The global Software Testing and QA Services Market is estimated to be valued at US$ 38.42 Bn 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 quality assurance (QA) services are an integral part of the software development life cycle. Software testing involves validating and verifying that a software program/application/product meets desired design and functional requirements. It helps identify errors, gaps, omissions, bugs, and inconsistencies in the developed software before the product launch or new version release. Software testing enables companies to improve the overall quality and performance of their applications and software products. With increasing complexity and scope of software applications, software testing has also expanded from traditional manual testing to automation testing using various tools and techniques.
Market key trends:
One of the major trends in the software testing and QA services market is the rising adoption of test automation. Organizations are increasingly automating both functional and non-functional software testing to shorten testing cycles and reduce human errors. Automated testing helps achieve faster testing, improved quality, and reduced testing costs. Leading vendors in the market are offering a variety of automation testing tools and solutions like API testing, performance testing, security testing, etc. Furthermore, the surge in agile and DevOps adoption among organizations has also accelerated the demand for test automation. Along with automation, other emerging trends include outsourcing of testing services, analytics-driven testing, AI/ML-powered testing, and test environment management tools.
Porter’s Analysis
Threat of new entrants: New entrants face high entry barriers due to established players, large capital requirements and need for skilled workforce.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and large number of testing service providers.
Bargaining power of suppliers: Suppliers have low bargaining power due to availability of substitutes.
Threat of new substitutes: Threat from substitutes is moderate as manual testing can be replaced by automation testing but both will co-exist.
Competitive rivalry: Intense competition exists among existing players due to large number of vendors and differentiation in services.
Key Takeaways
The Global Software Testing and QA Services Market Size is expected to witness high growth, exhibiting CAGR of 13.% over the forecast period, due to increasing adoption of advanced technologies like AI, ML, automation etc. The market size for 2023 is estimated to be US$ 38.42 Bn.
Regional analysis: North America dominates the global market due to presence of major vendors. Asia Pacific is expected to grow at fastest pace owing to availability of skilled resources at low cost and growing digitalization.
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. Key players are focusing on collaboration, innovation and service enhancement to gain competitive advantage.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
