Categories: IT & Communication Technology

Testing Software Market 2024 – Size, Industry Share, Trends And Forecast To 2033 | IBM Corporation, Capgemini SE, Infosys Limited, Cognizant Technology Solutions, Wipro Limited

The Testing Software by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Testing Software, 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.

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.

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The testing software market covered in this report is segmented –
1) Testing Software Market By Type: System Integrator, Pureplay Testing Software
2) Testing Software Market By Component: Application Testing, Services
3) Testing Software Market 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

Top Major Players

IBM Corporation

Capgemini SE

Infosys Limited

Cognizant Technology Solutions

Wipro Limited

Major companies in the testing software market are focusing on product innovations and developing new product solutions to strengthen their position in the market. For example, in October 2022, Datadog, Inc., a US-based monitoring and security platform for cloud applications, launched the Unified End-to-End Testing Platform and the general availability of Datadog Continuous Testing, a new product that helps developers and quality engineers quickly create, manage and run end-to-end tests for their web applications.

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

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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