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(Wireless-NewsWire.Com, December 07, 2018 ) According to a new market research report "Internet of Things (IoT) Testing Market by Testing Type (Functional, Performance, Network, Security, Compatibility, and Usability), Service Type (Professional and Managed), Application Type, and Region - Global Forecast to 2021", published by MarketsandMarkets™, the IoT testing market size is estimated to grow from USD 302.9 Million in 2016 to USD 1,378.5 Million by 2021, at a Compound Annual Growth Rate (CAGR) of 35.4%.
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The major forces driving the IoT testing market include the growing need for Internet Protocol (IP) testing of the increasing number of IoT devices and applications. Moreover, the need for shift left testing of IoT applications and the rising importance of DevOps are also some of the factors which are driving the market.
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There are several established players in this market such as Cognizant (U.S.), Infosys (India), HCL Technologies (India), Capgemini (France), TCS (India), Happiest Minds Technologies (India), AFour Technologies (U.S.), SmartBear Software (U.S.), Rapid Value Solutions (U.S.), and Rapid7 (U.S.). These leading players have adopted various strategies such as partnerships, collaborations, agreements, mergers & acquisitions, and new product developments to achieve growth in the global IoT testing market.
Cognizant is one of the leading players in the IoT testing market. The company adopted both organic as well as inorganic strategies to enhance its presence in the market. It entered into various partnerships and strategic alliances with local as well as global players. For instance, in November 2016, Cognizant partnered with TRICENTIS, a leading provider of cross-industry expertise in software testing and software quality assurance. This partnership enabled both the companies to deliver a Test Suite as an Intelligent Automated Test Solution (TOSCA) to its commercial clients. In October 2016, the company acquired the ITO and BPO business segments of Frontica Business Solutions, a leading provider of IT services and solutions. This acquisition enabled Cognizant to develop its business in Nordics and other European countries. This acquisition also helped Cognizant in providing IoT testing offerings to its commercial customers in Europe.
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Infosys is another major vendor in the IoT testing market. The company has a strong geographic presence worldwide, including North America, APAC, MEA, Europe, and Latin America. The company focuses more on inorganic growth strategies to tap into the IoT testing market. For instance, in September 2015, Infosys partnered with General Electric, a leading technology provider of digital industrial solutions. This partnership enabled Infosys and GE to improve asset efficiency and build intelligent linkages between design, production, and field testing of its commercial clients. In March 2014, Infosys partnered with Prime Therapeutics, a leading Pharmacy Benefit Manager (PBM) to set up a testing Center of Excellence (COE) and also helped its commercial clients to consolidate the delivery of its application testing services.
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