Chaos Engineering Tools Market worth $2.9 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Oct. 24, 2023 /PRNewswire/ -- As organisations prioritise system reliability and resilience in an ever-evolving digital landscape, the future of the Chaos Engineering Tools Market will be characterised by increased integration with DevOps, automation, security resilience testing, and the expansion of chaos engineering into edge computing and diverse industries.

The Chaos Engineering Tools Market size is expected to grow from USD 1.9 billion in 2023 to USD 2.9 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 8.8% during the forecast period, according to a new report by MarketsandMarkets™. Modern IT systems have become highly complex, often involving microservices, containers, and cloud-based infrastructure. Chaos engineering tools are essential for testing and improving the resilience of these systems, which is expected to create demand during the forecasted period.

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Scope of Report

By component, the services segment is expected to grow at the highest CAGR during the forecast period.

Chaos engineering is a relatively new discipline, and many organizations are still in the early stages of adopting it. As a result, there is a strong demand for professional services in the Chaos Engineering Tools Market. As organizations adopt chaos engineering practices, they often encounter hurdles related to strategy development, tool selection, implementation, and result interpretation. Professional services in this context offer invaluable guidance and expertise to help businesses tailor chaos engineering to their specific needs and goals. These services can assist in designing controlled experiments, identifying potential points of failure, and providing a structured framework for assessing and improving system resilience.

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By deployment mode, the public cloud segment holds a larger market size during the forecast period.

The adoption of chaos engineering tools on public cloud platforms has seen remarkable growth, driven by cloud providers' scalability, flexibility, and cost-efficiency. For instance, Netflix, a pioneer in chaos engineering, utilizes Amazon Web Services (AWS) for its experiments, taking advantage of AWS's extensive global infrastructure to test system resilience. By leveraging the scalability and ease of deployment that public clouds offer, organizations can proactively identify vulnerabilities, improve incident response strategies, and ensure their services remain robust despite unexpected disruptions. This adoption trend aligns with the growing significance of public cloud environments in the chaos engineering environment, facilitating the continued evolution of these crucial practices.

By Region, Asia Pacific is expected to grow at the highest CAGR during the forecast period.

Asia Pacific is home to some of the world's leading ICT companies, such as Alibaba, Tencent, and Baidu. These companies are investing heavily in chaos engineering tools to improve the reliability and resilience of their systems. The Asia Pacific governments are increasingly recognizing the importance of digital transformation. For instance, Singapore's "Smart Nation" and South Korea's "Digital New Deal" emphasize digital transformation, providing fertile ground for chaos engineering adoption. Technological trends, such as microservices, AI, ML, and DevOps, are also driving the adoption of chaos engineering tools in the Asia Pacific region. Chaos engineering tools can be used to test microservices-based applications and ensure they are reliable and resilient. AI and ML can be used to develop more sophisticated chaos engineering tools.

Top Key Companies in Chaos Engineering Tools Market:

Some of the key players operating in the Chaos Engineering Tools Market are – Microsoft (US), AWS (US), OpenText (US), Virtusa (US), Tricentis (US), Harness (US), Nagarro (Germany), PagerDuty (US), Cavission Systems (US), and Gremlin (US).

Recent Developments:

• In February 2023, Tricentis announced the launch of Testim Mobile, an expansion of Testim that brings advanced mobile testing capabilities to the platform. The newly introduced mobile features enhance connectivity and provide a superior testing experience for iOS and Android, covering native and web applications with easy-to-use solutions.
• In March 2022, OpenText announced a partnership with Gremlin to develop new capabilities in LoadRunner Professional. With this release, the company enhanced its support for chaos engineering, offering benefits such as resilience testing, fault detection, introducing chaos, monitoring performance, and supporting multiple scenarios.
• In March 2022, Harness acquired ChaosNative, a creator of LitmusChaos, to offer a scalable platform for chaos engineering in the cloud and on-premises. This integration allows customers to diminish downtime in distributed environments, monitor enhancements in reliability, decrease Mean Time to Resolution (MTTR), and enhance the overall end-user experience.
• In November 2021, Microsoft announced the Azure Chaos Studio public preview to assist customers in monitoring, quantifying, and addressing faults through controlled chaos engineering, enhancing the robustness of their cloud applications.
• In March 2021, AWS announced the general availability of the AWS Fault Injection Simulator to help users run application tests to detect system vulnerabilities.

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Chaos Engineering Tools Market Advantages:

• In order to address issues before they have an impact on end users, organisations might employ chaos engineering tools to proactively discover possible problems and vulnerabilities in their systems.
• Organisations can increase their systems' resilience by purposefully generating controlled chaos, which makes them better able to endure unexpected breakdowns.
• Tools for chaos engineering imitate actual failures and crises to assist organisations better understand how their systems respond to adversity.
• These tools can decrease downtime and service interruptions by locating and addressing system flaws, improving user experiences and ensuring business continuity.
• Through proactive chaotic engineering, outages and interruptions can be avoided, saving a lot of money on system downtime and recovery work.
• Customers are more satisfied with systems that are more dependable since there are fewer service interruptions and problems.
• By demonstrating that their systems have been tested for resilience and failure recovery, organisations can use chaos engineering to demonstrate compliance with regulatory requirements.
• Chaos engineering can enhance system security and lower the risk of security breaches by locating and fixing vulnerabilities.
• Understanding how systems behave under diverse circumstances and workloads helps organisations deploy resources and infrastructure more effectively.

Report Objectives

• To define, describe, and forecast the global Chaos Engineering Tools Market based on component, application, deployment, end user, vertical, and region
• To forecast the market size of the five major regional segments: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
• To strategically analyze the market subsegments with respect to individual growth trends, prospects, and contributions to the total market
• To provide detailed information related to the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
• To strategically analyze the macro and micromarkets¹ with respect to growth trends, prospects, and their contributions to the overall market
• To analyze the industry trends, patents and innovations, and pricing data related to the Chaos Engineering Tools Market.
• To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for major players.
• To profile the key players in the market and comprehensively analyze their market share/ranking and core competencies across segments and subsegments.
• To track and analyze the competitive developments, such as mergers and acquisitions, product developments, and partnerships and collaborations in the market.

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