Bug Tracking Software Market to See Massive Growth by 2026, Says Allied Market Research

The Objective of the "Bug Tracking Software Market" report is to depict the trends and upcoming for the Bug Tracking Software industry over the forecast years. Bug Tracking Software Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2019 to 2026 mulling over 2018 as the base year of the market study. Attentiveness for the market has increased in recent decades due to development and improvement in the innovation.

The global bug tracking software market was estimated at $218.2 million in 2018 and is expected to hit $601.6 million by 2026, registering a CAGR of 13.6% during 2019-2026.

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Increase in adoption of DevOps & testing automation, rise in need to deliver bug-free projects successfully, surge in investment for software testing as well as cloud-based project management software fuel the growth of the global bug tracking software market. On the other hand, availability of free bug tracking software restrains the growth to some extent. Nevertheless, benefits in regards to bug tracking software, such as enhancing ROI by reducing cost of software development, early detection of bugs and understanding bug trends are expected to create lucrative opportunities for the key players in the industry.

The key market players analyzed in the report include Atlassian (JIRA), Bugsnag Inc., Axosoft, Airbrake, IBM, Zoho Corporation, Inflectra Corporation, Nulab (backlog), JetBrains, and Raygun.

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The North America region generated the highest revenue in 2018, holding nearly two-fifths of the total market. This is pertaining to large presence of software development companies where software testing is quite obligatory and the existence of majority of market vendors in this region. The Asia-Pacific region, on the other hand, would showcase the fastest CAGR of 16.2% during the forecast period.

The cloud segment contributed to nearly three-fifths of the total market revenue in 2018 and is expected to dominate throughout the forecast period. The rapid growth of the market is due to increasing need for mobility in businesses, rising adoption of cloud technology by small scale businesses and rapidly growing use of mobile apps. Moreover, the segment is projected to grow at the fastest CAGR of 14.5% during the study period.

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The large enterprises segment accounted for more than half of the total market share in 2018 and is anticipated to rule the roost throughout the estimated period. The fact that as this type of organizations have implemented bug tracking software at large-scale due to the rising demand for handling errors in complex software coding spurs the growth of the segment. Simultaneously, the small enterprises segment is predicted to register the fastest CAGR of 16.5% during 2019-2026.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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