BFSI Sector to Dominate the Software Testing Market in Coming Year, says Report
Software testing is to investigate the various components of the system and application software to find fault with the development of high-quality software products. Software testing process follows software testing life cycle (STLC) protocol to check the validity of software products. Software developers have subscribed to software testing tools, solutions and service industries in various categories of software to create high quality software in a limited time.
According to research report, the global software testing market to grow steadily at a CAGR of around 14.4% by 2021.
Faster test service and test automation services are increasing in recent time. Faster test services reference software testing methods and applications for faster development and implementation of software products. The Faster Testing Service provides a framework to effectively check the application and infrastructure.
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Basic checks for cloud-based applications are implemented for quick testing and faster time-to-market for QA. Organizations are using a quick test service to implement new methods for testing services and increasing the quality of cloud infrastructure. Moreover, the pressure of increasing the value of software vendor product and business pricing will further lead to the global software testing market in the coming years.
The application testing segment is one of the rapid growing segments in the software test market, which is important part of the market segment. Application tests include various security features such as application security testing, mobile application testing, functional and non-functional testing, and new offering testing. Further, the growing need for enterprise mobility and mobile applications is also increasing the software testing environment.
In geographical terms, America had the maximum market share in last year and in the next few years there would be market dominance. Banking and telecom sector have contributed a lot to the demand of testing services in this area.
In this market study segments cover are BFSI, Telecom, IT, Media, and Retail. As per analysts it has been estimated that the BFSI sector to dominate the software testing market during the forecast period. The need for enabling customers access to financial services through mobile and the continuous engagement of customers is driving the consumption of software testing tools in this sector.
The market is divided into the following segments based on geography:
The major players cover in the report are Accenture, Capgemini, IBM, Wipro with other prominent vendors such as Atos, CSC Cigniti Technologies, Deloitte, Gallop Solutions, Infosys, NTT DATA, Steria, Tech Mahindra and UST Global.