Worldwide Software Construction Components and Tools Forecast, 2024–2028
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."
IDC Market Forecast Figure
Executive Summary
Advice for Technology Suppliers
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Market Forecast
Market Context
Drivers and Inhibitors
Drivers
Proliferation of Wearable Technology
Acceleration of Legacy App Modernization and Transformation
Exacerbation of the Developer Shortage
Inhibitor
Competition and Market Saturation
Significant Market Developments
Accelerated Proliferation of Computer Vision and Deep Learning AI Technologies
Maturation and Growth of Edge Computing
Increased Adoption of Healthcare Apps and Devices
Changes from Prior Forecast
Market Definition
Methodology
Historical and Forecast Market Values and Exchange Rates