Software Testing Market 2023 Industry Trends | Growth Dynamics To 2030

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Software Testing Market Revenue To Show
Tremendous Growth Till 2030
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• Industry Insights

• Software Testing Market To Hit USD 70 Bn By 2030.
  The rising demand for autonomous driving systems
  will outline global software testing market
  growth. Electric vehicles (EVs) are seeing a
  major increase in production volume as customers
  are becoming aware of the harmful effects of
  driving fossil-fueled vehicles.
• EVs run on cutting-edge software that gives the
  driver vital information on the performance of
  their vehicle. For example, the motor controller
  is dependent on the embedded software to regulate
  and supervise the functioning of various
  components in an electric car, such as the
  accelerator and battery.

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• Software testing is an integral part of sectors
  that use advanced technologies to carry out their
  daily operations. According to some reports,
  organizations across the U.S. incurred costs
  worth USD 1.56 trillion in 2020 alone due to
  operational software failures, thereby augmenting
  the need for tougher software testing standards.
• The COVID-19 pandemic period witnessed a worrying
  rise in cybersecurity issues, such as virtual
  hacking due to lack of proper software testing or
  poor software quality. As per the European Union
  Agency for Cybersecurity, in 2020, there was a
  47 growth in cyberattacks on healthcare networks
  and hospitals across Europe. This scenario will
  accelerate the need for stringent software
  testing methods to mitigate the risk of losing
  confidential data.
• 1. Pure play software testing offers customized
  solutions
• Pure play software testing market size will
  expand at a notable pace over the coming years.
  The main role of this type of testing is to help
  product developers enhance the performance of
  their programs. Pure play testing will assist
  developers in identifying and solving various
  defects before making their products available
  for public use.

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• Regional Analysis

• Global software testing market revenue from the
  BFSI sector application will increase
  considerably in the future as this industry
  vertical is strengthening its reliance on digital
  technologies. Many banks and financial
  institutions are launching online platforms to
  boost their efficiency and enhance their
  customers banking experience.
• For instance, in June 2022, Canada-based fintech
  organization Nuula declared the launch of its app
  version in the country. The application will
  enable small business owners to keep a real-time
  track of their cashflows, while also alerting
  them of cash shortage beforehand.

• Competitive Analysis

• . Cognizant, CSC, Capgemini, Wipro Limited, Atos
  SE, Infosys Limited, Tricentis, Cigniti

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