Application Testing Services Market to grow with a growth rate of 13.5% during 2017 to 2022
The application testing services market is estimated to be USD 26.59 Billion in 2017 and is projected to reach USD 50.14 Billion by 2022, at a CAGR of 13.5% from 2017 to 2022. The digital transformation of businesses and high demand for automated application testing services are key factors driving the growth of the market.
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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 market has been categorized into managed services and professional services.
Based on testing type, the market has been segmented 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 market has been segmented into small & medium enterprises and large enterprises. Based on vertical, the 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 market has been classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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North America is estimated to be the largest market for application testing services in 2017. This region witnessed a high adoption of application testing services in large enterprises and SMEs, as testing services help improve the functionality, performance, usability, and consistency of applications.
The application testing services market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. The increasing adoption of application testing services in sectors, such as BFSI, telecom & IT, and retail, is anticipated to fuel the growth of the market in the Asia Pacific region.
A few restraining factors that affect the growth of the application testing services market include security concerns associated with the successful running of applications. Over the past few years, there has been a steady rise in the number of cyber-attacks through web applications.
Hence, security has become a major concern for the successful running of applications. Key players operating in the market include Wipro (India), Cognizant (US), TCS (India), Accenture (Ireland), Capgemini (France), IBM (US), and Infosys (India).
These companies are focused on the adoption of various growth strategies such as partnerships and collaborations, mergers & acquisitions, new service launches, and business expansions to enhance their market share in the market.
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