Do you know that the Software Product Engineering market grows yearly at a CAGR of 11.8%? While global spending on enterprise has crossed over USD 856 billion, many emerging trends in software engineering are helping enterprises redefine how they operate and innovate.
Cloud microservices emerge as the best architectural solution to develop and support applications across multi-cloud environments seamlessly.
Nearly two-thirds of the global organizations surveyed prefer microservices for building cloud-native applications! What are you doing to stay ahead of them? When you invest in Software Product Engineering this year, make it a strategic transformation to utilize microservices. Discover the latest trends of 2024 to shift to microservices as you continue reading!
Also Read: Pitfalls to avoid when outsourcing software development
What Is Software Product Engineering?
Before exploring microservices trends, let’s establish a common understanding of Software Product Engineering. It involves the designing and development process with the maintenance of software products. It controls the lifecycle of the entire software development over the cloud. It highlights the best practices for delivering high-quality and scalable software products to organizations of all sizes.
Why Businesses Are Shifting To Microservices?
Microservices architecture is gaining popularity over traditional monolithic architecture as businesses require the agility to develop easily scalable software products. The shift to Microservices resolves various challenges with the following advantages
a) Scalability: Microservices allow independent scaling of individual software components. You can scale up or down the server power depending on the workload.
b) Agility: Microservices offer you faster development cycles and quicker change implementations. You can release the product updates faster to the market.
c) Resilience: With microservices, you never worry about the service failures as it doesn’t bring down your infrastructure. The software remains available with low fault tolerance.
d) Decentralized operations: Microservices enable developers to use the same code blocks to bootstrap future application development requirements.
With more and more enterprises recognizing these benefits, the adoption of Microservices has grown impressively! In 2023, 63% of enterprises incorporated Microservices into their SPE strategy. The results were astonishing – Over 20% increase in development speed and a 15% reduction in operational costs.
Do you also want to have the same expected outcomes? Keep reading to explore what’s happening in the market these days!
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Exploring The Latest Trends of 2024: The Use Of Microservices In Software Product Engineering
The microservices architecture is shifting from its decentralization model toward lean development. The ultimate purpose is to achieve finer granularity and increased agility in the microservices architecture. Let’s get moving to these latest trends and best practices that are bringing innovation in microservices for software engineering!
1. AI-Driven Microservices Operations
While Artificial Intelligence was among the top trend-setting technologies of 2023, the influence of AI in microservices is evident this year!
Cognitive Designs:
Now, AI algorithms are creating cognitive designs that impose the highest security measures in the microservices architecture.
Data Analytics:
AI-driven tools can perform predictive analytics for proactive issue resolution. Organizations can anticipate potential issues by analyzing historical data and then enhance system reliability.
Thus, utilizing AI in microservices operations ensured a proactive approach to secure the application environment and optimize resource utilization.
Real-World Case Study: Datadog’s integration of AI in microservices operations is a live example of how organizations can benefit from advanced analytics.
2. Serverless Architecture Across Multi-Cloud Environments
Serverless Architecture has become synonymous with efficiency and cost-effectiveness when managing multi-cloud environments. With a serverless setup, you can eliminate the burden of infrastructure management overhead and focus solely on application development. So, this year, you can use the following elements of serverless architecture in your microservices operations:
a) Use of Function as a Service (FaaS) to build and run applications
b) Event-driven task execution by specific events based on the triggers
c) Automatic scaling of cloud resources based on application needs
No responsibility to server management – You pay based on the service consumption. That’s what makes serverless architecture a popular choice for many businesses worldwide!
Real-World Case Study: Last year, Coca-Cola successfully optimized its vending machine operations with serverless microservices, resulting in a 65% reduction in operational costs.
Also Read: Software Testing Trends
3. Quantum Computing For Software Product Engineering
Quantum computing is another revolutionary trend among software microservices architectures. It promises unparalleled processing capabilities for faster problem-solving across various domains:
Quantum Bits: It introduces Qubits to distinct data patterns written with classical binary bits. This breakthrough opens up new dimensions in computational potentials.
Complex Problem Solving: Be it supply chain optimization or exploring molecular interactions, quantum computers excel in these scenarios by offering incredible execution speed.
Imagine a future where quantum and classical computers collaborate. That’s where the microservices architecture is leading us in 2024.
Real-World Impact: For instance, global logistics routes are quite complex and requires optimization. Quantum computers could determine the most efficient route for goods delivery across the world. So, how today’s world leverages this trend is yet to be discovered!
4. Low-Code Microservices Development
The trend of Low-Code Microservices Development is indeed a good one! It’s perfect to accelerate your software development cycles with minimal coding efforts. The main elements of low-code microservices development include:
a) Accelerated development cycles
b) Optimize resource utilization
c) Rapid application delivery
So, non-techies can also do microservices development using the No-Code or Low-Code approach.
Real-World Case Study: Recently, Netflix faced a critical juncture when its primary database encountered malfunctions. Netflix strategically divided its application architecture into distinct microservices with specialized functionalities following the low-code approach.
Also Read: 18 Cutting-Edge AI Applications In 2024?
5. Edge Computing In Microservices
In the era of distributed applications, Edge Computing Microservices have gained prominence for minimizing latency and improving performance. The purpose of incorporating Edge Computing is to align the server computation with the data source. And it’s core characteristics include:
a) The ability to process data at the edge without any geographical boundaries
b) Strategic placement of resources to optimize the performance of microservices
c) No dependency on centralized data centers for data warehousing and processing
The Edge Computing trend in Microservices is a game-changer, don’t you think? So, accelerate your microservices management as you embrace the edge coming in 2024!
Real-World Case Study: Azure Stack Edge is a Hardware-as-a-service from Microsoft that brings the power of Azure to the edge. It enables organizations to access and utilize purpose-built hardware for edge computing.
6. Use Of Microservices For Decentralized Applications (DApps)
Imagine an ongoing digital townhall where decisions are made collectively through a single central authority. That’s precisely what decentralized apps do! Here is how decentralization is taking over this year’s Software Product Engineering:
Community-Led Decision-Making: DApps reduce the dependence on central authorities or intermediaries in digital processes.
Blockchain Integration: Using Blockchain in this decentralization movement ensures every transaction happens securely and controllably.
Real-World Implications: Consider the example of cryptocurrency transactions. Using DApps with blockchain technology is the perfect scenario to secure such scenarios.
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7. Event-Driven Microservices
The adoption of an Event-Driven architecture has gained immense momentum by the end of 2023. So, it will also keep transforming how microservices communicate and collaborate this year. The purpose of implementing Event-Driven Microservices includes:
a) Facilitate real-time communication between various microservices
b) Asynchronous event handling to achieve a decoupled and scalable architecture
c) Dynamic scalability is based on the event’s responsiveness during varying workloads
The transformative impact of event-driven microservices is perfect for companies undergoing an Agile transformation!
Real-World Case Study: Apache Kafka Streams is a distributed stream processing platform currently in high demand for data processing from various IoT devices.
8. Micro Frontends For Seamless User Experiences
Another emerging trend in microservices is the adoption of Micro Frontends. This trend prioritizes independent development and deployment of the front-end application components. Here’s a glimpse into the core characteristics and the real-world impact:
Independent Development: Micro Frontends empowers teams to work independently on frontend components for agile development.
Decoupled Deployment: Embracing Micro Frontends allows for the decoupled deployment of frontend components and minimizes the dependencies.
Enhanced UI Flexibility: The trend emphasizes flexibility in user interface design to create tailored experiences.
Real-World Case Study: A standout example of Micro Frontends in action is Spotify’s approach to user interface development. The company is now independently updating specific UI features based on user preferences.
Ready To Transform Your Software Product Engineering With Current Microservices Trends?
All set to make a strategic move to implement microservices? Indeed, it’s a compelling strategic move towards modernizing your Software Product Engineering with agility and efficiency. While exploring the emerging microservices trends of 2024, these can undoubtedly transform your method of Software Product Engineering. Now, let’s quickly recap these trends once again:
a) Influence of AI and Machine Learning for cognitive designs and predictive analysis
b) Coding without limits using Serverless, Event-driven, and Low-Code methods
c) Use of decentralized applications alongside blockchain integration
d) Quantum and Edge computing for real-time data processing
e) Cybersecurity in software engineering to protect digital assets
What’s fascinating about these trends is that each has a unique case study you can relate to! So it’s much easier to understand which trend best fits your company. Still, if you need some expert guidance, Algoworks stands as your trusted partner.
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Algoworks, a leading IT consulting company, specializes in conducting unique Digital Transformations for various businesses! Our expertise lies in providing strategic insights, development, and support services so you get a smooth transition!
About Us: Algoworks is a B2B IT firm providing end-to-end product development services. Operating chiefly from its California office, Algoworks is reputed for its partnership with Fortune 500 companies such as Amazon, Dell, Salesforce, and Microsoft. The company’s key IT service offerings include Mobility, Salesforce consulting and development, UI UX Design Consultation, DevOps, and Enterprise Application Integration. For more information, contact us here.
