The application testing services market is projected to grow from USD 26.59 billion in 2017 to USD 50.14 billion by 2022
NEW YORK, Oct. 31, 2017 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p05169659
The application testing services market is projected to grow from USD 26.59 billion in 2017 to USD 50.14 billion by 2022, at a CAGR of 13.5% during the forecast period. Factors influencing the growth of the application testing services market are the digital transformation of businesses and increased adoption of automation testing processes in various industries.
"Based on service type, the professional services segment is estimated to lead the application testing services market in 2017"
Based on service type, the professional services segment is estimated to lead the application testing services market in 2017. This growth can be attributed to the increased adoption of professional application testing services that include planning, designing, consulting, and training, in enterprises worldwide.
"Based on delivery model, the offshore segment is estimated to lead the application testing services market in 2017"
Based on delivery model, the offshore segment is estimated to lead the application testing services market in 2017. In offshore application testing, software developers utilize various testing instruments to detect errors, improve the quality of applications, and reduce business risks for clients. The growth of the offshore segment is mainly driven by the increased adoption of offshore delivery model in enterprises to reduce costs associated with testing processes.
"Based on vertical, the BFSI segment is estimated to lead the application testing services market in 2017"
Based on vertical, the BFSI segment is estimated to lead the application testing services market in 2017. The increased adoption of application testing services in the BFSI sector can be attributed to the benefits of application testing services that include mitigating risks associated with data breach and ensuring that banking activities are executed in a safe manner.
"The application testing services market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period"
Based on region, the application testing services market has been segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. The application testing services market in the Asia Pacific region is projected to grow at the highest CAGR from 2017 to 2022. The high adoption rate of digital technologies, especially in Australia, India, China, Japan, and Singapore, has made Asia Pacific a lucrative market for application testing services.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from key organizations operating in the application testing services market. The breakdown of primary participants is listed below.
By Company Type: Tier 1: 40%, Tier 2: 40%, and Tier 3: 20%
By Designation: C Level: 40%, Director Level: 20%, and Others: 40%
By Region: North America: 30%, Europe: 30%, Asia Pacific: 20%, and RoW: 20%
Key vendors profiled in the report are as follows:
1. Wipro
2. Cognizant
3. TCS
4. Accenture
5. Capgemini
6. IBM
7. Infosys
8. DXC Technology
9. Deloitte
10. QualiTest
11. Tech Mahindra
12. SQS
Research Coverage
The application testing services market has been segmented on the basis of service type, testing type, delivery model, organization size, vertical, and region. Based on service type, the application testing services market has been categorized into managed services and professional services. Based on testing type, the application testing services market has been classified into functionality testing, usability testing, performance testing, compatibility testing, security testing, compliance testing, automation testing, and others (localization testing, mobile application testing, and crowdsourced testing). Based on delivery model, the application testing services market has been segmented into onshore, offshore, nearshore, and onsite. Based on organization size, the application testing services market has been segmented into small & medium enterprises and large enterprises. Based on vertical, the application testing services market has been segmented into telecom & IT, BFSI, healthcare & life sciences, government & public sector, media & entertainment, manufacturing, retail, energy & utilities, logistics & transportation, and others (education, aerospace & defense, and automotive). Furthermore, based on region, the application testing services market has been classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Key Benefits of Buying the Report:
The report will help market leaders and new entrants in the application testing services market by providing them the closest approximations of revenues of the market and its subsegments. This report will also help stakeholders understand the competitor landscape, gain insights to better position their businesses, and implement suitable go-to-market strategies. It will further help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05169659
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