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Global IoT Testing Market to Grow at a CAGR of 31% During 2022-2027, Aided by the Growing Penetration of Internet of Things

IoT Testing Market

Global IoT Testing Market Size, Share, Trends, Forecast: By Service: Professional, Managed; By End-User Industry: Retail, Manufacturing, Healthcare, Energy and Utilities, IT and Telecom, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global IoT Testing Market Outlook

The global IoT testing market stood at a value of more than USD 1.1 billion in 2021. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of around 31% to reach a value of over USD 5.70 billion by 2027.

 

Global IoT Testing Market

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Growing Adoption of Professional IoT Testing Services to Bolster the Growth of the IoT Testing Industry

Based on service, the professional segment accounts for a significant share in the market and is anticipated to witness a healthy growth in the forecast period. The professional IoT testing services help improve various operations by offering expertise in compatibility, pilot, scalability, and regulatory testing for large enterprises, data centres, and others. Over the forecast period, the increasing outsourcing of professional IoT testing services by the small, medium, and large enterprises is likely to propel the market growth. Moreover, the growth of this segment will further be aided by the fact that the professional services trivialise the need for training and hiring of employees, especially for the purpose of IoT testing, which helps an organisation save significant amount of time and money.

 

North America Accounts for a Significant Share in the Market

The IoT testing industry in North America is driven by the rapid expansion of the IT sector, coupled with the increased penetration of the IoT technology. The increased awareness about the various advantages offered by the IoT has been supporting the demand for IoT testing in the region. IoT helps an organisation expand its reach owing to its capability to bolster operational services and enhance time management. Furthermore, the growing adoption of IoT in the residential sector of the United States and Canada, owing to the early adoption of advanced technology in the countries, is anticipated to offer lucrative opportunities for the market expansion in the forecast period.

 

IoT Testing: Market Segmentation

IoT (Internet of Things) testing is defined as the type of testing which is carried out to check the performance of IoT devices. IoT testing helps enhance the productivity of the system by preventing unexpected glitches. This type of testing provides greater insight and control over various devices. Moreover, IoT testing helps bolster the accessibility, usage, and efficiency of network and connected devices, which is one of its major advantages.

 

Global IoT Testing Market by Segment

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Based on service, the market is segmented into:

  • Professional 
  • Managed

The major end user industries of IoT testing include:

  • Retail 
  • Manufacturing
  • Healthcare
  • Energy and Utilities
  • IT and Telecom
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global IoT Testing Market by Region

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Rising Application in the IT and Telecom Sector to Boost the Growth of the IoT testing Industry

The global IoT testing industry is driven by the rising application of IoT testing in the IT and telecom industry. IoT is an integral part of IT and telecom sector, as it helps improve data management, along with augmenting the performance of the network that a customer uses. Further, it is important to monitor the performance levels of IoT devices in order to meet the customer demand, leading to a better operation capability of the business. These factors are likely to propel the market growth in the forecast period. Additionally, IoT testing helps ensure the reliability of IT and telecom services, which is likely to be a major driving factor for the market. IoT testing ensures perfect harmony between hardware and software throughout the connected network via real-time intelligence and communication, which will provide impetus to the market in the coming years.

 

Key Industry Players in the Global IoT Testing Market

The report gives a detailed analysis of the following key players in the global IoT testing market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • International Business Machines Corporation
  • Novacoast, Inc.
  • Keysight Technologies, Inc.
  • Praetorian Security, Inc.
  • AFour Technologies Pvt. Ltd.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Service, End User Industry, Region
Breakup by Service Professional, Managed
Breakup by End-User Industry Retail, Manufacturing, Healthcare, Energy and Utilities, IT and Telecom, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered International Business Machines Corporation, Novacoast, Inc., Keysight Technologies, Inc., Praetorian Security, Inc., AFour Technologies Pvt. Ltd., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global IoT Testing Market Analysis
    8.1    Key Industry Highlights
    8.2    Global IoT Testing Historical Market (2018-2023) 
    8.3    Global IoT Testing Market Forecast (2024-2032)
    8.4    Global IoT Testing Market by Service
        8.4.1    Professional 
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Managed
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global IoT Testing Market by End-User Industry
        8.5.1    Retail
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Manufacturing
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Healthcare
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Energy and Utilities
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    IT and Telecom
            8.5.5.1    Historical Trend (2018-2023)
            8.5.5.2    Forecast Trend (2024-2032)
        8.5.6    Others
    8.6    Global IoT Testing Market by Region       
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2023) 
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2023) 
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2023) 
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2023) 
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2023) 
            8.6.5.2    Forecast Trend (2024-2032)
9    North America IoT Testing Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe IoT Testing Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific IoT Testing Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America IoT Testing Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa IoT Testing Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    International Business Machines Corporation
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Novacoast, Inc.
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Keysight Technologies, Inc.
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Praetorian Security, Inc.
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    AFour Technologies Pvt. Ltd.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global IoT Testing Market: Key Industry Highlights, 2018 and 2032
2.    Global IoT Testing Historical Market: Breakup by Service (USD Billion), 2018-2023
3.    Global IoT Testing Market Forecast: Breakup by Service (USD Billion), 2024-2032
4.    Global IoT Testing Historical Market: Breakup by End-User Industry (USD Billion), 2018-2023
5.    Global IoT Testing Market Forecast: Breakup by End-User Industry (USD Billion), 2024-2032
6.    Global IoT Testing Historical Market: Breakup by Region (USD Billion), 2018-2023
7.    Global IoT Testing Market Forecast: Breakup by Region (USD Billion), 2024-2032
8.    North America IoT Testing Historical Market: Breakup by Country (USD Billion), 2018-2023
9.    North America IoT Testing Market Forecast: Breakup by Country (USD Billion), 2024-2032
10.    Europe IoT Testing Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    Europe IoT Testing Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Asia Pacific IoT Testing Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Asia Pacific IoT Testing Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Latin America IoT Testing Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Latin America IoT Testing Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Middle East and Africa IoT Testing Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Middle East and Africa IoT Testing Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Global IoT Testing Market Structure

Key Questions Answered in the Report

What was the global IoT testing market size in 2021?

In 2021, the global IoT testing market attained a value of more than USD 1.1 billion.

What is the growth rate of the market?

The market is estimated to grow at a CAGR of 31% between 2024 and 2032.

What is the forecast outlook of the market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of over USD 5.70 billion by 2027.

What are the major regional markets of IoT testing, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major industry drivers?

The major drivers of the market include the growing application of IoT testing in various end use industries, significant expansion of the IT and telecom industry in emerging economies, growth of professional IoT testing services, and increasing penetration of the IoT in small, medium, and large enterprises.

What are the key industry trends of the global IoT testing market?

The growing innovations and upgradations in the IoT devices technology are expected to be the key trends guiding the growth of the industry.

What are the different services on the basis of which the market has been segmented?

Professional and managed are the different services based on which the market has been segmented.

What are the different end user industries included in the market report?

Retail, manufacturing, healthcare, energy and utilities, and IT and telecom, among others are the different end user industries included in the market report.

Who are the key industry players, according to the report?

The major players in the industry are International Business Machines Corporation, Novacoast, Inc., Keysight Technologies, Inc., Praetorian Security, Inc., and AFour Technologies Pvt. Ltd., among others.

Analyst Review

The global IoT testing market attained a value of more than 1.1 billion in 2021, driven by the growing adoption of connected devices and systems by small, medium, and large enterprises. Aided by the growing investments towards the upgradation of the IoT technology, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 31%. The market is projected to reach USD 5.70 billion by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on services, the market is divided into professional and managed. The significant end user industries include retail, manufacturing, healthcare, energy and utilities, and IT and telecom, among others. The major regional markets for IoT testing are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include International Business Machines Corporation, Novacoast, Inc., Keysight Technologies, Inc., Praetorian Security, Inc., and AFour Technologies Pvt. Ltd., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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