Global Digital Assurance Market is valued to reach USD 5.5 Billion by 2023. The market is set to grow at CAGR of 12.05% from 2020–2026, owing to rising need of Application Programming Interface (API) monitoring, increasing test automation for lower operational costs, better quality assurance, surging adoption of DevOps and agile application development methodologies.
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Education sector experiences a high digital push under PPP models as the objective entirely emphasizes on designing content and delivering assessments. For instance, in the U.S. core standards for testing has resulted in automated digital assessment for students. Cloud infrastructure has been a major technological innovation in the education sector but however failure of Wi-Fi and frequent inconsistencies have pushed most teachers to abandon digital curriculum and maintain the balance using traditional techniques.
On the other hand, businesses have been implying digitization and the subtle focus is mainly on quality assurance. Customer experience being the foremost growth aspect for IT businesses, quality assurance is creating a huge impact on customer experience in terms of product and service quality. Emerging technologies and methods have introduced opportunities to attain the goals of QA lifecycle and hence digital transformation essentially supplements the quality assurance on the digital front. As the market is expected by 2026 with a high revenue share, internet size is expected to quadruple and so influence the IoT based models.
Digital Assurance Market Drivers:
The major factors driving the growth of digital assurance market depends on the rise in digital transformation across the globe and growing preference for API monitoring. In addition, growing popularity of IoT is expected to trigger the market growth. Increase in data acquisition and processing activities such as data analytics, Internet of Things (IoT) and big data is likely to lead in a high market growth. Network connectivity within business processing units are adding innovative practices such AI and VR are creating growth opportunities for the market in the following years.