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Managed Testing Services Market 2024-2033: Opportunity Assessment, Competitive Landscape, Regional Demand And Major Players
Managed Testing Services Market
As per the report, 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 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%.
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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.
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.
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
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Major companies operating in the managed testing services market are Accentu*re 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.
Contents of the report:
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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