Historically, more efficient technology has led to a greater demand. It began with more efficient steam engines that required less coal for the same amount of work. That didn’t lead to a reduction in demand for coal, instead the acceleration in demand for coal changed the world.

However you measure it, in LOC or in MB or in ops per second, demand for more software always seems insatiable. This trend will likely continue up until software can be produced with zero humans at all. But I can’t see that happening unless we invent actual real artificial intelligence.