The global bug tracking software market reached a value of around US$ 309 Million in 2021.
Looking forward, the analyst expects the market to reach US$ 537 Million by 2027, exhibiting a CAGR of 9.6% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Bug tracking software, or error tracking software, is a technological tool used for isolating and mitigating errors, defects and faults in a computer program. It captures, reports and manages data on bugs that can or have occurred in an application or a program. The software is commonly used by assessment teams to identify and report errors while the application is being developed and tested. It involves issue tracking and task, workflow and backlog management. It can be deployed on the premises, the cloud or in hybrid environments. The software aids in minimizing the cost and time required for addressing the issues, fixing the bug and prioritizes the defects for optimal functioning of the program.
Bug Tracking Software Market Trends: Significant growth in the information technology (IT) industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, the escalating requirement for automated software testing solutions across industries, such as banking, financial service and insurance (BFSI), telecommunication and retail, is providing a thrust to the market growth. With the rising adoption of development and operation (DevOps) automation systems, there is a substantial increase in the organizational need for bug tracking software to deliver defect-free projects to the clients. Additionally, various technological advancements, such as the development of artificial intelligence (AI), cloud-based, machine learning (ML) and big data integrated bug tracking solutions, are acting as other growth-inducing factors. These advanced solutions enable early detection and mitigation of bugs and analyzing trends in the bug patterns. Other factors, including extensive research and development (R&D) activities, along with rapid digitization of various business processes, are anticipated to drive the market toward growth.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global bug tracking software market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, deployment, organization size and industry vertical.
Breakup by Type: Task Management Systems Bug Capturing Tools
Breakup by Deployment: On-premises Cloud-based
Breakup by Organization Size: Small Enterprises Medium-sized Enterprises Large Enterprises
Breakup by Industry Vertical: BFSI Telecommunications Manufacturing Information Technology Retail Others
Breakup by Region: North America United States Canada Asia-Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The competitive landscape of the industry has also been examined along with the profiles 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 and Zoho Corporation Pvt. Ltd.
Key Questions Answered in This Report: How has the global bug tracking software market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global bug tracking software market? What are the key regional markets? What is the breakup of the market based on the type? What is the breakup of the market based on the deployment? What is the breakup of the market based on the organization size? What is the breakup of the market based on the industry vertical? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global bug tracking software market and who are the key players? What is the degree of competition in the industry?
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