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Version Control System Market Overview
The global version control system market is expected to grow at a substantial rate during the forecast period (2020–2030). Version control solutions enable the management of changes and configurations in an application and are primarily used for tracking modifications in software development projects. The massively growing usage of smartphones that require continuous monitoring and upgrade is a major factor contributing to the market growth. Moreover, with the advent of big data, proliferation of automated tools as business solutions, cloud-based deployment of enterprise solutions across small and large organizations, and increase in the number of data-intensive industries, the demand for version control solutions is witnessing an upward spiral around the world.
Based on component, the version control system market is bifurcated into solutions and services, of which solutions held the larger share in 2019. This can be primarily attributed to the significantly high adoption of advanced technology solutions among enterprises to monitor and safeguard their assets. Additionally, on the basis of deployment, the market is categorized into cloud and on-premises, of which the cloud-based category is expected to grow at a faster rate during the forecast period.
On the basis of industry, the version control system market is classified into information technology (IT) & telecom; banking, financial services, and insurance (BFSI); healthcare & life sciences; retail & consumer packaged goods (CPG); education; and others. Among these, the IT & telecom category is expected to dominate the market during the forecast period, which can be attributed to the incremental release of updated software versions, developments in mobile applications, and the rising need in organizations for identifying and troubleshooting software bugs.
Globally, APAC is expected to be the fastest-growing market for version control systems and North America is expected to continue leading the market with the highest revenue contribution during the forecast period. The growth in the North American market is mainly driven by factors such as heavy spending on digital infrastructure development and technological advancements in secured cloud-based solutions.
Version Control System Market Dynamics
The increasing need to reduce complexities in software development in organizations is one of the key drivers for the version control system market. The system enables software developers to track source code changes and ensure smooth software management. Additionally, technological advancements aimed at automating processes and minimizing human errors for loss prevention can be viewed as another prime factor behind the augmenting growth of the market, globally.
The proliferating number of small and medium-sized enterprises (SMEs) and their growing inclination toward advanced technologies for improving product development are the key factors creating a potential market for version control systems in a large number of countries. This can be particularly noticed in developing countries, such as India, China, and Brazil, where the software industry is expected to continue being bullish. In addition, with the advent of Industry 4.0, the development of advanced software solutions would rise exponentially in the coming years. Such solutions would require real-time monitoring and management in addition to capabilities to be shared with multiple developers for accurate results. This would result in an enhanced need for data security and software management solutions, thus generating ample scope for the adoption of these systems.
Version Control System Market Competitive Landscape
Some of the major players in the version control system market are Atlassian Corporation PLC, Amazon Web Services Inc., Broadcom Inc., Canonical Ltd., CollabNet Inc., GitHub Inc., International Business Machines (IBM) Corporation, IC Manage Inc., Luit Infotech Pvt. Ltd., Micro Focus International PLC, Microsoft Corporation, Perforce Software Inc., SourceGear LLC, Dynamsoft Corporation, March Hare Pty. Ltd., RhodeCode Inc., and Wildbit LLC.
The report also covers country-wise market analysis. Some of the major countries covered in the report are the U.S., Canada, France, Germany, the U.K., Italy, Spain, China, Japan, India, South Korea, Australia, Brazil, Mexico, South Africa, Turkey, Saudi Arabia, and the U.A.E.
Version Control Market Size Breakdown by Segment
The version control market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Component
Based on Deployment
Based on Industry