The software testing services market in ANZ is expected to grow by USD 569.74 million, progressing at a CAGR of over 12% during the forecast period. The market is fragmented due to the presence of several global and domestic players that are focused on offering more reliable software testing services and enlarging their consumer base to increase their revenues. Factors such as increasing adoption of software products to streamline processes and the need to decrease the time and cost associated with processing will be crucial in driving the growth of the market over the forecast period.
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Technavio has announced its latest market research report titled Software Testing Services Market in ANZ 2020-2024 (Graphic: Business Wire).
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The need for cost reduction and faster time-to-market is one of the major factors propelling the market growth. Software testing services help organizations to enhance their overall operational efficiency. These services help organizations focus on core competencies and gain a competitive edge in the market. The time saved by transferring software testing functions to service providers reduces the overall time-to-market, thereby reducing overall operational expenditure. However, factors such as the availability of open-source and free testing tools might challenge growth.
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Software Testing Services Market In ANZ: Product Landscape
Based on the product, the market generated maximum revenue in the application testing segment in 2019. The growth of the segment is attributed to factors such as the proliferation of mobile applications, increase in e-commerce spending, and the rising adoption of smartphones. The market growth in the segment will be significant over the forecast period.
Software Testing Services Market In ANZ: End-user Landscape
Based on the end-user, the market witnessed maximum demand from the BFSI sector. Rapid transformation in terms of updates in legacy IT infrastructure to implement new and advanced technologies that cater to consumers’ needs is one of the key factors driving the growth of the segment. Besides, the high vulnerability of the BFSI sector to cyberattacks is further fueling the segment growth.
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Companies Covered:
- Accenture Plc
- Atos SE
- Capgemini Services SAS
- Cognizant Technology Solutions Corp.
- DXC Technology Co.
- HCL Technologies Ltd.
- Infosys Ltd.
- International Business Machines Corp.
- Tata Consultancy Services Ltd.
- Wipro Ltd.
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, until 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Key Topics Covered:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Fiver forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Application testing – Market size and forecast 2019-2024
- Product testing – Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- BFSI – Market size and forecast 2019-2024
- Telecom and media – Market size and forecast 2019-2024
- Manufacturing – Market size and forecast 2019-2024
- Retail – Market size and forecast 2019-2024
- Government – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by End-user
Customer landscape
- Overview
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendors landscape
- Landscape disruption
- Competitive scenario
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Accenture Plc
- Atos SE
- Capgemini Services SAS
- Cognizant Technology Solutions Corp.
- DXC Technology Co.
- HCL Technologies Ltd.
- Infosys Ltd.
- International Business Machines Corp.
- Tata Consultancy Services Ltd.
- Wipro Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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