Splunk announced the latest enhancements to the Splunk observability portfolio including advanced product innovations for Splunk Application Performance Monitoring (APM), Splunk Real User Monitoring (RUM), Splunk Synthetic Monitoring, Splunk Log Observer, Splunk Infrastructure Monitoring and Splunk IT Service Intelligence.
According to a new market research report "Continuous Delivery Market by Deployment Mode (On-premises and Cloud), Organization Size, Vertical (BFSI, Retail and eCommerce, Media and Entertainment, Telecommunication, Healthcare, Manufacturing, Education), and Region - Global Forecast to 2023", published by MarketsandMarkets, the market size is expected to grow from USD 1.65 Billion in 2018 to USD 3.85 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 18.5% during the forecast period.
Some of the factors that are expected to drive the growth of the Continuous Delivery Market include some of the business values, such as faster time-to-market, the better quality of product, competitive advantage, higher customer satisfaction, and the reduced cost of development, coupled with the adoption of continuous delivery practices. However, open source continuous delivery tools and projects would dominate commercial continuous delivery tools. This is expected to create barriers for the market growth.
- The on-premises deployment mode is expected to hold the larger market share during the forecast period: The on-premises deployment mode is the traditional approach of implementing continuous delivery tools across enterprises' IT ecosystem. This deployment mode provides organizations full control over their software that can be handled and managed by their own IT staff. However, it limits the storage capacity that is expected to keep up with new functionalities and technologies, whenever there is an upgradation.
- The large enterprises segment is expected to hold the larger market share during the forecast period: Large enterprises are defined as business entities employing over 1,000 employees. The adoption of continuous delivery tools among large enterprises would be higher, and this trend would continue during the forecast period. Large enterprises are keen on investing in new and latest technologies to run their businesses effectively. They are also modernizing their legacy applications to reduce their Capital Expenditure (CAPEX) and Operating Expenditure (OPEX). The large enterprises have dedicated in-house IT resources with sufficient IT budgets, and can, therefore, consider adopting continuous delivery tools.
- The media and entertainment vertical is expected to grow at the fastest rate during the forecast period: The advent of digital media content and digital media platforms has pushed the media and entertainment firms to become wholly digitalized companies from running entirely on analog data and devices. The vertical has started adopting DevOps and continuous delivery tools for its applications and software, as the demand for fast updates and continuous application releases is growing. Moreover, accessible technologies have created barriers for entering into all the areas of the media and entertainment vertical, and led to the explosion of content as well as competition. State-of-the-art new entrants pose serious threats to the long-time key players. Every sector of the media and entertainment vertical is transforming. The print media is turning into broadcast media, social media platforms are transforming as the providers of news and videos, and video streaming platforms are venturing into film and television production. However, the traditional media and entertainment companies are still struggling to adapt to digital transformations.
- North America is expected to hold the largest market share during the forecast period: As per the geographic analysis, North America is expected to hold the largest market share during the forecast period. The region is expected to dominate the overall Continuous Delivery Market, as it is the most advanced region in terms of technological adoption. This can also be attributed to the presence of developed economies, such as the US and Canada, and their focus on innovations obtained from R&D technologies. Organizations in North America are investing in technological transformations, such as software (customized and off-the-shelf) implementation services and consulting with the priority area being digital transformation. The increasing adoption of agile and DevOps technologies is the most noticeable trend today, resulting in the decentralization of the certain types of testing. The increasing focus on speeding up innovations and the time-to-market have given rise to the high usage of continuous delivery tools and software. These trends also reflect positively in the IT spend of organizations, which in turn, help them adopt new or emerging technologies.