Operators in the Software Publishing industry design, develop and publish software.
Industry revenue expanded rapidly over the five years to 2021, as businesses and consumers increased their investment in software, computers, smartphones and video games.
Rising private investment in computers and software stimulated demand from businesses, while higher consumer spending encouraged consumers to spend on software as well.
Moreover, new internet-based solutions and the increasing popularity of mobile devices have triggered an explosion of mobile software applications.
Industry revenue is estimated to rise at an annualized rate of 7.8% to $396.7 billion over the five years to 2021.
In 2020, the industry encountered remarkable revenue growth of 12.6%, as the COVID-19 (coronavirus) pandemic incentivized businesses to increase spending on software for remote operations and consumers increased spending on social and entertainment software offerings.
Revenue is anticipated to rise 3.3% in 2021.