What Is The Overview Of The Global Software Testing Market?
Software testing is the process of evaluating and verifying that a software application or system meets specified requirements and works correctly. It involves executing the software under controlled conditions to identify defects or bugs and ensure that it behaves as expected. The process includes assessing the quality, functionality, and performance of a software product prior to its release.
Software Testing Global Market Report 2024 provides data on the global software testing market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The software testing market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Software Testing Market Expected To Grow In Size And Annual Rates?
The software testing sector has shown strong growth in recent years, increasing from $48.17 billion in 2023 to $52.45 billion in 2024 at a CAGR of 8.8%. This growth was driven by the acceleration of software development lifecycles, emphasis on product innovation, increased online transactions and purchases, the adoption of continuous integration practices, and a rising need for automated testing tools. Looking forward, the market is expected to expand to $74.8 billion in 2028 at a CAGR of 9.2%. This forecasted growth is attributed to the surge in mobile application usage necessitating regular updates, greater emphasis on mobile testing by companies, increased spending on software development for security, growth in the BFSI sector due to online transactions, and demand for reliable testing solutions. Key trends include adoption of cloud computing to improve efficiency, technological advancements, integration of AI, and faster delivery of high-quality software products.
What Main Forces Are Fueling Expansion In The Software Testing Market?
The continuous expansion of cloud computing is expected to boost the growth of the software testing market. Cloud computing offers cost-effectiveness, scalability, accessibility, and innovation, leading to its increasing adoption. Software testing in the cloud ensures applications meet quality standards, perform reliably, and provide seamless user experiences in dynamic cloud environments. According to a study by Google Cloud Platform in January 2023, 26% of users were utilizing multiple public clouds in 2022, compared to 21% in 2021, with hybrid cloud usage increasing from 25% to 42.5%. Thus, the rise in cloud computing adoption is propelling the software testing market forward.
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What Are The Primary Segments In The Global Software Testing Market?
The software testing market covered in this report is segmented –
1) By Type: System Integrator, Pureplay Software Testing
2) By Component: Application Testing, Services
3) By Application: IT and Telecom, BFSI, Manufacturing, Retail, Healthcare, Transportation And Logistics, Government And Public Sector, Consumer Electronics, Media
Which Key Trends Are Driving Changes In The Software Testing Market?
In the software testing market, companies are introducing technologically advanced solutions like AI-powered software testing tools to gain a competitive advantage. AI-powered testing tools can generate test cases automatically by analyzing requirements, code, and historical data. For instance, in June 2022, Cyient, an India-based global technology solutions company, launched CyFAST, an AI-driven framework for automated system and software testing. CyFAST accelerates end-to-end test automation across various platforms, including web, mobile, desktop, and embedded applications. This platform offers comprehensive test project management, using cognitive intelligence for enhanced test orchestration, risk-based testing, and regulatory compliance documentation.
What Is The Leading Region In The Software Testing Market?
North America was the largest region in the software testing market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the software testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
