Software Testing Services Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
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 2028" 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 2019 to 2028 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.
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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 2019 to 2028 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.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
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Segment Covered
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Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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Country Scope
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1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Software Testing Services Market - By Component
1.3.2 Software Testing Services Market - By Industry Vertical
1.3.3 Software Testing Services Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SOFTWARE TESTING SERVICES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER’S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. SOFTWARE TESTING SERVICES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SOFTWARE TESTING SERVICES MARKET - GLOBAL MARKET ANALYSIS
6.1. SOFTWARE TESTING SERVICES - GLOBAL MARKET OVERVIEW
6.2. SOFTWARE TESTING SERVICES - GLOBAL MARKET AND FORECAST TO 2027
6.3. MARKET POSITIONING/MARKET SHARE
7. SOFTWARE TESTING SERVICES MARKET - REVENUE AND FORECASTS TO 2027 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. APPLICATION TESTING
7.3.1. Overview
7.3.2. Application Testing Market Forecast and Analysis
7.4. PRODUCT TESTING
7.4.1. Overview
7.4.2. Product Testing Market Forecast and Analysis
8. SOFTWARE TESTING SERVICES MARKET - REVENUE AND FORECASTS TO 2027 - INDUSTRY VERTICAL
8.1. OVERVIEW
8.2. INDUSTRY VERTICAL MARKET FORECASTS AND ANALYSIS
8.3. BFSI
8.3.1. Overview
8.3.2. BFSI Market Forecast and Analysis
8.4. IT AND TELECOM
8.4.1. Overview
8.4.2. IT and Telecom Market Forecast and Analysis
8.5. MANUFACTURING
8.5.1. Overview
8.5.2. Manufacturing Market Forecast and Analysis
8.6. HEALTHCARE
8.6.1. Overview
8.6.2. Healthcare Market Forecast and Analysis
8.7. RETAIL
8.7.1. Overview
8.7.2. Retail Market Forecast and Analysis
8.8. AIRLINES
8.8.1. Overview
8.8.2. Airlines Market Forecast and Analysis
8.9. OTHERS
8.9.1. Overview
8.9.2. Others Market Forecast and Analysis
9. SOFTWARE TESTING SERVICES MARKET REVENUE AND FORECASTS TO 2027 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Software Testing Services Market Overview
9.1.2 North America Software Testing Services Market Forecasts and Analysis
9.1.3 North America Software Testing Services Market Forecasts and Analysis - By Component
9.1.4 North America Software Testing Services Market Forecasts and Analysis - By Industry Vertical
9.1.5 North America Software Testing Services Market Forecasts and Analysis - By Countries
9.1.5.1 United States Software Testing Services Market
9.1.5.1.1 United States Software Testing Services Market by Component
9.1.5.1.2 United States Software Testing Services Market by Industry Vertical
9.1.5.2 Canada Software Testing Services Market
9.1.5.2.1 Canada Software Testing Services Market by Component
9.1.5.2.2 Canada Software Testing Services Market by Industry Vertical
9.1.5.3 Mexico Software Testing Services Market
9.1.5.3.1 Mexico Software Testing Services Market by Component
9.1.5.3.2 Mexico Software Testing Services Market by Industry Vertical
9.2. EUROPE
9.2.1 Europe Software Testing Services Market Overview
9.2.2 Europe Software Testing Services Market Forecasts and Analysis
9.2.3 Europe Software Testing Services Market Forecasts and Analysis - By Component
9.2.4 Europe Software Testing Services Market Forecasts and Analysis - By Industry Vertical
9.2.5 Europe Software Testing Services Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Software Testing Services Market
9.2.5.1.1 Germany Software Testing Services Market by Component
9.2.5.1.2 Germany Software Testing Services Market by Industry Vertical
9.2.5.2 France Software Testing Services Market
9.2.5.2.1 France Software Testing Services Market by Component
9.2.5.2.2 France Software Testing Services Market by Industry Vertical
9.2.5.3 Italy Software Testing Services Market
9.2.5.3.1 Italy Software Testing Services Market by Component
9.2.5.3.2 Italy Software Testing Services Market by Industry Vertical
9.2.5.4 United Kingdom Software Testing Services Market
9.2.5.4.1 United Kingdom Software Testing Services Market by Component
9.2.5.4.2 United Kingdom Software Testing Services Market by Industry Vertical
9.2.5.5 Russia Software Testing Services Market
9.2.5.5.1 Russia Software Testing Services Market by Component
9.2.5.5.2 Russia Software Testing Services Market by Industry Vertical
9.2.5.6 Rest of Europe Software Testing Services Market
9.2.5.6.1 Rest of Europe Software Testing Services Market by Component
9.2.5.6.2 Rest of Europe Software Testing Services Market by Industry Vertical
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Software Testing Services Market Overview
9.3.2 Asia-Pacific Software Testing Services Market Forecasts and Analysis
9.3.3 Asia-Pacific Software Testing Services Market Forecasts and Analysis - By Component
9.3.4 Asia-Pacific Software Testing Services Market Forecasts and Analysis - By Industry Vertical
9.3.5 Asia-Pacific Software Testing Services Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Software Testing Services Market
9.3.5.1.1 Australia Software Testing Services Market by Component
9.3.5.1.2 Australia Software Testing Services Market by Industry Vertical
9.3.5.2 China Software Testing Services Market
9.3.5.2.1 China Software Testing Services Market by Component
9.3.5.2.2 China Software Testing Services Market by Industry Vertical
9.3.5.3 India Software Testing Services Market
9.3.5.3.1 India Software Testing Services Market by Component
9.3.5.3.2 India Software Testing Services Market by Industry Vertical
9.3.5.4 Japan Software Testing Services Market
9.3.5.4.1 Japan Software Testing Services Market by Component
9.3.5.4.2 Japan Software Testing Services Market by Industry Vertical
9.3.5.5 South Korea Software Testing Services Market
9.3.5.5.1 South Korea Software Testing Services Market by Component
9.3.5.5.2 South Korea Software Testing Services Market by Industry Vertical
9.3.5.6 Rest of Asia-Pacific Software Testing Services Market
9.3.5.6.1 Rest of Asia-Pacific Software Testing Services Market by Component
9.3.5.6.2 Rest of Asia-Pacific Software Testing Services Market by Industry Vertical
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Software Testing Services Market Overview
9.4.2 Middle East and Africa Software Testing Services Market Forecasts and Analysis
9.4.3 Middle East and Africa Software Testing Services Market Forecasts and Analysis - By Component
9.4.4 Middle East and Africa Software Testing Services Market Forecasts and Analysis - By Industry Vertical
9.4.5 Middle East and Africa Software Testing Services Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Software Testing Services Market
9.4.5.1.1 South Africa Software Testing Services Market by Component
9.4.5.1.2 South Africa Software Testing Services Market by Industry Vertical
9.4.5.2 Saudi Arabia Software Testing Services Market
9.4.5.2.1 Saudi Arabia Software Testing Services Market by Component
9.4.5.2.2 Saudi Arabia Software Testing Services Market by Industry Vertical
9.4.5.3 U.A.E Software Testing Services Market
9.4.5.3.1 U.A.E Software Testing Services Market by Component
9.4.5.3.2 U.A.E Software Testing Services Market by Industry Vertical
9.4.5.4 Rest of Middle East and Africa Software Testing Services Market
9.4.5.4.1 Rest of Middle East and Africa Software Testing Services Market by Component
9.4.5.4.2 Rest of Middle East and Africa Software Testing Services Market by Industry Vertical
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Software Testing Services Market Overview
9.5.2 South and Central America Software Testing Services Market Forecasts and Analysis
9.5.3 South and Central America Software Testing Services Market Forecasts and Analysis - By Component
9.5.4 South and Central America Software Testing Services Market Forecasts and Analysis - By Industry Vertical
9.5.5 South and Central America Software Testing Services Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Software Testing Services Market
9.5.5.1.1 Brazil Software Testing Services Market by Component
9.5.5.1.2 Brazil Software Testing Services Market by Industry Vertical
9.5.5.2 Argentina Software Testing Services Market
9.5.5.2.1 Argentina Software Testing Services Market by Component
9.5.5.2.2 Argentina Software Testing Services Market by Industry Vertical
9.5.5.3 Rest of South and Central America Software Testing Services Market
9.5.5.3.1 Rest of South and Central America Software Testing Services Market by Component
9.5.5.3.2 Rest of South and Central America Software Testing Services Market by Industry Vertical
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SOFTWARE TESTING SERVICES MARKET, KEY COMPANY PROFILES
11.1. ACCENTURE PLC
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ATOS SE
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CAPGEMINI SE
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. CAPITA PLC
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. COGNIZANT TECHNOLOGY SOLUTIONS CORP
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. DXC TECHNOLOGY COMPANY
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. HCL TECHNOLOGIES LIMITED
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. IBM CORPORATION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. TATA CONSULTANCY SERVICES LIMITED
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. WIPRO LIMITED
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Accenture plc
2. Atos SE
3. Capgemini SE
4. Capita plc
5. Cognizant Technology Solutions Corp
6. DXC Technology Company
7. HCL Technologies Limited
8. IBM Corporation
9. Tata Consultancy Services Limited
10. Wipro Limited
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.