How Has The Digital Assurance Market Size Evolved Historically?
The digital assurance market has seen considerable growth due to a variety of factors.
• In the last few years, there has been a rapid growth in the size of the digital assurance market. The market is forecasted to expand from $6.45 billion in 2024 to $7.48 billion in 2025, with a compound annual growth rate (CAGR) of 15.9%.
This noteworthy growth during the historical period is mainly due to the need for end-to-end testing for flawless integration, alignment with DevOps, attention towards performance and scalability, an increase in mobile application usage, and the advancement in automation and test scripting.
What Will Be The Digital Assurance Market Size In The Future?
The digital assurance market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the digital assurance market is projected to experience a significant increase in size, growing to a value of $14.9 billion in 2029 with a compound annual growth rate (CAGR) of 18.8%.
Factors contributing to this growth within the forecast period include a focus on resilience and chaos engineering, the rising demand for cognitive testing and predictive analytics, the transition from quality assurance to quality engineering, the integration of IoT and edge computing, as well as increased attention towards performance engineering and global development and testing efforts. Moreover, forecasted trends within this period involve blockchain testing, predictive analytics for testing, transformations to agile and DevOps, AI-driven testing and automated testing, a shift towards left-testing practices, and a strong emphasis on customer experience testing.
What Are The Key Drivers Fueling Growth In The Digital Assurance Market?
The surge in digital alteration efforts amongst IT corporations is expected to boost the digital assurance market. Digital alteration involves the application of digital technology to create new methodologies or modify existing business practices, corporate culture, and customer experiences to meet fluctuating business and market needs. This is being implemented across practically all organizations due to the increasing demand for digitalization. Digital assurance is a quality control process that secures seamless interactions between the various elements of the digital ecosystem and networks, proving to be vitally important for businesses undergoing digital alteration. The World Economic Forum projects that by 2025, digital alteration will contribute an additional $100 trillion to the global economy. Consequently, the increasing imperative of digital alteration efforts by IT firms is fueling the expansion of the digital assurance market.
What Are The Principal Market Segments In The Global Digital Assurance Industry?
The digital assurance market covered in this report is segmented –
1) By Testing Type: Network Testing, Application Programming Interface Testing, Functional Testing, Usability Testing, Security Testing, Performance Testing
2) By Technology: Social media, Mobile, Analytics, Cloud
3) By Vertical: Government and Defense, Manufacturing, Banking, Financial Services, and Insurance (BFSI), Energy and Utilities, IT and Telecommunications, Other Verticals
Subsegments:
1) By Network Testing: Network Performance Testing, Network Security Testing, Network Configuration Testing
2) By Application Programming Interface (API) Testing: Functional API Testing, Load API Testing, Security API Testing
3) By Functional Testing: Smoke Testing, Sanity Testing, Regression Testing, User Acceptance Testing (UAT)
4) By Usability Testing: User Experience (UX) Testing, Accessibility Testing, A Or B Testing
5) By Security Testing: Vulnerability Scanning, Penetration Testing, Security Audits
6) By Performance Testing: Load Testing, Stress Testing, Endurance Testing, Scalability Testing
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Which Emerging Market Trends Are Altering The Digital Assurance Sector?
Technological advancement remains a notable trend in the digital assurance market, with automation and artificial intelligence playing prominent roles in API to boost effectiveness. The use of automation and AI in API testing holds great promise. Integrating intelligence provides a fantastic chance to augment automated testing capabilities better to align with business logic. For example, in 2023, EY Assurance, a UK-based assurance provider, introduced over 25 novel capabilities, which encompass embedded AI technologies, targeting enhanced audit and assurance procedures. The firm also unveiled a global Artificial Intelligence Assurance framework aimed at guiding EY professionals in providing advanced assurance services, particularly concentrating on AI implementation and risk control. These developments aim to boost the robustness and effectiveness of assurance services and aid businesses in their digital transformation journeys.
Who Are the Key Players in the Digital Assurance Market?
Major companies operating in the digital assurance market include:
• Capgemini SE
• DXC Technology Company
• Accenture PLC
• Cognizant Technology Solutions Corporation
• Cigniti Technologies
• Hexaware technologies Ltd.
• The International Business Machines Corporation
• Infosys Limited
• Maveric Systems
• Micro Focus International plc
• Mindtree Limited
• NTT Data Corporation
• Qualitest Group
• SQS Software Quality Systems AG
• Tata Consultancy Services Limited (TCS)
• Tech Mahindra Limited
• Wipro Limited
• Atos SE
• HCL Technologies Limited
• Happiest Minds Technologies Private Limited
• Infostretch Corporation
• Katalon LLC
• Larsen & Toubro Infotech Limited (LTI)
• Mphasis Limited
• Nagarro SE
• Nihilent Limited
• Persistent Systems Limited
• QASource Inc.
• Softura Inc.
• Techwave Consulting Inc.
What are the Regional Insights into the Digital Assurance Market?
North America was the largest region in the digital assurance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital assurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
