Automation Testing Market Opportunity and Demand Analysis Report by 2027

The research documentation on the Automation Testing Market elucidates details about the drivers and constraints, regional growth opportunities, market size, along with competitive spectrum, prominent contenders in the market, and segmental analysis.



5 months ago | 3 min read

Global Automation Testing Market size is forecast to exceed $40 billion by 2027.Software and tech products have become highly advanced and sophisticated with the rise of automation over the years. The utilization of industry to help ease the workload and detect bugs, defects, and other issues is therefore projected to increase rapidly, a trend that became particularly apparent during the coronavirus crisis.

In 2022, Hiroshima University implemented an automated system for COVID-19 sample preparation, which had become a major bottleneck in the analysis and testing for the virus. This approach enabled the processing of up to 1,080 samples per day. Considering the growing risks of infection through manual testing processes, developments like these will generate opportunities for automation testing market expansion.

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The escalating number of tech-savvy consumers and the resultant increase in demand for smart home-connected devices is another factor bolstering the deployment of different types of automation testing market services. As per data from MediaPost, 69% of U.S. households have at least one smart home device, while 12% or 22 million homes have several. Since devices on the smart home network must be tested for security, functionality, and scalability, the use of tools will rise commendably.

Due to the rising complexity of data, the inefficiency of back offices, regulatory scrutiny, and outdated legacy systems, the BFSI (baking, financial services, and insurance) industry requires intelligent solutions. Based on a Global Market Insights Inc. report, the BFSI segment accounted for over 15% of the automation testing market share in 2020 and is slated to depict a CAGR of 12.5% through 2027.

In the finance sector, intelligent automation testing market solutions can help facilitate consistent monitoring of real-time transactions and analysis of patterns to detect fraudulent activities. According to the Federal Trade Commission, American consumers reported a loss of above $5.8 billion to fraud in 2021, more than a 70% hike from $3.4 billion in 2020. Situations such as these could encourage fintech businesses to adopt industry frameworks to prevent financial fraud.

The rise of e-commerce is also becoming a major contributor to the proliferation of automation testing market businesses. As per statistics from the U.S. Department of Commerce Retail Indicator Division, online sales registered around $870 billion in 2021, an increase of 14.2% over 2020. This will encourage businesses to use intelligent automation to power AI tech that records consumer data and make recommendations through automation of testing and other procedures.

Governments have been placing a major emphasis on augmenting IT spending. MENA (the Middle East and North Africa) governments, for example, are expected to invest around $13.3 billion in the IT sector in total in 2022, with $3.9 billion allotted for telecom services. This factor could escalate the use of automation solutions to help service providers in the data-intensive telecom sector enhance the quality of network operations through the automation of remediation, testing, addressing, and maintenance procedures.

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In countries like Israel, healthcare expenditure has also continued to rise. According to the Central Bureau of Statistics, national expenditure on health rose by 5.2% at constant prices in 2020, as compared to 2019. This factor could boost the productivity of the automation testing market since intelligent test automation tools are essential in allowing healthcare software to seamlessly work with medical equipment to improve patient care as well as reduce costs.

With the escalating number of tech-savvy individuals, the process of testing software and tech products is becoming highly crucial to eliminate human errors and meet strict requirements. Moreover, due to the rising complexity of data in industrial sectors like telecom and BFSI, the need to automate product and software testing is increasing. Since the rate of fraudulent activities has rapidly surged, the shift away from manual to automation testing market framework will gain traction over the years ahead.

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