MarketsandMarkets expects the DevOps market 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 market growth is expected to be driven by faster application delivery, applications running in the dynamic Information Technology (IT) environment, and increasing focus on reducing Capital Expenditure (CAPEX) and Operational Expenditure (OPEX).
The services segment is expected to witness a high growth rate over the next 5 years. DevOps services help consult, integrate, and support organizations across various industries in effectively dealing with threats, thereby ensuring visibility and security across all business functions. On the basis of services, the DevOps market has been segmented into container services, Application Programming Interface (API) services, managed services, and professional services. The demand for DevOps services among enterprises is gaining huge traction, due to the increasing penetration of big data, Internet of Things (IoT), edge computing, cloud, and related technologies.
The hybrid cloud segment is expected to grow at a higher rate over the next 5 years. The hybrid cloud segment offers various benefits, such as enhanced security and scalability, improved application quality, and reduced costs. In addition, it offers more control, reduced risk, cost-efficiency, and better performance. Moreover, it covers a broad range of usage-friendly, versatility, and cost-effective features of the public cloud, and greater control and security feature of the private cloud. Furthermore, the hybrid cloud segment enables the enterprises in transferring their mission-critical data to the private cloud without compromising on security, and non-sensitive data to the public cloud.
The SMEs segment is expected to grow at a higher rate than the large enterprises segment in the next 5 years. Flexibility, failure prevention, automatic updates, lower CAPEX, collaboration, document control, and security are major reasons for encouraging SMEs to adopt DevOps at a rapid pace.
The retail industry vertical is expected to grow at the highest rate over the next 5 years, due to the rising consumer purchasing power. This industry vertical generates large volumes of data as it deals with shipping orders and deliverables. Hence, the need to manage such voluminous data has led to the increased adoption of DevOps solutions in the retail industry vertical. Retailers can maintain strong relationships with their customers by gaining real-time business insights. Asia Pacific (APAC) is projected to be the fastest-growing region in adopting DevOps solutions and services, due to the rapid advancements in telecom, cloud computing, and IoT. The vast and diverse locations, and increasing customer expectations and competition are expected to create intense operational complexities for enterprises in the region. These complexities have led enterprises to invest in standardized DevOps solutions that can adapt to the changing competitive landscape with minimum customizations.