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Software testing and QA services market Is Estimated To Witness High Growth

Ben Wood
Software testing and QA services market Is Estimated To Witness High Growth

The software testing and QA services market is estimated to be valued at US$ 38.42 billion in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Software testing and QA services help identify issues, errors, and defects in the developed software. They validate the quality and functionality of software applications, platforms, and digital services. QA services cover testing various aspects like security, performance, usability, compatibility, and compliance of software. Companies utilize these services to enhance the overall testing process and develop high-quality software.

Market Dynamics:

Increased digitalization across industries and growing adoption of latest technologies like AI, ML, cloud, IoT are driving the demand for robust, defect-free software. This is promoting extensive testing and QA of various applications and platforms. Additionally, end-use industries like IT, telecom, BFSI, and healthcare are increasingly relying on software and digital services for their business-critical operations. Their rising digital investments are propelling the need for high-quality software development through testing and quality assurance. Growing demand from such end-use verticals is a key factor estimated to fuel the market growth over the forecast period.

SWOT Analysis

Strength: The software testing and QA services market offers strong domain expertise, established delivery models and quality processes. Many providers have extensive experience in serving clients across industries for over a decade. They possess skilled resources with expertise in testing latest technologies like AI, ML, IoT etc.

Weakness: The market faces shortage of skilled testing professionals. Retaining experienced testers is also challenging due to attractive compensation from product companies. Manual testing is time consuming and resource intensive.

Opportunity: There is rising demand from industries like automotive, healthcare, BFSI for testing digital products and platforms. Emerging technologies will fuel the need for specialized testing services.Growing adoption of agile methodology offers scope for test automation services.

Threats: In-house testing teams of clients pose pricing pressure. Some startups offer niche testing services at competitive rates. Economic slowdown can impact budgets for outsourcing.

Key Takeaways

The global software testing and QA services market is expected to witness high growth, exhibiting CAGR of 13% over the forecast period, due to increasing demand for ensuring seamless performance of complex software applications. The market size is projected to reach US$ 38.42 billion in 2023.

The US dominates the global market currently due to presence of major software companies. Asia Pacific region is poised to grow at fastest pace during the projected period owing to growing R&D investments by organizations and shifting development centers to countries like India and China.

Key players operating in the software testing and QA services market are TCS, Wipro, Cognizant, Infosys, IBM, Qualitest, CGI, Mindtree, Cygnet Infotech, Maveric Systems, QA Mentor, A1QA, QA Source, QASource, Capgemini, Accenture, HCL Technologies, Atos, DXC Technology, Tech Mahindra. These companies are focusing on expansion in emerging markets through partnerships and acquisitions to enhance their service offerings and domain expertise.

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Ben Wood
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