Software Testing Services Market in ANZ to grow by USD 1.3 billion between 2022 - 2027; Market driven by the need for cost reduction and faster time-to-market- Technavio

NEW YORK, Oct. 4, 2023 /PRNewswire/ -- The "Software Testing Services Market In ANZ by Product (Application testing and Product testing), and End-user (BFSI, Telecom and Media, Manufacturing, Retail, and Others) - Forecast and Analysis 2023-2027" report has been added to Technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the software testing services market in ANZ between 2023 and 2027 is USD 1,379.11 billion. The need for cost reduction and faster time-to-market is notably driving the growth of the market. Reducing operating time and costs ranks as the most appealing advantage of software testing services. Companies prioritize research and development efforts to craft top-notch products and software. Increasingly, businesses are opting for specialized independent testing providers equipped with essential testing tools. Even enterprises with substantial investments in testing tools grapple with a shortage of trained in-house resources for tool implementation. Additionally, software testing service providers enhance overall efficiency, allowing organizations to concentrate on their core strengths, gain a competitive edge in the ANZ software testing services market. Offloading software testing responsibilities to these experts yields time savings, ultimately slashing the total time to market and expediting revenue generation, which is expected to drive growth in the ANZ software testing services market during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy full report here

Market Challenge

A shortage of skilled software testing professionals is a challenge that restricts the growth of the market. Sustained investment in employee training and the structured management of an expanding talent pool are essential prerequisites for industry growth. However, the utilization of onshore and nearshore hubs to access local talent, establish testing facilities, and foster partnerships with tool or solution providers can present financial challenges for suppliers, potentially hindering the growth of the software testing services market in Australia and New Zealand (ANZ). The software testing profession in ANZ has grappled with a skills shortage in recent years. In such circumstances, software testing service providers catering to ANZ companies often find themselves compelled to recruit software testers from other countries at higher costs. This increased expenditure puts pressure on industry players and erodes their profit margins. As a result, the shortage of qualified software testing professionals remains a challenge for the software testing services provided to ANZ companies, which will hinder the growth of the market during the forecast period.

Learn about additional key drivers, trends, and challenges available with Technavio. Read Free Sample PDF Report Now

The software testing services market in ANZ has segmented by product (Application testing and Product testing), end-user (BFSI, Telecom and media, Manufacturing, Retail, and Others), and geography (APAC). 

• The market share growth by the application testing segment will be significant during the forecast period. The Australia and New Zealand software testing services market's application testing segment is poised for growth, thanks to the anticipated surge in application development. Application testing involves evaluating an application's functionality, consistency, and user-friendliness and encompasses desktop, mobile, and web applications. Specifically, web application testing scrutinizes aspects like business logic, application integrity, functionality, data flow, and hardware and software compatibility. The segment's growth is further fueled by increasing e-commerce expenditures, expanding smartphone adoption, a growing preference for mobile applications in daily life, and the emergence of smartphone-based banking applications. These factors are expected to be the primary drivers behind the growth of the application testing segment during the forecast period.

 View Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the software testing services market in ANZ:

Accenture Plc, Amdocs Ltd., Atos SE, Capgemini Service SAS, Cigniti Technologies Ltd., Cognizant Technology Solutions Corp., Deloitte Touche Tohmatsu Ltd., DXC Technology Co., Expleo Group SAS, HCL Technologies Ltd., Hexaware Technologies Ltd., Infosys Ltd., International Business Machines Corp., LogiGear Corp., Nippon Telegraph and Telephone Corp., Planit Test Management Solutions Pty Ltd., QualiTest Group, QualityLogic Inc., Tata Consultancy Services Ltd., and Wipro Ltd.

Related Reports:

The software testing market size is estimated to grow at a CAGR of 9.22% between 2022 and 2027. The software testing market size is forecast to increase by USD 15.94 billion.

The pure play software testing services market share is projected to surge to USD 6.05 billion from 2021 to 2026 at a CAGR of 15%.

ToC

Execustive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by End-user

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com

SOURCE Technavio