Safety Critical Software Testing Market Overview
The Safety Critical Software Testing Market expects substantial traction from several sectors as it provides a security level, which can save companies from huge financial loss. Safety Critical Software Testing Market is projected to grow at a substantial 43.2% CAGR. The market value will further reach around several USD 650 Billion during the forecast period 2022-2030. Market Research Future (MRFR) tried to analyze the global market and understand how various factors are transforming the sector's intake pattern. Among these, the increased demand from the nuclear engineering sector, growth in use in the aviation industry, the surging impact from the automation in diverse end user industries, the ability to reduce cost, and others are expected to bolster the market growth.
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Safety Critical Software Testing Market Segmentation
The global report discussing the safety critical software testing market has been analyzed by MRFR analysts on the basis of type and vertical. Data, fetched by MRFR analysts from these segments, are expected to bolster various market claims and inspire changes in the market.
By type, the report on the global safety critical software testing market has been segmented into manual testing and automation testing. The automation testing segment has a chance to score big as industries are increasing their intake of automation.
By vertical, the report on the global safety critical software testing comprises segments like automotive transportation, aerospace defense, industrial automation, healthcare, infrastructure, and others. The aerospace defense sector is expected to provide substantial tailwind as it is including the system to increase safety level. The same is true for the automotive transportation segment.
Regional Analysis
Easy inclusion of latest technologies, investment to ensure intake of advanced technologies, and others are expected to create a proper ground for the North American safety critical software testing market expansion. Increasing impact of industries in Asia Pacific to boost the regional market as well.
Competitive Landscape
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), Vector Software, Inc. (US), Esterline Technologies Corporation (US), Atkins Limited (UK), General Digital Corporation (US), tecmata GmbH (Germany), imbus AG (Germany), and LDRA (UK) are some names in the global safety critical software testing market that are impacting the outcome with their strategic decisions. These steps have been traced and tracked by MRFR analysts to understand how well trends can impact the measures implemented by these companies.
Industry News
In September 2020, Jama Software, a company known for its requirements management solution that supports building complex products and integrated systems, announced the launching of Jama Connect for Automotive. This new solution has been designed to accelerate product development in the autonomous, electric and traditional vehicle space. It will assist engineering teams in improving the development of lifecycles and managing requirements, hazard analysis, risk, and test management. This also simplifies alignment to safety-critical standards.
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In August 2020, LDRA, a global leader in software code analysis, automated software verification, standards compliance, and test tools, announced the introduction of the Secure Software Development Resource Centre. It is an online portal that guides developers through various phases of the software development lifecycle that spans across design, code, model, requirements, and verification of whether developers are using a waterfall lifecycle, V-model, or an agile approach. The software is expected to play a critical role in minimizing the risk of damage to reputation, liability claims, and compliance fines.
During the COVID-19 crisis, a lot of companies got badly hit by the disruption in supply and manufacturing owing to which the market may find itself at some disadvantages.
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