The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

The software testing market has witnessed robust growth in recent years, driven by technological advancements and the increasing demand for high-quality software solutions. Let’s delve into the current trends and future prospects shaping this dynamic industry.

Current Market Dynamics

• Market Size: The software testing market was valued at $48.17 billion in 2023.
• Growth Rate: It is projected to reach $52.45 billion in 2024, growing at a compound annual growth rate (CAGR) of 8.8%.

Key Growth Drivers

Accelerated Software Development Lifecycles

• Organizations are adopting agile and DevOps methodologies to expedite software development cycles.
• Shorter development lifecycles necessitate efficient and effective testing processes.

Emphasis on Product Innovations

• Continuous innovation is driving the development of new software products and features.
• Rigorous testing ensures that innovative solutions meet quality standards and user expectations.

Surge in Online Transactions

• The proliferation of e-commerce and digital services has led to a surge in online transactions.
• Robust testing is essential to ensure the reliability, security, and performance of online platforms.

Adoption of Continuous Integration

• Continuous integration practices automate code integration and testing.
• This streamlines the development process and enhances overall software quality.

Need for Automated Testing Tools

• Automated testing tools streamline testing processes and improve efficiency.
• These tools help organizations achieve faster time-to-market and reduce manual effort.

 

View More On The Software Testing Market Report 2024 – https://www.thebusinessresearchcompany.com/report/software-testing-global-market-report

 

Future Market Outlook

• Market Size: The software testing market is expected to reach $74.8 billion by 2028.
• Growth Rate: It is anticipated to grow at a CAGR of 9.2%.

Factors Driving Future Growth

Surging Usage of Mobile-Based Applications

• Mobile applications are becoming increasingly prevalent across industries.
• Continuous updates and enhancements drive the demand for robust mobile testing solutions.

Expansion in the BFSI Segment

• The BFSI sector is witnessing a growing number of online transactions and digital services.
• Robust software testing solutions are essential to ensure data security and regulatory compliance.

Adoption of Reliable Testing Solutions

• Organizations are increasing their investment in software testing to mitigate risks and ensure quality.
• Reliable testing solutions play a crucial role in safeguarding against software failures and vulnerabilities.

Major Trends in the Forecast Period

Adoption of Cloud Computing

• Cloud computing offers scalability, accessibility, and cost-effectiveness for software testing.
• Cloud-based testing solutions streamline infrastructure management and enhance testing efficiency.

Technological Advancements

• Continued advancements in testing technologies improve accuracy, reliability, and performance.
• AI-powered testing tools automate test case generation and enhance testing capabilities.

Accelerated Delivery of High-Quality Software Products

• Agile and DevOps practices enable organizations to deliver high-quality software products rapidly.
• Continuous testing and integration ensure that software meets quality standards throughout the development lifecycle.

Cloud Computing Adoption Fuels Market Expansion

The adoption of cloud computing is driving the growth of the software testing market by providing cost-effective and scalable testing solutions.

Example: According to the State of DevOps Study by Google Cloud Platform’s DevOps Research and Assessment (DORA) team, hybrid cloud utilization has intensified, reaching 42.5% in 2022, up from 25% in 2021.

Key Players Driving Innovation

• Accenture PLC
• International Business Machines Corporation (IBM)
• Fujitsu Limited
• Tata Consultancy Services Limited (TCS)
• Capgemini SE
• Cognizant Technology Solutions Corporation
• Infosys Limited
• HCL Technologies Limited
• Atos SE
• Wipro Limited
• CGI Inc.
• Tech Mahindra Limited
• Sopra Steria Group
• Micro Focus International plc
• Serengeti

Technological Advancement To Facilitate Effective Testing

Companies are focusing on introducing technologically advanced solutions, such as AI-powered testing tools, to enhance testing capabilities and streamline processes.

Example: Cyient’s AI-driven framework, CyFAST, expedites end-to-end test automation across various platforms, ensuring effective testing of intricate systems and software.

Strategic Acquisitions Driving Innovation

Tricentis Acquires Testim

• This acquisition enables Tricentis to strengthen its software testing capabilities by integrating cutting-edge technology from Testim’s portfolio.
• Testim specializes in delivering commercial end-to-end software testing solutions.

Market Segmentation

1. By Type:
   • System Integrator
   • Pureplay Software Testing
2. By Component:
   • Application Testing
   • Services
3. By Application:
   • IT and Telecom
   • BFSI
   • Manufacturing
   • Retail
   • Healthcare
   • Transportation And Logistics
   • Government And Public Sector
   • Consumer Electronics
   • Media

Regional Insights

• North America: The largest region in the software testing market in 2023.
• Asia Pacific: Expected to witness significant growth in the forecast period.

The software testing market is poised for robust growth, driven by technological innovation, increased investment in testing infrastructure, and the growing demand for high-quality software solutions across industries. As organizations continue to prioritize software quality and reliability, the importance of comprehensive testing solutions will only continue to grow.

 

Request A Sample Of The Global Software Testing Market Report 2024:

https://www.thebusinessresearchcompany.com/sample_request?id=15002&type=smp

 

The Software Testing Global Market Report 2024  provides comprehensive insights on the software testing market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the software testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

 

View More Related Reports –

Software As A Service (SaaS) Escrow Services Global Market Report 2024

Software Products Global Market Report 2024

Business Analytics & Enterprise Software Global Market Report 2024

 

Learn More About The Business Research Company
The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

 

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: