NEW YORK, Oct. 27, 2023 /PRNewswire/ — The “test environment as a service market by application (large enterprises, small, and medium enterprises), type (cloud-based, on-premise, and testing as a service offering), and geography (North America, Europe, APAC, South America, and Middle East and Africa) – Forecast and Analysis 2023-2027″ report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the test environment as a service market from 2022 to 2027 is USD 16.45 billion.

The reduction in the cost of application development and time is a key factor driving market growth. Companies are focusing on reducing total CAPEX costs by adopting new technologies. Building and running on-premises applications is complex, expensive, and time-consuming. Traditionally, each on-premises application required hardware, an operating system, a database, middleware, servers, and software. Additionally, businesses can use a single development platform if needed and pay as needed, reducing the additional costs of building different platforms. With all the features of TeaaS, organizations can deploy applications and products in shorter time frames. Hence, these factors are expected to drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge

The availability of open-source and free testing tools is a significant challenge restricting market growth. The open-source TeaaS platform has source code that is easily accessible and available on web portals. Most of these tools are developed by and for a large community of software engineers. The accessibility of open-source TeaaS tools has a negative impact on the revenue of proprietary test tool companies.

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• The market share growth by the large enterprises segment will be significant during the forecast period. To meet these requirements, big companies have heavy IT requirements and TeaaS offers many benefits like low cost, zero maintenance, and optimization of the resources in order to be able to handle it. Without investing in expensive hardware or software, large organizations can leverage TeaaS to scale their IT infrastructure quickly and efficiently. Furthermore, the growing demand for TeaaS is due to the increasing adoption of cloud computing by large enterprises as well as the availability of new and innovative cloud solutions and services. Hence, these factors are expected to drive segment growth during the forecast period. 

• North America is estimated to contribute 42% to the growth of the global market during the forecast period.

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Key Companies in the test environment as a service market:

Accenture Plc, Atos SE, Broadcom Inc., Capgemini Service SAS, CloudShare Inc., Cognizant Technology Solutions Corp., HCL Technologies Ltd., HP Inc., Infosys Ltd., Infotree, International Business Machines Corp., ITC Ltd., KPIT Technologies Ltd., Wipro Ltd., and Zettabytes Inc.

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The Enterprise Governance, Risk, and Compliance (eGRC) Solutions Market size is estimated to grow at a CAGR of 12.38% between 2022 and 2027. The market size is forecast to increase by USD 23,133.67 million. 

ToC:

Excustive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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