The IoT Testing market was valued at USD 665.47 million in 2019 and is expected to reach USD 3212.10 million by 2025, at a CAGR of 30% over the forecast period 2020 - 2025. The use of IoT testing using innovative technologies has led to the increasing use of different types of testing tools for the various purpose where the market is estimated to grow at a faster rate during the forecast period.
- Internet of Things has turned out to be one of the biggest software that has developed and brought opportunities in the testing process, and in the coming future Internet of Things would be widely used in each and every sector by the generation, which is expected to raise the demand for the IoT testing market during the forecast period.
- The IoT testing tools are widely being used for open-source application and also help to monitor the traffic between the sender and the receiver. Hence, IoT Testing tools along with the IoT solutions will become the major factor in driving the market demand.
- Moreover, IoT testing services play a vital role in testing smart components and IoT applications, to offer superior quality experience and services to end-users.
Scope of the Report
With the Internet of Things (IoT) coming into prevalence the world is becoming increasingly connected and companies providing IoT testing services are emerging. From security systems, appliances, other emerging connected devices to the mobile apps are moving beyond computers, tablets, and smartphones to just about every connected devices under the scope of the market. The complex architecture of IoT systems and their unique characteristics make it mandatory to perform various types of testing across all system components.
Key Market Trends
Managed Services Is Expected to Witness a Significant Growth Rate
- With the increasing adoption of Industry 4.0 policies in the industrial sector, the applications of the industrial IoT or IIoT are now being introduced in the market. According to the International Federation of Robotics (IFR), the sale of service robots, which are a significant source of demand for IoT security services, have rapidly increased by 46% in the logistics sector, by 5% in the defense sector, and by 18% in field service applications.
- There has been a considerable increase in the number of attacks on IoT devices, especially on the industrial systems, targeting critical government systems, such as the energy & power sector and nuclear arsenals.
- This encourages many companies operating in the manufacturing, healthcare, or government sectors to subscribe to security services, instead of additionally investing in acquiring the hardware and software required to establish a security system.
North America Occupies The Largest Market Share
- North America is expected to hold the largest market share thereby dominating the IoT testing market as this region has major dominance with sustainable and well-established economies, empowering them to strongly invest in research and development activities, thereby contributing to the development of new technologies such as IoT, big data, DevOps, and mobility.
- This adoption impacted the growth of testing services market extensively. Organizations are also keen to integrate IoT technologies in their processes, which is expected to boost the growth of the IoT testing market significantly.
- Moreover, a number of IoT testing service providers across the region have emerged into the market, providing various managed or professional services such as compatibility testing, pilot testing, regulatory testing, and upgrade testing.
The IoT testing market is moderately competitive and consists of a few major players. In terms of market share, some of the players currently dominate the market. However, with the advancement in the IoT application, new players are increasing their market presence thereby expanding their business footprint across the emerging economies.
- May 2019 - Ixia, a Keysight Business, and Symantec have extended their collaboration to better secure hybrid networks. The integration of Ixia's CloudLens with Symantec Security Analytics, industry-leading threat detection, and forensics solution, allows Symantec customers to gain real-time visibility into their hybrid cloud environments.
- April 2019 - Trustwave unveiled new database security scanning and testing software that helps organizations better protect critical data assets hosted on-site or by major cloud service providers from advanced threats, configuration errors, access control issues, unauthorized privilege escalation, missing patches and more.
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