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Software Testing Services Market by Product, Geography, and End-user - Forecast and Analysis 2021-2025

  • Published: Mar 2022
  • Pages: 160
  • SKU: IRTNTR40590
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The software testing services market share is expected to increase by USD 55.76 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 15.07%. This market report also offers information on several market vendors, including Accenture Plc, Atos SE, Capgemini SE, Cognizant Technology Solutions Corp., DXC Technology Co., HCL Technologies Ltd., International Business Machines Corp., Infosys Ltd., Tata Consultancy Services Ltd., and Wipro Ltd. among others. Furthermore, the market research report extensively covers market segmentation by product (application testing and product testing), end-user (BFSI, telecom and media, manufacturing, retail, and others), and geography (North America, Europe, APAC, and South America).

What will the Software Testing Services Market Size be During the Forecast Period?

Software Testing Services Market Size

Download the Free Report Sample to Unlock the Software Testing Services Market Size for the Forecast Period and Other Important Statistics

 

Software Testing Services Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increasing adoption of mobile testing is notably driving the market growth, although factors such as the availability of open-source and free testing tools may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the software testing services industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Software Testing Services Market Driver

The increasing adoption of mobile testing is one of the key drivers supporting the market growth. Enterprises have been actively moving toward a mobile-first strategy to enhance customer experience. Mobile application technologies have been changing rapidly, and enterprises need to roll out new versions of their applications and software frequently to keep up with the competition. Leading vendors are investing significantly in mobile application testing. Hence, the growing demand for mobile testing is expected to boost the growth of the global software testing service market during the forecast period.

Key Software Testing Services Market Trend

The growing momentum of crowdsourced testing is one of the key market trends that is contributing to the market growth. Crowdsourced testing offers many benefits, such as scalability, speed, output-based pricing, device coverage, geography coverage, and real-time testing of software. The popularity of crowdsourced testing has been increasing continuously due to its benefits. Leading vendors, such as Accenture and Cigniti Technologies, are also entering the crowdsourced testing space by entering partnerships with providers of crowdsourced platforms. During the forecast period, crowdsourced testing will gain more traction. Such factors will propel the market growth during the forecast period.

Key Software Testing Services Market Challenge

The availability of open-source and free testing tools will be a major challenge for the market during the forecast period. Start-ups and SMEs are the primary users of open-source testing tools, owing to their cost constraints. Licensing and installation costs are the major reasons that prevent these companies from opting for proprietary software. Moreover, open-source testing tools can perform different types of software testing, such as functional and non-functional testing. Hence, the increasing adoption of open-source testing tools will have a negative impact on the revenue generation opportunities for software testing vendors and will hinder the growth of the market during the forecast period.

The market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global software testing services market as a part of the global IT consulting and other services market within the global IT services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Who are the Major Software Testing Services Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Accenture Plc
  • Atos SE
  • Capgemini SE
  • Cognizant Technology Solutions Corp.
  • DXC Technology Co.
  • HCL Technologies Ltd.
  • International Business Machines Corp.
  • Infosys Ltd.
  • Tata Consultancy Services Ltd.
  • Wipro Ltd.

 

This statistical study encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as quality, price, service, brand image, distribution, and marketing to compete in the market.

Product Insights and News

  • Accenture - The company offers software testing services that include artificial intelligence, automation, business process outsourcing, cloud, data and analytics, digital commerce, security, and business process outsourcing.
  • Akamai - The company offers software testing services that include app and API security, remote work security, account takeover protection, DDOS protection, edge computing, serverless computing, edge applications, and cloud optimization.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Software Testing Services Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the market includes the following core components:

  • Research and development
  • Developers or manufacturers
  • Sales and distribution
  • End-users

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Software Testing Services Market?

Software Testing Services Market Market segmentation by region

For more insights on the market share of various regions Request for a FREE sample now!

42% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for software testing services in North America. Market growth in this region will be slower than the growth of the market in the South American and APAC regions.

The increasing demand for software development and applications will facilitate the market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic spread widely across North America, especially in the US, in 2020. Moreover, due to COVID-19 in 2020, organizations were closed, resulting in decreased demand for product testing. However, in 2021, the vaccination program began, which led to the normal resumption of activities and the gradual opening of organizations. This will increase the demand for software testing services, and, in turn, it is expected to result in the regional software testing service market growth.

What are the Revenue-generating Product Segments in the Software Testing Services Market?

Software Testing Services Market Segmentation

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The market share growth by the BFSI segment will be significant during the forecast period. BFSI applications and software deal with highly confidential financial data. Any flaws in the banking software may result in huge financial losses. Hence, software testing services are pivotal for this sector. The BFSI sector has been one of the prime targets for hackers globally. Software testing not only enhances the quality of banking applications and software but also safeguards them from cyberattacks. The banking sector needs to perform various types of testing activities, such as security testing, performance testing, database testing, and others, for the seamless working of their applications and software. Thus, these factors will drive the segment growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on post COVID-19 impact on each segment.

 

Software Testing Services Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 15.07%

Market growth 2021-2025

$ 55.76 billion

Market structure

Fragmented

YoY growth (%)

13.77

Regional analysis

North America, Europe, APAC, and South America

Performing market contribution

North America at 40%

Key consumer countries

US, UK, Germany, Canada, and China

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Accenture Plc, Atos SE, Capgemini SE, Cognizant Technology Solutions Corp., DXC Technology Co., HCL Technologies Ltd., International Business Machines Corp., Infosys Ltd., Tata Consultancy Services Ltd., and Wipro Ltd.

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, 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.

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What are the Key Data Covered in this Software Testing Services Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive software testing services market growth during the next five years
  • Precise estimation of the software testing services market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the software testing services industry across North America, Europe, APAC, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of software testing services market vendors

We can help! Our analysts can customize this report to meet your requirements. Speak to Analyst

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value Chain Analysis: Systems software

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five Forces Summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 15: Product - Market share 2020-2025 (%)
    • 5.2 Comparison by Product
      • Exhibit 16: Comparison by Product
    • 5.3 Application testing - Market size and forecast 2020-2025
      • Exhibit 17: Application testing - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 18: Application testing - Year-over-year growth 2020-2025 (%)
    • 5.4 Product testing - Market size and forecast 2020-2025
      • Exhibit 19: Product testing - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 20: Product testing - Year-over-year growth 2020-2025 (%)
    • 5.5 Market opportunity by Product
      • Exhibit 21: Market opportunity by Product

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • 6.2 Comparison by End-user
        • 6.3 BFSI - Market size and forecast 2020-2025
          • Exhibit 24: BFSI - Market size and forecast 2020-2025 ($ billion)
          • Exhibit 25: BFSI - Year-over-year growth 2020-2025 (%)
        • 6.4 Telecom and media - Market size and forecast 2020-2025
          • Exhibit 26: Telecom and media - Market size and forecast 2020-2025 ($ billion)
          • Exhibit 27: Telecom and media - Year-over-year growth 2020-2025 (%)
        • 6.5 Manufacturing - Market size and forecast 2020-2025
          • Exhibit 28: Manufacturing - Market size and forecast 2020-2025 ($ billion)
          • Exhibit 29: Manufacturing - Year-over-year growth 2020-2025 (%)
        • 6.6 Retail - Market size and forecast 2020-2025
          • Exhibit 30: Retail - Market size and forecast 2020-2025 ($ billion)
          • Exhibit 31: Retail - Year-over-year growth 2020-2025 (%)
        • 6.7 Others - Market size and forecast 2020-2025
          • Exhibit 32: Others - Market size and forecast 2020-2025 ($ billion)
          • Exhibit 33: Others - Year-over-year growth 2020-2025 (%)
        • 6.8 Market opportunity by End-user
          • Exhibit 34: Market opportunity by End-user

        7 Customer landscape

        • 7.1 Overview
          • Exhibit 35: Customer landscape

        8 Geographic Landscape

        • 8.1 Geographic segmentation
          • Exhibit 36: Market share by geography 2020-2025 (%)
        • 8.2 Geographic comparison
          • Exhibit 37: Geographic comparison
        • 8.3 North America - Market size and forecast 2020-2025
          • Exhibit 38: North America - Market size and forecast 2020-2025 ($ billion)
          • Exhibit 39: North America - Year-over-year growth 2020-2025 (%)
        • 8.4 Europe - Market size and forecast 2020-2025
          • Exhibit 40: Europe - Market size and forecast 2020-2025 ($ billion)
          • Exhibit 41: Europe - Year-over-year growth 2020-2025 (%)
        • 8.5 APAC - Market size and forecast 2020-2025
          • 8.6 South America - Market size and forecast 2020-2025
            • Exhibit 44: South America - Market size and forecast 2020-2025 ($ billion)
            • Exhibit 45: South America - Year-over-year growth 2020-2025 (%)
          • 8.7 MEA - Market size and forecast 2020-2025
            • Exhibit 46: MEA - Market size and forecast 2020-2025 ($ billion)
            • Exhibit 47: MEA - Year-over-year growth 2020-2025 (%)
          • 8.8 Key leading countries
            • Exhibit 48: Key leading countries
          • 8.9 Market opportunity by geography
            • Exhibit 49: Market opportunity by geography ($ billion)

          9 Drivers, Challenges, and Trends

          • 9.1 Market drivers
            • 9.2 Market challenges
              • Exhibit 50: Impact of drivers and challenges
            • 9.3 Market trends

              10 Vendor Landscape

              • 10.1 Vendor landscape
                • Exhibit 51: Vendor landscape
              • 10.2 Landscape disruption
                • Exhibit 52: Landscape disruption
                • Exhibit 53: Industry risks

              11 Vendor Analysis

              • 11.1 Vendors covered
                • Exhibit 54: Vendors covered
              • 11.2 Market positioning of vendors
                • Exhibit 55: Market positioning of vendors
              • 11.3 Accenture Plc
                • Exhibit 56: Accenture Plc - Overview
                • Exhibit 57: Accenture Plc - Business segments
                • Exhibit 58: Accenture Plc - Key offerings
                • Exhibit 59: Accenture Plc - Segment focus
              • 11.4 Atos SE
                • Exhibit 60: Atos SE - Overview
                • Exhibit 61: Atos SE - Business segments
                • Exhibit 62: Atos SE - Key offerings
                • Exhibit 63: Atos SE - Segment focus
              • 11.5 Capgemini Services SAS
                • Exhibit 64: Capgemini Services SAS - Overview
                • Exhibit 65: Capgemini Services SAS - Business segments
                • Exhibit 66: Capgemini Services SAS - Key offerings
                • Exhibit 67: Capgemini Services SAS - Segment focus
              • 11.6 Cognizant Technology Solutions Corp.
                • Exhibit 68: Cognizant Technology Solutions Corp. - Overview
                • Exhibit 69: Cognizant Technology Solutions Corp. - Business segments
                • Exhibit 70: Cognizant Technology Solutions Corp. - Key offerings
                • Exhibit 71: Cognizant Technology Solutions Corp. - Segment focus
              • 11.7 DXC Technology Co.
                • Exhibit 72: DXC Technology Co. - Overview
                • Exhibit 73: DXC Technology Co. - Product and service
                • Exhibit 74: DXC Technology Co. - Key offerings
              • 11.8 HCL Technologies Ltd.
                • Exhibit 75: HCL Technologies Ltd. - Overview
                • Exhibit 76: HCL Technologies Ltd. - Business segments
                • Exhibit 77: HCL Technologies Ltd. - Key offerings
                • Exhibit 78: HCL Technologies Ltd. - Segment focus
              • 11.9 Infosys Ltd.
                • Exhibit 79: Infosys Ltd. - Overview
                • Exhibit 80: Infosys Ltd. - Business segments
                • Exhibit 81: Infosys Ltd. – Key news
                • Exhibit 82: Infosys Ltd. - Key offerings
                • Exhibit 83: Infosys Ltd. - Segment focus
              • 11.10 International Business Machines Corp.
                • Exhibit 84: International Business Machines Corp. - Overview
                • Exhibit 85: International Business Machines Corp. - Business segments
                • Exhibit 86: International Business Machines Corp. – Key news
                • Exhibit 87: International Business Machines Corp. - Key offerings
                • Exhibit 88: International Business Machines Corp. - Segment focus
              • 11.11 Tata Consultancy Services Ltd.
                • Exhibit 89: Tata Consultancy Services Ltd. - Overview
                • Exhibit 90: Tata Consultancy Services Ltd. - Business segments
                • Exhibit 91: Tata Consultancy Services Ltd. – Key news
                • Exhibit 92: Tata Consultancy Services Ltd. - Key offerings
                • Exhibit 93: Tata Consultancy Services Ltd. - Segment focus
              • 11.12 Wipro Ltd.
                • Exhibit 94: Wipro Ltd. - Overview
                • Exhibit 95: Wipro Ltd. - Business segments
                • Exhibit 96: Wipro Ltd. – Key news
                • Exhibit 97: Wipro Ltd. - Key offerings
                • Exhibit 98: Wipro Ltd. - Segment focus

              12 Appendix

              • 12.1 Scope of the report
                • 12.2 Currency conversion rates for US$
                  • Exhibit 99: Currency conversion rates for US$
                • 12.3 Research methodology
                  • Exhibit 100: Research Methodology
                  • Exhibit 101: Validation techniques employed for market sizing
                  • Exhibit 102: Information sources
                • 12.4 List of abbreviations
                  • Exhibit 103: List of abbreviations

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
                Interested in this report?
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                Software Market market growth will increase by $55.76 billion during 2022-2026.
                The software market market is expected to grow at a CAGR of 15.07% during 2022-2026.
                Technavio has segmented the software market market by end-user (BFSI, Telecom and media, Manufacturing, Retail, and Others) ,product (Application testing, Product testing, and Other banking software) , and geographic (North America, Europe, APAC, South America, and Middle East and Africa).
                Accenture Plc, Atos SE, Capgemini Services SAS, Cognizant Technology Solutions Corp., DXC Technology Co., HCL Technologies Ltd., Infosys Ltd., International Business Machines Corp., Tata Consultancy Services Ltd., Wipro Ltd. are a few of the key vendors in the software market market.
                North America will register the highest growth rate of 40% among the other regions. Therefore, the software market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the software market market growth are:
                • increasing adoption of mobile testing
                • The growing momentum of crowdsourced testing
                The software market market vendors should focus on grabbing business opportunities from the bfsi segment as it accounted for the largest market share in the base year.
                • What are the key global market and the regional market share?
                • What are the revenue-generating key market segments?
                • What are the key factors driving and challenging this market’s growth?
                • Who are the key market vendors and their growth strategies?
                • What are the latest trends influencing the growth of this market?
                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?
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                • Covid-19 impact and recovery analysis
                • Data on revenue-generating market segments
                • Details on the market shares of various regions
                • Five-force market analysis

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