|By Business Wire||
|March 6, 2014 02:16 PM EST||
Research and Markets (http://www.researchandmarkets.com/research/6kgm5x/global_software) has announced the addition of the "Global Software Testing Services Market in BFSI Sector 2012-2016" report to their offering.
The analysts forecast the Global Software Testing Services market in BFSI sector to grow at a CAGR of 6.91 percent over the period 2012-2016. One of the key factors contributing to this market growth is the need to reduce operational time and cost. The Global Software Testing Services market in BFSI sector has also been witnessing a shift from on-premise software testing to cloud-based software testing. However, lack of data control in outsourced services could pose a challenge to the growth of this market.
The key vendors dominating this space include Accenture plc, Capgemini SA, IBM Corp., and Wipro Ltd.
The other vendors mentioned in this report are Cognizant Technology Solutions Corp., Computer Sciences Corp., Groupe Steria SA, HCL Technologies Ltd., Hewlett-Packard Co., Hexaware Technologies, Infosys Ltd., ITC Infotech India Ltd., Logica plc, Micro Focus International plc, Software Quality Systems AG, TCS Ltd., Tech Mahindra Ltd., Thinksoft Global Services Ltd., and UST Global.
Commenting on the report, an analyst from the team said: The Global Software Testing Services market in the BFSI sector is characterized by a lack of skilled and qualified personnel to meet the Testing industry standards. Therefore, this trend has affected many businesses and their efforts to deploy quality production. The biggest challenge involving this trend is that financial companies are finding it difficult to determine which functions of the software production should be taken care of by in-house personnel and which should be outsourced to third-party service providers. The challenge is aggravated in the case of high-end and specific areas of industrial and specific knowledge. Therefore, responsibilities that are attached to the role of a business analyst are being taken care of by in-house personnel and functions involving testing and quality assurance are being increasingly outsourced to the independent software testing vendors.
For more information visit http://www.researchandmarkets.com/research/6kgm5x/global_software
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Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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