LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global software testing market size to grow to USD 55.3 billion by 2021, at a CAGR of more than 14% over the forecast period, according to their latest report.
The research study by Technavio on the global software testing market for 2017-2021 provides detailed industry analysis based on technology (application testing and product testing), end-user (BFSI, telecom, IT, retail, and media), and geography (the Americas, EMEA, and APAC).
|Software testing is a process to validate the different components of system and application software to detect errors in the development of high-quality software products. The Americas constitute the leading regional segment, with major demand creating by the banking and telecom sectors.|
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Technavio analysts highlight the following three factors that are contributing to the growth of the global software testing market:
- Need for cost reduction and faster release of software
- Increase in agile testing services and test automation services
- Industry-specific testing service offerings
Need for cost reduction and faster release of software
“Testing as a service is being widely adopted due to its affordable nature and requires minimum upfront costs. It is an on-demand platform, which can be accessed via the Internet. Similarly, the enterprise as a service solutions enable software developers to build and test software applications faster, and make for a quicker launch of the finished product,” says Amit Sharma, one of the lead analysts at Technavio for IT professional services research.
The increasing adoption of social, mobile, analytics, and cloud (SMAC) technologies in organizations has resulted in the increase in the demand for innovative software applications. IT managers are under pressure to execute the software testing process with software testing tools and enable software developers to create and run software applications efficiently.
Increase in agile testing services and test automation services
Agile testing services are a set of testing methodologies and applications used to hasten the development of software products and implementation of applications. Agile testing services provide a framework to test the applications and infrastructure effectively and efficiently. Organizations are adopting these services to implement new methodologies for testing services and enhance the quality of cloud infrastructure. The market for automated software testing solutions will grow in tandem with the growing pressure on software vendors to provide both product and business value.
Industry-specific testing service offerings
“Vendors who provide customized service offerings with dedicated teams for different verticals are highly preferred by consumers. This not only provides operators with crucial domain expertise but also provide clients with a better quality of service,” says Amit.
The telecom sector is witnessing an increasing number of consumers using location-based service apps for their day-to-day activities. These apps make the day-to-day activities of the consumers more streamlined and hassle-free, encouraging more consumers to adopt these services.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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