Press release
Cybersecurity Concerns Drive Expansion in Programming Software Market to $3.63 Billion with 15.5% CAGR Growth
Programming Software Market Report
Programming Software Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $3.63 billion In 2028 At A CAGR Of 15.5%:
The programming software market size has grown rapidly in recent years. It will grow from $1.77 billion in 2023 to $2.04 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. The growth in the historic period can be attributed to personal computing, agile methodologies, introduction of high-level programming languages, graphical user interfaces (GUI), object-oriented programming (OOP).
The programming software market size is expected to see rapid growth in the next few years. It will grow to $3.63 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%. The growth in the forecast period can be attributed to rising emergence of new programming languages, rising demand for mobile development, rising cybersecurity concerns. Major trends in the forecast period include programming languages evolution, advancements in hardware, operating system development, open source movement, mobile computing.
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Programming Software Market Major Segments
The programming software market covered in this report is segmented -
1) By Product Type: Cloud Based, On-Premise
2) By Application: Large Enterprise, Small And Medium-Sized Enterprises
3) By End Users: Information Technology And Telecommunications, Banking, Financial Services, And Insurance, Other End Users
Key Driver - App Development's Impact on Programming Software Market
An increase in the number of app development is expected to propel the growth of the programming software market going forward. App development refers to creating software applications specifically designed to run on mobile devices or other platforms such as desktop computers or web browsers. With the widespread adoption of smartphones and tablets, there is a growing demand for mobile apps to cater to various needs, from communication and entertainment to productivity and business services. Programming software offers syntax highlighting, code completion, and code templates that help developers write code faster and with fewer errors. For instance, in August 2023, RipenApps Technologies, an India-based digital transformation company, the global consumer spending on mobile applications has touched $129B as of 2022. Therefore, an increase in number of app development is driving the growth of the programming software market.
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Prominent Trend - Innovation With AI Coding Assistants To Drive Revenue Growth
Major companies operating in the programming software market are focused on developing innovative products such as AI coding assistants to enhance developer productivity, improve code quality, and streamline the app development process. AI coding assistants are software tools designed to assist developers in writing, reviewing, and debugging code using artificial intelligence techniques. These assistants leverage machine learning algorithms, natural language processing (NLP), and code analysis to provide intelligent suggestions, automate repetitive tasks, and improve overall coding productivity. For instance, in February 2024, GitHub Inc., a US-based online platform that lets programmers write, save, organize, and distribute code, launched GitHub Copilot Enterprise. It is an AI coding assistant that can provide code recommendations, respond to inquiries, and compile modifications based on the company's standards and codebase. It boosts productivity and code quality while maintaining control and compliance within their development workflows.
Programming Software Market Players
Major companies operating in the programming software market are Microsoft Corporation, Amazon Web Services Inc., International Business Machines Corporation, Oracle Corporation, SAP, Salesforce Inc., Adobe Inc., Intuit Inc., Autodesk Inc., Red Hat Inc., Atlassian Corporation Plc, Ansys Inc., PTC Inc., Tableau Software Inc., MathWorks Inc., Unity Software Inc., Epic Games Inc., ThoughtWorks Inc., Slack Technologies Inc., Altair Engineering Inc., GitHub Inc., JetBrains Inc., Chef Software Inc., Docker Inc., Puppet Labs Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the programming software market in 2023. The regions covered in the programming software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Programming Software Market Report Structure
3. Programming Software Market Trends And Strategies
4. Programming Software Market - Macro Economic Scenario
5. Programming Software Market Size And Growth
…..
27. Programming Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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