Software Testing Market Segmentation Analysis and Forecast to 2030

Description

The global software testing market size is estimated to grow from USD 42.5 billion in 2020 to USD 69.3 billion by 2027, at a CAGR of 8.5from 2021 to 2027The growing adoption of web-based applications for remote working in the software industry is augmenting the demand for AI-based solutions. Various companies integrate these technologies into their software testing tools to ensure software efficiency, fueling the market growth. Major industry players are investing in integrating AI technology to provide high-quality software solutions to clients and improve their market position.

Growing technological developments in artificial intelligence, machine learning, and CI/CD for the IT sector will likely boost industry growth. AI improves the overall test performance by high accuracy, flexibility in the software testing process, and providing enhanced visual validation.

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The growing need for blockchain testing services is fueled by the growing trend for privacy protection and digital security in the cryptocurrency, government, and banking sectors. Enterprises may utilize blockchain testing to verify, validate, encrypt, and decrypt financial transactions at rapid speeds and manage and safeguard user identification.

COVID-19 Impact on the Global Software Testing Market

The COVID-19 pandemic has accelerated software testing solutions in a wide range of industries, including IT, telecom, BFSI, retail, and manufacturing, among others, to achieve shorter delivery times and a better customer experience. Increased acceptance of cloud computing solutions, both cloud software testing and SaaS services, has resulted from lockdowns. The pandemic has had a favorable impact on the market trend toward working from home, resulting in a significant increase in the need for AI-based automated software testing for various remote software applications and IT infrastructure maintenance.

Global Software Testing Market Dynamics

DriversGrowing digitalization in developing economies

Increasing 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 highly dynamic as they constantly update their products & services, necessitating continual testing and development of the mobile apps. Several companies are developing new test frameworks and tools to reduce the time taken to test mobile apps. The increased need for efficient and cost-effective procedures to detect software flaws in IT firms is expected to drive market revenue.

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Scope of the Report

The study categorizes the software testing market based on component, waste type, method, and application at the regional and global levels.

By Component Outlook (Thousand Units, Revenue, 2017-2027, USD Million)

  • Application testing
    • Functional testing
      • System testing
      • Unit testing
      • Integration testing
      • Smoke testing
      • Regression testing
      • Others
    • Non-functional testing
      • Security testing
      • Performance testing
      • Usability testing
      • Others
  • Services
    • Professional
    • Managed

By Application Outlook (Thousand Units, Revenue, 2017-2027, USD Million)

  • IT & Telecom
  • BFSI
  • Manufacturing
  • Retail
  • Healthcare
  • Transportation & logistics
  • Government & public sector
  • Others

By Region Outlook (Thousand Units, Revenue, 2017-2027, USD Million)

  • North America (US, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
  • The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

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Asia Pacific accounts for the highest CAGR during the forecast period

Based on the regions, the global software testing market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & AfricaWorldwide, Asia Pacific is estimated to hold the highest CAGR in the global software testing market during the forecast periodThe region includes the countries such as India, Japan, China, Australia, South Korea, Southeast Asia, and the Rest of Asia-PacificThe region's growth is primarily due to strong economic growth in the domestic emerging countries such as China, Malaysia, Indonesia, and India.

Growing government initiatives and investments to promote digitalization in China, India, and Japan. In March 2021, The South Korean government has announced plans to invest in the country's burgeoning internet retail industry. The coronavirus outbreak is to blame for this expenditure, as shopping habits have evolved toward digital shopping.

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Key Market Players

The software testing market is mildly concentrated in nature with few numbers 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 othersEvery company follows its business strategy to attain the maximum market share.