Press release
Codeless Testing Market to reach US$ 1.73 Bn in 2031
The codeless testing market will register exponential growth in 2021 and beyond, with the overall valuation estimated to reach US$ 1.5 Bn in 2021. Future Market Insights (FMI) projects codeless testing demand to increase at 15.5% CAGR between 2021 and 2031.Following the onset of the COVID-19 crisis, the demand for codeless testing for remote operational applications will surge through 2021. The study also forecasts desktop applications of codeless testing to account for 36.9% of market share in 2021, while API testing applications are set to register relatively faster growth at 18.6% CAGR through the end of 2031.
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The demand for codeless testing will rise at 15.5% CAGR between 2021 and 2031 in comparison to the 10.6% CAGR registered during 2016-2020. Most software testing companies have come a long way, from manual testing to mostly automated testing methods.
Due to increasing usage of AI in the development of testing tools, which can self-heal at runtime, coupled with shift towards machine learning, self-healing automation testing is expected to emerge as one of the biggest automation testing trends over the coming years.
A number of companies operating in the market are launching their new products to cater to the increasing demand for these tools. For instance, Qualitest, an India-based software testing company, announced the launch of its new AI-powered software testing and quality assurance (QA) toolkit named, Qualisense in June 2020. The tool is expected to leverage machine learning to enhance testing and quality deliveries along with reducing the need for specific testing.
A significant rise in demand for codeless testing is witnessed from small and medium enterprises (SMEs) owing to the increasing adoption of automated testing solutions. As per a study by FMI, the demand outlook for codeless testing solutions from SMEs is likely to surge at a CAGR of over 21% between 2021 and 2031.
“The unprecedented outbreak of novel coronavirus has encouraged leading vendors to emphasize on automating their IT operations to recuperate from the crisis. Besides this, numerous companies are anticipated to invest in artificial intelligence and robotic process automation (RPA), resulting in, bolstering the sales of codeless testing over the coming years,” says the FMI analyst.
Discover more about the codeless testing market analysis with figures and data tables, along with the table of contents. Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-13327
Key Takeaways from Codeless Testing Market Study
• In North America, the U.S. is leading the market and is estimated to account for a market share of over 79% in the region, owing to the presence of leading market players in the country.
• Favored by high investment in information technology infrastructure, the demand outlook for codeless testing in the U.K. is likely to grow at a CAGR of 16% over the forecast period.
• China is anticipated to account for over 44% of the codeless testing solutions sales in the East Asia market by the end of 2031.
• Due to increasing adoption of cloud-based solutions, the market in India is projected to progress at a robust CAGR of 25% through 2031.
• Based on the solution, codeless testing tools are dominating the segment, accounting for a market share of over 59.5% in 2021.
Key Drivers
• Increasing adoption of automated testing solutions is fueling the demand for codeless testing.
• Rising investment in information technology infrastructure is driving the growth of the market.
• Growing shift towards artificial intelligence is creating sales opportunities for codeless testing.
Key Restraints:
• Lack of skills required for codeless testing is hampering the market growth.
• Less scope for customization is a factor restraining the demand for codeless testing.
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Competitive Landscape
Emerging players operating in the codeless testing market are focusing on developing innovative products and engaging in strategic partnerships & acquisition to increase their market revenue share. For instance,
• Ranorex GmbH, an Austria-based company, announced the introduction of its latest version of Ranorex Studio 9.5 in March 2021
• In March 2021, Tricentis, a software testing company announced acquisition of Neotys, a company based in France to expand its AI-driven end-to-end continuous testing platforms.
Key players operating in the codeless testing market profiled by FMI are:
• Ranorex GmbH
• Katalon, Inc.
• Mabl Inc.
• Usetrace
• Perforce Software, Inc.
• Cygnet-Infotech
• Worksoft, Inc.
• Testim
• froglogic GmbH
• Statnetics LLC
• ACCELQ Inc.
• QMetry Inc.
• Micro Focus
• Tricentis
• Eggplant
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Mr. Debashish Roy
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United Arab Emirates
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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth.
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