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#How have key drivers contributed to the rapid growth of the artificial intelligence of things (aiot) platforms market?
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, in March 2024, according to the Smart Meter Statistics in Great Britain: Quarterly Report to end December 2023 from GOV.UK, UK-based official website, by the end of 2023, 61 percent of operating meters were classified as smart and advanced meters (including those smart meters functioning in traditional mode), marking a 6-percentage point increase compared to the end of 2022. Therefore, the rise in demand for smart devices is driving the growth of the AIoT platform market.
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How has the artificial intelligence of things (aiot) platforms market size evolved, and what are the latest forecasts for its expansion?
The artificial intelligence of things (AIoT) platforms market size has grown exponentially in recent years. It will grow from $6.2 billion in 2024 to $8.7 billion in 2025 at a compound annual growth rate (CAGR) of 40.3%. 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 $29.5 billion in 2029 at a compound annual growth rate (CAGR) of 35.7%. 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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Which major companies dominate the artificial intelligence of things (aiot) platforms market?
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
What trends will shape the future of the artificial intelligence of things (aiot) market?
Major companies operating in the AIoT Platforms market are developing innovative technologies, such as the AIoT Platform Stack, to sustain their position in the market. An AIoT platform stack is a collection of hardware, software, and tools that enable developers to build and deploy AI applications for the Internet of Things (IoT). For instance, in May 2022, MediaTek Inc., a Taiwan-based manufacturer of semiconductors, launched the Genio Platform for AIoT devices. It’s a complete platform stack designed to make it easier for manufacturers to bring innovative smart devices to market, from premium to entry-level. Genio includes powerful and efficient chipsets, an open platform AIoT SDK for software development, and a developer portal with resources and tools.
Which region dominates the artificial intelligence of things (aiot) platforms market, and what factors contribute to its leadership?
North America was the largest region in the AIoT platforms market in 2024. 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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How is the artificial intelligence of things (aiot) platforms market segmented, and which segment holds the largest share?
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
Subsegments:
1) By Software Or Platform: AI Algorithms, IoT Platforms, Data Analytics Software, Edge Computing Software
2) By Services: Consulting Services, Integration Services, Maintenance And Support Services
3) By Professional: System Design And Development, Implementation Services, Training And Education Services
4) By Managed: Managed Security Services, Managed Data Services, Managed Network Services
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What defines the structure and scope of the artificial intelligence of things (aiot) platforms market?
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.
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