Artificial Intelligence (AI) Augmented Software Engineering Market Size, Share, Revenue, Trends And Drivers For 2024-2033

The Business Research Company's Artificial Intelligence (AI)Augmented Software Engineering Global Market Report 2024 – Market Size And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 17, 2024 /EINPresswire.com/ -- The integration of artificial intelligence (AI) techniques and technologies into the software development process, known as AI-augmented software engineering, is transforming the industry. This integration enhances productivity, automates repetitive tasks, improves code quality, and fosters innovation. AI-augmented software engineering enables developers to focus on higher-level tasks, promoting creativity and adaptability to evolving project requirements.

Market Size and Growth Drivers
The AI-augmented software engineering market has experienced exponential growth, with a projected increase from $2.17 billion in 2023 to $3.18 billion in 2024, at a compound annual growth rate (CAGR) of 46.4%. This growth is driven by the demand for efficient software development processes, the increasing complexity of software systems, widespread adoption of agile and DevOps practices, expanding AI application across sectors, and rising awareness of AI-augmented software engineering benefits.
The market is expected to continue its rapid expansion, reaching $4.68 billion by 2028, with a CAGR of 46.6%. Factors contributing to this growth include increasing investment in AI technologies, growing adoption of cloud computing, ongoing digital transformation initiatives, and a competitive business environment. Key trends in this period include advancements in AI and machine learning, integration of AI technologies in the software development lifecycle, advancements in natural language processing (NLP), AI-powered testing tools, and AI-based code analysis tools.

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Cloud Computing's Role in Market Growth
The rise of cloud computing is a significant driver for the AI-augmented software engineering market. Cloud computing delivers services over the internet, offering faster innovation, flexible resources, and economies of scale. Its scalability, cost-effectiveness, flexibility, and accessibility empower businesses to streamline operations and innovate faster. AI-augmented software engineering is increasingly used in cloud computing to automate development processes, optimize resource allocation, and enhance efficiency.
In 2023, 45.2% of EU enterprises purchased cloud computing services, marking a 4.2 percentage point increase from 2021. This trend indicates a growing reliance on cloud computing, which drives the demand for AI-augmented software engineering solutions.

Major Players and Trends
Leading companies in the AI-augmented software engineering market include Alphabet Inc., Meta Platforms Inc., Amazon Web Services Inc., and Intel Corporation. These companies focus on developing innovative solutions such as autonomous AI software engineers to streamline development processes, enhance productivity, and tackle complex tasks with unprecedented efficiency and precision.
For instance, Cognition Corporation launched Devin, an autonomous AI software engineer, in March 2024. Devin is designed to handle entire development projects independently, from coding and debugging to project planning and deployment, with minimal human intervention. This innovation is set to revolutionize the software engineering landscape by providing unprecedented efficiency and precision.

Regional Insights
North America led the AI-augmented software engineering market in 2023. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Market Segmentation
The AI-augmented software engineering market is segmented based on components, tools, use cases, and end-users:
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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Artificial Intelligence (AI) Augmented Software Engineering Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Artificial Intelligence (AI) Augmented Software Engineering Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on artificial intelligence (AI) augmented software engineering market size, artificial intelligence (AI) augmented software engineering market drivers and trends, artificial intelligence (AI) augmented software engineering market major players, competitors' revenues, market positioning, and market growth across geographies. The artificial intelligence (AI) augmented software engineering market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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