Yahoo Finance Configuration Management Market to Garner USD 3.7 Billion at a CAGR of 13.4% by 2025 - Report by Market Research Future (MRFR)
New York, US, Oct. 28, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Configuration Management Market information by Components, by Enterprise Size, by Vertical and Region – forecast to 2027” market size to reach USD 3.7 billion, growing at a compound annual growth rate of 13.4% by 2025.
Market Scope:
With continually rising demand, the market is projected to demonstrate significant growth over the next few years. Configuration management technologies also help reduce the operational cost, providing a better understanding of the total ownership cost of the existing IT environment. Additionally, configuration management tools are used during software development and deployment processes, helping developers to keep track of software source code, changes, and documentation.
Dominant Key Players on Configuration Management Market Covered are:
Amazon Web Service Inc.
IBM Corporation
Red Hat Inc.
CA Technologies
Microsoft Corporation
HP Development Company LP
Oracle
Puppet Labs
BMC Software Inc.
Chef Software Inc.
Micro Focus
Atlassian
Alibaba Cloud
SaltStack
CloudBees Inc
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Market USP Exclusively Encompassed:
Market Drivers
The global configuration management market is witnessing rapid developments. Configuration management solutions can improve business operations while maintaining software agility to respond to the rapidly changing market and business needs.
Therefore, the market growth predominantly attributes to industry requirements for IT automation and configuration management software to optimize applications and infrastructure supporting digital & customer-facing applications in dynamic environments.
Moreover, digital transformation and automation favor market growth. The demand for automated business processes is growing significantly due to the rising business needs to analyze, measure, optimize, improve productivity, and minimize operational costs. Furthermore, increasing uptake of configuration management solutions escalates the market growth, improving the work efficiency of processes and reducing manual work & downtime.
Lack of Awareness Hinders Market Growth
The lack of awareness about the benefits of configuration management tools is a major factor restraining the market growth, hindering its uptake. Also, the growing inclination of enterprises to save data on-premise rather than on the cloud is set to affect the configuration management market. Nevertheless, the increasing adoption of innovative configuration management platforms for cloud deployment would support the market growth throughout the forecast period.
Browse In-depth Market Research Report (141 Pages) on Configuration Management Market:
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Segmentation of Market Covered in the Research:
The market is segmented into components, end-users, and regions. The component segment is sub-segmented into solutions and services. The sub-segment services are bifurcated into professional and managed services. Professional services comprise training & consulting and support & maintenance services.
The enterprise size segment is sub-segmented into small & medium enterprises (SMEs) and large enterprises. The SMEs segment is estimated to register the highest CAGR during the forecast period.
The end-user segment is sub-segmented into BFSI, retail & consumer goods, transportation, energy & utilities, healthcare, manufacturing, IT & telecommunication, defense & military, and others. Among these, the IT & telecommunication segment accounts for the largest share and is expected to continue leading the market during the forecast period. The region segment is sub-segmented into Europe, North America, Asia Pacific, the Middle East & Africa, and others.
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Regional Analysis
North America is the largest market for configuration management globally. Factors such as continuous advancement in IT infrastructures of enterprises and the presence of technology giants like Microsoft, BMC Software, and Oracle drive the market growth. Besides, the rising demand for innovative solutions among enterprises in this region to improve business operations, productivity, and efficiency boost the market size.
Canada and the US contribute exponentially to the configuration management market in this region. Furthermore, the growing uptake of configuration management in the manufacturing sector across the region increases market share.
COVID-19 Impact on the Global Configuration Management Market
The COVID-19 outbreak has impacted the configuration management industry positively. Due to the lockdown and work from home mandates imposed to limit the virus spread, enterprises faced the acute need to automate various business processes. In response, many organizations implemented configuration management solutions to digitize and automate business processes.
Configuration management includes various tools helpful in configuration verification & audit, creating software pipelines, and writing infrastructure-as-code to capture the state of the infrastructure. Besides, transformations in the IT & telecom sectors, digital changes across industries, and the downward global economy contributed to the market upend.
Resultantly, the configuration management market witnessed a constant uptick amid coronavirus crises. Also, solution providers kept fostering R&D investments to develop new customized solutions and advance the existing ones.
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