Test Data Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (20Posted by Statzy Market Research on May 22nd, 2021 As test data management software reduces the time to market the company’s product and protects against loss of data generated from test software are some of the factors fueling the growth of the test data management market. - According to Cisco Report, global IP traffic will reach an annual run rate of 2.3 zettabytes in 2020, up from an annual run rate of 870.3 exabytes in 2015. Furthermore, the IP traffic will grow 3-fold from 2015 to 2020, a compound annual growth rate of 22% due to increase adoption of cloud technologies across the industries. - Nowadays, the application generates more and more data which is difficult and costly to manage. For instance, every terabyte of data growth in production, ten terabytes are used for development, testing, and other non-production use cases and thus, increase the cost. So now the companies are investing to gain economies of scale through centralization and many IT teams are expanding the scope of test data management to include the use of synthetic data generation tools, subsetting, and most recently, masking to manipulate production data and to increase the testing speed by up to 25%. - However, the lack of knowledge of the testers for the creation of alternate data solutions can hamper the growth of the market in the future. Download Free PDF @ https://www.statzyreports.com/report/sr498807/test-data-management-market Key Market Trends - Due to the fast, reliable, and user-friendly interface of the website, customers are opting - For instance, Informatica developed a new test data provisioning process based on the Informatica solution that is streamlined and automated in a self-service model and eliminated a lot of process waste in the whole testing lifecycle and ultimately improved the application quality. The Informatica Test Data Management has shrunken the time to market new products and services by 20%, lowered IT costs, and ensured that they meet their compliance goals around data privacy. It has helped United States retailers to reduce its test data provisioning time by more than 95% and achieve a 33% reduction in overall test cycle time. - The COVID-19 has disrupted the retail industry as most of the shopping malls are shut to prevent the spread of the virus. Moreover, customers from all demographics, but especially those over 50, have shifted to online shopping and delivery services that are expected to be a long-term impact on retail food and grocery market. It is expected to drive the test data management market in the forecast period. - According to the report, IT spending on products and services in North America is forecast to grow 3.7% in 2019, will exceed USD 1 trillion in 2020, and account for 40% of all worldwide revenues over the period. Further, United States spending on software will grow at a healthy 7.9% CAGR over the forecast period, making it the largest category by 2020. - Moreover, changing technology, regulations, and customer expectations are transforming financial services pushing financial institutions to be more agile and open while maintaining tight security and data privacy. It has led to the collaboration of many BFSI organizations with IT service providers. For instance, in 2019, Bank of America partnered with IBM to build a cloud for banks that has security, privacy, and bank-specific regulatory compliance built-in. The bank will host key applications and workloads to support the requirements and privacy and safety expectations of its 66 million banking customers and is expected to drive the market. - January 2020 - Averna developed a new off-the-shelf test package manager software solution with the release of Averna Deploy, the latest in their smart data management suite. It ensures all manufacturing activities remain accurate and reliable with the most up to date software versions installed on systems throughout smart facilities. With this off-the-shelf tool, all updated software revisions are automatically deployed to every test station and asset. For sample report please visit : https://www.statzyreports.com/report/sr498807/test-data-management-market Like it? Share it!More by this author |