Bug Tracking Software Market to Witness an Outstanding Growth During 2022-2027
According to IMARC Group latest report titled “Bug Tracking Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on bug tracking software market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global bug tracking software market reached a value of around US$ 309 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 537 Million by 2027, exhibiting a CAGR of 9.6% during 2022-2027.
Bug tracking software refers to a software solution that is deployed to track and report programming bugs in software development projects. It works by isolating and mitigating defects, errors, and faults in a computer program and records all facts about bugs. It aids assessment teams in identifying and reporting errors while the application is being developed and tested. It is mainly deployed on the cloud, in hybrid environments or on the premises that facilitate defect tracking, issue tracking, ticket management, backlog management, task management, and workflow management.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Significant growth in the information technology (IT) sector majorly drives the global market. This is attributed to the development of cloud-based, big data, artificial intelligence (AI), and machine learning (ML). Along with this, continual technological advancements and the integration of bug tracking software with cloud computing on account of the rapid digitization of various business processes are creating a positive market outlook. In addition to this, the growing requirement for automated software testing solutions across the corporate sector, such as telecommunication, retail, and banking, financial service and insurance (BFSI), is significantly supporting the market. Other factors driving the market include rapid urbanization and extensive research and development (R&D) activities conducted by key players to introduce improved and efficient solutions.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Airbrake Technologies Inc. (LogicMonitor Inc.)
- Atlassian Corporation Plc
- Axosoft LLC
- Bugsnag Inc.
- Inflectra Corporation
- International Business Machines Corporation
- JetBrains s.r.o.
- Nulab Inc.
- Raygun Limited
- Zoho Corporation Pvt. Ltd
Bug Tracking Software Market Segmentation:
Our report has categorized the market based on region, type, deployment, organization size and industry vertical.
Breakup by Type:
- Task Management Systems
- Bug Capturing Tools
Breakup by Deployment:
Breakup by Organization Size:
- Small Enterprises
- Medium-sized Enterprises
- Large Enterprises
Breakup by Industry Vertical:
- Information Technology
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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