Internet of Things (IoT) Testing Market Size To Expand at a Notable CAGR Of 27.75% During 2024-2032

Pune, India, March, 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Internet of Things (IoT) Testing Market. 

Market Synopsis:

As per the assessment presented by Market Research Future (MRFR), The Internet of Things (IoT) Testing market industry is projected to grow from USD 96.4467 Billion in 2024 to USD 684.21 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 27.75% during the forecast period (2024 - 2032). The growth of the IoT industry has led to an upsurge in the adoption of connected devices across different industry verticals. This is projected to drive the expansion of the market over the next couple of years.

The growing need for the testing of Internet Protocol (IP) coupled with the need for testing of IoT applications is likely to have a positive influence on the growth of the Internet of Things (IoT) testing market in the foreseeable future.

The Internet of Things (IoT) testing market is prognosticated to attract massive investments in the years to come and witness a drastic rise in applications. It is projected to have a favorable impact on the proliferation of the market across the review period. On the contrary, factors such as hardware-software mesh, safety concerns, privacy issues, network availability, real-time complexity & scalability of the system, etc. are poised to hinder market growth.

Market Segmentation:

By testing type, the global Internet of Things (IoT) testing market has been segmented into upgrade testing, regulatory testing, pilot testing, compatibility testing, performance testing, network connectivity testing, usability testing, and others.

By testing tools, the Internet of Things (IoT) testing market has been segmented into software tools and hardware tools. The software tools segment has been sub-segmented into Wireshark and tcpdump. The hardware tools segment has been further sub-segmented into JTAG dongle, digital storage oscilloscope, and software defined radio.

By applications, the global Internet of Things (IoT) testing market has been segmented into smart appliances, smart energy meters, wearable devices, connected cars, and smart healthcare devices.

Regional Analysis:

The global Internet of Things (IoT) testing market, by region, has been segmented into Asia Pacific, North America, Europe and the Rest of the World (RoW). North America is poised to dominate the global market in the forthcoming years. The region is a pioneer in IoT technology which is expected to work in favor of the proliferation of the Internet of Things (IoT) testing market. Asia Pacific is also expected to exhibit stellar growth over the next few years owing to rising investments by the communication service providers.

Competitive Dashboard:

Key players participating in the competitive landscape of the global Internet of Things (IoT) testing market are Cognizant (U.S.), Infosys (India), HCL Technologies (India), Keysight technologies (U.S.), Rapid Value Solutions (U.S.), Capgemini (France), TCS (India), AFour Technologies (U.S.), Happiest Minds Technologies (India), SmartBear Software (U.S.), and Rapid7 (U.S.)

Industry News:

In March 2019, Arm, a British multinational semiconductor and software design company, has announced the introduction of certification testing for the Internet of Things (IoT).

In March 2019, Russian mobile operator MTS has announced the completion of its testing of international roaming services on the Narrow Band IoT (NB – IoT) network in Belarus.

In March 2019, SGS, a multinational company headquartered in Geneva, Switzerland, has secured SGS Accredited Test Lab (ATL) status from Sigfox, a pioneering Internet of Things (IoT) services provider, for its certification facilities in New Taipei City (Taiwan), Shenzhen (China), and Espoo (Finland).

In March 2019, CTIA, a wireless industry association, has approved its first device under the Internet of Things (IoT) Cybersecurity Device Program.

In February 2019, Arm, a British multinational semiconductor and software design company, has partnered with Vodafone and China Unicom on a security certification process for the Internet of Things (IoT) devices.