LONDON--(BUSINESS WIRE)--The global version control systems market is expected to post a CAGR of close to 11% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is rising demand for better software development. IT consolidations in organizations have been increasing to improve operational efficiency and to achieve economies of scale. The ever-increasing consolidation of IT infrastructure such as data centers and networking systems in organizations is forcing C-suite executives to implement advanced IT service delivery models such as shared and managed IT services. The continual change in technology and the need for IT modernization in numerous industries such as manufacturing, BFSI, telecommunication, and healthcare are the key factors for the growing adoption of IT services. The demand for consolidated IT services is also expected to grow with the increase in IT consolidation across industry verticals in the public sector. Therefore, with the growing IT consolidation, software development is also increasing, thereby driving the demand for version control systems.
This market research report on the global version control systems market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the availability of version control as a service as one of the key emerging trends in the global version control systems market:
Global version control systems market: Availability of version control as a service
Currently, several companies are increasingly adopting cloud-based version control services since these services can eliminate many of the installation and maintenance costs associated with in-house hosting. Version control services offer secure software development along with regular maintenance tasks such as backing up the repositories at regular intervals and implementing tested recovery strategies. Compared with on-premise services, cloud-based services are more economical since organizations can extend their operations as required without additional investments in equipment, software, and other resources. Moreover, cloud-based version control services also ensure better project management helping to streamline the entire development process. Thus, with various advantages associated with version control systems, the market is predicted to grow steadily during the forecast period.
“The growth of the IT and telecommunications industry will propel the growth of the global version control systems market. Version controls system provide complete security and regulation of various applications such as constant software updates, debugging, and the development of mobile applications. Thus, these advantages are encouraging several companies to adopt the system, thereby driving the overall growth of the market,” says a senior analyst at Technavio for research on IT professional services.
Global version control systems market: Segmentation analysis
This market research report segments the global version control systems market by end-user (large enterprises and SMEs) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of more than 42% of the market share, followed by EMEA and APAC respectively. Although APAC held the smallest share of the market in 2017, it is expected to have the highest incremental growth, followed by the EMEA region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market sizing
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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