DUBLIN--(BUSINESS WIRE)--The "Global Application Testing Services Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global application testing services market was valued at US$37.201 billion in 2019.
Increasing adoption of mobile applications, web applications, and software is encouraging companies to invest in integrating advanced technologies such as artificial intelligence (AI) and machine learning in order to provide high-quality software and applications. Since these technologies help to collect and analyze data to perform testing services, the demand for application testing services, backed by AI and machine learning, is increasing to improve accuracy and predict failure points, thus positively impacting the overall market growth.
Growing adoption of automation across various industries is increasing the demand for test automation services which, in turn, is bolstering the market growth of application testing services. The growing volume of big data is also a contributing factor to the growth of the application testing services market as a large volume of data helps in testing and verification.
However, security concerns associated with the successful running of applications is currently hindering the application testing services market to reach its full potential. In the past few years, there has been a steady rise in the number of cases of cyber-attacks through web applications which has made security a major concern for application testing service providers.
Application Testing Services market is segmented by testing type, service type, delivery model, enterprise size, industry vertical, and geography. By testing type, the global application testing services market is segmented into functionality testing, security testing, performance testing, compliance testing, and others. The market is also segmented by service type as professional services and managed services. The global application testing services market is segmented by delivery model as onshore, offshore, nearshore, and hybrid. By enterprise size, the market is segmented as small, medium, and large. The global application testing services is also bifurcated by industry vertical as BFSI, IT and Telecom, healthcare, retail, media and entertainment, logistics and transportation, government, and others.
IT and Telecom sector projected to witness substantial market growth
By industry vertical, the IT and telecom sector will grow at a noteworthy CAGR during the forecast period. Large telecom service providers are increasingly demanding application testing services to reduce application development and maintenance costs while enhancing application performance by streaming it's quality assurance and testing processes. BFSI sector will also witness a good market growth in order to ensure seamless services to its customers while simplifying the application portfolio. Increasing the use of mobile and online banking applications is significantly boosting the demand for application testing services across this sector in order to reduce the risk of migration and ensuring error-free applications.
North America holds significant market share throughout the forecast period
Geographically, the Application Testing Services market is segmented as North America, South America, Europe, Middle East, and Africa (MEA), and Asia Pacific (APAC). North America accounted for the major market share in 2019 and will remain at its position until the end of the forecast period. Early adoption of new advanced technologies and the presence of major market players in the region supports the growth of this regional market. Strict regulations regarding quality check and inspection in North American countries drives the demand for application testing services across various end-use industries. As such, growing industries such as retail, healthcare, and telecom and IT in countries like the U.S. and Canada is bolstering the overall growth of the regional market.
APAC application testing services market will experience a significant CAGR during the forecast period. Growing adoption of digitalization across various industries is boosting the demand for application testing services in order to run the production process smoothly as these services help improve the functionality, performance, usability, and consistency of various applications. APAC application testing services market will witness a noteworthy CAGR during the forecast period owing to the increasing investments across industries, especially BFSI and retail, in digitalization and using various applications in order to run the operation smoothly and efficiently.
Prominent key market players in the Application Testing Services market include Amazon Web Services, Inc., IBM, Capgemini, Cognizant Technology Solutions, Accenture, Tata Consultancy Services Limited, Infosys Limited, Xoriant Corporation, Wipro, and HCL Technologies Limited. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the Application Testing Services market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
Key Topics Covered
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Application Testing Services Market Analysis, By Testing Type
5.2. Functionality Testing
5.3. Security Testing
5.4. Performance Testing
5.5. Compliance Testing
6. Application Testing Services Market Analysis, By Service Type
6.2. Professional Services
6.3. Managed Services
7. Application Testing Services Market Analysis, By Delivery Model
8. Application Testing Services Market Analysis, By Enterprise Size
9. Application Testing Services Market Analysis, By Industry Vertical
9.3. IT and Telecom
9.6. Media and Entertainment
9.7. Logistics and Transportation
10. Application Testing Services Market Analysis, By Geography
10.2. North America
10.2.1. North America Application Testing Services Market, By Service Type, 2019 to 2025
10.2.2. North America Application Testing Services Market, By Delivery Model, 2019 to 2025
10.2.3. North America Application Testing Services Market, By Enterprise Size, 2019 to 2025
10.2.4. North America Application Testing Services Market, By Industry Vertical, 2019 to 2025
10.2.5. By Country
10.3. South America
10.5. Middle East & Africa
11. Competitive Environment and Analysis
11.1. Major Players and Strategy Analysis
11.2. Emerging Players and Market Lucrativeness
11.3. Mergers, Acquisitions, Agreements, and Collaborations
11.4. Vendor Competitiveness Matrix
12. Company Profiles
12.1. Amazon Web Services, Inc.
12.4. Cognizant Technology Solutions
12.6. Tata Consultancy Services Limited
12.7. Infosys Limited
12.8. Xoriant Corporation
12.10. HCL Technologies Limited
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