A rise in the adoption of DevOps & testing automation and the surge in the need to deliver bug-free projects successfully are the major drivers for the growth of the global bug tracking software market. Furthermore, a rise in investment in software testing and an increase in the adoption of cloud-based project management software fuel the market growth.
However, the availability of free bug tracking software impedes market growth. On the other hand, an upsurge in the adoption of artificial intelligence and integration of machine learning solutions in bug tracking software will provide major opportunities for market growth in upcoming years.
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The global bug tracking software market is divided on the basis of mode of deployment, organization size, industry vertical, and region. Based on deployment, the market is segmented into cloud and on-premises. The cloud segment held the largest share in 2018, contributing to nearly three-fifths of the market. Furthermore, this segment is expected to register the fastest CAGR of 14.5% during the forecast period.
According to the report published by Allied Market Research, the global bug tracking software market was pegged at $218.22 million in 2018 and is projected to reach $601.64 million by 2026, registering a CAGR of 13.6% from 2019 to 2026.
On the basis of organization size, the market is bifurcated into small enterprises, medium-sized enterprises, and large enterprises. The large enterprise segment held the lion's share in 2018, accounting for more than half of the market share. However, the small enterprises segment is projected to manifest the fastest CAGR of 16.5% during the forecast period.
The global bug tracking software market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The North America region dominated the market, contributing to nearly two-fifths of the market in 2018. However, the Asia-Pacific region is estimated to register the fastest CAGR of 16.2% during the study period.
The global bug tracking software market report includes an in-depth analysis of the major market players such as Nulab (backlog), Axosoft, Bugsnag Inc., Airbrake, Zoho Corporation, Atlassian (JIRA), JetBrains, Raygun, IBM, and Inflectra Corporation. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.
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