Software industry to continue to grow in the US

A new report from revealed that the software industry is growing very quickly, with around 15.8 million jobs in the U.S.

Indeed, the report showed that the industry added $1.9 trillion in total U.S. value-added GDP in 2020, representing a 17.1% increase over the past two years. The industry currently employs around 3.3 million people as well as supports indirectly 12.5 million jobs.

It was also stated that the industry invested more than $103 billion in R&D in 2018, which is more than 27% of all domestic business R&D in the United States.

This major growth can be explained by the fact that the software industry played a key role during the pandemic. Indeed, it switched easily to remote working, helped manufacturers shift to producing medical and personal protective equipment, as well as helped small businesses connect with customers online.

Moreover, it was noted that the need for software skills continues to increase, along with the need for retraining programs that can provide people with the necessary skills to grow in the digital economy.