Statistics on software development to take into account in 2024

July 05, 2024

Tags: IT Staff Augmentation
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As we move toward 2024, the software development landscape continues to evolve at a dizzying pace. Emerging technology trends, changes in market demands, and advances in development tools and methodologies are redefining the way companies create, deploy, and maintain software.

 

Understanding key software development statistics is not only crucial for IT leaders and developers, but also for any organization seeking to remain competitive and relevant in the digital economy.

 

From the adoption of new technologies to trends in cybersecurity and demand for programming skills, these statistics provide a comprehensive view of where the sector is headed and how companies can prepare for the future.

 

software development

 

Statistics on software development to take into account in 2024

  • Business software market will continue to grow

“In 2023, IT spending on enterprise software amounted to about US$913 billion worldwide, representing a growth of 12.4 percent from the previous year”, they explained in a Statista report.

 

The year-on-year growth of the business software market is more than 10%, which positions it as the fastest growing segment in the IT industry, so we see that it is a trend that is far from dying.

 

  • CRM and ERP software will generate more than 100 billion in revenue

Companies are increasingly adopting CRM software to analyze and improve business interactions with their customers and it is expected to generate more than $55 billion in sales by 2024, according to the same Statista report. Another of the most deployed business systems is ERP software, which focuses more on the collection and management of business data, and is expected to generate another $107 billion in overall revenue by 2024.

 

software development

 

  • User investment in mobile applications increased 5% in the first quarter of 2024

Mobile devices are taking on a greater role as the days go by, due to the universe of possibilities they offer. This is reflected in the statistics shared by Statista, since in the first quarter of 2024 user investment in mobile applications amounted to 35 billion dollars, an increase of almost 5% compared to the same quarter of 2023 .

 

“Between 2019 and 2021, consumer spending on mobile apps has seen a steady increase. In 2023, total consumer spending on mobile apps was approximately US$171 billion”, Statista noted.

 

  • In 2024 there will be 3.2 million more developers in the world

Every year more and more technology professionals join the industry, attracted by the growth and innovation of the technological area. And according to Statista projections, it is expected that by 2024 there will be 28.7 million software developers, an increase of 3.2 million compared to the figure observed in 2020.

 

  • The United States and India remain leaders

When talking about the number of software developers, the highest concentration of them is located in the United States and India (18.33% and 12.61%, respectively), followed by Germany (6.72%) and the United Kingdom. Kingdom (5.37%), cited in Outsource Accelerator.

 

  • The biggest challenge remains adapting to changing customer demands

“53.80% of participating companies agreed that adapting and meeting these changing customer requirements poses the biggest challenge for the developer team. This expansion of the scope leads to an expansion of the characteristics of the project, which requires new development or remodeling”, they detailed in a GoodFirms report.

 

software development

 

  • Agile methodologies are the most widely used

Agile software development has been widely adopted by companies in the industry: 61.50% of the businesswomen surveyed stated this. This methodology works through increments and iterations to carry out a project as quickly and efficiently as possible.

 

For businesses, keeping up with these changes is critical to remaining competitive and relevant in an ever-evolving digital environment. By incorporating these statistics into their strategies, organizations can anticipate challenges, seize new opportunities, and optimize their development processes. Ultimately, being well informed and adapting to these changes will not only drive innovation and efficiency, but will also ensure sustainable and successful growth in the future of software development.

 

Do you need a software development team for your next project? At Rootstack, we have +14 years of experience supporting companies in their digital transformation. Contact us.

 

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