Global IoT Testing Market to Reach US$ 33.6 Billion by 2032, Propelled by the Escalating Demand for IT-Based Services

February 24, 2023 | Technology & Media

The latest report by IMARC Group, titled “IoT Testing Market Report by Testing Type (Functional Testing, Performance Testing, Network Testing, Compatibility Testing, Usability Testing, Security Testing), Service Type (Managed Services, Professional Services), Deployment Mode (On-premises, Cloud-based), Application (Smart Building and Home Automation, Capillary Network Management, Smart Utilities, Vehicle Telematics, Smart Manufacturing, Smart Healthcare), and Region 2024-2032,” finds that the global IoT testing market size reached US$ 2.9 Billion in 2023. Internet of things (IoT) testing refers to the process of testing interconnected IoT devices to check their performance, functionality, and security and rectify them before launching into the market. It comprises functional, usability, compatibility, reliability, scalability, data integrity, security, performance, and network testing. These methods ensure a high return on investment (ROI), offer new business opportunities, speed up time-to-market, enhance interoperability, improve engagement, and provide better and quick services. As a result, IoT testing is widely adopted across various industrial verticals such as telecommunication, information and technology (IT), energy and utility, retail, manufacturing, and healthcare sectors across the globe.

Global IoT Testing Market Trends:

The market is primarily driven by the escalating demand for information technology (IT)-based services across the globe. In addition, rapid urbanization, the growing population, and the widespread adoption of mobile devices and tablets are contributing to market growth. Moreover, the growing use of microservices has resulted in the development of better IoT applications, thus accelerating the product adoption rate across the globe. Besides this, various technological advancements, such as the incorporation of big data, the internet of things (IoT), DevOps, and mobility, that enhance the ability of an organization to deliver high-velocity services and applications represent another major growth-inducing factor. Along with this, the extensive use of application programming interface (API) monitoring to gain visibility and evaluate the response, availability, performance, and functional correctness of various applications is providing a positive thrust to the market growth. Furthermore, the increasing employment of IoT testing for testing passwords and credentials and data interface of IoT devices to reduce security breaches and research and development (R&D) activities conducted by key players are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 33.6 Billion by 2032, exhibiting a CAGR of 30.8% during the forecast period (2024-2032).

Market Summary:

  • Based on the testing type, the market has been categorized into functional, performance, network, compatibility, usability, and security testing.
  • On the basis of the service type, the market has been bifurcated into managed and professional services.
  • Based on the deployment mode, the market has been classified into on-premises and cloud-based.
  • On the basis of the application, the market has been segmented into smart building and home automation, capillary network management, smart utilities, vehicle telematics, smart manufacturing, and smart health.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the industry has also been examined in the report, with some of the key players being AFour Technologies Pvt. Ltd., Apica AB, Beyond Security (HelpSystems LLC), Capgemini SE, Happiest Minds Technologies Limited, HCL Technologies Limited, Infosys Limited, Keysight Technologies, Praetorian, Rapid7 Inc., Saksoft Limited and Singapore Telecommunications Limited.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Testing Type, Service Type, Deployment Mode, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered AFour Technologies Pvt. Ltd., Apica AB, Beyond Security (HelpSystems LLC), Capgemini SE, Happiest Minds Technologies Limited, HCL Technologies Limited, Infosys Limited, Keysight Technologies, Praetorian, Rapid7 Inc., Saksoft Limited and Singapore Telecommunications Limited
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
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Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global IoT Testing Market to Reach US$ 33.6 Billion by 2032, Propelled by the Escalating Demand for IT-Based Services
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