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 has the potential to grow by USD 34.49 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 12.39%.

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 2020?

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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. To unlock information on the key market drivers and the COVID-19 pandemic impact on the software testing services market industry get your FREE report sample now.

  • Mobile applications have become an indispensable part of most business entities. 
  • They serve many purposes, such as easy interaction with customers, promotion of new products and services, and enhancing customer satisfaction. 
  • Mobile testing has evolved to ensure the quality of an enterprise’s products or services
  • It comprises the redressal of mobile woes and enables the enterprise to test for and prevent any type of failure in the program. 
  • Mobile testing involves the install/uninstall testing, screen orientation testing, gesture testing, device compatibility testing, connectivity testing, and UI/UX testing.
  • The growing demand for mobile testing is expected to boost the growth of the global software testing services market during the forecast period.
  • The availability of cloud-based software testing services is expected to drive the growth of the global software testing services market. 
  • Cloud-based software testing refers to performing testing and measurement activities in a virtual environment by leveraging cloud technology.
  • These services use a combination of various cloud computing models, such as infrastructure as a service (IaaS), platform as a service (PaaS), and SaaS. 
  • With cloud-based testing services, companies can easily create a customer environment and find any abnormalities early in the software development lifecycle (SDLC). 
  • Vendors are increasingly focusing on cloud-based testing services due to their benefits and high demand from small and medium enterprises (SMEs).
  • Therefore, the growing adoption of cloud-based software testing services will drive the global software testing services market during the forecast period.

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. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

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 software testing services market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

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?

Software-Testing-Services-Market-Market-Share-by-Region-2019-2024

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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. Market growth in this region will be slower than the growth of the market in APAC and South America.

The growing popularity of crowdsourced testing will facilitate the software testing services market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

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

Software-Testing-Services-Market-Market-Share-by-End-2019-2024

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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 BFSI segment in the market. However, the market segment will record a slow growth rate during the forecast period.

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

 

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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 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

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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.

INFORMATION 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

DATA 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

REPORT 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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