New Product Launches, and Product Enhancements, to Strengthen their Position in the Version Control Systems Market
The version control systems market is projected to grow from USD 438.8 million in 2018 to USD 716.1 million by 2023, at a CAGR of 10.3% from 2018 to 2023. Some of the major factors driving the version control systems market include increasing need to reduce complexities during software development process and continuously growing adoption of smartphones and tablets.
Companies such as Microsoft (US), IBM (US), Atlassian (Australia), CA Technologies (US), and Micro Focus (UK) offer version control systems for different industries. These players have adopted various growth strategies, such as expansions, agreements, partnerships, acquisitions, New Product Launches, and Product Enhancements, to Strengthen their Position in the Version Control Systems Market. Product launches & product enhancements were the key strategies adopted by the players in the version control systems market between January 2016 and March 2018.
Microsoft provides various version control systems, such as Team Foundation Version Control (TFVC), Visual Studio Team Services (VSTS), Team Foundation Server, Visual SourceSafe, and Visual Studio Code. The company has been among the most innovative companies in the world. It has adopted product enhancement as one of its key growth strategies to offer innovative and upgraded products. In December 2017, the company integrated its Visual Studio with Microsoft Quantum Development Kit. Earlier, in August 2017, it introduced the enhanced APIs, ASP.NET Core 2.0, and .NET Core 2.0 for its Visual Studio 2017 developers. Microsoft is also focused on inorganic strategies, such as partnerships, to become an exclusive version control systems provider. In May 2017, the company partnered with Pluralsight (US) to upskill Visual Studio developers in app development technology.
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IBM offers a comprehensive set of products in the version control systems market. Its featured products include IBM Rational ClearCase, IBM Rational Synergy, IBM Rational Team Concert, IBM Rational Change, and IBM Rational Collaborative Lifecycle Management. The company has strong business strategies that are backed by several factors, such as strong infrastructure, presence in over 175 countries across the globe, and robust partner channels. The company has adopted organic growth strategies, such as product enhancements. For example, in December 2017, it released the latest version of its Rational Team Concert - the v6.0.5, which comes with a revised Quick planner interface and a storage facility for large files in an external store.
Related Reports:
Version Control Systems Market by Type (Centralized Version Control Systems & Distributed Version Control Systems), Deployment Type (Cloud & On-Premises), Organization Size, Vertical (IT & Telecom, BFSI), and Region - Global Forecast to 2023
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