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Global DevOps Market to Reach US$ 10.5 Billion by 2024: Advent of Artificial Intelligence (AI) & Machine Learning (ML) Facilitating Growth

According to the latest report by IMARC Group, titled “DevOps Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global DevOps market size reached US$ 3.5 Billion in 2018. DevOps is a portmanteau of development and operations, which includes a set of practices for automating processes between software development and information technology (IT). It involves a vast number of cross-functional teams, such as suppliers, partners, developers, business analysts, QA practitioners, security specialists, operations personnel, line-of-business owners, and enterprise and software architects. It promotes better communication, increases the potential to solve critical issues quickly, and helps to deliver applications and services at a high velocity. Moreover, DevOps is secure, cost-efficient and improves the overall quality of the application development process.

Global DevOps Market Trends:

DevOps helps in addressing a variety of inefficiencies faced during the software development lifecycle. Moreover, as it is practical, more accurate, incurs low maintenance expenditure and assists in reducing coding errors, numerous organizations are shifting toward automated software development. Apart from this, the growing popularity of Artificial Intelligence (AI) and Machine Learning (ML) is also propelling the market growth. AI and ML aid in processing significant amounts of information and performing tedious tasks, thereby enabling the IT staff to do more targeted work and anticipate problems and suggest solutions. Furthermore, with the increasing penetration of the Internet-of-Things (IoT), DevOps has gained immense traction worldwide on account of the co-dependence of the hardware and the embedded software that runs on it. Looking forward, the market value is projected to reach US$ 10.5 Billion by 2024, expanding at a CAGR of around 20% during 2019-2024.

Market Summary:

  • Based on the type, DevOps solutions represent the most preferred product, followed by services.
  • On the basis of the deployment model, the market has been segmented into public, private and hybrid clouds. Public cloud currently accounts for the majority of the total market share.
  • The market has been segregated into large, medium-sized and small-sized enterprises.
  • Based on the tool, the market has been divided into development, testing and operation tools.
  • On the basis of the industry vertical, the market has been classified into Telecommunications and Information Technology Enabled Services (ITES); Banking, Financial Services, and Insurance (BFSI); retail; manufacturing; healthcare; government and public sector; and others.
  • Region-wise, North America represents the largest market. Other segments include Europe, Asia Pacific, Latin America, and Middle East and Africa.
  • The competitive landscape of the market has been examined with some of the key players being International Business Machines (IBM) Corporation, Microsoft Corporation, Oracle Corporation, CA Technologies, Google LLC, Cisco Systems, Inc., Amazon Web Services, Inc., Cigniti Technologies Ltd., Hewlett Packard Enterprise Company, Dell EMC (Dell, Inc.), VersionOne Inc., Micro Focus International Plc., Puppet Labs, Inc., Red Hat, Inc., GitLab Inc., Chef Software, Inc., Docker Inc., and Atlassian Corporation Plc.

 

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