May 22, 2024

Software Testing and QA Services Market Propelled by Increasing Demand for Automated Testing Solutions

Software testing and quality assurance (QA) services help ensure software applications function as intended and are free of defects. This includes validating and verifying software code for bugs, security issues, and adherence to design specifications. The growing digitalization trend has increased the demand for higher quality software, driving the need for rigorous testing and certification services.

The global Software Testing and QA Services Market is estimated to be valued at US$ 44.26 Mn in 2023 and is expected to exhibit a CAGR of 5.2%  over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends propelling the software testing and QA services market is the increasing demand for automated testing solutions. Automated testing utilizes specialized testing software and tools to simulate human actions in validating program functionality and security. It helps enhance testing efficiency by reducing time and effort as compared to manual testing. Automated testing is being increasingly adopted by software developers and organizations to handle the growing need for frequent testing cycles with limited resources and tight deadlines. This trend is expected to support continued growth of the software testing and QA services market over the forecast period.

SWOT Analysis

Strength: Software testing and QA services provide quality assurance for software products before release. This helps improve customer satisfaction.

Weakness: Testing and QA is a time consuming process requiring skilled resources. It increases the development cycle time and costs.

Opportunity: Growing software industry globally is generating increased demand for testing and QA services. Many companies are outsourcing these services to specialized vendors.

Threats: Low entry barriers can lead to increased competition. Aggressive pricing by new players can impact margins of existing testing service providers.

Key Takeaways

Global Software Testing And QA Services Market Size is expected to witness high growth over the forecast period of 2023 to 2031. The market size was valued at US$ 44.26 Mn in 2023 and is projected to reach over US$ 68 Mn by 2031, rising at a CAGR of 5.2% .

Regional analysis

North America dominates the global market currently, owing to strong presence of software companies and technology adoption. The US and Canada account for majority share. Asia Pacific is expected to witness fastest growth over the coming years. Countries like India, China, Singapore, Philippines are emerging as preferred outsourcing destinations for software testing services due to availability of skilled resources and competitive costs.

Key players

Key players operating in the software testing and QA services market are Thermo Fisher Scientific, Merck KGaA, Danaher Corporation, Agilent Technologies, PerkinElmer, GE Healthcare, Promega Corporation, Genetec, Bio-Rad Laboratories, Abcam. The market is fragmented with presence of several small and mid-sized players globally, who compete on factors like pricing, quality and reliability. The key players are focused on expanding their service portfolios and global footprint through mergers and acquisitions.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it