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Steady Expansion Forecast for Generative AI In Software Development Market, Projected to Reach $161.34 Billion by 2029
Generative AI In Software Development
Generative AI In Software Development Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of generative AI in software development has seen remarkable growth in recent years. The sector, valued at $53.4 billion in 2024, is forecasted to swell to $66.77 billion in 2025, marking an impressive compound annual growth rate (CAGR) of 25.0%. Factors such as upgraded computational capabilities, progress in deep learning methodologies, access to vast datasets, rising need for optimized coding, and the rise of cloud computing platforms are credited for the growth during the historic period.
Generative AI In Software Development Market Size Forecast: What's the Projected Valuation by 2029?
The market size of generative AI in software development is projected to experience remarkable growth in the coming years, reaching $161.34 billion in 2029 with a 24.7% compound annual growth rate (CAGR). The growth during this forecast period is primarily driven by the incorporation of generative AI into software development tools, broadening of uses in creative industries, utilization of generative AI for personalized content creation, improvement of natural language understanding capabilities, and advancement of self-improving AI system research. Key trends for the forecast period comprise of an intensified focus on ethical and responsible AI development, growing prevalence of generative AI in low-code and no-code platforms, the emergence of AI-enhanced software development workflows, the advent of generative AI-enabled cybersecurity solutions, and the fusion of generative AI into DevOps practices.
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What Are the Drivers Transforming the Generative AI In Software Development Market?
The anticipated surge in automation requirements is predicted to drive the expansion of generative AI within the software development market. Automation, defined as the utilization of technology and machinery to execute tasks with minimum human input, enhances efficiency and productivity. This surge in automation needs is a result of the necessity to optimize processes, enhance efficiency, lower expenses, and increase precision across a spectrum of industries. Generative AI facilitates the automation of design tasks, including generating UI layouts, graphics, and architectural designs, thus freeing up human designers to focus more on creative tasks. For example, in July 2024, a study by Capgemini SE, a French IT services firm, reported that approximately 60% of organizations favor the use of generative AI in software engineering and around 46% of software engineers prefer to use generative AI tools. By 2026, it is projected that about 85% of the software workforce will incorporate generative AI into their software. As a result, the burgeoning demand for automation is fueling the growth of generative AI within the software development market.
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What Long-Term Trends Will Define the Future of the Generative AI In Software Development Market?
Leading corporations in the generative AI software development industry are incorporating cutting-edge generative AI features to augment productivity and stimulate market revenue. Generative AI utilities cover a wide range of applications, utilizing artificial intelligence to generate new content and ideas, such as discussions, narratives, pictures, videos, and music. For instance, Capgemini SE, an IT firm based in France, introduced a suite of services including generative AI strategy, customer experience enhancement using generative AI, software engineering with generative AI as well as custom generative AI services for businesses in July 2023. The inclusion of generative AI in software engineering provides a novel set of services that improves efficiency and quality throughout the software's life cycle, spanning areas such as design, coding, documentation, testing, deployment, and maintenance. This results in faster time-to-market for new applications and lowers the technical debt for companies by aiding in substantial modernization schemes for existing software. Moreover, it strengthens security protocols by curtailing the attack surface, identifying flaws or security risks automatically, and offering modifications to the software development groups.
Which Segments in the Generative AI In Software Development Market Offer the Most Profit Potential?
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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Which Firms Dominate the Generative AI In Software Development Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in the Generative AI In Software Development Market?
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.
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