According to the latest industry research study by Technavio, the global software testing market is expected to grow at a CAGR of almost 14% during the forecast period 2017 to 2021.
This report by Technavio enlists an exhaustive analysis of the global software testing market in terms of revenue and emerging market trends. The report also contains a current analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the end-user
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The top three revenue contributing end-user segments are discussed below:
Software testing market in BSFI sector: The growing need for enabling customers’ access to financial services through mobile and continuous engagement of customers is driving the market for software testing in the BSFI sector. The increasing adoption of smartphones and smart devices for commercial transactions in the banking and financial services market is changing the software requirements in the global market. These software solutions transform the distribution channels with digitization; increases focus on multichannel interactions such as Internet banking, mobile banking, kiosks, and ATMs to offer a seamless user experience.
“The introduction of enterprise application solutions help with the application development tools to develop native apps for digital banking services. These solutions help developers test the mobile applications and online security features from different aspects. Leading banks across the globe are deploying mobile application development platform solutions to enhance mobile applications thereby boosting the demand in the software testing market,” says Amit Sharma, a lead analyst at Technavio for research on IT professional services.
Software testing market in telecom sector: The introduction of advanced software development tools such as DevOps is driving the market for these solutions in the telecom sector. These software systems have the potential to work in highly efficient development and test processes in a production-like environment. Some of the vendors are also offering mobile application developments for operational processes such as reporting and analytics. These solutions will provide best-in-class services that can be achieved through value-added features and functionalities.
Software testing market in IT sector: The development of software products and to release numerous software in a short span of time will increase the adoption of software testing systems in the IT sector. These solutions will help organizations to offer product quality improvements and enhanced customer services. The need for automation of operational processes to automate the routine business processes will encourage IT firms to implement next-generation IT solutions.
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The top vendors operating in the global software testing market are:
- Accenture
- Capgemini
- IBM
- Wipro
The other prominent vendors in the market include Atos, CSC, Cigniti Technologies, Deloitte, Gallop Solutions, Infosys, NTT DATA, Steria, Tech Mahindra, and UST Global.
A more detailed analysis is available in the Technavio report titled, ‘Global Software Testing Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Outsourced Software Testing Market 2016-2020
- Global Software Testing Services Market 2016-2020
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