(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 31, 2024 (GLOBE NEWSWIRE) -- The "IoT Testing Services Market" report has been added to ResearchAndMarkets.com's offering.
The IoT Testing Services market was valued at USD 3.2 billion in 2024 and expected to reach USD 10.4 billion by 2029, rising at a CAGR of 22.6%. Internet of Things (IoT) testing services are a collection of processes, tools, and methodologies used to test IoT systems and applications. IoT systems are made up of networked devices, sensors, software, and networks that share data. These systems are tested to ensure they operate accurately, safely, and effectively in real-world scenarios. IoT testing is critical for ensuring the dependability, safety, and seamless integration of IoT technology across industries.
Technological Advances and Applications
Automated testing tools and frameworks are crucial for managing large volumes of data and interactions in IoT environments. Integrating artificial intelligence (AI) and machine learning (ML) in testing enables more intelligent testing processes that can adapt to evolving scenarios and data patterns. The emergence of edge computing, blockchain, and digital twin technologies in IoT testing enables more robust real-time testing capabilities.
Market Dynamics and Growth Factors
The market is expected to grow at a compound annual growth rate (CAGR) of 22.6% during the forecast period, due to rising adoption of automated testing tools, growth of IoT testing-as-a-service (TaaS), and demand for 5G-driven testing. Growing demand for IoT security services, increased demand for IP testing of IoT devices, and government initiatives for smart cities will create opportunities for market growth in the forecast period. However, the industry faces challenges such as a lack of standards for interconnectivity and interoperability in IoT solutions.
Report Scope
This report provides an overview of the global IoT testing services market and examines market trends. It includes base year data from 2023 and projected data from 2024 to 2029. The report analyzes the global market revenue by three segments - service type, testing type, and end-user industry and by region - North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
The report examines the trends and challenges driving the market and the companies operating in it. It analyzes patent activity and emerging technologies in the IoT testing services market. The report also examines the competition among major players and provides profiles of leading companies. It also looks at environmental, social, and corporate governance (ESG) developments.
The report includes:
An analysis of the global IoT (Internet of Things) testing services market Analyses of global market trends, with market revenue data for 2023, estimates for 2024, forecast for 2025 and 2028, and projected CAGRs through 2029 Estimates of the size and revenue prospects of the global market, along with a market share analysis by service type, testing type, end-user industry, and region Discussion of the major factors influencing the growth of this market, including opportunities and challenges, emerging technologies and future prospects An overview of the emerging trends and technologies, and key patents related to IoT testing services Overview of sustainability trends and ESG developments, with a focus on consumer attitudes, companies' ESG risk ratings and their ESG practices Analysis of the competitive landscape, including companies' market shares and rankings, strategic alliances, M&A activity and a venture funding outlook Profiles of the market leaders in the IoT Testing Services Market including: Afour Technologies Apexon AT&T Einfochips Happiest Minds Impactqa Qatestlab Rapid7 Testfort Testingxperts
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 72 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $3.2 Billion |
| Forecasted Market Value (USD) by 2029 | $10.4 Billion |
| Compound Annual Growth Rate | 22.6% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Executive Summary
Chapter 2 Market Overview
Current and Future Market Analysis of Macroeconomic Factors Russia-Ukraine War Impact
Chapter 3 Market Dynamics
Market Drivers Adoption of Automated Testing Tools IoT Testing-as-a-Service (TaaS) Demand for 5G-Driven Testing Market Challenges Lack of Standards for Interconnectivity and Interoperability Technological Complexity and Security Concerns Market Opportunities Demand for IoT Security Services Increase in Demand for IP Testing of IoT Devices Government Initiatives for Smart Cities
Chapter 4 Emerging Technologies and Developments
Emerging Technologies and Trends Edge Computing Blockchain Digital Twins Patent Analysis
Chapter 5 Market Segmentation Analysis
Market Breakdown, by Service Type Professional Services Managed Services
Market Breakdown, by Testing Type Functional Testing Performance Testing Network Testing Compatibility Testing Security Testing Usability Testing
Market Breakdown, by End-User Industry IT and Telecom Retail and Logistics Manufacturing Energy and Utilities Healthcare Other End Users
Chapter 6 Competitive Intelligence
Chapter 7 Sustainability in IoT Testing Services Industry: An ESG Perspective
Current Status of ESG in the IoT Testing Services Market ESG Practices in the IoT Testing Services Market
Company Profiles
Some of the major companies in the IoT Testing Services market, which are profiled in this report include:
Afour Technologies Apexon AT&T Einfochips Happiest Minds Impactqa Qatestlab Rapid7 Testfort Testingxperts
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IoT Testing Services Market
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