DUBLIN – The “DevOps Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
The global DevOps market is expected to grow from $7.20 billion in 2021 to $8.95 billion in 2022 at a compound annual growth rate (CAGR) of 24.24%. The DevOps market is expected to reach $20.53 billion in 2026 at a CAGR of 23.08%.
The main components of DevOps include solutions and services. The DevOps solutions refer to tools and software that bridge the gap between software development, quality assurance, and IT operations, which helps to rapidly build software products and services while greatly boosting operational performance.
They are deployed on-premise or through the cloud in small and medium enterprises and large enterprises. These solutions or services are utilized by industry verticals such as information technology (IT) & telecom, banking, financial services and insurance (BFSI), retail, government and public sector, manufacturing, healthcare, and others.
North America was the largest region in the DevOps market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the DevOps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The increasing need for bridging the gap between IT and operations teams is propelling the growth of the DevOps market. The rapid growth in teams including multiple offices, the shift in business operations towards virtual offices, and off-site contractors have increased the gap between IT and operational teams, affecting business operations and productivity.
Companies operating in software development sectors are increasingly focusing on acquiring innovative DevOps tools and services to automate certain management functions and software deployment processes. According to a Harvard Business School study, poor collaboration between teams and inefficient work reduced productivity by 2% to 3%. Therefore, an increased need to bridge gaps between IT and operations teams is expected to boost the utilization of DevOps tools and services during the forecast period.
Technological advancements are the latest trend gaining popularity in the DevOps market. The companies in the DevOps market are incorporating innovative technologies like machine learning (ML) and Artificial intelligence (AI) to offer technological products, which are cost-effective and operationally beneficial.
For instance, in 2019 Microsoft Corporation, a USA-based multinational technology corporation, launched Azure machine learning operations (MLOps), which has integrated machine learning technology in DevOps to improve workflow efficiency through continuous integration, delivery, and deployment.
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1) By Component: Solution; Service
2) By Deployment Model: On-Premise; Cloud
3) By Enterprise Size: Large Enterprise; Small & Medium Enterprises
4) By Industry Vertical: Information Technology & Telecom; Banking, Financial Services, and Insurance; Retail; Government And Public Sector; Manufacturing; Healthcare; Others