Software Testing Market Size By Component (Application Testing, Services [Professional and Managed]), By Application (IT, Telecom, BFSI, Manufacturing, Retail, Healthcare, Transportation & Logistics, Government & Public Sector, Consumer Electronics, Media

Software Testing Market Size By Component (Application Testing, Services [Professional and Managed]), By Application (IT, Telecom, BFSI, Manufacturing, Retail, Healthcare, Transportation & Logistics, Government & Public Sector, Consumer Electronics, Media), By Type & Forecast, 2023 - 2032

Global Software Testing Market is slated to observe considerable gains through 2032, owing to the surging focus of government authorities and OEMs on autonomous driving technology. The growing development of autonomous vehicles has increased the focus of software testing service providers on developing advanced computing chipsets and high-end software equipped with automation technologies for the vehicle’s superior performance. To illustrate, in February 2023, the UK government announced the launch of the world’s first self-driving bus to support self-driving transport technology. Such developments will aid the industry growth over the next ten years.

The overall software testing market is segmented in terms of component, type, application, and region.

Based on components, the software testing industry from the services segment is expected to grow at a substantial CAGR from 2023 to 2032, owing to the growing focus of companies on enhancing their professional services. Citing an instance, in January 2022, NTT DATA Business Solutions, a leading IT service management firm, inked a deal with Tricentis, an Austrian software firm, to offer the benefits of advanced test automation services to its clients. The new deal makes NTT DATA Business Solutions Nordic a re-seller and implementation partner of the Tricentis platform.

Based on type, the software testing industry from the pureplay software testing segment is slated to record a valuation of more than USD 30 billion by 2032, on account of the growing demand for customized software testing services. Pureplay software testing involves developing products to cater to a specific industry and marketing them over the Internet for clients. Moreover, it minimizes the company’s expenses and offers great flexibility by tailoring the solutions to the client’s needs.

In terms of application, the software testing industry from the healthcare segment is anticipated to accrue lucrative gains through 2032, owing to growing consumer preference for digital health services such as wearable medical devices, electronic health records, and others. As per IBEF, the medical device industry in the country is expected to reach USD 50 billion by 2025. For wearable medical devices, software testing helps assess reliability, user experience, and safety.

From the regional perspective, Europe software testing market is poised to grow at a considerable CAGR from 2023 to 2032, owing to the surging adoption of electric vehicles. As per the International Energy Agency, in 2021, electric cars made up 17% of the region’s automobile sales. Moreover, software testing is heavily employed in electric vehicles for the diagnosis of EV batteries, circuitries, and thermal systems for the rectification of unexpected issues before the manufacturing phase.