IoT Testing Equipment Market to Expand At a 31.3% CAGR, Exceeding US$ 34 Billion by 2032 | Future Market Insights

The Global IoT Testing Equipment demand is projected to be valued at US$ 2.24 Billion in 2022, forecast to grow at a CAGR of 31.3% to be valued at US$ 34 Billion from 2022 to 2032. Growth is attributed to the rising demand for renovation projects and development in residential and commercial construction.

The growing adoption of IoT across the industry is fuelling the demand for the IoT testing equipment market. Testing the overall behavior of IoT devices is one of the important parameters for device lifecycle and ensuring the proper functionality of IoT devices. IoT testing equipment monitors and performs various tests to ensure the proper functioning of IoT devices.

The various test approaches used by IoT testing equipment are usability, IoT security, connectivity, performance, compatibility testing, pilot testing, regulatory testing, upgrade testing, and others. The proper network connectivity and performance of the IoT device is one of the critical parameters and is driving the demand for the IoT testing equipment market.

Considering the complex architecture of the IoT system, compatibility with the device is a must. IoT testing equipment tests the items such as versions, browser type, generation of devices, and others. IoT testing equipment performs the compatibility test of devices before installation.

When IoT is considered, pilot testing is essential for the test to be performed. Lab testing may not be sufficient since IoT devices may backfire when exposed to the real world. IoT testing equipment performs pilot testing with a limited number of devices and records the behavior of IoT devices. Since standards and regulations play a key role IoT testing equipment performs the regulatory test to ensure the standards and compliance of connected devices.

Vendors offer IoT testing equipment with updated hardware and software to efficiently perform the tests. IoT testing equipment is used in all the phases of the development of IoT devices, i.e. research & development, design & validation, compliance, manufacturing, deployment, and services.

IoT testing equipment covers all cellular and non-cellular technologies such as NB-IoT, LTE-M, Sigfox, LoRa WAN, and others. The IoT testing equipment is segmented as hardware and software. IoT Testing equipment’s software is Wireshark, Tcpdump, and others.

IoT testing equipment hardware includes devices such as JTAG Dongle, Software defined radio, Digital storage oscilloscope, and others. The advantages of IoT testing equipment are improved connectivity, predictive management, remote maintenance, and others. Several developments in the IoT testing equipment concerning technology are expected to drive the growth of the global IoT testing equipment market during the forecast period.

IoT Testing Equipment Market: Drivers and Challenges

The increasing adoption of IoT devices in the residential, industrial, and commercial sectors is driving the global IoT testing equipment market. The government initiatives such as smart cities, connected buildings, and smart homes are fuelling the global IoT testing equipment market.

The continuous development in infrastructure, increasing adoption of smartphones, and others are also expected to have a positive impact on the growth of the global IoT testing equipment market.

The challenges associated with the growth of the global IoT testing equipment market are the failure in real-time data testing, hardware-software compatibility, and others. However, vendors are continuously focused on the development of advanced IoT testing equipment to overcome the above-mentioned challenges.

IoT Testing Equipment Market: Regional Overview

North America and Western Europe are expected to have a prominent market share of the global IoT test equipment market during the forecast period. The huge adoption of IoT in the countries of these regions is expected to drive the global IoT testing equipment market. The developing countries of APEJ and Latin America such as Mexico, India, China, and others are expected to project high Y-o-Y during the forecast period of the global IoT testing equipment market.

Market Competition

Some of the key participants present in the global demand of the IoT Testing Equipment market include McGrath RentCorp, Inc., Anritsu, ROHDE&SCHWARZ, Keysight Technologies, Ixia, RIGOL Technologies, Inc., Tekronix, Infostretch Corporation, Shenzhen Te-lead Technologies Co., Ltd, Test IO, and others and other IoT Testing Equipment manufacturers., among others

• In July 2020, Mobileum, a US-based provider of analytics-based roaming, network security, and risk management acquired SIGOS for an undisclosed amount. This acquisition will help Mobileum to provide end-to-end testing for 5G and IoT to its customers. SIGOS is a Germany-based provider of active testing and fraud detection technologies.
• In Oct 2020, Lenovo launched a set of ThinkIoT Smarter Store Solutions to assist retailers in improving productivity and store safety.