Global Software Testing Services Market, Forecast to 2024

Diversification of Business Models and the Rise of Intelligent Test Automation are Set to Double the Market Size Over the Forecast Period

This research service analyzes the global software testing services market in detail for the period covering 2015 to 2024, with 2018 as the base year. It examines testing services offered to clients across a number of end-user verticals and provides a competitive analysis of the global market participants, including their market shares. Regional analyses are provided for North America, Europe, Middle East and Africa (EMEA), Asia-Pacific (APAC), and Latin America (LATAM).

This study also includes a dedicated chapter on the Indian market. This research examines key growth drivers, restraints, and end-user verticals in each region, and provides forecasts for each end-user vertical. It also highlights future growth opportunities and the strategic imperatives that need to be undertaken by market participants in order to capitalize on these growth opportunities. Further, it also includes a CEO's 360 degree perspective.

Research Highlights
In this research service, analysts examine the combination of application testing and product testing services offered to clients in the following end-user verticals:

• Banking, Financial Services, and Insurance (BFSI)
• IT and Telecom
• Lifesciences and Healthcare
• Manufacturing
• Energy and Utilities
• Retail, consumer goods, and logistics
• Others (public sector, transport, travel and hospitality, e-learning, and gaming)

The global software testing services market has been consistently posting double-digit growth and will continue to do so over the forecast period, as end-user demand for specialized testing services continues to rise. While the appeal of traditional testing services is on the decline, the rapid pace of technological advancement and evolving business needs necessitate the use of specialized testing services, especially against the backdrop of digital transformation that is evident across a number of end-user verticals. The evolution of traditional business models to pay-as-you-use business models enhances the appeal of testing services to end users, particularly those with sporadic or seasonal testing needs. With flexibility in pricing, and end-to-end customization offered by testing vendors, a new wave of growth in the software testing services market is evident. Within the ambit of application testing, security testing is another service that is growing by leaps and bounds.

With strong double-digit growth expected owing to the shift left philosophy adopted by testing vendors and end users alike, these services are no longer viewed as a premium offering and are considered essential aspects in the software development lifecycle. With artificial intelligence (AI)-based solutions poised to capture the market owing to their ability to use predictive analytics to reduce testing times and efforts, the software testing services market is expected to more than double in size over the forecast period.