Pune, March 20, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider, the size of Digital Assurance Market was estimated to be USD 5.17 billion in 2022 and is projected to expand to USD 14.12 billion by 2030, with a compound annual growth rate (CAGR) of 13.39% during the forecast period of 2023-2030.
Market Overview
Digital assurance encompasses various aspects of digital technology, including software testing, cybersecurity, data privacy, and compliance. It involves evaluating and testing digital products and services to identify and mitigate risks, ensuring that they meet user requirements and are fit for purpose. Organizations need to ensure that their digital assets are secure, reliable, and compliant with legal and regulatory requirements to protect themselves and their customers from potential harm.
Market Analysis
The increase in digital transformation around the globe, as well as the growing requirement for API monitoring in the digital economy, are some of the important drivers driving the growth of the digital assurance market. In different application domains, there has been a growing emphasis on increasing the use of DevOps and agile application development approaches.
Major key Company Profiles Listed in this Report Are:
- Tata Consultancy Services Limited
- Wipro
- Capgemini
- Hexaware
- Cognizant
- Cigniti
- Accenture
- Micro Focus
- Maveric Systems
- DXC Technology Company
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Digital Assurance Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | USD 5.17 Billion |
| Market Size by 2030 | USD 14.12 Billion |
| CAGR | CAGR 13.39% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Digital Assurance Market: 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) |
| Key Regional 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, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Impact of Recession on Digital Assurance Market Growth
The impact of a recession on the digital assurance market is complex and multi-faceted. While there may be challenges such as a decrease in demand and revenue, there are also opportunities for growth and expansion. As with any industry, the ability to adapt and innovate will be crucial for businesses operating in the market to survive and thrive during a recession.
Key Regional Developments
North America has indeed achieved significant progress in adopting digital technologies, agile methodologies, and DevOps for Quality Assurance (QA) and testing activities. As a result, the region is expected to hold the largest share in the digital assurance market. The adoption of these advanced technologies has helped organizations to enhance their software development lifecycle, leading to faster delivery of high-quality software applications. The adoption of digital assurance practices has become increasingly important, especially with the rising demand for software applications across various industries.
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Key Takeaway from Digital Assurance Market Study
- The market is projected to experience significant growth in the coming years, with the manufacturing vertical segment predicted to hold the largest share. This sector is expected to witness an increase in demand for digital assurance solutions due to the growing adoption of Industry 4.0 technologies, including automation, robotics, and artificial intelligence.
- The market is expected to be dominated by the cloud technology category, as companies seek to ensure the reliability, security, and quality of their cloud-based services. Cloud technology is rapidly becoming a critical aspect of modern businesses due to the need to provide highly scalable and efficient IT-enabled services to a diverse range of clients.
Recent Developments Related to Digital Assurance Market
- Apexon, a leading digital transformation and technology consulting firm, has partnered with LambdaTest, a cloud-based cross-browser testing platform, to enhance digital experience testing for their clients. The collaboration between Apexon and LambdaTest will allow Apexon's clients to accelerate their digital testing efforts by using LambdaTest's platform, which offers a wide range of testing capabilities.
- Cigniti Technologies, a global leader in providing AI & IP-led Digital Assurance and Digital Engineering services, recently celebrated Women in Technology. The company recognized and appreciated the valuable contributions made by women in the technology industry.
Table of Contents – Major Key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Digital Assurance Market Segmentation, By Testing Mode
9. Digital Assurance Market Segmentation, By Testing Type
10. Digital Assurance Market Segmentation, By Technology
11. Digital Assurance Market Segmentation, By End-Use
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion
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SNS Insider is one of the leading market research and consulting agencies that dominate the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
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