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Global IoT Testing Market: By Service: Professional, Managed; By End-User Industry: Retail, Manufacturing, Healthcare, Energy and Utilities, IT and Telecom, Others; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
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 2022-2027 at a CAGR of around 31% to reach a value of over USD 5.70 billion by 2027.
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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.
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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.
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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 | 2021 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| 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. |
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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 Industry Opportunities and Challenges
8 Global IoT Testing Market Analysis
8.1 Key Industry Highlights
8.2 Global IoT Testing Historical Market (2017-2021)
8.3 Global IoT Testing Market Forecast (2022-2027)
8.4 Global IoT Testing Market by Service
8.4.1 Professional
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Managed
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.5 Global IoT Testing Market by End-User Industry
8.5.1 Retail
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Manufacturing
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 Healthcare
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.5.4 Energy and Utilities
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2017-2021)
8.5.4.3 Forecast Trend (2022-2027)
8.5.5 IT and Telecom
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2017-2021)
8.5.5.3 Forecast Trend (2022-2027)
8.5.6 Others
8.6 Global IoT Testing Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 International Business Machines Corporation
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 Novacoast, Inc.
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 Keysight Technologies, Inc.
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 Praetorian Security, Inc.
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 AFour Technologies Pvt. Ltd.
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 Others
12 Industry Events and Developments
List of Key Figures and Tables
1. Global IoT Testing Market: Key Industry Highlights, 2017 and 2027
2. Global IoT Testing Historical Market: Breakup by Service (USD Billion), 2017-2021
3. Global IoT Testing Market Forecast: Breakup by Service (USD Billion), 2022-2027
4. Global IoT Testing Historical Market: Breakup by End-User Industry (USD Billion), 2017-2021
5. Global IoT Testing Market Forecast: Breakup by End-User Industry (USD Billion), 2022-2027
6. Global IoT Testing Historical Market: Breakup by Region (USD Billion), 2017-2021
7. Global IoT Testing Market Forecast: Breakup by Region (USD Billion), 2022-2027
8. North America IoT Testing Historical Market: Breakup by Country (USD Billion), 2017-2021
9. North America IoT Testing Market Forecast: Breakup by Country (USD Billion), 2022-2027
10. Europe IoT Testing Historical Market: Breakup by Country (USD Billion), 2017-2021
11. Europe IoT Testing Market Forecast: Breakup by Country (USD Billion), 2022-2027
12. Asia Pacific IoT Testing Historical Market: Breakup by Country (USD Billion), 2017-2021
13. Asia Pacific IoT Testing Market Forecast: Breakup by Country (USD Billion), 2022-2027
14. Latin America IoT Testing Historical Market: Breakup by Country (USD Billion), 2017-2021
15. Latin America IoT Testing Market Forecast: Breakup by Country (USD Billion), 2022-2027
16. Middle East and Africa IoT Testing Historical Market: Breakup by Country (USD Billion), 2017-2021
17. Middle East and Africa IoT Testing Market Forecast: Breakup by Country (USD Billion), 2022-2027
18. Global IoT Testing Market Structure
Key Questions Answered in the Report
In 2021, the global IoT testing market attained a value of more than USD 1.1 billion.
The market is estimated to grow at a CAGR of 31% between 2022 and 2027.
The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach a value of over USD 5.70 billion by 2027.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
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.
The growing innovations and upgradations in the IoT devices technology are expected to be the key trends guiding the growth of the industry.
Professional and managed are the different services based on which the market has been segmented.
Retail, manufacturing, healthcare, energy and utilities, and IT and telecom, among others are the different end user industries included in the market 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 2022-2027, 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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