Software Testing Market Size worth over $60 Bn by 2026
Published Date: December 17, 2019 Authors: Preeti Wadhwani, Shubhangi Yadav
Software Testing Market size is anticipated to cross USD 60 billion by 2026; according to a new research report by Global Market Insights, Inc.
The rising demand for automated testing services to reduce the software development lifecycle is one of the major factors propelling the software testing market share. The implementation of automation in testing offers optimum coverage of test suite and helps the organization to drive tangible benefits, such as accelerated results and reduced business expenses, which will propel the market revenue. Moreover, market players are investing in automation to encourage their position in the industry.
The growing integration of machine learning and AI is projected to drive the market owing to increasing adoption of web and mobile applications. AI offers high accuracy, flexibility, visual validation, and increases performance in software testing. The prominent market players are heavily investing to integrate these technologies to offer high-quality software solutions and enhance their position in the industry.
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The increasing demand for IoT devices globally due to the growing adoption of cloud platforms and wireless technologies is projected to drive the software testing market size. The rising demand for connected devices in household appliances owing to increasing disposable income is propelling the demand for IoT devices. These connected devices require IoT testing to fasten the sharing of data and command applications. IoT testing includes various types of testing, such as reliability testing, integration testing, security testing, and performance testing, which accelerate the market demand.
Unit testing holds moderate growth opportunities
Unit testing in functional testing is growing at a fast rate with an CAGR of over 5% as it is the initial level of software testing where individual components and units of the software are tested by the developer. It helps to fix bugs in the initial stage, which will save time and cost in application development. The players are focusing to develop automated software tools to decrease the dependency on the developer for unit testing.
Browse key industry insights spread across 220 pages with 401 market data tables and 25 figures & charts from the report, Software Testing Market Size By Component (Application Testing, [By Type (Functional and Non-Functional)], Services [Professional and Managed], By Application (IT & Telecom, BFSI, Manufacturing, Retail, Healthcare, Transportation & Logistics, Government & Public), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
Professional services account for dominant market share
Software testing services help businesses to accomplish defect detection, attain comprehensive testing coverage, and reduce the cost of quality assurance. IT service providers offer two types of services, professional and managed, to support enterprises’ in-house software applications.
In 2019, professional services hold majority of the market share with more than 75% and is highly adopted in the industry as they handle all the implementation, strategy, and testing in the product life cycle. Professional experts are allocated in the project to provide a roadmap to improve product quality and reduce time to market, accelerating the demand for professional services. Professional services include advisory & consulting, training, support & maintenance, etc., to improve the organization’s business area. Advisory & consulting service helps to improve the organization’s QA focus areas, such as tools, infrastructure, and people, across the delivery lifecycle.
Rising demand for high-quality services in IT & Telecom to propel market growth
IT & Telecom is the fastest-growing segment for the software testing market growing at a CAGR of over 7% during the forecasted period due to the growing implementation of web-based offerings, back-office systems, billing updating systems, and Operation, Administration, and Maintenance (OAM) systems. These systems require high-quality assurance to deliver secure and uninterrupted services to customers, which will accelerate the demand in the market.
There are various types of software testing involved in telecom services such as RF testing, roaming testing, and billing testing. There is growing customer demand for enhanced service quality, preventing fraud leakage, and supporting device fragmentation.
Flourishing demand for healthcare applications in North America to create market opportunities
The North America accounted for the majority of share more than 45% in 2019 due to the increasing adoption of software applications in various industries including healthcare, gaming, etc. The growing market trend in the regional population for digital health diagnosis is projected to drive the market in the region.
According to the American Hospital Association, 76% of the U.S. hospitals are connected with consulting practitioners and patients through applications and video technologies. Moreover, the rising consumer demand for automation and IoT devices in the region is projected to drive the market. This is due to the rising disposable income and high standard of living in the region.
The key players operating in the software testing market are Accenture, Cognizant, IBM, TCS, Infosys, Amdocs, HCL Tech. Wipro, Capgemini, and Atos. The market is highly competitive, and the players need to design more enhanced testing platforms to improve their position. The implementation of machine learning and artificial intelligence is likely to have a positive impact on the overall market. Companies are implementing business strategies to gain competitive edge among other players.
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