Version Control System Market Share & Growth | Forecast 2030

Report Description

The global version control system market size is projected to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing demand for automation and digitalization in the software development process along with the rising adoption of tablets and smartphones all around the world.

Version control systems (VCS) are a type of software widely used by software development teams to track software changes without the need for manual intervention. The primary objective of this system is to provide backups that allow developers to operate more effectively and efficiently over time. Furthermore, the entire technology is designed to make software development procedures less complicated. Additionally, every modification to the code in a specific database is tracked by version control software. If an issue occurs, engineers can go back in time and match more recent versions of the code to fix the problem while minimizing disruption to the entire team.  

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Moreover, these systems can be connected with software applications, such as Integrated Development Environments (IDEs), Platform as a Service (PaaS), and build automation software providers. Furthermore, it allows the developers to access software from the same tool. In addition, Git, Github, and Subversion are open-source and cross-platform version control systems that support all platforms, languages, diverse sets of technology, and frameworks.

According to the report published by Flexera Software, over 79% of firms plan to use public cloud for their businesses by 2020, resulted in increasing the adoption of SaaS applications in businesses. Thus, the use of version control system technology is expected to help the software engineers to create enterprise software solutions.

The COVID-19 has had a favorable impact on the global version control system market. In the midst of the pandemic, it is critical to choose the right cloud computing strategy for any company's long-term viability and profitability. Furthermore, the number of cloud service models available is growing to accomplish the needs of various business models. On the other hand, businesses are also shifting towards more customized virtual machine services that are better suited to the business requirements across industry.

Market Trends, Drivers, Restraints, and Opportunities

• Rising need for comprehensible solutions along with the demand for automated tracking tools is expected to fuel the market growth during the forecast period.
• Increasing demand for software with less complexities and the growing research and development activities are some of the key factors propelling the market expansion in the coming years.
• Growing need for managing several versions of codes & files and increasing need for collectively working on projects to accelerate product delivery are projected to boost the market growth.
• Lack of skilled personnel to handle sophisticated tools in less developed countries is one of the restraining factors challenging the market expansion.
• Accessibility of open-source version control systems, and the value of alternative applications by IT organizations are anticipated to hamper the market growth.
• Growing demand for cloud-based data management solutions is anticipated to offer immense opportunity for market during the forecast period.

Scope of the Report

The report on the global version control system market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Centralized version control systems segment is expected to grow at a rapid pace

Based on types, the global version control system market is divided into distributed version control systems and centralized version control systems. The centralized version control systems (CVCS) segment is expected to grow at a rapid pace in the coming years, owing to the cost- effectiveness and the ability to minimize the complexities in software development.

Furthermore, these systems provide individual programmers with better performance and help in developing new code branches faster and easier. Users can work without being connected to the network using DVCS. Additionally, it helps the developers to create user-friendly software by utilizing several development models such as the commander model and development branches.

Moreover, DVCS is being used by a growing number of individual developers who have just a limited need for audit history. Individual developers are increasingly turning to open source DVCS, which allows them to alter and develop the source code according to their needs for no cost. Furthermore, DVCS is scalable, allowing users to manage a high number of contributors in the repository while storing data using lossless compression. Thus, all these factors are fueling the segment growth.

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On-premise segment is estimated to gain a large revenue share

Based on deployments, the market is divided into cloud and on- premise. The on- premise deployment segment is estimated to gain a large revenue share during the forecast period, owing to the rising incidence of data breaches and data cloning in the businesses. Furthermore, increasing adoption of on- premise version control systems helps the developers to prevent duplication of software.

Moreover, on- premise systems have become popular as these systems are capable of easy modification of software to meet the client's prerequisites. Furthermore, on- premise implementation helps in lowering the total cost of ownership due to the inexpensive monthly or annual subscription rates.

However, the cloud deployment segment is anticipated to register a substantial market share in the coming years due to the enhanced methods and the preferred usage of cloud platforms in the software development process. Furthermore, companies that build software are increasingly focusing on installing cloud-based version control solutions since they allow them to lower overall operational costs.

Moreover, cloud deployment includes extra services that are integrated with the source control system and assist developers in streamlining their development process. For example, cloud providers deliver issue tracking tools integrated with the source control system, allowing developers to track and detect issues that arise during the development process.

Large enterprise segment is projected to expand at a considerable CAGR

On the basis of enterprise sizes, the global version control system market is bifurcated into small & medium enterprise and large enterprise. The large enterprise segment is projected to expand at a considerable CAGR during the forecast period, owing to the increasing need for a smooth development process and better quality solutions in the organizations.

Furthermore, large enterprises have adequate resources and assets to amalgamate modern technology and stay ahead of the competition. Additionally, these large firms are significantly investing in R&D activities to create the optimal solution for boosting their business productivity.

Moreover, large enterprises with geographically dispersed staff can easily replicate data using a version control system. Furthermore, it allows engineers to collaborate on a common project and helps to integrate code reviews with the source code management process. In addition, a version control system supports engineers to create software with fewer problems. On the other hand, organizations can use this system to assure software quality, foster teamwork, and protect intellectual property assets.

IT & telecommunications segment is expected to register a substantial market share

Based on end-users, the market is segregated as retail & consumer packaged goods, banking financial services and insurance, IT & telecommunications, healthcare & life sciences, education, and others. The IT & telecommunications segment is expected to register a substantial market share during the forecast period, owing to the numerous launch of updated software versions, growing demand for detecting and resolving software bugs, and increasing development in mobile applications. Furthermore, the systems assist IT and telecom companies to secure their work on the most recent release and source code of freshly released software. Thus, all these factors are fueling the segment growth.

However, the healthcare & life sciences segment is estimated to gain a considerable revenue share in the coming years due to the rising need for Artificial Intelligence (AI) and machine learning technology in the development of several applications and software across industry. Furthermore, the growing acceptance of solutions such as m-Health, wearable technology, and smartphone apps is propelling the demand for the most recent software versions. Additionally, as this software helps in storing vital drug and patient information, it requires persistent security patches and regular updates.

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North America is anticipated to constitute a key market share

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share during the forecast period, owing to the growing demand for customized software solutions and the presence of well- established software companies in the region.

Furthermore, the growing acceptance of cloud strategy has increased the use of version control system across geographies. Various end-use industries, such as retail, BFSI, IT & telecom, and healthcare, rely on software and mobile applications to handle client requests, and these software and applications must be updated on a regular basis. Thus, all these factors are estimated to propel the market growth in the region.

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