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Software industry has $1 trillion economic impact in U.S.

Staff writer ▼ | June 16, 2016
A new report shows that the overall impact of the software industry is roughly $1 trillion.
Programming in America   Some 10 million worked in software sector
Software companies grew at nearly twice the rate of the U.S. economy in the last 10 years. By 2014, some 10 million worked either in software or in a job supported by the sector.

“More than ever, software is an extremely influential part of our nation’s economic fabric,” Victoria Espinel, president of the Software Alliance, said in a statement.

While the total size and scope of the software sector has expanded drastically in the past decade, creating behemoths like Facebook and Google along the way, employment gains have not been as robust.

Direct economic contributions from the software industry grew by 78 percent from 2004 to 2014. Over the same period, the number of jobs in software increased just 39 percent.

That is, employment in the industry grew only half as fast as the industry itself.