Generative AI In Coding Market: Key Trends and Innovations Driving Industry Growth
The global generative AI in coding market size is expected to reach USD 106.3 million by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 25.2% from 2023 to 2030. Generative AI's impact on coding rapidly expands as developers use advanced models and successors to streamline software development. These models generate code snippets, offer creative solutions, automate documentation, enhance code comprehension, and enable rapid prototyping. As the technology evolves, its ability to address diverse programming languages and specific domains grows, empowering developers with efficient coding assistance and accelerating the iterative development process.
The rise in the development of AI models specifically designed for code generation propels the market forward. These models might be fine-tuned on programming languages, frameworks, and software development contexts, making their suggestions even more relevant and accurate. For instance, GitHub Copilot is an AI-driven coding tool that GitHub, OpenAI, and Microsoft Corporation developed. This tool offers code suggestions in Visual Studio, Neovim, and JetBrains development environments. Its ability to suggest relevant code snippets and auto-completion can save time and effort while improving code quality and consistency.
By integrating generative AI and low-code, systems can autonomously manage tasks, reducing human involvement. Low-code software democratizes development within organizations, while generative AI enhances efficiency. This synergy could streamline app creation in low-code and no-code platforms, where AI generates code from visual input. According to Microsoft's Low-Code Signals 2023 report, 87% of innovation leaders and IT professionals anticipate improved utilization through increased AI and automation within low-code platforms.
Gather more insights about the market drivers, restrains and growth of the Generative AI In Coding Market
Generative AI In Coding Market Report Highlights
• Code Generation segment dominated the market with a revenue share of 37.4% in 2022. As software development becomes more pervasive across industries, the demand for code is increasing. Generative AI assists in meeting this demand by accelerating code production.
• The North America region dominated the market with a revenue share of 29.3% in 2022. The interconnected tech ecosystem in North America encourages cross-industry collaboration and knowledge-sharing, further fueling the adoption of generative AI in coding.
• The collaboration among AI research, hardware progress, and vast datasets drives market by furnishing developers with more potent and streamlined tools. These tools simplify coding tasks, resulting in enhanced efficiency and the creation of superior software products.
• As artificial intelligence gains more recognition for its effectiveness across industries, there's a rising interest in utilizing generative AI for coding, driven by its potential to enhance coding processes. This interest stems from understanding AI's value in improving coding efficiency.
Generative AI In Coding Market Segmentation
Grand View Research has segmented the global generative AI in coding market based on operation, application, industry vertical and regional.
Generative AI in Coding Operation Outlook (Revenue, USD Million; 2018 - 2030)
• Code Generation
• Code Enhancement
• Language Translation
• Code Reviews
Generative AI in Coding Application Outlook (Revenue, USD Million; 2018 - 2030)
• Data Science and Analytics
• Game Development and Design
• Web and Application Development
• IoT and Smart Devices
Generative AI in Coding Industry Vertical Outlook (Revenue, USD Million; 2018 - 2030)
• BFSI
• Media and Entertainment
• IT & Telecom
• Healthcare and Life Sciences
• Transport & Logistics
• Retail & E-commerce
Generative AI in Coding Regional Outlook (Revenue, USD Million; 2018 - 2030)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
• Latin America
o Brazil
o Mexico
• Middle East and Africa
o KSA
o UAE
o South Africa
List of Key Players in the Generative AI In Coding Market
• Codecademy
• CodiumAI
• DeepCode
• Google LLC
• IBMCorporation
• Microsoft Corporation
• NVIDIA Corporation
• OpenAI
• Tabnine
• Codota
Order a free sample PDF of the Generative AI In Coding Market Intelligence Study, published by Grand View Research.
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