Report Scope & Overview:
The Digital Assurance Market size was valued at USD 5.17 Bn in 2022 and is expected to reach USD 14.12 Bn by 2030, and grow at a CAGR of 13.39% over the forecast period 2023-2030.
In today's digital world, organizations must accomplish a successful digital transformation while simultaneously providing trustworthy digital quality assurance to prevent degrading the consumer experience. Standard quality assurance has sufficed to deliver a better customer experience and integrated testing of various embedded software, digital devices, and big data. Not only does digital assurance include the testing of apps for various platforms such as social, mobile, internet of things, and big data, but it also includes the assurance of projected business results as a result of digital transformation initiatives. Digital assurance includes network capabilities, interoperability, optimal performance, and enhanced security, all of which contribute to a better customer experience.
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In the current market context, organizations must focus more on creating seamless experiences than on responding to customer requests for products and services. By leveraging digital assurance's omnichannel capabilities, organizations may provide automated solutions with improved accessibility, a more seamless experience, and decreased wait time. Furthermore, the digital revolution has given rise to a slew of new security dangers.
Digital Transformation is Making Way for Digital Security.
The Growing Adoption of Agile and DevOps Methodologies in SDLC.
The growing use of test automation reduces operational costs while improving QA.
API Monitoring is becoming increasingly important in the digital economy.
Shadow IT is a major risk area for businesses.
Testing Advances Through the Use of AI and Machine Learning Technologies.
Service virtualization provides a risk-free testing environment.
Open-Source Testing Instruments Investigate Untapped Potential.
Inadequate Knowledge and Reluctance to Adopt New Testing Methods.
Inadequate test coverage, ranging from testing every possible input to testing every possible variable.
IMPACT OF COVID-19:
Due to lockdowns, travel bans, and commercial shutdowns, COVID-19 has had an impact on economies and businesses in a number of nations. The closure of numerous facilities and companies has disrupted global supply chains, severely impacting manufacturing, delivery schedules, and product sales in the worldwide market. Few corporations have already acknowledged potential delays in product delivery and sales slumps in the future. Furthermore, worldwide travel bans enforced by nations in Europe, Asia-Pacific, and North America are having an impact on commercial cooperation and partnership prospects.
During the projected period, manual testing is predicted to hold the biggest market share. Before a software product is published to the public, manual testing is done to detect bugs and feature concerns. Manual testing is used by the tester to analyze the critical aspects of a software product. Analysts conduct test cases and generate summary error reports without the usage of specialized automation tools.
Security testing is predicted to be a rapidly rising sector. The functional testing type is expected to have the largest market share during the projection period due to increased demand for validating and verifying the performance of software or applications that execute in compliance with requirement specifications. Security Testing is expected to expand at the quickest CAGR throughout the projected period, as vulnerabilities have gotten more complex and sophisticated, boosting the demand for Security Testing to address risks.
The Cloud technology category is predicted to have the largest market share due to the growing need to supply very scalable IT-enabled capabilities to various clients that employ internet technologies. Cloud technology is extensively utilized by organizations all over the world since it is cost-effective and can be established even with minimal IT infrastructure. The Mobile technology category is expected to develop at the quickest rate due to the rising usage of mobile devices to access the internet, business data, communication, and tailored information. Mobile technology has advanced over time and is now commonly utilized to speed up company procedures.
During the projected period, the Manufacturing vertical is predicted to hold the greatest market share. Because digital testing in the Manufacturing vertical enables highly efficient and automated Manufacturing tests, select a wireless communication tester for sophisticated Manufacturing devices to perform non-signaling tests on connected devices and support cellular and non-cellular standards. Because of the increasing expansion of Ecommerce and its numerous applications, which demand the need for digital assurance, the Retail and eCommerce industry is expected to grow at the quickest rate.
KEY MARKET SEGMENTS:
On The Basis of Testing Mode
On The Basis of Testing Type
Application Programming Interface Testing
On The Basis of Technology
On The Basis of End-Use
Retail and Ecommerce
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The Asia Pacific area is predicted to develop significantly, thanks mostly to the region's economy, which has enormous potential to progress toward digital transformation. As the area has advanced toward a digital future, COVID-19 has increased the urgency by bringing instances such as workplaces, customer, and partner engagement online. With the increased change, quality assurance must also manage many competing agendas. These include the need to accommodate a fast-changing technological landscape as well as the demand for greater speed in delivering both while assuring omnichannel user experiences. Furthermore, growing economies such as India are embracing the digital revolution, which is being driven by government programs and technical vendor investments.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
Maveric Systems -Company Financial Analysis
|Market Size in 2022||USD 5.17 Billion|
|Market Size by 2030||USD 14.12 Billion|
|CAGR||CAGR 13.39% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Testing Mode (Manual Testing and Test Automation)
• by Testing Type (Application Programming Interface Testing, Network Testing, Performance Testing, Security Testing, and Others)
• by Technology (Mobile, Cloud, Analytics, and social media)
• by End-Use (BFSI, Retail and eCommerce, Manufacturing, and Others)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, +D11UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Tata Consultancy Services Limited, Wipro, Capgemini, Hexaware, Cognizant, Cigniti, Accenture, Micro Focus, Maveric Systems, and DXC Technology Company|
|Key Drivers||•Digital Transformation is Making Way for Digital Security.
•The Growing Adoption of Agile and DevOps Methodologies in SDLC.
|Market Restraints||•Shadow IT is a major risk area for businesses.|
Ans: - The Digital Assurance market size was valued at 5.17 Bn in 2022.
Ans: - Digital Transformation is Making Way for Digital Security and the growing use of test automation reduces operational costs while improving QA.
Ans: - The Digital Assurance Market is to grow at a CAGR of 13.39% over the forecast period 2023-2030.
Ans: - The major key players are Tata Consultancy Services Limited, Wipro, Capgemini, Hexaware, Cognizant, Cigniti, Accenture, Micro Focus, Maveric Systems, and DXC Technology Company.
Ans: - The study includes a comprehensive analysis of Digital Assurance Market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter's five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
126.96.36.199 United Kingdom
188.8.131.52 South Korea
184.108.40.206 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Digital Assurance Market Segmentation, by Testing Mode
8.1 Manual Testing
8.2 Test Automation
9. Digital Assurance Market Segmentation, by Testing Type
9.1 Application Programming Interface Testing
9.2 Network Testing
9.3 Performance Testing
9.4 Security Testing
10. Digital Assurance Market Segmentation, by Technology
10.4 social media
11. Digital Assurance Market Segmentation, by End-Use
11.2 Retail and Ecommerce
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Tata Consultancy Services Limited
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.8 Micro Focus
13.9 Maveric Systems
13.10 DXC Technology Company
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
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The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
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We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
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