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Defect Management Tools Market Segmentation by Component (Solution, and Service); by Deployment (On-Premise, and Cloud); by Organization Size {Large Enterprises, and Small and Medium Sized Enterprises (SMEs)}; and by Industry Vertical – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Defect Management Tools Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • September 2021- Inflectra launched Spira v6.12, which is rest management system that lets users see different sets of industry-specific sample data and decide which sample data they want in the system.

  • August 2021- YouTrack, JetBrains’s premium bug tracking software, is now available in three new languages- Korean, Chinese and Portuguese.   

Global Defect Management Tools Market Highlights 2022 – 2030

The global defect management tools market is estimated to garner a large revenue by growing at a robust CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed largely to the shortage of automation tools to defect or bug tracking. Along with these, as the IT infrastructure in organizations is becoming more software-oriented, software required for managing all the IT operations are becoming more complex. This often results in more technical defects in enterprise software during the technical phase, which in turn is expected to augment the sales for these tools in the forthcoming years. Furthermore, growing investments of companies on testing processes, escalating demand for the delivery of bug-free software with short turnaround time, and upsurge in adoption of AI and machine learning are expected to provide lucrative opportunities for market growth in the near future. As of now, more than 75 percent of devices used by people all around the world use one form of AI or another. The number of AI based startups grew by almost 15 times over the last two decades.

Defect Management Tools Market

The market is segmented by industry vertical into BFSI, telecommunications, manufacturing, information technology, retail, energy and utility, automotive, and others, out of which, the information technology segment is anticipated to hold the largest share in the global defect management tools market. This can be accounted to the rising trend of bring your own device and mobility amongst IT-based organizations, and rising significance of defect or bug testing among enterprises. Additionally, on the basis of deployment, the cloud segment is predicted to acquire the largest share over the forecast period owing to the increasing adoption of cloud technology as a result of its hassle-free software updates and maintenance, and high cost-effectiveness. Apart from these, cloud-based defect management tools provide users with various plans suiting their specific needs, which is also assessed to boost the growth of the market segment in the future. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Research Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Defect Management Tools Market Regional Synopsis

On the basis of geographical analysis, the global defect management tools market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the increasing geographic presence of IT companies in Asia, surge in the usage of AI and ML techniques, and government initiatives for technological development in the region. For instance, in 2030, AI is predicted to contribute to more than 25 percent of China’s gross domestic product, followed by North America with 14 percent and United Arab Emirates with 13 percent. Moreover, the market in North America is projected to occupy the largest share over the forecast period, which can be credited to the early adoption of digitalization in software development and rising implementation of automation in testing environment in the region. In addition, growing deployment of cloud-based enterprise resource management software in several organizations is also expected to fuel the region’s market growth over the coming years. 

Defect Management Tools Market

The global defect management tools market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global defect management tools market includes the following segments:

By Component

  • Solution
  • Service

By Deployment

  • On-Premise
  • Cloud

By Organization Size

  • Large Enterprises
  • Small and Medium Sized Enterprises (SMEs)

By Industry Vertical

  • BFSI
  • Telecommunications
  • Manufacturing
  • Information Technology
  • Retail
  • Energy and Utility
  • Automotive
  • Others

Growth Drivers

  • Shortage of Automation Tools to Defect or Bug Tracking
  • Growing Investments of Companies on Testing Processes

Challenges

  • Higher Cost to Train and Recruit Defect Management Tools Experts

Top Featured Companies Dominating the Market

  • IBM Corporation
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Inflectra Corporation
  • Zoho Corporation
  • Microsoft Corporation
  • Perforce Software, Inc
  • Airbrake Technologies, Inc.
  • Atlassian Corporation Plc
  • Bugsnag Inc.
  • JetBrains s.r.o.
  • Nulab Inc.

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