The market for [FURL= https://www.industryarc.com/Report/18545/software-development-ai-market.html]Software Development AI[/FURL] is forecast to reach $580.4 million by 2025, growing at a CAGR of 22.5% from 2020 to 2025. Software sector is booming primarily due to the implementation of ground-breaking and useful artificial intelligence technologies. Growing interest in artificial intelligence such as expert systems to solve the project's problems and make the code in understandable format far simpler leads to the growth of the artificial intelligence market in software development. The market is witnessing growth due to the reduced efforts, time and cost of the software application being aided by artificial intelligence.Key Takeaways
Growth in big data and increasing digitally connected customers are majorly driving the software development AI market.
Asia - Pacific has dominated the market share in 2019 due to the technological advancements and increasing adoption of deep learning and NLP technologies in this region
Expert systems application is analysed to grow at highest rate owing to the exploration of asset tracking applications for these systems.
As AI technology is still in its early stage of product life cycle, the workforce possessing in-depth knowledge of this technology is limited, which is a major hindrance in the market growth.
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Geography - Segment Analysis
By geography, Asia – Pacific segment is expected to gain the highest market growth during the forecast period 2020-20205. China, Japan, Australia, and India are among the major countries driving the AI market in APAC. The increasing adoption of deep learning and NLP technologies in finance, agriculture, marketing, and law applications is also driving the market in this region. Growing e-commerce, online streaming, and increasing internet penetration have resulted in the growth of marketing industries. APAC, especially China, Japan, and South Korea, is considered the largest market for industrial robots. Industrial robots generate a huge volume of data and numerous software, which is used for training robots. This would act as one of the major drivers for the artificial intelligence market in APAC.
Drivers – Software Development AI Market
Growth in Big Data and Increasing digitally connected Customer
big data and artificial intelligence market are becoming part of business organizations driven by the availability of data from sources such as the Internet of Things (IoT).
Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Software Development AI Market. Software Development AI driver market is expected to be dominated by major companies such as N-iX, QBurst, Intellectsoft, Softserve, RapidMiner, KONUX, and AI Foundry among others.
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