DevOps market to exceed $30 billion by 2028
The DevOps market is expected to surpass $30 billion by 2028, as reported in a research study by Global Market Insights. The growing demand to minimize system development lifecycles and increase business productivity through quick application deliveries is expected to contribute significantly to industry growth.
The rising demand for rapid software developments across industries is likely to further support the DevOps market growth. Advanced DevOps capabilities including shorter development lifecycles, reduced deployment failures, enhanced efficiency in communication, and cost reductions are driving the demand for DevOps solutions & services. Software upgrading has become extremely important; hence, enterprises are adopting DevOps solutions for quick developments & deployments.
The operations DevOps segment is poised to grow at a CAGR of over 20% from 2022 to 2028. DevOps provides development teams with easy access to debug the source code and make necessary changes in the code. It helps in preventing & minimizing risks associated with the deployment process. DevOps tools also provide automated codes, checking, and value stream management throughout the process until delivery.
The cloud-based deployment model segment is slated to witness exponential growth through 2028. Enterprises are transforming their existing businesses into cloud-based business models. They are majorly adopting hybrid cloud-based deployment models that aid in integrating DevOps solutions into traditional & virtual development platforms, thereby accelerating application development and delivery processes.
The demand for DevOps solutions & services is increasing across large enterprises due to multiple product developments & teams. Large enterprises form development teams as per business operations; DevOps tools may change according to organizational needs. For instance, Microsoft Corporation embraced DevOps and agile practices for the development & deployment of timely & updated solutions and is leveraging centralized DevOps units to automate maximum processes.
The DevOps market size in the healthcare sector
The DevOps market size in the healthcare sector is predicted to reach $4 billion by 2028. DevOps solutions help healthcare organizations to remain competitive by improving medical products as compared to the use of traditional development approaches. Organizations are leveraging DevOps in big data project deployments by using data sources including medical devices, lab reports, and electronic health records.
North America accounted for a significant share in the global DevOps market in 2021. The regional industry comprises major solution providers including IBM, Microsoft, AWS, Puppet, and Docker. In addition, the growing market penetration of software automation tools in Canada to deliver efficient software automation across BFSI and retail sectors has accentuated market growth.
The companies operating in the industry are focusing on collaborative developments in innovative DevOps solutions. For instance, in February 2021, Docker announced its partnership with JFrog. This partnership provides developers and DevOps enthusiasts using JFrog cloud with high performance access to Docker Hub and Docker Official Images for simplifying cloud-native application developments.
Despite the COVID-19 impact, the majority of PHS projects were operational as scheduled along with the introduction of additional projects. Additionally, the power sector, the backbone of the economy, witnessed no decline in the commencement of PHS projects. Furthermore, the ongoing vaccination drives and resuming of economies have instituted a favorable business scenario.
- The growing need for concurrent evaluations and rapid developments & deployments across enterprises are supporting technological developments in the market.
- Rising industry competition has pressurized enterprises to cut down the time to market new software launches and ensure smooth deployments of future patches through DevOps.
- Growing investments in the North America IT & telecom sector will support the market growth in DevOps-based security solutions.
- The adoption of cloud computing services is enabling enterprises to shift to cloud-based business models.
- Major players operating in the DevOps market include Amazon Web Services, IBM Corporation, Microsoft Corporation, Dell Technologies, Oracle Corporation, and Google LLC.
- The companies operating in the market are focusing on strategic collaborations for developing advanced DevOps solutions.