New York City, NY, 07 October, 2019/ 24 Market Reports: A software application that detects the error in the software program is known as bug tracking software. Generally, a bug tracking software offers the user with a technique to report on issue or bug and track advancement of its resolutions and identifies who is responsible for solving the problem. The use of the application takes place in various organizations such as IT help desks, software developing firms, manufacturing firms, and other service providers.
Owing to its various benefits and its use in various industries the global market for bug tracking software is likely to witness steady growth in the forecast period. The bug tracking software is open source that can be installed and upgraded without any hassle and this is another factor that is driving the growth of the market. For seamless and agile applications a noticeable trend in the market has been the shift towards cloud-based bug tracking software.
At present, the market does not contain variety in the products available. By funnelling money into the development of differentiated and effective products the players are already tapping into the opportunity. This is likely to intensify the competition in the market during the forecast period.
Since it can be seamlessly accessed using a web browser, the cloud-based deployment model accounts for a substantial chunk of bug tracking software market. It does not require investments in hardware and results in less human effort and these factors are contributing to the growth of the market.
North America, Europe, Asia Pacific, and the Rest of the World are the key segments accounting for the global bug tracking software market. North America is dominating the market and is likely to continue the domination in the forecast period. The rise in the investments in software testing activities in the U.S and Canada are the factors accounting for the growth of the market in the region. The growth in the software testing companies in the region is also driving the market.
IBM, Airbrake, Atlassian, Axosoft, Bugsnag are among the prominent players in the market. On account of the presence of both large-sized and smaller players in the market immense competition is expected to happen in the market during the forecast period.