Managed Testing Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The managed testing services market size has grown rapidly in recent years. It will grow from $306.44 billion in 2023 to $349.63 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth in the historic period can be attributed to increased reliance on digital platforms, the complexity of software systems, globalization of businesses, regulatory compliance requirements, cost efficiency pressures, and the need for specialized testing expertise.
The managed testing services market size is expected to see rapid growth in the next few years. It will grow to $601.55 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to the rapid adoption of emerging technologies, heightened focus on cybersecurity, globalization of businesses, demand for continuous integration and delivery, evolving regulatory compliance requirements, and rising need for specialized testing expertise. Major trends in the forecast period include emerging technologies such as artificial intelligence, machine learning, IoT, and blockchain, a surge in the adoption of cloud-based testing platforms, emphasis on security testing, integration of agile and DevOps methodologies into testing processes, a proliferation of automated testing tools and frameworks, growing preference for outcome-based testing models, and the rise of hybrid testing approaches.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Managed Testing Services Market Overview
Market Trends –
Major companies operating in the managed testing services market are focusing on advanced solutions, such as 5G network software security testing solutions, to gain a competitive edge in the market. 5G network security testing entails assessing the strength and durability of 5G networks, encompassing software, hardware, and applications, to discover and address possible weaknesses and risks, thereby safeguarding the integrity and protection of the network infrastructure. For instance, in May 2022, Nokia, a Finland-based telecommunications company, launched an Advanced Security Testing and Research (ASTaR) lab in Texas. It is a first-of-its-kind 5G testing facility in the U.S. focused solely on cybersecurity. ASTaR takes a comprehensive approach to cybersecurity, going beyond individual network elements to examine broader network use and abuse scenarios. This dedicated lab will pioneer cutting-edge tools and methodologies to evaluate the security resilience of 5G networks, including associated software, hardware, and applications. By addressing emerging security threats and collaborating with the cybersecurity community, ASTaR aims to proactively identify and mitigate potential vulnerabilities, reinforcing the integrity of 5G infrastructure.
The managed testing services market covered in this report is segmented –
1) By Delivery Model: Onshore, Offshore, Nearshore, Onsite
2) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
2) By Industry Vertical: Healthcare And Life Sciences, Banking, Financial Services, And Insurance (BFSI), Telecommunications And Information Technology (IT), Retail, Government And Public Sector, Media And Entertainment, Manufacturing, Energy And Utilities, Logistics And Transportation, Other Industry Verticals
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Regional Insights –
North America was the largest region in the managed testing services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the managed testing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the managed testing services market are Accenture plc, International Business Machines Corporation, Tata Consultancy Services Limited, NTT Data Corporation, Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, DXC Technology Company, HCL Technologies Limited, Atos SE, Wipro Limited, CGI Inc., Virtusa Corporation, Tech Mahindra Limited, EPAM Systems Inc., UST Global Inc., Expleo Group, Larsen & Toubro Infotech Limited, Qualitest Group Limited, Hexaware Technologies Limited, Zensar Technologies Limited, TestingXperts Private Limited, Tricentis AG, QASource Inc., ThinkSys Inc., QA Consultants Inc., Testbirds GmbH, Testlio Inc.
Table of Contents
1. Executive Summary
2. Managed Testing Services Characteristics
3. Managed Testing Services Trends And Strategies
4. Managed Testing Services – Macro Economic Scenario
5. Global Managed Testing Services Size and Growth
…..
32. Global Managed Testing Services Competitive Benchmarking
33. Global Managed Testing Services Competitive Dashboard
34. Key Mergers And Acquisitions In The Managed Testing Services
35. Managed Testing Services Future Outlook and Potential Analysis
36. Appendix
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