In the last decade, we’ve seen unprecedented growth in the software industry. By 2021, the global software market’s revenue is projected to reach $507.23 billion.
Due to globalization and advances in technology, though, the industry is in a rapid state of flux, presenting new challenges for businesses every year.
Here are the top challenges that software management companies are likely to experience in 2020:
Increasing time to market pressures
Businesses in the software development industry will face high local and international pressure this year.
They will be required to remain extra vigilant and proactive in terms of industry trends and time to market pressures as a result.
Project managers need to work smartly and ensure that deadlines are being met to maintain a competitive edge.
Even a slight delay in timing can lead to loss of market share and diminish returns on investments.
Due to time sensitivity and tougher competition, companies are likely to look beyond their in-house developers to ensure timely completion of projects.
Software companies will find themselves in an uphill battle for market share this year.
Businesses will need to evolve constantly by investing in modern IT infrastructure to keep up with the competition.
This will require an extensive amount of capital investment, which might make it challenging to maintain the financial viability of projects.
As it takes several years to get a return on investments, businesses will need to find a reliable, long-term source of financing to sustain their operations.
Again, companies are likely to tackle this problem by outsourcing parts of their development processes to third-parties.
Greater quality testing requirements
The increasing demand for cross-platform integration and complex user requirements make debugging and quality testing more difficult than ever.
The pressure to implement projects on time-sensitive deadlines will further lead to multifaceted challenges that companies will need to mitigate effectively to find success.
During testing phases, companies will need to hire specialized quality assurance services to fix and retest their software until all issues are resolved—before going live.
To get around this, businesses will look for experts who use various techniques (like black-box testing, regression testing, etc.) to ensure greater customer satisfaction.
About EX2 Outcoding
The company’s team of professional developers specialize in web development, mobile app development, and quality assurance in software testing. Call at +1 800 974 7219 or visit their website for more information.