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Generative AI In Software Development Lifecycle
Generative AI In Software Development Lifecycle
Generative AI In Software Development Lifecycle Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $1.86 billion In 2028 At A CAGR Of 38.8% :
The generative AI in software development lifecycle market size has grown exponentially in recent years. It will grow from $0.36 billion in 2023 to $0.50 billion in 2024 at a compound annual growth rate (CAGR) of 38.4%. The growth in the historic period can be attributed to increased demand for automation and efficiency, the need for skilled software developers, increased adoption of digital ads, and increased demand for generative AI-driven content creation and design.
The generative AI in software development lifecycle market size is expected to see exponential growth in the next few years. It will grow to $1.86 billion in 2028 at a compound annual growth rate (CAGR) of 38.8%. The growth in the forecast period can be attributed to the rise in the number of work-from-home, growing digital transformations, increasing spending on big data and analytics, increasing demand for efficient software development, and demand for personalized user experiences. Major trends in the forecast period include advancements in artificial intelligence, agile and iterative development methodologies, generative AI tools, proliferation of open source software, development of generative AI technology, and cloud-based technologies in software development..
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Generative AI In Software Development Lifecycle Market Major Segments
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
Key Driver - The Growing Embrace of Automation Across Industries Is Driving The Generative AI In Software Development Lifecycle Market
Increasing demand for automation is expected to propel the growth of the generative AI in software development lifecycle market going forward. Automation refers to using technologies to manufacture and provide goods and services with minimal human involvement. There is a growing demand for automation due to several factors, including the need for increased efficiency, scalability, cost-effectiveness, and reduced errors in various industries and processes. Automation tools powered by generative AI can automatically generate code snippets based on high-level specifications or design patterns. Overall, it enhances the capabilities of generative AI in software development by reducing manual effort and ensuring the delivery of high-quality software solutions. For instance, in January 2022, according to a survey conducted among 600 IT professionals from North America and Europe conducted by Camunda, a Germany-based open-source platform, more than four in five respondents (82%) of the surveyed professionals said process automation is a greater priority for their organization than it was last year. Therefore, the increasing demand for automation is driving the growth of the generative AI in software development lifecycle market.
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Prominent Trend - Innovation In Generative AI In Software Development Lifecycle
Major companies operating in the generative AI in software development lifecycle market are focusing on developing innovative solutions, such as generative AI assistants, to enhance software security and drive their revenues in the market. A generative AI assistant refers to an AI-powered tool that aids developers by autonomously generating code snippets, and documentation, or assisting in security analysis, enhancing productivity and efficiency. For instance, in June 2023, Harness Inc., a US-based software delivery platform company, launched the AIDA (AI Development Assistant), a generative AI assistant designed to streamline the software development lifecycle. It was developed to assist developers at every stage of the software development lifecycle, with features such as automatic resolution of build and deployment failures, finding security vulnerabilities and automatically fixing them, and helping control cloud costs using natural language.
Generative AI In Software Development Lifecycle Market Players
Major companies operating in the generative AI in software development lifecycle market are Google LLC, Microsoft Corporation, Alibaba Cloud LLC, Amazon Web Services Inc., 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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Largest And Fastest Growing Region In The 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.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Generative AI In Software Development Lifecycle Market Report Structure
3. Generative AI In Software Development Lifecycle Market Trends And Strategies
4. Generative AI In Software Development Lifecycle Market - Macro Economic Scenario
5. Generative AI In Software Development Lifecycle Market Size And Growth
…..
27. Generative AI In Software Development Lifecycle Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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