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Demand, Innovations, and Growth Forecast for the Artificial Intelligence (AI) Enabled Testing Market 2024-2033
Artificial Intelligence (AI) Enabled Testing Global Market Report 2024
According to The Business Research Company's, The artificial intelligence (AI)-enabled testing market size has grown exponentially in recent years. It will grow from $0.58 billion in 2023 to $0.70 billion in 2024 at a compound annual growth rate (CAGR) of 21.7%. The growth in the historic period can be attributed to the demand for accelerated software development, the complexity of software systems, the adoption of agile and DevOps methodologies, the need for enhanced test coverage and accuracy, and the pressure to reduce testing costs.
The artificial intelligence (AI)-enabled testing market size is expected to see exponential growth in the next few years. It will grow to $1.56 billion in 2028 at a compound annual growth rate (CAGR) of 21.1%. The growth in the forecast period can be attributed to the emergence of AI-powered test analytics platforms, integration of AI with test management tools, expansion of AI capabilities in continuous testing pipelines, demand for AI-driven security testing solutions, a proliferation of AI-based testing in IoT and embedded systems. Major trends in the forecast period include the adoption of AI-driven test generation and execution, the rise of AI-based autonomous testing agents, the growth of AI-enabled predictive testing models, the integration of AI with blockchain testing frameworks, and the expansion of AI-driven testing to edge computing environments.
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Market Drivers and Trends:
The rise of cloud computing is expected to propel artificial intelligence (AI)-enabled testing market going forward. Cloud computing refers to delivering computing services, including servers, storage, databases, networking, software, and analytics, over the Internet to offer faster innovation, flexible resources, and economies of scale. The rise of cloud computing is due to its ability to provide scalability, cost-effectiveness, and accessibility, enabling businesses to streamline operations, enhance flexibility, and leverage advanced technologies without the need for extensive infrastructure investments. AI-powered testing generates actionable insights from testing data, helping stakeholders make informed decisions about the quality and readiness of the software for deployment. For instance, in December 2023, according to Eurostat, a Luxembourg-based governmental organization of the European Union operating as the statistical office, in 2022, the adoption rate of cloud computing services among medium-sized enterprises increased to 59%, marking a rise from 53% in 2021. Therefore, the rise of cloud computing is driving the growth of the artificial intelligence (AI)-enabled testing market.
Major companies operating in the artificial intelligence (AI)-enabled testing market are developing advanced testing solutions such as application security testing solutions to gain a competitive edge in the market. Application security testing solutions help organizations proactively identify and remediate security vulnerabilities in their software applications, reducing the risk of security breaches and protecting sensitive data from unauthorized access or exploitation. For instance, in April 2024, Invicti, a US-based web application security company, launched an AI-enabled Predictive Risk Scoring capability. This feature assigns predicted risk levels to applications, helping organizations gain a strategic view of the security risk. This new capability remaps the application security testing process to profile and calculate a risk score on all discovered web applications before scanning begins, requiring no scanning resources or customer data to assess the risk score.
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Major Key Players of the Market:
Amazon.com Inc., Google LLC, Microsoft Corporation, Dell Technologies Inc., Siemens AG, International Business Machines Corporation (IBM), Cisco Systems Inc., Oracle Corporation, Broadcom Inc., SAP SE, Hewlett Packard Enterprise Company, Salesforce.com Inc., Adobe Inc., VMware Inc., ServiceNow Inc., Autodesk Inc., Red Hat Inc., Twilio Inc., Citrix Systems Inc., Atlassian Corporation Plc, RingCentral Inc., GitHub Inc., Slack Technologies Inc., Sonatype Inc., CA Technologies Inc.
Artificial Intelligence (AI) Enabled Testing Market 2024 Key Insights:
• The artificial intelligence (AI)-enabled testing market size is expected to see exponential growth in the next few years. It will grow to $1.56 billion in 2028 at a compound annual growth rate (CAGR) of 21.1%.
• Cloud Computing Drives Growth Of AI-Enabled Testing Market
• AI-Enabled Testing Tools Harness Generative AI For Enhanced Test Data Generation
• North America was the largest region in the artificial intelligence (AI)-enabled testing in 2023
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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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