z
MarketResearchReports.Biz
announces addition of new report" Global Software Testing
Services Market to Expand at 11% CAGR between 2016 and 2020 "to
its database
ALBANY,
New York, December 31, 2015: The global market for software testing
services is the focus of study of a market research report recently
added to the comprehensive database of MarketResearchReports.biz. The
report states that the market will expand at 11% CAGR between 2016
and 2020.
The
report, titled “Global
Software Testing Services Market
2016-2020”, states that the rising popularity of crowdsourced
testing will be a major driver of the market over the future years.
Crowdsourcing refers to a collective effort on a single project from
people working in different locations. Owing to the different
locations of people working on a single project, the need for
multiple real-time feedback over the actual progress of the project
is high. Owing to this, the demand for crowdsourced testing has
gained huge popularity in the past few years. It being the only
testing procedure capable of providing effective insights about the
quality of product being developed and aiding project testers to
detect defects and bugs in the product over the software testing life
cycle, its demand has continuously increased in the past years.
Recent
developments have propelled testing service providers to align their
services into specialized industry verticals, a trend which has
gained immense popularity over the years. Major companies in the
software testing services market, such as Infosys, offer testing
services that span across numerous industry verticals such as
insurance, retail validation and testing, and healthcare.
The
report segments the market on the basis of three criteria: type, end
user, and geography.
On
the basis of service type, the market is segmented into application
testing and product testing. Of these, the segment of application
testing dominates the global software testing services market by
accounting for over 88% of the market. This market segment is
expected to continue growing at an excellent pace over the report’s
forecast period as well owing to an increase in versatile
applications specific to a large user base or a popular market trend.
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On
the basis of end-user, the market is segmented into financial
services, banking, financial service and insurance (BFSI),
telecommunications, and others.
Of
these, the BFSI segment led the market by accounting for over 34%
share in the global market in 2015. Owing to the critical nature of
transactions that the BFSI industry deals with, a high degree of
testing services throughout the software development lifecycle of
BFSI applications is required.
The
report also presents a detailed overview of the competitive landscape
of the global software testing services market. The market features
the presence of a large number of companies, contributing not just to
the remarkable growth of the market but also to the competitiveness.
Partnerships with niche service providers as a way to enhance ongoing
innovations and improve software tool packages is a popular trend in
the market.
Some
of the key companies operating in the market are Accenture, IBM,
Cognizant, Wipro, Deloitte, Steria, Atos, Gallop Solutions, UST
Global, Cigniti, Infosys, CSC, QualiTest Group, NTT Data, Tech
Mahindra, Hexaware, TCS, HP, and SQS.
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