IoT Testing Market By Service Type, By Testing Type, By Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

List of Tables

The IoT Testing Market is likely to experience a significant growth rate of 32.6% from 2023-2032 owing to increasing market demand for smart manufacturing applications- Allied Market Research

IoT (Internet of Things) testing is the comprehensive process of evaluating and verifying the functionality, performance, security, and overall quality of IoT devices, systems, and applications. IoT testing ensures that interconnected devices can effectively communicate, exchange data, and operate as intended within complex IoT ecosystems. This testing process is vital for delivering reliable and seamless IoT solutions that meet user expectations and industry standards.

The increase in demand for IP testing of IoT devices is a key driver for the growth of the IoT testing market. The proliferation of IoT devices across industries has led to intricate ecosystems with diverse devices, platforms, and communication protocols. IP testing ensures that devices can effectively communicate with one another, fostering interoperability and avoiding communication breakdowns. As IoT networks expand, the ability to handle increased network traffic becomes even more important. Furthermore, increased deployment of microservices and rise in importance of DevOps are other factors driving the growth of the IoT testing market. DevOps methodologies emphasize continuous integration and continuous delivery (CI/CD), allowing for faster and more frequent releases of IoT applications and firmware. As IoT devices become more integral to various industries, the need for rapid development and deployment is critical. This accelerated pace demands efficient and automated testing to ensure the quality and reliability of IoT solutions. However, lack of consistency among standards for interconnectivity and interoperability is a major factor hampering the growth of the market. The absence of consistent standards leads to a diverse array of communication protocols, data formats, and connectivity mechanisms. This complexity complicates testing environments, requiring testing providers to support a multitude of variations. Moreover, the lack of standardized protocols and interfaces slows down the testing process and overall product development lifecycle. This extended time-to-market can hamper the competitiveness of IoT solutions.

The market also offers growth opportunities to the key players in the market. The increase in adoption of smart city concepts presents a significant opportunity for the IoT testing industry. Smart cities encompass a wide array of IoT applications, including smart transportation, energy management, waste management, public safety, and more. Each application domain demands specialized testing to validate its unique functionalities and interactions. In addition, smart cities generate massive volumes of data from various sources. Testing services that validate data accuracy, integrity, and analytics algorithms are vital to extracting meaningful insights.

The IoT testing market is segmented on the basis service type, testing type, application, and region. On the basis of service type, it is categorized into professional service and managed service. By testing type, it is divided into functional testing, performance testing, network testing, compatibility testing, usability testing, and security testing. As per application, it is categorized into smart building and home automation, capillary networks management, smart utilities, vehicle telematics, smart manufacturing, smart healthcare, and others. Region wise, it is analyzed across North America (the U.S., and Canada), Europe (UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

The key players profiled in the study are AFour Technologies, Apica, Novacoast, Inc., Capgemini SE, Happiest Minds, HCL Technologies Limited, Infosys, Keysight Technologies, Praetorian, and Rapid7. The players in the market have been actively engaged in the adoption various strategies such as collaboration, product launch, and partnership to remain competitive and gain advantage over the competitors in the market. 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 growth.

Key Market Insights

By service type, the professional service segment was the highest revenue contributor to the market, and is estimated to $18949.59 million by 2032, with a CAGR of 31.3%. However, the managed service segment is expected to be the fastest growing segment with the CAGR of 34.9% during the forecast period.

By testing type, the functional testing segment dominated the global market, and is estimated to reach $5505.69 million by 2032, with a CAGR of 27.0%. However, the network testing segment is expected to be the fastest growing segment with the CAGR of 37.3% during the forecast period.

By application, the smart manufacturing segment dominated the global market, and is estimated to reach $5807.32 million by 2032, with a CAGR of 28.9%. However, the smart healthcare segment is expected to be the fastest growing segment with the CAGR of 39.5% during the forecast period.

Based on region, North America was the highest revenue contributor, accounting for $685.92 million in 2022, and is estimated to reach $9335.01 million by 2032, with a CAGR of 30.2%.

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SWOT Analysis

Key Market Segments

By Service Type

Professional Service
Managed Service

By Testing Type

Functional Testing
Performance Testing
Network Testing
Compatibility Testing
Usability Testing
Security Testing

By Application

Smart Building and Home Automation
Capillary Network Management
Smart Utilities
Vehicle Telematics
Smart Manufacturing
Smart Healthcare
Others

By Region

North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
LAMEA
- Latin America
- Middle East
- Africa

Key Market Players:

Keysight Technologies
Rapid7, Inc.
Happiest Minds Technologies
Praetorian
Novacoast, Inc.
Capgemini SE
HCL Technologies Limited
Infosys
AFour Technologies
Apica

Product Code: A08127

CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
3.3. Porter's five forces analysis
- 3.3.1. Low bargaining power of suppliers
- 3.3.2. Low threat of new entrants
- 3.3.3. Low threat of substitutes
- 3.3.4. Low intensity of rivalry
- 3.3.5. Low bargaining power of buyers
3.4. Market dynamics
- 3.4.1. Drivers
  - 3.4.1.1. Rise in importance of DevOps
  - 3.4.1.2. Increase in demand for IP testing of IoT devices
  - 3.4.1.3. The increased deployment of microservices

3.4.2. Restraints
- 3.4.2.1. Lack of consistency among standards for interconnectivity and interoperability

3.4.3. Opportunities
- 3.4.3.1. Increasing demand for API monitoring
- 3.4.3.2. The increase in adoption of smart city concepts

3.5. COVID-19 Impact Analysis on the market

CHAPTER 4: IOT TESTING MARKET, BY SERVICE TYPE

4.1. Overview
- 4.1.1. Market size and forecast
4.2. Professional Service
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
4.3. Managed Service
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country

CHAPTER 5: IOT TESTING MARKET, BY TESTING TYPE

5.1. Overview
- 5.1.1. Market size and forecast
5.2. Functional Testing
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
5.3. Performance Testing
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
5.4. Network Testing
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
5.5. Compatibility Testing
- 5.5.1. Key market trends, growth factors and opportunities
- 5.5.2. Market size and forecast, by region
- 5.5.3. Market share analysis by country
5.6. Usability Testing
- 5.6.1. Key market trends, growth factors and opportunities
- 5.6.2. Market size and forecast, by region
- 5.6.3. Market share analysis by country
5.7. Security Testing
- 5.7.1. Key market trends, growth factors and opportunities
- 5.7.2. Market size and forecast, by region
- 5.7.3. Market share analysis by country

CHAPTER 6: IOT TESTING MARKET, BY APPLICATION

6.1. Overview
- 6.1.1. Market size and forecast
6.2. Smart Building and Home Automation
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
6.3. Capillary Network Management
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
6.4. Smart Utilities
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
6.5. Vehicle Telematics
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by region
- 6.5.3. Market share analysis by country
6.6. Smart Manufacturing
- 6.6.1. Key market trends, growth factors and opportunities
- 6.6.2. Market size and forecast, by region
- 6.6.3. Market share analysis by country
6.7. Smart Healthcare
- 6.7.1. Key market trends, growth factors and opportunities
- 6.7.2. Market size and forecast, by region
- 6.7.3. Market share analysis by country
6.8. Others
- 6.8.1. Key market trends, growth factors and opportunities
- 6.8.2. Market size and forecast, by region
- 6.8.3. Market share analysis by country

CHAPTER 7: IOT TESTING MARKET, BY REGION

7.1. Overview
- 7.1.1. Market size and forecast By Region
7.2. North America
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by Service Type
- 7.2.3. Market size and forecast, by Testing Type
- 7.2.4. Market size and forecast, by Application
- 7.2.5. Market size and forecast, by country
  - 7.2.5.1. U.S.
  - 7.2.5.1.1. Market size and forecast, by Service Type
  - 7.2.5.1.2. Market size and forecast, by Testing Type
  - 7.2.5.1.3. Market size and forecast, by Application
  - 7.2.5.2. Canada
  - 7.2.5.2.1. Market size and forecast, by Service Type
  - 7.2.5.2.2. Market size and forecast, by Testing Type
  - 7.2.5.2.3. Market size and forecast, by Application
7.3. Europe
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by Service Type
- 7.3.3. Market size and forecast, by Testing Type
- 7.3.4. Market size and forecast, by Application
- 7.3.5. Market size and forecast, by country
  - 7.3.5.1. UK
  - 7.3.5.1.1. Market size and forecast, by Service Type
  - 7.3.5.1.2. Market size and forecast, by Testing Type
  - 7.3.5.1.3. Market size and forecast, by Application
  - 7.3.5.2. Germany
  - 7.3.5.2.1. Market size and forecast, by Service Type
  - 7.3.5.2.2. Market size and forecast, by Testing Type
  - 7.3.5.2.3. Market size and forecast, by Application
  - 7.3.5.3. France
  - 7.3.5.3.1. Market size and forecast, by Service Type
  - 7.3.5.3.2. Market size and forecast, by Testing Type
  - 7.3.5.3.3. Market size and forecast, by Application
  - 7.3.5.4. Italy
  - 7.3.5.4.1. Market size and forecast, by Service Type
  - 7.3.5.4.2. Market size and forecast, by Testing Type
  - 7.3.5.4.3. Market size and forecast, by Application
  - 7.3.5.5. Spain
  - 7.3.5.5.1. Market size and forecast, by Service Type
  - 7.3.5.5.2. Market size and forecast, by Testing Type
  - 7.3.5.5.3. Market size and forecast, by Application
  - 7.3.5.6. Rest of Europe
  - 7.3.5.6.1. Market size and forecast, by Service Type
  - 7.3.5.6.2. Market size and forecast, by Testing Type
  - 7.3.5.6.3. Market size and forecast, by Application
7.4. Asia-Pacific
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by Service Type
- 7.4.3. Market size and forecast, by Testing Type
- 7.4.4. Market size and forecast, by Application
- 7.4.5. Market size and forecast, by country
  - 7.4.5.1. China
  - 7.4.5.1.1. Market size and forecast, by Service Type
  - 7.4.5.1.2. Market size and forecast, by Testing Type
  - 7.4.5.1.3. Market size and forecast, by Application
  - 7.4.5.2. Japan
  - 7.4.5.2.1. Market size and forecast, by Service Type
  - 7.4.5.2.2. Market size and forecast, by Testing Type
  - 7.4.5.2.3. Market size and forecast, by Application
  - 7.4.5.3. India
  - 7.4.5.3.1. Market size and forecast, by Service Type
  - 7.4.5.3.2. Market size and forecast, by Testing Type
  - 7.4.5.3.3. Market size and forecast, by Application
  - 7.4.5.4. Australia
  - 7.4.5.4.1. Market size and forecast, by Service Type
  - 7.4.5.4.2. Market size and forecast, by Testing Type
  - 7.4.5.4.3. Market size and forecast, by Application
  - 7.4.5.5. South Korea
  - 7.4.5.5.1. Market size and forecast, by Service Type
  - 7.4.5.5.2. Market size and forecast, by Testing Type
  - 7.4.5.5.3. Market size and forecast, by Application
  - 7.4.5.6. Rest of Asia-Pacific
  - 7.4.5.6.1. Market size and forecast, by Service Type
  - 7.4.5.6.2. Market size and forecast, by Testing Type
  - 7.4.5.6.3. Market size and forecast, by Application
7.5. LAMEA
- 7.5.1. Key market trends, growth factors and opportunities
- 7.5.2. Market size and forecast, by Service Type
- 7.5.3. Market size and forecast, by Testing Type
- 7.5.4. Market size and forecast, by Application
- 7.5.5. Market size and forecast, by country
  - 7.5.5.1. Latin America
  - 7.5.5.1.1. Market size and forecast, by Service Type
  - 7.5.5.1.2. Market size and forecast, by Testing Type
  - 7.5.5.1.3. Market size and forecast, by Application
  - 7.5.5.2. Middle East
  - 7.5.5.2.1. Market size and forecast, by Service Type
  - 7.5.5.2.2. Market size and forecast, by Testing Type
  - 7.5.5.2.3. Market size and forecast, by Application
  - 7.5.5.3. Africa
  - 7.5.5.3.1. Market size and forecast, by Service Type
  - 7.5.5.3.2. Market size and forecast, by Testing Type
  - 7.5.5.3.3. Market size and forecast, by Application

CHAPTER 8: COMPETITIVE LANDSCAPE

8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top player positioning, 2022

CHAPTER 9: COMPANY PROFILES

9.1. AFour Technologies
- 9.1.1. Company overview
- 9.1.2. Key Executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
9.2. Apica
- 9.2.1. Company overview
- 9.2.2. Key Executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
9.3. Novacoast, Inc.
- 9.3.1. Company overview
- 9.3.2. Key Executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.3.6. Key strategic moves and developments
9.4. Capgemini SE
- 9.4.1. Company overview
- 9.4.2. Key Executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.4.6. Business performance
- 9.4.7. Key strategic moves and developments
9.5. Happiest Minds Technologies
- 9.5.1. Company overview
- 9.5.2. Key Executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.5.6. Business performance
- 9.5.7. Key strategic moves and developments
9.6. HCL Technologies Limited
- 9.6.1. Company overview
- 9.6.2. Key Executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.6.6. Business performance
- 9.6.7. Key strategic moves and developments
9.7. Infosys
- 9.7.1. Company overview
- 9.7.2. Key Executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
- 9.7.6. Business performance
- 9.7.7. Key strategic moves and developments
9.8. Keysight Technologies
- 9.8.1. Company overview
- 9.8.2. Key Executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.8.6. Business performance
- 9.8.7. Key strategic moves and developments
9.9. Praetorian
- 9.9.1. Company overview
- 9.9.2. Key Executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.9.6. Key strategic moves and developments
9.10. Rapid7, Inc.
- 9.10.1. Company overview
- 9.10.2. Key Executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio
- 9.10.6. Business performance
- 9.10.7. Key strategic moves and developments