Overview and Scope
Software testing is the process of evaluating and verifying that a software application or system meets specified requirements and works correctly. It involves executing the software under controlled conditions to identify defects or bugs and ensure that it behaves as expected. The process includes assessing the quality, functionality, and performance of a software product prior to its release.
Sizing and Forecast
The software testing market size has grown strongly in recent years. It will grow from $48.17 billion in 2023 to $52.45 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to accelerated software development lifecycles, emphasis on product innovations, the surge in online transactions and purchases, the adoption of continuous Integration, and the need for automated testing tools to streamline testing processes.
The software testing market size is expected to see strong growth in the next few years. It will grow to $74.8 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to surging usage of mobile-based applications leading to continuous application updates for enhanced user experience, increasing emphasis on extending footprint in the mobile testing space by companies, rising spending by organizations in software development for product safety and data security, expansion of software testing in the BFSI segment due to the growing number of online transactions, and adoption of reliable testing solutions. Major trends in the forecast period include significant rise in the adoption of cloud computing, leading to reduced infrastructure overhead, enhanced testing efficiency, technological advancements, adoption of artificial intelligence, and accelerated delivery of high-quality software products.
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Segmentation & Regional Insights
The software testing market covered in this report is segmented –
1) By Type: System Integrator, Pureplay Software Testing
2) By Component: Application Testing, Services
3) By Application: IT and Telecom, BFSI, Manufacturing, Retail, Healthcare, Transportation And Logistics, Government And Public Sector, Consumer Electronics, Media
North America was the largest region in the software testing market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the software testing 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 continuous adoption of cloud computing is expected to propel the growth of the software testing market going forward. The adoption of cloud computing is increasing due to its cost-effectiveness, scalability, accessibility, innovation opportunities, reliability, security, and environmental sustainability. Software testing in cloud computing ensures that applications meet quality standards, perform reliably, and deliver a seamless user experience in dynamic and distributed cloud environments. For instance, in January 2023, according to the State of DevOps Study by Google Cloud Platform’s DevOps Research and Assessment (DORA) team, a US-based cloud computing service, in 2022, 26% of the population reported using several public clouds, compared to 21% in 2021. Hybrid cloud utilization has also intensified, from 25% to 42.5%. 76% of users reported using the public cloud, encompassing several clouds—up from 56% in 2021. Therefore, the continuous adoption of cloud computing is driving the growth of the software testing market.
Key Industry Players
Major companies operating in the software testing market are Accenture PLC, International Business Machines Corporation (IBM), Fujitsu Limited, Tata Consultancy Services Limited (TCS), Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, HCL Technologies Limited, Atos SE, Wipro Limited, CGI Inc., Tech Mahindra Limited, Sopra Steria Group, Micro Focus International plc, UST Global Inc., Neusoft Corporation, Hexaware Technologies Limited, Cyient Limited, QualiTest Group, Tricentis AG, L&T Technology Services Limited, Cigniti Technologies Limited, Astegic Inc., Serengeti
The software testing market report table of contents includes:
1. Executive Summary
2. Smart Personal Safety And Security Device Market Characteristics
3. Smart Personal Safety And Security Device Market Trends And Strategies
4. Smart Personal Safety And Security Device Market – Macro Economic Scenario
5. Global Smart Personal Safety And Security Device Market Size and Growth
…
32. Global Smart Personal Safety And Security Device Market Competitive Benchmarking
33. Global Smart Personal Safety And Security Device Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Smart Personal Safety And Security Device Market
35. Smart Personal Safety And Security Device Market Future Outlook and Potential Analysis
36. Appendix
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