Press release
Digital Transformation Fuels Growth Of Managed Testing Services Market: An Emerging Driver Transforming The Managed Testing Services Market Landscape
Managed Testing Services Market
What Is the Projected Growth of the Managed Testing Services Market?
The managed testing services market is projected to grow rapidly, from $349.63 billion in 2024 to $401.36 billion in 2025, at a CAGR of 14.8%. The growth is attributed to the increasing reliance on digital platforms, the complexity of software systems, globalization, regulatory compliance requirements, cost pressures, and the need for specialized testing expertise.
The managed testing services market is projected to grow rapidly, reaching $688.27 billion by 2029 at a CAGR of 14.4%. Growth is driven by emerging technologies, cybersecurity focus, globalization, continuous integration and delivery demands, and evolving regulatory compliance. Key trends include AI, machine learning, IoT, blockchain, cloud-based testing platforms, security testing, automated testing tools, hybrid testing approaches, and outcome-based models.
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What Are the Different Managed Testing Services Market 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
Subsegments:
1) By Onshore: Local Service Providers, Onshore Full-Time Equivalents (FTEs)
2) By Offshore: Offshore Delivery Centers, Offshore Full-Time Equivalents (FTEs)
3) By Nearshore: Nearshore Delivery Centers, Nearshore Full-Time Equivalents (FTEs)
4) By Onsite: Onsite Testing Teams, Onsite Test Managers And Specialists
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What Are the Primary Drivers Shaping the Managed Testing Services Market?
The ongoing digital transformation is expected to drive the growth of the managed testing services market. Digital transformation refers to integrating digital technologies like computers and mobile devices into business processes to improve efficiency and competitiveness. This transformation is gaining momentum due to the recognition of its potential to enhance productivity, streamline operations, and facilitate innovation across industries. Managed testing services are crucial in ensuring the smooth adoption and optimization of digital technologies. In October 2023, the Australian Bureau of Statistics reported that Australia's total digital business activity rose from 7.7% in 2021 to 8.6% in 2022. Consequently, the increasing digital transformation is driving the growth of the managed testing services market.
Which Companies Are Leading in the Managed Testing Services Market?
Major companies operating in the managed testing services market are accenture* 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.
What Trends Are Driving Growth in The Managed Testing Services Market?
Leading firms in the managed testing services sector are turning their focus towards innovative offerings like 5G network software security testing tools to stay ahead in the competition. The process of 5G network security testing involves thorough examination of the 5G networks, including software, hardware, and applications, to identify potential flaws and risks to ensure the security and integrity of the network framework. For example, in May 2022, Nokia, a telecommunications firm based in Finland, inaugurated an Advanced Security Testing and Research (ASTaR) lab in Texas. It stands as the first 5G testing facility in the U.S dedicated entirely to cybersecurity. The ASTaR lab implements an all-encompassing strategy towards cybersecurity, exploring not just individual network components but wider network use and misuse scenarios. This singular lab aims to develop novel tools and methodologies to assess the security robustness of 5G networks, encompassing pertinent software, hardware, and applications. With a view to tackle emerging security threats and partner with the cybersecurity community, ASTaR strives to proactively detect and alleviate possible vulnerabilities, thus fortifying the reliability of 5G infrastructure.
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What Are the Top Revenue-Generating Geographies in the Managed Testing Services Market?
North America was the largest region in the managed testing services market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Managed Testing Services Market?
2. What is the CAGR expected in the Managed Testing Services Market?
3. What Are the Key Innovations Transforming the Managed Testing Services Industry?
4. Which Region Is Leading the Managed Testing Services Market?
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