The artificial intelligence (ai) augmented software engineering global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Artificial Intelligence (AI) Augmented Software Engineering Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The artificial intelligence (AI) augmented software engineering market size has grown exponentially in recent years. It will grow from $2.17 billion in 2023 to $3.18 billion in 2024 at a compound annual growth rate (CAGR) of 46.4%. The growth in the historic period can be attributed to rising demand for efficient software development processes, increasing complexity of software systems, widespread adoption of agile and devops practices, expanding application of AI across different sectors, and increasing awareness about the benefits of AI-augmented software engineering among businesses.
The artificial intelligence (AI) augmented software engineering market size is expected to see exponential growth in the next few years. It will grow to $4.68 billion in 2028 at a compound annual growth rate (CAGR) of 46.6%. The growth in the forecast period can be attributed to increasing investment in AI technologies, growing adoption of cloud computing, ongoing emphasis on digital transformation initiatives, and an and an increasingly competitive business environment. Major trends in the forecast period include technological advancements in AI and machine learning capabilities, integrating AI technologies into various stages of the software development lifecycle, advancements in natural language processing (NLP) technologies, AI-powered testing tools and platforms, and adopting AI-based code analysis tools.
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Scope Of Artificial Intelligence (AI) Augmented Software Engineering Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Artificial Intelligence (AI) Augmented Software Engineering Market Overview
Market Drivers –
The rise of cloud computing is expected to propel the artificial intelligence (AI)-augmented software engineering market going forward. Cloud computing refers to delivering services over the internet to offer faster innovation, flexible resources, and economies of scale. The rise in cloud adoption is due to its scalability, cost-effectiveness, flexibility, and accessibility, which empower businesses to streamline operations and innovate faster. AI-augmented software engineering is increasingly employed in cloud computing to automate development processes, optimize resource allocation, and enhance efficiency. For instance, in December 2023, according to a report published by Eurostat, the Luxembourg-based statistical office of the European Union, 45.2% of EU enterprises had purchased cloud computing services in 2023. This marked a 4.2 percentage point increase compared to 2021. Therefore, the rise of cloud computing drives the growth of the artificial intelligence (AI)-augmented software engineering market.
Market Trends –
Major companies operating in the artificial intelligence (AI)-augmented software engineering market are focusing on developing code generation and assistance tools such as autonomous AI software engineers, to streamline development processes, enhance productivity, and tackle complex tasks with unprecedented efficiency and precision. Autonomous AI software engineers are advanced artificial intelligence systems capable of independently performing various software engineering tasks, from coding and debugging to project planning and deployment, with minimal human intervention. For instance, in March 2024, Cognition Corporation, a US-based technology company specializing in developing advanced artificial intelligence (AI) solutions, launched Devin, an autonomous AI software engineer. Devin is designed to handle entire development projects independently, utilizing advanced long-term reasoning to plan and execute complex tasks autonomously. It operates with its shell, code editor, and web browser, capable of learning new technologies, building and deploying apps, debugging code, and training AI models. Devin is positioned as a groundbreaking solution in AI-assisted development to revolutionize the software engineering landscape by providing unprecedented efficiency and precision.
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
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Regional Insights –
North America was the largest region in the artificial intelligence (AI) augmented software engineering market in 2023. 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.
Key Companies –
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.
Table of Contents
- Executive Summary
- Artificial Intelligence (AI) Augmented Software Engineering Market Report Structure
- Artificial Intelligence (AI) Augmented Software Engineering Market Trends And Strategies
- Artificial Intelligence (AI) Augmented Software Engineering Market – Macro Economic Scenario
- Artificial Intelligence (AI) Augmented Software Engineering Market Size And Growth
…..
- Artificial Intelligence (AI) Augmented Software Engineering Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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