Yahoo Finance Software Quality Assurance Market Projected to Garner USD 14.01 Billion by 2025, at a CAGR of 9.6% - Report by Market Research Future (MRFR)
New York, USA, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Software Quality Assurance Market information by Solution, by Deployment, by Organization Size and Region – forecast to 2027” market size to reach USD 14.01 billion, growing at a compound annual growth rate of 9.6% by 2025.
Market Scope:
Software quality assurance vendors offer a comprehensive portfolio of software testing services and solutions for various enterprises across verticals. These vendors also provide highly trained and qualified quality assurance experts who can have a hands-on, end-to-end understanding of the problems that companies face and assist them in overcoming those challenges. The vendors use software testing methodologies and applications, as well as software testing laboratories, to provide businesses with services such as quality engineering, quality assurance, digital assurance, and software testing. Software testing specialists work on desktops, mobile devices, or applications to assist businesses to improve time to market and increase return on investment. The increasing demand to minimize the overall cost of production by improving quality is the driving force responsible for market growth. The rising demand for software quality assurance across verticals is expected to provide lucrative opportunities to the global market's key vendors. In addition, the introduction of advanced technologies like analytics for quality assurance is another opportunity for market vendors. Furthermore, problems related to data security in cloud-based deployments are expected to be a restraint for the growth of the market.
Dominant Key Players on Software Quality Assurance Market Covered are:
Microsoft Corporation (US)
MetricStream Inc. (US)
Oracle Corporation (US)
Siemens AG (Germany)
Unipoint Software Inc. (Canada)
Iqms Inc. (US)
Pilgrim Quality Solution Inc. (US)
EtQ Management Consultants Inc. (US)
QT9 Software (US)
Verse Solutions Inc. (US)
Cority Software Inc. (Canada)
Enablon (France)
Biovia Corp (US)
SAP SE (Germany)
Sparta Systems Inc. (US)
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Segmentation of Market Covered in the Research:
The global software quality assurance industry has been segmented based on solution, deployment, organization size, vertical, and region/country.
By solution, the global software quality assurance industry has been divided into supplier quality management, non-conformances/corrective & preventative, calibration management, change management, document control, audit management, complaint handling, employee training, and others.
By deployment, the global software quality assurance industry has been divided into cloud and on-premise.
On the basis of organization size, the global software quality assurance industry has been divided into small- and medium-sized enterprises (SME) and large enterprises.
On the basis of vertical, the global software quality assurance industry has been divided into healthcare, IT & telecom, defense & aerospace, transportation & logistics, manufacturing, consumer goods & retail, and others.
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Regional Analysis
The geographic analysis of the worldwide software quality assurance industry has been conducted for North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
North America had the largest market share, owing to a strategic change in enterprise adoption of software quality assurance solutions in response to growing demand to minimize the overall cost of production by enhancing quality. North America's economy is divided into three parts: The United States, Canada, and Mexico. The United States leads the market in North America; it is the most technologically advanced country, and there is an increasing need to improve organizational effectiveness across verticals.
Europe is projected to be the second-largest market during the review period, owing to the growing need for businesses to comply with data-protection regulations implemented by governments around the world. Cloud-based software quality assurance solution providers in European countries are obliged to comply with the European Data Protection Directive 1995 and the General Data Protection Regulation (GDPR).
During the forecast period, Asia Pacific is expected to be the fastest-growing region in the global software quality assurance market. The increasing adoption of software quality assurance solutions by large enterprises, as well as the rising demand for cloud-based software quality assurance solutions, are the primary drivers of market growth in the Asia Pacific.
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COVID-19 Impact on the Global Software Quality Assurance Market
The introduction of a range of regulations by governments around the world to deal with the COVID-19 outbreak, like a complete shutdown of manufacturing units, has been found to have an impact on the development of the global software quality assurance market.
Competitive Landscape
The global software quality assurance market is expanding rapidly as demand from industries such as transportation and logistics, as well as manufacturing, rises. Major players have chosen acquisitions, alliances, and new product development to boost their market positions as their primary organic growth strategies.
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