According to a research report "AI Code Tools Market by Offering (Tools (Deployment Mode) and Services), Technology (ML, NLP, Generative AI), Application (Data Science & Machine Learning, Cloud Services & DevOps, Web Development), Vertical and Region - Global Forecast to 2028" published by MarketsandMarkets, the market for AI code tools is estimated to grow from USD 4.3 billion in 2023 to USD 12.6 billion by 2028, at a CAGR of 24.0% during the forecast period. AI code tools, also known as artificial intelligence code tools or AI-powered code tools, are software applications and platforms that leverage artificial intelligence and machine learning technologies to assist developers in various aspects of the software development lifecycle. These tools aim to streamline and enhance the coding process by automating repetitive tasks, providing code suggestions and corrections, detecting errors and vulnerabilities, and offering insights into code quality and performance.
Browse 261 market data Tables and 56 Figures spread through 332 Pages and in-depth TOC on "AI Code Tools Market by Offering (Tools (Deployment Mode) and Services), Technology (ML, NLP, Generative AI), Application (Data Science & Machine Learning, Cloud Services & DevOps, Web Development), Vertical and Region - Global Forecast to 2028"
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Services segment to account for higher CAGR during the forecast period
AI code tools, complemented by a suite of services, are facilitating the seamless integration and operation of artificial intelligence solutions across diverse industries. Professional services, including consulting, training, system integration, and implementation, are pivotal in guiding businesses through their AI journey, assisting in strategy formulation, enhancing workforce skills, and ensuring that AI tools effectively integrate with existing infrastructures. Furthermore, support and maintenance services play a crucial role in sustaining the performance and reliability of AI systems, minimizing downtime, and resolving issues promptly. Managed services offer a holistic approach by outsourcing the management of AI systems, freeing organizations from the complexities of AI deployment, and enabling them to focus on their core competencies while benefiting from expert guidance. These services are collectively propelling AI code tools into the forefront of automation and innovation, providing a comprehensive ecosystem that empowers organizations to harness the transformative potential of artificial intelligence while addressing their specific needs and constraints, and fostering a dynamic collaboration between human expertise and AI capabilities.
Cloud segment is expected to hold the largest market size for the year 2023
AI code tools, deployed in the cloud, have become the backbone of innovation and efficiency across industries. Leveraging the power of cloud computing, these tools offer scalability, accessibility, and a plethora of resources to developers and businesses. Cloud-based AI code tools allow organizations to harness artificial intelligence without the need for extensive infrastructure investments, making them cost-effective and readily available. This deployment mode facilitates the development of AI applications that can adapt to changing workloads and data demands. Platforms like Google Vertex AI provide a robust environment for building, deploying, and managing machine learning models in the cloud, streamlining the development process for data scientists and developers. Amazon CodeWhisperer leverages cloud infrastructure to enhance the code review process, automating the identification of potential issues and vulnerabilities in software projects.
The healthcare and life sciences vertical is projected to grow at the highest CAGR during the forecast period
AI code tools have brought about a significant transformation in the Healthcare & Life Sciences industry. These tools are empowering healthcare providers, researchers, and pharmaceutical companies to improve patient care, accelerate drug discovery, and enhance operational efficiency. One of the key applications of AI code tools in healthcare is in the field of medical imaging. Machine learning models have been trained to analyze and interpret medical images, such as X-rays, MRIs, and CT scans, with a high degree of accuracy. In the Life Sciences sector, AI code tools are revolutionizing drug discovery and the development of personalized medicine. Pharmaceutical companies are using AI to analyze vast datasets, including genetic information, chemical compounds, and clinical trial data, to identify potential drug candidates. AI code tools are making a profound impact on the Healthcare & Life Sciences vertical by improving medical imaging, accelerating drug discovery, enabling personalized medicine, optimizing healthcare operations, and enhancing predictive analytics.
The report profiles key players such as Microsoft (US), IBM (US), Google (US), AWS (US), Salesforce (US), Meta (US) and OpenAI (US)
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