Press release
Programming Software Market Poised to Hit $3.97 Billion by 2029 with Accelerating Growth Trends
Programming Software Market
What Will the Programming Software Industry Market Size Be by 2025?
The programming software industry has experienced substantial growth lately. The market is set to expand from $2.04 billion in 2024 to $2.34 billion in 2025, displaying a compound annual growth rate (CAGR) of 14.9%. This previous growth can be linked to the rise of personal computing, the implementation of agile methodologies, the emergence of high-level programming languages, graphical user interfaces (GUI), and object-oriented programming (OOP).
What's the Long-Term Growth Forecast for the Programming Software Market Size Through 2029?
Expectations are high for the programming software market to experience significant growth in the coming years. It's forecasted to expand to $3.97 billion by 2029, with a compound annual growth rate (CAGR) of 14.1%. Factors contributing to this projected rise during the forecast period include the emergence of new programming languages, an increase in mobile development demand and growing concerns about cybersecurity. The period is also expected to see key trends such as the evolution of programming languages, advancements in hardware, the progress of operating system development, the growth of the open source movement, and the rise of mobile computing.
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What Are the Key Growth Drivers Fueling the Programming Software Market Expansion?
The programming software market is anticipated to grow as the number of application developments rises. Application development involves creating tailor-made software applications to run on various platforms such as mobile devices, desktops, or web browsers. The burgeoning adoption of smartphones and tablets has created a surge in demand for mobile apps that meet a host of requirements ranging from communication and entertainment to productivity and business services. Programming software, packed with features like syntax highlighting, code completion, and code templates, enables developers to write code more swiftly and with minimal mistakes. As a case in point, as per RipenApps Technologies-a digital transformation firm based in India-the global consumer expenditure on mobile applications reached a staggering $129B in 2022. Thus, the proliferation of application development is fueling the expansion of the programming software market.
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What Are the Key Trends Driving Programming Software Market Growth?
Leading corporations in the programming software market are prioritizing the creation of novel products such as AI coding assistants with a view to augment developer productivity, enhance the quality of code, and simplify the app development process. These AI coding assistants, which are nothing but software tools equipped with AI capabilities, aid developers in creating, reviewing, and troubleshooting code. They utilize machine learning algorithms, natural language processing (NLP), and code analysis to offer smart suggestions, automate monotonous tasks, and boost overall efficiency in coding. For example, GitHub Inc., an American online platform that allows programmers to write, store, organize, and share code, introduced GitHub Copilot Enterprise in February 2024. This AI coding assistant is capable of giving code suggestions, answering queries, and making adjustments as per the company's standards and codebase. It optimizes productivity and improves the quality of code while adhering to control and compliance measures in the development processes.
How Is the Programming Software Market Segmented?
The programming softwaremarket 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
Subsegments:
1) By Cloud-Based: Software As A Service (SaaS), Platform As A Service (PaaS), Infrastructure As A Service (IaaS)
2) By On-Premise: License-Based, Subscription-Based, Custom-Built Or Enterprise Solutions
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Which Companies Are Leading the Charge in Programming Software Market Innovation?
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.
Which Regions Are Leading the Global Programming Software Market in Revenue?
North America was the largest region in the programming software market in 2024. The regions covered in the programming software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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