IoT Testing Market Insights, Share And Demand 2024-2033

"The Business Research Company recently released a comprehensive report on the Global IoT Testing Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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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Market Drivers and Trends:

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.

Virtualization for IoT test automation is the trend in the IoT testing market. The challenges in the traditional testing like scalability issues for connected devices, maintenance problem, issues in unit level code checking and high-performance deliverable problems can be resolved by virtualization in test automation. It helps in simulating hardware and software and matches the dependency with the real behavior to give proper test results. It speeds up the testing time and reduces the efforts. The sensor, API and service virtualization are some of the components with different roles. For example, Ericsson carried out the automation test in their office with 879 devices like window sensors, lights and occupancy sensors to demonstrate their Bluetooth mesh capabilities under system level simulator.

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Major Key Players of the Market:

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

IoT Testing Market 2024 Key Insights:

• 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%.
• Growth In Iot Device Usage Drives Expansion Of Iot Testing Market
• Virtualization Revolutionizes Iot Test Automation In The IOT Testing Market
• The Asia-Pacific was the largest region in the IoT testing market in 2023

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