Report: Chinese Software Development to Hit $868 Billion by 2016

Researchers at IBISWorld have published a new report which predicts that China’s software development industry will grow 25 percent per year for the next four years. In 2011, the country’s application developers generated revenue of $284.02 billion, a 35 percent increase from 2010. By 2016, IBISWorld believes total revenue could hit $868 billion. Over the past five years, China’s software development industry has averaged 29.6 percent average annual growth.

According to the report, much of the steady growth for software development can be attributed to assistance and encouragement from the Chinese government. Improving technology and a demand for outsourcing are also contributing to the success of the industry.

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