Software testing, a process of running various application or programs, to identify bugs in the software and assist software in becoming an error-free solution to cater to user requirements. It is a detailed methodology to verify and validate the software code or program and help in developing efficient software, to meet technical and business requirements. There are various types of software test such as integration testing, unit testing, functional testing, performance testing, and usability testing among others.
The global software testing market is valued at USD ~17.1 billion in 2019 and expected to reach ~USD 29.3 billion by 2024, growing with a CAGR of 11.6% during the forecast period. The high growth of the software testing market is attributed to the growing need to offer hassle-free end-users experience with reduced time-to-market coupled with the incorporation of cutting edge technologies such as Artificial Intelligence and Machine Learning technology. Approximately 20 to 30 percent of the development lifecycle is spent on testing, where testing accounts for ~20-25 percent of total IT spend across the world. Currently, India is one of the biggest stakeholders in the global software testing market owing to the availability of major Indian players in the global market.
In the current scenario, the growth in the adoption of both Agile and DevOps helps the testing and development teams to develop and deliver quality software faster, which in turn is also called as “Quality of Speed”. This adoption rate has gained more interest over the past couple of years and continues to intensify in the upcoming years as well. Moreover, ~81% of enterprises have adopted or plan to adopt DevOps globally. The tremendous growth of big data analytics, cloud computing, automation in industries, and Internet of Things (IoT) is expected to propel the global software testing market to transfigure the software testing approaches.
The growing number of enterprises are adopting the agile methodology as a part of continuous integration in software development across the world. Of late, the software market is becoming more dynamic than ever with software product life cycle shortening, companies and developers want to introduce or launce their products as early as possible. This, in turn, enterprises are increasingly adopting automated software testing to reduce the turnaround time (TAT) and also optimize the efficiency of testing software. Additionally, the implementation of an automation testing framework provides optimum coverage of the test suite and help enterprises derive tangible benefit from test automation. For instance, In June 2019, SmartBear acquired Cucumber, known for its open-source test automation framework, “Cucumber”. With Cucumber’s Behavior-Driven Development (BDD) community and last year’s acquisition of HipTest, SmartBear is in the position to offer the complete BDD offering in the market.
The increasing adoption of automated testing services is one of the key drivers that will fuel the growth of the software testing services market size. Various companies such as Uber, Bitcoins, and Fitbits among other companies are using IoT, sensors, and Big Data in their software applications and services. The implications of these trends can be seen in the software testing market. The software testing market is posed by the threats of cyber security and challenges to offer integration as well as quality services in the software while maintaining shortened software development cycles to keep up with the complexity and continuously changing dynamics of the software market. As the emerging trends are providing overwhelming prospects to software market, they are bringing disruptions in the testing market.
Why is Software Testing Important?
Software testing is most important because software bugs could be dangerous and even expansive. Software bugs can potentially cause monetary and human loss.
In 2016, Nissan cars have to recall over 1 million cars from the market due to software failure in the airbag sensory detectors. There has been reported two accident due to this software failure.
Starbucks was forced to close about 60 percent of stores in the U.S and Canada due to software failure in its POS system. At one point store served coffee for free as they unable to process the transaction.
In April 2015, Bloomberg terminal in London crashed due to software glitch affected more than 300,000 traders on financial markets. It forced the government to postpone a 3bn pound debt sale.
Uber developed self-autonomous software for a self- driving car, it was a new milestone for the company. However, the self-driving car crash had fatal results when it led to death of a woman in Arizona. Uber had to question its self- driving car software on the issue which was followed by mass media outrage on the fatality that a software bug might have caused.
Analyst Comment: The exponential and unprecedented change in technology affects the way in which the organizations develop, validate, deliver, and operate the software. The software testing market applications are being increasingly used in BFSI sector, manufacturing, healthcare and automotive industry. In banking, financial and insurance sector, the testing of these software applications is of paramount importance as minuscule error can cause catastrophic losses to banking firms. Additionally, the growth in the number of regulatory guidelines mandating the upgrade of the banking software infrastructure is also promoting its use in the industry. The widespread integration of IoT devices and the high degree of automation in manufacturing sector are the other key factors supplementing the growth of the very market. Hence, these organizations must consistently innovate and revamp themselves through finding the solution to optimize practices and tools to develop and deliver high-quality software quickly.