Market Highlights

As per Market Research Future, the global Test Management Software Market Scope has been portioned into sending, evaluating, association size, vertical, and area/country. The test management software market size is expected to enlist a dramatic CAGR of 7.1% from 2021 to 2027 and arrive at USD 515 million by 2027.

Test management software helps advancement groups make due, track, and keep up with their software tests. Not at all like test mechanization software or software testing apparatuses, test management software isn't intended to run software tests themselves. All things being equal, designers use test management answers for keep up with test cases and test brings about a construction like a storehouse, which is then transformed into noteworthy insight. Additionally, test management software coordinates with software testing apparatuses, test computerization devices, and other improvement instruments. Test management software offers test cases and conditions, which are then utilized by testing arrangements. By utilizing test management devices, organizations can monitor everything tests that may should be inspected while fostering a software item, normalizing the conditions wherein associations test their software.

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Segmentation:

The global test management software market has been segmented into deployment, pricing, organization size, vertical, and region/country.

Based on the deployment, the test management software market has been bifurcated into on-premises and cloud-based. The cloud-based deployment model holds asignificant share within the test management software market and is expected to grow with significant CAGR during the forecast period. In the last couple of years, software as a service model has gained exceptional traction among small and large businesses. Furthermore, large enterprises are utilizing cloud-based models by using a hybrid cloud approach.

Based on the pricing, the test management software market has been classified into monthly, yearly, and one-time licenses. The yearly segment holds the maximum market share within the market and is expected to grow with a substantial CAGR during the study period. This is mainly attributed to the rising demand for cloud-based subscriptions. Moreover, a one-time license holds the second-largest market share within the market. One-time license segment revenue is generated through the on-premise deployments and their maintenance & implementation cost.

Based on organization size, the test management software market has been segmented into small & medium-sized enterprises and large enterprises. Small & medium-sized enterprises hold the larger market share within the market. This can be attributed to the increasing numbers of SMB’s as well as the increased adoption of test management software. Major SMB’s are integrating test management software with the software testing software, which is the major trend witnessing within the market.

Based on verticals, the test management software market has been segmented into BFSI, IT & telecom, manufacturing, energy & utilities, healthcare & life sciences, education, aerospace & defense, and others. BFSI, IT & telecom, manufacturing, and healthcare & life sciences contribute the largest share within the market.

Based on the region, the test management software market has been segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. North America holds the leading share within the market. This can be attributed to the rapid adoption in the various industry verticals and the rise in IT spending. The industry verticals such as BFSI, manufacturing, IT & Telecom, aerospace & defense, and healthcare are the most significant contributors to revenue generation. Europe holds the second position in the global market in terms of revenue. The UK, Germany, and France are the major growth engines of the market. Moreover, the presence of several leading players in the region is also driving the market growth. Furthermore, Asia-Pacific (APAC) is expected to grow with the fastest CAGR rate during the projected period. This can be attributed to a growing number of software outsourcing destinations in this region. Organizations are rapidly adopting test management tools across large and SMEs to manage and track the software tests.

Key Players

IBM (US), National Instruments (US), SmartBear (US), Micro Focus (UK), Jama Software (US), XQual (France), TestCaseLab (Ukraine), Adaptavist (UK), Tricentis (US), PractiTest (Israel), Plutora Test (US), Inflectra (US), Test Collab (Canada), QACoverage (US), and Meliora Testlab (Finland) are the key companies of the global Test Management Software market.

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Global Test Management Software Market Research Report: Information by Deployment (On-Premises and Cloud-Based), Pricing (Monthly, Yearly, and One-Time License), Organization Size (Small & Medium-Sized Enterprises and Large Enterprises), Vertical (BFSI, IT & Telecom, Manufacturing, Energy & Utilities, Healthcare & Life Sciences, Education, Aerospace & Defense, and Others), and Region (North America, Europe, Asia-Pacific, South America, and Middle East & Africa) - Global Market Outlook to 2027

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