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Steady Expansion Forecast for Managed Testing Services Market, Projected to Reach $660.64 Billion by 2029
Managed Testing Services
What Is the Expected CAGR for the Managed Testing Services Market Through 2025?
The market size of managed testing services has seen a swift expansion in the last few years. It is predicted to rise from $349.63 billion in 2024 to $401.32 billion in 2025 with a compound annual growth rate (CAGR) of 14.8%. Factors like rising dependence on digital platforms, complexity of software systems, business globalization, regulatory compliance demands, pressures for cost efficiency, and the requirement for specialised testing knowledge have contributed to the growth historically.
What's the Projected Size of the Global Managed Testing Services Market by 2029?
Fast-paced expansion is anticipated for the managed testing services market in the coming years, with a projection to escalate to $660.64 billion in 2029, boasting a compound annual growth rate (CAGR) of 13.3%. This predicted upsurge during the forecast period is due to factors such as the quick incorporation of new technologies, the increased emphasis on cybersecurity, the expansion of businesses across borders, the need for constant integration and delivery, constant changes in regulatory conformance norms, and the increasing demand for specialized testing proficiency. Some significant trends observable during this period include the rise of technologies like artificial intelligence, machine learning, IoT, and blockchain, an increase in the popularity of cloud-based testing platforms, a heightened focus on security testing, integration of agile and DevOps methodologies into testing processes, an increased use of automated testing tools and frameworks, growing inclination towards outcome-based testing models, and the emergence of hybrid testing methods.
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Top Growth Drivers in the Managed Testing Services Industry: What's Accelerating the Market?
The escalating trend towards digital transformation is set to thrust the managed testing services market's growth trajectory forward. Digital transformation, in essence, denotes the execution of tasks or operations using digital tech tools like computers or handheld devices, which can be succinctly termed as digital activities. The surge in digital transformation owes largely to the burgeoning awareness of its capabilities in augmenting efficiency, productivity, and industry-wide competitiveness through leveraging sophisticated technologies and analytics-driven insights. In this context, digital transformation calls for an integration of managed testing services to facilitate a streamlined assimilation and fine-tuning of emerging digital technologies and procedures. For instance, data from the Australian Bureau of Statistics, a governmental institution based in Australia, revealed that in October 2023, the aggregate digital business activity in Australia saw an uptick from 7.7% recorded in 2021 to 8.6% in 2022. It can thus be inferred that the rising wave of digital transformation is stoking the managed testing services market's growth.
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What Trends Will Shape the Managed Testing Services Market Through 2029 and Beyond?
Key players in the managed testing services market are stepping up their game through advanced solutions such as 5G network software security testing to secure a competitive advantage. This type of security testing involves evaluating the robustness and resilience of 5G systems, including their software, hardware, and applications. The goal is to identify and rectify any vulnerabilities and hazards, thereby ensuring the integrity and security of the network infrastructure. An example of this is the recent move by Nokia, a telecommunications firm based in Finland, in May 2022. They established the Advanced Security Testing and Research (ASTaR) lab in Texas, becoming the first dedicated 5G security testing facility in the U.S. The laboratory focuses entirely on cybersecurity and follows a holistic approach, surpassing individual network components to scrutinize broader network usage and misuse cases. This devoted lab will lead the development of groundbreaking tools and methodologies for assessing the security durability of 5G networks, including its associated software, hardware, and applications. By targeting and cooperating with the cybersecurity community on emerging security threats, ASTaR aims to pre-emptively detect and lessen possible vulnerabilities, thus strengthening the integrity of 5G infrastructure.
What Are the Main Segments in the Managed Testing Services Market?
The managed testing servicesmarket 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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Which Top Companies are Driving Growth 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.
Which Regions Will Dominate the Managed Testing Services Market Through 2029?
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.
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