Press release
Global Bug Tracking Software Market is Propelling at 9.84% of Growth Rate throughout 2020-2028
Global Bug Tracking Software Market
"Browse 39 market Data Tables and 39 Figures spread over 140 Pages, along with an in-depth TOC on Global Bug Tracking Software Market Forecast 2020-2028".
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A bug is an error or a defect in a program or the entire computer system, resulting in an unpredicted and invalid outcome. The global bug tracking software market refers to a tool, which identifies, report and supervises data on bugs, which occur in software. This tool enables several functionalities, including backlog management, defects tracking, task management, issue tracking, workflow management, and ticket management.
Surging Investments in ICT is driving the Bug Tracking Software Market Globally
Information and communications technology (ICT) is a catalyst for economic progression and a boost to the global networked economy. ICT firms have mastered the functioning of next-generation technologies, which is creating disruptive waves in every sector. Hence, significant funding has been witnessed in the ICT market, which is also expected to continue in the future. Over the next few years, the conventional tech expenditure will be inclined towards four platforms, namely, cloud, mobile, social media, and big data/analytics. As of now, capital saving incurred by cloud and automation will be diverted on a large scale towards technologies such as AI, robotics and AR/VR. Moreover, Next-gen security in terms of these technologies is also set to drive the market growth.
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Information Technology: The Largest Industry Vertical in the Global Market
One of the essential aspects of the entire software development life cycle is bug tracking. The testing and development team in collaboration, use bug tracking software based on the suitability of a particular product development cycle. This is required to safeguard the product from unidentified or unresolved bugs. The increasing integration of technologies and the growing volume of the codebase, which requires testing, are some of the major factors driving the demand for bug tracking software in the information technology industry. Besides, rising application of DevOps, Agile, Kanban, Scrum and other methodologies are further expected to fuel the market growth.
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North America - The Dominating Region
The global bug tracking software market was dominated by the North America region, contributing the colossal share around 36.25% in the year 2019. The growth of the market in the region is attributed to the significant number of software development players established in the region that are already utilizing bug tracking systems. The region also enjoys the presence of several retailers, which is also boosting the market growth. Furthermore, rising penetration of the internet and the implementation of advanced technologies like the AI is projected to fuel the regional market over the forecast period.
Some of the prominent companies operating in the market are Airbrake LLC, Jetbrains SRO, Atlassian Corporation PLC, Inflectra Corporation, Raygun, Bugsnag Inc., Reqtest, Axosoft LLC, Nulab Inc. and Zoho Corporation Pvt. Ltd.
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