New York, USA, Aug. 04, 2021 (GLOBE NEWSWIRE) — As per the latest report by Research Dive, the global DevOps market is expected to witness a rise in revenue from $4,461.2 million in 2019 to over $23,362.8 million by 2027, at a steady CAGR of 22.9% from 2020-2027.
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Growth: DevOps technology provides a platform to organizations that are looking towards bringing a shift into the market and its requirements. It assists in reducing the number of obstacles between the stakeholders and customers, thus ensuring seamless communication between the designing and IT operations services. Additionally, businesses today require applications that can be delivered at a faster pace which can be made possible with DevOps technology. These factors are expected to contribute to the growth of the market in the forecast period.
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Restraints: For most organizations, the concept of DevOps is fairly new which could lead to them being hesitant to implementing it into the business. Also, most individuals may not have the necessary skills to ensure smooth operation of the technology. These factors in addition to the fact that the pricing of the technology is extremely high, especially for start-ups and other small business are predicted to limit the growth of the market in the analysis period.
Opportunities: Due to constant advancements in technology, the use of artificial intelligence and machine learning is set to make DevOps platforms more reliable resulting in efficient solutions. Also, several major technology firms such as Google and Microsoft have been working on innovations to help develop the DevOps systems further. By using and implementing new age technology such as 5G, edge technologies, blockchain analysis, and AI, companies have building the presence of DevOps providing the market with an opportunity to grow further.
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Impact of COVID-19 on the Global DevOps Market
Towards the end of 2020, multiple countries reported the spread of the coronavirus which led to the declaration of a pandemic. The market was affected and several businesses had to shut down their operations. This situation built upon the importance of having cloud systems that can help businesses function efficiently even during crucial times like these. Multiple firms built up and enhanced their IT infrastructure which helped them stay afloat during the lockdowns and other restrictions. These initiatives helped the market stabilize and grow even amidst a pandemic.
The market is segregated into multiple segments based on solution, deployment type, end user, and region.
Monitoring and Performance Management Sub-Segment to Gain Highest Revenue
By solution, the monitoring and performance management sub-segment is expected to gain the highest revenue of over $6,410.3 million by 2027 and is expect to grow further. This is due to the utilization of DevOps by organizations for several management processes such as full stack monitoring. It also ensures smooth functioning of the performance management infrastructure which consists of cloud networks, web and application based servers and more. Additionally, its essential that businesses observe the customers behaviour which can help provide the necessary response if a requirement arises. These factors are expected to add to the growth of the segment.
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Cloud Sub-Segment to Dominate the Market
By deployment type, the cloud sub-segment garnered a revenue of $2,944.2 million in 2019 and is anticipated to rise further in the analysis period. This growth is credited to the accessibility factor where any data stored on the cloud can be accesses from any location whenever required. It is also an economical choice due to which the cost of testing and operation is also lower which is set to contribute to the rapid growth of the segment.
Small and Medium Enterprises (SMEs) Sub-Segment Set to Hold Highest Market Share
By end user, the small and medium enterprises (SMEs) sub-segment garnered a revenue of $2,292.1 million over decades and is predicted to rise significantly in the forecast period. The implementation of DevOps by the smaller businesses for efficient development services as well as software optimization is set to add to the growth of the segment. To add further, the technology is known to save time in the processes such as designing and testing further propelling the growth of the segment.
The North America region has held a market share of over 47.5% for decades and is predicted to grow further in a steady manner in the analysis period. Countries such as the USA and Canada are known for their rapid progress in technology which has ensured constant innovations over the years. These technically advanced economies are further expected to invest in technology while also ensuring that multiple organizations use and implement DevOps into their services. These factors are set to contribute to the rapid growth of the region in the forecast period.
Key Market Players
The report also contains an extensive list of key players whose strategies have assisted in the growth of the market. These include mergers, product launches, partnerships, and collaborations. Some of them are as listed below –
2. Hewlett Packard Enterprise Development, LP
4. Amazon Web Services
9. Alibaba Group Holding Limited
10. Micro Focus
The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
Further, the report outlines and presents several aspects of these key players such as financial performance, SWOT analysis, recent strategic moves & developments, and product portfolio. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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