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Global Generative AI in Software Development Lifecycle Market to Reach $2.57 Billion by 2029, Growing at 38.7% CAGR
Generative AI in Software Development Lifecycle
The increasing demand for automation is expected to foster growth in the generative AI in the software development lifecycle market. Automation refers to using technology to reduce human involvement in processes, and it is growing due to its efficiency, scalability, and error reduction benefits. Generative AI tools automate code generation, reducing manual effort and ensuring high-quality software solutions. A 2022 survey by Camunda found that 82% of IT professionals said process automation was a higher priority than the previous year. As a result, automation is driving the growth of generative AI in software development.
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What Is the projected market size and growth rate for the generative ai in software development lifecycle market?
The generative AI in software development lifecycle market has seen rapid growth in recent years. It is expected to grow from $0.5 billion in 2024 to $0.69 billion in 2025, at a compound annual growth rate (CAGR) of 39.1%. This growth is driven by increasing demand for automation and efficiency, the need for skilled software developers, a rise in digital ad adoption, and a growing demand for generative AI-driven content creation and design.
The generative AI in software development lifecycle market is expected to grow to $2.57 billion by 2029, with a compound annual growth rate (CAGR) of 38.7%. This growth is driven by factors like the rise of remote work, digital transformations, increased spending on big data, the demand for efficient software development, and personalized user experiences. Key trends include AI advancements, agile development, generative AI tools, open source software proliferation, and cloud-based technologies in development.
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What new trends are reshaping the generative ai in software development lifecycle market and its opportunities?
Major companies in the generative AI in software development lifecycle market are developing innovative tools like generative AI assistants to boost software security and improve market performance. In June 2023, Harness Inc., a US-based software delivery platform, launched AIDA (AI Development Assistant). This generative AI assistant helps developers by resolving deployment failures, identifying and fixing security vulnerabilities, and optimizing cloud costs through natural language.
What major market segments define the scope and growth of the generative ai in software development lifecycle market?
The generative AI in software development lifecycle market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Deployment Mode: On-Premise, Cloud-Based
3) By Application: Code Generation, Code Optimization, Bug Detection, Testing And Quality Assurance, Other Applications
4) By End-User: Software Engineers Or DevOps Professionals, Security Professionals Or SecOps
Subsegments:
1) By Solutions: Code Generation Solutions, Automated Testing Solutions, Code Refactoring Solutions, Bug Detection And Fixing Solutions, Code Review And Quality Assurance Solutions, Continuous Integration Or Continuous Deployment (CI Or CD) Solutions, DevOps Automation Solutions, AI-Powered Documentation Solutions, Other Generative AI Solutions
2) By Services: Consulting Services, System Integration Services, AI Model Training And Fine-Tuning Services, Customization And Development Services, Support And Maintenance Services, Managed Services, Other Services
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Which regions are key players in the growth of the generative ai in software development lifecycle market?
North America was the largest region in the generative AI in software development lifecycle market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative AI in software development lifecycle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the generative ai in software development lifecycle industry growth?
Major companies operating in the generative AI in software development lifecycle market are Google LLC, Microsoft Corporation, Alibaba Cloud LLC, Amazon Web Services Inc., plc, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, SAP SE, Nvidia Corporation, Capgemini SE, Infosys Limited, HCL Technologies Limited, Wipro Limited, Red Hat Inc., Atlassian Corporation Plc, Reply, Thoughtworks Inc., GitHub Inc., C3 AI Inc., Harness Inc., CloudBees Inc., Hugging Face Inc., Replit, Tabnine Ltd.
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What Is Covered In The Generative AI in Software Development Lifecycle Global Market Report?
•Market Size Forecast: Examine the generative ai in software development lifecycle market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the generative ai in software development lifecycle market for a structured understanding.
•Key Players Overview: Analyze major players in the generative ai in software development lifecycle market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the generative ai in software development lifecycle market.
•Segment Contributions: Evaluate how different segments drive overall growth in the generative ai in software development lifecycle market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the generative ai in software development lifecycle market.
•Industry Challenges: Identify potential risks and obstacles affecting the generative ai in software development lifecycle market.
•Competitive Landscape: Review strategic developments in the generative ai in software development lifecycle market, including expansions, agreements, and new product launches.
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