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Global DevOps Market to Soar, Expected to Reach USD 42 Billion by 2031: Transparency Market Research

06-12-2024 04:39 PM CET | IT, New Media & Software

Press release from: Transparency Market Research

The Global DevOps Market is poised for explosive growth, projected to skyrocket from USD 8.6 billion in 2022 to an impressive USD 42.0 billion by the end of 2031, advancing at a robust compound annual growth rate (CAGR) of 19.3% from 2023 to 2031, according to a recent market research report.

Key Drivers of Growth
The rapid adoption of cloud technology and the escalating need for faster software delivery are primary catalysts propelling the DevOps market forward. The integration of cloud platforms allows DevOps teams to adapt swiftly to changing requirements and collaborate across diverse enterprise environments, significantly accelerating the software development process. Cloud services and solutions have become integral in overcoming the limitations of legacy systems, enabling agile development and high-quality software delivery.

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Security Integration Opening New Opportunities

As the DevOps landscape evolves, the integration of security-commonly referred to as DevSecOps-into the DevOps pipeline is becoming increasingly crucial. This integration addresses the enterprise paradox of needing to innovate quickly while maintaining robust security protocols. Incorporating security practices throughout the entire product lifecycle, rather than as an afterthought, reduces organizational risk, enhances agility, and improves the overall security and reliability of products. According to a GitLab survey, the adoption of DevSecOps practices among rapid development teams surged from 20% in 2019 to 60% in 2021, highlighting a significant trend towards securing DevOps environments.

Regional Market Dynamics

North America is anticipated to dominate the DevOps market due to the high concentration of technology companies in the region, particularly in the United States. These companies are increasingly adopting DevOps to streamline their software development processes, reduce time-to-market, and improve overall efficiency. Meanwhile, the Asia Pacific region is expected to experience the highest growth rate during the forecast period. The rapid expansion of the IT industry in this region, coupled with a growing emphasis on software development, cloud services, and digital solutions, is driving the adoption of DevOps practices to enhance efficiency and reduce development cycles.

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Key Players and Strategic Developments

The DevOps market is characterized by a high level of competition, with major players such as Microsoft Corporation, Broadcom Inc., Atlassian Pty Ltd, IBM Corporation, Amazon Web Services, Inc., Google LLC, GitLab B.V., Open Text Corporation (Micro Focus), Cisco Systems, Inc., Oracle Corporation, Dell Inc., and HashiCorp, Inc. at the forefront. These companies are investing heavily in research and development to introduce innovative DevOps solutions that meet the evolving demands of the market.

Recent strategic developments in the industry include Copado's technology partnership with nCino, Inc., announced in June 2023, aimed at providing continuous integration, continuous delivery, and automated testing tools for nCino's cloud banking platform. In December 2022, Salesforce launched its DevOps Center to facilitate faster technological solution delivery. Furthermore, Appfire's acquisition of 7pace in September 2022 marked a strategic expansion into the Microsoft ecosystem, enhancing time management services within Azure DevOps and GitHub environments.

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0About Us Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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Website: https://www.transparencymarketresearch.com
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