USA Software Market Statistics and Future Trends for 2024

Introduction

The USA software market is poised for significant growth and technological advancements in 2024, with a focus on enterprise software and its impact on various sectors. This comprehensive analysis delves into market trends, key factors driving growth, and the emergence of new technologies shaping the industry.

Software market statistics for the USA in 2024

The United States is expected to generate the most revenue in the global software market, reaching USD 353.50 billion in 2024.
33% of the global tech market is in the US, with 67% of technology spending taking place overseas, indicating the global appeal and demand for tech products and services.
84.7% of software development projects in the US are based on enterprise applications, with 53.6% based on business automation and 38.50% on eCommerce.
The employment of software developers in the US is projected to grow by 22% by 2029.
54% of software engineers claim to be more productive when they work from home, which is a significant trend as the world transitions towards returning to the office culture.
The cost of software development projects in the US ranges from $3,000 to $150,000, with complex software development costing up to $1 million.
The median annual salary for experienced software developers in the US is $107,090.
By 2024, the IT sector in the US is expected to surpass its pre-pandemic position, boasting an estimated Compound Annual Growth Rate (CAGR) of 5%.
The software development market in the US is expected to reach $1039 million by 2027 with a CAGR of 22.54% from 2020 to 2027.
The employment of software developers in the US is expected to grow by 22% by 2029.
In the US, 84.70% of surveyed companies specialize in developing Enterprise Applications for clients, while 53.90% take on software projects focused on business process automation.
Approximately 15.40% of companies in the US provide Customer Relationship Management (CRM) software solutions.
38.50% of the surveyed developers in the US are involved in back-end software development and front-end web app development solutions for eCommerce owners.
Amazon’s operating profit margin expanded to 5.9%, driven by Amazon Web Services (AWS), indicating the significant growth and impact of cloud services on the US software market.
94% of enterprises in the US use cloud services, and the public cloud infrastructure is set to grow by 35% by the end of 2021, highlighting the widespread adoption and growth of cloud computing technology.
50% of new business systems in the US are projected to use real-time data to improve decision-making by 2022, indicating the increasing focus on real-time data and analytics in the US tech industry.
The global digital transformation market in the US is expected to grow at a compound annual growth rate (CAGR) of 24 percent from 2021 to 2028, emphasizing the significant growth and demand for digital transformation services in the US.
The worldwide DevOps-based software market is estimated to reach $8 billion by the end of 2022, highlighting the increasing investment and market size of DevOps practices in the US.
The estimated tech budget growth for 2022 in the US is 6.7%, indicating the substantial investment and growth potential in the US tech industry.
90% of ITDMs in the US say observability is important to the organization, but only 26% consider themselves to have a mature observability practice in place, highlighting the growing focus on observability and the need for improvement in this area within the US tech industry.

Future Trends

Cloud Computing

The increasing adoption of cloud computing is a prominent trend in the software industry. Businesses and institutions are transitioning to cloud-based infrastructure, recognizing its value and impact on operational efficiency and scalability. Major players such as Google, Amazon, and Microsoft are enabling widespread access to cloud computing solutions, driving this trend.

The Monopoly of AWS Faces Challenges

Despite being an early leader in global public cloud infrastructure, Amazon Web Services (AWS) faces increased competition from other providers such as Microsoft Azure and Google Cloud Platform. This trend signifies a shift in the market dynamics and the emergence of alternatives to established cloud infrastructure services.

Augmented Reality and Virtual Reality (AR/VR/MR)

The AR, VR, and MR technologies are gaining momentum, with applications expanding across various industries such as healthcare, transportation, education, retail, and finance. These technologies are expected to have a substantial market worth of 250 billion dollars by 2028, fostering innovation and growth in the software market.

No-Code Development

The demand for software development solutions continues to rise across various industries, leading to the emergence of no-code development platforms. These platforms simplify the software development process, making it more accessible and efficient for businesses seeking digital solutions.

DevSecOps

The integration of security practices throughout the software development lifecycle is a noteworthy trend. DevSecOps emphasizes security from the initial stages of development, aligning with best practices and enhancing the overall security of software solutions.

Trending Software Companies

Notable software companies driving innovation and market influence in the USA include Microsoft, Adobe, SAP, Oracle, and Salesforce. These companies are at the forefront of technological advancements and are pivotal in shaping the software landscape in 2024.

Best Software in Niche

The enterprise software market encompasses various types of software solutions tailored to specific enterprise needs. Here are the specific software names for each category:

Customer Relationship Management (CRM): Salesforce, HubSpot CRM, Zoho CRM
Enterprise Resource Planning (ERP): SAP, Oracle NetSuite, Microsoft Dynamics 365
Business Intelligence (BI): Tableau, Microsoft Power BI, QlikView
Supply Chain Management (SCM): SAP SCM, Oracle SCM Cloud, Infor SCM
Web Conferencing Collaboration/Social Software Suites: Microsoft Teams, Zoom, Slack
Other Software tailored to specific enterprise needs: Adobe Experience Manager, IBM Maximo, ServiceNow

Conclusion

The USA software market in 2024 exhibits promising growth and technological advancements, driven by the adoption of cloud computing, the rise of AR/VR/MR technologies, and the increasing demand for no-code development solutions. With leading software companies and a focus on enterprise software solutions, the future of the USA software market looks promising and poised for further innovation and expansion.

Resources:
https://radixweb.com/blog/software-development-statistics
https://ubiminds.com/en-us/us-tech-talent-market-stats/
https://www.statista.com/outlook/tmo/software/united-states