The artificial intelligence of things (aiot) global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Artificial Intelligence Of Things (AIoT) Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The artificial intelligence of things (aiot) market size has grown exponentially in recent years. It will grow from $7.52 billion in 2023 to $9.98 billion in 2024 at a compound annual growth rate (CAGR) of 32.7%. The growth in the historic period can be attributed to iot proliferation, ai advancements, data growth, aiot security concerns.
The artificial intelligence of things (aiot) market size is expected to see exponential growth in the next few years. It will grow to $31.05 billion in 2028 at a compound annual growth rate (CAGR) of 32.8%. The growth in the forecast period can be attributed to 5g network expansion, edge computing growth, aiot in healthcare, aiot in smart cities. Major trends in the forecast period include aiot analytics, aiot in retail, aiot in energy management, aiot in transportation.
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Scope Of Artificial Intelligence Of Things (AIoT) Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Artificial Intelligence Of Things (AIoT) Market Overview
Market Drivers –
The increase in cloud adoption is expected to propel the growth of the AIoT market. A cloud is a distributed server group that houses infrastructure and software and can be accessed online. Cloud-based AIoT uses cloud computing platforms to manage and process data from IoT devices. It signifies that cloud is used to store and process IoT device data, while AI is utilized to analyze and make decisions based on that data. For instance, in February 2022, according to Canalys, a Singapore-based technology market analyst firm, the global cloud infrastructure services expenditure increased by 35% to US$191.7 billion, up from US$142.0 billion in 2020. Further, in August 2023, according to AAG IT Services & Cyber Security, a UK-based provider of IT support and digital transformation services, around 60% of corporate data was stored in the cloud in 2022 and it is estimated that the global data stored on the cloud will reach 200 zettabytes by 2025. Therefore, the increase in cloud adoption drives the growth of the AIoT market.
Market Trends –
Major companies operating in the AIoT sector are focused on improving the integration of AI and IoT, enhancing data processing capabilities and expanding the range of applications across different industries to strengthen their position in the market. These developments seek to capitalize on the power of AI and IoT to create more efficient and intelligent systems. For instance, in January 2022, Origin Wireless Inc., a South Africa-based technology company and nami.AI, a Singapore-based AIoT company, collaboratively launched a new AIoT platform that employs Wi-Fi access points to bring sensing capabilities to the smallest of smart devices, allowing them to distinguish between humans, pets, robot vacuums, pets and appliances.
The artificial intelligence of things (aiot) market covered in this report is segmented –
1) By Offering: Solutions; Services
2) By Deployment: On-Premises; Cloud
3) By Vertical: Banking, Financial Services and Insurance (BFSI); Manufacturing; Healthcare; Energy And Utilities; Retail; Transportation And Logistics; Other Verticals
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Regional Insights –
North America was the largest region in the artificial intelligence of things (AIoT) market in 2023. The regions covered in artificial intelligence of things (AIoT) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major players in the artificial intelligence of things (aiot) market are Google LLC, Microsoft Corporation, Robert Bosch GmbH, Hitachi Ltd., Amazon Web Services Inc., General Electric Co, Intel Corporation, International Business Machines Corporation, Tencent Cloud Service Pte., Cisco Systems Inc., Oracle Corporation, SAP SE, Fujitsu Ltd., ABB Ltd., The Hewlett Packard Enterprise Company, Nvidia Corporation, Sharp Corporation, NXP Semiconductors N.V., SAS AB, General Vision Inc., C3.ai Inc., DataRobot Inc., Echelon Corporation, Autoplant Systems India Pvt Ltd., Brighterion Inc., ITRex Group, Clarifai Inc., AIBrain Inc., Milesight Technology USA.
Table of Contents
1. Executive Summary
2. Artificial Intelligence Of Things (AIoT) Market Report Structure
3. Artificial Intelligence Of Things (AIoT) Market Trends And Strategies
4. Artificial Intelligence Of Things (AIoT) Market – Macro Economic Scenario
5. Artificial Intelligence Of Things (AIoT) Market Size And Growth
…..
27. Artificial Intelligence Of Things (AIoT) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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