Software development is growingly swiftly and has transformed into the multi-billion industry that it is today. Although top software development companies such as Microsoft and IBM are providing top-of-the-line software development services, independent professionals working for emerging brands are developing solutions customized to the needs of companies. This has created a viable alternative to licensing popular software suites such as Microsoft Office and Adobe’s creative cloud.
The custom software development services industry has accumulated revenues of $193 billion, with a growth of over 3.6% between the period of the year 2010-2015. The industry is intensively technological and is grouped geographically. The reason is that a significant part of the workforce in the software development industry come from reputed institutions spread across multiple countries and continents.
However, places such as Massachusetts, Texas, and California are growing prominently in terms of housing the best in the Software development industry. California itself has 24% of the industry's workforce, and the majority among them find work in the Silicon Valley region outside of San Francisco.
The demand for custom software development companies for services such as website development and mobile application development, is largely driven by accelerated technological advancements, and one-third of the investments pumped in this industry depends on the state of the US economy.
- The sector has outperformed every other sector since 2003.
- The software development sector witnessed a real annual growth rate of 14% in 2007.
- Approx 542 billion dollars were spent on software in 2013, this constituted 25% of the overall spending on IT.
- As of 2012, the market for development software worldwide had a valuation of nearly $ 82.2 billion. As per IDC, income from subscriptions, including SaaS, is estimated at a compound annual growth of 175%, reaching 24% of cumulative software revenues in 2016.
There are myriad unique business opportunities in software development, and most of these are still uncharted territories! Software packages are now frequently used in virtually every aspect of the business; from marketing, administration, health, technology, and even in everyday life. The software development companies and the entire industry here to stay and it’s largely thanks to the community of developers and dedicated companies investing in improving and innovating software technology to make lives easier.
These are the crucial aspects of software development which might influence your business in 2019:
- Software development
- System analysis
- Software engineering
- Database management
- Project management
- Quality assurance and testing
Well, to start with, we’ll have to bring in the broader concept of software development itself. Only skilled hands win the races in this sphere and will reach peaks of software product development as per client requirements. There are enormous opportunities for Software developers because:
A- Top software development companies are always looking for new emerging skilled and creative hands.
B- Even the most skilled developers today need to continuously learn and adapt to the ever-changing world of the Internet, increasing power of the hardware and the consequent need for better and more-feature loaded software to run all of it. This is the perfect age and time to delve into the realm of computer science and software development.
To meet standard requirements every company needs people to analyze projects and ensure the proper and bug-free functioning of every software product. Analysts implement software programs on compatible systems and work with potential end users to achieve the desired results.
Software engineers or software developers in India work on complex software packages. They check errors in the programming code and repair them as per the necessities. In 2004, an investigation was conducted by the US Bureau of Labor Statistics, which revealed that there are 760,840 software developers for hire who occupying jobs in the US alone. The number continues to increase progressively to this day.
Database administrators maintain and manage the database on which software developers usually work on. It requires high levels of intelligence and diligence and this is the reason why database administrators receive a generous pay cheque.
Quality assurance and Testing
It Involves testing the quality of software functions and its standards. Quality assurance and testing is a significant part of the software development process. As it is what ultimately ensures that the end users of the software receive a trouble-free experience, and reduce possibilities of major bugs and deficiencies in the developed product.
Project managers in the software product development process are responsible for managing software project plans, allocating budgets for development among others. Needless to say, but this opportunity requires good management skills.
These are the top software development roles and functions likely to influence the growth of the industry, the paths of any top software development company and the emerging crop of software developers. If you’re a business owner willing to invest in software development, the time now is perfectly ripe.
This is a billion-dollar software industry that grows every day. With technologies such as Machine Learning, Big data analytics, iot development, and blockchain development forcing everyone to adapt; things aren’t going to settle down anytime soon in this battlefield, so now is indeed the right time.