The software development industry is one of the fastest-growing industries of our time. As the demand for technology and automated services grows, so does the need for high-quality software developers. These software development statistics shed light on just how influential the software development market is across the world.
Software Development Market Statistics 2023
- There are currently 26.9 million software developers in the world. 4.3 million are located in the US.
- The majority of software development projects are building enterprise applications (84.7%). This is followed by business automation (53.6%) and E-commerce (38.50%).
- In 2020, the software development market was worth over $390 billion.
- It is expected to reach $1039 billion by 2027. That’s a CAGR of $25.54% from 2020 to 2027.
- It is reported that 54% of software engineers are more productive when they work from home.
Software Developer Demographic Statistics 2023
- Washington State has the highest-paid software engineers in the country ($105,406 per year). They also have the highest percentage (6.42%) of engineers compared to any other state.
- The average age of a software developer is 39.8 years old.
- 54.2% of developers in the US are white.
- Only 25% of software developers hold a degree in computer engineering or computer science.
- 33% of the global tech market is in the United States.
- Germany has the highest number of software developers (837,398) out of any country in Europe.
Software Development and Tools and Technology Statistics 2023
- 77% of software developers would choose to use PHP if they could.
- For project management, JIRA is used by almost 50% of all software development teams.
- Selenium is the most popular testing software (38.5%), followed by JMeter (30.8%) and Agile Load (23.1%).
- 61.5% of development teams use the Agile method, while 23.1% use scrum and 9.6% use the waterfall method.
Time and Cost of Software Development Statistics 2023
- The average company needs to use 63% of its software development budget to design and build new software.
- Nearly 1 in every 4 companies outsources their software development project. The main reason is cost, although flexibility, speed to market, and access to tools also influence the decision.
- For those that outsourced development, only 17.8% were absolutely satisfied with the work.
- The average software development project takes 4.5 months to build and costs $36,000.
- 23% of projects cost over $60,000 to build.
- After being built, the cost to maintain the software is roughly 15% – 20% of the initial built cost.
Software Development Trends and Insights 2023
- By 2024, there are expected to be 28.7 million software engineers in the world.
- The number of software developers is anticipated to grow by 22% by 2029.
- With a 43.5% job satisfaction level, the gaming industry has the highest number of happy software developers.
- HR managers claim that a willingness to learn is the most important criterion they look for in new hires (40.7%). 38.6% want someone who’s a cultural fit, while 34.4% base their decisions on technical evaluation.
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What percentage of software developers are women?
In the US, approximately 15% of software engineers are female. India has the highest proportion of female developers (22.9%), followed by the United Arab Emirates (21%) and Romania (20.6%).
What percentage of a software development budget should be testing debugging?
The time and effort to test your software depend on many factors, including the size of the project. Small projects might allocate 20% of the timeline to software testing services, while larger projects may take up around 40%.
What is the current demand for software developers?
The software development industry is one of the fastest-growing sectors in business. By 2028, the demand for future engineers is expected to be 21% higher than it is today. That’s 5% more than any other occupation in the country!
Our future will be inevitably shaped by the software development industry. As it continues to grow and expand, we can anticipate seeing many more technological advances coming our way.
Code Like a Girl