The version control systems market is growing at a rapid pace. Factors such as the proliferation of automation across industries and the adoption of version control systems in many end-user industries drive market growth. Technological advances and integration of AI into version control systems have improved VCS' performances simplifying operations.
Market Research Future predicts the maturity of the version control system market with a CAGR of 11.34% and market value of USD 779.44 million in the year 2023.
Besides, 5G network deployments worldwide impact the market growth positively, improving performances of version control and automation systems. With the rising adoption of cloud-based solutions in a number of enterprises, the market is projected to witness significant traction. Additionally, the rapid increase in information technology and telecommunication industries boosts the market size.
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According to Market Research Future (MRFR), the global version control systems market is poised to grow at an impressive CAGR during the forecast period (2020-2027). Increasing smartphone and mobile application use is a major driving force behind the market growth. Conversely, the implementation of varied applications such as ERP and CRM impedes the growth of the version control systems market.
Version Control Systems Market - Segmentation
The version control systems market is segmented on the basis of type, deployment type, organization size, vertical, and region. These segments are further sub-segmented into the following:
By type, the version control systems market is bifurcated into centralized version control system (CVCS) and distributed version control system (DVCS).
By deployment type, this market is segmented into cloud and on-premise.
By organization size, the market is segmented into small and medium-sized enterprise and large enterprise.
By vertical, the version control systems market is segmented into BFSI, IT and telecom, healthcare, education, retail, and others.
By region, North America, Europe, Asia-Pacific, and the rest of the world are the global segments.
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Version Control Systems Market - Geographical Analysis
North America dominates the global version control systems market. The region witnesses a rapid increase in DVCS adoption across industries. Besides, the largest market share attributes to the increased application of VCS in BFSI and IT telecom sectors in the region. Technical advances, alongside the increasing adoption of cloud-based services and solutions, substantiate the market growth.
With the increase in the need to reduce complexities related to software development, the US is expected to be one of the major markets for version technologies. Additionally, the strong presence of notable technology providers and well-established development centers facilitate the early development and adoption of advanced VCS technologies.
The Asia Pacific region stands second in the global version control systems market. The market growth is driven by the rising adoption of DevOps by organizations to minimize dependency issues in modern applications and gain reliable results. Additionally, the early adoption of IoT artificial intelligence (AI) technologies positively impacts the regional market growth.
The European version control systems market is emerging as a promising market globally. Factors such as the high adoption of version control systems in the healthcare and education industry influence market growth. Germany, the UK, France, and Italy hold substantial shares in the regional market. Besides, the growing adoption of on-demand cloud services and economic growth in the region drive the regional market growth.
Version Control Systems Market - Competitive Landscape
The version control systems market appears well-established due to the presence of several noteworthy players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers acquisitions, collaboration, expansion, and product/technology launch. These players focus on innovation and developments of new solutions, fuelling the already intensified market competition.
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Version Control Systems Market Key Players:
Players leading the version control systems market include
- IBM (US)
- CA Technologies (US)
- Microsoft (US)
- Atlassian (Australia)
- Amazon.com (US)
- Codice Software (Spain)
- CollabNet (US)
- Canonical Ltd. (UK)
- Micro Focus (UK)
- Luit Infotech (P) Ltd. (India)
- Perforce Software Inc. (US)
- LogicalDOC (US)
- SourceGear LLC (US)
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