Transparency Market Research has just published a report titled, “Test Automation Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”. The global test automation market is led by players such as Hewlett-Packard, IBMCorporation and Capgemini. These players mainly target on the integration of numerous automation testing offerings under one umbrella for gaining a competitive edge in this market. In addition, these players have also focused on improving their present test automation offering for strengthening their presence in the market.
The global test automation market stood at US$12.91 billion in 2015 and is predicted to touch US$85.84 billion by 2024 end. In terms of type, functional testing was the leading segment in the test automation market and constituted a share of 23.2% in the market, in terms of revenue in 2015. This is due to the consistent development of Agile development practices and the increasing investments in outsourced resources. On the other hand, the segment of security testing is poised to be the most swiftly developing segment and is expected to rise yearly at a whopping 27.8% rate between 2015 and 2024. This is caused by the increasing connectivity of information systems and data as well as the rising trend of Internet of Things (IoT) and cloud computing. In addition, the growing utilization of Software as a Service (SaaS) model and swift mobile applications’ deployment on cloud will also boost the development of the security testing segment.
Increasing Investments for Upgrading Existing Testing Tools to Fuel North America Test Automation Market
Geographically, North America held the most dominant share of 44% in the market in 2014. This region is predicted to reach US$29.78 billion by 2024, rising at a remarkable 20.3% CAGR between 2015 and 2024. This is due to the fact that this region has come up to be quite promising for numerous companies because of rising traction of QA with companies dominant in North America. In addition, the growing investments for upgrading the already present testing tools in this region will also provide impetus to the development of the test automation market here. In North America, the segment of functional testing emerged as the most dominant segment in 2015. On the other hand, the Asia Pacific test automation market is also predicted to grow at a swift pace rising at the highest growth rate in the coming years.
Introduction of Cloud-based Testing to Present Lucrative Prospects in Market
Nonetheless, as more cloud platform solutions are being introduced in the market, so organizations are constantly on the lookout to migrate their already in use complicated application to cloud. This is because of the prime advantages related to cloud-based computing such as usage-based pricing, faster time-to-market, low infrastructure and support costs, and huge scalability. Thus, the emergence of cloud-based testing presents a huge opportunity in the global test automation market, states a TMR analyst.