DevOps Market Projected to Reach USD 57.90 Billion by 2030 at a CAGR of 24.2%, Predicts Allied Market Research Study
The report segments the global DevOps market on the basis of component, cloud type, enterprise size, industry vertical, and region.
PORTLAND, OR , UNITED STATES, UNITED STATES, February 13, 2023 /EINPresswire.com/ — High rate of adoption among SMEs and software development application and AI capabilities of DevOps solutions are expected to open new opportunities for the market players in the future. Rise in need for continuous and fast application delivery, applications running in the dynamic IT environment, and surge in focus on reducing CAPEX and OPEX have boosted the growth of the global DevOps market.
The report includes an analysis of major market players such as Amazon Web Services, inc., Broadcom, Dell Technologies, Inc., Google LLC, Hewlett Packard Enterprise Development LP, IBM Corporation, Micro focus, Microsoft Corporation, Oracle Corporation, and Rackspace Technology.
The global DevOps market was pegged at $6.78 billion in 2020, and is expected to reach $57.90 billion by 2030, growing at a CAGR of 24.2% from 2021 to 2030.
By cloud type, the public segment dominated the market in 2020, contributing to more than two-thirds of the global DevOps industry. However, the hybrid segment is projected to register the highest CAGR of 26.0% during the forecast period.
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By region, the global DevOps market across North America held the largest share in 2020, accounting for nearly half of the market. However, the market across Asia-Pacific is anticipated to register the highest CAGR of 26.3% during the forecast period.
By component, the solution segment held the largest share in 2020, accounting for more than two-thirds of the global DevOps market. However, the service segment is expected to register the highest CAGR of 25.9% from 2021 to 2030.
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Covid-19 scenario:
• The Covid-19 pandemic positively affected the growth of the DevOps market positively due to surge in demand for software and online web-based applications among businesses.
• During the Covid-19 outbreak, the need for DevOps solutions to streamline the process of software application development by promoting collaboration between several entities of the software development lifecycle increased.
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The report offers key drivers that propel the growth in the global market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.
Latest news and industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures and collaborations, product launches, market expansions etc. are included in the report.
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