Blog Information
- Posted By : Abhay Kumar
- Posted On : Mar 21, 2023
- Views : 75
- Category : General
- Description : The global version control systems market size reached US$ 682.8 Million in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 1159.3 Million by 2028, exhibiting a growth rate (CAGR) of 9.3% during 2023-2028.
Overview
According to the latest report by IMARC Group “Version Control Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global version control systems market size reached US$ 682.8 Million in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 1159.3 Million by 2028, exhibiting a growth rate (CAGR) of 9.3% during 2023-2028.
Version control systems (VCSs) represent software tools that are usually utilized by developer teams for managing and tracking several changes in software codes. They enable increased iteration and collaboration on a new product or software features while helping teams in providing business values and meeting customer requirements. Consequently, version control systems assist enterprises in enhancing project development speed and enable employees to contribute, irrespective of their geographical location. In addition to this, they reduce the possibilities of errors and conflicts and eliminate the need for manually tracking and managing changes.
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Market Trends:
The escalating demand for digitalization in the software development process and the widespread adaption of smartphones and tablets are primarily driving the version control systems market. Additionally, the inflating need for user-friendly solutions is augmenting the adoption of automated tracking tools, which is further catalyzing the market growth. Besides this, the growing utilization of version control systems, as they offer portability, auditing and interoperability benefits, manage numerous versions of codes, eliminate duplication of efforts, etc., is acting as another significant growth-inducing factor. Moreover, they are also gaining extensive traction among software developers to increase productivity and automate tasks, such as deployment and testing, thereby positively influencing the global market. Apart from this, extensive R&D activities are stimulating the market growth. Furthermore, the introduction of open-source and cross-platform VCS, including Git, Subversion, GitHub, etc., that support platforms, frameworks, languages, and various sets of technologies is expected to fuel the version control systems market over the forecasted period.
Breakup by Type:
- Centralized Version Control Systems (CVCS)
- Distributed Version Control Systems (DVCS)
Breakup by Deployment Type:
- On-premises
- Cloud-based
Breakup by Enterprise Size:
- Large Enterprises
- Small and Medium Enterprises
Breakup by End Use:
- BFSI
- Education
- Healthcare and Life Sciences
- IT and Telecom
- Retail and CPG
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Amazon.com Inc.
- Atlassian Corporation Plc
- GitHub Inc. (Microsoft Corporation)
- International Business Machines Corporation
- LogicalDOC
- Luit Infotech
- Micro Focus
- Perforce Software Inc.
- PTC Inc.
- Unity Software Inc.
- WANdisco plc.
- Wildbit LLC.
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