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The automation testing market size is forecast to increase by USD 30.21 bn at a CAGR of 15.91% between 2023 and 2028.
The automation testing industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The bfsi segment is estimated to witness significant growth during the forecast period. Automation testing plays a pivotal role In the banking, financial services, and insurance (BFSI) sector, where security and accuracy are paramount. Given the sensitive nature of financial transactions and customer data, robust testing is essential to ensure error-free software systems. Automation testing facilitates regular security checks, identifying vulnerabilities, and verifying the functionality of banking modules such as account management, loan processing, and payment gateways. Automated functional tests ensure software adherence to specified requirements, while regression testing maintains existing functionalities amidst frequent updates. Digitalization trends and Agile testing methodologies have fueled the adoption of automation testing. Artificial Intelligence (AI) and Machine Learning (ML) are increasingly integrated into automation testing for enhanced efficiency and test coverage.
Cloud solutions offer cost savings and flexibility, while service segments include managed services and implementation services. Testing types encompass static analysis, dynamic testing, and compliance testing. Organization size, from large enterprises to small businesses, benefits from automation testing's resource efficiency and efficiency improvement. Mission-critical activities, critical functionalities, high-risk areas, and legacy systems require stringent testing. Automation testing's strategic approach to risk management and product lifecycle evolution continues to drive growth in this market.
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The BFSI segment was valued at USD 5.35 bn in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The North American market for automation testing is driven by the region's tech-forward economy and the increasing digitalization trends across various industries. Finance, healthcare, retail, and manufacturing sectors in North America are undergoing significant digital transformations, leading to an increased demand for automation testing to ensure the successful implementation of new digital solutions, systems, and applications. The COVID-19 pandemic has further accelerated this trend as businesses shift to remote work and rely more on digital services. Artificial Intelligence (AI) and Machine Learning (ML) are key technologies driving automation testing, enabling organizations to improve efficiency, reduce costs, and enhance test coverage.
Automation testing solutions are also increasingly being adopted by both large enterprises and small businesses to ensure quality assurance, resource efficiency, and compliance with regulatory requirements. The market for automation testing is expected to grow at a significant rate, with a strategic approach to risk management and product lifecycle being crucial for success. Cloud solutions, static testing, dynamic analysis, and managed services are some of the key areas of focus In the market. Data security is a critical concern, with organizations implementing robust security measures to protect sensitive information. The market for automation testing is evolving, with a growing emphasis on test strategy, test planning, critical functionalities, high-risk areas, mission-critical activities, legacy systems, software applications, application testing, integrated applications, and test coverage.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Cloud solutions provide flexibility and scalability, making automation testing a strategic approach for organizations. Test strategy and planning are essential components of automation testing. Mission-critical activities, such as compliance testing and security measures, are addressed through automation testing, ensuring data security and revenue growth. Automation testing also improves efficiency by reducing the need for manual testing and minimizing rework. Market evolution has led to the emergence of managed services and implementation services, offering organizations customized solutions for their automation testing needs. Automation testing tools are now cloud-based, providing organizations with the flexibility to test applications, integrated systems, and legacy systems across various configurations and platforms. The growth rate for automation testing is significant, driven by the increasing importance of quality assurance and risk management In the digital age.
The service segment, which includes managed services and implementation services, is expected to dominate the market due to the growing demand for test coverage and quality assurance. The market is experiencing significant growth, with a high revenue share coming from large enterprises due to their mission-critical activities and high-risk areas. Small enterprises are also adopting automation testing to remain competitive and ensure compliance with industry standards. In the BFSI sector, electronic health records systems, and record systems, automation testing is essential for test coverage and data security. The market for automation testing is expected to grow at a robust rate, with cloud solutions and cloud-based tools becoming increasingly popular due to their cost-effectiveness and flexibility. Organizations are adopting a strategic approach to automation testing, focusing on critical functionalities and legacy systems to optimize their product lifecycle and manage risk.
Test Coverage is a primary concern for Quality Assurance teams, focusing on Resource Efficiency and Efficiency Improvement. Compliance Testing and Security Measures are crucial for ensuring Data Security and adhering to regulatory requirements. The market's growth rate is influenced by the strategic approach to Risk Management and the Product Lifecycle. Cloud-Based Tools are essential for implementing automation testing, offering flexibility and scalability. The market's evolution is driven by the need for seamless integration with existing systems, ensuring smooth workflows. Ensuring test coverage, improving resource efficiency, and maintaining compliance are key drivers for implementing automation testing solutions.
The automation testing market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the automation testing market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, automation testing market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.
Accenture Plc - Automation testing is a critical solution for enterprises seeking to minimize risk, enhance quality assurance, and optimize IT performance. By implementing automated testing processes, organizations can streamline testing cycles, ensure consistent results, and reduce the likelihood of errors or defects in software applications.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is experiencing significant growth and transformation due to the digitalization trends sweeping across various industries. Agile testing methods have become increasingly popular, enabling faster development cycles and more frequent releases. This shift towards agility has led to an increased demand for automation testing solutions. Artificial intelligence (AI) and machine learning (ML) are revolutionizing testing by enabling static analysis and dynamic testing. Static testing identifies defects In the code without executing it, while dynamic testing simulates real-world usage scenarios to identify functional and performance issues. These advanced testing techniques are essential for large enterprises and small enterprises alike, as they help ensure critical functionalities and high-risk areas are tested thoroughly.
The service segment of the market is witnessing robust growth, with managed services and implementation services gaining traction. Managed services provide ongoing testing support, allowing organizations to focus on their core business activities. Implementation services help organizations integrate automation testing solutions into their existing IT infrastructure. The testing type market is segmented into application testing, integrated applications, and compliance testing. Application testing focuses on testing software applications, while integrated applications testing ensures the seamless functioning of multiple applications working together. Compliance testing ensures adherence to industry regulations and standards. Legacy systems continue to pose challenges for organizations, as they require specialized testing approaches.
Automation testing solutions can help organizations test these systems efficiently and effectively, reducing the risk of errors and downtime. Data security is a critical concern In the market, with cloud-based tools offering enhanced security measures. A strategic approach to automation testing, incorporating risk management and efficiency improvement, is essential for organizations looking to maximize their revenue share and growth rate. The market evolution of automation testing is driven by the need for organizations to deliver high-quality software applications quickly and efficiently. Automation testing solutions help organizations improve their test strategy and planning, enabling them to focus on mission-critical activities and critical functionalities.
In conclusion, the market is undergoing significant transformation, driven by digitalization trends, agile testing methods, and advanced testing techniques. Organizations of all sizes are recognizing the benefits of automation testing, from improved efficiency and resource efficiency to enhanced data security and compliance testing. As the market continues to evolve, organizations must adopt a strategic approach to automation testing to stay competitive and meet the demands of their customers.
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Market Scope |
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Report Coverage |
Details |
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Page number |
154 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.91% |
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Market growth 2024-2028 |
USD 30.21 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
15.78 |
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Key countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this automation testing market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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