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Based on component, the solution segment held over 70% of the market share in 2022, owing to an increasing demand for diverse and specialized tools. Solutions catering to specific areas such as automation, observability, and security within chaos engineering are expected to expand. As businesses emphasize resilience and reliability, there is a heightened need for comprehensive tools that address various facets of system robustness. This growth anticipates a broader array of tailored solutions to meet the evolving market and technological demands.
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Based on industry vertical, the IT & telecom segment accounted for 24% of the chaos engineering tools market share in 2022, due to the industry's increasing reliance on robust digital infrastructures. With the surge in cloud-based services and telecommunication technologies, there is a heightened need for tools to ensure system resilience. Chaos engineering tools that specifically cater to the complexities of IT and telecom networks are poised to expand, aiding in stress-testing and fortifying these critical systems for enhanced reliability & performance.
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North America chaos engineering tools market recorded around 35% of revenue share in 2022, attributed to its technological advancements & growing corporate landscape. The emphasis on digital infrastructure resilience and the widespread adoption of cloud-based solutions in industries across the region drive the demand for effective chaos engineering tools.
For instance, in March 2022, Harness Inc. acquired ChaosNative Inc., the creator of LitmusChaos (a widely adopted project in the Cloud Native Computing Foundation). Litmus is ChaosNative's robust enterprise platform for chaos engineering, used by prominent organizations. The platform, available in both cloud & on-premises versions, provides highly scalable and secure chaos engineering solutions to enhance system reliability.