DevOps Market Growing with a CAGR of 24.2% | Profitable Opportunities in the Industry Till 2030
DevOps Market Size
The global DevOps market grows due to rising demand for operational efficiency, automated software, and increased cloud adoption via PaaS solutions.
PORTLAND, OR, UNITED STATES, October 8, 2024 /EINPresswire.com/ -- According to the report, the global DevOps market Size generated $3.36 billion in 2017, and is expected to reach $9.40 billion by 2023, registering a CAGR of 18.7% from 2017 to 2023.
Rise in requirement of maintainability & efficiency of operational processes, surge in demand for automated software, and increase in adoption of cloud computing through PaaS solutions drive the growth in the market. However, lack of skilled professionals for development of effective DevOps application restrains the market growth. On the other hand, advent of internet of things (IoT) and shift from traditional data centers to hybrid cloud systems would offer new opportunities in the industry.
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Monitoring & performance management solution contributed to one-third of the total market share in 2017 and is expected to lead in terms of revenue during the forecast period. This is due to its ability to offer insights on scalability and performance patterns for various users and automatically detect all virtual hosts along with an entire visibility of cloud environment. However, lifecycle management is expected to register the highest growth with a CAGR of 20.62% from 2017 to 2023, owing to different features such as simplified compliance reporting, automated development & release processes, audit preparation, and improved flexibility. The report also offers insights on analytics, delivery & operations management, and testing & development.
Cloud deployment accounted for more than two-third of the total market share in 2017 and will maintain its leadership status by 2023. Moreover, this segment is expected to register the highest CAGR of 20.06% from 2017 to 2023. It is a lucrative segment, owing to low implementation costs, enhanced remote access, ease in availability, and integration of various services such as hybrid cloud usage within DevOps. The research also explores on-premise deployment.
Large enterprises contributed to more than half of the market share in 2017 and will continue to dominate throughout the forecast period. This is due to high capital investments promoting adoption and increase in need for effective collaboration and operational integration for effective DevOps implementation. However, the SMEs segment is expected to grow at the highest CAGR of 19.57% from 2017 to 2023, owing to surge in demand for faster software delivery and reduced IT expenditure along with rise in number of SMEs across various regions adopting DevOps.
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Asia-Pacific is expected to grow at the fastest CAGR of 20.94% from 2017 to 2023, owing to surge in demand for DevOps solutions, need to improve organizational efficiency, and high economic growth in this region. However, North America held the major market share, accounting for nearly half of the market share in 2017. This is due to increase in requirement for automation solutions along with rise in enterprise mobility and extensive wireless connectivity in the region.
Key market players analyzed in the research include IBM Corporation, Amazon Web Services, Inc., Oracle Corporation, Microsoft Corporation, Hewlett Packard Enterprise Development LP, VersionOne, Inc., EMC Corporation, Google, Inc., Red Hat, Inc., and CA Technologies.
Key Growth Drivers:
1. Cloud Adoption: The widespread use of cloud computing, especially Platform-as-a-Service (PaaS) solutions, is a major factor boosting the DevOps market. Cloud infrastructure supports scalability, flexibility, and faster deployment.
2. Automation: The increasing demand for automated software and processes allows for quicker releases, reducing manual errors and improving software quality. Automation tools for testing, deployment, and monitoring play a pivotal role in the growth of the DevOps market.
3. Operational Efficiency: DevOps enhances the efficiency of operational processes, minimizing downtime, increasing speed-to-market, and supporting agile methodologies.
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