Safety critical software is something that is necessary for any kind of emergency service like in the healthcare segment or crucial operations like railways. A failure in its workflow would result in a plummet in the service and cause huge hindrance in the regular flow of life. That is why, the safety critical software testing market is gaining substantial lead and is expected to register high CAGR during the forecast period (2018-2023). Market Research Future (MRFR), in their report on the safety critical software testing market, claimed that the possibility for factors taking precedence and taking the market ahead in the coming years is quite high.
Industries such as nuclear engineering, BFSI, defense, and others are showing tremendous intake capacity for the global safety critical software testing market. Integration of other technologies like 5G connectivity, artificial intelligence, big data, and automation are providing much scope for the safety critical software market expansion.
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MRFR’s dealing with the global safety critical software testing market is based on a segmentation crafted by adept analytics of the company. This segmentation includes type and vertical, and the market is backed by proper facts based on volume-wise and value-wise data.
Based on the type, the global safety critical software testing market is segmented into manual testing and automation testing. The automation testing is gaining momentum as it can work more precisely in less time as compared to that of manual testing. Also, its lag time is far less than the manual testing segment.
Based on the vertical, the global safety critical software testing market includes aerospace & defense, automotive & transportation, healthcare, industrial automation, and infrastructure and others. The automotive & transportation segment is bound to inspire.
Several companies are showing keen interest in this Safety Critical Software Testing Market. These companies are HP Development Company, L.P. (US), CRITICAL Software (Portugal), QA Systems GmbH (Germany), Parasoft (US), HBM PRENSCIA INC.(US), Verum (The Netherlands), ALD Ltd. (Israel), Rapita Systems Ltd. (UK), Esterline Technologies Corporation (US), Atkins Limited (UK), General Digital Corporation (US), imbus AG (Germany), Vector Software, Inc. (US), tecmata GmbH (Germany), and LDRA (UK). MRFR listed these companies and profiled them for a better understanding of the coming trends.
In June 2019, German company German Equity Partners V is managed by Equity Capital Management (ECM). This company has recently acquired stake in PikeTec of Berlin. PikeTec has expertise in testing and verifying of safety-relevant embedded software that would find utility in the electronic control units. As managing partners, German Equity Partners V would also play a decisive role in coursing the chart for PikeTec.
The global safety critical software testing market has been segmented on a region-specific level by MRFR for a better demographic analysis. That includes namely, North America, Europe, Asia-Pacific (APAC), and the Rest of the World (including the Middle East, Africa, and Latin America).
North America is expected to build further on its already robust infrastructure to back its global dominance. The forecast period will see North America helming the market with the largest share of the global revenue. Among the countries, the US owns almost 80-85% of the regional market. This is primarily because of the presence of leading vendors in the country and a strong customer base to back it up.
Europe’s market is expected to benefit from similar features like that of North America. The region has several countries who have well-structured industries to create market traction for the said market. In Europe, the IT sector is performing well and is providing much traction to the global market. Also, players like CRITICAL Software, QA Systems GmbH, Verum, Rapita Systems Ltd., Atkins Limited are based in Europe, which is providing much thrust to the regional market growth. On the other hand, the APAC market has remarkable prospect with several startups to perform well and maintain the demand-supply relationship.
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• Government Agencies
• Safety critical software testing service/solution providers
• Financial Advisory/Consulting Firms
• System Integrators
• Research Institutes and Organizations
• Technology Standards Organizations
• Venture capitalist/angel investors
LIST OF TABLES
Table 1 Global Safety Critical Software Testing Market, By Region, 2018–2023
Table 2 North America: Global Safety Critical Software Testing Market, By Country, 2018–2023
Table 3 Europe: Global Safety Critical Software Testing Market, By Country, 2018–2023
Table 4 Asia-Pacific: Global Safety Critical Software Testing Market, By Country, 2018–2023
Table 5 Rest Of The World: Global Safety Critical Software Testing Market, By Country, 2018–2023
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LIST OF FIGURES
FIGURE 1 Global Safety Critical Software Testing Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Safety Critical Software Testing Market
FIGURE 4 Value Chain/Supply Chain Of Global Safety Critical Software Testing Market
FIGURE 5 Share Of Global Safety Critical Software Testing Market In 2017, By Country (In %)
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