The Global AI-enabled Testing Market size is expected to reach $1.4 billion by 2030, rising at a market growth of 17.9% CAGR during the forecast perio
In the world of banking, finance, and insurance, it is crucial to swiftly identify and prevent potential instances of fraudulent activity. The BFSI sector recorded a whopping revenue of $41,820.9 thousand in 2022. Additionally, artificial intelligence systems analyze vast quantities of customer actions, transactional information, and historical instances of fraud.
Reportlinker.com has recently published a new report titled "Analysis of Global AI-enabled Testing Market Size, Share & Industry Trends". In this report, they discuss how AI-enabled testing can benefit financial institutions by improving their ability to detect and prevent fraudulent transactions. This technology also helps with risk assessment and ensuring compliance with regulations. Overall, AI-enabled testing is becoming an essential tool for financial organizations to protect consumer funds and minimize financial losses. To learn more about this report, please visit the following link: https://www.reportlinker.com/p06487594/?utm_source=GNW
Market participants are using partnerships as their primary strategy to adapt to the evolving needs of customers. For example, in June 2022, Sauce Labs Inc. joined forces with Keysight Technologies to provide AI-powered automated testing for applications on various devices, browsers, and operating systems. Similarly, in May 2021, Micro Focus partnered with Microsoft Corporation to help government clients save on their infrastructure expenses.
Competition Analysis for the AI-enabled Testing Market on KBV Cardinal Matrix
According to the evaluation shown in the KBV Cardinal matrix, Capgemini SE and IBM Corporation are leading the market. Sauce Labs Inc., Applitools, and Tricentis are among the main pioneers in the market. In June 2023, Sauce Labs Inc partnered with TestRail to combine their technology and empower engineering and product teams to enhance digital innovation without facing excessive risk.
The increasing recognition of the advantages that artificial intelligence (AI) offers in the field of testing.
The demand for testing tools that utilize artificial intelligence (AI) has increased in recent years because of the many advantages they offer. These tools assist developers in creating test cases, carrying them out based on changes, planning, automating similar workflows, performing user interface (UI) testing, and conducting tests before releases. The AI software needs to identify and automate the test cases necessary for a specific field when creating a test case for that field. Once the AI program determines which parts of the code have been modified, it can analyze the potential risks and decide which test cases need to be run to ensure nothing is broken before the release. These steps can be repeated without requiring additional resources, thereby saving time and money for businesses. As more companies become aware of the benefits of AI-enabled testing in the years to come, it will greatly drive the growth of the market.
Product developers are increasingly embracing the emerging idea of 'fail fast, fail often'.
The "fail-fast" approach in software engineering emphasizes the importance of identifying errors and potential issues early on in the software development process. The idea of "fail fast, fail often" means being able to quickly and repeatedly make corrections. To achieve this, it is necessary to implement systems that can speed up processes and provide immediate feedback. However, this strategy only works if a business can recover from failures quickly. By automating repetitive tasks, reducing human effort, and shortening testing cycles, AI-enabled testing simplifies the testing process. This allows businesses to bring their products to market faster and gain a competitive advantage. Consequently, this advancement will strengthen the expansion of the market.
Concerns Regarding the Dependability and Standard of AI Models
Artificial intelligence (AI) can help with tasks that are repetitive and similar to ones previously completed. However, even if AI is used to its maximum potential, some tasks will still require human work. Examples of these tasks include reviewing documentation, creating tests for complex scenarios, analyzing and reporting test results, and conducting user experience testing. Many businesses believe it is important to have a person examine the documentation in order to fully understand a system that needs to be built. All AI models used in testing undergo strict validation procedures and continual monitoring and improvement. As a result, these limitations of AI may hinder the growth of the market in the years to come.
Categorized by constituent parts, the market can be divided into solutions and services. The solution sector obtained the largest portion of revenue in the market this year. The surge in the segment's growth can be attributed to the increasing usage of widely employed AI-powered solutions in detecting unlawful behavior. AI-based tools and machine learning algorithms contribute to identifying fraudulent operations. These advanced technologies are utilized on various customer and operator data to pinpoint characteristics of overall traffic.
Based on the technological aspect, the market is divided into machine learning & pattern recognition, natural language processing (NLP), and computer vision & image processing. The NLP section achieved a notable portion of the market's revenue in 2022. Recent advancements in technology have fueled a considerable increase in the demand for NLP. The rise in the requirement for cloud-based technology, along with enhancements in communication infrastructure and NLP, is accelerating this growth. NLP involves the interaction between machines and humans through the execution of computer programs and data analysis.
In terms of usage, the market is categorized into test automation, infrastructure optimization, and other applications. The test automation section experienced the highest portion of revenue in the market last year. AI-powered testing solutions greatly enhance test automation by using AI algorithms and approaches, leading to the growth of this section. When combined with cloud computing instances, it can enhance the scalability and adaptability of the testing process. By integrating AI-enabled testing with automated tests, companies can enhance the precision, effectiveness, and productivity of their testing procedures.
According to the way it is used, the market can be divided into two categories: on-premises and cloud. In 2022, the cloud category had a significant portion of the market's revenue. Cloud solutions offer virtually unlimited scalability and resources, which leads to the growth of this category. Depending on the demand, businesses can easily provide and adjust their AI-enabled testing infrastructure. They can efficiently and affordably meet extensive testing requirements due to the flexibility of cloud solutions.
Based on the different ways it is used, the market is divided into IT and telecommunication, healthcare, energy and utilities, BFSI, government, and others. In 2022, the IT and telecommunication sector had the highest revenue share in the market. The growth of this sector is driven by the increasing demand for more efficient customer services and operational networks in the telecommunications industry. With the use of AI algorithms, testing is now less labor-intensive and time-consuming as they automate the process of creating test cases, running tests, and analyzing results on a large scale. This increase in testing efficiency allows for faster release of innovative telecom services and features. Furthermore, the system also examines network traffic patterns, detects irregularities, and identifies potential security risks.
The market is analyzed in different regions including North America, Europe, Asia Pacific, and LAMEA. The North America region obtained the highest revenue in the market in 2022. This region's market is growing because of the noticeable increase in automation testing. Mobile applications are utilizing AI regression testing more often to improve product functionality. The market is expanding in this region due to urbanization, changing lifestyles, higher disposable income, and advanced technologies. In the United States, the market is further expanding due to increased spending on research and development, growing demand for automated testing solutions, and the introduction of new products.
The market research report examines the important individuals and organizations involved in the market. The report provides detailed profiles of various companies, such as Sauce Labs Inc., Retest (UBS Hainer GmbH), Functionize, Inc, Diffblue Ltd., Applitools (Thoma Bravo), Capgemini SE, TestRigor, Micro Focus International PLC (Open Text Corporation), Tricentis, and IBM Corporation.
New Approaches Implemented in AI-powered Testing Industry
Working together, combining efforts, and coming to mutual understandings:
In June 2023, Sauce Labs Inc and TestRail, a centralized test management platform, announced a partnership. By combining their technologies, the companies aim to support engineering and product teams in advancing digital innovation without taking on excessive risks. Through the integration of TestRail, Sauce Labs users will have the ability to ensure comprehensive test coverage and have confidence in their releases, all through a single interface. The collaboration will enhance test effectiveness, speed, accuracy, and stability by facilitating early and continuous feedback loops. This integration will prove advantageous for any organization that utilizes automated testing to meet their obligations in terms of compliance, security, and legal requirements.
In June 2022, Sauce Labs Inc. joined forces with Keysight Technologies, a US-based company specializing in the production of electronic testing tools and software. This partnership enables the seamless implementation of AI-powered automated testing for applications across numerous devices, internet browsers, and operating systems. By combining Keysight's Eggplant cloud-based test automation platform with Sauce Labs' real and virtual device clouds and software platform, users can efficiently execute testing processes.
In August 2021, Sauce Labs established a collaboration with Savex Technologies, which is known as one of the biggest distributors of Information and Communication Technology in India. This partnership will mainly concentrate on distributing Sauce Labs' AutonomIQ platform and help the company broaden its presence in the Indian market.
May 2021 witnessed a fruitful alliance between Micro Focus and Microsoft Corporation, a renowned American multinational technology giant. This collaboration enables mainframe programs to function securely and flexibly on Microsoft Azure, leading to a substantial reduction in infrastructure expenses for government clientele.
Introducing New Products and Widening Product Range:
In June 2023, Sauce Labs Inc formed a partnership with TestRail, a platform for managing tests in one place. By combining their technologies, Sauce Labs aims to help engineering and product teams enhance digital innovation while minimizing risks. Through the integration of TestRail, Sauce Labs users can ensure comprehensive test coverage and have confidence in their releases, all within a single interface. This collaboration improves the efficiency, speed, accuracy, and reliability of testing by providing early and continuous feedback. Any company that relies on automated testing to fulfill their compliance, security, and legal requirements will greatly benefit from this partnership.
In June 2022, Sauce Labs Inc. and Keysight Technologies, a U.S. company that produces electronic testing and measuring equipment and software, joined forces. By combining Keysight's Eggplant cloud-based test automation platform with Sauce Labs' real and virtual device clouds and software platform, they are now able to offer AI-powered automated testing of applications on a wide range of devices, browsers, and operating system combinations.
In August 2021, Sauce Labs and Savex Technologies, a major distributor of Information and Communication Technology in India, joined forces in a partnership. The primary objective of this collaboration is to distribute Sauce Labs' AutonomIQ platform and enhance the company's presence in the Indian market.
In May 2021, Micro Focus joined forces with Microsoft Corporation, a renowned multinational tech company. This collaboration allows the seamless operation of mainframe programs on Microsoft Azure, ensuring both safety and scalability. Additionally, government clients can expect significant reductions in their infrastructure expenses.
June 2023: Applitools successfully acquired Preflight, an innovative platform for automating tests. This acquisition allows Applitools to enhance its platform by incorporating artificial intelligence (AI) into important stages of the testing process.
In February 2022, Tricentis acquired Testim, a software-as-a-service (SaaS) test automation platform powered by artificial intelligence. Through this purchase, Tricentis aims to enhance the overall success of its clients by providing top-notch applications that are not only of superior quality but also demonstrate exceptional performance and security.
February 2021 saw Sauce Labs Inc. enter into a deal to purchase AutonomIQ, a company that specializes in providing test automation solutions without the need for scripts. This acquisition is set to broaden Sauce Labs Inc.'s range of offerings and strengthen their overall portfolio.
The focus of the research
The Report includes analysis of various market segments.
• Artificial Intelligence & Identifying Patterns
• Nurturing Language Comprehension (NLC)
• Visual Analysis & Picture Manipulation
• Information Technology & Telecommunication or • Computers & Telecommunication or • Tech and Telecommunication
• Power and essential services
o Other regions of the North American continent
Other parts of Europe
Other parts of the Asia Pacific region
The remaining parts of the LAMEA region
- Sauce Labs Incorporated - The company known as Sauce Labs
• Re-examination (UBS Hainer GmbH)
Applitools, a software company, has been acquired by Thoma Bravo.
Micro Focus International PLC, also known as Open Text Corporation,
• Maximum quantity of market tables and figures
• Option to access through a monthly subscription model present
• Unbeatable price assurance • Assured lowest cost • Price guarantee in place • Unmatched pricing guaranteed
• Guarantee of research assistance after purchase with the opportunity to customize 10% of the content for no additional cost. Check out the complete report by following this link: https://www.reportlinker.com/p06487594/?utm_source=GNW
About ReportlinkerReportlinker is a well-regarded market research platform. Reportlinker discovers and compiles the most up-to-date industry information, enabling you to access comprehensive market research effortlessly and conveniently, all in a single location.
