Version Control Systems Market Future Insights, Market Revenue and Threat Forecast by 2023
Market Synopsis
The contemporary report by Market Research Future (MRFR) asserts that the global version control systems market 2020 is poised to acquire a considerable market valuation of USD 779.44 million at a moderate 11.34% CAGR over the review period.
Competitive Landscape
The chief market players identified by MRFR in the global market are CA Technologies (US), Microsoft (US), IBM (US), Amazon.com (US), Codice Software (Spain), Atlassian (Australia), Canonical Ltd. (UK), LogicalDOC (US), CollabNet (US), and SourceGear LLC (US).
Micro Focus (UK), Luit Infotech (P) Ltd. (India), and Perforce Software Inc. (US) are among the other players in the market.
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Drivers and Restraints
The rising adoption of smartphones and mobile applications is one of the key factors influencing the progress of the version control system market over the review period. Smartphones are integrated with mobile apps that require back-end support to ensure ease of management. The version control system enables application developers to track and compare previous files and sources and provides monitoring alterations that take place in the mobile application due to the control system. Consequently, the version control systems market is expected to witness a positive development impact owing to the growing implementation of smartphones and mobile applications. However, the deployment of varied applications such as CRM, ERP, and others in IT organizations is adversely impacting the growth of the version control systems industry in the forecast period.
Market Segmentation
The Version Control Systems Software Market is analyzed on the basis of type, organization size, deployment type, vertical, and region.
Based on the type, the version control systems market is bifurcated into a centralized version control system (CVCS) as well as distributed version control system (DVCS).
Based on the deployment type, this market is divided into cloud and on-premise.
Based on the organization size, the market is categorized into small and medium-sized enterprises and large enterprises.
Based on the vertical, the version control systems market is divided into BFSI, IT and telecom, healthcare, education, retail, and others.
Regional Overview
The geographical overview global version control software market has been directed in four major regions, specifically Europe, the Asia Pacific, North America, and the rest of the world (including Latin America and the Middle East and Africa).
Technological developments and increasing adoption of automated and digitalized tools in North American countries such as the US, Canada, and Mexico are expected to dominate the version control systems market over the forecast period. Large enterprises, as well as small and medium-sized enterprises in North America, have adopted version control systems as it systematically maintains the dynamics in an organization. An increase in the prerequisite to moderate complexities related to software development in IT companies such as IBM, CA Technologies, Microsoft, and others in the US is projected to be one of the significant factors for the dominance of North America in the version control systems market.
Europe is estimated to show a high growth rate over the review period owing to the rising investments of tech leaders such as IBM, Microsoft, Intel, and others in the European IT market. Additionally, the version control systems market is projected to observe a significant growth in the rest of the world's regional segment.
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Asia-Pacific is anticipated to be the fastest-growing region in the market due to the implementations of DevOps by establishments as it avoids reliance issues in current applications and delivers reliable results. The growing deployment of artificial intelligence (AI) in Asia-Pacific is anticipated to improve enterprises and enable the growth of the system. Europe is anticipated to witness positive development in the version control systems market over the review period, due to the growing demand for functional elements by establishments that want to manage documents and codes automatically.
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