Press release
Evolving Market Trends In The Generative AI In Software Development Industry: Revolutionizing Software Development With Advanced Generative AI Services
Generative AI In Software Development
What Is the Expected Generative AI In Software Development Market Size During the Forecast Period?
The market for generative AI in software development has witnessed significant expansion in the past few years. The market is set to surge from $53.4 billion in 2024 to $66.77 billion in 2025, reflecting a compound annual growth rate (CAGR) of 25.0%. Factors such as enhanced computational capabilities, advancements in deep learning algorithms, access to considerable datasets, growing need for coding optimization, and the rise of cloud computing platforms have all contributed to growth during the historic period.
In the coming years, an astronomical surge is anticipated in the size of the generative AI in software development market, with projections reaching up to $161.34 billion by 2029, marking a compound annual growth rate (CAGR) of 24.7%. This substantial increase during the forecast period could be credited to the incorporation of generative AI in software development utilities, the broadening scope in the creative sector, adoption for personalizing content production, optimization of natural language understanding abilities, as well as a swift progression in self-learning AI research. Among the key projected trends are an intensified focus on the ethical and responsible construction of AI, a spread of generative AI in low-code and no-code platforms, rising popularity of AI-enhanced software development workflows, emergence of cybersecurity solutions powered by generative AI, and the assimilation of generative AI in DevOps routines.
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What Are the High-Growth Segments in the Generative AI In Software Development Market?
The generative AI in software development 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
Subsegments:
1) By Solutions: AI-Powered Code Generation, Automated Software Testing And Debugging, Intelligent Code Optimization And Refactoring, AI-Based Application Security And Vulnerability Detection
2) By Services: AI Consulting For Software Development, Custom AI Solution Development For Software, AI Integration And Implementation Services, AI-Driven Software Development Training And Support
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What Key Drivers Are Expected to Influence Future Generative AI In Software Development Market Growth?
The swell in the need for automation is anticipated to fuel the expansion of generative AI in the software development sector in the foreseeable future. Automation is defined by the use of technology and machinery to execute tasks with the least possible human involvement, thereby enhancing efficiency and productivity. The escalating demand for automation stems from the necessity to streamline operations, boost efficiency, cut costs, boost precision across a range of industries. Generative AI facilitates the automation of design tasks such as generating UI layouts, graphics, and architectural designs, thereby enabling human designers to devote more time to their creative pursuits. For example, a report released in July 2024 by France's Capgemini SE, a renowned information technology services provider, stated that roughly 3 out of 5 organizations favor employing generative AI in software engineering, and nearly 46% of software engineers favor using tools enabled with generative AI. Predictions suggest that approximately 85% of the software workforce will implement generative AI in software by the year 2026. Hence, the burgeoning demand for automation catalyzes the growth of generative AI in the software development sector.
Which Companies Hold the Largest Share Across Different Generative AI In Software Development Market Segments?
Major companies operating in the generative AI in software development market report are Amazon Inc.; Google LLC; Microsoft Corporation; Tencent Holdings Ltd.; International Business Machines Corporation; Deloitte Touche Tohmatsu Limited; Oracle Corporation; Red Hat Inc.; Atlassian Corporation Plc; Alteryx Inc.; Itransition Inc.; Visionet Systems Inc.; BairesDev LLC; Nordcloud Ltd.; CloudBees Inc.; 15Five Inc; ScienceLogic Inc.; Waverley Software Inc.; Alibaba Cloud; 10Clouds SP. Z O.O.; Radiansys Inc.; Tooploox; Blue Label Labs; ASG Technologies Ltd.; HatchWorks Inc
What Trends Are Driving Growth in The Generative AI In Software Development Market?
Leading companies in the generative AI software development sector are launching sophisticated generative AI solutions to improve productivity and spur market revenue growth. These services utilize artificial intelligence to innovate new content and ideas including dialogues, narratives, visuals, videos, and melodies. For example, in July 2023, Capgemini SE, a tech firm based in France, unveiled a suite of services based on generative AI. This included strategies for generative AI, its application in customer experience, software engineering, and tailor-made solutions for businesses. The addition of generative AI in software engineering provides a distinct service range that enhances effectiveness and work quality at all stages of the software lifecycle - from its design, programming, documentation to testing, roll-out, and operations. It aids in shortening the launch time for new software and reducing the technological deficit for enterprises by backing massive overhauling programs for outdated software. Moreover, it amplifies security protocols by minimizing the threat landscape through automatic bug or vulnerability detection, subsequently suggesting suitable adjustments to the software development team.
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What Are the Emerging Geographies for The Generative AI In Software Development Market Growth?
North America was the largest region in the generative AI in software development market in 2024. The regions covered in the generative AI in software development market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Generative AI In Software Development Market?
2. What is the CAGR expected in the Generative AI In Software Development Market?
3. What Are the Key Innovations Transforming the Generative AI In Software Development Industry?
4. Which Region Is Leading the Generative AI In Software Development Market?
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