The global software testing market is estimated to garner substantial growth by 2030. Software testing has penetrated a large spectrum of industry verticals with the rapid integration of digital technologies. Digitalization trends have disrupted the logistics space by enabling continuous communication channels and facilitating end-to-end visibility.
Various factors such as urbanization, modernization of infrastructures and enterprises, and the emergence of the COVID-19 pandemic have spurred the digital ecosystem of logistics organizations. As a result, relevant software tools, mobile applications, and web-based portals have witnessed a considerable rise in demand.
Increasing use of mobile applications, UPI, and digital wallets for contactless transactions and online shopping will drive the need for software testing among developers. Various market players are introducing novel developments and strategic initiatives to best meet customer demand worldwide and enable access to services.
In March 2022, Tricentis entered a partnership agreement with HeadSpin, a leading data-driven testing platform to accelerate digital transformation. As a part of the partnership, HeadSpin will leverage the AI-based automation platform, Tricentis Tosca to offer end-to-end testing and AI-based solutions.
The global software testing market is classified into component, application, and region.
Based on components, the industry is segregated into services and application testing. Among these, the service segment accounted for more than USD 17 billion in 2021. Professional services are used by companies as they are highly equipped to execute at all stages of a product life cycle including strategy, implementation, and testing. The demand for these services will elevate as companies devise a roadmap to improve product quality and reduce time to market.
In terms of application, the global software testing market is bifurcated into retail, transportation & logistics, BFSI, healthcare, IT, telecom, manufacturing, consumer electronics, media, government & public sector, and others. Transportation & logistics applications segment generated more than USD 1 billion in 2021. Software testing is a commonly performed procedure in the logistics sector through different modules like WMS, CRM, and QMS. Depending on the module, the test is categorized into UI, regression testing, or functionality.
Software testing is also performed across various retail operations and services with higher efficiency needs. The retail sector relies on software services to improve customer services and maintain the stable performance of the organization and business reputation, which can be considered a crucial factor attracting heavy investments in testing services. The retail applications segment is projected to expand at a CAGR of more than 9% between 2022 and 2030.
From a regional frame of reference, the Latin America software testing market size is expected to surpass USD 2 billion by 2030 owing to the surging adoption of next-gen technologies such as robotics, automated systems, and IoT. Manufacturing facilities in the region are rapidly upgrading to smart manufacturing capabilities and advanced technologies.