The ongoing covid-19 pandemic will have a negative impact on the proliferation of internet of things devices this year, and subsequently impact the need for related IoT test equipment, according to a new report from Frost & Sullivan. The one exception, the company noted, will be the testing of machine-to-machine devices for the healthcare vertical — which is expected to see the fastest growth of all IoT applications through 2025.
But the analyst firm also expects a rebound by 2021 and for the IoT test equipment market to expand over the coming years from about $2.4 billion in 2019 to $3.25 billion by 2025, a compound annual growth rate of more than 5%.
