LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global pure play software testing services market is expected to reach USD 9.08 billion by 2021, growing at a CAGR of more than 19%.
This research report titled ‘Global Pure Play Software Testing Services Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The digitization of businesses has increased the dependence on software for running business operations. This has pushed more companies to focus on software testing services within the development process. The failure of an application or software product at a crucial point in the process or transaction can lead to significant financial losses amounting to millions as well as the loss of customer goodwill.
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Technavio’s analysts categorize the global pure play software testing services market into five major segments by end user. They are:
- BFSI
- IT
- Telecom
- Retail
- Others
The top three segments based on end-users for the global pure play software testing services market are discussed below:
BSFI
The BFSI sector is increasingly becoming an aggressive digital marketer through mobile channels and this trend will continue during the forecast period. The need for enabling customer access to financial services through mobile devices and the continuous engagement of customers drive the consumption of software testing tools in the BFSI sector.
According to Amrita Choudhury, an industry expert in ITO and BPO from Technavio, “The growing use of smartphones and tablets and the need to transform their distribution channels with digitization encourage banks to direct their focus on multichannel interactions, such as Internet banking, mobile banking, kiosks, and ATMs, to offer a seamless user experience.”
IT
“The IT industry is embracing software testing solutions for the faster development of software products and the release of numerous software in a short span of time. Software quality improvement and enhanced customer services also drive the adoption of application testing solutions across IT industry verticals,” says Amrita.
Telecom
The high adoption of software testing tools in the telecom sector is attributed to changing requirements in the development process to become more agile. Advanced software development tools, such as DevOps, that have the potential to work in highly efficient development and test processes in a production-like environment are preferred over waterfall methods.
The most successful software testing vendors in the telecom sector with an onshore background are those that have understood the importance of selling independent software testing contracts. Selling independent testing contracts is a complex task as it involves many technical aspects.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Inspearit
- Planit Testing
- QualiTest
- Software Quality Systems
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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, re-sellers, and end-users.
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