Software Testing Market to Hit $70 Bn by 2030, Says Global

Selbyville, Delaware, Aug. 25, 2022 (GLOBE NEWSWIRE) —

The software testing market is estimated to cross valuation of USD 70 billion by 2030, as reported in a research study by Global Market Insights Inc. The rising consumer interest in vehicles will drive the industry trends.

The surging demand for mobile-based applications among consumers, along with the growing need for software applications to design modern customer interfaces, will further increase the uptake of software testing. High implementation costs for automation testing may arise as a key restraining factor. The expanding digital ecosystem of logistics companies has increased the usage of software tools, such as mobile applications and web-based portals & applications, which may stimulate product demand.

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Rising number of companies are providing customized solutions to push pureplay software testing

The pureplay software testing market segment will depict considerable progress by end of 2030. Pureplay outsourced software testing companies operate closely with the internal teams and provide swift development processes due to their flexibility and ability to provide customized solutions, which is a key factor impelling industry expansion .

Professional services sector to observe an appreciable growth

The report identifies that the services segment will showcase considerable demand during 2022-2030. The market growth is attributed to the extensive adoption of professional services by companies as they are capable of operating the strategy, implementation, and testing parts in the product life span. Driven by personalized instructions provided by experts to improve product quality and reduce time-to-market, the services component type was valued at more than USD 17 billion in 2021 and will exhibit remarkable growth over the forthcoming years.

Increasing proliferation for connected devices to push manufacturing application segment growth

The software testing market outlook from manufacturing applications will positive through 2030. The manufacturing industry is expected to exceed a valuation of USD 3.5 billion by 2030 on account of the growing penetration of IoT-connected devices in the manufacturing and process industries. IoT devices for manufacturing require high-end hardware/software testing as these devices need to operate in harsh industrial environments, which will bolster the demand for software testing in these purposes.

Middle East and Africa to emerge as a prominent regional ground

The report cites that the Middle East & Africa software testing market will grow at a CAGR of 3% from 2022-2030. Notable technological advancements across information, communication, and technology sectors will foster the regional statistics. High emphasis of telecom manufacturers and service providers on the automation of telecom software testing will augment business growth. The growing espousal of IoT, robotics, and automation in Latin America will boost the development of smart factories. Soaring use of advanced manufacturing technologies in varied industry verticals is promoting test automation of industrial equipment, which will favor the MEA industry scenario.

Acquisitions to remain a pivotal growth strategy

The competitive landscape of the software testing market is inclusive of CSC, Cognizant, Capgemini, IBM, Wipro Limited, Infosys Limited, Atos SE, Amdocs, Accenture, Cigniti, Tricentis, Eggplant (Keysight Technologies, Inc.), CGI Inc, and Qualitest . These companies engage mainly in product innovation and increasing the reliability of the product to maintain their position in the business landscape.

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Partial chapters of report table of contents (TOC):

Chapter 2 Executive Summary
2.1 Software testing industry 3600 synopsis, 2016 – 2027
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Component trends
2.1.3.1 Application testing trends
2.1.3.2 Service trends
2.1.4 Application trends
Chapter 3 Software Testing Industry Insights
3.1 Introduction
3.2 Industry segmentation
3.3 Impact analysis of corona virus (COVID-19) pandemic on software testing
3.4 Industry ecosystem analysis
3.5 Technology & innovation landscape
3.6 Regulatory landscape
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.2 Industry pitfalls and challenges
3.8 Growth potential analysis
3.9 Porter’s analysis
3.10 PESTEL analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/software-testing-market

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, US, is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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