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The stress testing market size is projected to increase by USD 4,905.42 million, at a CAGR of 17.53% between 2023 and 2028. The growth rate of the market depends on several factors, including the increasing adoption of mobile devices and applications, the adoption of cloud-based stress testing, and the need to ensure systems handle extreme workloads. Stress testing refers to all non-functional testing software and solutions used by enterprises and developers to test their applications and software products for performance-related factors, such as responsiveness, stability, scalability, reliability, speed, and resource usage. The objective of stress testing is to ensure that enterprise software and applications can seamlessly handle heavy workload scenarios.
The report includes a comprehensive outlook on the Stress Testing Market, offering forecasts for the industry segmented by End-user, which comprises banking, financial services and insurance, IT and telecom, life sciences and healthcare, and others. Additionally, it categorizes Product into application testing and product testing, and covers Regions, including North America, Europe, APAC, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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The adoption of cloud-based stress testing is the key factor driving market growth. Cloud-based stress testing services are on-demand software testing services that are delivered through a cloud-based IT delivery framework. Cloud-based stress testing services are also provided by the market players in the form of testing-as-a-service (TaaS). The TaaS model is gaining traction in the software testing market. TaaS is growing in popularity as it meets the requirements of the evolving IT landscape. It offers output-based testing covering every aspect of the life cycle requirements.
In addition, industries such as telecom, manufacturing, automotive, and BFSI are increasingly shifting to TaaS business models. Moreover, cloud-based stress testing solutions also eliminate delays by overriding the issues of product development and software testing. Cross-functional testing teams can work independently or in sync with product development teams. Hence, increased adoption of cloud-based testing will contribute to the growth of the global stress testing market during the forecast period.
Increasing demand for outsourced testing services is the primary trend shaping market growth. Outsourcing, a strategic business practice, involves delegating tasks to third parties, increasingly integral to cost-cutting strategies for companies prioritizing core competencies and operational efficiency. The burgeoning IT outsourcing market, fueled by a dearth of specialized professionals and constrained budgets, is a prominent trend identified through market trends and analysis. Notably, outsourced testing services are gaining momentum globally, especially among SMEs with limited budgets and IT teams.
In addition, the benefits include a streamlined focus on core functions, access to expert testing professionals, and accelerated software delivery. Furthermore, the emergence of cloud-based testing services has also supported the outsourcing of testing services. The outsourcing of testing services is likely to increase, which boosts the global stress testing market, led by high technology penetration among SMEs during the forecast period.
Cybersecurity concerns in cloud-based testing environment is a challenge that affects market growth. The primary barrier to the adoption of cloud-based services is the security concerns regarding data privacy and information security. Testing services are becoming more complex to ensure the optimum level of security. This is mainly due to the growing number of guidelines, as well as IT security regulations and policies. Rising threats from hackers and the increasing incidences of security breaches in cloud-based services are becoming common.
Consequently, market players should ensure that the testing of cloud infrastructure for SaaS, infrastructure-as-a-service (IaaS), and PaaS has been carried out as per the latest IT security guidelines. Furthermore, different models of cloud computing services should be tested effectively to prevent the sharing of data with unauthorized systems or persons. Hence, cybersecurity issues will impede market growth during the forecast period.
The market share growth by the banking segment will be significant during the forecast period. The rise in the digitization of the core processes in these organizations and the generation of a considerable amount of data across the sector are the main factors that drive the growth of this segment. Firms in this sector have invested heavily in IT solutions and are early adopters of IT trends such as analytics, cloud computing, and virtualization. The rapid transformation in terms of updates in legacy IT infrastructure to implement new and advanced technologies that cater to consumers' needs is one of the key factors that will drive the growth of the banking segment.
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The banking segment showed a gradual increase in the market share of USD 658.31 million in 2018. Moreover, new products and solutions, such as mobile wallets, person-to-person (P2P) transfers, ping pay, and omnichannel banking, are aimed at transforming existing banking infrastructure and services to reach a wide audience. In addition, applications and software used by the banking sector are very complex, as they are developed to offer multiple features and functionalities, such as fund transfers, money deposits, card payments, real-time transactions, and for business operations, to analyze the complex workflow of customers and employees. This, in turn, will drive the segment and global stress testing market during the forecast period.
The application testing segment accounted for the largest revenue share of the market in 2023. Testing tools are used for stress testing and load testing to improve the performance of mobile applications. Market players are increasingly shifting toward cloud-based services to deal with IT infrastructure issues, such as data acquisition and lack of data storage architecture. Testing in the cloud environment enables the provision of on-demand testing services, which allows testing teams to handle critical projects in a short period. Major market players are adopting cloud-based testing services to reduce testing time and provide high-quality delivery of mobile applications. The growing demand for mobile applications is increasing the need for mobile testing services. An increase in the adoption of mobile applications is one of the main reasons underlying the growth of the global stress testing market. With the adoption of cloud computing, application testing services are available as on-demand services, which will lead to global stress testing market growth during the forecast period.
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North America is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America holds a major share in the global stress testing market. Organizations in the region are early adopters of new technologies, such as AI, IoT, cloud, and analytics. Well-developed cloud infrastructure is the driving force behind rapid digital transformation in North America. Furthermore, the stress testing market in North America is driven by a surge in applications introduced by enterprises to support digitalization, increasing the traction of development and operations (DevOps), and the emergence of AI for testing.
Moreover, in North America, the US accounted for the major share of the stress testing market in 2023. In the US, most companies have deployed IT solutions for critical business functions. Stress testing enables companies to determine the load and stress their business applications can handle. Besides, in North America, the stress testing market in Canada is likely to grow at a high rate. The retail, BFSI, manufacturing, healthcare, and government sectors in the country have been going through a digital transformation phase. Hence, such factors are expected to drive market growth in this region during the forecast period.
Stress Testing Market forecasts include the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their stress testing market growth analysis
Global Stress Testing Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The Stress Testing Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Stress Testing Market market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The stress testing market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends from 2018-2028
Stress Testing Market Scope |
|
Report Coverage |
Details |
Page number |
179 |
Base year |
2023 |
Historic period |
2018-2022 |
Market forecasting period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 17.53% |
Market Growth 2024-2028 |
USD 4,905.42 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
15.61 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 31% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accenture Plc, Akamai Technologies Inc., Capgemini Service SAS, Cigniti Technologies Ltd., DIGITAL HEARTS HOLDINGS Co. Ltd., Dotcom Monitor Inc., HCL Technologies Ltd., Infosys Ltd., International Business Machines Corp., Microsoft Corp., Open Text Corp., Oracle Corp., PFLB Inc., RadView Software Ltd., SmartBear Software Inc., Stimulus Technology, Tata Consultancy Services Ltd., Wipro Ltd., XB Software, and Tricentis GmbH |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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