The software development market constantly grows with technological advances and the latest in education, marketing, enterprise, and accessibility. <\/p>\n\n\n\n
According to the Business Research Company<\/a>, 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.<\/p>\n\n\n\n Software developers and new software applications<\/a> are growing along with the rise in organizations, industries, and sectors reliant on software. <\/p>\n\n\n\n Discover how software development is dominating the world of technology with these must-know software development statistics today.<\/p>\n\n\n\n As of 2022, firms specializing in customized software development have reached over 21,500.<\/a> These vary from small vendors with less than 50 experts in-house to midsize companies with more than 50 specialists. <\/p>\n\n\n\n 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.<\/p>\n\n\n\n By 2024, the global developer population is expected to reach 28.7 million<\/a>, an increase of 3.2 million compared to 2020. In a 2020 study, the demand for software development outsourcing among companies has reached 70%<\/a>, and 57% of organizations stated that outsourcing has helped them focus more on other components of their businesses. <\/p>\n\n\n\n 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. <\/p>\n\n\n\n Read more about the significant changes in the software development industry.<\/p>\n\n\n\n (Future Processing, Statista)<\/p>\n\n\n\n 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. <\/p>\n\n\n\n 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. <\/p>\n\n\n\n (Statista)<\/p>\n\n\n\n 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.<\/p>\n\n\n\n (Investopedia)<\/p>\n\n\n\n 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<\/a>, tablets, and video game<\/a> consoles.<\/p>\n\n\n\n Other big companies on the top list include: <\/p>\n\n\n\n (Stack Overflow, Evans Data)<\/p>\n\n\n\n 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%). <\/p>\n\n\n\n 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. <\/p>\n\n\n\n (Truelist)<\/p>\n\n\n\n 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. <\/p>\n\n\n\n (Truelist, Payscale)<\/p>\n\n\n\n According to a survey of over 1,000 engineers, the 4 top paying companies are Google, Apple, Facebook<\/a>, and Amazon. On average, engineers receive $81,000 annually from these companies. <\/p>\n\n\n\n For entry-level software developer roles, the top 5 high-paying companies:<\/p>\n\n\n\n 1. Two Sigma ($267,500 total compensation)<\/p>\n\n\n\n 2. Stripe ($265,600)<\/p>\n\n\n\n 3. Instacart ($245,000)<\/p>\n\n\n\n 4. Roblox ($234,250)<\/p>\n\n\n\n 5. Snowflake ($231,250)<\/p>\n\n\n\n For senior-level roles, the top 5 best-paying companies:<\/p>\n\n\n\n 1. Databrick ($580,000)<\/p>\n\n\n\nEditor\u2019s Choice<\/strong><\/h3>\n\n\n\n
\n
2023 Important Software Development Stats<\/strong><\/h2>\n\n\n\n
Software Development Demographics <\/strong><\/h3>\n\n\n\n
1. Around the world, there are about 26.9 million software developers.<\/strong><\/h4>\n\n\n\n
2<\/strong>. 91.88% of software developers are men. <\/strong><\/h4>\n\n\n\n
3<\/strong>. Microsoft is currently the largest software company in the world, with a total revenue of $203.08 billion.<\/strong><\/h4>\n\n\n\n
\n
4.<\/strong> The leading countries with a high software developer population are the U.S. and India, with 18.33% and 12.61%, respectively. <\/strong><\/h4>\n\n\n\n
5. 39.52% of software developers are young professionals between 25 and 34. <\/strong><\/h4>\n\n\n\n
6. In the U.S., the annual average salary of software developers is $73,967. <\/strong><\/h4>\n\n\n\n