Digital Assurance Market Research by Key players, Type and Application, Future Growth to 2022

Digital Assurance Market

MarketsandMarkets expects the global Digital Assurance Market size to grow from USD 2.90 billion in 2017 to USD 5.47 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 13.5%. The major drivers of the digital assurance market include the increased implementation of digital transformation initiatives, growing need of Application Programming Interface (API) monitoring, and increasing use of agile and DevOps methodologies, and test automation in testing activities.

The open source technology offers a huge potential in terms of reduced costs, increased control, and the flexibility to adapt to any environment. Open source is being embraced by many organizations for their testing and Quality Assurance (QA) activities. Moreover, open source offers the access to open source community, which enables the exchange of new information and keeps enterprises updated with new tools and techniques. The open source testing tools have revolutionized QA and testing. These tools are built on open standards, and are customizable and platform-independent. A few widely used open source testing tools are Selenium, Appium, JUnit, Sahi, Robotium, WebLOAD, Capybara, Selendroid, and JMeter. These tools can perform various tests, ranging from functional, performance, security, automation, and API, to compatibility testing.

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The scope of this report covers the digital assurance market analysis by testing mode, testing type, technology, organization size, vertical, and region. In the testing mode segment, test automation is expected to grow at a higher CAGR due to increased implementation of automation across testing environments to achieve accelerated time-to-market and reduce the application downtime. In the testing type segment, security testing is expected to grow at the fastest rate owing to the growing need to secure the potential vulnerabilities across organizations’ digital ecosystem. In the technology segment, the mobile technology is expected to grow at the fastest rate due to the proliferation of smartphones and mobile applications. Furthermore, Bring Your Own Device (BYOD) is also boosting the demand for mobile testing services. In the organization size segment, the Small and Medium-Sized Enterprises (SMEs) segment is expected to grow at a faster rate, owing to the increased adoption of digital technologies that leads to comprehensive testing requirements. Among verticals, the retail and eCommerce vertical is expected to grow at the fastest rate, as the retailers are focused on assuring their application landscapes to offer a better customer experience and optimize their operating costs.

As per the geographic analysis, Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period, due to strong growth in terms of digital transformation and growing demand for digital testing services. Companies in this region have already invested significant resources on DevOps methodologies to accelerate the time-to-market. The major countries that are expected to witness high growth rates in this region include China, India, Japan, Singapore, New Zealand, and Australia.

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The key market players profiled in this report are Accenture (Ireland), Capgemini (France), Cognizant (US), Micro Focus (UK), Cigniti (India), Hexaware (India), SQS (Germany), TCS (India), and Wipro (India). These players offer digital assurance solutions and services, catering to the needs and demands of the market. They have adopted various growth strategies, such as partnerships, agreements, and collaborations; business expansions; and new product launches. The strategy of partnerships, agreements, and collaborations has been the major growth strategy, followed by new product launches.