The artificial intelligence (ai) code tools 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) Code Tools 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) code tools market size has grown exponentially in recent years. It will grow from $5 billion in 2023 to $6.21 billion in 2024 at a compound annual growth rate (CAGR) of 24.2%. The growth in the historic period can be attributed to early adoption of AI technologies, increasing demand for automation in software development, growing complexity of software projects, rise of open-source AI frameworks, expansion of cloud computing services.
The artificial intelligence (AI) code tools market size is expected to see exponential growth in the next few years. It will grow to $14.63 billion in 2028 at a compound annual growth rate (CAGR) of 23.8%. The growth in the forecast period can be attributed to expansion of AI in code generation and auto-completion, adoption of AI for code security and vulnerability assessment, rising demand for AI-based code review and quality assurance, integration of AI into devops practices, increasing focus on explainability and interpretability of AI-generated code. Major trends in the forecast period include AI-driven code generation, enhanced code review and optimization, AI-powered testing and debugging, AI-enabled collaboration platforms.
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Scope Of Artificial Intelligence (AI) Code Tools Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Artificial Intelligence (AI) Code Tools Market Overview
Market Drivers –
Growing digital transformation is expected to propel the growth of the artificial intelligence (AI) code tools market going forward. Digital transformation refers to the process of utilizing digital technologies to fundamentally change how businesses and organizations operate, interact with customers, and deliver value. AI code tools help in digital transformation by streamlining software development processes, expediting innovation, and allowing enterprises to adapt to changing technological environments more quickly. For instance, in May 2022, according to a survey of 13,500 firms by the European Investment Bank, a Luxembourg-based European Union’s non-profit development bank that offers long-term project funding, around 58% of American companies reported taking steps to become increasingly digital, compared to 46% of EU businesses. Additionally, the US has a greater percentage of enterprises employing modern digital technologies (66% vs. 61% in the EU). Therefore, growing digital transformation is driving the artificial intelligence (AI) code tools market.
Market Trends –
Major companies operating in the artificial intelligence (AI) code tools market are focused on developing innovative products with advanced technological solutions, such as AI code assistants, to strengthen their position in the market. An AI coding assistant is a complex software tool that uses artificial intelligence (AI) technologies, such as large-language models (LLMs), to help coders write, modify, debug, test, and document code. For instance, in October 2023, International Business Machines Corporation, a US-based technology corporation, launched Watsonx Code Assistant. Watsonx Code Assistant is a generative artificial intelligence assistant that uses natural language prompts to help corporate developers and information technology operators code faster and more precisely. IBM Watsonx Code Assistant is a tool that uses generative AI to speed up code production and improve developer productivity. This application generates code ideas and translations based on natural language instructions, therefore optimizing the software development process.
The artificial intelligence (ai) code tools market covered in this report is segmented –
1) By Offering: Tools, Services
2) By Technology: Machine Learning, Natural Language Processing, Generative Artificial Intelligence
3) By Application: Data Science And Machine Learning, Cloud Services And Devops, Web Development, Mobile App Development, Gaming Development, Embedded Systems, Other Applications
4) By Vertical: Banking Financial Services And Insurance (BFSI), Information Technology And Information Technology Enabled Services, Healthcare And Life Sciences, Manufacturing, Retail And Ecommerce, Telecommunications, Government And Public Sector, Media And Entertainment, Other Verticals
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Regional Insights –
North America was the largest region in the artificial intelligence (AI) code tools market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (ai) code tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Google LLC, Microsoft Corporation, Meta Platforms Inc, Amazon Web Services Inc., The International Business Machines Corporation (IBM), Salesforce Inc., Datadog Inc., JetBrains s.r.o., Snyk, CircleCI, OpenAI, Replit, Moolya, AdaCore, Sourcegraph, Tabnine, Wing IDE (Wingware), Lightning AI, Kodezi, CodeWP, SinCode AB, Enzyme, CodiumAI, MutableAI, Sourcery.AI, Seek AI, SQLAI.ai, Assistiv.ai, Safurai
Table of Contents
1. Executive Summary
2. Artificial Intelligence (AI) Code Tools Market Report Structure
3. Artificial Intelligence (AI) Code Tools Market Trends And Strategies
4. Artificial Intelligence (AI) Code Tools Market – Macro Economic Scenario
5. Artificial Intelligence (AI) Code Tools Market Size And Growth
…..
27. Artificial Intelligence (AI) Code Tools Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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