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Continuous Testing Market to Grow at a CAGR of 15.9%
May 9, 2018 | PRNewswireEstimated reading time: 2 minutes
The continuous testing market size is expected to grow from $1.15 billion in 2018 to $2.41 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 15.9% during the forecast period. The growing need among organizations across industry verticals for digital transformation of their business processes, the growing need for continuous and timely delivery of software, and DevOps going mainstream are expected to drive the growth of continuous testing market. The major factor that is expected to restrict the growth of continuous testing market is the heavy dependence on traditional approaches and the lack of skilled and experienced test automation professionals.
The professional segment is expected to account for the larger market size during the forecast period.
Professional services have been categorized into implementation, advisory and consulting, support and maintenance, and training and education services.Organizations depend on professional experts to integrate and deploy continuous testing tools for thorough testing to reduce their business risks and ensure the smooth functioning of software.
Professional service providers help integrate continuous testing solutions with existing workflows in enterprises and provide support and training to upgrade and resolve issues over a short period of time, thereby facilitating organizations with faster and timely delivery of their software.
The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period.
The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period.Cost-effectiveness is the important need of SMEs, as they always face constraints in marketing themselves and gaining visibility, due to their limited budgets.
Moreover, SMEs use continuous testing for reducing the time and increasing their efficiency in executing the software development life cycle.Due to budget constraints, SMEs mostly prefer cloud-based solutions over on-premises solutions, and this adoption trend is expected to accelerate in the near future, enabling the cloud deployment type to have a considerable market size during the forecast period.
The SMEs segment has a huge potential to flourish in the continuous testing market during the forecast period.
Asia Pacific (APAC) is expected to witness the highest growth rate during the forecast period.
North America is estimated to account for the largest market share in 2018, while APAC is expected to grow at the highest CAGR during the forecast period.APAC is expected to be a lucrative market for continuous testing during the forecast period, considering the untapped opportunities and increasing commercial investment in different industry verticals in the region.
Multinational companies are expected to emphasize on exploring the APAC market by partnering with local companies, channel partners, and technology partners.Moreover, the increasing adoption of cloud and mobile technologies and the growing trend of outsourcing a few operations to specialist companies have led to the rapid adoption of continuous testing in the APAC countries, such as India, China, and Australia.
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