As per the revised report by Future Market Insights (FMI), the global version control systems market is expected to expand at a CAGR of 10.7% over the forecast period (2021-2031). The growth can be attributed to the growing need to reduce complexities in software development, with market valuation expected to surpass US$ 629.3 Mn in 2021.
The COVID-19 pandemic has disrupted many industries, including the version control systems sector. Different industry verticals have suffered notable losses as a result of mobility and travel restrictions for public health reasons, among other social distancing measures.
Disruptions in services are having an impact on economies and trade, given the role of services in offering inputs connecting supply chains and facilitating trade. The extent of impact on trade varies by mode of supply and sector. Trade involving proximity among consumers and suppliers is severely impeded. The COVID-19 crisis is leading to greater adoption of online services in retail, education, health, and telecom sectors.
“Growing adoption of tablets and smartphones is expected to drive the adoption of version control systems for software and operating systems. Digital transformation investments are expected to create opportunities in the foreseeable future for the version control systems market,” says a Future Market Insights (FMI) analyst.
Key Points Covered in Version Control Systems Market Survey
- Market Estimates and Forecast 2016-2031
- Key Drivers and Restraints Impacting Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Version Control Systems and How to Navigate
- Recommendation on Key Winning Strategies
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Key Takeaways from Version Control Systems Market Study
- Large enterprise applications will dominate the market through 2031 with a 53.6% value share, supported by large-scale data transformation requirements in these businesses.
- The IT & telecom industry will reflect higher adoption rates holding 23.2% of the market in 2021, supported by the introduction of 5G technologies.
- China leads the East Asia market, reflecting a CAGR of over 10.3% through 2031, with growing demand for cost effective version control systems for SMEs in the region.
- The U.S. market is projected to expand at a CAGR of 9.8% through 2031, supported by the presence of key players in the market.
- Germany will hold the lead in Europe by the end of 2031, with a CAGR of over 11.2% owing to the rising penetration of the internet and smartphone technologies in the region.
Competitive Landscape
According to the Future Market Insights analysis, IBM, Microsoft, Broadcom, Micro Focus, Apache Software Foundation, Canonical, Git, Perforce Software, Mercurial, and Dynamsoft, are identified as key players in the version control systems landscape.
Companies manufacturing version control systems are aiming for product innovation and strategic partnerships with other software vendors to enhance their portfolios while addressing the demand of an expanding customer pool. Introduction of new products and strategic partnerships are key with the top players in the version control systems landscape.
- For instance, In May 2017, Microsoft Corporation collaborated with Git to make use of its version control system and GVFS for developing Windows. Due to the large size of the content, Microsoft manipulated Git and developed GVFS for exploiting the benefits of Git and reducing the time delays simultaneously.
Version control software providers are also focusing on entering into partnerships with technology and digital solution providers to target new innovations within the market. The strategy helps companies to broaden their geographic reach with additional service portfolios.
- For instance, In October 2018, Microsoft Corporation completed the acquisition of GitHub. GitHub shall operate independently, retain its developer-first ethos, and continue to remain an open platform and eventually accelerating enterprise use of GitHub.
- In June 2021, ABB announced the launch of its Ability System 800xA 6.1.1 distributed control system for greenfield projects and brownfield expansions.
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Market Segmentation by Category
Type
- Local Version Control Systems
- Centralized Version Control Systems
- Distributed Version Control Systems
Deployment
- Cloud
- On-premise
Enterprise size
- SMEs
- Large Enterprises
Industry
- BFSI
- Healthcare
- IT & Telecom
- Retail
- Education
- Others
Key Questions Answered in the Report
- What is the global market size for version control systems?
- At what rate did the demand for version control systems grow in the last five years?
- What are the key market trends shaping the demand for version control systems?
- Which countries are key producers of version control systems?
- What is the global version control systems market growth outlook between 2020 and 2021?
- What is the North America growth outlook for version control systems market?
- Who are the top version control systems providers and what is their market share?
- At what rate will the demand for version control systems rise in the Europe market?
- Which are the top five countries driving version control systems demand?
- What are the key statistics for version control systems in Japan and South Korea?