According to The Insight Partners’ latest market study on “Wireless Testing Market to 2027 – COVID-19 Impact and Global Analysis and Forecast – by Offering (Equipment and Services), Technology (Bluetooth, Wi-Fi, GPS, 2G/3G, 4G/LTE, and 5G), and Application (Consumer Electronics, Automotive, IT and Telecommunication, Energy and Power, Medical Devices, Aerospace and Defense, Industrial, and Others),” the market was valued at US$ 10,346.2 million in 2019 and is projected to reach US$ 17,379.7 million by 2027; it is expected to grow at a CAGR of 6.8% from 2019 to 2027.
Rising Demand for Cloud Computing and IoT Devices
Cloud technology has been tremendously adopted by all the verticals globally. The technology has brought a massive enhancement into the data storage in the cloud. Individuals and businesses find this technology relevant to their daily use, and the government is highly investing in cloud computing to implement it in all industries. For instance, in October 2020, The European Union stated that it would invest ~US$ 12.05 billion over the next seven years to build a cloud computing sector. A declaration has been signed by twenty-five European countries to drive cloud technology. Cloud computing has developed as a vital model that has attracted significant attention in various industries. The vendors are providing a cloud-based deployment model to mitigate the infrastructure cost for the clients. With the rising advancements in cloud computing, there is a substantial increase in mobile subscriptions.
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Strategic Insights
Players operating in the wireless testing market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the Wireless testing market. A few developments by key players of the wireless testing market are:
- In April 2020, Sigfox approved for SGS's laboratory in San Diego, California, in the USA to become an accredited provider of Sigfox testing services.
- In March 2020, Keysight Technologies, declared that DEKRA has selected Keysight's end-to-end test solutions to certify 5G new radio (NR) and vehicle-to-everything (V2X) devices, in compliance with a wide range of requirements, to enhances safety in human interaction with technology, including vehicles.
Adoption of smart devices and rise in investment by governments toward Internet of Things (IoT) initiatives are propelling the growth of IoT devices. Countries, such as Singapore, Japan, China, and Australia, are taking initiatives based on R&D and are supporting IoT installation in manufacturing, utilities, and retail. Due to the high rate of adoption of IoT devices, testing is considered a crucial factor in all phases of product lifecycle to ensure proper functionality, long battery life, and high performance. Thus, vendors are procuring wireless testing solutions to ensure products are of the finest quality in order to enhance customer satisfaction. Companies are highly involved in designing wireless testing solutions for cloud and IoT devices. For instance, Element Materials Technology offers testing services for IoT devices. Its IoT testing services cover a broad range of wireless devices—such as Wi-Fi, cellular radios, RFID, ZigBee, and Bluetooth devices—with customers from consumer & home, healthcare & life sciences, buildings transportation, energy, industrials, and IT & networks industries.
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