Market Synopsis: —
As per the assessment presented by Market Research Future (MRFR), the global Internet of Things (IoT) testing market is expected to strike an exponential CAGR of 33% during the forecast period 2016 to 2022. The report indicates that the global market is anticipated to scale a valuation of USD 1708 Mn by the end of 2022. The growth of the IoT industry has led to an upsurge in the adoption of connected devices across different industry verticals. This is projected to drive the expansion of the market over the next couple of years.
The growing need for the testing of Internet Protocol (IP) coupled with the need for testing of IoT applications is likely to have a positive influence on the growth of the Internet of Things (IoT) testing market in the foreseeable future.
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The Internet of Things (IoT) testing market is prognosticated to attract massive investments in the years to come and witness a drastic rise in applications. It is projected to have a favorable impact on the proliferation of the market across the review period. On the contrary, factors such as hardware-software mesh, safety concerns, privacy issues, network availability, real-time complexity & scalability of the system, etc. are poised to hinder market growth.
The prominent players in the Iot Testing Market are Cognizant (U.S.), Keysight technologies (U.S.), Infosys (India), HCL Technologies (India), Capgemini (France), TCS (India), Happiest Minds Technologies (India), AFour Technologies (U.S.), SmartBear Software (U.S.), Rapid Value Solutions (U.S.), and Rapid7 (U.S.) among others
Global Internet of Things (IoT) Testing Market - Segmentation
• By solution & services, the Internet of Things (IoT) testing market has been segmented into professional services, network intelligence solutions, and managed services.
• By deployment, the Internet of Things (IoT) testing market has been divided into cloud and on-premise.
• On the basis of organization size, the global Internet of Things (IoT) testing market is divided into large enterprise and SME business.
• Based on end-user, the Internet of Things (IoT) testing market has been segmented into BFSI, cloud service provider, CSP, healthcare, and government.
The regional analysis of the global Internet of Things (IoT) testing market is done on both regional and country-level basis. The regions studied in this report are - North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). North America is likely to hold a prominent position in the global market place owing to the rising number of connected devices in the region. The growth of the IT industry in the region is presumed to drive the expansion of the Internet of Things (IoT) testing market over the next few years. Europe is poised to exhibit a healthy growth rate across the forecast period. The growth of the regional Internet of Things (IoT) testing market can be accredited to the rising adoption of advanced technologies across industries. Asia Pacific is also anticipated to exhibit rapid developments in the foreseeable future. The growth of the end-user industries in Asia Pacific is likely to lead the proliferation of the Internet of Things (IoT) testing market across the assessment period.
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• In March 2019, Arm, a British multinational semiconductor and software design company, has announced the introduction of certification testing for the Internet of Things (IoT).
• In March 2019, Russian mobile operator MTS has announced the completion of its testing of international roaming services on the Narrow Band IoT (NB – IoT) network in Belarus.
• In March 2019, SGS, a multinational company headquartered in Geneva, Switzerland, has secured SGS Accredited Test Lab (ATL) status from Sigfox, a pioneering Internet of Things (IoT) services provider, for its certification facilities in New Taipei City (Taiwan), Shenzhen (China), and Espoo (Finland).
• In March 2019, CTIA, a wireless industry association, has approved its first device under the Internet of Things (IoT) Cybersecurity Device Program.
• In February 2019, Arm, a British multinational semiconductor and software design company, has partnered with Vodafone and China Unicom on a security certification process for the Internet of Things (IoT) devices.
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