Global Testing Software Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth | IBM Corporation, Capgemini SE, Infosys Limited, Cognizant Technology Solutions, Wipro Limited, Hexaware Technologies Limited

Overview and Scope
Testing software refers to the process of confirming and validating whether software or an application is bug-free and satisfies the technical standards established by its design and development. These are software applications used to find errors, bugs, or missing requirements in the software.

Sizing and Forecast
The testing software market size has grown strongly in recent years. It will grow from $52.25 billion in 2023 to $55.98 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%.  The  growth in the historic period can be attributed to strong economic growth in emerging markets, growing digitalization in developing economies and increased adoption of smart consumer products.

The testing software market size is expected to see strong growth in the next few years. It will grow to $76.98 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%.  The growth in the forecast period can be attributed to increased availability of high-end devops solutions, rising utilization of cloud computing, rise in test automation services. Major trends in the forecast period include increased availability of high-end devops solutions, rising utilization of cloud computing, rise in test automation services.

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Segmentation & Regional Insights
The testing software market covered in this report is segmented –
1) By Type: System Integrator, Pureplay Testing Software
2) By Component: Application Testing, Services
3) By End-User: BFSI (Banking, Financial Service and Insurance), IT (Information Technology) And Telecom, Life Sciences And Healthcare, Media And Entertainment, Manufacturing, Energy And Utilities, Retail, Consumer Goods, Other End Users

Sub segments: Functionality Testing, Usability Testing, Performance Testing, Compatibility Testing, Security Testing, Compliance Testing, Automation Testing, Other Testing Types

North America was the largest region in the testing software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the testing software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The surging adoption of smart consumer products is expected to propel the growth of the testing software market going forward. Smart consumer products refer to devices that are connected to the internet, developed for consumers, and can exchange data about themselves, their surroundings, and their users. Automation of software testing is a crucial component of the foundation for smart product online activities. It’s a crucial area that takes a lot of attention from individuals in software testing roles online. For instance, according to Earthweb, a US-based online media company, in 2021, 258.54 million smart homes were there globally in the US, of which 23% of broadband households have three or more smart home appliances. Therefore, the surging adoption of smart consumer products is driving the growth of the testing software market.

Key Industry Players
Major companies operating in the testing software market report are IBM Corporation, Capgemini SE, Infosys Limited, Cognizant Technology Solutions, Wipro Limited,Hexaware Technologies Limited, Accenture plc, DXC Technology Company, HCL Technologies Limited, Qualitest Group, TestScenario, Tata Consultancy Services (TCS), Perfect QA, Smartbear, Konstant Infosolutions, QPSoftware, EGO Creative Innovations, 51Testing, Zunping Network Security Technology Co. LTD, Pactera, Testin Ltd, CentLing Technologies, Southern Code, Innowise Group, QA Wolf, RSK Cyber Security, 10Pearls, QualityLogic, HikeQA, Binmile, Andersen Inc., 9Aqa IT Solutions, QA Mentor, SimbirSoft, Kavichki, Hawking Bros, Aspired, DUNICE, Maxilect, SOFTENQ, Mindful QA, QASource, ScienceSoft, Altoros, Global App Testing, Aspire Systems, Sauce Labs, BugRaptors, Prepona, QA Consultants, Testrig Technologies, Tech Mahindra, Testim.io, TestingXperts Inc, Packetlabs, QualityProTech, iLAB, SoftMine, CyberSec (Pty) Ltd, QoT Solutions, Haefele Software

The testing software market report table of contents includes:
1. Executive Summary
2. Testing Software Market Characteristics
3. Testing Software Market Trends And Strategies
4. Testing Software Market – Macro Economic Scenario
5. Global Testing Software Market Size and Growth
…………..
32. Global Testing Software Market Competitive Benchmarking
33. Global Testing Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Testing Software Market
35. Testing Software Market Future Outlook and Potential Analysis
36. Appendix

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