Industry report details the increase in demand for testing and monitoring equipment for the Internet of Things.
As the trend towards connected living and the Internet of Things (IoT) continues to permeate home, work and city solutions, the need to keep tabs on a myriad of connected devices will thrust the global IoT testing and monitoring equipment market into the spotlight, says an analysis from Frost & Sullivan. The incorporation of machine-to-machine (M2M) communication – central to IoT deployment – as well as modules that require less power and bandwidth – will bring with it several challenges that turn into a boon for testing and monitoring vendors.
The report Global Internet of Things Testing and Monitoring Equipment Market (https://www.frost.com/mae2), finds that the market earned revenues of $346.9 million in 2014 and estimates this to reach $900.1 million in 2021.
“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 Measurement and Instrumentation Research Analyst Rohan Joy Thomas. “The incorporation of new testing and wireless standards will broaden testing requirements and further aid development in IoT testing and monitoring equipment.”
Thomas says that a number of factors are slowing large-scale use of IoT testing and monitoring equipment. These include a lack of end-user awareness, inability to identify the best equipment from a plethoira of options, high capital expenditure and inadequate standardisation. Such concerns are likely to abate as IoT matures.
“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,” concluded Thomas.