Report predicts the cloud market to reach US$10.24 billion by 2022

A recent report has predicted the cloud testing market is to grow from US$5.55billion in 2017 to US$10.24billion by 2022.

The 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 report highlights cloud adoption rapidly growing, as well as flexible and scalable delivery models.

The adoption of cloud testing solutions and services is high in verticals such as retail and eCommerce; IT and telecom; banking, financial services, and insurance (BFSI); and media and entertainment – having an effect on the growth of the market as a whole.

Cloud computing solutions

The testing tools/platforms component is expected to grow at a higher CAGR during the forecast period, as tools/platforms assist organisations in easily carrying out the testing process in the cloud.

Furthermore, North America is expected to have the largest market share and is projected to dominate the market during the forecast period, according to the report.

With the increase in the adoption of cloud computing solutions among various verticals, the cloud testing market is also set to grow at a rapid pace in in well-established economies, such as the United States (US) and Canada.

Because of this, firms are willingly investing in the North American region, therefore, the competition is stiff amongst major market players.

Written from press release by Leah Alger