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Software Testing Services Market to Grow at a CAGR of 15.07% | Regional Outlook, Growth Potential, Competitive Market Share & Forecast | Technavio

·11 min read

NEW YORK, June 28, 2022 /PRNewswire/ -- Software Testing Services Market Facts at a Glance-

Technavio has announced its latest market research report titled Software Testing Services Market by Product, Geography, and End-user - Forecast and Analysis 2022-2026
Technavio has announced its latest market research report titled Software Testing Services Market by Product, Geography, and End-user - Forecast and Analysis 2022-2026
  • Total Pages: 120

  • Companies: 10+ – Including Accenture Plc, Atos SE, Capgemini SE, Cognizant Technology Solutions Corp., DXC Technology Co., HCL Technologies Ltd., International Business Machines Corp., Infosys Ltd., Tata Consultancy Services Ltd., and Wipro Ltd. among others.

  • Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape

  • Segments: Product (application testing and product testing), End-user (BFSI, telecom and media, manufacturing, retail, and others)

  • Geographies: APAC (Japan, China, India, and South Korea), Europe (UK, Germany, France, and Italy), North America (US and Canada), and South America

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According to the recent market study by Technavio, the Software Testing Services Market Share in IT Consulting & Other Services Industry is expected to increase by USD 55.76 billion, with a CAGR of 15.07%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenarios, future market trends, market size & estimations, and major investment pockets.

North America will register the highest growth rate of 40% among the other regions. The US and Canada are the key markets for software testing services. Moreover, market growth in North America will be slower than the growth of the market in other regions.

Click here for Sample: for more additional information about the key countries in North America

Vendor Insights-

The software testing services market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Accenture Plc - The company announced the launch of INTENT, a technology platform that vastly improves the continuity and flow of data across life sciences enterprises. Moreover, the company announced the launch of my concerto Platform which allows enterprises to innovate, amplify business results, and accelerate their digital transformation.

Capgemini SE - The company announced that it had developed an intelligent data platform called Project Financial and Agricultural Recommendation Models (FARM). The platform uses AI to analyze farming patterns and generate insights from the data to make recommendations.

International Business Machines Corp. - The company announced that it had developed an intelligent data platform called Project Financial and Agricultural Recommendation Models (FARM). The platform uses AI to analyze farming patterns and generate insights from the data to make recommendations.

Find additional highlights on the vendors and their product offerings. Get Sample Report

Regional Market Outlook

The software testing services market in North America is expected to garner significant business opportunities for the vendors during the forecast period. US and Canada are the key markets for software testing services in North America. Market growth in this region will be slower than the growth of the market in the South American and APAC regions.

The increasing demand for software development and applications will facilitate the software testing services market growth in North America over the forecast period.

Click here for a sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Latest Drivers & Trends Driving the Market-

  • Software Testing Services Market Driver:

Mobile applications have become an indispensable part of most business entities. They serve many purposes, such as easy interaction with customers, promotion of new products and services, and enhancing customer satisfaction. Mobile testing has evolved to ensure the quality of an enterprise's products or services. It comprises the redressal of mobile woes and enables the enterprise to test for and prevent any type of failure in the program.

Mobile testing involves install/uninstall testing, screen orientation testing, gesture testing, device compatibility testing, connectivity testing, and UI/UX testing. The growing demand for mobile testing is expected to boost the growth of the global software testing services market during the forecast period.

  • Software Testing Services Market Trend:

Crowdsourced testing is one of the emerging trends in the software testing space. It refers to the testing services offered by a dispersed community of temporary workers across the world. It offers a significant testing method for the verification of applications in the later stages of software development. Crowdsourced testing offers many benefits, such as scalability, speed, output-based pricing, device coverage, geography coverage, and real-time testing of software.

During the forecast period, crowdsourced testing will gain more traction, and it is expected that other leading software testing service providers may enter this field through inorganic developments.

Find additional information about various other market Drivers & Trends mentioned in our sample report.

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Software Testing Services Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 15.07%

Market growth 2022-2026

$ 55.76 billion

Market structure

Fragmented

YoY growth (%)

13.77

Regional analysis

North America, Europe, APAC, and South America

Performing market contribution

North America at 42%

Key consumer countries

US, UK, Germany, Canada, and China

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Accenture Plc, Atos SE, Capgemini SE, Cognizant Technology Solutions Corp., DXC Technology Co., HCL Technologies Ltd., International Business Machines Corp., Infosys Ltd., Tata Consultancy Services Ltd., and Wipro Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem

  • 2.2 Value chain analysis

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2020

  • 3.4 Market outlook: Forecast for 2020 - 2025

4 Five Forces Analysis

  • 4.1 Five Forces Summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Product

  • 5.1 Market segments

  • 5.2 Comparison by Product

  • 5.3 Application testing - Market size and forecast 2020-2025

  • 5.4 Product testing - Market size and forecast 2020-2025

  • 5.5 Market opportunity by Product

6 Market Segmentation by End-user

  • 6.1 Market segments

  • 6.2 Comparison by End-user

  • 6.3 BFSI - Market size and forecast 2020-2025

  • 6.4 Telecom and media - Market size and forecast 2020-2025

  • 6.5 Manufacturing - Market size and forecast 2020-2025

  • 6.6 Retail - Market size and forecast 2020-2025

  • 6.7 Others - Market size and forecast 2020-2025

  • 6.8 Market opportunity by End-user

7 Customer landscape

  • 7.1 Overview

8 Geographic Landscape

  • 8.1 Geographic segmentation

  • 8.2 Geographic comparison

  • 8.3 North America - Market size and forecast 2020-2025

  • 8.4 Europe - Market size and forecast 2020-2025

  • 8.5 APAC - Market size and forecast 2020-2025

  • 8.6 South America - Market size and forecast 2020-2025

  • 8.7 MEA - Market size and forecast 2020-2025

  • 8.8 Key leading countries

  • 8.9 Market opportunity by geography

9 Drivers, Challenges, and Trends

  • 9.1 Market drivers

  • 9.2 Market challenges

  • 9.3 Market trends

10 Vendor Landscape

  • 10.1 Vendor landscape

  • 10.2 Landscape disruption

11 Vendor Analysis

  • 11.1 Vendors covered

  • 11.2 Market positioning of vendors

  • 11.3 Accenture Plc

  • 11.4 Atos SE

  • 11.5 Capgemini Services SAS

  • 11.6 Cognizant Technology Solutions Corp.

  • 11.7 DXC Technology Co.

  • 11.8 HCL Technologies Ltd.

  • 11.9 Infosys Ltd.

  • 11.10 International Business Machines Corp.

  • 11.11 Tata Consultancy Services Ltd.

  • 11.12 Wipro Ltd.

12 Appendix

  • 12.1 Scope of the report

  • 12.2 Currency conversion rates for US$

  • 12.3 Research methodology

  • 12.4 List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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