According to the latest research study released by Technavio, the global DevOps market is expected to grow at a CAGR of about 19% until 2020.
This research report titled ‘Global DevOps Platform Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments, including IT, BFSI, telecom, retail, and others.
“Sub-optimal collaboration between developers and system administrators and the lack of goal alignments impacts the overall business return on investment (ROI) of an organization. DevOps addresses such issues by enabling a close collaboration between developers and operations teams. In a DevOps-abiding environment, the bugs in the code is fixed instantaneously, which enables continuous deployment of software builds,” said Sunil Kumar Singh, one of Technavio’s lead analysts for consumer electronics research.
IT: largest segment of the DevOps platform market
The IT industry is embracing DevOps solutions to achieve faster development of software products and to release multiple software modules in a short span of time. Software quality improvement and enhanced customer services are other factors that are powering high adoption of DevOps platform solutions across IT industry verticals. Software development firms are investing in advanced IT solutions in a bid to modernize the IT domain and to remain competitive in the global IT market.
Mobile and social are likely to augment the role of IT role in the financial services sector during the forecast period. It has therefore prompted regulators to upgrade compliance requirements, as large volumes of data need to be managed efficiently. In addition, automation in operational processes is encourages IT firms to implement next-generation IT solutions. Technavio researchers observe that budget constraints in the IT industry have largely compelled C-suite executives and business managers to reduce costs associated with software development through innovative IT solutions.
BFSI: second largest segment of the DevOps market
The BFSI sector is has become an aggressive digital marketer with the use of the mobile channel. Technavio researchers expect this trend to maintain its momentum across geographies until the next four years. The need to enable a customer’s access to financial services through mobile platforms and continuous engagement of customers is drives the demand for DevOps tools in this sector.
Mobility has become the next big thing as consumers continue to rapidly adopt smartphones and smart devices for commercial and banking transactions. Hence, the growing use of smartphones and tablets and the need to digitize distribution channels has encouraged banks to sharpen their focus on multi-channel interactions, such as Internet banking, mobile banking, kiosks, and ATMs, in the interests of promoting a seamless user experience. However, the BFSI sector needs to respond to dynamic market challenges, and this has prompted IT leaders to develop systems that uphold reliable and secure business applications.
DevOps manages rapid developments, while closely integrating with operational process. The use of DevOps can bring about transformational changes that drive profitable and effective results.
Telecom segment of the global DevOps market
The telecom industry’s high adoption of DevOps stems from the changing requirements in development processes. DevOps can promote highly efficient development and test processes in a production-like environment, and this makes DevOps the preferred choice among carriers compared to waterfall methods. In addition, growing competitive pressures have also encouraged several established telecom players to drive the uptake of solutions that can reduce time to market and optimize costs. The use of DevOps tools helps achieve such business objectives in the telecom sector, and it is likely to fuel its demand through the forecast period.
Retail segment of the global DevOps market
Retailers are embracing advanced IT solutions to transform IT environments and remain competitive in the marketplace. Retailers are revamping their front-end and back-end mainframe lifecycle development processes with the help of DevOps in a bid to boost business efficiencies. DevOps platform solutions are helping retailers change the configurations of their software applications quickly in response to evolving consumer needs.