is inevitable and it keeps evolving day by day. Once there was a time when a simple action like long-distance calling took several minutes whereas nowadays it can be done within a few seconds. The cutting-edge new technology has made this development possible. Let’s look at some of the new technology and trends introduced in the software industry.

The Internet of things has brought many development trends in the software market. It has made a profound impact on human lives and their daily activities. Starting from mobile devices to transportation, everything falls under the radar of IoT. All sorts of activities are easily monitored using sensors installed on the devices.

The primary goal of human augmentation is to enhance the physical and cognitive human experience. It mainly refers to the installation of technology in the human body. One example of human augmentation is the wearable which is widely used by the manufacturing and mining industries. In some industries employees even wear microchips on hands for daily work purpose.

Starting from a mere experiment Big Data evolved into a mandatory thing nowadays. Netflix can be considered as a major example of how big data has proved to be lucrative for businesses through using different data. Big data also helps the banking industry regarding their customer's information.

Artificial intelligence is bringing major transformation in the industry, and we can see the demonstration through the machines which possess the intellectual capability of humans and execute tasks that are even out of reach for humans. Artificial intelligence is present in the technologies like machine control, machine learning, deep learning, and natural language processing, etc. Artificial intelligence has reduced the need for human presence to a great extent and a huge number of software developers are looking for ways to develop custom software to implement artificial intelligence for greater purposes.

The importance of cloud-based solutions has increased with the growing need for data recovery, and more accessibility of data by businesses. A lot of companies have shifted to the usage of cloud services and other alternatives in recent years.

Virtual reality is another new technology in software development that has transformed the gaming and video industry to a great extent. The technology of virtual reality has even reformed the education sector, as virtual reality has been incorporated into the classrooms to improve the learning process. The same goes for the corporate world, where virtual reality has been implemented in the training sessions and other work purposes to enhance customer service and overall experience.

The software development market is very dynamic and opens great scope for businesses to ensure effective and smooth business operations. Technological development has been advantageous to companies, paving the way for earning greater revenues. Some of the software companies which usually rank at the top level in terms of their revenue include, Microsoft, SAP, Oracle, IBM, HP, EMC, and many others. Apart from the global market, Bangladesh has also witnessed new technology in software development due to the strong presence of IT companies. One such company is BJIT, which is an offshore IT outsourcing company offering cutting-edge technology solutions to more than 50 global clients for the last 20 years. The goodwill and reputation which BJIT has earned over the years truly make the company a trusted destination for availing any form of IT products and services.