Global Continuous Testing Market to Reach $2.41 Billion by 2023 - Driven by the Growing Need for Continuous and Timely Delivery of Software

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May 04, 2018, 01:30 ET

DUBLIN, May 4, 2018 /PRNewswire/ --

The "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" report has been added to ResearchAndMarkets.com's offering.

The continuous testing market 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, owing to the growing need for continuous and timely delivery of software.

In addition to this, organizations across various industry verticals are looking forward to digital transformation for enhancing their business operations and DevOps going mainstream are the factors that are driving the growth of market. Moreover, enterprises consider continuous testing important, as they help them minimize their business risks associated with their software assets.

The rapidly changing competitive scenarios has 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. BFSI organizations are looking forward to provide customer friendly digital solutions and software platforms, so that they can serve their customers in a better way. The BFSI industry has been a major contributor, in terms of the revenue generated, in the continuous testing market.

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. Many mobile technology vendors help enterprises test their technology platforms that assist them in meeting their business goals. These platforms also help in creating and managing connections with people, machines, and information across enterprises, readily available at any time and anywhere. Continuous Testing empowers organizations to seamlessly integrate their software with their existing systems, thereby facilitating them to enhance their business operations through the effective implementation of smart technologies. As a result, the mobile segment is expected to grow at the highest CAGR during the forecast period.

North America is estimated to account for the largest market size and dominate the continuous testing market from 2018 to 2023. This region has a high concentration of BFSI, retail and consumer goods, healthcare, and transportation and logistics companies, which largely contribute to the market. However, the Asia Pacific (APAC) region is expected to provide opportunities for continuous testing service providers. These growth opportunities can be attributed to the increasing commercial investments by several companies in the APAC region. However, the heavy dependency of organizations on traditional testing approaches is expected to restrain the growth of market.

Market Dynamics

Drivers

Devops Going Mainstream
Growing Need for Continuous and Timely Delivery
Digital Transformations

Restraints

Heavy Dependency on Traditional Approaches

Opportunities

Advancements in AI, Neural Networks, and Machine Learning Technologies
Increasing Adoption of IoT-Enabled Devices

Challenges

Heterogeneous Test Environment
Lack of Skilled and Experienced Test Automation Professionals

Key Topics Covered

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Research Assumptions
2.4 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Continuous Testing Market
4.2 Market By Service
4.3 Market By Deployment Type
4.4 Market By Organization Size
4.5 Market By Interface
4.6 Market By Industry Vertical and Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics

6 Continuous Testing Market, By Service
6.1 Introduction
6.2 Managed Services
6.3 Professional Services

7 Market By Deployment Type
7.1 Introduction
7.2 On-Premises
7.3 Cloud

8 Market By Organization Size
8.1 Introduction
8.2 Small and Medium-Sized Enterprises
8.3 Large Enterprises

9 Continuous Testing Market, By Interface
9.1 Introduction
9.2 Web
9.3 Mobile
9.4 Desktop

10 Continuous Testing Market, By Industry Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.3 Retail and Consumer Goods
10.4 Transportation and Logistics
10.5 Healthcare
10.6 Manufacturing
10.7 Telecom and It
10.8 Energy and Utilities
10.9 Government
10.10 Media and Entertainment
10.11 Others

11 Continuous Testing Market, By Region
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia Pacific
11.5 Middle East and Africa
11.6 Latin America

12 Competitive Landscape
12.1 Overview
12.2 Market Ranking
12.3 Competitive Scenario

13 Company Profiles
13.1 EPAM Systems
13.2 Mindtree
13.3 HCL Technologies
13.4 ATOS
13.5 Tech Mahindra
13.6 Hexaware
13.7 Tricentis
13.8 Cigniti
13.9 Larsen & Toubro Infotech
13.10 NIIT Technologies
13.11 Qualitest
13.12 CA Technologies
13.13 Logigear
13.14 IBM
13.15 Capgemini
13.16 Parasoft
13.17 Softcrylic
13.18 Spirent Communications
13.19 Cognizant
13.20 Micro Focus
13.21 Syntel
13.22 Key Innovators

For more information about this report visit https://www.researchandmarkets.com/research/3892zm/global_continuous?w=5

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