Software Testing Market Outlook – Rising Demand, Share, Trends, Growth, Opportunities and Top Key

In a recent published report, Kenneth Research has updated the Market report for Software Testing Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian Software Testing Market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how Market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Software Testing MarketProducts.

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The new report, ‘Software Testing Market in India’, states that over the years, India has become the world’s preferred outsourcing destination for software testing services because of its talented workforce and comparatively lower costs. Although other countries such as China and the Philippines are also providing services at a lower cost, India remains the preferred country of choice for most of the US and UK based companies mainly because of its skilled workforce and operational efficiencies. The United States is the key market for the big Indian software testing vendors, followed by Europe and the Middle East.
The demand for software testing services is on the rise following the rapid evolution of vendor capabilities over the past two decades. In the current scenario that involves cut-throat competition among the various software testing companies, there is very little room for error. Bad software will not only hurt a company financially but will have a major impact on its brand value as well.
The growing maturity of Indian vendors that allows consistently high quality service delivery and better user of defined standards with the rapid evolution of vendor capabilities over the past two decades comprise some of the major drivers leading to the growth of the Indian software testing market. Recent government initiatives undertaken within the IT & ITeS sectors also act as a major driving force behind the growth of the software testing industry in India.
The outsourced software testing market comprises of the two major types of software testing, traditional and independent testing services (ITS). Independent testing services are preferred over traditional testing services as independent testers and test consultants lend the much needed impartial and qualitative approach to the entire testing process.
However, the industry also experiences some pain points. Even though India is known for its IT expertise, it still lacks enough educational and training focus on the aspect of software testing. An agile software development process that involves poor testing may lead to poor coding thereby escalating the risk of errors. Moreover, rising competition from other low cost nations also poses a threat to India’s dominance in the testing industry.
Currently, the software testing industry has sensed the need for mobile application testing owing to the rapid growth of mobile devices applications in India. Also, the industry is witnessing a shift in trend towards cloud based testing; IP-led testing; testing-as-a-service; automated testing and testing in domain-specific niche services.

According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  •  Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

The Software Testing Market report answers the following questions:

What is the aim of the report?

  • The Software Testing Market report presents the estimated Software Testing Market size of Software Testing Market by the end of forecast period. Additionally, the historical and current Software Testing Market size is also examined in the report.
  • Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
  • An overview of the Software Testing Market based on geographical scope, Software Testing Market segmentation and financial performance of key players is presented in the report.
  • The report presents current trends in the industry and future scope of the Software Testing Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
  • The various parameters accelerating the growth of Software Testing Market are incorporated in the research report.
  • The report analyzes growth rate, Software Testing Market size and valuation of the Software Testing Market during the forecast period.

What aspects regarding the regional analysis Software Testing Market are included in this report?

  • Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
  • The report consists of detailed region-wise analysis of current and future Software Testing Market trends, providing information on product usage and consumption.
  • The growth rate of the Software Testing Market in every region, including their countries over the forecast period is included in the Software Testing Market report.

How is Software Testing Market segmentation explained in the report?

  • The Medical Radiation Detection and Monitoring  Software Testing Market is segmented by – (End User Product Type)
  • The report studies various factors responsible for growth of Software Testing Market in each segment accompanied by analysis of the largest Software Testing Market share holding segment.
  • Additionally, the several segments catering to the growth of Robotic Process Automation (RPA) Software Testing Market are discussed at length in this business intelligence report accompanied by sub-segments and individual Software Testing Market values for each section.

Based on what factors are the key Software Testing Market players assessed in this report?

  • The report offers detailed analysis of leading companies in the Software Testing Market across the globe.
  • It provides details of the major vendors involved in the Software Testing Market including Key Playes
  • A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
  • The facts and figures about Software Testing Market competitors along with standpoints of leading Software Testing Market players are presented in the report.
  • The recent developments, mergers and acquisitions related to mentioned key players are provided in the Medical Radiation Detection and Monitoring  Software Testing Market report.

How does the report examine the growth drivers and restraints of Software Testing Market?

  • The factors resulting in the expansion of the Software Testing Market are elaborated in the report after thorough primary and secondary research.
  • Analytical strategies focused on gain indicators affecting the growth of the Robotic Process Automation (RPA) Software Testing Market are presented in graphical formats.
  • The business-related trends driving the product consumption are discussed in detail in the report along with industry expertise to minimize the barriers to Software Testing Market growth.

What is the key information extracted from the report?

  • Extensive information on factors estimated to affect the Software Testing Market growth and Software Testing Market share during the forecast period is presented in the report.
  • The report offers the present scenario and future growth prospects Software Testing Market in various geographical regions.
  • The competitive landscape analysis on the Software Testing Market as well as the qualitative and quantitative information is delivered.
  • The SWOT analysis is conducted along with Porter’s Five Force analysis.
  • The in-depth analysis provides an insight into the Software Testing Market, underlining the growth rate and opportunities offered in the business.

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