Software Industry Growth in the United States by 2030

The field of software is developing very rapidly. Here we are not talking about years but even about days because popularity and trends constantly change due to the influence of external circumstances. Therefore, companies must closely monitor the market and needs for the user to be delighted with the obtained result.

At a time when buying software is a matter of a few clicks, creating new high-tech products is critical to staying at the top of the best companies. In 2022, this industry is estimated at 297.06 billion dollars; what will happen next? 

Three stages of software development

Before the software industry began to function as it does now, it went through several stages on its way. Conventionally, we can say that there are three such eras - the CIO Era, the Exec Era, and the End User Era. 

So, let's spill them in more detail.

The CIO Era 

The first stage of development is always unique but, at the same time, challenging. In the 1980s and 1990s, the software industry began to develop. However, the creation and acquisition of this technology were expensive because, unlike today, everything depended on a physical data center.

The Exec Era

This era represents a leap forward as technology became available to a much larger number of people. Freed from the constraints of the physical world, the industry gained room for growth. In The Exec Era, ROI and KPI defined the criteria for decision-making, and the new terms SDR and MQL appeared.

The End User Era

Finally, the modern era has arrived. APIs and other modular tools have enabled developers to build better products. Businesses can actively and productively develop with the help of such companies as MLSDev - software development company. New technologies have allowed users to get software quickly and at a reasonable price, and people working on the other side, that is, developers, do not need to create everything from scratch.

Trends to watch in the software industry

1. Perfect digital experience. 

As we said earlier, the main focus of today's industry is on the customer, so he must be completely satisfied with the result. Business analysis service allows you to identify all problems and develop a business development strategy, like those mentioned on the following page. Fixing, improving, and speeding up are the main focuses.

2. Javascript boom. 

69% of developers prefer this language and use it at work. The number of supporters will only increase.

3. Cloud computing. 

The most prominent feature of this technology is that it provides developers with virtually unlimited resources.

4. The growth of the influence of artificial intelligence.

Although the technology is not new, it still has great potential and scope for development in the coming years. Artificial intelligence helps to perform complex tasks in much less time.

5. Trends.

If you get into the wave of popularity in time, it gives a booster in terms of development because popularity grows due to interest in the product.

In Conclusion

The software industry has excellent future prospects and is helping to strengthen today's economy. In addition, the Covid pandemic has accelerated the development of the industry because the need for online areas has increased. 

According to analysts, the global business software industry will grow at a compound annual growth rate of 11% from 2022 to 2030. The Software as a Service (SaaS) market in the US alone is expected to grow from $130.69 billion in 2021 to $716.52 billion in 2028, at an average annual growth rate of 27.5%. And all this from 2021 to 2028. The numbers speak for themselves. 

For companies involved in software development, it is worth finding a balance between the way of working, the complexity of the workflow, and taking into account the user's opinion. Only in this way can success be achieved.

Author's bio: Anastasiia Lastovetska is a technology writer at MLSDev, a software development company that builds web & mobile app solutions from scratch. She researches the area of technology to create great content about app development, UX/UI design, tech & business consulting.