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Software Engineering Market Trends

Report ID: GMI9784
Published Date: Jun 2024
Report Format: PDF

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Software Engineering Market Trends

The convergence of the rise of artificial intelligence and machine learning with an increasing focus on security and privacy is driving significant evolution within the software engineering industry. AI and ML technologies are being harnessed to develop advanced security solutions, enhancing threat detection and privacy protection measures. This dual trend fosters innovation in software engineering and addresses the growing demand for robust, secure, and privacy-preserving software solutions across various industries and applications.

For instance, in May 2024, Argus Cyber Security revealed its latest DevSecOps platform, tailored for automotive software development. Designed to tackle security challenges in software-defined vehicles, it integrates a decade's worth of automotive cybersecurity technologies and services.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of software engineering reached USD 142.1 billion in 2023 and is set to witness 6.5% CAGR between 2024 and 2032, due to the ongoing digital transformation across industries and rising adoption of cloud-based services.

The cloud segment accounted for USD 88.5 billion in 2023, driven by unparalleled scalability, cost-effectiveness, and accessibility.

North America market held over 45% revenue share in 2023, owing to its robust infrastructure, technological innovation, and thriving startup ecosystem.

Accenture Plc, Capgemini SE, Cognizant Technology Solutions Corporation, DXC Technology, HCL Technologies, IBM Corporation, Infosys Limited, NTT DATA, Tata Consultancy Services (TCS) and Wipro Limited.