target audience: TECH SUPPLIER Publication date: Sep 2024 - Document type: Market Forecast - Doc Document number: # US52546324
Worldwide Software Construction Components and Tools Forecast, 2024–2028
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Abstract
This IDC study examines the software construction components and tools market. The market experienced accelerated growth in 2023, with further increases expected in upcoming years.
"The software construction components and tools market is well positioned to enable the accelerated development of a wide range of digital products by delivering components that leverage natural language, computer vision, edge computing, and other in-demand technologies," said Adam Resnick, research manager, Software Development at IDC. "To fulfill market needs, component vendors will need to intensify their efforts to innovate products in a market that is increasingly complex, given the proliferation of technologies and use cases in the digital space. IDC notes that software construction components vendors are active on both sides of the rapid adoption of generative AI — on the one hand using AI technology to accelerate the development of the components themselves and on the other delivering products that enable their customers to deliver generative AI to end users."