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Programming Language Market Size, Share, Growth & Forecast 2024-2033 | Trends & Key Players
Programming Language Market Size
According to The Business Research Company's, The programming language market size has grown rapidly in recent years. It will grow from $163.63 billion in 2023 to $181.15 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to technological advancements, demand for specific applications, the emergence of new programming paradigms, innovations in hardware architecture, and the evolution of software development methodologies.
The programming language market size is expected to see rapid growth in the next few years. It will grow to $273.76 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to proliferation of artificial intelligence, growth in Internet of Things (IoT) devices, expansion of cloud computing services, demand for cybersecurity solutions, and rise of blockchain technology. Major trends in the forecast period include increased adoption of Rust and Go, surge in demand for low-code and no-code platforms, emphasis on functional programming languages, proliferation of language-agnostic development environments, and focus on inclusivity and accessibility in language design.
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Market Drivers and Trends:
The expansion of AI technologies is expected to propel the growth of the programming language market going forward. Artificial intelligence technologies are systems and tools that mimic human intelligence to perform tasks and can learn and adapt to new inputs or environments. The expansion of AI technologies is increasing due to their ability to automate complex tasks, improve efficiency, and provide valuable insights from large amounts of data. Programming languages provide the foundation for developing, deploying, and optimizing AI technologies, enabling their integration into various applications and industries. For instance, in January 2022, according to the Department of Digital, Cultural, Media and Sports, a UK-based governmental organization, approximately 15% of all businesses in the UK have adopted at least one AI technology, totaling around 432,000 companies. Additionally, 2% are currently piloting AI, and 10% plan to adopt AI technologies in the future, representing 62,000 and 292,000 businesses, respectively. Therefore, the increasing expansion of AI technologies is driving the growth of the programming language market.
Major companies in the programming languages market are focused on developing innovative languages, such as open-source programming languages, to meet the evolving needs of developers and businesses, foster collaboration within the developer community, and drive advancements in software development practices. An open-source programming language is a programming language whose source code is freely available for anyone to use, modify, and distribute. For instance, in February 2024, Apple Inc., a US-based technology company, launched Pickle (Pkl), an open-source programming language. Pkl is designed as an embeddable configuration language, simplifying tasks from small to large, simple to complex, and ad-hoc to repetitive configurations. Its distinctive feature bolsters compatibility with popular config formats such as JavaScript Object Notation (JSON), Extensible Markup Language (XML), and Ain't Markup Language (YAML) while emphasizing safety, scalability, and seamless coding experiences through robust validation, versatile scalability, and integration with leading IDEs.
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Major Key Players of the Market:
Apple Inc., Google LLC, Microsoft Corporation, Meta Platforms Inc., Intel Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, NIIT Ltd., Mozilla Foundation, The Apache Software Foundation, Nokia Bell Labs, PHP Group, JetBrains, Linux Foudation, edX Inc., Udacity Inc., Aptech Ltd., Julia Computing, Erlang Solutions Ltd., D Language Foundation, Django Software Foundation, Zig Software Foundation, Haxe Foundation, Ruby Central Inc.
Programming Language Market 2024 Key Insights:
• The programming language market size is expected to see rapid growth in the next few years. It will grow to $273.76 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%.
• AI Expansion Fuels Growth In Programming Language Market
• Innovative Programming Languages And Development Tools Driving Growth And Profitability
• North America was the largest region in the programming language market in 2023
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