Press release
Test Automation Market - Global Scenario, Revenue, Share, Forecast up to 2024
Industry Brochure Download: http://bit.ly/2cPoyaf
High operating costs that make large investments necessary have presently emerged as major bottlenecks in the market. Nevertheless, growth of technologies such as big data analytics, cloud computing services, and data virtualizations will augment opportunities for the market in the forthcoming years.
As per Transparency Market Research (TMR), the global test automation market, which in 2015 had a valuation of US$12.91 bn, is expected to reach US$85.84 bn by the end of 2024.
Opportunities for Proliferation of Test Automation in North America are Spiraling
During the forecast period, TMR expects North America to be at the fore of the global test automation market. The region has proven lucrative for most companies due to the increasing traction of QA within organizations located in North America. In 2015, prospects for functional testing was the most lucrative within the North America test automation market. Growth exhibited by this region is majorly supported by the increasing investment to upgrade existing testing tools and in outsourced resources.
As per TMR, the market for test automation in North America, which stood at US$5.70 bn in 2015, is expected to be worth US$29.78 bn by 2024. The region is thus likely to exhibit a CAGR of 20.3% during the forecast period. The region also held approximately 44% in the overall market in 2014. It is also expected to report lucrative prospects for security testing. The rapid deployment of mobile applications and Software as a Service (SaaS) on cloud will be dominant in driving market for test automation in North America.
The demand for test automation is also rising at a considerable pace in Asia Pacific. The matured IT infrastructure and high levels of automation in the region present a strong future outlook for the test automation market. The Asia Pacific market for test automation is expected to report the highest CAGR, reports TMR.
Read more: http://bit.ly/2d37ArZ
Demand for Functional Testing to be Highest during Forecast Period
By type, sale from the functional testing segment is expected to be highest during the forecast period, followed by mobile testing and QA process design. The functional testing segment accounted for the dominant share of 23.2% in the market in 2015. It is expected to significantly gain from the continuously growing agile development practices.
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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