TECH BYTES - Monthly Tech Industry Bulletin June 2022

Highlights from NASSCOM Reports Released in May 2022

• India GCC Trends Quarterly Analysis Q1CY22’
• Global Engineering R&D Pulse Survey 2022
• Software Testing: Trends Shaping the Industry

Key trends that have shaped the software testing industry after the pandemic

• Industry trend: Accelerated digitalization and impact on IT advancement and software testing- The pandemic accelerated digital transformation across organizations and those that adopted digital strategies earlier have done significantly well. While the global test market exceeded USD40 billion in 2020 and is estimated to grow between 7% to 12% CAGR until 2025, the market is estimated to add an incremental USD34.5 billion for the period 2021–25
• Business models: Customer preferences driving evolution and adaptation- Service-delivery models of test organizations have undergone change in preferences since the pandemic. Nonetheless, traditional staff augmentation models have seen an incredible growth in the last two years. Newer and innovative models, such as outcome-based pricing, have seen an adoption by a few clients.
• People: Specialized strategy to manage business and demand fulfilment- Demand for software testing resources is at an all-time high. However, there is shortage of skilled resources. There has been an incredible surge in demand for software test / quality resources in line with IT advancement. With IT companies willing to hire many more, there is scarcity of resources with the right skills. The demand is more for skilled testers than tenured testers.

• Leveraging Cloud to Enable Transformation for the Public Sector
• Engineering Cloud
• Low Code No Code – Industry Trends & Future
• Web 3.0: Indian Start-up Landscape and Contribution
• AI-As-A-Service – Democratizing AI For Scale

• Tech Trends: IT companies eyeing Eastern Europe for growth, 5G becoming a key focus
• ER&D Trends: Opening of new innovation centers, expansions to new locations and strategic acquisitions
• Tech Start-ups: The Unicorn saga, focus on profitability, growing Quick commerce market