APAC businesses surge ahead with digital assurance
REPORTLINKER forecasts that the digital assurance market size is expected to grow from US$2.90 billion in 2017 to US$5.47 billion by 2022, at a compound annual growth rate (CAGR) of 13.5 percent during the forecast period.
According to a recent press release, the company believes that the growing need for application programming interface (API) monitoring in the digital economy and the increased use of agile and DevOps methodologies will drive up the demand for digital assurance.
The company’s report on the digital assurance market has observed that the Asia Pacific region will grow at the fastest rate, up to 2022. This is thanks to the increased adoption of Social Media, Mobile, Analytics, and Cloud (SMAC) technologies in the region.
Businesses in the APAC are migrating their core business applications to new cloud platforms which will help improve the growth opportunities for digital assurance vendors who are expanding their presence in this region.
The major countries contributing to the growth of the digital assurance market in this region are China, India, Japan, Singapore, New Zealand, and Australia.
Here are three insights from the report that are interesting, both, for those building digital assurance capabilities and for those going through a digital transformation and will seek out an assurance vendor soon:
Security testing type is expected to boom
Among assurance services, security testing is expected to witness the exponential growth rate since no digital transformation is secure from the get-go.
Security testing helps businesses find all the loopholes and weaknesses in a digital ecosystem. With the increase in cybersecurity efforts, there’s a greater role for digital assurance teams to play.
Test automation segment is expected to grow quickly
The test automation segment has significant potential, says ReportLinker.
Test automation is a technique that tests the entire life cycle of a software quickly, effectively, and efficiently. Across different layers of an application, many tests are becoming automated.
Large enterprises segment is expected to hold a larger market share
The large enterprises are expected to take up a larger market share since they’re in a hurry to take advantage of SMAC technologies to reduce their high capital and operating expenditures.
Large enterprises have dedicated in-house IT resources and larger IT budgets and therefore are able to work on larger digital transformation projects. Hence, their assurance requirements are also larger.