According to a recent market analysis report by Future Market Insights, the crowdsourced testing market is experiencing rapid growth, with global sales estimated to reach US$ 2.90 billion in 2023. Projections indicate a strong CAGR of 9.3% from 2023 to 2033, suggesting that the market is poised to achieve a remarkable valuation of US$ 7.09 billion by 2033. This surge in demand highlights the increasing adoption of crowdsourced testing as an effective and efficient method for software testing across various industries.
Crowdsourced testing is pivotal in software and applications testing, utilizing an external group of testers from diverse demographics and backgrounds. This approach harnesses the crowd’s intelligence to identify bugs, streamline interactive software manufacturing, and enhance software products.
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One of the significant advantages of crowdsourced testing is its scalability, benefiting both enterprises and testers. Enterprises can rely on the valuable feedback provided by external testers. This allows them to evaluate their software’s performance across various devices, operating systems, and user scenarios. Additionally, testers can participate in testing projects for multiple companies, offering flexibility and earning potential.
The rapid digital transformation has led to a surge in technological adoption worldwide. This leads to an increase in the usage of digital products and software. Consequently, it has become imperative for businesses to adopt effective approaches to test their applications strategically. This ensures an enhanced consumer experience and guards against potential threats from bugs and glitches. In response to this growing need, businesses have significantly increased their investments in end-user testing solutions, particularly in crowdsourced testing. This upswing in demand has created a thriving market for crowdsourced testing services.
In the crowdsourced testing market context, there are legitimate concerns surrounding privacy breaches and the sharing of sensitive information with external testers, especially when dealing with proprietary software. These apprehensions could potentially hinder the growth prospects of crowdsourced testing services. Additionally, a challenge faced by the industry is the scarcity of highly skilled testers in specific domains. This may lead to oversights during the testing process, potentially impacting the thorough evaluation of crucial functionalities.
Key Takeaways
- The report by FMI suggests that the Asia Pacific region is poised to become a significant growth area in the forecast period. According to the report, India is expected to experience substantial growth with a CAGR of 12.3% through 2033, while China is projected to grow at a CAGR of 10.3%. These growth rates indicate promising opportunities for businesses and investors in the region.
- North America is expected to retain a prominent position in the crowdsourced testing market, primarily due to government support provided to major regional players. Additionally, continuous technological advancements are further bolstering the market growth in this region. As of 2022, the United States held a substantial global market share of 18.4%, underscoring its significance in the industry’s landscape.
- After North America, Europe holds a significant portion of global market shares and is expected to experience rapid growth in the forecast period. In 2022, Germany accounted for a global market value of 7.0%, indicating its notable presence in the industry. The crowdsourced testing market in Europe is thriving, driven by the presence of established players and the continuous expansion of the IT sector, which further enhances its potential for growth and innovation.
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Competitive Landscape
Intense competition in the crowdsourced testing market has compelled key companies to focus on reducing manufacturing and production costs, aiming to gain a competitive edge over their rivals. Numerous companies are resorting to strategic approaches like mergers and acquisitions to broaden their consumer base and expand their businesses. The market landscape is a dynamic mix of established players currently dominating the market and several startups and emerging players making their mark. Companies are offering specialized testing services and enhancing their testing platforms to expand their global testing community.
Recent Market Developments
- June 2023: Infosys, a world leader in next-generation digital services and consulting, entered a partnership with Skillsoft, a leading provider of transformative learning experiences, aiming to revamp education and learning for middle school students in India. Infosys Springboard intends to give students access to Skillsoft learning content designed to build technology and business.
- June 2023: Cigniti Technologies, a global leader in AI and IP-led Digital Assurance and Digital Services, collaborated with Mahatma Gandhi Institute of Technology (MGIT), an educational institute based out of Hyderabad, with an aim to launch an innovative training program to bridge the gap between academia and industry and empower future IT Professionals.
Key Segments Covered in Crowdsourced Testing Industry Survey
Crowdsourced Testing Market by Testing Type:
- Performance Testing
- Functionality Testing
- Usability Testing
- Localization Testing
- Security Testing
- Others
Crowdsourced Testing Market by Platform:
- Website Testing
- Mobile Testing
- Others
Crowdsourced Testing Market by Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Crowdsourced Testing Market by Vertical:
- Retail
- BFSI
- IT and Telecom
- Healthcare and Life Sciences
- Media and Entertainment
- Others
Crowdsourced Testing Market by Region:
- North America Crowdsourced Testing Market
- Latin America Crowdsourced Testing Market
- Europe Crowdsourced Testing Market
- South Asia Crowdsourced Testing Market
- East Asia Crowdsourced Testing Market
- Oceania Crowdsourced Testing Market
- Middle East & Africa Crowdsourced Testing Market
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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