Global Software Testing Services Market 2019-2023 | 12% CAGR Projection Over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--Nov 15, 2019--
The software testing services market size is expected to post a CAGR of over 12% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global software testing services market 2019-2023. (Graphic: Business Wire)
The growing popularity of test automation services is one of the major reasons for the software testing services market growth. The popularity of test automation services is increasing among enterprises as they reduce the testing turnaround time and enhance the efficiency of testing software. These services comprise of an automated testing technique where the tester uses automation tools to test the software. Test automation services also ensure accuracy and reduce testing costs without compromising on the software quality.
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As per Technavio, the integration of AI and machine learning will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Software Testing Services Market: Integration of AI and Machine Learning
The growing adoption of mobile applications, web applications, and software has encouraged prominent vendors to invest in integrating technologies such as AI and ML to provide high-quality software and applications. The integration of AI and ML allow organizations to collect, and analyze data to perform testing services such as regression testing and performance testing. They are also being used in designing, scripting, and implementation processes to carry out tasks more efficiently and reduce the time taken for testing. As a result, many organizations are adopting software testing services backed with AI and ML to improve accuracy and to predict failure points.
“Other factors such as the increase in adoption of agile testing, and growing momentum of crowdsourced testing will have a significant impact on the growth of the software testing services market value during the forecast period,” says a senior analyst at Technavio.
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Software Testing Services Market: Segmentation Analysis
This market research report segments the software testing services market by product (application testing and product testing), end-users (BFSI, telecom and media, manufacturing, retail, IT, and other end-users), and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. The growth of the software testing services market share in North America can be attributed to several factors such as increasing demand for software development and applications, and the increasing adoption of software and applications in the retail, BFSI, and telecom and media industries.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY DATA MANAGEMENT
SOURCE: Technavio Research
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