Rising need for accelerated product development, growth of IoT sector & surge in need to improve teamwork & communication in enterprise drive the market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, June 23, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Enterprise Agile Transformation Services Market Size Reach USD 63.82 Billion by 2026 | Top Players – Endava, Xebia & IBM.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global enterprise agile transformation services market size was valued at USD 15,443.51 million in 2018, and projected to reach USD 63,828.07 million by 2026, growing at a CAGR of 19.50% from 2019 to 2026.
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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 global enterprise agile transformation services market is segmented based on methodology, service type, organization size, industry vertical, and region. Depending on methodology, the market is divided into scrum scrum/XP hybrid, scrumban kanban, custom hybrid, and others. By service type, it is categorized into development services, consulting services, and others. Based on organization size, it is bifurcated into large enterprises and SMEs. As per industry vertical, it is classified into, BFSI, IT & telecom, retail, media & entertainment, government & public sector, manufacturing, healthcare, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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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.
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.
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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.
The key players profiled in the enterprise agile transformation services market industry are Accenture Plc., Agile Sparks, Broadcom Inc., Endava Plc, Hexaware Technologies Limited, International Business Machines Corporation, LeadingAgile, Symphony Solutions, Xebia Group, and Cognizant Technology Solutions Corporation.
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Impact of COVID-19 on Enterprise Agile Transformation Services Market-
● The demand for enterprise agile transformation services is expected to surge from small and medium enterprises during and post Covid-19 pandemic for the development of new business models as well as innovative production lines to sustain the market competition.
● According to Digital.in, a leading U.S. based technology company, about 43% of organizations have increased their dependence on agile application development methodologies during the COVID-19 pandemic. The main reason behind the adoption of agile transformation services by these organizations is to reduce the project cost.
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