The Business Research Company's Software Development Tools Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 20, 2024 /EINPresswire.com/ -- The software development tools market size has shown robust growth, increasing from $5.84 billion in 2023 to $6.31 billion in 2024, marking a compound annual growth rate (CAGR) of 7.9%. This growth is attributed to the rise of integrated development environments, version control systems, open-source software, agile practices, and advancements in cloud computing and virtualization.

Rising Adoption of Cross-Platform Development Tools and Emerging Technologies Drives Market Growth
The software development tools market is expected to continue its strong growth trajectory, reaching $8.6 billion by 2028, with a CAGR of 8.1%. Key drivers include the proliferation of cross-platform development tools, support for microservice architecture, serverless computing platforms, containerization and orchestration, and integration of artificial intelligence and machine learning. Major trends influencing this growth include AI integration, containerization, serverless computing, DevOps and CI/CD tools, edge computing, and IoT development tools.

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Key Players and Market Innovations
Major companies such as International Business Machines Corporation, Oracle Corporation, SAP SE, and Salesforce.com Inc. are focusing on advancing code generation and autonomous AI software engineers. These innovations optimize development workflows, enhance efficiency, and tackle complex tasks autonomously.
For instance, Cognition Corporation introduced Devin, an autonomous AI software engineer, designed to independently manage complete development projects with advanced reasoning capabilities. Devin enhances productivity by automating coding, debugging, project planning, deployment, and AI model refinement tasks.

Emerging Market Segments
The software development tools market is segmented based on type (Integrated Development Environments, Debugging Tools, Version Control Systems, Testing Tools, Project Management Tools), deployment mode (On-Premises, Cloud-Based), and end-user industry (Information Technology And Telecom, BFSI, Healthcare, Retail, Manufacturing).

Regional Insights: North America Leads, Europe Poised for Rapid Growth
In 2023, North America dominated the software development tools market, while Europe is anticipated to experience the fastest growth during the forecast period. The report offers comprehensive insights into regional dynamics, market trends, and growth opportunities across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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Software Development Tools Global Market Report 2024 from TBRC covers the following information:
•Market size data 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 Software Development Tools Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on software development tools market size, software development tools market drivers and trends, software development tools market major players, competitors' revenues, market positioning, and market growth across geographies. The software development tools 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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