MWDN 2024 forecast – What do we expect of the software development and IT market next year

Every year is a challenge and an opportunity for the IT market. In 2020, we witnessed the rapid development of collaboration tools and remote work models. In 2021, tech companies were increasing, leading to over-optimistic forecasts for 2022 and massive staff reductions at the end of 2022 and the beginning of 2023. In 2023, OpenAI presented its Generative Pre-trained Transformer to the public, which has already changed entire industries like education, content creation, and recruiting. 

Seeing all these drastic changes, can we make any kind of predictions at all? We tried to foresee the future with this series of articles. Here, we delve deep into the IT market’s key trends, challenges, and dynamics. This overview serves as your guide to our in-depth analyses and predictions for the coming year, spanning from evolving software development trends to the transformative impact on IT outsourcing.

1. 2024 software development trends and their impact on the IT outsourcing market.

Our first piece explores the software development trends set to dominate 2024. We examine how emerging technologies, evolving methodologies, and shifting customer expectations transform software development and significantly impact the IT outsourcing market. This article serves as a guide to understanding:

• Moore’s law, 
• The development of 5G, 
• Cloud computing,
• Switch from making a profit to returning investments,
• Web 3.0,
• Changes in development careers, and
• Quantum computing.

2. Navigating workforce trends – the rise of staff augmentation in 2024 and beyond. 

Here, we will talk more about the growing popularity of the staff augmentation model, basing our judgments on Google Trends dynamics. Staff augmentation and its multiple hybrid models gain momentum as companies seek more flexible contracts and efficient ways to manage their IT needs. 

We analyze how geopolitical considerations and IT trends affect the labor market and what changes we should expect from the staff augmentation model in 2024.

3. All the IT outsourcing models compared: Understanding new pricing models

The third article in our series provides a comparative analysis of the various IT outsourcing models. With the economic crisis spreading around the world, the IT industry evolves, and so too are the pricing structures. 

We dissect flexible pricing models, offering insights into how businesses can make informed decisions when selecting an outsourcing partner, ensuring both cost optimization and quality.

4. IT services to be outsourced in 2024

As offshore software development teams become more widespread, we wonder what IT services businesses will seek to outsource in 2024. 

In this article, we predict the services in high demand and discuss how companies can leverage staff augmentation and outsourcing to gain a competitive edge. From outsourced SDR to cloud computing and cybersecurity, we cover the spectrum of services likely to see increased outsourcing.

5. Geopolitics and tech sector – How technologies affect the physical world and how the physical world gets shaped by technologies

Our final article focuses on the geopolitical landscape and its impact on the IT market. Taiwan and Moore’s law. Ukraine, Israel, and military tech. Russian cyber threats and cybersecurity measures. Let’s try to remember all the possible challenges 2024 can place in front of us.

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The MWDN 2024 forecast series aims to analyze the possible scenarios of IT market development and provide industry observers with insights into the future of software development and IT outsourcing. Let’s try to predict these trends and get prepared for them today.