Software Testing Market revenue to hit USD 60 Bn by 2026: Global Market Insights, Inc.

North America software testing market will account for majority share during the forecast period owing to majority of software development companies in the region along with flourishing demand for digital health solutions.

Selbyville, Delaware, Dec. 18, 2019 (GLOBE NEWSWIRE) --

According to latest report “Software Testing Market by Component (Application Testing [By Type (Functional and Non-Functional)], Services [Professional and Managed]), Application (IT & Telecom, BFSI, Manufacturing, Retail, Healthcare, Transportation & Logistics, Government & Public), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of software testing will reach $60 billion by 2026. The growing implementation of AI and machine learning in software testing is anticipated to drive the market in the coming years.

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Some major findings of the software testing market report include:

  • Adaptable acceleration in healthcare applications owing to rising consumer demand for digital health diagnosis is projected to drive the demand for software testing. Software testing in healthcare applications will increase the quality of software and enhance the user interface.
  • The rising demand from IT companies for error detection and cost-effectiveness is likely to propel the software testing market demand.
  • The companies in the market are adopting an agile approach in software testing for quick bug removal to deliver high-quality software applications.
  • Growing mobile application development for retail and healthcare industries will augment the market for regression testing.
  • Software testing accounts for the majority of share in BFSI applications as they require a safeguard software system with zero-error detection for various banking services such as online transactions, money withdrawal, etc.
  • Prominent players present in the market include Accenture, Cognizant, IBM, TCS, Infosys, Amdocs, HCL Tech. Wipro, Capgemini, and Atos.

The integration testing holds for majority of the market share. The integration testing is performed after unit testing, where an individual unit is combined and tested in the group. It is majorly performed to expose defects and faults in the interaction among integrated components and units.

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The growing demand for mobile & web applications is propelling the integration of AI into the software testing services to enhance accuracy and offer high-quality software solutions in the market. The companies are coming up with various business strategies to implement AI to boost their service performance and reduce the processing time. For example, in April 2019, Atos announced to open a new AI lab in Paris in a partnership agreement with Google Cloud. This business strategy helps Atos to deliver the best technologies and enhance data processing services using AI.

North America dominates the software testing market owing to majority of software development companies in the region. Also, the flourishing demand for digital health solutions is projected to drive the market. Moreover, the Asia Pacific region is the fastest-growing region due to the mounting online retail business in China and India. Also, the global players in the market are establishing their footprints in India to outsource their software services due to skilled IT professionals in the country

Companies are adopting several development strategies that include acquisitions, collaborations, mergers, and technological innovations to obtain a strong competitive edge from other players. For instance, in April 2018, Eurofins Digital Testing, a global leader in QA and testing services, announced the acquisition of Edge Testing Solution, a software testing provider in the UK. The strategic acquisition will help the company to extend its software testing services such as automated, functional, performance, and managed testing across various sectors.

Browse key industry insights spread across 220 pages with 401 market data tables and 25 figures & charts from the report, “Software Testing Market Size 2019–2026” in detail along with the table of contents:

Table of Contents (ToC) of the report:

Chapter 3.   Software Testing IndustryInsights

3.1.  Industry segmentation

3.2.  Industry landscape, 2015-2026

3.3.  Industry ecosystem analysis

3.4.  Technology & innovation landscape

3.5.  Regulatory landscape

3.5.1. North America

3.5.2. Europe

3.5.3. Asia Pacific

3.5.4. Latin America

3.5.5. MEA

3.6.  Industry impact forces

3.6.1. Growth drivers

3.6.2. Industry pitfalls and challenges

3.7.  Growth potential analysis

3.8.  Porter’s analysis

3.8.1. Industry rivalry

3.8.2. Threat of new entrants

3.8.3. Buyer power

3.8.4. Supplier power

3.8.5. Threat of substitutes

3.9.  Competitive landscape, 2019

3.9.1. Market share analysis, 2019

3.9.2. Strategy dashboard

3.10.      PESTEL analysis

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.


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