Stress Testing Solutions Market Grows Rapidly – 31 percent of Growth to Originate from North America
The stress testing solutions market value is anticipated to grow by USD 2.46 billion from 2020 to 2025, progressing at a CAGR of 14.67 percent as per the latest market report by Technavio. The recently published report also shows that 31 percent of the market's growth will originate from North America during the forecast period.
According to the study the significant increase in the traction of social, mobile, analytics, and cloud (SMAC) will drive business innovation and digital transformation, which will facilitate the stress testing solutions market growth. US and Canada are the key markets for stress testing solutions in North America. Market growth in this region will be faster than the growth of the market in South America, the report indicates.
Factors such as increasing adoption of mobile devices and applications, adoption of test automation services, and the need to ensure systems can handle extreme workloads will drive the growth of the Stress Testing Solutions Market. However, easy availability of open-source stress testing tools might hamper the market growth.
According to the study, the stress testing solutions market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
– The stress testing solutions market report provides complete insights on key vendors including Accenture Plc, Akamai Technologies Inc., Capgemini SE, Cigniti Technologies Ltd., Infosys Ltd., International Business Machines Corp., Microsoft Corp., Oracle Corp., Performance Lab US LLC, and Tricentis GmbH.
The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
The global rebound in construction activity is set to continue over the coming years, supported by a wave of publicly funded infrastructure projects. This investment is coming at a time when global supply chain disruptions are hampering the delivery of construction materials, and tight labour markets are limiting the supply of labour.
Epiroc, a leading productivity and sustainability partner for the mining and infrastructure industries, will relocate the production and development of drill rigs for surface construction from Japan to its facility in Nanjing, China. The production facility in Yokohama, Japan, has been sold and will be closed.