What will the software industry look like in 3, 5, even 10 years from now? And what customer demands and business trends will drive changes in software products, how they’re developed, and the industry that provides them?
Given the dynamics of innovation and ever-changing user landscape, in many ways it’s difficult to predict what the software industry will look like in 3 years let alone 5 or 10 years. With this said, however, here are some thoughts for consideration.
Mobile: The so called “third screen” has come a long way. In fact, most experts suggest more transactions will take place on mobile devices than on PCs in years to come. Although advertising dollars currently dominate revenue models, more value will be placed on consumer and business applications by merchants who will be willing to “pay-to-play” so long as compliance and other factors can be overcome. Simply put the convenience and value of having access to more accurate, complete and timely information from a consumer’s perspective will be more equally balanced by the value provided to merchants in distributing products and services more effectively. The greatest challenge will remain categorization in the sense there needs to be an adequate pairing of products and services for each segment of consumers in order to create a strong enough value proposition for both consumers and merchants.
Social Media impact on Sales and Marketing: The software industry continues to experience the broad impact of social media on sales and marketing. As the use of social media on a personal level continues to accelerate, individuals and their employers will begin to accept social media and associated technologies within their work environment. Adoption will continue with the exchange of business information for enhanced decision making (customer relationship management applications, etc.), and will ultimately lead towards consumption of consumer products and services in the workplace, including areas such as voluntary insurance, group rates for educational and entertainment events and other similar areas. The technology is here, the monetization or cost offsetting ability on the employer level and potential disruption to worksite productivity needs to be more fully understood before mass adoption will occur.