Overview and Scope
Artificial Intelligence of Things (AIoT) platforms refer to technology frameworks or systems that integrate artificial intelligence (AI) capabilities with Internet of Things (IoT) devices and data. They can enhance the capabilities of traditional IoT systems by adding intelligent processing and decision-making capabilities, enabling more efficient and effective operations across various industries and applications.
Sizing and Forecast
The artificial intelligence of things (aiot) platforms market size has grown exponentially in recent years. It will grow from $4.41 billion in 2023 to $6.2 billion in 2024 at a compound annual growth rate (CAGR) of 40.5%. The growth in the historic period can be attributed to increasing government spending and initiatives to establish aiot platform developments, increasing use of aiot platforms for connected device data monitoring and analysis, development of platforms for different industry verticals by various organizations, application of aiot in supply chain management, quality assurance, and energy optimization, rising demand for smart devices.
The artificial intelligence of things (aiot) platforms market size is expected to see exponential growth in the next few years. It will grow to $21.9 billion in 2028 at a compound annual growth rate (CAGR) of 37.1%. The growth in the forecast period can be attributed to increasing government spending and initiatives on aiot platform developments, advancements in edge computing, rise in 5g connectivity, customer experience enhancement, rising security concerns. Major trends in the forecast period include integration of ai-based solutions in iot projects, strategic partnerships and collaborations, new product developments, expansion across various industries, advancements in technological aspects.
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The artificial intelligence of things (aiot) platforms market covered in this report is segmented –
1) By Component: Software Or Platform, Services, Professional, Managed
2) By Deployment: On-premises, Cloud
3) By Industry Vertical: Manufacturing, Banking, Financial Services, And Insurance (BFSI), Healthcare, Retail, Energy And Utilities, Transportation And Logistics, Other Industry Verticals
North America was the largest region in the AIoT platforms market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence of things (aiot) platforms market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in demand for smart devices is expected to propel the growth of the AIoT platforms market going forward. Smart devices are electronic devices that are generally connected to other devices or networks via different wireless protocols, such as Bluetooth, Zigbee, Wi-Fi, or 5G, and that can operate to some extent interactively and autonomously. AIoT platforms are used to enhance the capabilities of smart devices by leveraging artificial intelligence (AI) to analyze and act on the data generated by these devices. For instance, Apple Inc., a US-based technology company, set a new revenue record of $8.8 billion for the smart wearables category, up 12% from $7.9 billion in the year-ago quarter (Q4 2020). Therefore, the rise in demand for smart devices is driving the growth of the AIoT platform market.
Key Industry Players
Major companies operating in the artificial intelligence of things (aiot) platforms market report are Alphabet Inc. , Microsoft Corporation, Huawei Technologies Co. Ltd., Tencent Cloud, Hitachi Ltd., Amazon Web Services Inc., Siemens AG, General Electric Company, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Xiaomi Technology Co. Ltd., Robert Bosch GmbH, SAP SE, Fujitsu Ltd., ABB Ltd., Hewlett Packard Enterprise Company, Sharp Corporation, NXP Semiconductors N.V., SAS Institute Inc., PTC Inc., Axiomtek Co. Ltd., Litmus Automation Inc., Autoplant Systems India Private Limited
The artificial intelligence of things (aiot) platforms market report table of contents includes:
1. Executive Summary
2. Artificial Intelligence Of Things (AIoT) Platforms Market Characteristics
3. Artificial Intelligence Of Things (AIoT) Platforms Market Trends And Strategies
4. Artificial Intelligence Of Things (AIoT) Platforms Market – Macro Economic Scenario
5. Global Artificial Intelligence Of Things (AIoT) Platforms Market Size and Growth
…..
32. Global Artificial Intelligence Of Things (AIoT) Platforms Market Competitive Benchmarking
33. Global Artificial Intelligence Of Things (AIoT) Platforms Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence Of Things (AIoT) Platforms Market
35. Artificial Intelligence Of Things (AIoT) Platforms Market Future Outlook and Potential Analysis
36. Appendix
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