IoT Testing Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2023 – 2032

IoT Testing Market size is anticipated to witness healthy growth during 2023 to 2032, owing to growing adoption of connected devices across the globe. With the launch of the 5G band, the concept of connected living is likely to become a reality in coming years, making effective IoT automation testing the need of the hour to easily scale test cases and test different connectivity scenarios.
 

Meanwhile, growing investments towards IoT infrastructure by world governments as part of their smart city initiatives is further fostering the industry outlook. Furthermore, surging adoption of home automation devices equipped with IoT technology has augmented the demand for IoT testing services.
 

Despite such a broad scope for product adoption, the lack of standardization in IoT testing in many nations may pose as barriers for industry growth. IoT devices are highly vulnerable to cyberattacks, which may impede their adoption, hampering the market growth.
 

Based on testing, IoT testing market from the network testing segment is expected to show tremendous growth through 2032. Network testing helps identify security vulnerabilities in a network to minimize the risks of data breaches. As data breaches become a common occurrence in the connected world, the demand for network testing is increasing exponentially.
 

Back in 2022, around 39% of UK businesses were targeted by cyberattacks. With such instances showing no signs of going down, many government agencies are turning to network testing to minimize their impact.
 

With respect to application, IoT testing market share from the smart healthcare segment will gain remarkable momentum during the forecast timeline, fueled by the growing integration of 5G in healthcare technologies. 5G integration is a relatively novel venture for medical technologies, however, it is witnessing notable investments from private and public entities. Back in December 2022, the UK government announced plans to accelerate research on 5G and 6G technology as part of its £110 million (USD 135 million) telecoms R&D package. The segment scenario is also driven by the emerging field of mHealth, birthed by the COVID-19 pandemic.
 

Regionally speaking, Europe IoT testing market is set to increase exponentially till 2032, due to growing development of industrial internet of things (IIoT) initiatives in nations such as Germany. Moreover, surging investments in smart city infrastructure are further creating strong impetus for regional expansion. In fact, as part of its coronavirus stimulus package, Germany invested over €500 million (USD 541 million) towards its smart city development efforts.
 

Some prominent IoT testing industry contenders include names such as Saksoft, Apica Systems, Happiest Minds Technologies, Keysight Technologies, Trustwave Holdings (Singapore Telecommunications Limited), IXIA, and Cognizant. These companies are heavily reliant upon frequent product innovations to remain competitive in this rapidly evolving market.
 

Citing an instance, in October 2021, Keysight Technologies, an American electronics company, launched a new IoT security assessment software to help IoT chip and device manufacturers or those deploying IoT devices conduct an automated cybersecurity assessment. 
 

Impact of Russia-Ukraine war on IoT testing market

The Russia-Ukraine war had a negative impact on IoT testing industry on account of supply chain upheavals. Both the affected economies are major producers are semiconductors, but the war has further exacerbated the ongoing chip shortage, making IoT device production difficult. However, consolidated efforts by governments across the world toward ending the conflict are likely to bring some relief to the industry. 

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