Software Testing Market Size, 2024-2033; Growth Forecast & Industry Share Report

in softwaretestingmarket •  last year  (edited)

During the projection period of 2024 to 2033, the global software testing market size is expected to expand from USD 47.25 billion to USD 103.5 billion, at a compound annual growth rate of 5.5%.

The software testing market is a thriving and rising subsector of the wider software industry. It encompasses a range of activities and products targeted to ensuring the superiority, effectiveness, and durability of software applications and systems. As software continues to play a critical role in many industries, the demand for dependable and error-free software has grown significantly. This has led to the importance of software testing as a stage in the software development life cycle. The worldwide demand for testing services from companies and service providers illustrates how international the software testing market is. As a result of the adoption of DevOps and Agile methodologies, there is an increased emphasis on continuous testing, where testing occurs throughout the software development process rather than as a separate phase.

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DevOps mostly relies on test automation to make sure that software updates are thoroughly tested before being released. A few examples of test automation tools that are widely accessible and simple to integrate with DevOps workflows include Selenium, Appium, JUnit, TestNG, and Cucumber. DevOps encourages the use of Infrastructure as Code (IaC) tools like Terraform and Ansible, which permit the automated provisioning and configuration of test environments and ensure consistency and repeatability.

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As new tools, technologies, and processes are developed at an accelerated rate, the software industry is always changing. Many occupations may find it challenging to upskill and constantly learn new skills in order to keep up with these advances. Contrary to certain other IT professions, software testing does not always entail official educational programmes or degrees. This would deter individuals from pursuing testing-related careers, which would result in a skill gap.

Insights by Component
By the end of 2033, the market for application testing will have grown to a value of about USD 57.5 billion. The rapid digital change taking place in all industries has increased the demand for application testing services. Organisations are developing and updating digital products, such as online and mobile applications, and they must thoroughly test them to ensure that they work as intended.

Insights by Application
The BFSI segment hold the largest market share over the forecast period 2024 to 2033. Online banking, mobile apps, and customer portals all improve the consumer experience. User interface (UI) testing, usability testing, and performance testing are essential for ensuring that programmes are responsive and intuitive.

Insights by Region
The software testing market in North America is expected to generate USD 46 billion in sales, up to 2033. North America has one of the largest and most diverse markets for software testing. This is due to the requirement for extensive software testing across numerous industries, including banking, healthcare, manufacturing, e-commerce, and technology.

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Asia Pacific is witnessing the fastest market growth between 2024 to 2033. Many APAC countries, including India, China, Japan, South Korea, and Singapore, have adopted rapid technological adoption and digital transformation programmes. As a result, there is a huge need for software testing services.

Table of Contents (TOC) of Report:
Chapter 1. Methodology
• Market Definition
• Study Assumptions
• Market Scope
• Segmentation
• Regions Covered
• Base Estimates
• Forecast Calculations
• Data Sources
• Primary
• Secondary
Chapter 2. Executive Summary

Chapter 3. Software Testing Market Insights
• Market Overview
• Market Drivers & Opportunity
• Market Restrains & Challenges
• Regulatory Landscape
• Ecosystem Analysis
• Technology & Innovation Outlook
• Key Industry Developments
• Partnership
• Merger/Acquisition
• Investment
• Product Launch
• Supply Chain Analysis
• Porter's Five Forces Analysis
• Threat of New Entrants
• Threat of Substitutes
• Industry Rivalry
• Bargaining Power of Suppliers
• Bargaining Power of Buyers
• COVID-19 Impact
• PESTLE Analysis
• Political Landscape
• Economic Landscape
• Social Landscape
• Technology Landscape
• Legal Landscape
• Environmental Landscape
• Competitive Landscape
• Introduction
• Company Market Share
• Competitive Positioning Matrix

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About Fundamental Business Insights:
Fundamental Business Insights is global market research and consulting company which is engaged in providing in depth market reports to its various types of clients like industrial sectors, financial sectors, universities, non-profit, and corporations. Our goal is to offer the correct information to the right stakeholder at the right time, in a format that enables logical and informed decision making.
We have a team of consultants who have experience in offering executive level blueprints of markets and solutions. Our services include syndicated market studies, customized research reports, and consultation.

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