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Test Automation Market to Display 23.6% CAGR from 2016 to 2024, Demand for Value-added Digital Solutions Propels Market
Test automation involves the utilization of special software for performing various processes in software testing. In test automation, the actual outcome is compared with the expected outcome in order to attain the desired degree of accuracy in the complete software testing process.Increasing Software Testing Expenditure for IT Systems Benefits Market
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Currently, the global test automation market is experiencing healthy growth as organizations are stressing upon elevating IT expenditures for software testing and quality assurance (QA). Organizations have recognized the importance of the newest software testing and QA applications to reap the benefits of digitalization of systems. The ever-increasing use of mobile data in the field of multimedia, travel, telecommunications, and production lines is also the reason why the test automation market is gaining traction. Additionally, the growing use of cloud-based applications that are being deployed to decrease the effective time-to-market is supporting growth of this market.
However, the high operational costs of test automation systems, which require heavy infrastructural investments and an excessively large timeframe to set up the requisite test labs, are hindering the growth of this market. Moreover, the inadequate number of specially trained testers that have the desired skills for executing test automation is restricting the market’s growth.
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The global test automation market stood at US$12.9 bn in 2015 and is expected to reach a valuation of US$85.8 bn in 2024. This translates into a phenomenal CAGR of 23.6% for the 2016-2024 period.
Functional Testing Segment Dominates Market
On the basis of system type, the segments of the test automation market are functional testing, web services testing, compatibility testing, load testing, mobile testing, platform testing, network testing, configuration testing, acceptance testing, integration testing, security testing, migration testing, usability testing, and QA process design. Of all, in 2015, functional testing stood as the lead segment and held a share of close to 23.2% in the overall market. The segment will retain its dominant position in the coming years as well.
Nevertheless, security testing is expected to display the fastest growth rate in the global market in the 2016-2024 period. This is mainly supported by the increasing connectivity of data and information systems, along with the development of cloud computing and the Internet of Things (IoT), which are expected to become vital components of the IT industry in the years to come.
Asia Pacific to Display Fastest Growth Rate in Forecast Period
North America led the global test automation market regionally in 2015; the region held a revenue share of close to 44% in the global market. The region will retain its dominant position in the coming years due to the increasing usage of QA within organizations, with a focus on transformational projects for shorter time-to-market and high returns on investment (ROI). However, Asia Pacific will display the fastest CAGR of all regional segments from 2016 to 2024 – 26.2%. This is predominantly due to the increasing investments to hire professional testing resources for internal systems and investments for external outsourced resources.
Top companies that are involved in the global market for test automation are IBM Corporation, Wipro Ltd., Hewlett-Packard Company, Tata Consultancy Services, Zensar Technologies, Capgemini S.A., Cognizant Technology Solutions Corp., Infosys Ltd., and Hexaware Technologies.
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