Software Testing Services Market Size, Trends, Shares, and Forecast - 2031

MARKET OVERVIEW

Software testing is a process to verify whether the actual software is matching the expected requirements of client or not along with ensuring that the software is free from all the defects. It consists of execution of software components with the help of automated or manual tools for evaluating one or more properties of interest. Such software testing helps the organizations to ensure that their software is reliable, safe, and user friendly. Software testing services market is expected to grow significantly in upcoming years.

MARKET SCOPE

The "Global Software Testing Services Market Analysis to 2031" is a specialized and in-depth study of the technology, media and telecommunication industry with a special focus on the global market trend analysis. The report aims to provide an overview of the software testing services market with detailed market segmentation by component, industry vertical and geography. The report provides key statistics on the market status of the leading software testing services market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on component, the global software testing services market is segmented into application testing and product testing.
  
•   On the basis of industry vertical, the market is segmented into BFSI, IT and telecom, manufacturing, healthcare, retail, airlines and others.
  

MARKET DYNAMICS

Drivers:

•   Increasing use of mobile applications for various purposes.
  
•   Growing adoption of machine learning and artificial intelligence in software testing.
  
•   Growing digitalization in sectors like manufacturing, banking and retail.
  

Restraints

•   Scarcity of skilled professionals.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The software testing services market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the software testing services market in these regions.

IMPACT OF COVID-19 ON SOFTWARE TESTING SERVICES MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Due to travel ban, employees are not able to move to office regularly, hence company has given work from to many of its employees. This requires efficient software which will facilitate smooth working from home. With respect to this scenario, software testing has increased. But due to economic crisis, many small and large enterprises are closed and there are no new start-ups coming up. This has hindered the growth of the software testing services market.

MARKET PLAYERS

The report covers key developments in the software testing services market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from software testing services market are anticipated to lucrative growth opportunities in the future with the rising demand for software testing services in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the software testing services market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Accenture plc
  
•   Atos SE
  
•   Capgemini SE
  
•   Capita plc
  
•   Cognizant Technology Solutions Corp
  
•   DXC Technology Company
  
•   HCL Technologies Limited
  
•   IBM Corporation
  
•   Tata Consultancy Services Limited
  
•   Wipro Limited
  
  

The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Software Testing Services Report Scope