Software Testing Market 2021

Industry Size, Regions, Emerging Trends, Growth Insights, Opportunities, and Forecast By 2027

Software Testing Market Component (Application testing and Services), by Application (IT & Telecom, Retail, Healthcare, Transportation & logistics, BFSI, Manufacturing, Government & public sector, and Others), by Region – Global Share and Forecast to 2027

Region: Global | Format: Word, PPT, Excel | Report Status: Published

Description

The global software testing market size is estimated to grow from USD 42.5 billion in 2020 to USD 69.3 billion by 2027, at a CAGR of 8.5% from 2021 to 2027. The growing adoption of web-based applications for remote working in the software industry is augmenting the demand for AI-based solutions. Various companies integrate these technologies into their software testing tools to ensure software efficiency, fueling the market growth. Major industry players are investing in integrating AI technology to provide high-quality software solutions to clients and improve their market position.

Growing technological developments in artificial intelligence, machine learning, and CI/CD for the IT sector will likely boost industry growth. AI improves the overall test performance by high accuracy, flexibility in the software testing process, and providing enhanced visual validation.

The growing need for blockchain testing services is fueled by the growing trend for privacy protection and digital security in the cryptocurrency, government, and banking sectors. Enterprises may utilize blockchain testing to verify, validate, encrypt, and decrypt financial transactions at rapid speeds and manage and safeguard user identification.

COVID-19 Impact on the Global Software Testing Market

The COVID-19 pandemic has accelerated software testing solutions in a wide range of industries, including IT, telecom, BFSI, retail, and manufacturing, among others, to achieve shorter delivery times and a better customer experience. Increased acceptance of cloud computing solutions, both cloud software testing and SaaS services, has resulted from lockdowns. The pandemic has had a favorable impact on the market trend toward working from home, resulting in a significant increase in the need for AI-based automated software testing for various remote software applications and IT infrastructure maintenance.

Global Software Testing Market Dynamics

Drivers: Growing digitalization in developing economies

Increasing consumer interest in digital services such as online banking, education, telemedicine, and online shopping will support the demand for software testing. These digital services are highly dynamic as they constantly update their products & services, necessitating continual testing and development of the mobile apps. Several companies are developing new test frameworks and tools to reduce the time taken to test mobile apps. The increased need for efficient and cost-effective procedures to detect software flaws in IT firms is expected to drive market revenue.

Scope of the Report

The study categorizes the software testing market based on component, waste type, method, and application at the regional and global levels.

By Component Outlook (Thousand Units, Revenue, 2017-2027, USD Million)

  • Application testing
    • Functional testing
      • System testing
      • Unit testing
      • Integration testing
      • Smoke testing
      • Regression testing
      • Others
    • Non-functional testing
      • Security testing
      • Performance testing
      • Usability testing
      • Others
  • Services
    • Professional
    • Managed

By Application Outlook (Thousand Units, Revenue, 2017-2027, USD Million)

  • IT & Telecom
  • BFSI
  • Manufacturing
  • Retail
  • Healthcare
  • Transportation & logistics
  • Government & public sector
  • Others

By Region Outlook (Thousand Units, Revenue, 2017-2027, USD Million)

  • North America (US, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
  • The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

Asia Pacific accounts for the highest CAGR during the forecast period

Based on the regions, the global software testing market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Worldwide, Asia Pacific is estimated to hold the highest CAGR in the global software testing market during the forecast period. The region includes the countries such as India, Japan, China, Australia, South Korea, Southeast Asia, and the Rest of Asia-Pacific. The region's growth is primarily due to strong economic growth in the domestic emerging countries such as China, Malaysia, Indonesia, and India.

Growing government initiatives and investments to promote digitalization in China, India, and Japan. In March 2021, The South Korean government has announced plans to invest in the country's burgeoning internet retail industry. The coronavirus outbreak is to blame for this expenditure, as shopping habits have evolved toward digital shopping.

Key Market Players

The software testing market is mildly concentrated in nature with few numbers global players operating in the market such as Tech Mahindra Limited, Siemens AG, Wipro Limited, TCS, Microsoft, Infosys, IBM Corp., HCL Technologies, Google LLC, Robert Bosch GmbH, Qualitest, and Cognizant, among others. Every company follows its business strategy to attain the maximum market share.

Recent Developments

  • In February 2021, QA InfoTech, an independent quality assurance firm, was bought by Qualitest. The organization wants to improve its testing skills and customer service delivery.
  • In February 2021, Denim Group teamed up with NowSecure, a mobile application testing software, and services provider. With this partnership, the company hopes to provide a scalable and uniform method for ingesting security test data from any tool in the prioritizing vulnerabilities, pipeline, and driving the repair process for businesses and organizations.

Key Issues Addressed

  • What is the market size by various segmentation of the software testing by region and its respective countries?
  • What are the customer buying behavior, key takeaways, and Porter's five forces of the software testing market?
  • What are the key opportunities and trends for manufacturers involved in the software testing supply chain?
  • What are the market's fundamental dynamics (drivers, restraints, opportunities, and challenges)?
  • What and how are regulations, schemes, patents, and policies impacting the market's growth?
  • What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
  • The market player positioning, top winning strategies by years, company product developments, and launches will be?
  • How has COVID-19 impacted the demand and sales of software testing in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
  • Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.

Frequently Asked Questions

  • Key Issues Addressed
  • What is the market size and growth rate for different segmentations at a global, regional, & country level?
  • What is the customer buying behavior, key takeaways, and Porter's 5 forces of the market?
  • What are the key opportunities and trends for manufacturers involved in the supply chain?
  • What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
  • What and how regulations, schemes, patents, and policies are impacting the growth of the market?
  • How will existing companies adapt to the new change in technology?
  • The market player positioning, top winning strategies by years, company product developments, and launches will be?
  • How has COVID-19 impacted the demand and sales of in the market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
  • Who are the leading companies operating in the market? Also, who are the prominent startups that disrupt the market in coming years?
  • PUBLISHED ON: MARCH, 2024
  • BASE YEAR: 2023
  • FORECAST PERIOD: 2024-2033
  • STUDY PERIOD: 2019 - 2033
  • COMPANIES COVERED: 15
  • COUNTRIES COVERED: 24
  • NO OF PAGES: 180

Want to Review Complete Market Research Report

 
save 20%
$2450 $1950
 
save 25%
$4450 $3338
 
save 30%
$5850 $4095
 
save 35%
$8150 $5298

Budget constraints? Get in touch with us for special pricing

Request for Special Pricing

Customize this Report

  • Buy specific region or segment sections of this report
  • Buy specific region/country level reports
  • Request for Pricing Analysis, Market Dynamics, Recommendation & Conclusion
  • Companies Profiles based on Target Requirement
  • Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
  • Why Choose Market Statsville Group?
  • CXO’s Perspective
  • Real-Time Market AttractivenessIndex
  • Investment Pockets
  • Market Player Positioning
  • Competitive Heatmap
  • Parent &Peer Market Analysis
  • Primary Survey Analysis & Transcripts
  • Premium insights from industry experts
  • Robust Research Methodology
  • Market Trends & Opportunities
  • Market Growth Dynamics
  • Value/Supply Chain Analysis
  • Pre-&-Post Covid Market Scenario
  • Latest Technological Developments
  • Comprehensive Reports
  • 3-Rounds Quality Checks with Complete Assurance
  • Unlimited Post-Sales Support
  • Regular Report Updates
Didn't Get What you are looking for. Share your requirements here
Request for Customization

We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. I Accept