Authored By: Sarah
11 Oct 2024

Latest News:- Automation Testing Market: BFSI is expected to lead the End-user segment during 2024-2028

Automation Testing Market to grow at a CAGR of 15.91% during 2024-2028

The Automation Testing Market is expected to grow at a CAGR of 15.91% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 30.21 billion. In today's business landscape, digital transformation is a priority for organizations across industries, leading to an increased focus on accelerated software development and deployment. Agile methodologies and DevOps practices are becoming increasingly common, and automation testing is a crucial enabler for these approaches. By providing quick, iterative testing, automation enables businesses to release software faster while maintaining quality. Moreover, as digital transformations introduce complex applications spanning multiple platforms, devices, and interfaces, automation testing offers a scalable and efficient solution for managing this complexity. Furthermore, with the introduction of new regulations and security challenges, automated testing plays a vital role in ensuring compliance and identifying vulnerabilities early in the development process. These factors are expected to drive the growth of the global automation testing market during the forecast period. 

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The BFSI subsegment is expected to dominate the End-user segment during the forecast period 

Technavio analysts predict that the BFSI subsegment will lead the End-user segment during 2024 and 2028 In the banking, financial services, and insurance (BFSI) sector, automation testing plays a pivotal role due to the sensitive nature of financial data and transactions. BFSI applications handle confidential customer information and financial processes, necessitating robust and secure software systems. Automation testing is essential for conducting regular security checks, identifying vulnerabilities, and ensuring system resistance to unauthorized access, data breaches, and cyber threats. Furthermore, it verifies the functionality of various banking modules, such as account management, loan processing, and payment gateways, by executing automated functional tests. Regression testing, with its frequent updates, ensures that new changes do not adversely impact existing functionalities, thereby maintaining software compliance with specified requirements.

Here are the various ways based on which the market is segmented: 

  • End-user
    • BFSI
    • Telecom and media
    • Manufacturing
    • Others
  • Deployment
    • On-premises
    • Cloud-based
  • Geography
    • North America
    • Europe
    • APAC
    • South America
    • Middle East and Africa

Reasons to Purchase the Global Automation Testing Market Market Research Report by Technavio. What is in it for you?

  • Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
  • Insight into Current Market Trends: Our research reports provide our readers insights into the latest market intelligence, competitor strategies, market trends, changes taking place in the industry and customer preferences, forecasted market opportunities that influence them to make better business decisions
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There are several factors that are causing the market to flourish increasing demand for continuous delivery and continuous integration (cd/ci)

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

Automation testing is a critical component of quality assurance in the ever-evolving world of software applications. Compliance testing through automation ensures adherence to industry standards and regulations, enhancing the reliability and security of software. Resource efficiency is a significant advantage, allowing for increased test coverage and faster execution times. Application testing, including compliance testing, is essential for software applications in various sectors like BFSI, Healthcare (Electronic Health Records), and Legacy Systems. High-risk areas and critical functionalities demand rigorous testing, making automation indispensable. Test planning and strategy are crucial in automation testing. Dynamic testing and static analysis are testing types that cater to different aspects of software functionality. Small and large enterprises alike benefit from automation testing services, with cloud solutions and machine learning/artificial intelligence enhancing testing capabilities. Digitalization trends, such as Agile testing and DevOps methodologies, are driving the automation testing market. The service segment includes record systems, test data management, and performance testing. Automation testing is vital for ensuring the quality of software applications, enabling organizations of all sizes to meet the demands of their customers and stakeholders.

Market Research Overview

According to Technavio's market research, the global automation testing market is a significant segment of the expansive global communications equipment market, which falls under the broader IT sector. This market encompasses the revenue generated from the sales of communication equipment such as enterprise networking products, including LANs, WANs, routers, telephones, switchboards, and exchanges, as well as communications infrastructure or telecom equipment. Notably, the market size excludes income from cellular phone manufacturers, which are classified under the technology hardware, storage, and peripherals sub-industry. Technavio calculates the global communications equipment market size based on the revenue earned from communication equipment sales, broadcasting equipment, telecommunication equipment, and investments made by service providers to enhance their communication infrastructure.

The Automation Testing Market is experiencing significant growth, fueled by the increasing demand for continuous delivery and continuous integration (cd/ci). Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

 

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