How Software Development Promote Economic Growth

How Software Development Promote Economic Growth
The economy is leaning to the rise of modern technology in order to bring both capital and profit to all economic players. From businesses to corporate establishments, the use of computing and Best Online Web Editors has its own capacity to leverage the operations and productions of every economic organization in the country. Software development is a skill that becomes a profitable technology when used to produce more goods and services and organizing all processes in the industry.

What is Software Development?

This is the technology behind the development of software, including the creation, specification, optimization, and even maintenance of its operative parts and functions. This is where software is built in order to meet expectations of end-users and leverage work through enhanced computing and fulfillment of inputs and outputs placed and received on a computer or any computing machines and devices.

How Software Development Supports Businesses and Industries

The integration of software development in businesses and industries begin with the use of software to operate machines and other production hardware. This technology has also evolved ever since the integration of Charles Babbage’s analytical engines that drove the Industrial Revolution to a major overhaul of human computations and evolution of the workforce in terms of reliance on machinery than manpower for the most intricate jobs.Softwares are becoming one of the most important assets any business can have to operate and profit. While we are all acquainted with the use of Office software for all our typing and documentation needs, more software is developed in order to meet other industrial demands. However software advance to meet its generation’s demands on technology, software development is a key player in leading industries toward the future.

Economic Growth through Software Development

Economists have recorded an all-time high economic growth of up to US$1.14 trillion in 2017, which is a 6.4% increase since 2015. The integration of Artificial Intelligence (AI) and, eventually, the Internet of Things (IoT) alongside the development of smartphones and portable workspaces contributed to the increase in the US GDP in the past two years.The shift of working spaces to become home-based and office-based also signify more job opportunities and more production of goods and services, which adds to the GNP and GDP rating of a country. Governments are also looking towards investment in software development alongside major and minor corporations and other economic players to move the economy forward.


Software development in the third millennium is a vital part of running a business and maintaining an industry. Computers and other high technology machines rely solely on software development for computation, mobility, and other functionalities. More than that, such development also moves workforce and creates jobs while this is in demand in almost all types of businesses. This moves the economy forward and affects all economic factors in a community and, respectively, the country. The capacity of software development is so immense that researchers and analysts are reporting this skill and technology to be the key to a better economy and the future of a community, locality, and the country.

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