Overview and Scope
AI-enabled testing tools are software solutions that leverage artificial intelligence technologies to automate and optimize the testing of software applications. These tools help improve efficiency, accuracy, and coverage of testing, leading to faster delivery of high-quality software products by utilizing advanced algorithms and data analytics to identify defects, enhance test coverage, and accelerate the software testing process.
Sizing and Forecast
The AI-enabled testing tools market size has grown exponentially in recent years. It will grow from $0.35 billion in 2023 to $0.45 billion in 2024 at a compound annual growth rate (CAGR) of 29.2%. The growth in the historic period can be attributed to growing complexity of software applications and systems, strong focus on quality assurance and testing efficiency, widespread adoption of agile and DevOps practices, increasing awareness about the benefits of AI-enabled testing tools, availability of large volumes of data for testing purposes.
The AI-enabled testing tools market size is expected to see exponential growth in the next few years. It will grow to $1.27 billion in 2028 at a compound annual growth rate (CAGR) of 29.4%. The growth in the forecast period can be attributed to increasing focus on shift-left testing, rising adoption of cloud-based testing solutions, rise in cybersecurity threats, expansion of IoT and edge computing technologies. Major trends in the forecast period include adoption of shift-left testing, adoption of cloud-based testing solutions, adoption of advanced security testing capabilities, integration with intelligent automation platforms, adoption of agile and DevOps practices.
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Segmentation & Regional Insights
The ai enabled testing tools market covered in this report is segmented –
1) By Component: Software, Services
2) By Type: Machine Learning And Pattern Recognition, Natural Language Processing (NLP), Computer Vision And Image Processing
3) By Application: Test Automation, Infrastructure Optimization, Other Applications
4) By End-Use Industry: Healthcare, IT And Telecommunication, Energy And Utilities, Banking, Financial Services, And Insurance(BFSI), Government, Other End Use Industries
Top 5 Major Players:
- Amazon Inc.
- International Business Machines Corporation;
- Oracle Corporation
- Keysight Technologies Inc.
- Open Text Corporation
North America was the largest region in the AI-enabled testing tools market in 2023. The regions covered in the AI enabled testing tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rapid growth of digital transformation is expected to propel the AI-enabled testing tools market going forward. Digital transformation refers to integrating digital technologies into all business operations, fundamentally changing how organizations operate and deliver customer value. The surge in digital transformation can be attributed to changing consumer behaviors, the need for increased efficiency and agility, and the demand for improved customer experiences. Digital transformation creates increased demand for AI-enabled testing tools by necessitating faster and more accurate testing processes to ensure the seamless integration of digital technologies into business operations. For instance, in May 2023, according to the report published by the European Investment Bank, a Luxembourg-based European Union’s long-term finance institution, in 2022, 42% of European firms invested further in digitalization, marking a nine percentage point increase compared to 2021. Moreover, one in two firms in the United States, or 50%, pursued additional investment in digitalization during the same period. Therefore, the rise in digital transformation is driving the growth of the AI-enabled testing tools market.
Key Industry Players
Major companies operating in the AI enabled testing tools market report are Amazon Inc.; International Business Machines Corporation; Oracle Corporation; Keysight Technologies Inc.; Open Text Corporation; Micro Focus International Plc; Cloudera Inc.; Nuro Inc.; Perforce Software Inc.; Tricentis LLC; Indium Software Inc.; QASource Inc.; SenseTime Group Limited; SmartBear Software Inc.; Sauce Labs Inc.; Applitools Ltd.; BugRaptors Solutions Pvt. Ltd.; AccelQ Inc.; Functionize Inc.; Diffblue Ltd.; SeaLights Technologies Ltd.; Mabl Inc.; Vegavid Technology; ReTest GmbH; TestRigor Inc
The ai enabled testing tools market report table of contents includes:
1. Executive Summary
2. AI Enabled Testing Tools Market Characteristics
3. AI Enabled Testing Tools Market Trends And Strategies
4. AI Enabled Testing Tools Market – Macro Economic Scenario
5. Global AI Enabled Testing Tools Market Size and Growth
….
32. Global AI Enabled Testing Tools Market Competitive Benchmarking
33. Global AI Enabled Testing Tools Market Competitive Dashboard
34. Key Mergers And Acquisitions In The AI Enabled Testing Tools Market
35. AI Enabled Testing Tools Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global AI Enabled Testing Tools Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global AI Enabled Testing Tools Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global AI Enabled Testing Tools Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 75: Amazon Inc. Financial Performance
Table 76: International Business Machines Corporation Financial Performance
Table 77: Oracle Corporation Financial Performance
Table 78: Keysight Technologies Inc. Financial Performance
Table 79: Open Text Corporation Financial Performance
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