IoT Testing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The IoT Testing Market is Segmented by Service (Professional, Managed), End-user Industry (IT and Telecommunication, Energy & Utilities, Healthcare, Retail, Manufacturing, ), and Geography.

IoT Testing Industry Overview

IoT Testing Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 32.34 %

Major Players

IoT Testing Market Major Players

*Disclaimer: Major Players sorted in no particular order


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IoT Testing Market Analysis

The IoT Testing market was valued at USD 1107.2 billion in 2020 and expected to reach USD 6042.45 billion by 2026 and grow at a CAGR of 32.34% over the forecast period (2021 - 2026). The use of IoT testing using innovative technologies has led to the increasing use of different types of testing tools for various purposes, and the market is estimated to grow at a faster rate during the forecast period.

  • Due to the increasing adoption of smartphones and mobile devices, coupled with the growing internet penetration, the evolution of IoT has witnessed immense growth in recent years. The same factor is expected to continue driving the demand for IoT solutions in the future as well. This is because the rise in the number of these devices is leading to an increase in data being generated.
  • IoT testing tools are widely being used for open-source applications and to help monitor the traffic between the sender and the receiver. Hence, IoT testing tools, along with IoT solutions, are likely to become a significant factor in driving the market demand.
  • Moreover, IoT testing services play a vital role in testing smart components and IoT applications to offer superior quality experience and services to end users. IoT testing involves real-time intelligence and communication to ensure perfect harmony between hardware and software throughout the connected network.
  • As the IoT ecosystem expands, it is likely to face problems in scaling the testing process. With microservices test automation in IoT, the complexity of testing a massive architecture is expected to reduce, as each microservice can be tested as a separate process. Utilizing microservices for IoT testing also offers benefits of testing the extensibility, scalability, and integrations of the IoT system.
  • The growing demand for IoT during the pandemic is increasing the opportunities for the growth of the IoT testing market. Owing to the recent outbreak of COVID-19, the global supply chain and demand for multiple products have experienced disruption, owing to which the IoT adoption is expected to be influenced until the end of 2020. Moreover, due to the production shutdown in countries such as China, multiple industries have observed a shortage of supply of various products during February and March.

IoT Testing Industry Segments

With the IoT gaining prevalence, the world is becoming increasingly connected, and several companies providing IoT testing services are emerging in the market space. The study on the IoT testing market was based on the testing types, services, and end-user industries, including retail, manufacturing, healthcare, energy, and utilities. The scope of the study includes the key regions, such as North America, Europe, and Asia-Pacific, in addition to Latin America and Middle-East and Africa.

End-user Industry
Energy and Utilities
IT & Telecom
Other End-user Industries
North America
Asia Pacific
Latin America
Middle East and Africa

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IoT Testing Market Trends

This section covers the major market trends shaping the IoT Testing Market according to our research experts:

Managed Services is Expected to Witness a Significant Growth Rate

  • Managed IoT testing service providers see emerging technology as a significant source of business opportunity for the next couple of years. Among managed IoT testing services, the security testing will have a more significant market share than other testing services.
  • Increase adoption of smart cities concepts has evolved the great potential of IoT in the energy and utilities, waste management, and infrastructure. The investment in IoT enabled infrastructure is expected to accentuate the demand for security testing services for those assets, which may further foster the demand for managed services in these sectors.
  • Moreover, smart devices and IoT in the retail sector help the companies to enhance the customer experience, in order to drive more conversions, altering the day-to-day store operations and may increase the managed services in this sector.
  • This encourages many companies operating in the manufacturing, healthcare, or government sectors to subscribe to security services, instead of additionally investing in acquiring the hardware and software required to establish a security system.
IoT Testing Market: IoT Installed Devices, in Billion Units, Global, 2015 - 2020

North America Occupies the Largest Market Share

  • North America is expected to hold a potentially significant share, thereby, dominating the IoT testing market. The region has substantial dominance over sustainable and well-established economies, empowering them to invest in R & D activities actively. Thus, it contributes to the development of new technologies, such as IoT, Big Data, DevOps, and mobility.
  • With the rising number of consumers embracing the smart home environment in the United States, IoT is further expanding across the North American region. According to the study, Stanford University researchers, around 66% of households in North America, possess at least one IoT device, more than a quarter of the global average of 40%. Although these technologies are increasingly on the radar of hackers, the level of security of these smart homes has been amplified as well. The increased adoption of IoT impacted the growth of the testing services market extensively.
  • Moreover, organizations are also keen to incorporate IoT technologies into their processes, which is expected to boost the growth of the IoT testing market significantly. For instance, in May 2019, Telecom giant AT&T launched its Narrowband IoT (NB-IoT) network across the United States, further highlighting the momentum behind cellular IoT.
  • Further, a number of IoT testing service providers across the region have emerged in the market, providing various managed or professional services, such as compatibility testing, pilot testing, regulatory testing, and upgrade testing.
 Global IoT Testing Market - Growth Rate by Region (2020 - 2025)

IoT Testing Market Competitor Analysis

The IoT testing market is moderately competitive and consists of a few major players. In terms of market share, some of the players currently dominate the market. However, the IoT testing solution providers are focusing on creating a point of difference among their competitors to sustain in the competitive landscape of the global market. Several players are expanding their offerings through investments in new product development backed by research and development spending.

  • May 2019 - Ixia, a Keysight Business, and Symantec extended their collaboration to better secure hybrid networks. The integration of Ixia’s CloudLens with Symantec Security Analytics, industry-leading threat detection and forensics solution, allows Symantec customers to gain real-time visibility into their hybrid cloud environments.
  • April 2019 - Beyond Security and Ubiquitous AI Corporation, U.S. based Security testing company, collaboratively developed and launched BeStorm X, which is a vulnerability verification tool designed primarily to test IoT devices. The tool is an amalgamation of Beyond Security's BeStorm version 7.6.8 and UAC's IoT technologies.

IoT Testing Market Top Players

  1. Novacoast Inc.

  2. Keysight Technologies Inc.

  3. Praetorian Group Inc.

  4. AFour Technologies Pvt Ltd

  5. Apica AB

*Disclaimer: Major Players sorted in no particular order

IoT Testing Market Concentration

IoT Testing Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increase in Security Concerns in IOT Devices

    3. 4.3 Market Restraints

      1. 4.3.1 Rising Complexity of IOT Devices

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitutes

      5. 4.4.5 Intensity of Competitive Rivalry

    5. 4.5 Discussion on Various Types of IOT Testing (Data Integrity Testing, Functional Testing, Security Testing, Performance Testing, Usability Testing, Reliability & Scalability Testing)


    1. 5.1 Service

      1. 5.1.1 Professional

      2. 5.1.2 Managed

    2. 5.2 End-user Industry

      1. 5.2.1 Retail

      2. 5.2.2 Manufacturing

      3. 5.2.3 Healthcare

      4. 5.2.4 Energy and Utilities

      5. 5.2.5 IT & Telecom

      6. 5.2.6 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia Pacific

      4. 5.3.4 Latin America

      5. 5.3.5 Middle East and Africa


    1. 6.1 Company Profiles

      1. 6.1.1 IBM Corporation

      2. 6.1.2 Apica AB

      3. 6.1.3 Afour Technologies Inc.

      4. 6.1.4 Happiest Minds Technologies Pvt. Ltd


      6. 6.1.6 Praetorian Group Inc.

      7. 6.1.7 Saksoft Limited

      8. 6.1.8 Keysight Technologies Inc

      9. 6.1.9 Novacoast Inc.

      10. 6.1.10 Trustwave Holdings Inc. (Singtel)

    2. *List Not Exhaustive

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IoT Testing Market Research FAQs

The IoT Testing Market is studied from 2018 - 2028.

The IoT Testing Market is growing at a CAGR of 32.34% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

Novacoast Inc. , Keysight Technologies Inc. , Praetorian Group Inc. , AFour Technologies Pvt Ltd, Apica AB are the major companies operating in IoT Testing Market.

IoT Testing Industry Reports

In-depth industry statistics and market share insights of the IoT Testing sector for 2020, 2021, and 2022. The IoT Testing research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the IoT Testing report PDF.

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