Software Testing Market to grow by USD 15.94 billion from 2022 to 2027, Growth driven by the rise in test automation services – Technavio

NEW YORK, Oct. 27, 2023 /PRNewswire/ — The “software testing market by service (functional, digital testing, and specialized offering), end-user (BFSI, telecom and media, manufacturing, retail, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa) – Forecast and Analysis 2023-2027″ report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the software testing market between 2023 and 2027 is USD 15.94 billion.

The rise in test automation services is a key factor driving market growth. It is very popular for businesses to provide test automation services. They’ll accelerate software tests and shorten the time taken to run them. For these services, the software is tested by a system of automatic testing methods. The main goal of a test automation service is to minimize manual interventions and improve testing results.  In addition, a software testing process automation tool automates forms for login and registration, counts of user visitors, all the GUI components, access to database connections, or other testing-related services. The use of test automation services has increased with the advent of new software development methods such as DevOps and Agile. Hence, these factors are expected to drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge

The availability of open-source and free testing tools is a significant challenge restricting market growth. The source code can be found in the online portal of software platforms such as Open Source Software Testing Tools. The availability of free software testing tools has an impact on the profit margin of private test instrument manufacturers. Additionally, open-source testing tools are widely used by testers because they have benefits such as free usage and support, prevent company lock-in, and are created using industry standards.

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The market share growth by the functional segment will be significant during the forecast period.  Functional testing is a type of software quality control where an application’s specific functions or behavior are tested. This provision provides a framework for identifying and addressing functional problems in applications prior to their entry into production, which reduces the total costs associated with corrective actions after release.

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Key Companies in the software testing market:

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.

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The fog computing market size is estimated to grow at a CAGR of 47.69% between 2022 and 2027. The market size is forecast to increase by USD 1,244.95 million. 

The software consulting market size is estimated to grow at a CAGR of 12.04% between 2022 and 2027. The market size is forecast to increase by USD 207.63 billion. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Service

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio