According to the research report titled ‘GLOBAL BUG TRACKING SOFTWARE MARKET 2019-2027’, available with Market Study Report, global bug tracking software market is expected to witness a y-o-y growth rate of 9.34% between 2019 and 2027.
 

Growing demand for high speed and error-free software solutions along with allocation of substantial budgets for development of advanced software testing systems are key factors driving the growth of global bug tracking software market. Escalating investments in information technology in tandem with inclination towards using automated testing solutions are also aiding the market expansion.
 

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Incorporation of technologically advanced solutions for bug tracking during software development and digitalization of various business processes are also stimulating the industry outlook. However, availability of free online tools and consumer preference towards manual bug tracking over automated solutions may hamper global bug tracking software industry remuneration in the forthcoming years.
 

As per organization size, the market is categorized into large enterprises, medium-sized enterprises, and small enterprises. In terms of deployment model, the industry is bifurcated into cloud deployment model and on-premise. The end-user landscape of global bug tracking software industry comprises of retail, information technology, telecommunication, BFSI and others.
 

From the regional point of view, Asia-Pacific currently holds a considerable share in worldwide bug tracking software market and is expected to showcase similar growth trends in the ensuing years. Rising adoption of internet and proliferating smartphone sales are boosting the business dynamics in the region. Technological breakthroughs in the IT sector, advent of local market players, and concentration of major companies in Australia and India are augmenting the demand for bug tracking software in Asia-Pacific.

Moreover, the IoT sector in Asia-Pacific is witnessing rapid expansion on account of rising penetration of affordable devices and favorable initiatives towards the development of smart transportation as well as smart cities, which in turn is facilitating bug tracking software business scenario in Asia-Pacific.
 

Zoho Corp., ReQtest, Raygun, Nulab Inc., JetBrains s.r.o., Inflectra Corporation, Bugsnag Inc., Axosoft LLC, Atlassian Corporation Plc, and Airbrake Technologies Inc. are the key participants in global bug tracking software industry.