Press release
Bug Tracking Software Market to Expand with Significant CAGR During 2017 - 2025
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Increasing advantages and benefits of the bug tracking software is one of the important driving factors in the global bug tracking software market. Efficient tracking of bugs permits companies to keep a record of the bugs that often come up and further makes it simpler to resolve the repetitive problem. Additionally, before it turns into a malicious threat, these records aid software developers to emphasis only on the serious issues and can decrease the strength of the bug. The software is flawlessly upgraded and installed, since most of the bug tracking software is open source. Shifting to a cloud-based bug tracking software is also an important factor likely to bolster growth of the bug tracking software market during the forecast period. Various platforms such as Microsoft Azure and Google Drive are boosting the adoption of cloud-based solutions from on premise software models. Additionally, factors like easy upgrade of cloud-based infrastructure over their counterparts and cost-effectiveness are further encouraging the use of cloud-based solutions, which will additionally drive the adoption of bug tracking software over the next couple of years.
Despite various drivers, there are certain factors that are likely to hinder growth of this market during the forecast period. Adoption of bug tracking software among non-technical end-users.is one such factor restraining the growth of the bug tracking software market.
Advancement in existing products is likely to create opportunities in the global market. Currently, there are few differentiated products in the market. Smart players are already tapping into the opportunity by channeling money into development of effective and differentiated products. This is expected to strengthen competition in the coming years.
On the basis of deployment type, the bug tracking software market has been bifurcated into on-premises and cloud. The cloud-based deployment model witnessed highest market revenue during the forecast period. The software is hosted within the cloud and is seamlessly accessed using a web browser in the cloud-based deployment model. Moreover, responsive accessibility related to the storage is further boosting demand for bug tracking software. Additionally, in cloud, hosting a bug tracking software is easy, thereby removing extra investment in hardware and requires less human effort that is likely to further boost the growth of the bug tracking software market across the world.
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The geographical bifurcation of the bug tracking software market includes North America, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to hold the highest market revenue throughout the forecast period. Increasing investment in software testing in countries like Canada and the U.S. is likely to drive the growth of the market in this region during the forecast period.
Some of the key companies in the bug tracking software market comprises Atlassian (Australia), International Business Machines Corporation (U.S.), JetBrains s.r.o.(Czech Republic), Zoho Corporation (U.S.), Airbrake (U.S.), Axosoft, LLC (U.S.)., Inflectra Corporation (U.S.), Bugsnag Inc. (U.S.), Countersoft (U.S.), and Fog Creek Software (U.S.).
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