Test Automation Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
Albany, NY -- (SBWIRE) -- 11/24/2017 -- Prominent names leading the global test automation market are IBM Corporation, Hewlett-Packard, and Capgemini S.A. In order progress in the market, the aforementioned players are focused on integrating several automation testing offerings under one umbrella. They are also expending time and money on bettering their current test automation offering to bolster their positions further.
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Apart from the three, other important companies operating in the global test automation market are Wipro Ltd., Infosys Ltd, Cognizant Technology Solutions Corp, SmartBear Inc., Tata Consultancy Services, Hexaware Technologies, Wipro Ltd., Zensar Technologies, Qasymphony, Inc., SeaLights Technologies Ltd, and Tricentis GmbH.
A report by Transparency Market Research predicts the global test automation market to rise at a solid 15.4% CAGR between 2017 and 2025 to become worth US$ 109.69 bn by 2025 from US$ 30.45 bn in 2016.
Swift Adoption of Managed Services by Organizations Propels Services Segment
Depending upon component, the global test automation market can be broadly split into products and services. Among the two, the segment of services, which can be further divided into advisory and assessment services and managed services, holds a leading share in the market. In the years ahead, the segment is expected to retain its dominant share by expanding at a greater clip. This is because most organizations prefer managed services is the leading services.
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Geographically, the key segments of the global test automation market are North America, Latin America, Europe, Asia Pacific, and the Rest of the World. North America, of them, dominates the market with maximum share. In 2016, its share in the market was about 46.0%. In the years ahead too, North America is predicted to hold on to it leading market share because of the growing thrust on quality assurance (QA) within institutions with more transformational projects being implemented to ensure shorter time-to-market and strong returns on investment (ROI). The market in North America is being led by the U.S., wherein different regulatory changes in the healthcare and financial services sectors are resulting in increased focus on IT.
Surging Digital Transformation Fuelling Growth
At the forefront of driving demand in the global test automation market is the growing digital transformation which has made software testing and quality assurance (QA) crucial across the enterprises. This has led to investments by prominent IT organizations in QA and software testing.
"Market demand is also gaining traction due to the increasing number of mobile applications in the field of communications, multimedia travel, and productivity. Additionally, market growth is further supported by the various cloud applications being deployed to reduce effective time-to-market," adds the lead analyst of the TMR report.
Steep Costs Deter Market
A factor posing headwinds to the global test automation market is the protracted timeframes and massive investments required for setting up the most appropriate test labs. Further, the market is also being hindered by the strong demand for specialized testers with the desired testing skills for test automation.