Continuous Testing Market to Grow at 15.9% CAGR to 2023
PUNE, India, May 2, 2018 /PRNewswire/ --
ReportsnReports.com adds the continuous testing market size is expected to grow from USD 1.15 billion in 2018 to USD 2.41 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 15.9% during the forecast period. Growing need among organizations across industry verticals for digital transformation of their business processes, growing need for continuous and timely delivery of software, & Dev Ops going mainstream are expected to drive growth of continuous testing market.
Browse 66 Market Data Tables and 48 Figures spread through 147 Pages and in-depth TOC on "Continuous Testing Market by Service (Professional Services and Managed Services), Interface (Web, Mobile, and Desktop), Deployment Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2023" http://www.reportsnreports.com/reports/1480328-continuous-testing-market-by-service-professional-services-and-managed-services-interface-web-mobile-and-desktop-deployment-type-organization-size-industry-vertical-and-region-global-forecast-to-2023.html .
Major vendors in continuous testing market include Mindtree (India), EPAM Systems (US), HCL Technologies (India), Atos (France), Tech Mahindra (India), Hexaware (India), Tricentis(Austria), Cigniti (India), Larsen and Toubro Infotech (India), NIIT Technologies (India), CA Technologies (US), IBM (US), Capgemini (France), Spirent Communications (UK), Micro Focus (UK), Syntel (US), Cognizant (US), Parasoft (US), Softcrylic (US), LogiGear (US), QualiTest (US), Testplant (UK), Vector Software (US), QA Mentor (US), and SmartBear Software (US).
"The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period."
The main objective of this report is to define, describe, and forecast the continuous testing market by service, deployment type, organization size, interface, industry vertical, and region. The report provides detailed information related to the major factors (drivers, restraints, opportunities, and industry-specific challenges), influencing the market growth.
Key Target Audience
- Continuous testing providers
- Professional service providers
- Managed service providers
- System integrators
- Cloud vendors
- Research organizations
- Resellers and distributors
The report forecasts continuous testing market size with respect to 5 major regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and Latin America. The report profiles the key players and comprehensively analyzes their core competencies.
"Asia Pacific (APAC) is expected to witness the highest growth rate during the forecast period."
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North America is estimated to account for the largest continuous testing market share in 2018, while APAC is expected to grow at the highest CAGR during the forecast period. APAC is expected to be a lucrative market for continuous testing during the forecast period, considering the untapped opportunities and increasing commercial investment in different industry verticals in the region.
The rapidly changing competitive scenarios have encouraged enterprises to adopt continuous testing to facilitate continuous delivery by continual improvement through feedback from business stakeholders, and by proper validation of processes and transactions. The Banking, Financial Services, and Insurance (BFSI) companies deal with critical credit management, collection management, and fraud detection management in its day to day financial operations.
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The adoption of smart devices, IoT, cloud, and mobile technologies has transformed organizations across various industry verticals. With the help of these technologies, organizations streamline their business flows and operations. Hence, based on the specific nature of their requirements, organizations are customizing their mobile technology solutions. The rapid adoption of the mobile technology and the proliferation of smartphone users have increased the demand for mobile-based software and applications.
The break-up of the profiles of primary participants is given below:
- By Company Type: Tier 1 - 22%, Tier 2 - 41%, and Tier 3 - 37%
- By Designation: C-level - 72%, D-level - 19%, and Others - 9%
- By Region: North America - 64%, Europe - 19%, Asia Pacific - 12%, and RoW - 5%
Another research titled the cloud testing market is expected to grow from USD 5.55 billion in 2017 to USD 10.24 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 13.01% during the forecast period. The market growth is driven by the increased adoption of cloud technologies across both large and small enterprises. The cloud testing ecosystem comprises vendors such as IBM (US), Oracle (US), CA Technologies (US), Micro Focus (UK), Smart Bear Software (US), SOASTA (US), Xamarin (US), Cygnet Infotech (India), Cavisson Systems (US), Tricentis (Austria), Cigniti (India), Cognizant (US), and Capgemini (France) available with 140 pages at http://www.reportsnreports.com/purchase.aspx?name=1330504 .
Explore more reports on IT and Telecommunications at http://www.reportsnreports.com/market-research/information-technology/ .
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