$28.8 Bn Automation Testing Markets, 2024 by Component (Testing Types (Static, Dynamic), Services), Endpoint Interface (Mobile, Web, Desktop, Embedded Software), Organization Size, Vertical
DUBLIN, Sept. 18, 2019 /PRNewswire/ -- The "Automation Testing Market by Component (Testing Types (Static, Dynamic (Functional, Non-functional)), Services), Endpoint Interface (Mobile, Web, Desktop, Embedded Software), Organization Size, Vertical, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
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The global automation testing market size is expected to grow from USD 12.6 billion in 2019 to USD 28.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 18.0% during the forecast period.
Automated testing involves different types of testing, such as static and dynamic, used to automate testing scripts by running those scripts frequently. Wherein, static testing is used to examine the output or other project artifacts without executing it, and dynamic testing is used to examine codes through its execution. The dynamic testing further comprises functional and non-functional testing.
The web segment is expected to hold a higher significant market share
Companies across verticals are increasingly relying on web applications, thereby increasing the dependency on the web to make their customers happier and increase their sales revenue and profit. Web applications undergo constant changes to meet evolving market demands and customer expectations. Automated regression suites ensure quality across web versions while keeping the costs at an acceptable level and reducing the release cycle times, thereby helping companies remain competitive in their businesses.
The Banking, Financial Services and Insurance (BFSI) vertical segment is expected to hold a higher significant market share
Over the years, the BFSI vertical is going through a tremendous change in their modes of operation due to digitalization. The digital transformation efforts in the vertical are focused mainly on improvising customer experience, which can be catered further through automation of QA and testing. Several organizations are experimenting with analytics, AI, and ML to optimize the automation of QA and test activities. This is evident from the fact that a US-based BFSI organization is using AI dashboard, which is helping agile teams work better, by providing easy project visibility to the stakeholders.
Furthermore, the increase in the demand for software development across interfaces and platforms is expected to drive the growth of the automation testing market in the BFSI vertical. Moreover, technological advancements, such as Robotic Process Automation (RPA), AI, and ML, and their use in the software testing space to drive the demand for automation testing skills in project teams. However, mid-tier and smaller financial service organizations are finding it hard to adopt it and hire the skills necessary to include agile methodologies in their projects.
North America is expected to have the largest market size during the forecast period
North America is the most mature market in terms of automation testing adoption. North America is likely to account for a substantial share of the global automation testing market during the forecast period. The market growth in this region is driven primarily by the presence of large IT companies/users and rapid technological advancements, such as digitalization in the US and Canada.
The presence of key players in automation testing market in the region is expected to be a significant factor driving the market growth in North America. Key players, such as IBM, CA Technologies, Microsoft, SmartBear Software, Parasoft, Cigniti Technologies, and Eggplant with several startups in the region, are offering enhanced automation testing solutions, to cater to the needs of customers.
Market Dynamics
Drivers
-- Need to Provide Seamless End-User Experience With Reduced Time-To-Market
-- Demand for AI and ML in Quality Assurance and Testing Among Enterprises
Restraints
-- High Implementation Cost and Prevailing Manual Testing in the Automation
Testing Market
Opportunities
-- Continuous Development in the It Sector
-- Increase in Consumption of Mobile-Based Applications
Challenges
-- Lack of Skilled Professionals
Industry Trends
-- Artificial Intelligence and Machine Learning
-- Continuous Testing
Company Profiles
-- AFour Technologies
-- Applitools
-- Astegic
-- CA Technologies
-- Capgemini
-- Cigniti Technologies
-- Codoid
-- Cygnet Infotech
-- Eggplant
-- Froglogic
-- IBM
-- Infostretch
-- Invensis Technologies
-- Keysight Technologies
-- Micro Focus
-- Microsoft
-- Mobisoft Infotech
-- Parasoft
-- QA Mentor
-- QAsource
-- QualityKiosk Technologies
-- Ranorex
-- Sauce Labs
-- SmartBear Software
-- Testim
-- ThinkSys
-- Tricentis
-- Worksoft
For more information about this report visit https://www.researchandmarkets.com/r/qk5994
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