SAN FRANCISCO, Oct. 12, 2021 /PRNewswire/ -- The global DevSecOps market size is anticipated to reach USD 17.24 billion by 2028, expanding at a CAGR of 24.1% from 2021 to 2028, according to a new study conducted by Grand View Research, Inc. DevSecOps is the short form for development, security, and operation. DevSecOps solutions help integrate security at each phase of the software development lifecycle from the initial stage of design through integration, testing, and deployment. DevSecOps solutions help enterprises achieve high efficiency and productivity, streamline workflow and improve collaboration between IT and operational teams. Factors such as the growing internet penetration rate, shifting consumer preference toward online platforms, increasing adoption of the Work From Home (WFH) model, and the rising frequency of cybercrime have boosted the demand for DevSecOps solutions globally.
Key Insights & Findings:
In terms of component, the software segment dominated in 2020 with a market share of more than 60% of the overall market
In terms of deployment, the cloud segment is expected to increase over the forecast period owing to benefits such as security, cost-saving, agility, and scalability provided by cloud-based deployments
In terms of organization, the small and medium enterprise segment is anticipated to register the highest CAGR from 2021 to 2028 owing to the growing awareness about DevSecOps and the vast benefits offered by these solutions to small and medium enterprises. Furthermore, the rise in cyber threats and increased vulnerability of business networks are also expected to lead to an increase in business focus on application security
The Asia Pacific regional market is expected to expand at the highest CAGR from 2021 to 2028, owing to rapid advancements in the internet of things, cloud computing, and IT infrastructure. This has led organizations in the region to adopt DevSecOps solutions and services
The increasing need for continuous application delivery with high security is also expected to fuel the demand for DevSecOps solutions over the forecast period. The rising adoption of cloud technologies across enterprises and the increase in the number of cyberattacks are expected to drive market growth. Furthermore, the growing preference for connected devices, such as smartphones, tablets, and laptops, among individuals is expected to drive the growth of the market.
In terms of geography, the North American regional market accounted for the largest share of the global market in 2020. North America constitutes developed economies, including the U.S. and Canada. These countries are widely known for the aggressive adoption of advanced technologies, such as artificial intelligence, machine learning, the internet of things, and cloud computing. A strong and well-developed IT infrastructure deployed in the region could foster the demand for DevSecOps solutions.
Grand View Research has segmented the global DevSecOps market based on component, deployment, organization, industry vertical, and region:
DevSecOps Component Outlook (Revenue, USD Million, 2018 - 2028)
DevSecOps Deployment Outlook (Revenue, USD Million, 2018 - 2028)
DevSecOps Organization Outlook (Revenue, USD Million, 2018 - 2028)
Small and Medium Enterprise
DevSecOps Industry Vertical Outlook (Revenue, USD Million, 2018 - 2028)
IT & Telecommunication
Retail & Consumer Goods
DevSecOps Regional Outlook (Revenue, USD Million, 2018 - 2028)
Middle East & Africa
List of Key Players in the DevSecOps Market
Check out more studies related to development operations, conducted by Grand View Research:
Development to Operations Market – The global Development to Operations market size was valued at USD 2.77 billion in 2016 and is expected to expand at a CAGR of 18.60% over the forecast period. Development and Operations can be defined as a set of tools and practices to drive collaboration, integration, automation, and communication of software development and IT operations in an enterprise.
Application Development Software Market – The global application development software market size was valued at USD 131.4 billion in 2020 and is projected to expand at a compound annual growth rate (CAGR) of 24.3% from 2021 to 2028. The increasing demand for various software applications to speed up and simplify business operations using advanced IoT technology and cloud-based solutions is expected to support the market growth.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.