Bug Tracking Software Market
IMARC Group expects the market to reach US$537 million by 2027, growing at a CAGR of 9.6% during the period 2022-2027.
SHERIDAN, WYOMING, USA, September 8, 2022 / EINPresswire.com/ — According to IMARC Group’s latest report titled “Bug Tracking Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive industry analysis, which includes information on the bug tracking software market share. The report also includes competitor and regional analysis, as well as contemporary advancements in the global market. The global bug tracking software market reached a value of around US$309 million in 2021. Looking ahead, IMARC Group expects the market to reach US$537 million by 2027 , posting a CAGR of 9.6% in 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 faults, errors, and defects in a computer program and records all facts about bugs. It helps evaluation teams identify and report errors during application development and testing. It is mostly deployed in cloud, hybrid or on-premises environments 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 engulfs the world, we are continuously monitoring changes in markets, as well as consumer buying behaviors around the world and our estimates on the latest market trends and forecasts are made after taking into account the impact of this pandemic.
The significant growth of the information technology (IT) sector is the main driver of the global market. This is attributed to the development of cloud, big data, artificial intelligence (AI) and machine learning (ML). Along with this, continuous technological advancement and integration of bug tracking software with cloud computing due to rapid digitization of various business processes is creating a positive market outlook. In addition to this, the growing need for automated software testing solutions in the enterprise sector, such as telecommunications, retail and banking, financial services and insurance (BFSI), is significantly supporting the market. Rapid urbanization and research and development (R&D) activities by key players to introduce improved and effective solutions are other factors driving the market.
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Competitive landscape with key players:
The report has also analyzed the competitive landscape of the market with some of the key players.
• Airbrake Technologies Inc. (LogicMonitor Inc.)
• Atlassian Corporation Plc
• Axosoft LLC
• Bugsnag Inc.
• Inflectra Corporation
• International Commercial Machinery Society
• JetBrains sro
• 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.
Breakdown by type:
• Task management systems
• Bug catching tools
Breakdown by deployment:
• On the site
Breakdown by organization size:
• Small enterprises
• Medium-sized companies
• Large companies
Breakdown by vertical industry:
• Computer science
Breakdown 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, others)
Main 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
• Complete mapping of the competitive landscape
We update our reports, if you want the latest primary and secondary data (2022-2027) with cost module, business strategy, competitive landscape, etc. Click request a free sample report, the report will be delivered to you in PDF format via email within 24-48 hours after payment confirmation.
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