According to a new report, published by KBV research, The Global Generative AI In Coding Market size is expected to reach $95.5 million by 2030, rising at a market growth of 23.5% CAGR during the forecast period.
The Code Enhancement segment is poised to grow at a CAGR of 23.3% during (2023 - 2030). Modern software development has become more complex, with many programming languages, frameworks, and libraries. Code enhancement tools powered by generative AI help developers navigate this complexity by providing intelligent suggestions and automated code generation. Furthermore, code enhancement tools save developers time by automating repetitive coding tasks, such as generating boilerplate code, refactoring, and code completion. This increases productivity and allows developers to focus on solving more complex problems.
The Data Science & Analytics segment is leading the Global Generative AI In Coding Market by Application in 2022; thereby, achieving a market value of $32.4 million by 2030. Businesses across various sectors are relying on data-driven decision-making. This has created a significant demand for tools that can automate data analysis, data preprocessing, and the generation of actionable insights from data. With the proliferation of big data, companies are dealing with large and complex datasets.
The BFSI segment is anticipated to grow a CAGR of 24.9% during (2023 - 2030). The BFSI industry relies heavily on complex financial processes, including algorithmic trading, risk assessment, and financial modeling. Generative AI coding solutions can automate code development for these processes, leading to faster execution and reduced operational costs. Generative AI models can assist in developing sophisticated fraud detection algorithms by generating code for anomaly detection and pattern recognition.
The North America region dominated the Global Generative AI In Coding Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $32.3 million by 2030. The Europe region is exhibiting a CAGR of 23.2% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 24.5% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/generative-ai-in-coding-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Skillsoft Corporation, CodiumAI, Snyk Limited, Google LLC, IBM Corporation, Microsoft Corporation, NVIDIA Corporation, OpenAI, L.L.C., Tabnine, Adobe, Inc.
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