Software Testing Services Market to Grow at a CAGR of 15.07% | Regional Outlook, Growth Potential, Competitive Market Share & Forecast | Technavio
NEW YORK, June 28, 2022 /PRNewswire/ -- Software Testing Services Market Facts at a Glance-
NEW YORK, June 28, 2022 /PRNewswire/ -- Software Testing Services Market Facts at a Glance-
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According to the recent market study by Technavio, the Software Testing Services Market Share in IT Consulting & Other Services Industry is expected to increase by USD 55.76 billion, with a CAGR of 15.07%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenarios, future market trends, market size & estimations, and major investment pockets.
North America will register the highest growth rate of 40% among the other regions. The US and Canada are the key markets for software testing services. Moreover, market growth in North America will be slower than the growth of the market in other regions.
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The software testing services market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Accenture Plc - The company announced the launch of INTENT, a technology platform that vastly improves the continuity and flow of data across life sciences enterprises. Moreover, the company announced the launch of my concerto Platform which allows enterprises to innovate, amplify business results, and accelerate their digital transformation.
Capgemini SE - The company announced that it had developed an intelligent data platform called Project Financial and Agricultural Recommendation Models (FARM). The platform uses AI to analyze farming patterns and generate insights from the data to make recommendations.
International Business Machines Corp. - The company announced that it had developed an intelligent data platform called Project Financial and Agricultural Recommendation Models (FARM). The platform uses AI to analyze farming patterns and generate insights from the data to make recommendations.
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The software testing services market in North America is expected to garner significant business opportunities for the vendors during the forecast period. US and Canada are the key markets for software testing services in North America. Market growth in this region will be slower than the growth of the market in the South American and APAC regions.
The increasing demand for software development and applications will facilitate the software testing services market growth in North America over the forecast period.
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Mobile applications have become an indispensable part of most business entities. They serve many purposes, such as easy interaction with customers, promotion of new products and services, and enhancing customer satisfaction. Mobile testing has evolved to ensure the quality of an enterprise's products or services. It comprises the redressal of mobile woes and enables the enterprise to test for and prevent any type of failure in the program.
Mobile testing involves install/uninstall testing, screen orientation testing, gesture testing, device compatibility testing, connectivity testing, and UI/UX testing. The growing demand for mobile testing is expected to boost the growth of the global software testing services market during the forecast period.
Crowdsourced testing is one of the emerging trends in the software testing space. It refers to the testing services offered by a dispersed community of temporary workers across the world. It offers a significant testing method for the verification of applications in the later stages of software development. Crowdsourced testing offers many benefits, such as scalability, speed, output-based pricing, device coverage, geography coverage, and real-time testing of software.
During the forecast period, crowdsourced testing will gain more traction, and it is expected that other leading software testing service providers may enter this field through inorganic developments.
Find additional information about various other market Drivers & Trends mentioned in our sample report.
Geospatial Data Analytics Market by Technology and Geography - Forecast and Analysis 2022-2026
Software Testing Services Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.07% |
Market growth 2022-2026 |
$ 55.76 billion |
Market structure |
Fragmented |
YoY growth (%) |
13.77 |
Regional analysis |
North America, Europe, APAC, and South America |
Performing market contribution |
North America at 42% |
Key consumer countries |
US, UK, Germany, Canada, and China |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Accenture Plc, Atos SE, Capgemini SE, Cognizant Technology Solutions Corp., DXC Technology Co., HCL Technologies Ltd., International Business Machines Corp., Infosys Ltd., Tata Consultancy Services Ltd., and Wipro Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by End-user
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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SOURCE Technavio
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