The artificial intelligence (ai) in iot 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 (AI) in IoT 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 (AI) in iot market size has grown exponentially in recent years. It will grow from $12.02 billion in 2023 to $15.34 billion in 2024 at a compound annual growth rate (CAGR) of 27.6%. The growth in the historic period can be attributed to increasing demand for data management,rising demand in major industries,urbanization and industrialization,increase in iot device proliferation,regulatory support and incentives.
The artificial intelligence (AI) in iot market size is expected to see exponential growth in the next few years. It will grow to $39.95 billion in 2028 at a compound annual growth rate (CAGR) of 27.0%. The growth in the forecast period can be attributed to 5g network expansion,increasing demand due to growing population,industry-specific ai applications,growing demand for powerful vehicles,increase in end-user demand. Major trends in the forecast period include demand for ai in iot in emerging markets.
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Scope Of Artificial Intelligence (AI) in IoT 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 (AI) in IoT Market Overview
Market Drivers –
The 5G network expansion is expected to propel the growth of artificial intelligence (AI) in IoT market going forward. 5G network expansion refers to the deployment and implementation of fifth-generation wireless cellular technology, which offers higher upload and download speeds, more consistent connections and improved capacity than previous networks. The high-speed, low-latency capabilities of 5G technology will significantly enhance the connectivity and data transfer capabilities of IoT devices, providing a robust foundation for the deployment of AI-driven applications. For instance, in June 2022, according to reports published by 5G Americas., a US-based telecommunications service company, global 5G connections reached 701 million in Q1 2022, up 17% from Q4 2021, and are expected to reach 4.8 billion by the end of 2026. Therefore, the 5G network expansion is driving the growth of artificial intelligence (AI) in IoT market.
Market Trends —
Major companies operating in the artificial intelligence (AI) in IoT market are focusing on introducing innovative solutions to increase their profitability in the market. For instance, in October 2022, Checkpoint Software Technologies Ltd., an Israel-based software company, introduced Check Point Quantum Titan, a new release of the Check Point Quantum cybersecurity platform, designed to provide faster, AI-enabled network security and advanced threat prevention for on-premise, cloud, and IoT applications. It includes AI-enabled network security, advanced threat prevention, IoT security and ultra-scalable protections, that help to prevent cyberattacks.
The artificial intelligence (ai) in iot market covered in this report is segmented –
1) By Components: Software, Platforms, Services
2) By Technology: Machine Learning, Natural Language Processing, Image Processing, Speech Recognition
3) By-End-User: Energy And Utilities, Manufacturing, Retail, Transportation And Mobility, Banking Financial Services And Insurance (BFSI)
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Regional Insights —
North America was the largest region in the artificial intelligence (AI) in IoT market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in iot market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies —
Major companies operating in the artificial intelligence (AI) in iot market report are Amazon Inc., Google LLC, Microsoft Corporation, Hitachi Ltd., General Electric (GE), Intel Corporation, Accenture PLC, International Business Machines Corporation, Cisco Systems Inc., Qualcomm Technologies Inc., Oracle Corporation, Honeywell International Inc., SAP SE, Fujitsu Limited, NVDIA Corporation, Salesforce Inc., Texas Instruments Incorporated, STMicroelectronics, Infineon Technologies AG, Renesas Electronics Corporation, ARM Holdings, PTC Inc., Softweb Solutions Inc., SpaceTime Insight Inc., CloudMinds Inc.
Table of Contents
1. Executive Summary
2. Artificial Intelligence (AI) in IoT Market Report Structure
3. Artificial Intelligence (AI) in IoT Market Trends And Strategies
4. Artificial Intelligence (AI) in IoT Market — Macro Economic Scenario
5. Artificial Intelligence (AI) in IoT Market Size And Growth
…..
27. Artificial Intelligence (AI) in IoT Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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