Enterprise Application Development Market To Expand Through 2024

Posted on Tuesday, March 02 2021 @ 7:20 CET by Thomas De Maesschalck
The enterprise application development market is projected to expand through 2024. As of 2015, the market was valued at $150 billion. According to the recent data, this value is expected to reach $250 billion by 2024. Undoubtedly, many major companies are launching new technologies that are accelerating this growth, such as cloud computing software and Internet of Things (IoT) connected devices. As an enterprise development manager, you need to know the most crucial trends propelling this growth. This way, you can maintain your competitive edge on the market and build high quality software. Read on to discover the most important growth factors pushing the enterprise application development market to expand through 2024.

IoT Connected Devices
First, Internet of Things (IoT) connected devices are a major growth factor accelerating enterprise app market expansion. According to recent statistics, wearable devices alone are projected to reach over $1100 million this year, from about $835 million in 2020. Indeed, users are purchasing a variety of wearables that require enterprise-grade applications. For example, many developers have been releasing applications for smartwatches. Many of these allow users to receive incoming messages and calls linked to their mobile device, as well as notifications for upcoming meetings. Notably, Apple, Android, and Samsung all have smartwatch platforms for developers. Backed by these tech giants and growing consumer demand, IoT connected devices are definitely pushing enterprise app market expansion.

Helm Chart Repositories
In addition, Helm Chart repositories are another major growth factor driving the enterprise application market. Notably, enterprise developers can install a Helm repository to share Helm charts across their organizations with fine-grained access control. When paired with JFrog's Artifactory containerization software, you can proxy and cache various Helm charts from a single URL. Moreover, a Helm repository in Artifactory provides reliable security to accommodate your users, build servers, and interactions. With massively scalable storage for your repositories, these tools are supporting future business growth for many organizations. Absolutely, Helm chart repositories are accelerating enterprise application market growth through 2024.

Motion UI
Next, motion UI is also driving enterprise web app growth. Importantly, motion UI can achieve a higher perceived performance rate than standstill graphics. Often, the perceived performance is just as important as the web page's actual speed. Indeed, improving perceived performance can improve user satisfaction and decrease bounce rates. To achieve this, many UI/UX designers use simple animations in their web apps. Naturally, a subtle movement can go a long way towards engaging users and enhancing the experience. Ideally, your animation should fit within the site's brand and aesthetic. Additionally, it's important to keep it simple. Sometimes, too much motion in a web app can overwhelm users and turn them away from your site. In short, simple animations are driving enterprise web app growth with their increased engagement and lower bounce rates.

Moreover, blockchain is another major trend to watch in the development landscape. Importantly, this enterprise software solution helps organizations protect their data and provide secure access. To protect this sensitive application information, blockchain technology does not store data on a single server. Instead, it stores data on a computer network. Naturally, this decentralized storage reduces operational costs by preventing expensive data breaches. In addition, users can perform tasks faster on these systems, as the blockchain eliminates administrative work from the process. Certainly, blockchain's decentralized ledger amplifies security for development enterprises, pushing future growth.

VR & AR Technology
Furthermore, virtual and augmented reality (VR and AR) technology is also pushing enterprise application growth. Notably, headset technologies are involving, as different companies improve optics, displays, sensors, and haptics. Within optics, waveguides are also advancing to improve the image transmission from the display to the user's eye. Importantly, many different industries are using VR and AR as well. For example, many major gaming companies are launching games with VR/AR headsets to provide their consumers with a total immersive gaming experience. Other companies are using it to provide remote assistance and training. Surely, VR and AR's growing industry demand and advancing headset technology are driving enterprise application market expansion.

The enterprise application development market is projected to expand through 2024. First, IoT connected devices are fueling rising demand as more consumers purchase wearable devices. Next, motion UI is also pushing enterprise web application market expansion. In addition, Helm chart repositories provide massively scalable storage to support growing enterprises. Moreover, blockchain's highly secure decentralized ledgers are also fueling demand. Furthermore, advancements in VR & AR technology are expanding market growth as well. Consider these points to learn about the major factors driving enterprise application market expansion through 2024.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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