Developers sink 'waterfall' in favor of 'sync'

What was clear from the research is that a majority of developers are undertaking projects that use the so-called "sync-and-stabilize" approach, in which members of a development project work on modular blocks and then synchronize their code with other members on a regular basis throughout the life of the project. It also requires that they stabilize, or debug, that work on a continual basis as well.
In a study of 150 software projects conducted jointly by MIT, Harvard Business School, the University of Pittsburgh and Hewlett-Packard Co., 64% of developers worldwide said they worked on projects in modules. A majority also produced "builds" -- or individually coded components -- on a daily basis in the early or middle stages of a project. The rates were 63% in the United States, 57% in Europe and 53% in Japan. The exception was India, where only 27% of developers were in the daily-build habit.

The interesting part is the last line above. In India, many of us are still developing using Waterfall model whereas others have moved to more evolutionary models.