Connected living boom demands for IoT testing & monitoring equipment

A report from Frost & Sullivan, titled Global Internet of Things Testing and Monitoring Equipment Market, found that the market earned revenues of $346.9m in 2014 and estimated this to reach $900.1m in 2021.

Educating end users on the importance of interoperability and the requirement for specialised testing equipment is vital for market success. Currently, the lack of end-user awareness on the need for proactive solutions stalls the large-scale use of IoT testing and monitoring equipment. End-user inability to identify the most appropriate solution from a plethora of identical systems too limits adoption.

High capital expenditure associated with procuring equipment coupled with inadequate standardisation around IoT adds to the challenge. Such concerns over high investment costs and standardisation should abate as IoT matures in the years ahead.

“As the escalating number of connected devices adds breadth to the IoT concept, solutions that can proactively monitor, test and zero in on anomalies in the infrastructure will garner a sustained customer base,” said Rohan Joy Thomas, Measurement and Instrumentation Research Analyst, Frost & Sullivan. “The incorporation of new testing and wireless standards will broaden testing requirements and further aid development in IoT testing and monitoring equipment.”

“Industry vendors must fill the gaps in their product portfolio in order to facilitate an open testing environment and lay the foundation for long-term growth,” added Thomas. “To that end, building partnerships with or acquiring participants from other industry niches will help solution providers extend their horizons in the global IoT testing and monitoring equipment market.”