Proliferation of IoT Applications Regulatory Compliance & Standards to boost the Growth of the Global IoT Testing Market
Global IoT Testing Market to Reach US$ 29.8 Bn By 2031; Anticipated to Experience CAGR of 24.8% during 2023 – 2031
WILMINGTON, DELAWARE, UNITED STATES, December 4, 2023 /EINPresswire.com/ — IoT testing involves assessing the reliability and effectiveness of Internet of Things (IoT) devices and networks. It verifies that IoT devices function correctly, communicate data accurately, and remain secure against potential threats. This testing is essential to ensure the smooth operation and trustworthiness of interconnected smart devices and systems.
Read Full Report: Global IoT Testing Market Study
Global IoT Testing Market Growth Drivers
Proliferation of IoT Applications across Industries: A significant driver in the IoT testing market is the widespread adoption of IoT across various industries. For instance, the healthcare sector is leveraging IoT for remote patient monitoring, with the global remote patient monitoring market projected to reach $1.8 billion by 2027. Similarly, the agriculture sector is employing IoT for precision farming, aiming to reach $10.2 billion by 2025. This surge in IoT adoption necessitates rigorous testing to ensure functionality and reliability, as each sector has unique requirements. As IoT continues to penetrate diverse industries, testing solutions remain essential to guarantee seamless integration and performance.
Regulatory Compliance and Standards: Presently, regulatory compliance and standards are playing a crucial role in shaping the IoT testing landscape. Governments and industry bodies are establishing strict regulations and guidelines to ensure the safety and reliability of IoT devices. For instance, the European Union’s General Data Protection Regulation (GDPR) mandates stringent data protection measures for IoT devices. As a result, companies are investing in IoT testing to adhere to these regulations, avoid legal repercussions, and gain consumers’ trust. This trend underscores the growing importance of compliance-driven testing within the IoT market.
Which Testing Type Will Have the Highest Share in the Global IoT Testing Market in the Upcoming Years?
The functional testing segment dominated the global IoT testing market by type in 2022. The dominance can be attributed to its pivotal role in ensuring the core functionality of IoT devices and systems. Functional testing verifies if devices perform as intended and meet user expectations. With the IoT ecosystem expanding rapidly, consumers expect seamless and reliable device operation. This study observed that a majority of consumers consider reliable device performance the most crucial aspect of IoT. As IoT applications diversify across industries, functional testing remains vital for quality assurance, driving its dominance in the market, as it directly impacts user satisfaction and brand reputation.
Based on the Application Segment, Which is the Fastest Growing Segment in the Global IoT Testing Market during the Forecast Period?
Among applications, the vehicle telematics segment is anticipated to be the fastest growing segment in the global IoT testing market during the forecast period due to the rising adoption of IoT in the automotive industry. Vehicle telematics, which involves gathering and transmitting data from vehicles to improve safety, efficiency, and maintenance, is experiencing explosive growth. For instance, this study estimates that the number of connected cars will reach 75 million by 2025. IoT testing ensures the reliability of these systems, which are crucial for fleet management, predictive maintenance, and autonomous driving development. As automotive IoT applications become more integrated, the demand for rigorous testing to guarantee their functionality, security, and safety is on a steep upward trajectory, driving this segment’s rapid growth.
Based on Regions, Which Region had the Highest Share in the IoT Testing Market in 2022?
North America dominated the IoT testing market in 2022. The dominance can be attributed to its robust technology ecosystem, extensive IoT adoption, and significant investments in research and development. The region boasts a thriving tech industry, with the US at the forefront of IoT innovation. In 2021, the US had over 25 billion IoT devices in use, showcasing its pivotal role. Additionally, regulatory frameworks like the Cybersecurity Improvement Act and NIST guidelines drive IoT security testing. With numerous IoT startups and established players, North America leads in developing and implementing IoT solutions, fostering a high demand for testing services to ensure quality, security, and compliance.
Key Market Participants: Global IoT Testing Market
o Afour Technologies
o Apica
o Capgemini
o Happiest Minds
o HCL Technologies Limited
o Infosys Limited
o Keysight Technologies
o Novacoast, Inc.
o Praetorian
o Rapid7
o Other market participants
Global IoT Testing Market
By Service Type
o Professional Service
o Managed Service
By Testing Type
o Functional Testing
o Performance Testing
o Network Testing
o Compatibility Testing
o Usability Testing
o Security Testing
By Application
o Smart Manufacturing
o Smart Healthcare
o Vehicle Telematics
o Smart Building and Home Automation
o Capillary Network Management
o Smart Utilities
o Others
By Region
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)
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The Niche Research
+1 302-232-5106
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