Managed Testing Services Market Opportunities, Trends, Growth, Top Companies And Forecast 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Managed Testing Services Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $601.55 billion In 2028 At A CAGR Of 14.5% :

The managed testing services market size has grown rapidly in recent years. It will grow from $306.44 billion in 2023 to $349.63 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth in the historic period can be attributed to increased reliance on digital platforms, the complexity of software systems, globalization of businesses, regulatory compliance requirements, cost efficiency pressures, and the need for specialized testing expertise.

The managed testing services market size is expected to see rapid growth in the next few years. It will grow to $601.55 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to the rapid adoption of emerging technologies, heightened focus on cybersecurity, globalization of businesses, demand for continuous integration and delivery, evolving regulatory compliance requirements, and rising need for specialized testing expertise. Major trends in the forecast period include emerging technologies such as artificial intelligence, machine learning, IoT, and blockchain, a surge in the adoption of cloud-based testing platforms, emphasis on security testing, integration of agile and DevOps methodologies into testing processes, a proliferation of automated testing tools and frameworks, growing preference for outcome-based testing models, and the rise of hybrid testing approaches.

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Managed Testing Services Market Major Segments
The managed testing services market covered in this report is segmented -
1) By Delivery Model: Onshore, Offshore, Nearshore, Onsite
2) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
2) By Industry Vertical: Healthcare And Life Sciences, Banking, Financial Services, And Insurance (BFSI), Telecommunications And Information Technology (IT), Retail, Government And Public Sector, Media And Entertainment, Manufacturing, Energy And Utilities, Logistics And Transportation, Other Industry Verticals

Key Driver - Digital Transformation Fuels Growth Of Managed Testing Services Market

The increasing digital transformation is expected to propel the growth of the managed testing services market going forward. Digital transformation involves conducting tasks or operations by incorporating digital technologies such as computers or handheld devices, often described as digital activities. Digital transformation is increasing due to growing recognition of its potential to enhance efficiency, productivity, and competitiveness across industries by leveraging advanced technologies and data-driven insights. Digital transformation necessitates integrating managed testing services to ensure the seamless adoption and optimization of evolving digital technologies and processes. For instance, in October 2023, according to the Australian Bureau of Statistics, an Australia-based governmental organization, the total digital business activity in Australia increased from 7.7% in 2021 to 8.6% in 2022. Therefore, the increasing digital transformation is driving the managed testing services market.

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Prominent Trend - Innovative Solutions and Initiatives Propel Managed Testing Services Market Forward

Major companies operating in the managed testing services market are focusing on advanced solutions, such as 5G network software security testing solutions, to gain a competitive edge in the market. 5G network security testing entails assessing the strength and durability of 5G networks, encompassing software, hardware, and applications, to discover and address possible weaknesses and risks, thereby safeguarding the integrity and protection of the network infrastructure. For instance, in May 2022, Nokia, a Finland-based telecommunications company, launched an Advanced Security Testing and Research (ASTaR) lab in Texas. It is a first-of-its-kind 5G testing facility in the U.S. focused solely on cybersecurity. ASTaR takes a comprehensive approach to cybersecurity, going beyond individual network elements to examine broader network use and abuse scenarios. This dedicated lab will pioneer cutting-edge tools and methodologies to evaluate the security resilience of 5G networks, including associated software, hardware, and applications. By addressing emerging security threats and collaborating with the cybersecurity community, ASTaR aims to proactively identify and mitigate potential vulnerabilities, reinforcing the integrity of 5G infrastructure.

Managed Testing Services Market Players
Major companies operating in the managed testing services market are Accentur*e plc, International Business Machines Corporation, Tata Consultancy Services Limited, NTT Data Corporation, Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, DXC Technology Company, HCL Technologies Limited, Atos SE, Wipro Limited, CGI Inc., Virtusa Corporation, Tech Mahindra Limited, EPAM Systems Inc., UST Global Inc., Expleo Group, Larsen & Toubro Infotech Limited, Qualitest Group Limited, Hexaware Technologies Limited, Zensar Technologies Limited, TestingXperts Private Limited, Tricentis AG, QASource Inc., ThinkSys Inc., QA Consultants Inc., Testbirds GmbH, Testlio Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the managed testing services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the managed testing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Managed Testing Services Market Report Structure
3. Managed Testing Services Market Trends And Strategies
4. Managed Testing Services Market - Macro Economic Scenario
5. Managed Testing Services Market Size And Growth
…..
27. Managed Testing Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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