This document discusses software as a product and the software industry. It covers topics such as why software is important, emerging technologies according to Gartner's hype cycle from 2005-2010, software being an industrial product, the size of the worldwide software industry, different types of software including embedded software and software as a service. It also discusses software components, software architecture and engineering issues, producing software is difficult due to complexity, low productivity in the industry, the software development process, different process models, lifecycle differences around the world, development activities, process models, and software standards.