PUBLISHER: The Business Research Company | PRODUCT CODE: 1503847
PUBLISHER: The Business Research Company | PRODUCT CODE: 1503847
Managed testing services (MTS) entail outsourcing an organization's testing activities to a third-party service provider. These services typically encompass planning, executing, and managing various testing activities across the software development lifecycle, offering expertise in testing methodologies, tools, and processes to ensure the quality and reliability of software products. Managed Testing Services provide numerous benefits to organizations, including cost savings, access to specialized testing expertise, flexibility to scale resources based on project needs, and improved focus on core business activities.
The delivery model of managed testing services includes onshore, offshore, nearshore, and onsite options. Onshore testing services are provided within the same country where the client's business is located. The enterprise sizes involved range from small and medium enterprises to large enterprises, spanning sectors such as healthcare and life sciences, banking, financial services, and insurance (BFSI), telecommunications and information technology (IT), retail, government and public sector, media and entertainment, manufacturing, energy and utilities, logistics and transportation, and other industry verticals.
The managed testing services market research report is one of a series of new reports from The Business Research Company that provides managed testing services market statistics, including managed testing services industry global market size, regional shares, competitors with managed testing services market share, detailed managed testing services market segments, market trends, and opportunities, and any further data you may need to thrive in the managed testing services industry. This managed testing services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The managed testing services market size has grown rapidly in recent years. It will grow from $306.44 billion in 2023 to $349.63 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth observed during the historic period can be attributed to several factors, including increased reliance on digital platforms, the complexity of software systems, globalization of businesses, regulatory compliance requirements, cost efficiency pressures, and the demand for specialized testing expertise.
The managed testing services market size is expected to see rapid growth in the next few years. It will grow to $601.55 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The anticipated growth in the forecast period can be attributed to the rapid adoption of emerging technologies, a heightened focus on cybersecurity, globalization of businesses, the demand for continuous integration and delivery, evolving regulatory compliance requirements, and the rising need for specialized testing expertise. Major trends expected during the forecast period include the emergence of technologies such as artificial intelligence, machine learning, IoT, and blockchain, a surge in the adoption of cloud-based testing platforms, an emphasis on security testing, the integration of agile and DevOps methodologies into testing processes, a proliferation of automated testing tools and frameworks, a growing preference for outcome-based testing models, and the rise of hybrid testing approaches.
The rise of digital transformation is anticipated to drive the expansion of the managed testing services market in the coming years. Digital transformation involves incorporating digital technologies, such as computers or handheld devices, into tasks or operations, commonly referred to as digital activities. This trend is increasing as industries recognize its potential to enhance efficiency, productivity, and competitiveness through the utilization of advanced technologies and data-driven insights. Managed testing services play a crucial role in digital transformation by ensuring the smooth adoption and optimization of evolving digital technologies and processes. For example, in October 2023, the Australian Bureau of Statistics reported that total digital business activity in Australia rose from 7.7% in 2021 to 8.6% in 2022, highlighting the growing importance of digital transformation and its impact on the market for managed testing services.
Key players in the managed testing services market are concentrating on innovative solutions, such as 5G network software security testing solutions, to gain a competitive advantage. 5G network security testing involves evaluating the strength and resilience of 5G networks, including software, hardware, and applications, to identify and address potential weaknesses and risks, thereby ensuring the integrity and security of the network infrastructure. For instance, in May 2022, Nokia launched the Advanced Security Testing and Research (ASTaR) lab in Texas, the first-of-its-kind 5G testing facility in the U.S. focused solely on cybersecurity. ASTaR employs a comprehensive approach to cybersecurity, examining broader network use and abuse scenarios beyond individual network elements. This dedicated lab pioneers cutting-edge tools and methodologies to assess the security resilience of 5G networks, including associated software, hardware, and applications, aiming to proactively identify and mitigate potential vulnerabilities and enhance the integrity of 5G infrastructure.
In February 2024, Eurofins S&L-T&H acquired Modern Testing Services to strengthen its leadership in the consumer products testing, inspection, and certification (TIC) sector, leveraging MTS's esteemed reputation and solid customer base, particularly in North America. Modern Testing Services, based in China, specializes in testing, inspection, and quality assurance.
Major companies operating in the managed testing services market are Accenture plc, International Business Machines Corporation, Tata Consultancy Services Limited, NTT Data Corporation, Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, DXC Technology Company, HCL Technologies Limited, Atos SE, Wipro Limited, CGI Inc., Virtusa Corporation, Tech Mahindra Limited, EPAM Systems Inc., UST Global Inc., Expleo Group, Larsen & Toubro Infotech Limited, Qualitest Group Limited, Hexaware Technologies Limited, Zensar Technologies Limited, TestingXperts Private Limited, Tricentis AG, QASource Inc., ThinkSys Inc., QA Consultants Inc., Testbirds GmbH, Testlio Inc.
North America was the largest region in the managed testing services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the managed testing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the managed testing services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The managed testing services market includes revenues earned by entities by providing services such as test planning, execution, automation, and reporting. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
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.
Managed Testing Services 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 managed testing services 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 managed testing services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The managed testing services 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.