15 Must-Know Software Development Statistics for 2024
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The software development market constantly grows with technological advances and the latest in education, marketing, enterprise, and accessibility.
According to the Business Research Company, the CAGR of global software development rose to 28.4%. 2023 is currently seeing the highest market size of $334.86 billion, up from $260.79 billion in 2022.
Software developers and new software applications are growing along with the rise in organizations, industries, and sectors reliant on software.
Discover how software development is dominating the world of technology with these must-know software development statistics today.
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- There are approximately 26.9 million software developers globally.
- 91.88% of software developers are men.
- Microsoft had a total revenue of $203.08 billion, making it the largest software firm in the world.
- The countries with the leading software developer population are the U.S. and India, with 18.33% and 12.61%, respectively.
- 39.52% of software developers are young professionals aged 25 to 34.
- The annual salary rate of software developers in the U.S. is $73,967.
- Among the commonly used programming languages, JavaScript is the top preference of 65% of software developers.
- 61% of software developers prefer to use the Windows operating system.
- The average time spent on every customized software development project is 4.5 months.
- Software development can cost between $70,000 to $250,000.
2023 Important Software Development Stats
As of 2022, firms specializing in customized software development have reached over 21,500. These vary from small vendors with less than 50 experts in-house to midsize companies with more than 50 specialists.
The increasing number of businesses that leverage technology in their operations also leads to the growth of software engineers and developers worldwide. Software development firms offer solutions to companies that provide information technology, e-commerce, health, media, education, and real estate services.
Software Development Demographics
By 2024, the global developer population is expected to reach 28.7 million, an increase of 3.2 million compared to 2020. In a 2020 study, the demand for software development outsourcing among companies has reached 70%, and 57% of organizations stated that outsourcing has helped them focus more on other components of their businesses.
Amidst the rising demand for software development, learn more about what industries use and produce it and how software products help companies boost marketing and commerce.
Read more about the significant changes in the software development industry.
1. Around the world, there are about 26.9 million software developers.
(Future Processing, Statista)
Much of this growth is to be observed in China, where the growth rate is between 6% to 8% heading up to 2023. This is due to 1 in every 10 Chinese students majoring in computer science.
Many companies in the U.S. are outsourcing talents from China, India, and Europe. Data also shows that by 2026, there will be 1.2 million unfulfilled software development jobs in the U.S.
2. 91.88% of software developers are men.
(Statista)
Given the industry’s glaring disparity, most software developers are men. In the U.S., males dominate the population of software developers. At the same time, women only occupy 5.17%, with the rest of the developers identifying as queer, non-binary, gender non-conformist, and more.
3. Microsoft is currently the largest software company in the world, with a total revenue of $203.08 billion.
(Investopedia)
Microsoft leads the software industry in providing Windows computer operating systems software, Office applications suite, and the Azure cloud computing service. This tech giant also dominated in developing server and mobile applications, tablets, and video game consoles.
Other big companies on the top list include:
- Oracle Corp: $46.07 billion revenue
- SAP: $32.97 billion
- Salesforce: $30.29 billion
- Adobe: $17.61 billion
- Block: $16.96 billion
- Intuit: $13.32 billion
- VMware: $13.17 billion
- Adyen: $8.14 billion
- ServiceNow: $6.92 billion
4. The leading countries with a high software developer population are the U.S. and India, with 18.33% and 12.61%, respectively.
(Stack Overflow, Evans Data)
Most software developers are in the U.S. (18.33%) and India (12.61%). These countries are followed by Germany (6.72%) and the UK (5.37%).
According to the study by Evans Data Corporation, the Asia-Pacific Region has the most robust growth in terms of software developer population, followed by the Latin American region.
5. 39.52% of software developers are young professionals between 25 and 34.
(Truelist)
Due to the attractive and accessible nature of software development, much of the younger generation has explored building a career in the skills-based tech industry. Many software development learning tools are also more accessible to the younger generation. One can access a video tutorial from video streaming sites in just one click.
6. In the U.S., the annual average salary of software developers is $73,967.
(Truelist, Payscale)
According to a survey of over 1,000 engineers, the 4 top paying companies are Google, Apple, Facebook, and Amazon. On average, engineers receive $81,000 annually from these companies.
For entry-level software developer roles, the top 5 high-paying companies:
1. Two Sigma ($267,500 total compensation)
2. Stripe ($265,600)
3. Instacart ($245,000)
4. Roblox ($234,250)
5. Snowflake ($231,250)
For senior-level roles, the top 5 best-paying companies:
1. Databrick ($580,000)
2. Netflix ($550,000)
3. Rippling ($500,000)
4. Roblox ($500,000)
5. Snowflake ($453,000)
7. 65% of software developers prefer Javascript to other programming languages.
(Statista)
With 12.4 million users worldwide, software developers love JavaScript because of its efficiency, ecosystem, testing, and structure.
Other programming languages used by experienced software developers include HTML/CSS (55.08%), SQL (49.43%), Python (48.07%), and TypeScript (34.83%).
8. The Windows operating system is the top choice among software developers, where 61% of them preferring to use it.
(Statista)
Software developers use the Windows operating system more than Apple’s macOS (47%) and Linux (44%). Developers prefer Windows for coding because of its features that support many programs and languages and various customization and compatibility options.
Statistics on Time and Cost of Software Development
Like any other profession, the time and cost of developing software vary from a developer’s expertise to the program’s complexity.
Get to the facts and statistics on how long and how much software developers cost to create a single project.
9. The average time spent on every customized software development project is 4.5 months.
(Don’t Do It Yourself)
Depending on the software, it takes 1 to 9 months for developers to finish a project. On average, 38.50% of agencies can complete software development projects in 2-4 months.
10. Software development can cost between $70,000 to $250,000.
(CleverDev Software, Do it Software)
The estimating factors in determining the price ranges of software development projects are:
- application types and complexity
- platforms
- additional features
- UI/UX design
- approved schedules, budgets, and timelines of companies
Software development is lengthy and requires particular expertise in planning, coding, designing, and integrating features.
For every software development project, the average estimated costs are
- Content Management System – $20,000 to $50,000
- Customer Relationship Management System – $100,000
- Enterprise Resource Planning Systems – $150,000 to $500,000
- eCommerce Solutions – $20,000 to $70,000
- Supply Chain Management Solutions – $100,000 to $300,000
Trends, Insights on Software Development
According to Grand View Research, the software development market will continue to grow at 11.9% until 2030. Many companies and businesses prioritize efficiency, growth, and productivity.
Investment in software is increasing as companies that offer various services, such as automation and financial services, continue to innovate.
Here are current trends and insights on software development and its industry.
11. 24% of executives outsource software development to remain competitive in the business landscape.
(Datamart, Up Tech)
Companies outsource their software development to reduce costs, access a diverse talent pool, achieve time efficiency, increase the flexibility of scaling projects, and reduce risks.
Different sources of software development also add value to businesses by increasing productivity, boosting marketing efforts, and building long-term relationships with client Among surveyed software development companies, 84.70% develop enterprise applications for clients.
12. Among surveyed software development companies, 84.70% develop enterprise applications for clients.
- 12. Among surveyed software development companies, 84.70% develop enterprise applications for clients.
(GoodFirms)
Nowadays, many companies and businesses ask software developers to create systems that help them build better relationships with their customers. These include companies that focus on client-based products and services.
Many consumers also rely on advanced technology for advertising, shopping, and general services.
13. 53.90% of software development agencies have developed software projects for business process automation (BPA).
(GoodFirms)
Through software development for business processes, all operations are streamlined to increase the quality of services, minimize costs, and simplify complex tasks.
It also allows companies to improve the accuracy and efficiency of their workflow. For example, BPA makes employee onboarding and marketing automation easier
14. 15.40% of software development agencies said they develop systems for customer relationship management (CRM).
(GoodFirms)
A great CRM system strengthens the company’s relationships and interactions with customers and potential customers.
Additionally, it can be applied to comprehend consumer behavior through their preferences, viewpoints, and purchasing patterns, giving businesses the power to deliver the ideal offerings.
15. 89% of customers switch to businesses that offer better user experience and engagement.
(FinancesOnline)
Companies are keen on providing excellent customer service by investing in new technologies and software systems. 1 in 3 customers switch brands due to lousy customer service, and 93% of consumers buy from a brand frequently that provides superior customer service.
This emphasizes that companies should continue to develop more customer-based software systems that cater to customer loyalty and consumer experiences.
Conclusion
Statistics on software development have improved over time. The need for software development from enterprises has expanded, as have the number of developers, types of software, and applications.
The software has revolutionized the workplace, enhancing customer engagement, user experience, and interactions. Innovative solutions have made corporate ecosystems more dynamic and responsive to client needs, allowing businesses to compete fiercely.
