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Software Testing Market 2024-2033: Global Outlook, Industry Share, Latest Trends And Major Players
Software Testing Market
As per the report, the software testing market size has grown strongly in recent years. It will grow from $48.17 billion in 2023 to $52.45 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The software testing market size is expected to see strong growth in the next few years. It will grow to $74.8 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%.
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Cloud Computing Adoption Fuels Expansion Of Software Testing Market
The continuous adoption of cloud computing is expected to propel the growth of the software testing market going forward. The adoption of cloud computing is increasing due to its cost-effectiveness, scalability, accessibility, innovation opportunities, reliability, security, and environmental sustainability. Software testing in cloud computing ensures that applications meet quality standards, perform reliably, and deliver a seamless user experience in dynamic and distributed cloud environments. For instance, in January 2023, according to the State of DevOps Study by Google Cloud Platform's DevOps Research and Assessment (DORA) team, a US-based cloud computing service, in 2022, 26% of the population reported using several public clouds, compared to 21% in 2021. Hybrid cloud utilization has also intensified, from 25% to 42.5%. 76% of users reported using the public cloud, encompassing several clouds-up from 56% in 2021. Therefore, the continuous adoption of cloud computing is driving the growth of the software testing market.
Technological Advancement To Facilitate Effective Testing
Major companies operating in the software testing market are focusing on introducing technologically advanced solutions, such as AI-powered software testing tools, to gain a competitive edge in the market. AI powered testing tools can automatically generate test cases based on the analysis of requirements, code, and historical data. For instance, in June 2022, Cyient, an India-based global technology solutions company, introduction CyFAST, an AI-driven framework for automated system and software testing aimed at expediting end-to-end test automation. CyFAST facilitates automated testing across various platforms, including web, mobile, desktop, and embedded applications and hardware devices, offering a holistic solution for test project management. This cutting-edge platform facilitates effective and top-tier testing of intricate systems and software, utilizing cognitive intelligence for enhanced test orchestration, risk-based testing, and regulatory compliance documentation.
The software testing market covered in this report is segmented -
1) By Type: System Integrator, Pureplay Software Testing
2) By Component: Application Testing, Services
3) By Application: IT and Telecom, BFSI, Manufacturing, Retail, Healthcare, Transportation And Logistics, Government And Public Sector, Consumer Electronics, Media
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Major companies operating in the software testing market are Accent*ure PLC, International Business Machines Corporation (IBM), Fujitsu Limited, Tata Consultancy Services Limited (TCS), Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, HCL Technologies Limited, Atos SE, Wipro Limited, CGI Inc., Tech Mahindra Limited, Sopra Steria Group, Micro Focus International plc, UST Global Inc., Neusoft Corporation, Hexaware Technologies Limited, Cyient Limited, QualiTest Group, Tricentis AG, L&T Technology Services Limited, Cigniti Technologies Limited, Astegic Inc., Serengeti
Contents of the report:
1. Executive Summary
2. Software Testing Market Report Structure
3. Software Testing Market Trends And Strategies
4. Software Testing Market - Macro Economic Scenario
5. Software Testing Market Size And Growth
…..
27. Software Testing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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