The global software testing market size is expected to grow from USD 42.5 billion in 2020 to USD 69.3 billion by 2027, growing at a CAGR of 8.5% from 2021 to 2027. Growing adoption of applications Web for remote work in the software industry is increasing the demand for AI-based solutions. Various companies are integrating these technologies into their software testing tools to ensure the effectiveness of software, thus fueling the growth of the market. Major industry players are investing in the integration of AI technology to deliver high-quality software solutions to customers and improve their market position.
Growing technological developments in artificial intelligence, machine learning, and CI/CD for the IT sector will likely boost the growth of the industry. AI improves overall test performance through high accuracy, flexibility in the software testing process, and better visual validation.
The growing need for blockchain testing services is fueled by the growing trend of privacy and digital security in the cryptocurrency, government, and banking sectors. Businesses can use blockchain testing to verify, validate, encrypt and decrypt financial transactions at rapid speeds and manage and protect user identification.
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Impact of COVID-19 on the Global Software Testing Market
The COVID-19 pandemic has accelerated software testing solutions across a wide range of industries including IT, Telecom, BFSI, Retail, and Manufacturing, among others, to achieve faster delivery times. shorter and a better customer experience. The increased acceptance of cloud computing solutions, both cloud software testing and SaaS services, has resulted from the lockdowns. The pandemic has had a favorable impact on the work-from-home market trend, resulting in a significant increase in the need for automated AI-based software testing for various remote software applications and IT infrastructure maintenance.
Global Software Testing Market Dynamics
Drivers: Growing Digitalization in Developing Economies
Growing consumer interest in digital services such as online banking, education, telemedicine and online shopping will support the demand for software testing. These digital services are very dynamic as they constantly update their products and services, which requires continuous testing and development of mobile applications. Several companies are developing new testing frameworks and tools to reduce the time needed to test mobile apps. The increased need for efficient and cost-effective procedures for detecting software flaws in IT businesses is expected to drive the market revenue.
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The study categorizes the software testing market on the basis of component, waste type, method, and application regionally and globally.
Outlook by Component (Thousand Units, Revenue, 2017-2027, USD Million)
By Outlook Application (‘000 Units, Revenue, 2017-2027, USD Million)
IT & Telecom
Government and public sector
Outlook by Region (Thousand Units, Revenue, 2017-2027, USD Million)
North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)
Asia-Pacific accounts for the highest CAGR during the forecast period
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Based on regions, the global software testing market has been segmented into North America, Asia-Pacific, Europe, South America, and Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR in the global software testing market during the forecast period. The region includes countries such as India, Japan, China, Australia, South Korea, Southeast Asia and the rest of Asia-Pacific. The growth of the region is mainly due to the strong economic growth of emerging national countries such as China, Malaysia, Indonesia and India.
Increasing government initiatives and investments to promote digitalization in China, India and Japan. In March 2021, the South Korean government announced its intention to invest in the country’s booming internet retail sector. The coronavirus outbreak is driving this spending as shopping habits have shifted towards digital purchases.
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Main market players
Software testing market is slightly concentrated in nature with few global players operating in the market such as Tech Mahindra Limited, Siemens AG, Wipro Limited, TCS, Microsoft, Infosys, IBM Corp., HCL Technologies, Google LLC, Robert Bosch GmbH, Qualitest and Cognizant, among others. Each company follows its business strategy to achieve the maximum market share.
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This press release was published on openPR.