(MENAFN- PR Newswire) DUBLIN, Aug. 17, 2023 /PRNewswire/ -- The
"global software testing services market 2023-2027" report has been added to
ResearchAndMarkets.com's offering.
The software testing market is anticipated to experience substantial growth, projecting a $15.94 billion increase during the forecast period of 2022-2027. This growth will be driven by a robust Compound Annual Growth Rate (CAGR) of 9.22%.
The comprehensive report on the software testing market offers a holistic analysis, covering market size, trends, growth drivers, challenges, and a vendor analysis of approximately 25 key players.
The report provides an up-to-date analysis of the current market scenario, highlighting the latest trends, drivers, and overall market environment. The adoption of mobile testing, the availability of cloud-based software testing services, and the increasing demand for test automation services are identified as major factors propelling the market forward.
Market Segmentation
The software testing market is segmented as follows:
By Service
Functional Testing Digital Testing Specialized Offerings
By End-user
BFSI (Banking, Financial Services, and Insurance) Telecom and Media Manufacturing Retail Other Industries
By Geographical Landscape
North America Europe APAC (Asia-Pacific) South America Middle East and Africa
Driving Factors and Future Trends
The study identifies the growing momentum of crowdsourced testing as a prime factor driving market growth in the coming years. Additionally, the integration of AI and ML in the software testing process, along with the increased adoption of agile testing, is expected to contribute significantly to market demand.
Vendor Analysis and Strategic Insights
The report presents a comprehensive vendor analysis to help businesses enhance their market positioning. Notable software testing market vendors covered in the report include Atos SE, BRISA, Capgemini Service SAS, Cognizant Technology Solutions Corp., DeviQA Solutions, Expleo Group SAS, Hexaware Technologies Ltd., Infosys Ltd., International Business Machines Corp., Kualitatem Inc., Oxagile, QA Mentor Inc., QA TestLab Solutions Ltd., QASource, QualiTest Group, QualityLogic Inc., Tata Consultancy Services Ltd., Testfort, Wipro Ltd., Quality Area Ltd., and LogiGear Corp. The report also addresses emerging trends and challenges to assist companies in developing effective strategies and leveraging growth opportunities.
Research Methodology
The study employs a balanced approach, utilizing both primary and secondary data sources from key industry participants. The report includes a comprehensive market and vendor landscape, along with a detailed SWOT analysis of key vendors. The analysis encompasses critical parameters such as profit analysis, pricing strategies, competition assessment, and promotional initiatives. The report is a result of extensive research, incorporating reliable and comprehensive data from primary and secondary sources.
Conclusion
The global software testing market is poised for substantial growth, anticipating a $15.94 billion increase between 2022 and 2027, with a noteworthy CAGR of 9.22%. The market's expansion is fueled by factors such as the rising adoption of mobile testing, the availability of cloud-based software testing services, and the increasing preference for test automation services. The report's comprehensive vendor analysis and strategic insights aim to empower companies to harness future growth opportunities.
A selection of companies mentioned in this report includes
Atos SE BRISA Capgemini Service SAS Cognizant Technology Solutions Corp. DeviQA Solutions Expleo Group SAS Hexaware Technologies Ltd. Infosys Ltd. International Business Machines Corp. Kualitatem Inc. Oxagile QA Mentor Inc. QA TestLab Solutions Ltd. QASource QualiTest Group QualityLogic Inc. Tata Consultancy Services Ltd. Testfort Wipro Ltd. Quality Area Ltd. LogiGear Corp.
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