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Industry Landscape
The software development services industry is experiencing robust growth driven by digital transformation initiatives across all sectors. Cloud computing, AI, and data analytics are key drivers. The market is highly competitive, with a strong demand for specialized skills and agile methodologies. Outsourcing remains a significant trend, especially in regions with skilled talent pools and competitive pricing.
Total Assets Under Management (AUM)
Market Size in United States
~Approximately 1.15 trillion USD in 2023 (Global IT Services Market size, with US being the largest segment)
(8.3% CAGR)
- Cloud adoption is driving demand.
- AI and data analytics fuel new projects.
- Digital transformation initiatives continue to expand.
Total Addressable Market
Approximately 596.7 billion
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Generative AI
Generative AI, especially large language models (LLMs), is transforming software development by automating code generation, testing, and documentation, significantly boosting efficiency and innovation.
Edge Computing
Edge computing brings computation and data storage closer to the data sources, reducing latency and enabling real-time processing for applications like IoT and autonomous systems.
Cybersecurity Mesh Architecture (CSMA)
CSMA provides a more distributed and flexible approach to security, allowing for better protection of diverse assets across cloud, on-premise, and edge environments.
Impactful Policy Frameworks
NIST AI Risk Management Framework (AI RMF 1.0) 2023
The NIST AI RMF 1.0, published in January 2023, provides voluntary guidance for organizations to manage risks associated with artificial intelligence, promoting trustworthy AI system development.
It will influence how Code Brahma develops AI-powered solutions, requiring them to integrate risk assessment and mitigation processes to ensure compliance and build client trust.
Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence (October 2023)
This broad executive order directs federal agencies to establish new standards for AI safety and security, including requirements for AI developers and users, aiming to mitigate risks while fostering innovation.
Code Brahma may need to adapt its AI development practices and data handling protocols to align with evolving federal guidelines, impacting project scope and resource allocation.
SEC Cybersecurity Rule (2023)
Effective December 2023, the SEC's new rule requires public companies to disclose material cybersecurity incidents within four business days and to report annually on their cybersecurity risk management, strategy, and governance.
This rule will likely increase demand for robust cybersecurity solutions and consulting services from Code Brahma as public company clients seek to enhance their defenses and compliance reporting.
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