The version control systems market is projected to reach a value of over US$ 757.5 million in the year 2023. According to an analysis by Future Market Insights (FMI), this market is poised for substantial growth, with a compound annual growth rate (CAGR) of 10.8% expected between 2023 and 2033. This growth is primarily driven by a strong global demand from enterprises for automating and digitizing their software development processes.
Version control systems that were previously standalone applications are now being integrated into a variety of software offerings. This integration allows developers to take advantage of the enhanced characteristics of a version control system while keeping track of every change to the file in question. Technological advances have resulted in a shift toward automation and digitization in order to reduce associated human tasks and errors. Furthermore, the ease of operation and user-friendliness reflect the high demand for the same.
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As a result, the elevated demand for automated software management and tracking tools is projected to propel market growth. The global version control systems market is expected to reach US$ 757.5 million in 2023. Increased requirements for digitization and robotics in the procedure for creating software, combined with the rising popularity of mobile devices such as tablets and smartphones, will likely stimulate the widespread implementation of software version control systems.
Key Takeaways from the Version Control Systems Market Report:
- With a market revenue share of 33.4% in 2022, North America was expected to have the largest share of the global market.
- By 2033, the global market is expected to be worth US$ 2.1 billion.
- Europe was expected to account for 29.5% of the global market.
- The segment of Centralized Version Control System was expected to account for 63.6% of the global market.
- Germany was expected to account for 8.7% of the global market.
Competitive Landscape:
- Redgate Software, a supplier of database DevOps solutions, implemented many forthcoming modifications to its inventory, such as Flyway, in October 2022, which would help businesses and organizations standardize and optimize cross-database advancement.
- The combined use of CircleCI and GitLab elevated the overall number of DevOps tools in July 2022. CircleCI added functionality for GitLab SaaS subscribers, enabling GitLab repositories to be integrated with the CircleCI system. CircleCI was able to obtain modified code from GitLab repositories while running the corresponding constructs as functions were tested earlier than going live as a result of this cooperation.
Leading Key Players:
- IBM Corporation
- Microsoft Corporation
- Broadcom, Inc.
- Micro Focus
- Apache Software Foundation
- Canonical
- GitHub
- Perforce Software
- Mercurial
- BitMover Inc.
- Codice Software
- Dynamsoft
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Version Control Systems Market Segmentation:
By Type:
- Local
- Centralized
- Distributed
By Deployment:
- Cloud
- On-premise
By Enterprise Size:
- SMEs
- Large Enterprises
By Industry:
- BFSI
- Healthcare
- IT & Telecom
- Retail
- Education
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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