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Crowdsourced Testing Market Report 2024-2033 | Size, Share, Trends, Growth Demand, Overview
Crowdsourced Testing Market Report
According to The Business Research Company's, The crowdsourced testing market size has grown rapidly in recent years. It will grow from $2.16 billion in 2023 to $2.38 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to requirement for adopting cost effective software development process, increasing need to fill the in-house skill gap, need for scaling quality assurance of software, need for faster software development cycles, flexibility in testing procedure.
The crowdsourced testing market size is expected to see strong growth in the next few years. It will grow to $3.46 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to increasing internet penetration, growth of IoT, increasing number of applications and operating systems, growing number of digital devices, rising demand for digital transformation. Major trends in the forecast period include innovation of end-user testing solutions, product innovation, technological advancements, adoption of advanced technologies such as cloud computing, business expansion.
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Market Drivers and Trends:
The increasing internet penetration is expected to propel the growth of the crowdsourced testing market going forward. The rise of remote work, online shopping, e-commerce platforms, and online learning highlighted the demand for internet connectivity. Crowdsourced testing provides valuable insights into how internet connections perform in real-world scenarios, including during peak usage times, in different geographical locations, and with various network providers. This approach involves leveraging a diverse pool of testers from other places to evaluate software under realistic conditions, including network performance testing. For instance, in November 2022, according to a report published by the International Telecommunication Union, a Switzerland-based specialized agency, around 5.3 billion individuals, representing 66% of the world's population, were estimated to be internet users in 2022. This indicates a growth rate of 6.1% compared to 2021. Therefore, increasing internet penetration is driving the growth of the crowdsourced testing market.
Major companies operating in the crowdsourced testing market are developing advanced technologies such as crowdsourcing platforms. A crowdsourcing platform is a digital space where individuals or organizations can engage with a global community of problem solvers to address various challenges, tasks, or projects. For instance, in December 2023, Tech Mahindra, an India-based information technology services and consulting company, launched Populii. This platform connects gig workers with leading organizations to collaborate on micro-jobs. The platform offers flexible work options for gig workers while giving businesses trustworthy data from skilled professionals. Populii provides numerous opportunities for gig workers to work in data management, microtasks, and user research with industry-leading companies. The crowdsourcing platform aligns with Tech Mahindra's NXT.NOW philosophy, prioritizing the 'Human Centric Experience' and investing in emerging technologies to promote digital transformation and address changing customer needs.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Infosys Limited, EPAM Systems Inc., MSG Systems AG, Flatworld Solutions Pvt. Ltd., Computer Task Group Inc. (CTG), Qualitest Inc., Cigniti Technologies Ltd., Bugcrowd Inc., test IO Inc., Testbirds GmbH, Synack, Testlio Inc., ImpactQA, Global App Testing, Rainforest QA Inc., Digivante Ltd., Qualitrix Technologies Pvt. Ltd., Ubertesters Inc., MyCrowd, Crowd4Test, TestUnity, Test Yantra Software Solutions, QA Mentor Inc., Cobalt Labs Inc., Applause App Quality Inc., Crowdsprint Pty Ltd
Crowdsourced Testing Market 2024 Key Insights:
• The Crowdsourced Testing Market is expected to grow to $3.46 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%.
• Impact Of Internet Penetration On Crowdsourced Testing Market Growth
• Innovative Technologies Driving Advancements In Crowdsourced Testing
• North America was the largest region in the crowdsourced testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the crowdsourced testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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