Study suggests that this trend will continue into the foreseeable future
A recent report by The Business Research Company, entitled “DevOps Global Market Report 2022”, states that the global DevOps market is expected to grow from $7.20 billion in 2021 to $8.95 billion in 2022. That’s a compound annual growth rate (CAGR) of 24.24%.
By 2026, it is expected to reach $20.53 billion in 2026, at a CAGR of 23.08%.
What is DevOps?
DevOps is made up of the sale of DevOps solutions and services by entities (organizations, sole proprietors, partnerships) that refers to the tools used for the integration of software developers (dev) and operations (ops).
Often, these tools operate on a software engineering platform that combine the activities of software development and software operations teams by encouraging cooperation and shared accountability.
DevOps also enables software developers and operations teams to strive for faster delivery through automation, collaboration, rapid feedback, and iterative improvement. DevOps includes solutions and services that bridge the gap between software development, quality assurance, and IT operations, with the goal being to rapidly build software products and services while boosting operational performance.
Which areas are seeing the fastest growth?
In the report, North America is recognized as the largest region in the DevOps market in 2021; however, Asia Pacific is expected to be the fastest-growing region in the forecast period. Additional regions covered include Western Europe, Eastern Europe, South America, Middle East, and Africa.
What is driving this growth?
The report points out that the increased need for bridging the gap between IT and operations teams is propelling the growth of the DevOps market. Additionally, the growth in teams including multiple offices, shift in business operations towards virtual offices, and off-site contractors have increased the gap between IT and operational teams, affecting the business operations and productivity.
Technological advancements are also driving the increased popularity in the DevOps market. Companies in the DevOps market are beginning to incorporate innovative technologies like machine learning (ML) and Artificial intelligence (AI) to offer future-proof products that are also cost-effective and operationally beneficial.