Digital Assurance Market Size hit USD 8.86 Billion at CAGR of 12.8%, By 2026
The growth of the market is governed by various factors such as rising digital transformation initiatives coupled with the growing use of DevOps and agile application development methodologies
Market Size – USD 3.35 Billion in 2018, Market Growth - CAGR of 12.8%, Market Trends-Emergence of countless new opportunities for test automation for lower cost and improved quality assurance
The Digital Assurance Market is expected to reach USD 8.86 Billion by 2026, according to a new report by Reports and Data. The increase in growth is mainly associated with the increase in the adoption of advanced cloud technology services that allows thousands of customers to access similar resources helping companies to cut down their expenses. Based on statistics, the penetration of advanced cloud based platforms that helps to develop new technology is also a significant factor stimulating market demand.
Digital software testing, particularly in the DevOps model helps businesses to build a quality culture that concentrates on delivering flawless results. The trend also leads to every stakeholder of integrating QA in their projects and provide positively towards reaching a common goal. The common goal is to enhance customer experience, produce quality applications, and achieve ROI. An active shift-left digital quality assurance method classifies bugs or glitches during the development stage and reduces them before the application operates the market. Thus, it inhibits any harm from affecting the business.
Due the presence of advanced economies, like the United States (US) and Canada, North America is estimated to hold the largest share of 31.3% in 2018. North America is the most developed region in the market, as almost all large enterprises are located in this region. The region’s powerful financial position also allows it to invest heavily in advanced testing tools and technologies. These improvements have provided North American organizations a competitive edge in the market.
The Key players in the Digital Assurance Market include Capgemini, Accenture Plc., Micro Focus, DXC Technology, Hexaware Technologies, Cognizant, Expleo, Maveric Systems, Wipro Limited, and Tata Consultancy Services.
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Further key findings from the report suggest
- The Digital Assurance Market is estimated to reach USD 8.86 Billion by 2026, at a CAGR of 12.8% during the forecast period.
- The Mobile technology segment is anticipated to grow at the highest rate during the forecast period.
- The Retail and Ecommerce end user is anticipated to grow at the highest rate of 13.1% during the forecast period.
- The Security Testing type segment is anticipated to grow at the highest rate of 14.0% during the forecast period.
- The Manual testing mode accounts for a larger share of 64.8% of the market in 2018.
- Digital Assurance has emerged rapidly due to the growing preference to perform tests effortlessly without any inconvenience.
- APAC is forecasted to be the fastest growing market with the highest rate of 13.2% during the forecast period. The drivers for the growth of this region are the presence of key players, favorable reimbursement policies, and rising use of technology in countries like India, China and Japan, along with several initiatives taken by the governments.
- Various players are developing strategies to mark their presence in the industry. R&D initiatives by companies to improve healthy products that have a broad application base are anticipated to create tremendous growth possibilities for industry participants.
- Several organizations across the world choose the agile environment and DevOps practice in software development. Both programmers and testers are involved in the initial steps of product creation to get it to the market quicker.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/digital-assurance-market
For the purpose of this study, Reports and Data have segmented the market on the basis of Organization size, Technology, Testing Type, Testing Mode, End User and region:
Organization size Outlook (Revenue, USD Million; 2018-2026)
- Large Enterprises
Technology Outlook (Revenue, USD Million; 2018-2026)
- Social Media
Testing Type Outlook (Revenue, USD Million; 2018-2026)
- Functional Testing
- Security Testing
- Application Programming Interface Testing
- Network Testing
- Performance Testing
- Usability Testing
Testing Mode Outlook (Revenue, USD Million; 2018-2026)
- Test Automation
- Manual Testing
End User Outlook (Revenue, USD Million; 2018-2026)
- Retail and Ecommerce
- Government and Public Sector
- Banking, Financial Services, and Insurance
Regional Outlook (Revenue, USD Billion; 2018-2026)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Market Report includes major TOC points:
- Digital Assurance market Overview
- Global Economic Impact on Industry
- Global Market Competition by Manufacturers
- Global Production, Revenue (Value) by Region
- Global Supply (Production), Consumption, Export, Import by Regions
- Global Production, Revenue (Value), Price Trend by Type
- Global Market Analysis by Application
- Manufacturing Cost Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Marketing Strategy Analysis, Distributors/Traders
- Market Effect Factors Analysis
- Digital Assurance market Forecast
Conclusively, all aspects of the Digital Assurance market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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