Proliferation of edge computing and testing M2M solutions to drive IoT test market by 2025: report
Understanding the performance of proprietary applications on connected devices outside the enterprise secure network infrastructure will be a key challenge
SANTA CLARA, Calif. — Frost & Sullivan’s recent analysis, Growth Opportunities in Test and Measurement in the IoT Market, Forecast to 2025, finds that because of COVID-19 the proliferation of machine-to-machine (M2M) devices will decrease during 2020.
Frost & Sullivan expects growth to rebound by 2021, with revenue ultimately expanding at a compound annual growth rate (CAGR) of 5.1% to reach US$3.25 billion by 2025, up from US$2.40 billion in 2019.
“5G development for IoT use cases will continue to be important during the pandemic. Given the complex nature of its deployment, there would be a requirement for software-based testing solutions that can test virtualized 5G network slices as well as test broad frequency spectrums,” said Rohan Joy Thomas, measurement & instrumentation industry analyst at Frost & Sullivan, in a prepared statement. “Going forward, understanding the performance of proprietary applications on connected devices outside the enterprise secure network infrastructure is a key challenge that test and measurement companies need to resolve.
“Of all the IoT applications, test and measurement solutions that are used to test M2M applications in the connected home environment are the most dominant, representing 45.7% of all IoT test applications. As the healthcare sector plays a crucial role in combating COVID-19, test and measurement solutions used for connected health applications will experience the highest CAGR of all applications over the forecast period.”
The proliferation of IoT across industries has presented immense growth opportunities for market participants involved in the IoT test and measurement space. Frost & Sullivan recommends that they:
- Develop solutions that can test high-speed Ethernet interfaces as well as physical entities.
- Provide over-the-air testing solutions that can test sub-6 gigahertz as well as higher millimeter wave applications.
- Introduce software testing capabilities along with artificial intelligence, machine learning, and cybersecurity to enhance the portfolio
- Provide solutions that can regulate the consumption of energy from connected devices operating at narrowband frequencies and low energy levels.