Enterprise Agile Transformation Services Market to $63.83 Bn, Globally, by 2026 at 19.5% CAGR, Says Allied Market Research
Rise in need for accelerated product development, surge in need to improve teamwork and communication in enterprises, and growth of the IoT sector drive the growth of the global enterprise agile transformation services market
PORTLAND, Oregon, Feb. 3, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Enterprise Agile Transformation Services Market by Methodology (Scrum, Scrum/XP, Scrumban, Kanban, Custom Hybrid, and Others), Service Type ( Development Services, Consulting Services, and Others), Organization Size (Large Enterprises and Small & Medium Enterprises), Industry Vertical (BFSI, IT & Telecom, Retail, Media & Entertainment, Government & Public Sector, Manufacturing, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global enterprise agile transformation services market was pegged at $15.44 billion in 2018 and is projected to garner $63.83 billion by 2026, growing at a CAGR of 19.5% from 2019 to 2026.
Incentives for market growth
Rise in need for accelerated product development, surge in need to improve teamwork and communication in enterprises, and growth of the IoT sector have boosted the growth of the global enterprise agile transformation services market. Moreover, shift in business needs supplemented the market growth. However, the frequent failure rates hamper the market growth. On the contrary, increase in adoption of agile services among non-IT industries and emerging applications of agile in growing big data complex landscape are expected to create lucrative opportunities in the near future.
The scrum segment held the largest share in 2018, contributing to more than half of the global enterprise agile transformation services market, owing to rise in adoption of scrum by various software development companies to increase coordination between teams and improve performance. However, the Kanban segment is expected to register the fastest CAGR of 22.7% during the forecast period, owing to surge in adoption of Kanban for managing manufacturing of products that focus on rapid delivery along with reducing the burden on the development team.
Retail segment to manifest the fastest CAGR through 2026
The retail segment is expected to register the fastest CAGR of 23.2% during the study period, owing to rise in digitalization and need for smooth operation efficiency. However, the IT & telecom segment accounted for the largest share in 2018, contributing to more than one-fourth of the global enterprise agile transformation services market. This is due to various constraints of the waterfall model of product development including long delivery cycles and high cost.
North America held the largest share
The global enterprise agile transformation services market across North America held the lion's share in 2018, contributing around two-fifths of the market, owing to adopt agile transformation services at a high rate to bring improvements in operational efficiency in IT infrastructure. However, the market across the Asia-Pacific region is anticipated to manifest the fastest CAGR of 22.1% through 2026, owing to a surge in digitalization in emerging economies such as India and China.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.