Automation Testing Market to Reach USD 21870 Million by 2028 at a CAGR of 10.2% | Valuates Reports
BANGALORE, India, Feb. 21, 2022 /PRNewswire/ -- The Global Automation Testing Market is Segmented by Type (Functional Testing, Non-Functional Testing), by Application (Banking, Financial Services, and Insurance, Defense and Aerospace, Automotive, Retail, Manufacturing, Healthcare and Life Sciences, Telecom ad IT, Defense and Aerospace, Logistics and Transportation, Energy and Utilities): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Manufacturing Category.
The global Automation Testing market size is projected to reach USD 21870 Million by 2028, from USD 10750 Million in 2021, at a CAGR of 10.2% during 2022-2028.
Major Factors Driving the Growth of Automation Testing Market:
Increasing adoption of advanced technologies, mobile, and web-based applications with various form factors is creating demand for automated testing solutions thereby driving the growth of the automated testing market. Automated testing solutions provide a host of benefits such as increased productivity through minimal human intervention, cost reduction, faster development, accurate bug detection, fast time to market delivery, shorter release cycles, quick updates, and changes. The above-mentioned benefits will propel the market ahead in the coming years.
Moreover, the need to reduce manual errors is leading to the adoption of automated testing methods which is also contributing to the market growth.
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TRENDS INFLUENCING THE GROWTH OF THE AUTOMATION TESTING MARKET
Widespread adoption of advanced technologies:
Modern technologies such as IoT, AI, and machine learning are expanding rapidly. This has created immense opportunities for the automation testing industry. Moreover, most businesses operate digitally through rule-based software which has limitations with respect to significant issue handling capabilities. They consume a lot of time and decrease employee productivity as they execute repetitive tasks. Automation tools help quality assurance specialists to increase efficiency in processes thereby increasing employee performance. This leads to faster and more accurate detection of bugs and the generation of relevant data for decision-making. Thus the advent of advanced technologies will bolster the growth of the automation testing market during the forecast period.
Increasing use of mobile and web-based applications:
Smartphones and internet usage has become an essential part of everyday life. Businesses are reliant on mobile apps, software, and web applications for managing their operational activities. This is due to the cost-efficiency of mobile phones, cheaper data prices, widescale availability of numerous web-based applications, and growing spending power. Automated testing tools provide a range of benefits in mobile apps such as low costs, reduced development time, faster release cycles, time to market delivery, and quick deployment. Thus the growing use of mobile and web-based applications along with increasing benefits will lead to wide scale adoption ultimately fueling the growth of the automation testing market in the coming years.
Need for reducing manual errors:
Manual testing has the scope of human error. Low coverage and continuous cycle of repetitive tasks reduce the accuracy rate and leave room for glitches. Automation eliminates the need for human intervention and accurately stores the test results. The coverage is also higher in comparison to manual testing leading to better error detection. Thus the need for reducing manual errors will augment the demand for automation testing tools thereby driving the market growth in the coming years.
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AUTOMATION TESTING MARKET SHARE ANALYSIS
Based on type, functional testing will dominate the automation testing market due to the adoption of automated tools for testing functional requirements of the software.
Based on application, Banking, Financial Services, and Insurance (BFSI) segment held a significant share of the automation testing market. Rapid digitalization in the industry is augmenting the demand for these tools for quality assurance and security purposes.
Based on region, the APAC segment will provide immense opportunities for growth due to the presence of emerging economies such as China, India, Japan which provide huge potential for automation testing vendors. Further, the large customer base and growing government initiatives for the implementation of advanced technologies will propel the market during the forecast period.
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Key Players:
- IBM
- Broadcom
- Micro Focus
- Capgemini
- Microsoft
- Tricentis
- SmartBear Software
- Parasoft
- Cigniti Technologies
- Ranorex
- TestPlant.
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