IMARC Group, a leading market research company, has released a report titled “Version Control Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global version control systems market size reached US$ 682.8 Million in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 1159.3 Million by 2028, exhibiting a growth rate (CAGR) of 9.3% during 2023-2028.
Version control systems (VCS) are software tools typically employed by developer teams to manage and monitor changes in software code. They facilitate quick iteration and collaboration on new products or software features while assisting teams in meeting customer needs and delivering business value. They aid enterprises in improving project development speed, leveraging faster product delivery and productivity, reducing development time, enabling successful deployment, and allowing remote employee contributions from anywhere in the world. In addition, they help minimize the chances of errors and conflicts and eliminate the need for manual change tracking and management. As a result, version control systems (VCS) are widely adopted in programs such as word processors and spreadsheets.
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Version Control Systems Market Trends and Drivers:
The market is primarily driven by the increasing demand for digitalization and automation in software development processes. In addition, the widespread adoption of smartphones and tablets and the surging need for user-friendly solutions are escalating the demand for automated tracking tools and software solutions, thereby contributing to market growth. Moreover, the introduction of open-source and cross-platform VCS, such as subversion, git, and GitHub, that supports numerous platforms, languages, technologies, and frameworks represents another major growth-inducing factor. Besides this, the increasing product application in wearable technology products and smartphone apps such as mHealth is accelerating the demand for the latest updated version. Furthermore, the emergence of machine learning (ML) and artificial intelligence (AI) in several applications and software in the healthcare and life science verticals is creating a positive market outlook.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
Centralized Version Control Systems (CVCS)
Distributed Version Control Systems (DVCS)
Breakup by Deployment Type:
On-premises
Cloud-based
Breakup by Enterprise Size:
Large Enterprises
Small and Medium Enterprises
Breakup by End Use:
BFSI
Education
Healthcare and Life Sciences
IT and Telecom
Retail and CPG
Others
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Amazon.com Inc.
Atlassian Corporation Plc
GitHub Inc. (Microsoft Corporation)
International Business Machines Corporation
LogicalDOC
Luit Infotech
Micro Focus
Perforce Software Inc.
PTC Inc.
Unity Software Inc.
WANdisco plc.
Wildbit LLC.
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