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According to a new market research report "DevOps Market by Type (Solutions and Services), Deployment Model (Public, Private, and Hybrid), Organization Size, Industry Vertical (BFSI, Healthcare, Telecommunications and ITES, Manufacturing), and Region - Global Forecast to 2023", published by MarketsandMarkets, the market size is expected to grow from USD 3.42 Billion in 2018 to USD 10.31 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 24.7% during the forecast period.
The growth of the DevOps Market is driven by several factors, such as increasing complexities in applications, growing need for continuous and fast application delivery, and applications running in the dynamic Information Technology (IT) environment. The DevOps Market is expected to gain major traction during the forecast period, due to the increase in the adoption rate of Artificial Intelligence (AI) and machine learning among enterprises.
The solutions segment is segregated into 3 components of DevOps pipeline. The different continuous solutions represent an agile way of working to build and deliver software applications. DevOps is in the initial phase of growth and organizations across the globe are rapidly adopting solutions for the application development. In terms of investment, solutions are the most expensive part of the DevOps lifecycle as most of the software tools for building and maintaining the application comes under this segment. Hence, the solutions segment is estimated to account for the larger market size in 2018 and is expected to grow with the same trend.
The public cloud segment may be offered free of cost or on a pay-per-use model, depending on the requirements from end-users. The public cloud segment is used for web servers and system architectures, where security and compliance are not the major issues. Ease of access and faster deployment of the public cloud are some of the major factors contributing to the high adoption of the public cloud. The public cloud segment offers various enterprise benefits, such as scalability, reliability, flexibility, and remote location access.
Large enterprises are defined as business entities with more than 1,000 employees. The adoption rate of DevOps solutions and services by large enterprises is high and is expected to continue during the forecast period. Large enterprises have dedicated in-house IT resources with large IT budgets; hence they can consider a variety of DevOps strategies. Moreover, they have a global presence, high market shares, technical expertise, and effective business strategies.
North America is estimated to account for the largest market size in 2018, while APAC is projected to be the fastest-growing region. North America is a matured market in terms of technology adoption, due to various factors, such as advanced IT infrastructure, presence of various enterprises, and availability of proficient technical expertise. The US and Canada would contribute to the growth of the DevOps Market in North America.