The Cloud Computing In Industrial IoT AI Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cloud Computing In Industrial IoT AI Global Market Report 2024, The cloud computing in industrial iot ai market size has grown rapidly in recent years. It will grow from $82.39 billion in 2023 to $98.34 billion in 2024 at a compound annual growth rate (CAGR) of 19.4%. The growth in the historic period can be attributed to aging population demographics, rise in neurological disorders, advancements in cognitive science, increased mental health awareness, personalized medicine approaches.
The cloud computing in industrial iot ai market size is expected to see rapid growth in the next few years. It will grow to $194.73 billion in 2028 at a compound annual growth rate (CAGR) of 18.6%. The growth in the forecast period can be attributed to integration with electronic health records (ehr), focus on early intervention, remote patient monitoring expansion, increasing mental health challenges, global health initiatives. Major trends in the forecast period include digital therapeutics adoption, technological advancements in ai and vr, digital health and telemedicine trends, collaboration with research institutions, gamification of cognitive training
The increasing adoption of cloud computing is expected to propel the growth of cloud computing in the industrial IoT AI market going forward. Cloud computing is the internet-based delivery of computing services, providing faster innovation, flexible resources and cost-effective solutions by allowing users to access servers, storage, software and other resources on demand. Cloud computing in industrial IoT AI increases demand by offering scalable infrastructure, real-time analytics, and efficient data storage for seamless integration. Cloud architectures and services that power the Internet of Things (IoT) can store and process data generated by AI platforms on IoT devices, enabling seamless connectivity, data management, and advanced analytics. For instance, in December 2023, according to Eurostat, a UK-based intergovernmental organization, 45.2% of EU (European Union) enterprises purchased cloud computing services, mostly to host their email systems, store electronic files, and accomplish other tasks. Purchases of cloud computing services by EU enterprises increased by 4.2 percentage points in 2023 compared to 2021. The percentage of businesses that purchased cloud computing services was highest among large businesses, where 77.6% reported doing so in 2023—a growth of 6 percentage points from 2021. Therefore, the increasing adoption of cloud computing is driving the growth of cloud computing in the industrial IoT AI market.
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The cloud computing in industrial iot ai market covered in this report is segmented –
1) By Cloud Type: Hybrid, Private, Public
2) By Sensor Type: Optical Sensors, Pressure Sensors, Proximity Sensors, Temperature Sensors
3) By Model: Infrastructure As A Service (IaaS), Platform As A Service (PaaS), Software As A Service (SaaS)
4) By End-User: Energy, Healthcare, Manufacturing, Mining And Agriculture, Oil And Gas, Transportation
Major companies operating in cloud computing in the industrial IoT AI market are increasing their focus on developing new technological solutions, such as cloud-based development environment platforms, to gain a competitive edge in the market. A cloud-based development environment platform is a centralized platform for software development teams to collaborate, build, test, and deploy applications. For instance, in December 2023, Renesas Electronics Corporation, a Japan-based semiconductor manufacturing company, launched the AI Workbench, a cloud-based virtual environment that allows developers to design, simulate, and test software for a variety of applications. It is a virtual development environment that enables automotive AI engineers to design, simulate, and test software for a variety of applications using Renesas’ scalable automotive SoCs (system-on-chip) and microcontrollers. The platform is built on the Microsoft Azure Cloud and will be supported by other cloud vendors, allowing customers to integrate AI Workbench functionality into their development workflow.
The cloud computing in industrial iot ai market report table of contents includes:
1. Executive Summary
2. Cloud Computing In Industrial IoT AI Market Characteristics
3. Cloud Computing In Industrial IoT AI Market Trends And Strategies
4. Cloud Computing In Industrial IoT AI Market – Macro Economic Scenario
5. Global Cloud Computing In Industrial IoT AI Market Size and Growth
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26. South America Cloud Computing In Industrial IoT AI Market
27. Brazil Cloud Computing In Industrial IoT AI Market
28. Middle East Cloud Computing In Industrial IoT AI Market
29. Africa Cloud Computing In Industrial IoT AI Market
30. Cloud Computing In Industrial IoT AI Market Competitive Landscape And Company Profiles
Top Major Players:
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