Artificial Intelligence (AI) Code Tools Market Outlook Report 2024 | Size, Trends, Analysis, Insights, Overview By 2033

The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.

The Business Research Company presents an extensive market research report on the Artificial Intelligence (AI) Code Tools Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

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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Key Market Players:

Major companies operating in the artificial intelligence (ai) code tools market report are 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

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.

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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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