In 2023, it is anticipated that the market for version control systems would be valued more than USD 757.5 million. The market is expected to rise in sales to USD 2.1 billion by 2033. According to Future Market Insights (FMI), this market is expected to grow at a high rate, with an estimated 10.8% annual growth rate from 2023 to 2033. The primary driver of this expansion is the growing need from companies all around the world to update and streamline their software development procedures.
Traditionally standalone, version control systems are now being integrated into various software products. This integration allows developers to utilize the advanced features of version control systems while effectively tracking changes to files. Advancements in technology are driving automation and digitization efforts, aimed at reducing manual tasks and errors associated with software development. Additionally, the rising demand for easy-to-use systems highlights the preference for user-friendly interfaces.
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As a result, the elevated demand for automated software management and tracking tools is projected to propel market growth. 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 USD 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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