Look at software development at the most basic level. It is part engineering and part workmanship. The end objective is to engineer quality code; the engineering part focuses on process and efficiency and the quality part stresses innovation. Grady Booch, chief scientist at Rational Software Corp., says- "Software development is fundamentally hard. And being a human process, we have to consider what are the things that eat away at our ability to focus on delivering good software. That might be project start-up costs, collaboration costs, stakeholder collaboration, technology churn ... and the activities of a code warrior that have nothing to do with quality code."
As an activity, software development will outlast the technology industry. Therefore, the market for software development will persist, despite economic ups and downs. During period of economic busts, software development will get postponed, but it will return with a throttle effect when the economy recovers.
A recent ExecutiveBrief 2011 Software Development Trends Survey indicates continued market stability and confirms the respondents` increasing optimism on the immediate future: Seventy-nine percent (79%) of respondents indicated their software development budgets would increase in 2011; with nearly half indicating their budget is likely to grow greater than 10% as compared to last year. Only 5.2% believed their 2011 budget would decrease by 10% or more as compared to 2010.