Iot Testing Market
The increase in demand for IP testing of IoT devices is a key driver for the growth of the IoT testing market.
PORTLAND, PORTLAND, OR, UNITED STATES, January 19, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, the IoT Testing market was valued at $1.9 billion in 2022, and is estimated to reach $30.4 billion by 2032, growing at a CAGR of 32.6% from 2023 to 2032.
Internet of Things (IoT) testing is the process by which devices and systems can be tested for their functionality and performance, as well as for their security and interoperability. IoT testing is the process of testing the whole IoT ecosystem, from connected devices
The market is growing in the North America region due to expanding IoT systems, testing technologies, and applications for smart, connected devices. The need for IoT testing solutions is driven by the North America region's significant technological advancements and demand for 5G IoT across all business sectors. Moreover, IoT environments are becoming more intricate, combining devices, cloud services, edge computing, and microservices. Testing these complex ecosystems requires a holistic approach that considers multiple layers and components. In addition, continuous monitoring and real-time analytics of IoT deployments are crucial for identifying anomalies and optimizing performance. IoT testing providers can expand their services to include ongoing monitoring solutions. Furthermore, as the demand for skilled IoT testers grows, opportunities arise for training and certification programs that equip professionals with the knowledge and skills needed to excel in IoT testing. Moreover, growth in consumer awareness about the benefits of smart building and home automation solutions fuels demand. Consumers are becoming more informed about the potential advantages of IoT technology in their living and working environments, which drives the need for reliable testing services. Therefore, these features are expected to drive the IoT testing market share during the forecast period.
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Furthermore, major market players have undertaken various strategies to increase the competition and offer enhanced services to their customers. For instance, in January 2023, Cognizant, a prominent IT services company, acquired Mobica, a supplier of IoT software engineering services with its headquarters in Manchester, UK. Mobica's services include the whole software development lifecycle, focusing on customers' strategic internal research and development initiatives and core expertise in various domains, including testing. The purchase considerably broadens Cognizant's expertise in IoT-embedded software engineering and offers clients a broader range of end-to-end assistance to facilitate digital transformation. Moreover, in May 2023, HCL Technologies launched ADvantage Code on Amazon Web Services (AWS) marketplace. The solution enhances and automates cloud-native application development. The solution aids businesses in scaling, standardizing, and lowering infrastructure expenses. In addition, the software enhances application development by automatically producing portions of the code. The code is then regularly reviewed, tested for security and quality, and ultimately deployed to the target platform via DevOps pipelines. This strategy was implemented to strengthen HCL Technologies position in the IoT testing market. Therefore, such strategies foster the IoT testing market forecast.
COVID-19 Scenario:
• The COVID-19 pandemic had a positive impact on the IoT testing market, significantly driven by the accelerated digital transformation across industries, propelling increased adoption of IoT technologies. Sectors such as healthcare and manufacturing embraced IoT solutions for remote patient monitoring, telemedicine, and supply chain optimization, leading to a heightened demand for thorough testing to ensure reliability and accuracy.
• Overall, contactless solutions and smart retail gained prominence, requiring robust testing to ensure secure and user-friendly interactions. The emphasis on security in remote environments has heightened the need for rigorous security testing of IoT devices and networks. These positive shifts have fueled market growth and innovation during the pandemic.
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Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global IoT testing market revenue. Owing to the increasing number of connected devices and the potential for cyberattacks, there has been a strong emphasis on integrating robust security testing into IoT solutions. This includes testing for vulnerabilities, encryption, authentication, and access control. On the other hand, the Asia-Pacific region is expected to maintain its dominance during the forecast period. The same region is expected to witness the fastest CAGR of 35.9% from 2023 to 2032. Owing to the rising demand for effective manufacturing and the expansion of IT-based services in developing nations. The need for IoT testing solutions is driven by the region's significant technological advancements and demand for 5G IoT across all business sectors.
Based on testing type, the functional testing segment held the highest market share in 2022, accounting for more than two-thirds of the global IoT testing market revenue. With the growing number of cyber threats targeting IoT devices, applications, and data, testing methodologies are evolving to include comprehensive security testing. This involves assessing vulnerabilities, encryption mechanisms, and authentication protocols to safeguard IoT ecosystems. On the other hand, the performance testing to rule the roost by 2032. However, the network testing segment is projected to manifest the highest CAGR of 37.3% from 2023 to 2032. This is because network testing is moving toward replicating real-world network conditions more accurately. This includes simulating scenarios such as network congestion, intermittent connectivity, and varying signal strengths to assess IoT devices' resilience in different environments.
Based on application, the smart manufacturing segment held the highest market share in 2022, accounting for more than one-fourth of the global IoT testing market revenue. This is due to IoT-enabled systems providing manufacturers with data-driven insights that inform decision-making. As manufacturers increasingly rely on these insights to drive improvements and innovations, the demand for accurate data validation and testing grows. On the other hand, the smart building and home automation segment is expected to maintain its leadership status throughout the forecast period. However, the smart healthcare segment is projected to manifest the highest CAGR of 39.5% from 2023 to 2032. The growth is attributed to the fact that biometric authentication enables passengers to move seamlessly through various touchpoints of their travel journey, from check-in and security to boarding and baggage claim.
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Leading Market Players: -
• AFour Technologies
• Apica
• Novacoast, Inc.
• Capgemini SE
• Happiest Minds
• HCL Technologies Limited
• Infosys
• Keysight Technologies
• Praetorian
• Rapid7
The report provides a detailed analysis of these key players in the global IoT testing market. These players have adopted different strategies such as partnerships, product launches, and expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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