The AI-enabled testing tools market is predicted to capture a valuation of US$ 426.1 million in 2023 and is projected to rise to US$ 2,030.75 million by 2033. As per the FMI report, the market is likely to record a CAGR of 16.9% during the forecast period.
The increasing demand for operating networks and services is fueling the market size. Moreover, the significantly growing telecommunication is estimated to increase market expansion by 2033. Consumers’ growing preferences for efficient and accurate testing for software are propelling market growth further. The manufacturers innovate AI-enabled testing tools to eliminate operating despite faults, advancing the market size.
The increasing Internet of Things, advanced technologies, and Artificial Intelligence propel the market size. IT networking companies are adopting AI-enabled testing tools for managing and monitoring networks, which consequently surges market growth. These testing tools focus on updating fast, quick results and testing applications in the environment that contribute toward propelling the market share. Government initiatives, new market entrances, and growing deep market analysis significantly boost the market size.
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Technical Glitches Restrain the Global Market
Artificial Intelligence is an advanced technology progressively adopted in the telecommunication sector, and it plays a crucial role in integrating system safety and functionality in innovative technologies. The telecommunication industry has increased the adoption of AI-enabled testing tools for its maintenance and operating system.
The market has a few restraining factors that may cause a decline in global market growth. Increasing technical glitches and a lack of technicians and experts may restrain the market growth.
Key Takeaways:
- The AI-enabled testing tools market is expected to have a valuation of US$ 2,030.75 million by 2033.
- With a CAGR of 16.9%, the global market is increasing during the forecast period.
- The market in the United States is anticipated to capture a maximum share through 2033.
- In the historical period, the market secured a valuation of US$ 195.18 million between 2018 and 2022.
The Role of Key Players in the AI-enabled Testing Tools Market
The prominent players have a crucial role in the global market by capturing maximum output and investing a huge amount in research and development activities. In addition, these key players focus on innovating better quality products and advanced tools as per consumers’ requirements.
The market players launched unique products by adopting various marketing methodologies such as collaborations, mergers, partnerships, product launches, and acquisitions.
Other Prominent Players in the AI-enabled Testing Tools Market are:
- Sauce Labs Inc.
- ReTest GmbH
- Diffblue Ltd.
- Functionize Inc
- TestRigor
- Applitools
- Perforce Software
- mabl Inc.
- IBM Corporation
- Capgemini SE
- Micro Focus International Plc
- Tricentis
Recent Developments in the Global AI-enabled Testing Tools Market:
- In October 2022, SmartBear partnered with a China-based company DragonSoft. This strategic innovation took place to improve software quality and innovate products.
- In October 2022, Keysight announced its newly launched automated AI testing for 5G smartphones. The motto behind this strategy is to engage many smartphone users and applications through Artificial Intelligence.
In October 2022, Micro Focus launched its new modernization solution technology tool to integrate with Google cloud. It helps speed up and automate in Google cloud and has low risks.
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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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