PUBLISHER: The Business Research Company | PRODUCT CODE: 1499769
PUBLISHER: The Business Research Company | PRODUCT CODE: 1499769
AI-enabled testing tools are software solutions that harness artificial intelligence technologies to automate and enhance the testing of software applications. These tools play a pivotal role in improving efficiency, accuracy, and test coverage, thereby facilitating the expedited delivery of high-quality software products. By leveraging advanced algorithms and data analytics, AI-enabled testing tools identify defects, optimize test coverage, and accelerate the software testing process.
The primary component types of AI-enabled testing tools include software and services. Software encompasses programs and applications designed to execute specific tasks or functions on computers or electronic devices. It encompasses various types such as machine learning and pattern recognition, natural language processing (NLP), and computer vision and image processing. These software solutions are utilized for test automation, infrastructure optimization, and other purposes. Furthermore, AI-enabled testing tools find applications across diverse industries including healthcare, information technology (IT) and telecommunications, energy and utilities, banking, financial services, and insurance (BFSI), government sectors, among others.
The AI-enabled testing tools market research report is one of a series of new reports from The Business Research Company that provides AI-enabled testing tools market statistics, including AI-enabled testing tools industry global market size, regional shares, competitors with an AI-enabled testing tools market share, detailed AI-enabled testing tools market segments, market trends, and opportunities, and any further data you may need to thrive in the AI-enabled testing tools industry. This AI-enabled testing tools market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The AI-enabled testing tools market size has grown exponentially in recent years. It will grow from $0.35 billion in 2023 to $0.45 billion in 2024 at a compound annual growth rate (CAGR) of 29.2%. The expansion observed in the historical period can be attributed to several factors, including the growing complexity of software applications and systems, a strong emphasis on quality assurance and testing efficiency, the widespread adoption of agile and DevOps practices, increasing awareness about the benefits of AI-enabled testing tools, and the availability of large volumes of data for testing purposes.
The AI-enabled testing tools market size is expected to see exponential growth in the next few years. It will grow to $1.27 billion in 2028 at a compound annual growth rate (CAGR) of 29.4%. The projected growth in the upcoming period is expected to be driven by several factors, including an increasing focus on shift-left testing methodologies, a rising adoption of cloud-based testing solutions, a surge in cybersecurity threats, and the expansion of IoT and edge computing technologies. Key trends anticipated in the forecast period encompass the adoption of shift-left testing practices to address issues earlier in the development cycle, the uptake of cloud-based testing solutions for enhanced scalability and flexibility, the adoption of advanced security testing capabilities to mitigate cybersecurity risks, integration with intelligent automation platforms to streamline testing processes, and the continued adoption of agile and DevOps practices to accelerate software delivery.
The rapid expansion of digital transformation is set to drive the growth of the AI-enabled testing tools market in the coming years. Digital transformation involves the integration of digital technologies into all aspects of business operations, fundamentally altering how organizations function and deliver value to customers. This surge in digital transformation is fueled by evolving consumer behaviors, the imperative for increased efficiency and agility, and the growing demand for enhanced customer experiences. The heightened focus on digital transformation creates a surge in demand for AI-enabled testing tools, as businesses seek faster and more accurate testing processes to seamlessly integrate digital technologies into their operations. For example, a report from the European Investment Bank in May 2023 indicated that 42% of European firms and 50% of firms in the United States pursued additional investments in digitalization in 2022 compared to the previous year, highlighting the momentum behind digital transformation initiatives. Therefore, the escalating trend of digital transformation is a key driver for the AI-enabled testing tools market.
Companies operating in the AI-enabled testing tools market are at the forefront of developing advanced technological solutions, such as MagnifAI, which harnesses artificial intelligence (AI) to automate and optimize quality assurance processes. MagnifAI leverages AI algorithms to analyze complex visual testing scenarios, detect subtle differences between expected and actual product appearances, and automate the evaluation of large volumes of visual assets. For instance, Globant S.A., a Luxembourg-based software solutions company, launched MagnifAI in June 2022, aiming to enhance and simplify quality assurance in intricate visual testing scenarios. This AI-powered solution improves product quality, reduces maintenance time, accelerates time-to-market, and lowers costs for businesses across diverse industries. MagnifAI's automation capabilities are particularly crucial in industries like gaming, where identifying discrepancies in user experience can significantly impact success.
In January 2024, SmartBear Software Inc., a US-based telecommunications company specializing in software testing and visibility solutions, acquired Reflect Software Inc. to bolster its AI strategy and capabilities. The acquisition integrates Reflect's AI-based testing solutions with SmartBear's existing innovations in AI test automation, enhancing their offerings in the AI-enabled testing tools market. Reflect Software Inc. is known for providing AI-enabled testing tools, aligning with SmartBear's vision to deliver comprehensive and advanced solutions to meet evolving industry needs.
Major companies operating in the AI enabled testing tools market are Amazon Inc., International Business Machines Corporation, Oracle Corporation, Keysight Technologies Inc., Open Text Corporation, Micro Focus International Plc, Cloudera Inc., Nuro Inc., Perforce Software Inc., Tricentis LLC, Indium Software Inc., QASource Inc., SenseTime Group Limited, SmartBear Software Inc., Sauce Labs Inc., Applitools Ltd., BugRaptors Solutions Pvt. Ltd., AccelQ Inc., Functionize Inc., Diffblue Ltd., SeaLights Technologies Ltd., Mabl Inc., Vegavid Technology, ReTest GmbH, TestRigor Inc
North America was the largest region in the AI-enabled testing tools market in 2023. The regions covered in the AI enabled testing tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the AI enabled testing tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The AI-enabled testing tools market consists of revenues earned by entities by providing services such as software development, consulting, training, and support. The market value includes the value of related goods sold by the service provider or included within the service offering. The AI-enabled testing tools market also includes sales of test automation platforms, test data generation tools, and test script generation tools. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
AI Enabled Testing Tools Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on AI enabled testing tools market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for AI enabled testing tools? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The AI enabled testing tools market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.