The cloud testing market is gaining traction on a global scale, due to various reasons, including rapidly growing cloud adoption and reduced cost of ownership. Therefore, cloud testing providers are making efforts to enhance and boost their revenues. Strategic partnership is an important strategy adopted by the key market players to develop new services and gain traction in the cloud testing market. MarketsandMarkets forecasts the cloud testing market to grow from USD 5.55 Billion in 2017 to USD 10.24 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 13.01% during the forecast period.
The cloud testing ecosystem comprises vendors such as IBM (US), Oracle (US), CA Technologies (US), Micro Focus (UK), SmartBear Software (UK), SOASTA (US), Xamarin (US), Cygnet Infotech (India), Cavisson Systems (US), Tricentis (Austria), Cigniti (India), Cognizant (US), and Capgemini (France). These players have adopted various strategies, such as partnerships, collaborations, agreements, mergers and acquisitions, and new product developments, to achieve growth in the cloud testing market.
SmartBear Software, with a significant presence in the cloud testing market, is aspiring to become one of the leading providers of cloud testing solutions. In July 2016, SmartBear Software introduced ReadyAPI 1.8, which enables developers to speed the API delivery, at scale and in the preferred coding language. In August 2017, SmartBear Software released a new version, ReadyAPI 2.1 that includes overall improvements to all the solutions included in the suite.
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CA Technologies is one of the top players in the cloud testing market. The company is focused on building new solutions with the aim of making its cloud testing solutions simple, fast, and more efficient for the end-users. In April 2017, CA Technologies acquired Veracode, a leader in securing web, mobile, and third-party applications across the Software Development Life Cycle (SDLC). The acquisition would establish CA Technologies as a leader in the secure DevOps market, enhance its security business with a broad DevOps portfolio, and add to its growing Software-as-a-Service (SaaS) business. In October 2016, CA Technologies signed an agreement with Spectrum, a New Zealand-based IT consultancy, to offer its cloud-based Test Data Manager solution to Spectrum.
Cloud Testing Market by Component (Testing Tools/Platforms and Services), Testing Tool/Platform (Functional Testing, API Testing), Service (Managed Services and Professional Services), Vertical, and Region - Global Forecast to 2022
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