PUNE, India, October 25, 2017 /PRNewswire/ --
According to a new research report "Application Testing Services Market by Service Type (Professional, Managed), Testing Type (Functionality, Security, Automation), Delivery Model (Onshore, Offshore), Organization Size, Vertical, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is estimated to be USD 26.59 Billion in 2017 and is projected to reach USD 50.14 Billion by 2022, at a CAGR of 13.5% from 2017 to 2022.
Browse 60 Market Data Tables and 36 Figures spread through 125 Pages and in-depth TOC on "Application Testing Services Market "
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Factors influencing the growth of the Application Testing Services Market are the digital transformation of businesses and increased adoption of automation testing processes in various industries.
Based on delivery model, the onshore segment of the Application Testing Services Market is expected to witness the highest growth during the forecast period
Based on delivery model, the Application Testing Services Market has been segmented into onshore, offshore, nearshore, and onsite. Advantages such as reduced operational costs and enhanced productivity associated with the onshore delivery model are driving the growth of the onshore segment.
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Based on organization size, the small & medium enterprises segment of the Application Testing Services Market is projected to grow at the highest CAGR during the forecast period
Based on organization size, the Application Testing Services Market has been classified into small & medium enterprises and large enterprises. The small & medium enterprises segment is anticipated to witness significant growth in the near future, owing to the increased adoption of application testing services by SMEs to enhance their competitive position in the market. North America is expected to contribute the largest market share, whereas Asia Pacific to grow at the highest CAGR during the forecast period.
Based on vertical, the manufacturing segment is projected to grow at the highest CAGR during the forecast period
Based on vertical, the manufacturing segment of the Application Testing Services Market is projected to witness the highest growth from 2017 to 2022. This growth is primarily driven by the adoption of manual and automated testing services in manufacturing industries to ensure the highest quality standards for proper functioning of secured applications, accelerate revenue, enhance productivity, and reduce operational costs.
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North America is estimated to lead the Application Testing Services Market in 2017
North America is estimated to be the largest market for application testing services in 2017. This region witnessed a high adoption of application testing services in large enterprises and SMEs, as testing services help improve the functionality, performance, usability, and consistency of applications.
The report provides a detailed overview of the competitive landscape of market players, which presents information with respect to the positioning of 25 key vendors offering application testing services, based on their product offerings and business strategies. Key players operating in the Application Testing Services Market include Wipro (India), Cognizant (US), TCS (India), Accenture (Ireland), Capgemini (France), IBM (US), and Infosys (India).
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