- Published: June 2012
- Region: Global
Global Software Testing Services Market in BFSI Sector 2012-2016
- Published: August 2013
- Region: Global
- 63 pages
The analysts forecast the Global Software Testing Services market in BFSI sector to grow at a CAGR of 6.91 percent over the period 2012-2016. One of the key factors contributing to this market growth is the need to reduce operational time and cost. The Global Software Testing Services market in BFSI sector has also been witnessing a shift from on-premise software testing to cloud-based software testing. However, lack of data control in outsourced services could pose a challenge to the growth of this market.
The report, the Global Software Testing Services Market in BFSI sector 2012-2016, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market in the Americas and the EMEA and APAC regions; it also covers the landscape of the Global Software Testing Services market in BFSI sector and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
The key vendors dominating this space include Accenture plc, Capgemini SA, IBM Corp., and Wipro Ltd.
The other vendors mentioned in this report are Cognizant Technology Solutions Corp., Computer Sciences Corp., Groupe Steria SA, HCL Technologies Ltd., Hewlett-Packard Co., Hexaware Technologies, Infosys Ltd., ITC Infotech India Ltd., Logica plc, Micro Focus International plc, Software Quality Systems AG, TCS Ltd., Tech Mahindra Ltd., Thinksoft Global Services Ltd., and UST Global.
Key questions answered in this report:
- What will the market size be in 2016 and what will be the growth rate?
- What are key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by key vendors?
- What are the strengths and weaknesses of each of these key vendors?
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01. Executive Summary
02. Scope of the Report
02.1 Market Overview
02.2 Product Offerings
03. Market Research Methodology
03.1 Market Research Process
03.2 Research Design
03.3 Research Methodology
04. List of Abbreviations
06. Software Testing Lifecycle
07. Market Landscape
07.1 Market Overview
07.2 Market Size and Forecast
07.3 Five Forces Analysis
08. Market Segmentation
08.1 Global Software Testing Services in BFSI Sector Market Segmentation
08.2 Outsourced Software Testing Services in BFSI Sector - Market Size and Forecast
08.3 In-house Software Testing Services in BFSI Sector - Market Size and Forecast
08.4 Standalone versus Embedded Software Testing Services
09. Market Segmentation by Application
09.1 Stand-alone Software Testing Services in BFSI Sector
09.2 Basic Functional Testing - Market Size and Forecast
09.3 Non-functional Testing - Market Size and Forecast
09.4 Consulting and Project Management - Market Size and Forecast
09.5 New Offerings - Market Size and Forecast
10. Geographical Segmentation
11. Key Leading Countries
12. Buying Criteria
13. Market Growth Drivers
14. Drivers and their Impact
15. Market Challenges
16. Impact of Drivers and Challenges
17. Market Trends
18. Trends and their Impact
19. Vendor Landscape
19.1 Market Share Analysis 2012
19.2 Other Prominent Vendors
20. Key Vendor Analysis
20.1 Accenture plc.
20.2 Capgemini SA
20.3 IBM Corp.
20.4 Wipro Ltd.
21. Other Reports in this Series
List of Exhibits
Exhibit 1: Market Research Methodology
Exhibit 2: Software Testing Lifecycle
Exhibit 3: Market Overview of Global Software Testing Services Market in BFSI Sector
Exhibit 4: Global Software Testing Services Market in BFSI Sector 2012–2016 (US$ billion)
Exhibit 5: Market Segmentation of Global Software Testing Services Market in BFSI Sector 2012
Exhibit 6: Market Segmentation of Global Software Testing Services 2012-2016
Exhibit 7: Outsourced Software Testing Services in BFSI Sector 2012–2016 (US$ billion)
Exhibit 8: In-house Software Testing Services in BFSI Sector 2012–2016 (US$ billion)
Exhibit 9: Standalone Versus Embedded Software Testing Services 2012
Exhibit 10: Stand-alone Software Testing Services in BFSI Sector Market Segmentation 2012
Exhibit 11: Stand-alone Software Testing Services in BFSI Sector Market Segmentation 2012-2016
Exhibit 12: Basic Functional Testing in Stand-alone Software Testing in BFSI sector 2012-2016 (US$ billion)
Exhibit 13: Non-functional Testing in Stand-alone Software Testing in BFSI sector 2012-2016 (US$ billion)
Exhibit 14: Consulting and Project Management in Stand-alone Software Testing in BFSI sector 2012-2016 (US$ billion)
Exhibit 15: New Offerings in Stand-alone Software Testing in BFSI sector 2012-2016 (US$ billion)
Exhibit 16: Global Software Testing Services Market by Geographical Segmentation 2012
Exhibit 17: Global Software Testing Service Market by Vendor Segmentation 2012
Exhibit 18: Business Segmentation of Accenture plc.
Exhibit 19: Business Segmentation of Capgemini SA.
Exhibit 20: Business Segmentation of IBM Corp.
Exhibit 21: Business Segmentation of Wipro Ltd.
Commenting on the report, an analyst from the team said: “The Global Software Testing Services market in the BFSI sector is characterized by a lack of skilled and qualified personnel to meet the Testing industry standards. Therefore, this trend has affected many businesses and their efforts to deploy quality production. The biggest challenge involving this trend is that financial companies are finding it difficult to determine which functions of the software production should be taken care of by in-house personnel and which should be outsourced to third-party service providers. The challenge is aggravated in the case of high-end and specific areas of industrial and specific knowledge. Therefore, responsibilities that are attached to the role of a business analyst are being taken care of by in-house personnel and functions involving testing and quality assurance are being increasingly outsourced to the independent software testing vendors.”
According to the report, one of the main growth drivers is the need to reduce operational time and cost. The market is witnessing increasing demand for testing software from companies because the quality of applications is highly dependent upon testing. Hence, to avoid poor execution, slow test turnaround or excessive costs in the software’s lifecycle, companies are relying more on testing services, thereby increasing the adoption of the outsourced software testing services.
Further, the report states that one of the major inhibitors of the market growth is the lack of control over data. When software testing is outsourced to a third-party service provider, access to production data is required in order to replace it as test data for conducting tests. Therefore, financial firms have limited control over their data as it resides with the service provider, and this raises concerns about the misuse of the data.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
- Accenture plc
- Capgemini SA
- IBM Corp.
- and Wipro Ltd.; Cognizant Technology Solutions Corp.
- Computer Sciences Corp.
- Groupe Steria SA
- HCL Technologies Ltd.
- Hewlett-Packard Co.
- Hexaware Technologies
- Infosys Ltd.
- ITC Infotech India Ltd.
- Logica plc
- Micro Focus International plc
- Software Quality Systems AG
- TCS Ltd.
- Tech Mahindra Ltd.
- Thinksoft Global Services Ltd.
- and UST Global.