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

  • Published: Mar 2021
  • Pages: 120
  • SKU: IRTNTR40590
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The software testing services market share should rise by USD 34.49 billion from 2021 to 2025 at a CAGR of 12%.

This software testing services market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this 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). The software testing services 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.

What will the Software Testing Services Market Size be in 2021?

To Unlock the Software Testing Services Market Size for 2021 and Other Important Statistics, Download the Free Report Sample!

Software Testing Services Market: Key Drivers and Trends

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 software testing services market growth, although factors such as the availability of open-source and free testing tools may impede 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 market industry. The holistic analysis of the drivers will help in predicting end goals and refining marketing strategies to gain a competitive edge.

This software testing services 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.

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.

 

The vendor landscape of the software testing services market entails successful business strategies deployed by the vendors. The software testing services market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. 

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.

Download a free sample of the software testing services market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Software Testing Services Market?

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42% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for software testing services in North America. 

The report offers an up-to-date analysis of the geographical composition of the market. North America has been recording significant growth rate and is expected to offer several growth opportunities to market vendors during the forecast period. The report offers an up-to-date analysis of the geographical composition of the market, competitive intelligence, and regional opportunities in store for vendors.

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

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The software testing services market share growth by the BFSI segment has been significant. This report provides insights on the impact of the unprecedented outbreak of COVID-19 on market segments. Through these insights, you can safely deduce transformation patterns in consumer behavior, which is crucial to gauge segment-wise revenue growth during 2021-2025 and embrace technologies to improve business efficiency.

This report provides an accurate prediction of the contribution of all the segments to the growth of the software testing services market size. Furthermore, our analysts have indicated actionable market insights on post COVID-19 impact on each segment, which is crucial to predict change in consumer demand.

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 12%

Market growth 2021-2025

$ 34.49 billion

Market structure

Fragmented

YoY growth (%)

11.92

Regional analysis

North America, Europe, APAC, and South America

Performing market contribution

North America at 42%

Key consumer countries

US, UK, Germany, Canada, and China

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

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 future consumer dynamics, Market condition analysis for 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 Factors 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 share and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the software testing services market 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

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five Forces Summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Application testing - Market size and forecast 2019-2024
  • Product testing - Market size and forecast 2019-2024
  • Market opportunity by Product

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • BFSI - Market size and forecast 2019-2024
  • Telecom and media - Market size and forecast 2019-2024
  • Manufacturing - Market size and forecast 2019-2024
  • Retail - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by End-user

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Volume driver - Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • 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.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • 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
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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
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TechnavioREPORT WRITING

Qualitative

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

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The software testing services market growth will increase by $34.49 billion during 2019-2024.
The software testing services market is expected to grow at a CAGR of 12.39% during 2019-2024.
Technavio has segmented the software testing services market by product (Application testing and Product testing) ,application (Core banking software, Asset and wealth management software, and Other banking software) , and geographic (North America, Europe, APAC, and South America).
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. are a few of the key vendors in the software testing services market.
North America will register the highest growth rate of 41.70% among the other regions. Therefore, the software testing services market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the software testing services market growth are:
  • Increasing adoption of mobile testing
  • Growing focus on smart retail stores
The software testing services market vendors should focus on grabbing business opportunities from the application testing segment as it accounted for the largest market share in the base year.
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