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Soaring Demand Set to Propel Artificial Intelligence (AI) Augmented Software Engineering Market to $21.49 Billion by 2029
Artificial Intelligence (AI) Augmented Software Engineering Market
What Is the Expected CAGR for the Artificial Intelligence (AI) Augmented Software Engineering Market Through 2025?
The market size for AI-enhanced software engineering has seen substantial expansion in the past years. It's projected to increase from $3.18 billion in 2024 to $4.67 billion in 2025, with an expected CAGR of 46.9%. The historical growth can be attributed to various factors, including an increased need for effective software development procedures, growing complexity in software systems, common usage of agile and devOps practices, wider application of AI in various sectors, and enhanced business understanding of the advantages of AI-assisted software engineering.
What's the Projected Size of the Global Artificial Intelligence (AI) Augmented Software Engineering Market by 2029?
The market size of AI-enhanced software engineering is predicted to experience substantial expansion in the coming years, escalating to a value of $21.49 billion in 2029, with a Compound Annual Growth Rate (CAGR) of 46.5%. The projected growth is due to factors like accelerating investments in AI technologies, rising acceptance of cloud computing, continuous focus on digital transformation schemes, and an intensifying competitive business landscape. Trends to look forward to during the forecast period encompass tech improvements in AI and machine learning abilities, integration of AI technologies at numerous phases of the software creation lifecycle, progress in Natural Language Processing (NLP) technologies, introduction of AI-driven testing tools and platforms, and adoption of AI-guided code analysis tools.
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Top Growth Drivers in the Artificial Intelligence (AI) Augmented Software Engineering Industry: What's Accelerating the Market?
The emergence of cloud computing is anticipated to drive future growth in the AI-enhanced software engineering market. The concept of cloud computing, which involves delivering services via the internet, offers rapid innovation, flexible resources, and large economy scales. This gaining popularity of cloud usage is due to its resource scalability, economical advantage, adaptability, and ease of access, enabling enterprises to streamline their functionalities and spur faster innovation. The use of AI-enhanced software engineering is steadily increasing within cloud computing to automate development activities, maximize resource utilization, and improve productivity. For example, a Eurostat report from December 2023 revealed that 45.2% of EU businesses had acquired cloud computing services that year. This figure had increased by 4.2 percentage points compared to 2021. Consequently, the surging popularity of cloud computing boosts the growth of AI-enhanced software engineering market.
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What Trends Will Shape the Artificial Intelligence (AI) Augmented Software Engineering Market Through 2029 and Beyond?
Prominent players in the AI-reinforced software engineering market are shifting their focus towards the creation of code generation and aid tools like autonomous AI software engineers. The aim is to smoothen the development process, boost productivity, and address intricate tasks with unmatched accuracy and efficiency. Autonomous AI software engineers are state-of-the-art artificial intelligence systems capable of handling a range of software engineering tasks independently, such as coding, debugging, project planning, and deployment with minimal human assistance. For example, in March 2024, Cognition Corporation, an American tech company expert in creating sophisticated AI solutions, introduced Devin, an autonomous AI software engineer. Devin is equipped to manage entire development projects independently using advanced long-term reasoning to plan and perform complex tasks autonomously. With its own shell, code editor, and web browser, Devin can learn new technologies, construct and deploy apps, debug code, and train AI models. Devin is set to redefine AI-assisted development by delivering unequaled efficiency and precision in the software engineering sphere.
What Are the Main Segments in the Artificial Intelligence (AI) Augmented Software Engineering Market?
The artificial intelligence (AI) augmented software engineering market covered in this report is segmented -
1) By Component: Machine Learning, Deep Learning, Other Components
2) By Tool: Conversational AI Models, Autonomous Testing Tools, AI-Based Debugging Tools, Other Tools
3) By Use: Creating Code, Bug Fixing, Software Testing, Other Uses
4) By End User: Software Development Companies, Startups, Independent Developers, Government Organizations, Research And Academic Institutions, Other End-Users
Subsegments:
1) By Machine Learning: Supervised Learning, Unsupervised Learning, Reinforcement Learning
2) By Deep Learning: Convolutional Neural Networks (CNNs), Recurrent Neural Networks (RNNs), Generative Adversarial Networks (GANs)
3) By Other Components: Natural Language Processing (NLP), Knowledge Graphs, Automated Code Generation Tools
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Which Top Companies are Driving Growth in the Artificial Intelligence (AI) Augmented Software Engineering Market?
Major companies operating in the artificial intelligence (AI) augmented software engineering market report are Alphabet Inc.; Meta Platforms Inc.; Amazon Web Services Inc.; Intel Corporation; International Business Machines Corporation; Oracle Corporation; SAP SE; NVIDIA Corporation; Salesforce.com Inc.; Cognizant Technology Solutions Corporation; Baidu Inc; Adobe Inc.; Infosys Limited; Alibaba Cloud; HCL Technologies Limited; Wipro Limited; Palantir Technologies Inc.; OpenAI; DeepMind Technologies Limited; DataRobot Inc.; LeewayHertz Technologies Pvt. Ltd.; eSparkBiz Technologies Pvt. Ltd.; Markovate Inc.; DataToBiz Pvt. Ltd.; Nettyfy Technologies Pvt. Ltd.
Which Regions Will Dominate the Artificial Intelligence (AI) Augmented Software Engineering Market Through 2029?
North America was the largest region in the artificial intelligence (AI) augmented software engineering market in 2024. The regions covered in the artificial intelligence (AI) augmented software engineering market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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