Software Testing Services Market to Grow at a CAGR of 12% by 2025: By Product and End-user | Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 - 2025

• Total Pages: 120
• Companies: 10+ – 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.
• Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape
• Segments: Product (application testing and product testing), End-user (BFSI, telecom and media, manufacturing, retail, and others)
• Geographies: APAC (Japan, China, India, and South Korea), Europe (UK, Germany, France, and Italy), North America (US and Canada), and South America

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According to the recent market study by Technavio, the Software Testing Services Market Share in IT Consulting & Other Services Industry is expected to increase by USD 34.49 billion from 2020 to 2025, with an accelerated CAGR of 12%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.

North America will register the highest growth rate of 42% among the other regions. The US and Canada are the key markets for software testing services. Moreover, market growth in North America will be slower than the growth of the market in other regions.

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Vendor Insights-

The software testing services market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Accenture Plc - In May 2019, the company announced the launch of INTIENT, a technology platform that vastly improves the continuity and flow of data across life sciences enterprises. Moreover, in October 2018, the company announced the launch of myConcerto Platform that allows enterprises to innovate, amplify business results, and accelerate their digital transformation.

Capgemini SE - In October 2019, the company announced that it had developed an intelligent data platform called Project Financial and Agricultural Recommendation Models (FARM). The platform uses AI to analyze farming patterns and generate insights from the data to make recommendations.

International Business Machines Corp. - In October 2019, the company announced that it had developed an intelligent data platform called Project Financial and Agricultural Recommendation Models (FARM). The platform uses AI to analyze farming patterns and generate insights from the data to make recommendations.

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Regional Market Outlook

The software testing services market in North America is expected to garner significant business opportunities for the vendors during the forecast period. 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 the South American and APAC regions.

The increasing demand for software development and applications will facilitate the software testing services market growth in North America over the forecast period. 

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Latest Drivers & Trends Driving the Market-

• Software Testing Services Market Driver:
• Increasing adoption of mobile testing:
  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 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.
  
  
• Software Testing Services Market Trend:
• Growing momentum of crowdsourced testing:
  Crowdsourced testing is one of the emerging trends in the software testing space. It refers to the testing services offered by a dispersed community of temporary workers across the world. It offers a significant testing method for the verification of applications in the later stages of software development. Crowdsourced testing offers many benefits, such as scalability, speed, output-based pricing, device coverage, geography coverage, and real-time testing of software.  The popularity of crowdsourced testing has been increasing continuously due to its benefits. During the forecast period, crowdsourced testing will gain more traction, and it is expected that other leading software testing service providers may enter this field through inorganic developments.

Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.

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SOURCE Technavio