Employment in the US software publishing industry has shown a notable upward trend from 2013 to 2023, with the number of full-time equivalents increasing from 310.0 thousand to 566.0 thousand, representing a Compound Annual Growth Rate (CAGR) of 4.23% over this period. Notably, year-on-year growth has varied, peaking at 10.65% in 2019 before stabilizing to more moderate increases, such as 3.1% in 2023.
Future trends in the industry indicate a continuation of growth, albeit at a slower pace, with a forecasted 5-year CAGR of 2.07%, projecting employment to reach 646.0 thousand by 2028. Key drivers for this trend could include technological advancements, changing software development methodologies, and an increasing reliance on software solutions across various sectors.
Trends to watch for:
- Impact of artificial intelligence and machine learning on productivity and employment.
- Shifts towards cloud computing and SaaS models.
- Increasing importance of cybersecurity and data protection roles.
- Remote work trends and their effects on employment distribution.
