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According to a new report, published by KBV research, The Global Prompt Engineering Market size is expected to reach $2.45 billion by 2031, rising at a market growth of 34.9% CAGR during the forecast period.
The Software segment is leading the Global Prompt Engineering Market by Component in 2023; thereby, achieving a market value of $1.67 billion by 2031. This growth can be attributed to the increasing reliance on AI-powered applications across various industries, including IT, e-commerce, healthcare, and finance. Organizations invest heavily in sophisticated prompt engineering software to fine-tune large language models (LLMs) and enhance the accuracy of AI-generated content. Additionally, the rapid evolution of generative AI tools has accelerated the demand for robust software solutions that enable businesses to create high-quality, context-aware prompts efficiently.
The Conversational AI segment registers a CAGR of 34.6% during (2024 - 2031). This growth was driven by the increasing demand for AI-powered chatbots, virtual assistants, and customer service automation solutions across industries. As businesses continue to integrate advanced conversational AI technologies to enhance customer experience and streamline operations, prompt engineering plays a crucial role in optimizing the performance and accuracy of these systems, further bolstering the segment's market presence.
The n-Shot Prompting segment is leading the Global Prompt Engineering Market by Technique in 2023; thereby, achieving a market value of $1.00 billion by 2031. This technique, including zero-shot, one-shot, and few-shot prompting, is widely used to optimize AI models with minimal labelled data. Businesses and developers prefer n-shot prompting, allowing AI systems to generate accurate responses without extensive retraining. The versatility of this approach makes it particularly beneficial in applications requiring adaptive learning, such as chatbots, content generation, and predictive analytics. The growing adoption of large language models (LLMs) and their ability to perform complex tasks with minimal input further drive the demand for n-shot prompting solutions.
The BFSI segment exhibits a CAGR of 33.5 % during the forecast period. The growing adoption of AI-powered chatbots, fraud detection systems, risk analysis models, and personalized financial advisory services has driven demand for advanced prompt engineering solutions in banking, financial services, and insurance. Financial institutions leverage AI-driven tools to enhance customer experience, automate routine queries, and improve fraud prevention mechanisms.
Full Report: https://www.kbvresearch.com/prompt-engineering-market/
The North America region dominated the Global Prompt Engineering Market by Region in 2023; thereby, achieving a market value of $825.9 million by 2031. The Asia Pacific region is experiencing a CAGR of 35.8% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 34.4% during (2024 - 2031).
By Component
By Application
By Technique
By Industry
By Geography
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