Natural Language Processing Is Fastest Growing Segment Fueling The Growth Of Computer System Validation Market
Market Overview:
Computer system validation is the documented process of collecting and evaluating data which establishes a high level of assurance that a specific computer system will consistently perform accurately for its intended use. It focuses on verification that systems are built right and validation that systems are built to satisfy user and regulatory requirements.
Market key trends:
One of the key trends in the computer system validation market is the increasing adoption of natural language processing. Natural language processing (NLP) is an area of artificial intelligence that helps computers understand, interpret and generate human languages in a useful and meaningful manner. It is being increasingly used in computer system validation to analyze large amounts of text data from requirements, protocols, reports etc. and provide useful insights. For example, NLP algorithms can analyze test scripts to check if they adequately cover all requirements and help identify gaps. This improves the overall efficiency and effectiveness of the computer system validation process.
Segment Analysis
The global computer system validation market is segmented into services and software. The services segment is expected to dominate the market over the forecast period, due to increasing adoption of CSV services by pharmaceutical and biotechnology companies to validate their computer systems that process critical data to ensure accuracy, reliability and consistency. These services help companies ensure regulatory compliance and avoid costly remediation efforts.
The global Computer System Validation Market Size is estimated to be valued at US$ 3.73 Bn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Key Takeaways
The global computer system validation market size is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing regulatory requirements for computerized system validation in various industries such as pharmaceutical, healthcare, and biotechnology.
Regional analysis
North America is expected to dominate the global computer system validation market over the forecast period. This is attributed to stringent government regulations for computer system validation and significant presence of major pharmaceutical companies in the region. Asia Pacific region is expected to exhibit fastest growth due to expansion of pharmaceutical and biotechnology industries and increasing adoption of computer system validation services and software by companies to ensure regulatory compliance.
Key players
Key players operating in the computer system validation market are IBM Corporation, Hewlett Packard Enterprise, Infosys Limited, Wipro Limited, Capgemini SE, Cognizant Technology Solutions Corporation, TATA Consultancy Services Limited, Deloitte Touche Tohmatsu Limited, Accenture plc, PAREXEL International Corporation, PwC International Limited, IQVIA Holdings Inc., Tata Technologies Limited, Computer Sciences Corporation (CSC), Eurofins Scientific SE. IBM and Hewlett Packard Enterprise are the current market leaders due to their extensive experience in providing computer system validation and regulatory compliance services.