Summary
The global Issue Tracking Software Market is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019.
An issue tracking software is basically a computer program that maintains and tracks records of specific issues. Issue tracking systems are usually used in collaborative or distributed environments, especially in large or collaborative environments, but can be used by individuals also as part of individual time management or simply personal productivity regimen. The software is available in many forms that allow users to organize their projects and keep track of the status of the work as it progresses
The growing awareness regarding the advantages and benefits of the issue tracking software is fueling the growth of the market. Shifting consumer preferences towards cloud-based bug tracking software is again fostering the growth of the market. This system can be easily installed and are a cost-effective solution for a big organization. This factor is also estimated to bolster the growth of the market. The increasing launch of innovative and advanced software is further anticipated to augment the growth of the issue tracking software market over the forecast timeframe. For instance, in April 2017, Google announced they had just launched a new Issue Tracker project for their Google Cloud Platform products.
Furthermore, an increase in automation in software development is projected to bring new market opportunities over the forecast timeframe.
From the geographical point of view, North America is projected to gain significant growth over the forecast period and this is attributed to the strong presence of software producers coupled with the growing investment on the IT sector. According to CompTIA, Inc., the United States is the largest tech market in the world, representing 33% of the total, or approximately $1.6 trillion for 2021. Tech services and software account for nearly half of spending in the U.S. technology market, significantly higher than the rate in many other global regions. Moreover, rapid adoption of such advanced technologies in the region across the various organization is further projected to uplift the growth of the market
Key Developments:
- In April 2020, Abvent announces a partnership with BIM communication platform BIM Track, as well as parent consulting company BIM One. BIM Track is a web-based issue tracking platform for BIM coordination which is accessible from any web browser.
- In September 2020, Resurgens Technology Partners (“Resurgens”), a software-focused private equity firm, has announced a strategic equity investment in Axosoft, a provider of DevOps productivity and collaboration solutions across the software development ecosystem.
The Issue Tracking Software Market report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Issue Tracking Software Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- Atlassian
- Vision Helpdesk
- ManageEngine
- Zoho
- Bitrix
- Freshworks
- SysAid Technologies
- MantisBT
- Harmony Business Systems
- Wrike
- Pipefy
- Clubhouse
By the Product Type, the market is primarily segmented into:
By Applications, the market is segmented into:
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
The Report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
Objective of the Issue Tracking Software Market Report:
- To assess the size of the market by value and volume
- Analyze the Issue Tracking Software Market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Issue Tracking Software Market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state-of –the-art tools and the current primary and secondary research approaches
- Discuss major factors that impact growth of the Issue Tracking Software Market
The Issue Tracking Software Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Issue Tracking Software Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
Available Customizations:
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
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