target audience: TECH SUPPLIER Publication date: Dec 2023 - Document type: Market Forecast - Doc Document number: # US51450823
Worldwide Software Construction Components and Tools Forecast, 2023–2027
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Abstract
This IDC study examines the software construction components and tools market. The market experienced tepid growth in 2022 but is expected to deliver strong growth in the years ahead.
"The software construction components and tools market stands at an inflection point given the maturation of generative AI technologies that enable the rapid development of components by means of natural language–based prompts and related no-code technologies," said Arnal Dayaratna, research vice president, Software Development at IDC. "To address this challenge, component vendors will need to integrate generative AI into their portfolios and empower natural language–based developers to create, modify, and commercialize components. IDC notes that proprietary training data and human reinforcement learning feedback will be critical to the success of software vendors that leverage generative AI and that, accordingly, software construction component vendors would do well to prioritize the development of unique and differentiated training data sources."