The Business Research Company’s IoT Testing Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, June 14, 2021 /EINPresswire.com/ — The global IoT testing market is expected to grow from $0.76 billion in 2020 to $0.83 billion in 2021 at a compound annual growth rate (CAGR) of 9.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The IoT (Internet of Things) testing market is expected to reach $2.21 billion in 2025 at a CAGR of 27.7%.
TBRC’s IoT testing market report is segmented by testing type into functional testing, usability testing, security testing, compatibility testing, performance testing, network testing. The Internet of Things testing market is also segmented by testing tools into software tools, hardware tools and by applications into connected cars, smart appliances, smart energy meters, wearable devices, smart healthcare devices.
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The internet of things (IoT) testing market is regulated by government bodies such as Federal Trade Commission, Federal Communications Commission and others. For instance, Federal Trade Commission (FTC) of the USA regulates any illegal or anti-competitive behavior in the market and takes initiatives to ensure the security of a device. FTC has implemented acts for safety and security reasons for cases of security breach ranging from camera to routers against IoT providers. This regulation also applies to the USA based providers dealing outside the country. The act includes sanctions of fines, reinstitutions of victims, recalls of faulty devices, imprisonment and demands for documentary evidence. Section 45 of the Act includes rules for unfair method of competition and section 50 includes offenses and penalties.
IoT testing market trends include mergers and acquisitions. In August 2018, SmartBear, an IT company delivering software testing, application performance monitoring and other software development tools acquired Zephyr for undisclosed sum. This acquisition will help the SmartBear to be ahead of all the other existing players and will be providing a vast set of test management solutions and establishing itself as a leader. Zephyr is an on-demand test solution provider founded in 2007 and headquartered in San Jose, California, USA.
Major players in the IoT (internet of Things) testing market are HCL Technologies Ltd, Tata Consultancy Services Limited, Happiest Minds, RapidValue Solutions, and AFour Technologies.
IoT Testing Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides IoT testing market overview, forecast IoT testing market size and growth for the whole market, IoT testing market segments, and geographies, IoT testing market trends, IoT testing market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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