Software and Application Development - 2023 U.S. Market Research Report with Updated Recession Forecasts
The 2023 Software and Application Development Market Research Report is one of the most comprehensive and in-depth assessments of the industry in the United States with over 100+ data sets covering 2013-2026.
This Kentley Insights report includes historical and forecasted market size, product lines, profitability, financial ratios, BCG matrix, statistics by state, operating expense details, organizational breakdown, consolidation analysis, employee productivity, price inflation, pay bands for the top 20 industry jobs, trend analysis and forecasts on companies, locations, employees, payroll, and much more.
The Software and Application Development industry includes companies primarily engaged in writing, modifying, testing, and supporting software to meet the needs of a particular customer.
This report was developed utilizing the results from extensive business surveys and econometrics. Professionals utilize this report for market sizing, benchmarking, strategic planning, due diligence, cost-cutting, planning, understanding industry dynamics, evaluating opportunities, forecasting, streamlining, gap analysis, and other analyses.
Review the table of contents to see the data-rich insights, which leaders have come to depend on for their research, strategic, and benchmarking needs.
Below are a few of the hundreds of stats from the report:
In 2022, industry sales were $209 billion
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Over the past 3 years, the industry has grown at an annual rate of 8.3%
The report has historical, annual and forecasted growth rates
There are 69,267 companies in the industry
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SALES PER COMPANY
In 2022, the average sales per company was $3.0 million
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INFLATION & PRICING
2021 inflation was 4.4%
The report has historicals (2014-2022), 4 years of monthly figures, and 2023 & 5-year forecast
For unprofitable companies, the average net loss is -31.8%
The report has more on market and profitability dynamics
Employee productivity is $234,321
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3.4% of expenses is spent on health insurance
Benchmark against 24 other expense categories
In 2022, industry operating expenses grew 8.5%
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In 2022, payroll per employee was $92,434
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PAYROLL BY STATE
California averages $134,766 in payroll per employee
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JOB CATEGORIZATION BENCHMARKS
12.5% of employees in the industry are in management positions
Benchmark against 13 other job categories
JOB CATEGORIZATION PAY RANGES
The average industry hourly pay for office and administrative jobs is $24.14
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The above stats represent a small fraction of what you will find in this report.
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