The software development industry is itself a multi-billion dollar and fast-changing industry today. Almost every year we see new disruptive technologies, powerful software development tools, robust programming languages, software architectures, and scalable methodologies that are evolving rapidly to enhance the functioning and security of the software.
Integration of top-notch technologies, applying new development methods to satisfy customer requirements are key indicators of where companies should focus their efforts. To lead the software industry and have an edge over competitors businesses should make the right usage of cutting edge technologies and gain enormous benefits from them.
Currently, there are numerous software development companies around the world that are geared to match the all-time high software demand.
These are the latest 2021 software development trends that will bring a new paradigm shift in the software development industry. The statistics mentioned below are divided into various aspects in relation to software development that includes software market, trending technologies, outsourcing, and remote development.
"We’ve seen two years’ worth of digital transformation in two months." ~Satya Nadela, CEO, Microsoft
So, what do you think about how big the software development market is? What will be the future of the software development industry? As businesses are adjusting themselves to after pandemic effects in 2021, it’s vital to identify the resulting changes in the global software sales and marketing landscape. Let’s check out the software development market in 2021.
Global revenue for enterprise application software will reach 209.4 billion U.S. dollars in 2020, a decline of 2.2 percent compared to 2019 due to the negative economic impact brought about by the coronavirus (COVID-19) pandemic.
The rapid rise in the volume of enterprise data and automation of business processes across several industries.
There were 26.4 million software developers in the world in 2019, a number that in 2023 is expected to grow to 27.7 million and 28.7 million in 2024.
The markets for IoT hardware, software, systems integration, and data and telecom services to grow to $520 billion in 2021, more than double the $235 billion spent in 2017."
The IT sector is currently recovering and will return to the growth trend line in 2021. It is forecast to restore and exceed its pre-pandemic position by 2024, with an estimated 5% CAGR.
The e-Commerce sphere will continue developing after Covid-19 time. Statista states that businesses will keep with the trend and by 2023 the e-Commerce market is expected to grow up to 22%, in comparison with 14.1% in 2019.
Software Developers made a median salary of $107,510 in 2019. The best-paid 25 percent made $136,320 that year, while the lowest-paid 25 percent made $82,430.
The hourly rate of a freelance software developer ranges from $25-$300 per hour.
The software development industry never stands still. The software trends evolve, fluctuate, and transform with every passing year.
Integration of top-notch technologies and frameworks, applying new development methods to satisfy customer requirements are the key indicators where companies should focus their efforts.
According to Statista, in 2019 the number of software developers in the world grew to 23.9 million, while in 2018 there were only 23 million programmers and it’s predicted to reach 28.7 million software engineers by 2024.
Forrester Research estimates RPA automation will threaten the livelihood of 230 million or more knowledge workers or approximately 9 percent of the global workforce.
The global value of the low-code development platform market is projected to be $46.4 billion by 2026, growing at a CAGR of 25% during this period.
According to the survey by Stack Overflow, Python is the first in the line of the top programming languages that developers do not know but want to learn.
Edge computing will increase as the use of the Internet of Things (IoT) devices increases. By 2022, the global edge computing market is expected to reach $6.72 billion.
The global spending on the Internet of Things (IoT) is forecast to reach 1.1 trillion U.S. dollars in 2022.
Every year comes up with some new trends shaping the outsourcing industry. Enterprises planning to cut costs and get quality development services from top-notch software development companies look for top software outsourcing.
Presently, outsourcing software development for startups, enterprises, SMBs, and businesses of all kinds acts as a lifesaver.
In 2020, the global market for IT outsourcing was estimated at $342.9 billion. The value is projected to reach $410.2 billion by 2027. (Business Wire)
McKinsey’s survey shows that 87% of organizations are already experiencing a talent shortage. The global tech talent shortage amounted to 40 million unfilled jobs in 2020. It is predicted to reach 85.2 million workers by 2030.
The IT outsourcing industry in India is expected to experience a 7.25% CAGR growth and reach INR 8,830 billion by 2025 from INR 5,649.47 billion in 2019.
According to a Deloitte survey, the top reason for outsourcing (70%) is cost reduction.
70% are currently implementing or are discussing the use of Robotic and Cognitive Process Automation to improve outsourcing results.
According to the latest statistics, the future of remote development seems promising. Due to the pandemic, software development companies worldwide had to quickly establish new patterns of team management, communication, and collaboration, so that employees could perform their duties remotely.
It has become the new normal now as most of the companies are taking a favorable attitude toward remote working.
59% of software teams have increased their productivity while working remotely.
According to Global Workplace Analytics, just 3.6% of the US workforce worked from home in 2018. Now, “Our best estimate is that 25-30% of the workforce will be working-from-home multiple days a week by the end of 2021.”
A Gartner survey of company leaders found that 80% plan to allow employees to work remotely at least part of the time after the pandemic and 47% will allow employees to work from home full-time. In a PwC survey of 669 CEOs, 78% agree that remote collaboration is here to stay for the long term.
According to FlexJobs’ survey, 95% of respondents say that their productivity has been higher or the same working from home, and 51% report being more productive when working remotely.
2.9% of the total U.S. workforce works remotely at least half of the time.
Software industry is a highly competitive industry that impacts every sector — it will only continue to grow and become more diversified with every passing year. Trending software development technologies promise to provide a wide range of opportunities to companies to grow their business one level up.
We are eager to implement these trending software development technologies into our product development process and make it more smooth and fast. We’re excited to keep publishing the software trends every year and seeing how the continuously changing trends shape the industry as a whole.