The continuous testing market is expected to grow at a CAGR of 15.9%
NEW YORK, May 9, 2018 /PRNewswire/ -- The continuous testing market is expected to grow at a CAGR of 15.9% during the forecast period.
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The continuous testing market size is expected to grow from USD 1.15 billion in 2018 to USD 2.41 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 15.9% during the forecast period. The growing need among organizations across industry verticals for digital transformation of their business processes, the growing need for continuous and timely delivery of software, and DevOps going mainstream are expected to drive the growth of continuous testing market. The major factor that is expected to restrict the growth of continuous testing market is the heavy dependence on traditional approaches and the lack of skilled and experienced test automation professionals.
The professional segment is expected to account for the larger market size during the forecast period.
Professional services have been categorized into implementation, advisory and consulting, support and maintenance, and training and education services.Organizations depend on professional experts to integrate and deploy continuous testing tools for thorough testing to reduce their business risks and ensure the smooth functioning of software.
Professional service providers help integrate continuous testing solutions with existing workflows in enterprises and provide support and training to upgrade and resolve issues over a short period of time, thereby facilitating organizations with faster and timely delivery of their software.
The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period.
The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period.Cost-effectiveness is the important need of SMEs, as they always face constraints in marketing themselves and gaining visibility, due to their limited budgets.
Moreover, SMEs use continuous testing for reducing the time and increasing their efficiency in executing the software development life cycle.Due to budget constraints, SMEs mostly prefer cloud-based solutions over on-premises solutions, and this adoption trend is expected to accelerate in the near future, enabling the cloud deployment type to have a considerable market size during the forecast period.
The SMEs segment has a huge potential to flourish in the continuous testing market during the forecast period.
Asia Pacific (APAC) is expected to witness the highest growth rate during the forecast period.
North America is estimated to account for the largest market share in 2018, while APAC is expected to grow at the highest CAGR during the forecast period.APAC is expected to be a lucrative market for continuous testing during the forecast period, considering the untapped opportunities and increasing commercial investment in different industry verticals in the region.
Multinational companies are expected to emphasize on exploring the APAC market by partnering with local companies, channel partners, and technology partners.Moreover, the increasing adoption of cloud and mobile technologies and the growing trend of outsourcing a few operations to specialist companies have led to the rapid adoption of continuous testing in the APAC countries, such as India, China, and Australia.
This is expected to provide growth opportunities for the continuous testing during the forecast period.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people. The break-up of the profiles of primary participants is given below:
• By Company Type: Tier 1 – 22%, Tier 2 – 41%, and Tier 3 – 37%
• By Designation: C-level – 72%, D-level – 19%, and Others – 9%
• By Region: North America – 64%, Europe – 19%, Asia Pacific – 12%, and RoW – 5%
The major vendors in the continuous testing market include Mindtree (India), EPAM Systems (US), HCL Technologies (India), Atos (France), Tech Mahindra (India), Hexaware (India), Tricentis (Austria), Cigniti (India), Larsen and Toubro Infotech (India), NIIT Technologies (India), CA Technologies (US), IBM (US), Capgemini (France), Spirent Communications (UK), Micro Focus (UK), Syntel (US), Cognizant (US), Parasoft (US), Softcrylic (US), LogiGear (US), QualiTest (US), Testplant (UK), Vector Software (US), QA Mentor (US), and SmartBear Software (US).
Research Coverage
The continuous testing market has been segmented by service, deployment type, organization size, interface, industry vertical, and region. The report is expected to help market leaders/new entrants in this market in the following ways:
The report segments the continuous testing market comprehensively and provides the closest approximations of the revenue numbers for the overall market and its subsegments.The market numbers are further split across different industry verticals and regions.
Moreover, the report splits the market into on-premises and cloud deployment types.
Reasons to Buy the Report
From an insight perspective, this research report focuses on various levels of analysis –market sizing of global market and for subsegments, analysis of the top players and company profiles, which together comprise and discuss basic views on the competitive landscape; emerging and high-growth segments of the continuous testing market; and high-growth regions and their respective drivers, restraints, challenges, and opportunities.
The report is expected to enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn, could help firms in garnering a greater market share.
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