Software Testing Market – Cost Concerns and Speedy Development of Programs Drives the Market Growth
Albany, New York, April 17, 2017: The report presents an in-depth analysis of the market with sagacious inputs from industry experts and finds that going forward it will exhibit a robust CAGR of 14.4% from 2017 to 2021.
Software testing entails detecting errors in a software application or program to test its validity. The process usually follows the software testing life cycle (STLC) protocols to test the validity of software products. Software testing tools, solutions, and services are availed by software developers from different industry verticals to design high-quality software within a limited period.
According to the report, the factors driving the global software testing market are the need for reducing cost and faster release of software, rise in agile testing and test automation services, industry specific testing service offerings, and thrust on digitizing various business processes. Countering the growth in the market, on the other hand, is the increasing uptake of test-driven development, dearth of unified environment provisioning, worries over security in a cloud-based testing environment, and network and data isolation problems.
Some of the noticeable trends observed in the market, listed in the report, are rising take-up of crowdsourced testing, popularity of Software testing as a Service, development of software testing labs, rise of virtualized test environments and DevOps, and emergence of cloud IDE.
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Having shed light on the different drivers, restraints, and current trends, the report goes on to segment the global market for software testing based on different parameters. Depending upon end users, for instance, it classifies the market into telecom, retail, information technology, media, and banking, financial services, and insurance (BFSI). Among them, the BFSI segment accounts for maximum market share because of the new trend of mobile banking and conducting different financial transactions online. This has led to the continued thrust on developing different platforms to facilitate those seamlessly.
Geographically, the key segments of the market as per the report are Asia Pacific, Europe, Middle East and Africa, and the Americas. Among them, the Americas hold a leading share in the market on account of the highly advanced banking and telecom sectors that generate maximum demand. Rising consumerization of data services and location-based applications in the telecom sector is a prominent growth driver in the region. Additionally, the soaring uptake of cloud-based services will likely fillip cloud-based testing services, thereby further bolstering the market.
The report studies the size of the market and its prospects going forward. It leverages market-leading analytical tools to understand the prevailing competitive dynamics. To assess the competition in the market, it also profiles some of the key players such as Capgemini, Infosys, Accenture, Tech Mahindra, IBM, Atos, Deloitte, and NTT Data.