Software Testing Market 2023-2032; Growth Forecast & Industry Share Report

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Software Testing Market 2023-2032 Growth
Forecast Industry Share Report
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• Industry Insights

• Global Software Testing Market is slated to
  observe considerable gains through 2032, owing to
  the surging focus of government authorities and
  OEMs on autonomous driving technology. The
  growing development of autonomous vehicles has
  increased the focus of software testing service
  providers on developing advanced computing
  chipsets and high-end software equipped with
  automation technologies for the vehicle's
  superior performance.
• Based on components, the software testing
  industry from the services segment is expected to
  grow at a substantial CAGR from 2023 to 2032,
  owing to the growing focus of companies on
  enhancing their professional services. Citing an
  instance, in January 2022, NTT DATA Business
  Solutions, a leading IT service management firm,
  inked a deal with Tricentis, an Austrian software
  firm, to offer the benefits of advanced test
  automation services to its clients. The new deal
  makes NTT DATA Business Solutions Nordic a
  re-seller and implementation partner of the
  Tricentis platform.

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• Based on type, the software testing industry from
  the pureplay software testing segment is slated
  to record a valuation of more than USD 30 billion
  by 2032, on account of the growing demand for
  customized software testing services. Pureplay
  software testing involves developing products to
  cater to a specific industry and marketing them
  over the Internet for clients. Moreover, it
  minimizes the company's expenses and offers great
  flexibility by tailoring the solutions to the
  client's needs.
• In terms of application, the software testing
  industry from the healthcare segment is
  anticipated to accrue lucrative gains through
  2032, owing to growing consumer preference for
  digital health services such as wearable medical
  devices, electronic health records, and others.
  As per IBEF, the medical device industry in the
  country is expected to reach USD 50 billion by
  2025. For wearable medical devices, software
  testing helps assess reliability, user
  experience, and safety.

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• Regional Analysis

Europe software testing market is poised to grow
at a considerable CAGR from 2023 to 2032, owing
to the surging adoption of electric vehicles. As
per the International Energy Agency, in 2021,
electric cars made up 17 of the region's
automobile sales. Moreover, software testing is
heavily employed in electric vehicles for the
diagnosis of EV batteries, circuitries, and
thermal systems for the rectification of
unexpected issues before the manufacturing phase.

• Competitive Analysis

• Infosys Limited, LT Technology Services Limited,
  Micro Focus International plc, HCL Technologies
  Limited, International Business Machines (IBM)
  Corp., and Accenture

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