New York, USA, June 06, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global DevOps market is anticipated to generate revenue of $23,362.8 million and grow at a noteworthy CAGR of 22.9% over the analysis timeframe from 2020 to 2027.
As per our analysts, the increasing demand for advanced DevOps technologies to improve various business operations with the rapidly changing market requirements is expected to fortify the growth of the DevOps market over the estimated period. Besides, the rising need for fast and constant application delivery systems is expected to bolster the growth of the market during the forecast period. Moreover, the increasing incorporation of innovative technologies such as machine learning, and artificial intelligence to deliver scalable DevOps platforms and solutions is expected to create massive investment opportunities for the market throughout the analysis timeframe. However, the high costs of implementing advanced DevOps technologies may hamper the growth of the market during the forecast period.
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Segments of the DevOps Market
The report has divided the market into various segments based on solution, deployment type, end-user, and region.
Solution: Monitoring and Performance Sub-Segment to be Most Lucrative
The monitoring & performance management sub-segment is predicted to garner a revenue of $6,410.3 million during the forecast timeframe. This is mainly because of the increasing utilization of DevOps tools for performance management of infrastructures such as cloud networks, apps, web servers, and many more. Moreover, the constant monitoring of customer behavior to optimize the timely response to customers and deliver complete customer satisfaction is expected to propel the growth of the market sub-segment over the forecast period.
Deployment Type: Cloud Sub-Segment to be Most Productive
The cloud deployment type sub-segment accounted for $2,944.2 million in the year 2019 and is expected to experience exponential growth over the analysis period. This is mainly because of the numerous benefits of cloud based-platforms such as remote access of files, lower deployment costs, and many more. Moreover, the growing demand for software automation is enhancing the demand for cloud-based DevOps services, which is expected to foster the growth of the DevOps market sub-segment during the forecast timeframe.
End-User: Small and Medium Enterprises Sub-Segment to be Most Profitable
The small and medium enterprises (SMEs) sub-segment generated $2,292.1 million in 2019 and is expected to continue steady growth over the analysis timeframe. This is majorly due to the rapid adoption of DevOps platforms by SMEs in software optimization and development services. In addition, several other benefits of DevOps technologies such as saving time for testing, designing, ideas, and many more, are expected to augment the growth of the market sub-segment during the estimated period.
Region: North America Region to Have Expansive Growth Opportunities
The North America region of the DevOps market held the maximum share of the market by growing at a CAGR of 47.5% and is expected to have a significant growth throughout the forecast period. This is mainly due to the presence of technically advanced economies that adopt DevOps technologies in this region. Moreover, the strong existence of highly competitive rivalry in this region which has a high focal point in application and software development is predicted to thrive the growth of the market over the analysis period.
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Covid-19 Impact on the DevOps Market
The outbreak of the Covid-19 pandemic has devastated various industries, however, it has had a positive impact on the DevOps market. Many businesses have adopted cloud systems and platforms to increase their business growth during the pandemic period. Moreover, many organizations started launching highly scalable, reliable and secured IT infrastructure to continue their business operations. All these factors have boosted the growth of the market during the period of crisis.
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Key Players of the Market
The major players in the DevOps market include
- IBM
- Amazon Web Services, Inc.
- Hewlett Packard Enterprise Development LP
- Oracle
- Cigniti
- Alibaba Group Holding Limited
- Microsoft
- Micro Focus
- Alphabet
- Broadcom, and many more.
These players are widely working on the development of new business strategies such as product development, mergers and acquisitions, and partnerships and collaborations to acquire the leading position in the global industry. – Avail full report here
For instance, in August 2021, Lucid, a leading provider of visual collaboration software, announced its collaboration with Microsoft Azure DevOps, a Microsoft product that provides version control, reporting, requirements management, and many more, for virtual whiteboard, Lucidspark. With this collaboration, the companies aimed to provide a flexible workspace to visualize backlogs, work items, and delivery plans which enabled users to identify project delays, complete reviews, and observe the journey of customers.
Further, the report also summarizes other important aspects such as the financial performance of the key players, SWOT analysis, the latest strategic developments, and product portfolio.
More about DevOps Market:
- DevOps Industry Growth Surges with the Rising Need for Efficient Business Operations
- What are the 10 Most Popular DevOps Used in today’s Time?
