Navigating Growth: Insights into the Managed Testing Services Market 2024

The Business Research Company's Managed Testing Services Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 19, 2024 /EINPresswire.com/ -- The managed testing services (MTS) market, involving outsourcing testing activities to third-party providers, has witnessed substantial growth, with projections to expand from $306.44 billion in 2023 to $349.63 billion in 2024, representing a CAGR of 14.1%. This growth is attributed to factors such as increased digital platform reliance, software system complexities, globalization of businesses, regulatory compliance needs, cost efficiency pressures, and demand for specialized testing expertise.

Emerging Technologies and Digital Transformation Fuel Market Growth
The forecast period anticipates accelerated growth, with the market expected to reach $601.55 billion by 2028, growing at a CAGR of 14.5%. Key drivers include the rapid adoption of emerging technologies like AI, machine learning, IoT, and blockchain, alongside increased emphasis on cybersecurity, continuous integration and delivery, regulatory compliance, and specialized testing expertise.

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Leading Companies and Market Trends
Prominent players such as Accenture plc, IBM Corporation, Tata Consultancy Services Limited, and others are focusing on advanced solutions such as 5G network security testing to maintain a competitive edge. For instance, Nokia's ASTaR lab in Texas pioneers cybersecurity for 5G networks, ensuring robust network infrastructure security through comprehensive testing methodologies.

Key Trends Shaping the Market
Major trends include the surge in cloud-based testing platforms, integration of agile and DevOps methodologies, growth in automated testing tools, preference for outcome-based testing models, and hybrid testing approaches. These trends reflect the industry's adaptation to evolving technological landscapes and business needs.

Market Segmentation
The managed testing services market is segmented based on delivery model (Onshore, Offshore, Nearshore, Onsite), enterprise size (Small And Medium Enterprises, Large Enterprises), and industry vertical (Healthcare And Life Sciences, BFSI, Telecommunications And IT, Retail, Government And Public Sector, Media And Entertainment, Manufacturing, Energy And Utilities, Logistics And Transportation, Other Industry Verticals).

Regional Insights: Asia-Pacific Spearheads Growth
North America dominated the market in 2023, while Asia-Pacific is expected to be the fastest-growing region, driven by increasing digital transformation initiatives and technological advancements.

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Managed Testing Services Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Managed Testing Services Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on managed testing services market size, managed testing services market drivers and trends, managed testing services market major players, competitors' revenues, market positioning, and market growth across geographies. The managed testing services market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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