According to a research report "DevOps Market by Type (Solutions and Services), Cloud Deployment Model (Public and Private), Organization Size (SMEs and Large Enterprises), Verticals (Telecommunications, IT & ITES, and BFSI) and Region - Global Forecast to 2028" published by MarketsandMarkets, the DevOps market size is expected to grow from USD 10.4 billion in 2023 to USD 25.5 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 19.7% during the forecast period.
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DevOps could be the only practical method to deal with diverse ecosystems efficiently since modern enterprise applications are ripe with complexity that keeps increasing due to the usage of numerous technologies, many databases, and various end-user devices. DevOps technologies can help in the four areas of culture, automation, measurement, and sharing (CAMS), which some people divide into four categories. These technologies can improve the efficiency and collaboration of development and operations workflows by automating formerly laborious, manual, or static procedures involved in integration, development, testing, deployment, or monitoring.
IT and ITeS segment to capture a large market share during the forecast period
The DevOps market, by vertical, includes BFSI, healthcare and life sciences, telecommunication, IT and ITeS, retail and consumer goods, government and public sector, energy & utilities, media and entertainment, education, manufacturing, and other verticals. In the IT and ITeS sector, DevOps has undergone a revolution. IT operations and software development are combined in the DevOps methodology. The system's development life cycle will be sped up, and high-quality software will be delivered continuously. The industry's integration of code, application administration, and application maintenance depends on DevOps developers. Automation and procedural consistency are the core principles of DevOps. The concept of security is one of the most important challenges that any organization or corporation must face, especially those in the IT and ITeS sector. The issue of security is peculiar since there is a greater possibility of automating issues as users automate more. Due to the fundamentally managed nature of every automation in this industry, the DevOps concept has a lot of potential for development. Lastly, DevOps engineers identify potential vulnerabilities the IT system might face and create strategies to protect it from them. Engineering efforts also concentrate on developing systems that are resistant to breaches in order to defend the system from attackers.
Large enterprises segment to capture a large market share during forecast period
The DevOps market has been segmented by organization size into large enterprises and SMEs. As per organization size, Large enterprises are expected to capture a large market share during the forecast period. Large businesses can maintain the Software Development Life Cycle (SDLC) through the use of DevOps. To enhance and automate the development and operation processes, large businesses are actively investing in various SDLC phases. Large businesses' need for adaptable, scalable, and convenient services will likely spur industry participants to develop fresher technologies and creative fixes. Another strategy for implementing DevOps involves adding a new line item to the budget for the business: setting up an internal DevOps department. The hiring of DevOps experts with formal training is unquestionably advantageous. Unfortunately, there is currently a dearth of genuinely excellent DevOps professionals on the market. According to secondary data, large enterprises are not only implementing DevOps, but more than 90% have already experienced or anticipate having significant benefits. These include improvements in delivery speed, development and operations costs, defect detection, capacity for innovation, and a host of other factors, ranging from 17% to 23%.
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North America segment to capture a large market share during the forecast period
The DevOps market has been segmented by region into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. As per region, North America is estimated to account for the largest market share in the global DevOps market in 2023, and this trend is expected to continue during the forecast period. North America is the region with the most established DevOps adoption due to a number of factors, including the existence of large enterprises with sophisticated IT infrastructure and the availability of technical expertise. Modernizations in the fields of containers, microservices, and cloud computing are some of the factors driving the adoption of DevOps globally. DevOps is also commonly used in the government and banking sectors. As the benefits of the cloud approach become more apparent, more firms are implementing it. North America's two largest contributors to the DevOps market are the US and Canada. The trend is expected to persist during the forecasting period. It is a region with strict regulations for a number of economic sectors and advanced technology.
Some of the major DevOps vendors are Broadcom (US), Microsoft (US), IBM (US), Atlassian (Australia), Google(US), AWS (US), Oracle (US), Cisco (US), Micro Focus (UK), and GitLab (US).
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