Pure Play Software Testing Services Market to Grow by USD 6.05 Bn, BFSI Segment to be the Largest Revenue-generating End-user Segment – Technavio – QNT Press Release

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NEW YORK, Oct. 27, 2022 /PRNewswire/ — The pure-play software testing services market share growth by the BFSI segment will be significant during the forecast period. The BFSI sector is increasingly becoming an aggressive digital marketer through mobile channels, and this trend will continue during the forecast period . The need for enabling customer access to financial services through mobile devices and the continuous engagement of customers drive the consumption of software testing tools in the BFSI sector.

The “Pure Play Software Testing Services Market by End-user (BFSI, IT, Telecom, Retail, and Others) and Geography (North America, EuropeAPAC, South Americaand MEA) – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. The potential growth difference for the pure play software testing services market between 2021 and 2026 is USD 6.05 billion. To get the exact yearly growth variance and the YOY growth rate, Buy the Full Report

• By End-user

o BFSI
o IT
o Telecom
o Retail
o Other

• By Geography

o North America
o Europe
o APAC
o South America
o Middle East and Africa

41% of the market’s growth will originate from North America during the forecast period. The US is the key market for pure-play software testing services in North America. The early adoption of SMAC technologies will facilitate the pure play software testing services market growth in North America over the forecast period.

View our FREE PDF Sample Report for additional insights into the contribution of all the segments and regional opportunities in the report.

• Market Driver – One of the key factors driving the global pure-play software testing services industry growth is the evolution of software testing labs. Companies are focusing on product development and R&D to develop high-quality products. Software testing is performed throughout the product development stage and constitutes as much as 50% of the product development costs. In addition, the process of outsourcing testing elements to software testing vendors enables organizations to save on costly resources or manage with the limited resources available. A testing process is bound by service- level agreements between the testing service providers and the organization that sets acceptable quality standards. Such factors will propel the market growth in the forecast period.
• Market Challenges – One of the key challenges to the global pure-play software testing services industry growth is the growing concern about data privacy and information security. The testing service is becoming a more complex process due to the increase in the number of guidelines and IT security regulations and policies. Threats from hackers and security breaches in cloud-based services are on the rise. Therefore, vendors should ensure that the testing of cloud infrastructure for SaaS, IaaS, and PaaS has been carried out as per the latest IT security guidelines . The different models of cloud computing services should be tested effectively to prevent the sharing of data with unauthorized systems or persons. Thus, the rising cybersecurity concerns will restrict the growth of the market in focus during the forecast period.

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• Cigniti Technologies Ltd.
• DXC Technology Co.
• Expleo Group SAS
• imbus AG
• Inspearit
• Planit Test Management Solutions Pty. Ltd.
• QA InfoTech
• QualiTest Ltd.
• Trigent Software Inc.
• ZenQ

To gain access to more vendor profiles with their key offerings available with Technavio, Download the Sample Report

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