Digital assurance can be viewed as the technologically equipped version of the quality assurance (QA). It refers to the practice of assuring smooth connections between different parts of digital ecosystems incorporating interconnected individuals, procedures and things cutting over social media, mobile, analytics, and cloud (SMAC) stack. While QA supports all the digital initiatives, the digital assurance solutions need to go beyond the functional validations needed for SMAC and should integrate the various aspects like improved network capability, enhanced security, interoperability, while ensuring optimal performance.
Digital assurance is not confined to SMAC, BigData, Internet of Things (IoT), etc. and software testing, but also to ensure that the required business outcomes and desired goals are achieved by incorporating digital transformation initiatives. With the present business trends and increased focus on digital solutions, the shift from traditional QA and testing towards a more sophisticated digital assurance has been tremendous. With all the big names in the technology industries making inroads into this market, the competitive landscape and market status have been the focus of the report on the global digital assurance market.
The global digital assurance market, as given by the research estimates of the report, stood at US$2.66 billion in 2017 and is expected to touch US$9.73 billion by 2026. The growth rate for the forecast period is pegged at a CAGR of 15.5 %. The market survey conducted looks into the market trends and developments and looks to give strategic recommendations for the new entrants in the market. The market analysis has been done using Porter’s Five and SWOT analysis.
Some of the key players in this market include
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The major segments in the digital assurance market based on the technology used would be social media, mobile, analytics and cloud technologies. Based on the forecast given in the report, the cloud-based segment is likely to grow significantly during the forecast period as it is widely adopted by various enterprises across the globe. Apart from being cost-efficient, they can also be deployed even in a basic IT infrastructure. Based on the applications, the segments are Scouting, Soil Monitoring, Yield Monitoring, and Other Applications. The end-user industries have also been segmented into Banking, Financial Services, and Insurance (BFSI), Government and Public Sector, Pharmaceutical, IT & Telecom, Transportation and Logistics, Healthcare and Life Sciences, Retail and eCommerce, Media and Entertainment, Manufacturing & Automotive, and Other End-Users. The various other segmentations based on testing modes and organization sizes have also been covered by this report.
Going by the regional and geographical segmentation and analysis, North America is expected to observe significant growth during the forecast period (2019-24). This comes mainly due to the increase in the adoption of digital technologies for Quality Assurance (QA) and testing activities by all major players in the region. Some of the key countries in the regions covered in this report are Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Argentina, Brazi, Chile, Saudi Arabia, UAE, Qatar, and South Africa. The detailed growth strategies, development trends, and competitive benchmarking of all the major players in these regions have been included.
Sunny Lu, co-founder and CEO of VeChain – a blockchain solution provider that helps with logistics solutions, in the recent announcement of its collaboration with DNV GL and Deloitte, termed digital assurance as “killer app of blockchain”, apart from Bitcoin. The entrepreneur believes that the effective deployment of such a tool would help in the mass adoption of blockchain by promoting the development of applications that benefit enterprises. These services that are professionally tailored for the respective sectors will then have an increased acceptance into the business world.
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