The global Automation Testing Market is expected to grow from USD 24.7 billion in 2022 to USD 52.7 billion by 2027, at a CAGR of 16.4% during the forecast period, according to a new report by MarketsandMarkets™. The growth is attributed to the rising demand for scalable and adaptable delivery models. The demand for secure software and firmware updates increased during pandemic, which has increased the need for testing software’s regularly, in turn boosting the need for automation testing services.
By component, services are estimated to account for the largest market share in 2022
The advisory and consultancy services contribute to the improvement of automated testing infrastructure and tools across the product delivery life cycle. Services for automation testing are primarily provided to organisations, end users, and developers. Managed services assist businesses in delegating the duty of upkeep and foresight of processes and tasks needed to enhance operations and cut costs.
By vertical, retail is expected to register the fastest growth rate during the forecast period
Advanced automation technologies used in this vertical provide real-time advertising and marketing and analytics-based decisions. The retail vertical has completely transformed compared to others in terms of mobile testing due to the increase in the production of smartphones and the development of in-house experts for mobile technology.
Asia Pacific is likely to emerge as the fastest-growing market during the forecast period
Asia Pacific is anticipated to have highest CAGR for the forecasted period. Significant development prospects exist for automated testing suppliers in developed nations including Australia, Japan, Singapore, China, New Zealand, and Hong Kong in the region. The growth of the Automation Testing Market in this region can be attributed to the rising demand for adoption of advanced technologies for various industry applications in the region.
North America to account for the largest market share during the forecast period
The market for automation testing has grown significantly in North America, which now holds the majority of the industry. IoT devices and apps have become more prevalent in North America as businesses and developers place a higher priority on performance testing. In June 2020, Keysight Technologies Inc. purchased Eggplant, a platform for testing software automation that automates test creation and execution using and analytics. North America is anticipated to be the most profitable market because of the increasing adoption of IoT technology in the area, which will further magnify home automation devices.
Get the entire report here.
(Source – MarketsandMarkets™ and ET CIO South-East Asia)
