January 14, 2020
According to the research report titled ‘Software Testing Market Size By Component (Application Testing, [By Type (Functional and Non-Functional)], Services [Professional and Managed], By Application (IT & Telecom, BFSI, Manufacturing, Retail, Healthcare, Transportation & Logistics, Government), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, the global software testing market is expected to cross USD 60 billion by the year 2026.
Rising integration of machine learning and AI in software testing systems is the main factor driving the software testing market growth. Surging demand for web and mobile applications has increased dependency on AI powered software testing solutions, which enhance accuracy and help in developing high quality software. Moreover, growing demand for cost-effective error detection solutions in IT sector is aiding the expansion of the market.
Based on the application spectrum, healthcare software testing market segment is expected to register substantial growth during the estimated timeframe. Rising adoption of digital health diagnosis has amplified the demand for software testing in healthcare applications, thereby stimulating the industry outlook.
On the other hand, BFSI application segment is witnessing growth owing to growing need to protect software systems used for various banking solutions such as money withdrawal and online transactions.
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As per regional analysis, the report cites that North America holds the largest share of software testing market due to surging need for digital health solutions and high presence of software developers across the region. On the other hand, Asia-Pacific region is registering fastest growth owing to growing online retail business in India and China. Moreover, availability of skilled IT professionals in India has compelled major software companies to invest in the country.
The prominent companies operating in software testing market are Wipro, Tech Mahindra, TCS, SQS, Qualitest, NTT Data, Infosys, IBM, HPE, HCL Tech, CSC, Cognizant, Cigniti, CGI, Capgemini, Atos, Amdocs, and Accenture.
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