The latest report by IMARC Group, titled “IoT Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global IoT testing market size reached US$ 2.1 Billion in 2022. 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$ 14.4 Billion by 2028, exhibiting a CAGR of 34.2% during the forecast period (2023-2028).
- 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.
|Base Year of the Analysis
||Testing Type, Service Type, Deployment Mode, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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
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