Global Software Testing Services Market 2016-2020 Scrutinized in New Research

MarketResearchReports.Biz announces addition of new report “ Global Software Testing Services Market 2016-2020” to its database.

Market outlook of software testing services

Technavios research analyst predicts the global software testing services market to grow at a CAGR of close to 11% during the forecast period. One of the key drivers for the growth of the market is the growing popularity of crowdsourced testing. Crowdsourcing is a collective effort from people working in different locations on a single online project. Crowdsourced testing has gained immense popularity over the years because it is the only testing process that offers real-time feedback on product development, provide insights about the quality of the product, and helps tester detect bugs and defects over the software testing life cycle.

Industry-specific testing services offerings is another significant trend that is envisaged to propel the growth of the software testing services market during the forecast period. Recent developments have driven companies to align testing services into vertical specializations, which has gained popularity over the years. For instance, Infosys, one of the key players in the global software development market, offers testing services through various specialized practices, such as healthcare, insurance, and retail validation and testing practice.

Product segmentation and analysis of the software testing services market

Application testing services

Product testing services

At present, the application testing services segment dominates the software testing services market, with a market share of over 88%. The growth of this segment is projected to continue over the next five years due to an increase in application verticalization specific to a concentrated user base. The growing consumerization of IT has encouraged companies to develop versatile applications to strengthen their presence and engage customers.

Segmentation by end-users and analysis of the software testing services market

BFSI

Financial services

Media

Telecommunications

Others

In 2015, the financial services sector led the market with more than 34% of the total market share. Almost all the financial application development and maintenance requires a high degree of testing services throughout the software development lifecycle. Intense competition among global leaders and the shift to specialized services are pushing financial institutions to seek for enterprise-grade testing services.

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