The US computer software sales market has experienced significant fluctuations over the past decade. From 2013 to 2017, the market saw a strong upward trend with a high compound annual growth rate (CAGR) peaking at 14.45%. This growth was disrupted momentarily in 2018 by a slight dip. Despite a rebound, the market suffered a sharp decline in 2020, dropping by 58.08% year-on-year due to likely external shocks. However, this was followed by a dramatic recovery in 2021 with a 166.45% increase. As of 2023, the market showed steady growth, standing at $20.42 billion, with a 3.96% year-on-year variation and a 4.52% 5-year CAGR.
Future trends to watch for include:
- Steady growth projected from 2024 to 2028 with forecasted 5-year CAGR of 2.84%, indicating a stable market recovery and expansion.
- Continued digital transformation across industries driving corporate and consumer software demand.
- Potential impacts of emerging technologies such as artificial intelligence, machine learning, and quantum computing on software innovation and sales.
- Market technology disruptions and potential economic fluctuations which may impact year-on-year variations.
