IoT Testing Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

IoT testing is a way to perform QA testing to verify the IoT device’s performance, functionality, and security.

Sizing and Forecast
The iot testing market size has grown exponentially in recent years. It will grow from $1.21 billion in 2023 to $1.64 billion in 2024 at a compound annual growth rate (CAGR) of 35.7%.  The  growth in the historic period can be attributed to diverse device ecosystem, increased complexity of iot solutions, industry standards and compliance, rise in security concerns, demand for quality assurance.

The iot testing market size is expected to see exponential growth in the next few years. It will grow to $5.1 billion in 2028 at a compound annual growth rate (CAGR) of 32.8%.  The growth in the forecast period can be attributed to scale of iot deployments, integration with ai and ml, focus on edge computing, evolving connectivity standards, continuous deployment practices. Major trends in the forecast period include edge computing testing challenges, continuous testing in devops, test automation growth, compliance and regulatory testing, ai and ml in testing.

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Segmentation & Regional Insights
The iot testing market covered in this report is segmented –
1) By Testing Type: Functional Testing, Usability Testing, Security Testing, Compatibility Testing, Performance Testing, Network Testing
2) By Testing Tools: Software Tools, Hardware Tools
3) By Applications: Connected Cars, Smart Appliances, Smart Energy Meters, Wearable Devices, Smart Healthcare Devices

The Asia-Pacific was the largest region in the IoT testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global iot testing market share report during the forecast period. The regions covered in the iot testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Rise in number of IoT (Internet of Things) devices in use increases the need to test the devices which drives the IoT testing market. IoT is a system of connected devices that can be accessed through internet. IoT is used in vast range of gadgets and applications such as smart watch, refrigerators, air conditioners, lock system, infrastructure and healthcare products. It is highly important to test the devices in order to ensure their connectivity, performance, usability and security. According to the estimates of Gartner, the number of IoT devices in use is expected to grow above 20 billion by 2026. This rise in use of IoT devices will contribute to the growth of the iot testing market.

Key Industry Players
Major companies operating in the iot testing market report are AT&T Inc., Huawei Technologies Co. Ltd., Siemens AG, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Verizon Enterprises Solutions LLC, HP Enterprise Company LLC, Infineon Technologies AG, Fortinet Inc., Symantec Corporation, Gemalto NV, ARM Holdings plc, Check Point Software Technologies Ltd., PTC Inc., Alcatel-Lucent SA, Forgerock Inc., Trustwave Holdings Inc., NSIDE Secure Inc., Allot Communications Ltd., Armis Inc., Sophos Group plc, Broadcom Inc., Wurldtech Security Inc., Centri Security Inc., SecuriThings, Mocana Corporation, Newsky Security Inc., Axeda Machine Cloud LLC, NETCOM On-Line Communication Services Inc., Palo Alto Networks Inc., Rapid7 Inc., SimpliSafe Inc., Cradlepoint Inc., SonicWall Inc., Medigate Corporation, CyberMDX Healthcare Cybersecurity, Entrust Datacard Corporation, Microsoft Corporation, Amazon Web Services, Google LLC, Ericsson AB, Thales Group, Atos SE

The iot testing market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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